Extravaganza of Catamaran Misrepresentation

I just returned from a trip to the Caribbean to inspect some catamarans with a buyer. Once we identified the exact model the buyer preferred (in Fort Lauderdale, the Supermarket of Yachts), I called a dozen brokers in the Caribbean to identify the perfect boat. The Caribbean can be a great place to find “deals” on catamarans because there is a huge imbalance of sellers verses buyers. In the case of the Lagoon 440 model, there are 71 on the worldwide market now and maybe 12 will sell in the next 5 months. And most are in the Caribbean so this is where the deals are usually found. I specifically told each listing agent that we wanted a never-chartered boat that showed little use…with no defects in the floors or woodwork…. The engines/gensets had to be low hours and I specified a number of other parameters. Well, when we arrived down-island we found that every single boat that we had narrowed down (to 4 on the “to see” list) had been misrepresented. I could go on for hours about the glaring misrepresentations and omissions, but suffice it to say that the listing agents either never saw the boats and omitted the problems from ignorance, OR they intentionally covered up problems. We didn’t find out until we arrived that one boat had been a “total insurance loss” and was literally a wreck. But this was never disclosed in advance. When I asked the agent, “Did you know this was a "total" recently bought from an insurance company?” he admitted it….But his listing sheet had no hint about the fact that this was a wreck. I wanted to kill him because he wasted our travel money and our valuable time!

Lesson to be learned: be very careful to thoroughly interrogate the listing agents before spending a lot of time and money travelling to see boats. Many of them are misrepresented! Or get me to preview them for you. A lot of these Listing Agents are not experienced (they just happen to work near the boat) and this is why this happens.

Luckily, we stumbled upon a 5 year-old, better than new catamaran that was owned by a mega-yacht captain who was extremely anal about maintenance. And it was priced $100,000 under the other boats. That's the one we bought.

So, all’s well that ends well!

Recent Catamaran Selling Prices

I like to track actual selling prices of catamarans. Here is a list of all the sailing catamarans sold in July 2011 (40' and larger). If you would like prices for power catamarans or catamarans smaller than 40' just contact me. The first price you see is the price it was listed for and when it was put on the market. The second price is the selling price and date it sold. So you can see how long the boat was on-the-market....I have full specs and photos of all these boats if anyone wants to see them.

YearCodesListed US$Sold US$Location
57'Lagoon 571994S U TD FG 445,000(01/11)330,000(07/11)FL, USA
54'Chris White Hammerhead1996S U SD CP 285,000(05/10)280,000(07/11)CA, USA
52'Catana 52 Owner version2005S U TD FG 1,000,898(07/09)873,459(07/11)France
52'Morelli and Melvin Mor...2007S U TD CP 999,000(03/11)980,000(07/11)CA, USA
51'Custom Manta Fast Crui...1985S U TD CP 189,000(08/10)130,000(07/11)FL, USA
50'Lagoon Lagoon 5002006S U TD FG 642,923(06/10)642,923(07/11)France
49'Alliaura Privilege 4952005S U TD FG 929,303(07/11)859,140(07/11)Spain
48'Catana1996S U TD FG 279,000(07/10)220,000(07/11)St. Maarten/St. Martin
47'Catana 47 Owner Version2001S U TD CP 591,216(06/10)570,288(07/11)Fiji
47'Robertson and Caine 47...2003S U TD FG 299,000(05/09)279,000(07/11)SC, USA
46'Dolphin 4602005S U TD CP 495,000(03/10)459,000(07/11)CT, USA
46'Robertson and Caine Le...2008S U SD FG 615,000(03/11)560,000(07/11)HI, USA
45'Fountaine Pajot Casama...1992S U TD FG 229,000(09/10)180,000(07/11)FL, USA
44'Beneteau Lagoon 4402008S U SD FG 399,500(10/10)372,294(07/11)Croatia
44'Dean 440 Aero2001S U TD FG 315,018(02/10)315,018(07/11)St. Maarten/St. Martin
44'Dean 440 Space2003S U TD FG 408,092(04/09)408,092(07/11)France
44'Lagoon 4402009S U TD FG 544,122(02/11)544,122(07/11)Hong Kong
44'PDQ Antares2004S U TD FG 535,000(05/11)535,000(07/11)USA
43'Nautitech 4351996S U TD FG 256,310(06/10)211,921(07/11)St. Maarten/St. Martin
43'Robertson & Caine - 43...2005S U TD FG 229,000(08/10)229,000(07/11)British Virgin Islands
43'Robertson and Caine Le...2005S U SD FG 277,278(09/10)239,127(07/11)Turkey
42'Fountaine Pajot Venezia1996S U TD FG 199,000(10/09)190,000(08/11)Puerto Rico
42'Lagoon 4202008S U TD FG 459,000(12/10)459,000(07/11)FL, USA
42'Lagoon 4202008S U TD FG 449,000(06/11)410,000(08/11)FL, USA
42'Lagoon 420 DIESEL2008S U TD FG 359,000(04/10)333,000(07/11)British Virgin Islands
42'Manta 42 Sail Catamaran2000S U TD FG 289,900(06/11)265,000(08/11)GA, USA
41'Lagoon 4102006S U TD FG 260,871(09/10)247,719(07/11)Croatia
40'Fountaine Pajot LAVEZZI2006S U TD FG 255,000(09/08)230,000(08/11)MD, USA
40'Fountaine Pajot LAVEZZ...2006C U TD FG 284,948(07/10)283,516(07/11)France
40'Kelsall Sun Cat1991S U TD FG 211,921(01/11)193,307(07/11)French Polynesia
40'Robertson and Caine Le...2006S U SD FG 240,000(03/11)220,000(07/11)British Virgin Islands
40'Robertson and Caine Le...2005S U TD FG 269,000(04/11)258,000(08/11)FL, USA
40'Robertson and Caine Le...2008S U TD FG 359,000(05/11)340,000(08/11)FL, USA

Lagoon 400's Sold Recently

There was a request from Dang for Lagoon 400 selling prices. Since it's such a new model there hasn't been much activity on the resale market yet....only two reported sales....and here are the details:

40'Lagoon 4002010
$399,082(09/10)$371,904(12/10)Guadeloupe (FR)

40'Lagoon 4002010 $449,999(02/10)$400,500(05/10)FL, USA

Sunreef 70 Power Catamaran Is An Awesome New Model

The new Sunreef 70 is an awesome new model. It comes in several different layouts and one Owner Version has a full beam Owner's Suite with panoramic wrap-around windows. Imagine laying in a king-size bed and waking up to fantastic panoramic views. There is a bar area in the salon that becomes the focal point for social activities. The flybridge is another huge piece of real estate that makes a great spot for sunset cocktail parties or great views while underway. It also comes in a WavePiercer version that rides like a magic carpet. No other reputable builder can give you this much for such a low price. Contact me for full details.