Turns out, the answer to that question depends on who you ask.
Check out a sales listing for a yacht and chances are it includes the year of a refit.
Refit? Is that a hull extension, or new soft goods? There is no general consensus on the answer. Just ask the yacht owner, the captain, the broker or the workers — the definition depends on who is talking.
Bradford Marine in Fort Lauderdale recently did what they consider an extensive refit on the 130-foot Westport M/Y No Bad Ideas that included a 9-foot deck extension, a new fiberglass hard top, and a new aluminum mast.
“Conceptually, it’s the same as a home renovation — you can just change the bathroom or you can take it down to the studs. We think of a refit as more of going down to the studs,” said Michael Kelly, president and chief operating officer of Bradford. “There is no formal definition within the industry and owners aren’t as concerned with what it’s called. They just want us to bring their vision to life.”
Does the industry need a definition?
Use of the word “refit” leads people to expect the work to be major, but sometimes it is primarily cosmetic, even with a price-tag in the millions, according to longtime yacht Capt. Mike French. “Just to change the color is a million and to change the teak is another million — but you haven’t addressed issues in the engine room,” he said.
It is a problem when someone buys a yacht that has been described as a refit, but later the owner finds it still needs major work.
“There is no legal definition, but maybe there is a case to tell about the work and be transparent?” French pondered. “I’ve had owners ask me ‘Should I buy this boat?’ because they don’t know what the word ‘refit’ really means.”
There are so many variables, Capt. Wendy Umla noted. One person’s refit might not be another’s; it depends on what the yacht owner needs and wants. Umla compared it to the sale of her house: She had invested in substantial improvements before she sold, but the new owners changed it all. “New owners often just want to make it their own,” she said.
With years of experience in some of Florida’s largest yards, Colin Kiley, chief revenue officer of Bradford Marine in Fort Lauderdale, said jobs are typically either repairs, maintenance, projects, or refits.
