For yacht repo men, business is booming

at the Miami Yacht Show buyers and Gawker's search for that special something that'll float their boat I love it me too and it's just my size oh yes but it's the super yachts those over 120 feet that are the real show boats here lavishly appointed tricked out with jacuzzis going down elevators nice even helicopter landing pads do you need to be a Russian oligarch to own this yacht no you don't can be a guy from Cincinnati Ohio or it could be from anywhere it may all look like a flashback to the lifestyles of the rich and famous but the last three years have been storming for the boat business I think people will think twice before buying a lot of excessive things Bob tony is a yacht repo man as the economy went down our business went way up lately business for him has been at a high-water mark he even handled the auction of financial fraud stir Bernie Madoff Scott's one of them probably double its value because it was owned by Barry but most of the boats he reclaims aren't from the super-rich but from the regular rich who weren't quite as rich as they thought but have you seen scenes of multimillionaires reduced to tears because they lose their goat you know it's funny it's more multimillionaires that have a sigh of relief it's I knew this was coming but it's it's over with now and I don't know I can go worry about the things that I should be worrying about my job my home and my family is there still a glut in the super yacht market yes still with the economy only now picking up steam there are some super bargains out there I jumped right in so if somebody watching at home is in the market for a 240 foot super yacht by now boy do I have a deal for them she's a relatively new boats been very lightly used Bob McKay JH sells super yachts mo this is the main salon in Fort Lauderdale he gave me the hard sell on Lohengrin at 161 feet it's about half the length of a football field she was sold to the current owner for how much thirty three million dollars and that was two and a half years ago and how much is she on sale for now twenty four million five hundred thousand yep that's considered a steal what is that thirty percent off almost yeah thirty and she'll probably sell for thirty thirty five percent off what he paid for it is it protocol to wave hello to other superyachts yes it is of course manned by a crew of ten does the owners stateroom Lohengrin says McKay JH is like a seven star hotel yes hahaha it's a good mattress too yeah yeah well the best of everything goes into these yachts just every super yacht have a bidet no most American yachts do not have bidet unless they're specified in Europe you couldn't sell a yacht without a bidet oh my gosh it's like a disco even the engine room sparkles this is like studio 54 it really is indeed Lohengrin is a dingy compared to the world's largest yacht Russian billionaire Roman Abramovich is 557 foot Giga yacht Eclipse can I try it yes you'll go ahead but for a starter yacht and a Doug get crazy because you'll start going low and grins fine coming back Nelson to the cinema center Center center left quickly quick reasonably fast all right great I've got a CBS News Company and credit card yep would that work well I don't think that's gonna work we won't even buy the gas we're the Tiffany Network ha ha ha that might maybe you

Channel: CBS News

Views: 92,385

Keywords: cbs, sunday, morning, news, mo, rocca, finance, used, yacht, sales, business, economy, wealthy, bernie, madoff

Id: clfOj64qN1U

Length: 4min 20sec (260 seconds)

Published: Sun Mar 06 2011