Momentum You Can Measure: 37 Yachts Sold in 4 Months
37 yachts sold. Four months. Nearly $200M in asking price. A clear signal that the market is moving… and Worth Avenue Yachts is leading from the front.
American Flagged Yachts for Sale
The world of yachting is evolving, and one of the most significant changes in recent years has been the ability for American owners to register their yachts in the United States, thanks to new legislation. This change has opened up numerous opportunities for yacht owners, making American-flagged yachts a popular choice. In this article, we’ll explore the benefits of owning an American-flagged yacht and showcase some of the best options available for purchase.
The Benefits of Flying the US Flag*
Since 2018, when President Trump signed an amendment reversing a 1920 law, yachts over 300 gross tons (GT) have been able to register in the United States. This has led to a notable increase in US-flagged superyachts on the water. Here are some key benefits of flying the US flag on your yacht:
- Patriotism: Displaying the American flag is a proud declaration of your citizenship and patriotism.
- Tax Depreciation: US-flagged yachts offer tax depreciation advantages, making ownership more financially appealing.
- Sales Tax Cap: Information regarding tax cap varies state-to-state. To learn more contact us today.
- Transit: Easier transit within the USA without needing to check in and out with Customs. Yachts can also be sold to US residents while in US waters, unlike foreign-flagged vessels unless duty has been paid.
- Operational Flexibility: Owners of US-flagged yachts who have paid the 1.5% duty on foreign-built yachts can operate them as private vessels or commercial charters in US waters without restrictive permits.
Legislative Changes and Industry Impact
The amendment that allowed yachts over 300 GT to register in the US was a significant achievement for the yachting community. It modernized outdated laws and aligned the US with current maritime standards. The bipartisan support in Congress and the efforts of the US Superyacht Association (USSA) were crucial in making this change a reality.
“This has been a significant issue that the USSA has spent nearly a decade working to correct,” said Kate Pearson, USSA chair and vice president of business development at Safe Harbor Marinas. “We are thrilled to have been an integral part of helping to finally make it a reality.”
Economic Benefits and Job Creation
The ability to register large recreational vessels in the US is expected to have a substantial economic impact. According to Kitty McGowan, president of the USSA, the new legislation will create more high-profile opportunities for American crew, keep yachts in US waters longer, and generate more business for repair and refit yards.
Notable Industry Voices
Prominent figures in the yachting industry have expressed their support for the new legislation. Tilman J. Fertitta, a passionate yacht owner and TV personality, emphasized the importance of this change for American yacht owners.
“For at least a half-century, ridiculous regulations prohibited American citizens from displaying their patriotism by flying an American flag on their yacht,” Fertitta remarked. “With the new legislation, that ends. American yacht owners can now proudly proclaim their citizenship on their yachts.”
Explore American Flagged Yachts for Sale
If you’re considering the purchase of a yacht, exploring American-flagged options can provide numerous benefits. From financial incentives to the pride of flying the US flag, these yachts offer a unique combination of advantages.
Whether you’re looking for a superyacht over 300 GT or a luxurious private vessel, the market for American-flagged yachts is growing. Contact us today to discover the best options available and take the first step towards owning a piece of maritime history.
PIAFFE
Year: 1995
Builder: New England Boatworks
Length: 71 (21.64 M)
$695,000 USD
TRILLIUM
Year: 1987
Builder: Hinckley
Length: 42 (12.80 M)
$245,000 USD
SCOUT 275 DORADO
Year: 2018
Builder: Scout Boats
Length: 27 (8.36 M)
$159,000 USD
Explore American Flagged Yachts for CHARTER
Looking to discover yachting on a shorter term? Try a yacht charter on one of our US-flagged charter yachts.
SOVEREIGN
Cabins: 4
Guests:
Length: 100ft / 30.48m
Price: $48,000 - $50,000
BEYOND BEYOND
Cabins: 4
Guests:
Length: 94ft / 28.5m
Price: $95,000 - $120,000
INDY
Cabins: 4
Guests:
Length: 85ft / 25.91m
Price: $45,000 - $50,000
*At Worth Avenue Yachts, our team is highly experienced in navigating the complexities of yacht sales involving US and international flags, as well as various unique situations that may arise. While we provide expert guidance, we always recommend consulting with a reputable maritime attorney for thorough advice on taxation and flag state regulations. We collaborate closely with trusted maritime legal professionals and stand ready to assist through any challenging selling scenario. Please note that this information serves as general guidance, and specific requirements may vary for each yacht.
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