2020 A year that no one will forget for a long time………

Thursday 31st December 2020

As the sun sets on the year, we take time to pause and look back at an unforgettable year; and not for the right reasons. We will also take a quick look at the year ahead and the potential issues that may arise due to BREXIT.

Our second full 12 months of trading; we started 2020 ready for another busy season and the year hasn’t disappointed. Despite the issues of business halting during the national lockdown, we managed to complete a respectable 58 sales over the year working with clients around Europe. Looking back to January we could never have imagined how the year would unfold. Hitting the ground running, we managed to complete four sales before the month was out; including the Rustler 44DS ‘PEATSMOKE’. We oversaw the installation of a new Tek-Dek synthetic teak deck on one of the motor yachts we have under a management contract. Oh and we also managed to squeeze in a four day trip to BOOT Dusseldorf where we secured the purchase of a lovely Wauquiez 48 for a client.

COVID-19 – A national lockdown for spring 2020

With the global pandemic starting to unfold in late February and early March it became apparent some blue-sky thinking was going to be required if we were to prosper in the ‘new normal’. Having already invested in some smart gadgets for the video production we quickly got to grips with video editing, YouTube and our new best friend Zoom. As the restrictions eased, it felt like the year whizzed past, as we settled into the new norm. Viewings in person became a rarity. It felt like we spent an ever-increasing part of each day walking around yachts; wafting our phone around while doing ‘virtual viewings’ with buyers from all over the UK and Europe. The adoption of new technology will change the way we do business in a post Covid-19 world. The old perceived barrier of a yachts location while advertised for sale disappearing when a potential buyer can view from the comfort of their office desk or kitchen table.

Unprecedented demand for brokerage yachts post lockdown

Demand across the brokerage market has been exceptionally strong throughout the year. As the weeks of lockdown drifted past and the long hot days of summer arrived we simply couldn’t get new listings on the website quick enough. Appointed to act in the sale of a varied selection of high-quality listings from Europe’s premium boat builders such as Hallberg-Rassy, Sweden Yachts, Malo, Nauticat and Moody we enjoyed a  season of brisk business. We also assisted clients in purchasing yachts lying across Europe, providing a range of services from actively locating yachts and acting as the buyer representative to simple conveyancing services for private purchases.

The B-word and how it may impact yachts.

With December 31^st marking the end of the BREXIT transition period. Our inbox is filling with an increasing number of enquires for information in regards to the VAT status of boats lying both in the UK and the EU27 after this date. We are not in a position to formally advise on VAT related matters; for a definitive answer we would always suggest you contact the appropriate customs authority or a specialist VAT lawyer. The Royal Yachting Association has however published a comprehensive article on the subject. The article attempts to provide answers for all likely scenarios. Be that; UK Flagged and Tax paid vessels returning to the UK or UK Flagged and Tax paid vessels staying in the EU27 and other possible vessel movement scenarios. The full article can be found here.

Worth noting for all owners of vessels lying either in the UK or in the EU27 on December 31^st 2020 is the importance of formally establishing the vessels location at 23:00 on December 31^st 2020. We would advise all owners to ensure they have the required evidence of the vessels location as detailed within the above article.

As we pull the curtains on 2020 we have a selection of yachts under offer with completion dates scheduled throughout January. Brisk business is expected to continue through the early part of 2021 and the demand for quality second-hand yachts looks remain high with buyers scrambling to secure their next yacht ahead of the 2021 season.

From all of us here at Mark Cameron Yachts we wish you all a very happy and prosperous 2021.