Four months in and the business is off to a successful start, with the addition of key staff members and a physical base at Dubai’s Ibn Battuta Gate office building which, despite its non-waterfront location, is already becoming a hub for yacht deals both locally and internationally. The company’s launch has been well received by clients and industry peers, although coming at a time when many would say activity in this market has somewhat dried up. John Bush, Partner at Bush & Noble said:
“The feedback we’ve received so far has been tremendous, not only from our clients but from companies we work with in the industry. Of course our timing has been questioned because the yacht market is not what it used to be. Gone are the days of spending millions of dollars at the drop of a hat, but then that’s not what yachting should be about, and it’s not what Bush & Noble is about. We’re here for the love of the industry.”
Partner Brett Noble added:
“People are still buying boats and the market is very active if you know where to look. The larger yacht owners, of 30M and above, are just as enthusiastic today as they were 4 or 5 years ago. At the other end of the scale buyers have been steadily dipping their toes back in the water for the past year or so with smaller boat purchases - we’ve even had a number of first time buyers approach us which is always gratifying as it shows the industry is growing.”
Unlike typical yacht brokers, one of Bush & Noble’s core offerings is its consultancy service. Whilst brokerage is important and will often act as the main source of income for businesses in this industry, Bush & Noble believe that looking after existing yacht owners is vital to its continued growth and success. Noble continues:
“Buying and selling yachts has an important place, but someone needs to look after owners that are neither buying nor selling. Boating should be fun - we take away the hassles associated with owning a yacht so owners can concentrate on the finer side of their purchase. People need to enjoy their boat or the industry won’t go anywhere, that’s our number one concern.”
The company will visit the iconic Miami International Boat Show from 14th – 18th February where they aim to promote the UAE to key players in the marine industry ahead of the Dubai International Boat Show, held at Dubai International Marine Club from 5th – 9th March. Additionally overseas, Bush & Noble have formed alliances with several companies which will see them working with yachts in the Americas, Europe, Seychelles and the Far East.
For more information on Bush & Noble visit www.bushandnoble.com.