Boats and Yachts in the “New World”

Spectator - January 2002

Spectator — January 2002

By Tom Fexas

Boats and Yachts in the “New World”
Time for a career change?
 More of this Feature
• Part 1: “New World”
• Part 2: “New World”
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In the aftermath of the tragic events of September 11, people worldwide retreated to their inner selves and started a long process of intensive thinking. My wife and I were on our boat on Long Island when it happened, and we had about five days of unfettered thinking before our scary scheduled flight back to West Palm Beach.

My personal thinking was along these lines: After such a terrible tragedy, was the work I do (designing boats) insignificant and frivolous? Should anybody be thinking about boats in a time like this? After much thought and discussions with friends in the business, I came up with three solid reasons how boats and yachts can contribute to our new society.

Think about it. A boat is a self-contained, movable home that can whisk you and your family away from danger. If something terrible happens, roadways will be jammed with cars and trucks full of people frantic to get away. When a hurricane is threatening South Florida, the highways become parking lots, and people wind up riding out the storm in their Toyotas. So keep your boat full of fuel and provisions, ready to go at any time. It could save you and your family from much discomfort (or worse).

Those of you who were smart enough to take your money out of the shock, er… stock market when times were good are looking for something substantial in which to invest your money. Hard assets are the name of the game. Good boats usually appreciate in value over the years, and a boat or yacht is second only to homes when it comes to consistently holding (or appreciating) value. A good boat can be a safe investment that you can derive pleasure from and can actually use. Yeah, you can speculate in gold or diamonds or art, but what can you actually do with this stuff other than ogle and admire it? You can’t take your diamonds for an exhilarating run at 25 knots into a steep chop. You can’t sleep on your gold (unless you are King Tut). You can’t anchor a painting (except to the wall).

Next page > It’s Later Than You Think > Page 1, 2

This article originally appeared in the January 2003 issue of Power & Motoryacht magazine.

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