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Tiara adds sparkle to new boat sales

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Further evidence of an improving outlook for boat sales in Bermuda, and the economy in general, has come from the sale of a high-spec motor yacht by PW Marine Bermuda.

The first new Tiara boat to be sold on the island since 2005 is the latest fillip for the company, which has previously reported a significant uptick in sales that began last year.

The Tiara 36 Coronet has a base-boat price of about $450,000, although this goes up depending on the specifications, equipment and accessories a new owner chooses as add-ons.

Linda Down, sales manager at PW Marine, is in no doubt that the first sale of a new Tiara in Bermuda for more than a decade is significant.

She was involved in marketing and selling the prestigious marque in Bermuda for many years before PW Marine secured the dealership rights three years ago.

As she prepared to hand over the 36-foot boat to its new owner, she said: “To me it indicates the economy is healing and people are feeling more confident in Bermuda going forward.

“The America's Cup is part of the equation; the prospect of securing a good position on the water. Clearly, if you have family and friends coming to visit you want to have a platform to watch the races.”

In April, Ms Down noted that the lean years that followed the economic downturn of the late 2000s appear to have come to an end following a “tremendous growth in sales of new boats” during the past 18 months.

The purchases have been fairly evenly split between Bermudians and non-Bermudians, with the former tending to make the larger buys.

The Tiara 36 Coronet is hailed as an “elegant choice”. It features a small grill and barbecue station, with sink, counter, cooler storage and a refrigerator. The upper cockpit area, which has plenty of seating, can be enclosed and cooled with air-conditioning. The boat is fitted with Garmin electronics.

In the below-deck retreat area is a dining area that can quickly be transformed into sleeping quarters. There is a television, sink, small stove, microwave, and an aft bunk where children can sleep.

“People can overnight, or go out on the water for a weekend,” said Ms Down, who added that previous clients had mentioned how they loved the “striking beauty” of the boat.

While the America's Cup finals in Bermuda next year have clearly increased the level of interest in owning a boat to watch the spectacle, Ms Down said there is also a trend in people upgrading their boats.

During the past week, PW Marine has delivered four new Boston Whaler boats to clients, and it has a further two handovers lined up for July.

“Last year and this year combined the sales have been significantly higher, and we are still talking to clients about buying this year; it is never too late in the season,” said Ms Down, who has been involved in the industry for more than 30 years.

PW Marine, which has its headquarters on the corner of Serpentine Road and Woodlands Road, in Pembroke, has also seen improving sales in the supply side of the business.

PW Marine Bermuda has a Facebook page at: https://www.facebook.com/PW-Marine-Bermuda-137154523063636/

Uptick in sales: this Tiara 36 Coronet is the first new Tiara to be sold in Bermuda since 2005, and is seen as further evidence of growing confidence in the economy (Photograph by Scott Neil)
Driving seat: the cockpit of the Tiara 36 Coronet
Time to eat: a grill, sink and refrigerator fitted on the Tiara 36 Coronet
Put your feet up: a seating area converted into a bed in the lower quarters of the Tiara 36 Coronet

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Published June 06, 2016 at 9:00 am (Updated June 05, 2016 at 10:24 pm)

Tiara adds sparkle to new boat sales

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