Biz Extra
Published: August 7, 2022 | Updated: 8th August 2022
In this month’s Marine Matters, we meet independent yacht broker Peter Keats, of Peter Keats Boat Sales, a well-known personality in the Dorset marine sector, and beyond.
Gallagher is proud to act on behalf of Peter Keats Boat Sales, one of the most experienced yacht brokers on the South Coast, with over 30 years of expertise.
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Tell us a little bit about yourself
I’m married to Mandy and we have three children; Eleanor 21, Henry 13 and Rosie 10. I’m born and bred in Poole. I went to Homefield School in Christchurch and then King’s College, Taunton, where I started sailing and motor boating at the age of 13. The school has a Royal Navy section of the Combined Cadet Force, which was a great introduction to motor boating and the marine lifestyle. During the holidays I attended residential courses at various Royal Navy bases, where I was fortunate to gain formal RYA qualifications.
After I left school in 1988 I joined Cobb’s Quay Marine Sales as a broker. However, from 1992 to 2000 I joined the family business which was a car dealership in Blandford Forum. The sector was going through lots of challenges at that time and I missed the marine sector, which I found much more enjoyable than the motor trade. So, in 2000, I came back to marine and joined Ancasta International Boat Sales, before joining Clipper Marine in 2013. I, therefore, have a great deal of experience of all types of craft – both sail and power.
When did you start Peter Keats Boat Sales?
It was in 2021. Lockdown was the catalyst for change for me. During lockdown in 2020 I was furloughed from Clipper Marine and took on the responsibility of home schooling. I’m very proud of what we achieved as a family and the progress that my children made, achieving not just what they were expected to do, but above and beyond. We also had a great deal of fun doing it. When life started returning to normal I felt that I didn’t really want to carry on doing the 11 days on, three days off cycle at Clipper, which had always meant a lot of time away from the family. This was a realisation that had been dawning on me for a long time. I certainly evolved during Covid.
In 2021 I took the plunge and set up the business. It’s built on 24 years of yacht broking experience and I like to say that we offer a professional service, by modern means. We’ve built an enviable reputation, have a huge scope of knowledge and are known for our reliability and expertise.
Peter Keats Boat Sales is a true brokerage service, with experience in all types of craft, whether that be sail or power. We operate all over the UK and, in recent months, I have sold several boats in Italy and France for their British owners.
Good brokerage is about relationships and open and honest communications between the purchaser, the vendor and the broker are key, that’s what we do well. Our clients know exactly what to expect and how things are going to happen. We’re scrupulous in our communications throughout the journey of the boat sale and purchase.
‘Pelican’, a Contessa 32, which is on the market for £29,950 through Peter Keats Boat Sales.
I do some walk-through videos on You Tube, these work really well for just getting an awareness of a boat and referring people. We’re meticulous in the preparation of our boat sales details. We always invite the owners to comment on the details, which gives a real background to the boat; how she’s been used and provides a subjective part of the details where the owners can give their own heartfelt thoughts on the boat, that’s really useful. We always give a full inventory so that people fully understand and know what they’re buying – this makes the sale process much easier and transparent.
Don’t be surprised if you see me turn up to meetings on an e-bike. The reasons for this are many – it is often quicker than driving, it’s environmentally friendly, it helps keep me fit and it is fun!
Do you have a marina-based office?
No, we don’t. Twenty years ago, this would have been essential – a broker could be nearly overwhelmed during weekends with ‘walk in’ customers looking for a boat to buy. The internet has dramatically changed this approach to buying and it is a rarity now for people to just walk in and generally ask what you may have listed that suits their requirements. Purchasers nowadays do a lot of research online prior to making contact and they understand what stock you have, they are a lot better informed. Marina-based offices have, in our opinion, become an expensive and unnecessary millstone for brokers and I’m glad to say that we are able to transfer the savings to our clients with reduced fees.
What would you say about the current market?
It’s interesting. The Covid pandemic brought on a buying frenzy for boats, supply chain problems restricted the stock of new boats and Brexit denied access to European boats because of VAT. As a result, boat prices, particularly on power boats, soared.
A Catalina 320 ‘Jaskar’ which is offered for £37,500 through Peter Keats Boat Sales.
I believe the market is beginning to change again as it’s not the best time economically. It’s possible that in the next six months that purchasers may exert more control than they have done for the last two years. It’s going to be a change for all in the sector, it may not be as easy as it has been previously. In the last two years conditions have been very conducive to easy boat selling. The future may not be so easy and that is when my experience will come to the fore as I have been through many economic cycles and sold boats in varying economic environments.
