2012 Palm Beach Show

What boat show were you at??? This was BY FAR the weakest opening day I've ever seen at Palm Beach. It was a Chamber of Commerce day with the attendance of a rained-out event. I was at the show all day yesterday. With the exception of the media and brokers, I would wager there were no more than 500 people in attendance.

The busiest boats at the show were the beer barges and there *plenty* of tables available. Did you see the food court at the amphitheater? Must have been 50-60 tables. At around 1:00, maybe 10 of them were occupied.

Very disappointing, but not surprising really... the vast majority of people in attendance aren't buying yachts, they are looking center consoles, family runabouts, etc. Has anyone looked at the prices of these boats lately? It's not fuel prices that are killing this industry, it's the price of new boats! These builders seem to think it is still 2005 when money is cheap, easy to get and homes have untapped equity.

Most of the brokerage boats, i.e., sportfish boats, express boats and medium-size motoryachts look like an absolute bargain compared to the prices of a 30' to 35' center console. Runabouts in the 22-27 foot range are going for more than an upscale luxury car.

Boating is a luxury, not a necessity, driven by disposable income. The recreational marine market has lost touch with reality.

Thanks, Carl, for the honest assessment. There are other media--aimed at the trade, no less-- who recently touted "serious buyers" and "lots of sales".

Back around 1985, when the business was robust, a newspaper reporter stopped by our display in the old Coliseum during the New York Boat Show. It was on the weekend, quite snowy, and the place was packed. He asked how many boats we had sold (nada). We asked him what the other guys told him. "Oh, Hatteras sold four, so-and-so sold three, the other guys next to him sold two."
Well, that's not we heard when we all were at the Irish bar the night before.

So, we told him "six!"

A few days ago, a large brand H (the ones built west of LA) motoryacht owned by a bank sold for some cash plus an antique brand H (the ones built in NASCAR Country) and from the numbers, it would appear that the deal was done for half the asking price: a sale so short, Tattoo must have been involved.

When the recovery does come, it'll be a whopper. Just you wait.

As an update to my doomsday opening day post, Friday and Saturday were among the busiest days I've seen at the Palm Beach Show. I'd wager attendance was up from last year, but we can't rely on Show Management's claims for an accurate assessment based on their propensity for exaggeration.

Hard to say if real money was in attendance, but if one can judge wealth by the beauty it keeps, I'd say billionaires were walking the docks in droves. I saw a few notable yacht owners on the docks with pockets deep enough to be their own 3rd world country.

In the eve, I had dinner on Clematis with Tom Serio, where the after hours "show" continued. It's almost impossible to chew your food when your jaw keeps hitting the floor! Palm Beach has some pretty women, but the monthly is way outa my budget.

I'm headed back today, but not to work. Meeting my friend Steve Weagle, a local news channel celebrity. He's looking at center consoles. On that note, glad to say Powerplay has been resurrected by the past owner of Midnight Express, Tom Mason. The new boat looks better than ever.

There are small (40ish) diesel powered convertibles there for less than a 38 to 40' outboard powered center consoles. How does that make any sense?

I am officially ready. Bring it on!

Deals

Glad to see you think that the actual amount of money involved in that deal is "some cash".

Maybe one H was rough and the other H was very good, maybe one had zero hours on major rebuilds and the other did not.

Carl failed to say that after our "dinner and a show", we went back to the docks for some night shots. Actually, CC spent time with the captains, brokers and any felines he could find while I clicked away on the Nikon. He is good as a roady, carrying my heavy camera bag while I scurried around looking for the money shots like a squirrel gathering nuts. And he stayed pretty late, so I do say "Thanks" my friend.
Here's a teaser of more to come.

One of the better deals on the docks was a 40' Mirage Sportfish. This is a newer convertible with diesel power, based on an original Bertram hull design (the 39', I think) and built to as a high standard as any of these ridiculously overpriced center consoles. Word is Mirage has just launched a 61' sportfish too. We may have to get Loren Schweizer onboard for a review. It's being built in his backyard.

Drooling!

You've got me Drooling for some awesome shots!!

Posting from my iPhone at the Waterway Cafe. Ran the boat down to the show, planning to take pics of boats departing. Much to my surprise, at 3:00 PM there was not ONE single boat at the show. The docks were completely vacant! In less than 21 hours, Show Management has booted about 500 boats. Simply amazing.

I'm having a bite and a beer now. Heading home to clean the boat, get some sleep and arrive at Bahia Mar at 10:00 AM. for a much postponed seatrial of the Horizon 58 cat. No rest for the weary!

If you can't carry the monthly, by her a strong cocktail, tell a good lie and wake up HAPPY!
Welcome back Carl!

Question for the experts: what is the major (if any) difference you see between the FLIB and the Palm Beach Show? I'm just guessing, but the FLIB seems to be more international in flavor and geared more towards the superyacht end of the market. Palm Beach looks to be geared more towards the domestic recreational market (sportfishing, weekenders, etc). Appreciate any insight.

There are three major differences the number of boats on display, the number of exhibitors, and the number of attendees.

Palm Beach Boats on Display 2012 Boats On Display | Palm Beach International Boat Show 2012

Palm Beach Exhibitors 2012 Boat and Yacht Companies on Display | Palm Beach International Boat Show 2012

Fort Lauderdale Boats on Display 2011 Boats On Display | Fort Lauderdale International Boat Show 2011

Fort Lauderdale Exhibitors 2011 Boat and Yacht Companies on Display | Fort Lauderdale International Boat Show 2011

The number of people attending the Palm Beach show are measured in the 10s of thousands. It is one of the top ten boat shows in the country featuring more than $350 million worth of boats.

The number of people attending the Fort Lauderdale show are measured in the 100s of thousands. Fort Lauderdale is the largest boat show in the world in terms of display space covering six locations and over 3 million square feet of space. The value of the products on display is more than $2 billion.

So yes you are exactly right, FLIBS seems to be more international in flavor but appeals to boaters from john boats to mega yachts. Palm Beach looks to be geared more towards the domestic recreational market (sportfishing, weekenders, etc) although there were some larger yachts in attendance too such as Diamonds Are Forever at 200'.

That's a fairly accurate assessment, but times are a changin' and so are demographics. FLIBS doesn't have the same draw or attendance as years past. It's certainly more international, but in recent years has begun to feel more like a regional show, although there is still a large influx of business jets during FLIBS. Hard to say if they crossed a big body of water to get here.

Same can be said about Miami; it's not nearly the international show it was ten years ago. Miami may seem more international because the diversity of language spoken. While the convention center still packs 'em in, Collins Avenue strikes me as more of a spectacle for the South Beach crowd these days.

Palm Beach has enjoyed a rapidly expanding population and therefore; attendance. And within close proximity of this show is a concentration of this nation's greatest wealth. For those of us working these shows, or attending, it's a much better show because it's easy to park, short walks, a good lay-out and restaurants abound because it's downtown Palm Beach.

Ultimately, the internet has brought about a 24/7 boat show, negating the need to attend shows to gather information, which can be good because buyers are often better prepared when attending a show.

One main difference I noticed last week at the PB show was that most of the displays were by brokers and not the manufacturers. To see the new Viking's and Tiara's for example you had to go to the HMY display. At Flibs I like that you got to the manufacturer display and then regional brokers are on site.