Miami Boat Show draws dreamers, bargain hunters

MIAMI BEACH, Florida - One of the world's largest boat shows is gracing the docks of Miami Beach this weekend, which means it's time to forget about the recession and dream like it's 2005.

See that 65-foot (19.8-meter), shiny Italian yacht named the Ego Super with a master suite, three bathrooms and the fresh oak-and-leather smell? Only $4.2 million.

Or how about the thin, cigarette-style custom boat made in Clearwater, Florida, with twin 1,075 horsepower engines? Just $900,000.

And that 90-foot (27.4-meter) Pershing yacht docked in the shadow of the glitzy Fontainebleau Hotel? A steal at $10.2 million.

OK, now back to reality. There are 75 fewer exhibitors this year than last, and convention organizers say they expect fewer people to attend. Hotels are also reporting more vacancies than in past years.

Still, there are bright spots.

Over at the Donzi booth, salesman Blane Aarup said by 2 p.m. Friday, the Sarasota company had made two sales — a 35-foot (10.6-meter) one for $200,000 and a 38-foot (11.6-meter) job for $350,000.

"I think everyone came here with low expectations," Aarup said. "It's better than we expected it to be."

The boat show is also trying to tailor expectations, and sales, to the recession-weary. For the first time in Miami, it offered an "Affordability Pavilion," showcasing boats that can be had for payments under $300 a month.

Karen and Tony Salafia of Cape Coral walked by but weren't interested because they bought a boat two months ago, unconcerned about Florida's high unemployment rate and wave of foreclosures.

"People that have boats are going to continue to have boats," said Karen, a 60-year-old tax accountant. "We're here to get new accessories for our new boat."

Other show-goers echoed the optimism, saying that it cost less to buy a small boat than to take the family to Disney World a few times. Many people just gawked at the vessels for fun.

"Somebody's got to be rich enough to buy those yachts," said Stefano Guizzardi, an Italian living with his family in Miami. Asked if he was going to purchase one of the luxury boats, Guizzardi laughed.

"Unfortunately, no," he said.

The economy has caused doom and gloom in the boating industry for months, with repossession and auction brokerages the lone bright spot.

This past week, organizers of the Wildwoods Boat Show and Expo in New Jersey announced the cancellation of its annual event in April. Boat sales were off some 30 percent in 2008 and many smaller manufacturers in the U.S. have experienced layoffs.

"I've never seen a tougher market," said Kim Slocum, the president of the Syracuse, Indiana-based Rinker boats. His company has gone from 500 employees two years ago to 250 today. These days, Slocum is offering buyers and dealers deep discounts on their power boats, which retail in the $50,000-$100,000 range.

"We're doing things we never dreamt of doing to make the sale," he said.

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