Interview with Luke Pickford of Horizon Shores Boat Sales by Andy Kancachian
WHAT ARE THE BOATING TRENDS DURING COVID-19?
A: We only deal in used boats, and the need and want for a boat has skyrocketed during COVID. Due to everyone being unable to travel overseas, people who have surplus money have been buying boats, cars, caravans, camper trailers, and are exploring and enjoying their own backyards. Border closures and no international travel due to COVID mean that people are holidaying at home instead of overseas.
We usually keep around 60-80 boats in stock, but we currently have 30 boats. A lot of boats aren’t even being listed before they get sold!
SAILING OR POWER BOAT?
A: Power boat. 28-36ft sports cruisers have been our best sellers.
MONO HULL OR CATAMARAN?
A: Mono hull
WHAT ARE THE PROS OF BUYING FROM A BOAT BROKER RATHER THAN AN ONLINE PRIVATE LISTING?
A: A broker is an expert in the field and will be able to assist you through the whole boat-buying process. We are able to provide and organise a facility for the buyer to be able to conduct due diligence. We can also recommend surveyors, mechanics and shipwrights if the buyer is having trouble acquiring trusted contacts in this field. If you buy from a reputable broker, you will reduce the possibility of buying a lemon.
WHAT SERVICES DOES A BOAT BROKER OFFER WHEN BUYING YOUR BOAT?
A: A broker can assist in organising mechanical inspections, survey inspections, finance and insurance, if needed. We walk you through the process step by step, and are there to assist both the buyer and vendor.
WHAT DOCUMENTATION IS THE RESPONSIBILITY OF THE BOAT BUYER?
A: With the assistance of the broker, a buyer will be required to complete an Offer To Purchase with the broker, and leave a fair and reasonable deposit. A buyer is also recommended to obtain a Mechanical Report, Survey or Inspection Report, and insurance on the vessel once purchased and submitting the QLD government’s Registration Transfer form. A broker can assist the buyer with all of these.
SHOULD YOU ORGANISE A PROFESSIONAL BOAT SURVEY BEFORE YOU BUY A BOAT FROM A BROKER?
A: Yes. We highly recommend that you do your due diligence when buying a boat. Organising and paying for a survey is advisable, along with a mechanical inspection. This will give you peace of mind. Any surveys or mechanical reports you organise and pay for as a buyer become your intellectual property.
SHOULD YOU REQUEST A SEA TRIAL WHEN BUYING A BOAT? WHAT SHOULD YOU CHECK WHILE ONBOARD?
A: Yes, absolutely! A sea trial is a must, as it gives you the chance to see how the boat drives, and gives you a feel for what it will be like out on the water.
HOW DO YOU CHOOSE THE RIGHT BOAT FOR YOUR NEEDS? IS THERE A FORMULA FOR CHOOSING?
A: A great broker won’t just put you in any boat you enquire on. A great broker will ask you in-depth questions of what you are looking for and what your needs are, as sometimes you might be looking at a boat you like but that doesn’t actually suit or meet your needs. There is no exact formula for choosing a boat, but experienced advice will put you in the right boat.
CAN YOU PROVIDE SOME SIMPLE ADVICE FOR A PROSPECTIVE BOAT BUYER?
A: Do your research and ask lots of questions. Be prepared to negotiate. Be open minded about other boats. Do your due diligence, and organise a mechanical and survey inspection.
WHAT ARE THE COMMON MISTAKES A BOAT BUYER WILL MAKE WHEN CHOOSING A BOAT?
A: They choose a boat that they think is their dream boat, but it’s not actually suited to their needs and actual requirements, and eventually don’t end up using it.
SHOULD YOU BUY NEW OR USED? PROS & CONS?
A: You should buy the boat that suits your budget, your needs, and your requirements. A new boat comes with all those new boat feelings, clean, first time owner, warranty, etc. A used boat is exactly that, a used boat. Although its not in perfect condition, the savings are considerable, so if it suits your budget and your due diligence checks out, then consider going for it!
WHAT ARE THE PITFALLS OF BUYING A USED BOAT?
A: I wouldn’t call it a ‘pitfall’ but a used boat is exactly that, a used boat. It’s been out on the water and enjoyed, so there may be some items that need maintenance, fixing and/or replacing. Be prepared for those.
HOW CAN YOU CHECK THE USED BOAT IS NOT A CYCLONE-AFFECTED/CAPSIZED VESSEL?
A: A boat broker is required to do a PPSR/REVS check on every vessel sold. A PPSR/REVS check will show finance owing, thefts, and write-off history.
WHAT IS THE BEST ADVICE TO FINANCE A BOAT PURCHASE?
A: Talk to a boating specialist finance company first, and have your finance pre-approved. Know the types of boats they will finance, as the age of the vessel is an important factor in finance. By being prepared with a deposit or prearranged finance letter, you are less likely to overrun your settlement date.
I WANT A FISHING BOAT, WIFE WANTS A CRUISER, WHAT SHOULD I BUY?
A: You should buy a family cruiser, such as a 275 Sea Ray AmberJack, that’s also good for fishing.
WHAT ARE THE MOST POPULAR BOAT ENQUIRIES?
A: Currently, our most popular boats/most in-demand boats are our 24-32ft sports cruisers. People are wanting to take their family and friends out for the day or weekend, socialise and create a family lifestyle.
HOW HAS THIS IMPACTED USED BOAT MARKET?
A: It’s impacted the used boat market in an extremely positive way. It is currently a sellers’ market and sellers are receiving more money for their used boats now than they normally would. Demand outstrips supply.
WHAT ADVICE ARE YOU GIVING BUYERS?
A: Be prepared to pay a little bit more for the right boat at the moment. People need to be ready. When you find the right boat, ACT STRAIGHT AWAY. Get out there and meet with brokers, because a lot of boats are being sold prior to going online. There are about 1/3 less boats listed online now than before COVID.
Whether you are looking to buy that dream boat, upgrade or just looking for something different, the Team at Horizon Shores Boat Sales, are there to assist and guide you through the process. www.hsbs.com.au
Published in print October-December 2021
