From sale to build to charter: Edmiston is here to advise you every step of the way

Edmiston is delighted to announce that two of the yachts that it has managed from build, RESILIENCE and NORTHERN ESCAPE, have now entered our charter fleet, demonstrating how we support Owners through the full life cycle of their yachts.

RESILIENCE was a customised yacht that Simon Goldsworthy sold to its Owner and managed from design, while James Lloyd helped the Owner of NORTHERN ESCAPE shape the spec of his build to meet his exact requirements.

Here, our two brokers share insight into what goes on behind the scenes when you buy a yacht with Edmiston.

Simon Goldsworthy, broker for the 65m ISA yacht, Resilience

Simon Goldsworthy first met the Owner of RESILIENCE in 2012. He helped the Owner buy a 50m motor yacht, which he owned for five years and about three years into that ownership, the Owner told Simon that he would like to build his own yacht one day. Thus began a five-year journey which recently culminated in the launch and delivery of RESILIENCE.

Below, Simon describes his role in the process.

“We initially met with some designers but as we talked more about the build, the Owner decided he would prefer to build a yacht on a proven naval platform,” Simon says. “So, I started talking to various shipyards who had platforms around the 60-metre size range, one of which was ISA, based in Ancona, on the east coast of Italy.”

Though the initial plan was to build on an existing ISA platform, in the end, so much was changed that the platform for RESILIENCE is entirely new.

Simon says: “Most obviously we stretched the yacht by five metres and added some unique features, like the transparent glass guest corridor through the engine room, which provides direct access to the beach club from the lower deck cabins. This, of course, involved a lot of changes to the layout of the engine room.”

A period of intensive due diligence followed, during which Simon and his technical team visited the shipyard multiple times, reviewed the technical specifications, and negotiated the contract. The Edmiston team also conducted background research into the financial stability of the Palumbo Group (Owners of the ISA brand) and investigated the subcontractors and equipment makers proposed by the shipyard.

Simon says that it’s his years in the business that leave him in good stead to oversee such big projects from inception. He says: “Comparisons are hard to make without experience, and it’s a mystery to me why some Owners think they can do it almost alone without help from experts. No one would try and build an apartment building without a team of people, and yachts are very much more complex than apartments – in some ways they’re a small floating city.”

As well as building a team of surveyors, paint experts, interior designers, and lawyers, to help the Owner navigate the process, Simon says he also acted as a buffer between the shipyard and the Owner.

Sometimes this did entail having awkward conversations with the Owner. “Contrary to popular belief, the customer isn’t actually always right, and sometimes it takes the broker to explain to the Owner that what they want simply isn’t reasonable or fair, and also that it may in the end run contrary to their own interest,” Simon says.

So, there you have it, the role of the broker is to be a diplomat, concierge, and right-hand man.

James Lloyd, broker of the 41m Benetti, Northern Escape

Edmiston has been involved since the outset of the NORTHERN ESCAPE construction process.  We introduced the client to both Benetti and the Oasis 40 project.  Guiding the Owner, we were significantly involved in modifying the general arrangement to suit the family’s requirements and in assisting the technical team with the build specification.

Broker, James Lloyd, who sold NORTHERN ESCAPE, says: “The role of broker has become increasingly significant over the past two years as the Owner was unable to visit the project at any stage due to COVID travel restrictions."  

“The Edmiston broker acted as the conduit through which all information reached the Owner, keeping him abreast of important developments, advising on decisions and making sure the whole experience was as enjoyable as possible given the circumstances.”

James is now overseeing preparations for the delivery of the yacht in January 2022 and the start of its charter season.

“Despite the difficulties the shipyard has faced, we will be able to deliver the yacht ahead of schedule, which is a huge testament to everyone involved,” he says.

“Following delivery, the yacht will have her photo and video shoot so that we can start marketing her for the 2022 charter season.  The Owner and his family are of course very much looking forward to their first cruise on board!”

At Edmiston, we support our Owners every step of the way, from sale to build to charter. So, if you are ready to embark on the exciting journey of building your dream yacht, our team of experts is ready to assist you every step of the way to ensure you get your dream yacht. Built on time, in-line with your budget and perfectly equipped to ensure it’s success, both for you and for future charterers or for an eventual resale. Contact us now.