yacht sales person

The Howorths

Looking For A New Career? How To Get Into Yacht Sales

If you’re looking to enter the job market, or are looking for a change of career, why not consider becoming a yacht broker at a luxury yacht brokerage ?

As you may imagine, this job entails travelling the world, attending international boat shows and yacht fairs, forging deals with the rich and famous and touring luxury yachts, but what else does it entail?

What does it take to become a yacht broker? 

What are the skills you need to become a yacht broker, are there any specific qualifications you require, and what kind of compensation can you expect? Let’s take a look.

Why yacht sales?

Why boat sales? If you are passionate about yachts and life on-the-water, a career as a yacht broker might be for you, allowing you to work in an area that you genuinely enjoy and understand. Your passion will shine through and help you sell yachts all the better. 

What skills do you need for yacht sales?

To succeed in this highly competitive market, it will help if you are a confident people-person, capable of networking, negotiating and of winning the trust of some of the world’s most influential and demanding individuals.

A solid understanding of yachts is essential, and you’ll need to keep up-to-date regarding market trends, such as the recent developments in sustainable yachting and solar powered yachts.  

Excellent verbal and written communication skills are vital, as is a knowledge of digital marketing and promotion. You’ll also be expected to know about cruising grounds and all the industry rules, regulations and ethical standards.

You’ll need to be professional, self-motivated and trustworthy, and committed to providing excellent customer service. You must be able to pay attention to your clients’ particular needs, placing them above your own gain. As you will be selling high-value items, you will need to look the part, too, dressing with elegance and style.    

How do you get into yacht sales?

Experience in sales and a passion for yachting will help get your foot in the door, and it’s worth starting at some of the smaller brokerages to get a solid base of experience, before working your way up to the high-end superyacht brokers.

Once you are working in a brokerage, you can start looking into gaining recommended certification and association membership, which will help towards building your reputation, while creating access to professional links, networking resources and regular industry news.  

The Association of Brokers and Yacht Agents (ABYA) offer a Professional Yacht Brokerage Course, or you could aim for a British Marine Boat Retailers & Brokers Boat Sales Qualification, which recognises the competence and experience of those selling new and second-hand boats. 

What is the commission on a yacht sale?

Most yacht brokers work on a commission basis, of which the industry standard is typically 10%, paid by the seller. When dealing with superyachts, the commission usually works on a sliding scale, with 10% on the first $10 million of value, 5% on the second and 2.5% on anything above that.  The distribution of commission between the yacht buyer representative and yacht seller representative is usually 60/40, but can sometimes be split 50/50.

If you have all the right skills and enthusiasm, are presentable, self-motivated and confident, there is no reason why you shouldn’t be able to join a reputable luxury yacht brokerage and excel in the exciting world of yacht sales.

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Certified Professional Yacht Brokers

Find your cpyb.

Yacht Sales Professionals (brokers, dealers, salespeople) have a benchmark for measuring their skills, abilities and performance, while, at the same time, enhancing their marketing value. Boat sellers and buyers are in a better position to select qualified, competent sales professionals with confidence and trust.

If you want to set yourself apart, the certified professional yacht broker (cpyb) program is for you..

Get Certified

CPYB Certification is the mark of excellence for yacht sales professionals throughout North America.

Earning Certification

CPYB brokers have met professional qualifications and have successfully passed a three-hour examination, testing their skills and knowledge as yacht sales professionals. If you are committed to professionalism and have what it takes, we invite you to apply.

Renew Your Certification

Retaining certification ensures you stay current with industry trends.

As you know, staying competitive and successful requires a continuing commitment to educating yourself on the latest industry information and insights. That is why the basis of CPYB Recertification requires your participation in educational activities and professional involvement that help you to remain one of the most experienced brokers in the brokerage industry.

See How Companies Like Yours are Growing with CPYB

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Tue 10 2024

September 10, 2024 11:00am - 1:00pm edt, cpyb: exam prep session, webinar date: september 10, 2024.

Presenter: Staley Weidman III, CPYB

Any CPYB Candidate (or CPYB certified member) is invited to participate in this exam prep session led by Staley Weidman III, CPYB. In this two-hour session, you will hear from 5 subject matter experts while they cover key topics under each of the five Principal Knowledge categories that candidates will encounter on the exam. Primarily intended for exam takers, but all CPYB’s who attend this session will earn 3 CE. Consider signing up and attending as a refresher!

Thu 19 2024

September 19, 2024 12:00pm - 2:00pm edt, brokers brunch: ‎surveyor selection, survey reports and how to handle findings, webinar date: september 19, 2024.

As brokers we need to be careful with our involvement when assisting our buyers selecting a ‎suitable surveyor. What can we do, what can’t we do? Attending the survey is the best way to ‎understand what is discovered. The buyer-owned survey report should be reviewed to discuss ‎normal wear and tear vs. problem items. What is the best way to handle repairs to keep your deal ‎on track? The survey is the turning point for every transaction and your involvement and advice ‎to your buyer can make a big difference. ‎

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How To Become A Yacht Broker

Jul 19, 2016

Professional yacht brokering is an appealing career for many people who have a maritime background and live close to the water. How does one go about becoming a yacht broker? What steps should you take in order to successfully become a licensed broker? Let’s look at some fundamental requirements one must consider in the pursuit of becoming a broker.

It’s important to understand the industry of boating before diving into this career path. Being familiar with different boat brands is key; you wouldn’t start selling cars with any knowledge of car brands. This will serve as a base for understanding the prices, quality, performance, and manufacturing quality of individual yachts. Having this basic comprehension will pave the way for smooth sailing when dealing with experienced and amateur customers.

Certifications:

The Yacht Brokers Association of America strongly recommends that new brokers receive their CPYB (Certified Professional Yacht Broker). This certification is not mandatory for yacht brokering, but it puts potential customers in a more comfortable situation. To become eligible for certification, one must have at least three years in sales/yacht brokerage, a history of using and maintaining legal contracts, required licenses, and proof of appropriate trust accounts. The certification process concludes with an exam that determines if one is fit to become a certified broker.

Only a few states actually require new yacht brokers to have a license. States that do require one will need to see evidence of a background in sales, more specifically experience under another licensed broker. Another portion of states will require an administered background check in order to continue the licensing process. Next, yacht brokers may have to take out surety bonds in order to protect their clients and themselves in case of a financial emergency. After acquiring your license, it’s important to note that state rules and regulations state that you must renew your license pending a specific amount of time.

A bachelor’s degree is the standard to find employment in yacht brokering, although having a GED or no formal higher-level education could be sufficient depending on the situation. Ultimately, having a strong knowledge of boats and boating culture can take you far in this field, it is more than possible to become successful in yacht brokering without a college degree.

In the end, anyone can become a yacht broker. If you are motivated, like to make your own hours, and have a thorough knowledge of everything boating…you are on the right track. If you have any questions, or have any of your own tips for becoming a yacht broker, please leave a comment!

Interested in becoming a yacht broker? Join our team today! Contact us at [email protected] or call our office at 910-239-9344. Learn more here!

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How to be a successful Superyacht Sales Manager

What does it take to broker a Superyacht?

We caught up with West Nautical Sales Manager Pierre Badin  to discuss what it takes to become a successful yacht broker. Here’s what he had to say.

“I believe all Sales Managers should be very grateful to be evolving on a daily basis in such an exclusive and rewarding market. One of the main keys to success, no matter which field you work in, is to enjoy yourself and be passionate about what you do.”

You call yourself Sales Manager rather than broker. Can you explain this to us?

West Nautical have modelled themselves as a next generation professional services business for the superyacht sector. This refreshing alternative to traditional brokerage firms, opts to employ client and sales managers instead of traditional charter and sales brokers.

What are the 3 main qualities needed to become a successful Yacht sales manager?

• Dedication:  You must be prepared to give yourself 100% to your clients. Be available at all times to attend viewings, even at the last minute. Being a Yacht sales manager is the ultimate form of customised service.
• Integrity:  The quality that makes a Yacht sales manager last in this industry. There are many times in yacht sales where the broker’s personal interest (his commission perspective) takes a different direction from their client’s.
• Ethics and honesty: Remember what we are here for in the first place and whose interest should always be our priority.

Are there any qualifications needed to become a Yacht sales manager and if so, what are they?

There are no schools, special courses or diplomas to qualify a yacht sales manager. Ultimately the client is the only person who can judge you on your abilities.

However, you should have a good, eclectic knowledge of all aspects of a yacht. Therefore a background as a captain or marine engineer would definitely help.

What work experience is best suited to become a yacht sales manager?

You will find successful yacht sales manager come from different backgrounds.  Marketing and sales in other fields, services to UHNWI such as concierge or with a background in luxury real estate.

Many paths lead to the industry and it is often by accident and good fortune that one becomes a yacht sales manager.

It must be a tough industry to be in, very cutthroat at times. What percentage of success would you say comes from experience and what percentage comes from connections?

Connections and networks are key. Plus there is always an introducer between a broker and their client (buyer or seller).

The experience is what makes you different and valuable. What gives you the ability to move on from just an introduction to a fruitful relationship with a confident client.

What is the most challenging part of being a yacht Yacht sales manager and why?

It’s easy to always tell the clients what they want to hear, and it is challenging to be truthful to them.

You need to use a lot of diplomacy to give them a realistic estimate of the true value of their yacht (sellers) or to tell them not to buy the yacht they have fallen in love with, when you know it is not a good boat (buyers).

I have experienced challenges when my opinion as a knowledgeable yacht sales manager differs from my clients’. I have always told them the truth and not what they would like to hear… Ultimately, I think I gained their respect for this and eventually they were thankful for the honest comments.

Where do you think the sales market of Superyachts is heading in the next 5 – 10 years?

I believe we are in an ever-changing world with many possible paths that could be taken. Right now, the market has evolved from a buyer’s market to a seller’s market as so many yachts have been sold. Many new owners have taken the step towards selling or buying, so the proportion between the offer and demand has really changed.

I see it as a good thing for Sales Managers, as now I can really focus on selling the yachts I have been asked to sell and get the best price possible for my clients, rather than spending most of my time and energy looking for buyers.  

What advice would you give to a young Yacht Broker starting out in the industry?

Always keep in mind how lucky you are to work in the yachting industry. Enjoy what you are doing as much as you can. You will do a better job if you love what you do.

Never give up, even when it seems the battle is lost. Try to learn from your clients since they are some of the most successful people in the world.

To read more of our news please click here .

Or, if you have your own “life after yachting” story to tell please get in touch via hello@superyachtcontent.com

West Nautical

Related articles, 5 crew-specific courses you can take anytime, anywhere with maritime training academy, life after yachting: carmen preda. crew life & capseayachting, how a superyacht career prepared myrotat founder for entrepreneurship, how to become a yacht engineer. here are the qualifications & requirements you need.

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Captain Chris Jones is the Founder of My Yacht Sales and has a long history in the boating industry, which allows him to understand and appreciate each individual client’s needs. Chris has a strong desire to grow within the industry and make improvements on a daily basis with Yacht Sales and Yacht Charter. With a Bachelor in Finance from Florida Atlantic University, a 100 ton USCG Captains License and firm understanding of Yacht Sales, both internationally and domestic on new and used vessels. Chris also ran a Yacht Management company in his twenties, which gives him a strong understanding of exactly what a perfectly running boat with a well balanced budget looks like. Prior to working in the yachting world, Chris worked in the Financial Analysis Industry, which provides him with a strong understanding of making boating cost effective, while at the same time improving the processes so clients receive the best service for their buck. Chris’ attitude towards goals and improvements on a daily basis has helped clients with yacht purchases and selling their vessels to most financially beneficial way. Chris strives to provide clients with a pleasurable boating experience while taking the hassles out of boating, giving you more time on the water. 

Christopher Jones

Lewis is a backcountry fisherman who has built and managed marinas and brings his extensive experience to the Yacht Sales world. Lewis is Canadian Born, avid Hockey player, boat owner, and loves selling vessels. The only thing Lewis loves more than getting his clients in or out of a great boat is his family. Lewis calls family his sole purpose in life and treats all of his clients the same way, he wants the best for them on and off the water. Lewis knows the sales process extremely well and has a skill for finding dockage for his clients quicker than anyone we have met before. His boat experience and boat ownership makes him a excellent sales person for purchasing and selling vessels in the 30' to 150' range. Lewis hopes to one day visit every Exuma island with his family.

Lewis Rissman

Andres Smith

I am a Licensed Florida Yacht Broker since 2003, Certified Professional Yacht Broker since 2014. My experience is with 40 to 120 foot motor yachts of all types. I've been involved with New Builds, Refits, Upgrades and Exporting. I am Bilingual in Español.

Carlos Dominguez

Growing up fishing on his family’s Four Winns with his father on the Great Lakes in Rockwood, Michigan, Tim was introduced at an early age to the boating and fishing industry. At the age of thirteen, his passion and ambition shined through by working for one of the most renown bait and tackle shops in the state. It is there where he learned the innerworkings of the freshwater fishing industry and grew his passion for boating. In his school years, he worked in different professional capacities within the finance and yachting industry providing his clients with expert guidance around complex lending and purchase decision-making. Upon completion of his formal education at Ferris State University, he moved to Fort Lauderdale, the Yachting Capital of the World and now states “God made freshwater so everyone can boat, but God made saltwater so the elite can yacht!”.

In 2020, Tim left his successful finance career to pursue his passion to help his clients in all things yachting by joining the My Yacht Sales brokerage team with owner Chris Jones. Tim has drawn on his experience and knowledge to provide detailed, professional advice for his clients. He is excited for the many opportunities that lay ahead with a firm that has proven to be incredibly successful at fulfilling the yachting dreams of their clients.  

Tim enjoys spending his time in the bluest of waters in the Bahamas, where he keeps busy trying to catch that one fish that got away. You can meet Tim each year at your favorite Yacht show in Fort Lauderdale, West Palm or Miami.  

Brian Clark

Howard is a retired captain that has all the experience you would want in a yacht salesman. Howard has over 25 years living the yachting life style and has been all over the Bahamas and East Coast of the united States. Howard knows the boating world extensively and can help guide you in or out of your boating lifestyle. Howard is the salesman and guide you would want to help you buy or sell your next yacht and plan your next life's adventure.

Howard Bujaky

Brad Warrick

Jeff is currently a state of Florida registered yacht broker with several vessels sold for My Yacht Sales. Jeff is also a USCG Licensed Captain and enjoys working with several monthly customers for relocation services and day yachting in the local South Florida area. He also enjoys time aboard his own vessel, a 37’ SeaRay Amberjack. Most days are spent within the yachting industry meeting new customers and adding marine services to current customers. Jeff has a long history of boating and yachting that stems back to his Michigan days as not only a boat owner but as a marine sheriff in Macomb County. As with most yacht owners, Jeff shares a passion for the sea and the freedom that being at sea provides

Jeff Fischer

Christian is a Avid boater, past dockhand and professional. Christian has been on the water his entire life and likely sees more boats everyday than most people see cars. Christian is a true gentleman and knows the sales process extremely well. His boat experience and boat ownership makes him a excellent sales person for purchasing and selling vessels in the 30' to 150' range. Christian hopes to one day own his own marina and help grow the boating community.

Christian Petzold

Nick Watkins

Brandon Prater

Christian is a Avid boater, past sea tow captain and professional sailor. Christian has been on the water his entire life and calls the water his happy place. Christian owns a 32 Intrepid and knows the sales process extremely well. His boat experience and boat ownership makes him a excellent sales person for purchasing and selling vessels in the 30' to 150' range. Christian hopes to one day own a 75 Sunseeker and relax on the hook in the Exumas during the summer.

Christian Johannsen

Don Williams

Randy Walterhoefer

Tony Azeem has been boating his entire life and has won many local fishing tournaments. Currently Tony owns a 43' Intrepid and knows the market well for fishing and cruising boats. You will feel confident in Tony being your broker on a new purchase or selling your current vessel.

Dean Pazin is a Native Floridian with a true passion for the water. Dean has been fishing and diving off the Florida coastline since he was a toddler. Dean personally owns a 61 Viking that he fished weekly from the Bahamas to Key West. You will be impressed with Deans experience with navigating the waters of the Bahamas, Exumas, Keys and all of South West and East Florida. Dean will get you the best deal on the market when you buy or sell.

Mandy Pazin lives in South Florida with a true passion for the water. Mandy has been visiting the Exumas and Keys since she was able to walk. Mandy personally owns a 61 Viking that he fished weekly from the Bahamas to Key West. You will be impressed with Mandy's experience with navigating the waters of the Bahamas, Exumas, Keys and all of South West and East Florida. Mandy will get you the best deal on the market when you buy or sell.

Mandy Pazin

Rodney Ford

Donnie Gordon has been in the yachting industry for the past 12 years from having the luxury of exploring the Bahamas and Exumas on his fathers 110 Broward to captaining several boats throughout the Bahamas, and entire East Coast of the United States. Donnie loves, fishing, exploring new islands, and finding the perfect boat that fits his clients wants and needs. Donnie brings a lot of experience and solutions to a boat buyer and owner.

Donny Gordon

Al Ravelo was born and raised in Miami, to a Cuban-American family. After high school, he attended the U.S. Naval Academy at Annapolis, graduating in 2011. In the Navy, Al was trained as a Navy Pilot and flew Maritime Patrol Aircraft, on two overseas deployments. He was medically retired in 2021, at the rank of Lieutenant. Having grown up on the waters of South Florida and the Bahamas, Al returned to his roots and became a yacht captain. He joined My Yacht Sales, in 2022, bringing invaluable experience and attention to detail to our team. 

Yacht Sales Broker, Christopher Saumsiegle is a New England native who grew up on the waters of Cape Cod where he learned to sail at an early age and was constantly on the water. His love for boating brought him to South Florida in 1989 where he entered the boat/yacht business, introducing buyers to the new product lines of four different boat manufacturers. He was soon handling the dealership's entire pre-owned yacht trade-in program, which led to his growing into the yacht brokerage sector throughout Florida and the nation. In 1992, Chris established a Fort Lauderdale-based yacht brokerage firm, expanding the company to seven successful offices throughout the country. In 2009 Chris decided it was time to close the firm down and then joined the brokerage team of Bradford Marine where he was a successful broker for 10 years. When Bradford Marine sold in 2019 Chris headed over to United Yacht Sales where he spent a few years. Now currently with MYS Fort Lauderdale.

Chris Saumsiegle

Chelsea Hagan

Julian Divencenzo

Shelly, grew up in Bloomington, Illinois, attended college at USF in Tampa receiving her BA in International Business and studied abroad in Florence, Italy. She has lived in South Florida for the last 12 years, moving to New York City for 2 years in between to work at an international company, where she flourished in the competitive corporate world and worked alongside the top Executives, Legal Team, and brightest business savvy minds in Manhattan, developing her natural abilities in corporate and contractual law and finances and the ins and outs of a fortune 500 business.

Shelly always put her clients first and is willing to go the extra mile to excel in the luxury yacht industry. With her love for knowledge and fierce competitive edge in the business world, her passion exceeds expectations in all aspects within the marine industry. 

For Shelly, yachting isn't just a business—it's a way of life, a celebration of the sea, and a testament to the remarkable people who call it home. From seasoned sailors to skilled craftsmen, each member of our maritime family plays a vital role in shaping the rich tapestry of our industry.

With a career spanning decades on the water, she has had the privilege of witnessing firsthand the camaraderie that defines our community. Whether gathered at a bustling marina, sharing stories over a sunset cocktail, or coming together to support one another in times of need, it's this sense of unity and goodwill that truly sets our industry apart.

As a seasoned luxury yacht broker, Shelly is more than just a purveyor of luxury yachts—she is a stewardess of a legacy, guardian of a maritime tradition that spans generations. With a keen understanding of the unique challenges and opportunities facing our industry, she strives to foster an environment of trust, integrity, and respect in everything she does.

From the moment you step aboard one of our vessels to the final toast at journey's end, you'll experience firsthand the warmth and hospitality that define our maritime community. Whether you're buying, selling, or simply dreaming of your next nautical adventure, we're here to ensure that your experience is nothing short of extraordinary.

So, join Shelly and set sail on this incredible journey together. Welcome to our maritime family, where the sea is our playground, and the people are the heart and soul of everything we do.

Shelly Melcher

For over 40 years, Ken has owned large distribution businesses that have all emphasized excellent customer service. Because of Ken’s longtime love for yachting and boating, he is now dedicated to bringing his knowledge to offering the best customer experience in buying and selling vessels.

Ken is a located in Boca Raton, Florida, and enjoys boating with his family. Buy your boat or yacht with a local expert.

Raised as an "army brat" Charity has traveled extensively and was introduced to boating by her aunt and uncle at the age of 6. She currently lives in Chattanooga, TN and has been boating on the Tennessee River since 1999. After a 25 year career in the medical field, in 2015 she purchased a local marina and took the plunge into "all things boats." Since that time she, along with her 4 children, have run a successful marina, marine service, rental boat operation, boating supply store, and brokerage. In 2017, she also acquired her captain's license and began doing training and deliveries. In 2021, she sold the marina and has since focused on the brokerage and captaining side of boating. Charity loves what she does and it shows. She has a passion for sharing her love of the water and boating with others to ensure everyone has the opportunity to love it as much as she does.

Charity Garey

Richie Collins

Brian is a seasoned boater in Southwest Florida whose journey is as rich and diverse as the open waters themselves. Born and raised with a deep affinity for the water, he developed an early connection to boats, spending countless hours navigating the waves and honing a genuine love for the maritime lifestyle.

Having embarked on a successful career in the insurance industry, Brian and his wife achieved remarkable milestones. After steering the growth and prosperity of their insurance company, a unique opportunity presented itself—a chance to sell the company and transition to a new chapter in life. Fueled by a passion for boats and the allure of the yachting world, he seized the moment to turn a lifelong passion into a way to help others enjoy their passions on the water.

Brian and his family have owned many different boats over the years and as a current owner of a 580 Sea Ray Sedan Bridge he brings a wealth of experience and a genuine understanding of the needs and desires of fellow enthusiasts. Combining business acumen with an inherent love for the water, he is committed to providing clients with unparalleled service, ensuring that every yacht purchase or sale is a seamless and satisfying experience.

Splitting time between the sun-kissed shores of Southwest Florida and the picturesque landscapes of Sioux Falls, South Dakota, Brian and his family have found the perfect balance between the tranquility of the Gulf Coast and the welcoming embrace of the Midwest. This dual residency allows him to cater to a diverse clientele, understanding the unique preferences and requirements of both coastal and inland enthusiasts.

Whether you're a seasoned boater or a first-time buyer, Brian will be dedicated to making your yacht ownership dreams a reality. With a deep understanding of the intricacies of yacht buyers' wants and needs, a love for the water that runs deep in the veins, and a commitment to exceeding expectations, he will be your trusted partner in navigating the exciting world of luxury yachting. Embark on a journey with Brian and discover the unparalleled joy of yacht ownership tailored to your unique desires.

Brian Hagan

Thomas Daly

Logan Hooper

Nick Vincelli

3155 E Atlantic Blvd

Pompano Beach, FL 33062

(561) 212-6175

https://myyachtsales.com

KEEP IT SIMPLE

Between buying and selling - we can help you with Buying or Selling, sea trial, survey, insurance, financing, and planning traveling!

INDUSTRY EXPERIENCE

We not only love yachting and the memories it creates - we want to pass on new memories of family, friends, and relationships to you!

BUY SMARTER / SELL FASTER

We not only advertise - we search for buyers and we search for boats that may not be on the market that fit your wants.

What Do Yacht Brokers Do? 8 Things To Expect (Selling & buying)

From buying to selling boats and enjoying life on the high seas, the exciting life of a yacht broker seems like a dream to many.

What exactly is involved in their job?

This article will highlight some of the key responsibilities of a yacht broker.

Table of Contents

The 8 Main Functions Of Yacht Brokers

A yacht broker helps to make sure that everything goes smoothly behind the scenes of buying and selling a yacht.

They do a lot to help to make sure the stress of buying or selling a yacht is less stressful and can help to speed the process up.

1) Looking at the Boat

Whether the client is purchasing a boat or selling one, the yacht broker will first need to view the vessel.

This is in order to get a good idea of the condition of the yacht. He or she will need to appraise the condition of the boat.

Another responsibility is to talk to the crew about the maintenance schedule. The yacht broker will also need to look at the ship’s papers. Having all of the right certificates in order and documents is crucial to sealing the deal.

2) Appraising the Boat

The yacht broker will also want to talk to his industry contacts to get an idea for how much the yacht is sold for.

The yacht broker has the important job of saving the seller or buyer time and pain when it comes to selling a boat.

A yacht broker can help with assessing the boat and surveying it to make sure it is in premium condition. They will attend the survey with you, or for you, if you are not able to. The broker will act as the intermediary during the process of the sale.

3) Filling Out The Paperwork

The yacht broker’s job is to make sure that the paperwork gets done. This includes collating the documents for the actual closing of the sale, preparing technical specifications, to making sure the yacht has all of the appropriate certificates.

They will also guide the yacht owner through aspects such as loan payoffs, corporate ownership, bills of sale, and similar documents.

4) Briefing The Parties Involved

A yacht broker will need to direct clients to the best possible marine lawyer for their specific yacht.

The yacht broker may need to help encourage the deal to keep pushing through.

5) Marketing

Marketing is an essential part of the yacht broker profession, especially when they are representing the seller of a yacht.

In the past, a yacht broker operated out of a big office building, and people would walk by and visit because they were considering purchasing a yacht.

Now, in the era of the internet, people from all over the world have access to a yacht broker and their services.

The yacht broker may make use of advertising such as banner ads or videos. Marketing yachts effectively makes use of the internet, so a yacht broker may make posts on social media, classifieds, or their personal website to sell a yacht or find one.

Some yacht brokers might make a video walk-through of the yacht and explain the features to potential clients. Others will have a professional website that acts as a point of contact.

6) Duties While Selling

As stated above, the broker will list the yacht on Yachtworld and other appropriate outlets. They also have the responsibility of pricing the yacht reasonably. Brokers will have access to recent sales, and they know how much they should go for based on recent sales prices.

When they receive responses to the yacht adds, they will prescreen responses so as to find those that are most likely to lead to a sale.

A yacht broker will also have the duty of showing the boat to people who are interested in buying it. They’ll give them the tour, and be sure that the boat is in pristine condition.

The yacht broker will also answer any questions that the buyers have.

Another responsibility they have is to communicate negotiations with the yacht owner. They will also handle the pricing of the yacht , which is where they might get their earnings from.

Finding the right price is a big part of getting the boat sold.

Part of their job would be to take pictures of the boat and to write a description of it that entices buyers.

7) Securing the Sale

When a price is agreed upon, the yacht broker will draw up the sales agreements and will also accept deposits.

Modern technology allows them to do this electronically with smartphones, tablets, and computers.

A yacht broker will secure sea trials where the potential buyer will take it for a test drive on the water as well as schedule surveys.

After the sale is made, they will transfer the funds to the yacht owner.

A yacht broker can assist a buyer in getting financing for the yacht.

8) Duties After the Sale

The broker’s job doesn’t stop after the boat is sold.

They can also assist in docking, boat detailing, and refining it to meet the buyer’s needs.

Their industry connections can help a lot in this process after the boat is sold, and helps to make boat ownership a rewarding experience.

Types of Agreements With Yacht Brokers

Some yacht brokers take a 10% commission on the sale of the boat and might bring it down in order to secure a sale on a boat. There are different types of agreements.

A central agency agreement, or an exclusive listing, means that a seller has hired a specific broker to sell their boat.

The broker may then list it on Yachtworld or a similar site. They then enter a co-brokerage agreement. Co-brokerage is when another broker finds a buyer for the yacht, and the original broker splits the commission with them.

Almost 70% of all yacht sales are done in this way because of this incentive. In this agreement, even if an owner brings in a buyer or donates the boat, they are still liable to pay the broker commission.

Most of the yacht sales are completed with a central agency agreement.

Another type of sale is the open listing agreement. In this setup, the owner can bring in more than one broker for the sale.

The owner also retains the right to sell the yacht on their own.

A disadvantage to this type is because they are not guaranteed commission, they might not spend money that is necessary to advertise the boat. It also might result in communication errors among more than one broker and prospective buyers.

However, on the other hand, a motivated broker might be more likely to bring in a sale because then they would be guaranteed the entire commission. The typical length of the agreement is around six months.

Yacht Broker Duties If You Are Buying

Brokers help to ease buyer’s anxiety when putting down large amounts of cash for a luxury yacht.

They might set up a separate bank account for the transaction and the necessary deposits.

The contract will specify what the contingencies of the sale are, and also how much or how the money will be returned if the sale does not go through.

For the buyer, the yacht broker will have the advice they need to find the right boat at the right price. They’ll be able to open doors and find opportunities that benefit both parties and create a win-win situation.

They work as an advocate on behalf of the buyer and will be priceless when it comes to negotiating and securing a sale.

Know The Role Of The Broker

In most sales, the broker is a worker for the seller and not the buyer.

This is an important part to remember. Their job is to get the highest price possible to satisfy the buyer and to make money. It is possible for a buyer to enter into an agreement with a broker with a buyer’s broker agreement.

A buyer’s broker represents the buyer, not the person selling the boat.

When they know what type of yacht the buyer is looking for, they will search for it through their contacts and resources available to them. They will assist in finding the right boat for the buyer’s needs and budget as well as assist in the necessary paperwork.

A buyer’s broker will typically get a split in commission from the seller’s broker.

There may be no cost to the buyer for using a buyer’s broker, but be sure to read the details of the agreement before signing.

A yacht broker has priceless industry knowledge that will assist in the buying and selling of yachts. A trustworthy broker will help save buyers and sellers time and money when they are making the purchase. They’ll pool the talents and resources of a team of brokers to support the transaction go quickly and smoothly.

Finding the right yacht broker with experience and integrity will make a big difference in the process. A yacht purchase is a significant investment, and teaming with the right people helps to ensure that the investment is the right one.

They understand the market and all of the nuances involved in buying and selling.

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Connect with a Sales Person

Our staff represents both buyers and sellers of luxury power/sailing vessels with integrity, professionalism and unparalleled service.  We provide detailed advertising on industry websites, our own state-of-the art company website, and a sophisticated direct mail campaign.  Consequently, you can be assured your listing will receive maximum marketing exposure.

Please call any one our sales representatives to discuss an accurate appraisal of your boat in today’s marketplace:

John Baier (Sag Harbor and Sausalito Offices) Mobile  415 377 0866

Rick Peterson (Sausalito Office) Mobile  415 599 5506

Lloyd “Skip” Johnson (Sausalito Office) Mobile  925 819 1460

Tom Fores (Sausalito Office) Mobile  209 918 6842

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About company

Mike Lynch yacht: The Bayesian's owner was close to billionaire and cost an enormous sum

British entrepreneur Mike Lynch is still missing following the capsizing the yacht he was on near Sicily.

While the billionaire has yet to be found , at least one person is confirmed dead from the accident while six are reported missing. Fifteen have been rescued, including Lynch’s wife , Angela Bacares.

The luxury yacht “suddenly sank” from what’s thought to have been “terrible weather conditions”, according to NBC. Lynch, 59, is the co-creator of the software corporation Autonomy and established Invoke Capital.

• Mike Lynch yacht sinking survivors pictured for first time as search for billionaire intensifies
• Missing billionaire Mike Lynch cleared of fraud just months before superyacht sinking in Italy

How much is the yacht 'The Bayesian' worth?

The Sun reports the 56-meter sailing yacht, called Bayesian, is worth £14 million, about $18 million. The average cost to buy a super yacht, which is a yacht between 37 to 60 meters, starts at about $10 million, according to Galati Yacht Sales .

Forbes said the cost to charter the Bayesian is $215,000 for one week. The yacht was listed for sale earlier this year, though it is no longer, according to BOAT International.

Who owned the Bayesian?

The yacht is legally owned by Lynch’s wife Bacares, Forbes reported. It was built in Italy in 2008 by renowned boat builder Perini Navi.

BOAT International reports the yacht's naval architecture was developed by Ron Holland Design while the interior design is by Rémi Tessier. It was originally known as Salute until 2016 when it was retrofitted and renamed Bayesian.

When it comes to length, Bayesian is in the top 5 percent in the world. It can accommodate up to 12 guests in 6 staterooms, and it has room for 9 crew members.

It is also one of the world’s tallest, with a single mast reaching 75 meters.

• Economy & Markets
• Digital Life

Existing Home Sales Rose In July, Breaking Streak Of Monthly Declines

Existing home sales rose 1.3% in July according to statistics released on Thursday.

The National Association of Realtors report said the gain broke a streak of four consecutive monthly declines. Sales reached a seasonally adjusted annual rate of 3.95 million.

Despite the month-over-month growth, sales were down 2.5% from the same period a year ago when 4.05 million were sold.

The median existing-home sales price rose 4.2% from July 2023 to $422,600. It is the 13th consecutive month of year-over-year price gains.

The inventory of unsold existing homes edged higher by 0.8% from the prior month to 1.33 million at the end of July, or the equivalent of 4.0 months' supply at the current monthly sales pace.

Three out of four major U.S. regions registered sales increases while the Midwest remained steady. Year-over-year, sales rose in the Northeast and West but retreated in the Midwest and South.

"Despite the modest gain, home sales are still sluggish," said NAR Chief Economist Lawrence Yun. "But consumers are definitely seeing more choices, and affordability is improving due to lower interest rates."

First-time buyers were responsible for 29% of sales in July, identical to June but down from 30% in July 2023.

All-cash sales accounted for 27% of transactions in July, down from 28% in June but up from 26% one year ago.

Mortgage Rates

According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.49% as of August 15. That's up from 6.47% the previous week but down from 7.09% a year ago.

© Copyright IBTimes 2024. All rights reserved.

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A superyacht captain shares 3 things people who want to charter a luxury vessel should know

• Vacationing on a superyacht may sound like it's all Champagne and sunbathing.
• But before boarding a luxury vessel, superyacht captain Kelly Gordon advises keeping certain things in mind.
• Yachting is a summer pastime with risks and nuances for clients and crew.

Jeff Bezos and Lauren Sánchez soaking up the sun. Travis Barker and Kourtney Kardashian's wedding . Beyoncé's carefree jump into the ocean.

One of these images is likely what comes to mind when you hear the word "superyacht," a phrase generally used to describe a yacht over 80 feet in length.

While ultra-luxurious vessels are associated with all things carefree, tragic events such as the sinking of the Bayesian superyacht off the coast of Sicily on Monday is a reminder that yachting is a pastime with unique risks and nuances. It's unclear what the protocols were on the Bayesian.

For those keen on the idea of chartering a superyacht, captain Kelly Gordon, 42, told Business Insider there are a number of important factors to consider before hopping on board.

Gordon fell in love with yachting after she stepped aboard a yacht for the first time in her mid-20s.

Hellbent on reaching captain level, Gordon quickly worked her way up the chain of command. She's spent most of her time sailing the Bahamas and the Caribbean and is now based in Florida, where she works as a captain on a 108-foot-long privately owned vessel.

Gordon, who has over 12,600 followers on Instagram , shares three factors to keep in mind before boarding a chartered superyacht.

Think of the process of chartering a superyacht as buying a house

One of the most important things to do when chartering a superyacht is to work with a charter broker, Gordon says.

"The charter manager's job is to No. 1: find you a safe boat," Gordon said, adding that in her experience, "Not all programs put safety as high up on the list as it should be."

She also likes to equate charter brokers to Realtors in that they take on the role of finding you the best option for your taste.

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"You find one that you gel with really well and has a good reputation, and then you discuss with them what your budget is, where you want to go, what your activity levels are, what your personalities are like," Gordon said.

Pairing clients with a crew that aligns with their characteristics is a huge part of a charter broker's job, Gordon said.

"If you think about it, you're living with that crew for 24/7, around the clock," she said. "You're not going put someone that just wants to sit and read books all day with a crew that's extremely active."

Find a crew that is competent and prioritizes safety

Charter brokers also help match clients with a competent crew that prioritizes safety.

"I don't know that many people realize just how much their life is in our hands when we cast those lines and we go to sea," Gordon said.

Part of that is having a safety briefing, which Gordon carries out every time she welcomes clients onto a chartered vessel before leaving a dock.

A thorough safety briefing includes informing clients about the location of safety equipment and lifejackets and the procedures for events such as a fire, a person falling overboard, or the boat sinking.

"You should have a safety briefing, and if you don't get one, you should ask for one," Gordon said.

The process, she added, can be different on privately owned yachts, where passengers may be familiar with the vessel.

The Bayesian is a private yacht owned by tech tycoon Mike Lynch; it's not yet known what kind of safety protocols staff and guests were trained on.

Make sure there's a member of the crew on watch 24/7

"A lot of charter guests think when they go to sleep, the crew goes to sleep," Gordon said.

But that shouldn't be the case, she added. "You want to be on a boat knowing that someone's up, because if the weather changes or the anchor starts to drag, you need somebody that's up and ready to go and get everybody else to handle it."

Among the biggest weather risks are tornados, which can be extremely difficult to predict and prepare for whether you're on land or at sea.

"I'm from the Midwest, where tornados pop up," Gordon said. "It's hard to see a tornado coming, and if you do see it coming, the tornado goes where it wants to go."

Most often, that leaves people near the weather event with just minutes to ready themselves, which is even trickier "in the middle of the night."

While rapid changes in weather are tough to contend with, Gordon recommends researching the areas you are sailing in beforehand, like you would when visiting a new country.

"It's no different than if you're going on vacation on land," she said. "You want to know where you're going. Don't put that just all on the crew."

While the research doesn't have to be as extensive as the crew should be doing, it's important to still be "responsible for your own self as well as your family and your guests."

Watch: Why it costs $1 million a day to run one of the world's biggest cruise ships

• Main content

Ukraine war latest: Zelenskyy brands Putin 'sick old man' in video message; Russia and Ukraine swap 115 prisoners each

Russia and Ukraine have swapped 115 prisoners of war, including some who were captured during Ukraine's invasion in Kursk in recent weeks. In an independence day message to Ukrainians, Volodymyr Zelenskyy said the Russian president would not dictate his "red lines" to Kyiv.

Sunday 25 August 2024 14:05, UK

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• Your questions answered : Is there a larger response to come from Russia over the Kursk invasion?

That brings an end to our live coverage of the war in Ukraine for this evening - thanks for following along.

We'll be back with any major updates overnight, and will return to our rolling coverage soon.

Before we go, here's a round up of today's key events:

• Russia and Ukraine each exchanged 115 prisoners of war as Ukraine marked its 33rd independence day. The Russian prisoners were soldiers captured during Ukraine's invasion of Kursk;
• In a video message to the Ukrainian people, Volodymyr Zelenskyy branded Vladimir Putin a "sick old man from Red Square" who would "not dictate any of his red lines to us";
• Belarus and Iran congratulated Ukraine on its independence day despite the two countries' close ties with Russia;
• At least five people were killed and five others injured in a Russian attack in Ukraine's eastern Donetsk region;
• Pavel Durov, the founder and chief executive of the Telegram messaging app, was arrested in France , according to French media reports.

The founder and chief executive of the Telegram messaging app has been arrested in France, according to French media reports.

French television network TF1 reports that Pavel Durov was arrested at the Bourget airport outside Paris this evening.

According to the network, the Russian-born businessman had been travelling aboard his private jet and was the target of an arrest warrant in France.

Telegram has not responded to a request for comment by the Reuters news agency.

Mr Durov - who also founded the now-state controlled Russian social media service VK - left Russia in 2014 after resisting government pressure to hand over the data of Ukrainian protesters.

He now lives in Dubai and holds dual citizenship of the United Arab Emirates and France.

Telegram, which launched in 2013, is one of the top five most downloaded apps in the world.

Lithuania has announced a fresh batch of military aid for Ukraine - including drones and air defence missiles.

Prime minister Ingrida Simonyte said the package would help Ukraine "send Russian occupants back to where they belong".

In a post to X, Ms Simonyte said the aid would consist of "short-range air defence systems and missiles as well as anti-drones, guns, ammunition and equipment".

The package would reach Kyiv by September, she said.

Vilnius has also pledged to send around 5,000 Lithuanian-made drones to Ukraine by the end of autumn as well as allocating €35m (£29.6m) to purchase radars and demining equipment.

Polish-supplied tanks are being used by Ukraine in its offensive in the Kursk region, president Andrzej Duda has confirmed.

"We are touched to see how the PT-91 Twardy tanks, given by Poland [to Ukraine] more than one year ago, are defending today Ukraine on the battlefields, fighting in the Kursk region," he said. 

Vladimir Putin has vowed a "worthy response" to any use of Western weapons in the invasion.

Mr Duda's visit to Kyiv today coincided with Ukraine's independence day celebrations.

In a speech to mark the occasion, he also expressed confidence that the war "will soon end in [Ukraine's] victory".

"I have never had, and do not have, the slightest doubt that, through their united efforts and struggle, the courageous Ukrainian people will uphold their independence," he said.

A Russian air attack on the Ukrainian city of Sumy this evening has left seven people injured, officials have said.

The Sumy regional administration said on Telegram that Russia carried out a missile attack on civilian infrastructure in the city.

Seven people are wounded, including two who are in a serious condition.

"Take care of yourself and your loved ones, do not ignore the air warning signals," the administration said.

Sumy is the administrative centre of the wider Sumy region, which lies in Ukraine's northeast on the border with Russia.

Volodymyr Zelenskyy has signed several laws targeting Russia today - including one that bans religious organisations linked to Moscow.

The series of laws included ratifying a statute that paves the way for Ukraine to join the International Criminal Court (ICC).

The ratification increases the chances of Russia being prosecuted for war crimes it has allegedly committed during its invasion of Ukraine, according to Mr Zelenskyy's office.

Meanwhile, a law has been signed prohibiting the the operation of religious institutions in Ukraine that have links to Russia.

The legislation, which was approved by the Ukrainian parliament earlier this month, created the legal tools for the government to ban a Russia-linked branch of the Orthodox church.

Organisations would have nine months to cut ties with Moscow's linked religious entities under the new law.

Mr Zelenskyy also signed a law offering Ukrainian citizenship to foreigners fighting in his army against Russia.

Ukrainian boxing star Oleksandr Usyk presented Volodymyr Zelenskyy with the coveted WBC heavy weight champion belt as the pair met to mark independence day.

Mr Zelenskyy posted a video of the meeting on his Telegram channel, saying it was an "honour" to receive the belt.

"Thank you for everything you do for Ukraine. For glorifying Ukrainian strength and invincibility. Thank you!" he wrote.

Usyk beat the UK's Tyson Fury to become the undisputed heavyweight champion of the world back in May.

In an interview with Sky News last month, the boxer revealed how he has cried behind closed doors about the war in his country.

Belarus and Iran have both sent their congratulations to Ukraine on its 33rd year of independence from the former Soviet Union, despite the two countries' close ties with Russia.

According to Belarusian news agency Belta, president Aleksandr Lukashenko said his citizens have "always had a special respect and warm regard" for the Ukrainian people.

"We are united not only by the common fate and family ties, but also by the desire to be friends and get along with neighbours," he was cited as saying.

Belarus acted as a staging post for Russia's invasion of Ukraine in 2022 and Mr Lukashenko is one of Vladimir Putin's key allies.

Meanwhile, the Iranian foreign ministry published a message on social media saying it was congratulating the government and people of Ukraine on its independence.

Tehran is alleged to have provided Moscow with hundreds of deadly drones, as well as other weapons, for use in its war on Ukraine.

Volodymyr Zelenskyy has used an independence day message to brand Vladimir Putin a "sick old man from Red Square".

In a video address to the Ukrainian people, Mr Zelenskyy used derisive language to describe Russia's 71-year-old president and his nuclear rhetoric.

"A sick old man from Red Square who constantly threatens everyone with the red button will not dictate any of his red lines to us," the Ukrainian leader said in the video posted to Telegram.

In his speech, Mr Zelenskyy noted that the war started by Russia had spread to its own territory.

"Those who seek to sow evil on our land will reap its fruits on their own soil," he said.

He also said "those who sought to turn our lands into a buffer zone should now worry that their own country doesn't become a buffer federation".

Five people have been injured after a Russian shelling in Ukraine's northeastern Kharkiv region, authorities have said.

The country's state emergency service said Russian forces targeted the village of Novoosynove in the Kupyan district with rockets today.

Four women and a man were injured, it said, while two residential buildings and an area of dry grass caught fire.

"Rescuers extinguished the fire and prevented the flames from spreading to other homes," the emergency service said on Telegram, adding that medics were at the site of the attack.

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NEWS... BUT NOT AS YOU KNOW IT

Putin rattled after Moscow ‘under attack from biggest ever drone strike’

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Moscow came under one of the largest attacks yet by Ukrainian drones since the start of fighting in 2022, further rattling Vladimir Putin as he attempts to fight Ukrainian troops in the Kursk region.

The Ministry of Defence claimed that Russia downed 45 Ukrainian drones overnight, with 11 destroyed over the Moscow region, 23 over the Bryansk region, six over Belgorod, three over Kaluga and two over Kursk.

Moscow mayor Sergey Sobyanin said on his Telegram channel: ‘This was one of the biggest attempts of all time to attack Moscow using drones.’ 

He said strong defences around the capital made it possible to shoot down all the drones before they could hit their intended targets.

Some Russian social media channels shared videos of drones apparently being destroyed by air defence systems, which then set off car alarms.

Alexander Bogomaz, the governor of the Bryansk region, which borders Ukraine, reported a ‘mass’ attack on his region but that 23 drones were destroyed.

While Ukraine has been bogged down in a land conflict in eastern Europe in which the Russians have been driving forward slowly at a heavy cost to both sides, Kyiv has also been attacking Russia with drones.

Ukraine has targeted oil refineries and airfields in an attempt to weaken Russia’s fighting potential, and has also targeted the capital several times.

The drone attacks come as Ukrainian forces are continuing to push into Russia’s western Kursk region.

The daring incursion into Russia has raised morale in Ukraine with its surprising success and changed the dynamic of the fighting.

But it is uncertain how long Ukraine will be able to hold the territory it has seized in Kursk.

It has also opened up another front in a fight where Ukrainian forces were already badly stretched.

The gains in Kursk come as Ukraine continues to lose ground in its eastern industrial region of Donbas.

The Institute for the Study of War, a think tank based in Washington, said in its daily report late on Tuesday that the Ukrainians had made additional advances in their incursion, now in its third week.

The Russian state news agency Tass reported that 31 people had died since Ukraine’s attack on Russia began on August 6, citing an unnamed source in the medical service – figures which are impossible to verify.

Get in touch with our news team by emailing us at [email protected] .

For more stories like this, check our news page .

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Body of final missing person recovered from sunken superyacht off Sicily

Rescuers have recovered the body of the final missing person from a sunken superyacht off the Italian coast of Sicily, according to The Associated Press.

The yacht went down rapidly Monday during a storm, and six people had initially been unaccounted for, prompting dayslong searches.

While officials had only said the final missing person was female, it is being reported that the body recovered Friday was that of 18-year-old Hannah Lynch, the daughter of British tech mogul Mike Lynch.

Mike Lynch — who was recently acquitted of fraud in the U.S. — was confirmed dead on Thursday upon the discovery of his body. Four other bodies were recovered Wednesday.

Mike Lynch had been celebrating his acquittal aboard the yacht with family and his legal team when civil protection officials believe it was struck by a tornado over the water — known as a waterspout — and sank quickly, according to AP.

While the identities of the bodies have not been confirmed, among the missing were Mike Lynch's lawyer Chris Morvillo, who represented him in the fraud trial, and his wife, jewelry designer Neda Morvillo. Jonathan Bloomer, chairman of the Morgan Stanley International bank and insurance company Hiscox was also missing, alongside his wife Judy Bloomer. Jonathan Bloomer recently served as a defense witness in Lynch's fraud case.

RELATED STORY | British tech giant Mike Lynch among 5 bodies recovered from sunken superyacht off Sicily

There were a total of 22 people aboard the 56-meter British-flagged yacht, called The Bayesian, when it plummeted underwater Monday. Fifteen people managed to escape on a lifeboat and were then rescued by a nearby sailboat.

Among the survivors was Lynch’s wife Angela Bacares.

The yacht's chef, Ricardo Thomas, was found dead on Monday. In addition to the six bodies recovered over the past few days, a total of seven people died in the incident.

The UK's Marine Accident Investigation branch is launching an investigation into the watercraft's sinking.

Additional investigations are expected.

RELATED STORY |  Yacht that sank off Sicily was carrying people celebrating tech magnate's acquittal; 6 missing

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