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How To Buy A Yacht In Panama City, Panama

Denison yacht broker juno prudhomm takes us through the process of buying a boat in panama city..

Panama City is the capital of Panama and located on the Pacific coast of the country. It’s known for its cobblestoned historic center, vibrant cafes and bars, and the Miraflores Locks, which offer views of ships traveling through the Panama Canal.

Panama City is often overlooked as a base to visit the canal or as a stopover to South America, but it actually offers plenty of activities and opportunities for visitors. This dynamic city seamlessly meshes modern and traditional cultures. Here you can visit Casco Viejo (a UNESCO World Heritage site), hike Cerro Ancon to spot wildlife, or embark on a fishing trip. As it’s surrounded by two major bodies of water, boating is a popular activity in Panama and there are plenty of opportunities to buy a boat in Panama City.

Miami-based yacht broker, Juno Prudhomm is experienced and knowledgeable in buying or selling a boat in Panama. We sat down with Juno to learn about his work and the process of buying a boat in Panama City.

Juno goes by the motto “the more you learn, the more you earn,” which has helped him move forward and be open to new opportunities. Over the years as a Denison yacht broker , Juno gained the experience and knowledge to guide clients through buying or selling a boat, not only within the United States but also in Panama City, Panama. So how did Juno end up with work in Central America?

“The first time I did business in Panama was to sell a Scout center console,” said Juno. “I sold the boat and built a good rapport with that particular client. Thanks to that connection and through an email blast, another client in Panama reached out to me and now I’m selling his sportfish.” 

By now, Juno understands the process and procedures of buying a boat in Panama and confidently guides clients through the entire process. To start, Juno recommends flying to Panama City to experience the destination and browse yachts in person. As of April 2021, a negative COVID-19 test is required for entry taken no more than 48 hours prior to arrival. A mask mandate is in effect for the entire country.

It’s an easy flight to Panama City from the United States — a 3 hour non-stop flight from Miami or a 6 hour non-stop flight from Los Angeles. There are plenty of hotel accommodations throughout Panama City that are safe and resort-style, such as the Hilton, Wyndham, The W, and Summit Rainforest & Golf Resort.

Once in Panama City, which boasts a skyline and waterfront similar to Miami, Juno will guide you through finding a boat that’s right for you. There’s a wide variety of inventory in Panama and plenty of boat owners who are motivated to sell. Sportfish and center consoles are popular and readily available in the area.

“Most of the sportfish yachts in Panama are in really great shape because they run with a full-time crew,” said Juno. “In my experience, the boats in Panama are usually in pristine condition in terms of a late model sportfish or late model center console. They’re also located in nice marinas.”

When you find a boat you like, it’s easy to get it hulled out in Panama City. Juno knows which marinas are suitable to hull the boat out of the water for an inspection or survey. Although he notes, there are not a lot of surveyors in the area and recommends an alternative option.

“My best recommendation is to find a surveyor in the U.S. and fly them over to Panama to perform a survey on the boat,” commented Juno. “It’s worth it to fly someone out and cover their accommodations, transportation, and food expenses while they inspect the boat.”

Thanks to Juno’s connections in the area, he can help you find a great deal on a boat that’s in pristine condition. So after you find, survey, and purchase a boat in Panama City… what’s next? How do you get it to the United States?

“It only takes about 5 business days to ship a boat from Panama City to the U.S. It’s an easy and standard process when dealing with customs and delivering the boat to the final destination,” said Juno. “I’m in the process of selling my third boat in Panama — 2 of the boats were shipped to the U.S., so I understand the process and can confidently guide clients through shipping and customs.”

          View this post on Instagram                       A post shared by Juno Prudhomm 🇭🇹 (@junotheboatguy)

Juno most recently sold a 54-foot Bertram convertible 2013 located in Panama with an asking price of $1,185,000. It was shipped from Panama City to Fort Lauderdale and is now heading to Japan.

But Juno’s not all work. He recommends that if you have the time, to experience fishing on the Pacific side of Panama, which he notes is phenomenal. 

“If you’re going to buy a boat in Panama City, plan a fishing trip while you’re there. It’s a really exotic destination with some of the best fishing I have ever done!” Juno commented.

Through his experience, Juno finds that boat owners in Panama enjoy working with firms like Denison Yachting because of the company’s reach and stronghold in the industry. Consider buying a yacht in Panama City and let Juno guide you through the process. And hey, if anything, at least you get to experience an awesome boating destination.

Juno Prudhomm

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• Yachts for Sale in Panama

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Explore the largest online selection of luxury yachts for sale , featuring only the highest quality superyachts from the Panama leading brokers.

For expert information and advice about buying or selling boats and yachts in Panama contact one of our experienced advisers who will be happy to assist you.

Yachts for Sale is the company that successfully performs all transactions such as yachts, boats and yachts sales brokerage. Guaranteed sales transactions are made by all the operating companies we will do. We serve Panama and the whole world.

• Boats for Sale in Panama

For aspiring yacht owners looking for a luxury yachts, we have put together a fine selection of luxury explorer yachts, motor yachts, used yachts, sailing yachts, trawler yachts, classic yachts, boats and yachts for sale from all over the world. Search Yachts for Sale collection of superyachts for sale and filter by type, length, asking price or age. Narrow the results by selecting specific features, or browse by speed, designer and much more.

Used Yachts for Sale in Panama

Used yachts for sale near you in Panama and across world. Find your ideal boats, compare prices and more. Get an email alert for new ads matching your search. Buying a boats has never been so easy!

When looking for new, pre-owned, and used used yachts for sale in Panama, the amount of time it takes to narrow down exactly what you want can some times be intimidating. With so many manufacturers, models, and boats types, how do you begin to find the right yacht that meets your budget and your needs?

 Yachts for Sales is the one-stop professional yacht brokerage that can navigate you through the frustrations and help you make the best decision possible when it comes to the purchase of your next boats. We can help you find the yacht for sale, set up the showings, help negotiate pricing, handle the yacht closing and everything else involved, and we do all of this so you are able simply sit back and to enjoy the process. Buying a yacht requires a significant investment and it is our goal to provide you with detailed information and professional guidance.

When searching for a yachts for sale , there are a plethora of options. The yachts on our website number over 1,157 listings, including yachts built by top brands such as Tartan, Albin, Sunseeker, Mainship, Pursuit, Selene, Hatteras, Outer Reef and more. Yachts for Sale can also help you find the best used center-console boats for sale in Panama from brands like Yellowfin, Contender, and more. To view used yachts for sale in Panama, browse below and click the photo for more information.

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• Yachts For Sale

As the sun slowly sets over the Pacific Ocean, casting a golden glow on the picturesque Panama City skyline, the prospect of exploring the stunning coastlines and tropical wonders aboard your very own yacht becomes an enticing possibility. Panama, known as the "Crossroads of the Americas," offers a unique blend of natural beauty, rich culture, and strategic location that make it an intriguing destination for yacht buyers.

When it comes to yachts for sale in Panama, the market may not be as extensive as in some other yachting hubs. However, there are still opportunities to find exceptional vessels, particularly in the popular yachting destinations of Panama City, the Pearl Islands, and the San Blas Islands. From sleek motor yachts to sturdy sailing vessels, there is a range of options to suit different preferences and budgets.

One of the key advantages of buying a yacht from Panama is the country's strategic location as a gateway to both the Caribbean Sea and the Pacific Ocean. With its famous Panama Canal, it provides convenient access to diverse cruising grounds, from the idyllic islands of the Caribbean to the remote and exotic regions of the South Pacific. This makes Panama an attractive choice for adventurers seeking to explore multiple destinations without the need for lengthy ocean crossings.

Panama also offers several tax benefits and incentives for yacht owners. The country has a favorable tax regime, including exemption from import duties and other taxes for yachts registered under the Panamanian flag. This can result in significant cost savings, making yacht ownership more financially appealing.

However, it is important to consider the potential challenges and cons of buying a yacht from Panama. The limited local market means that finding the perfect yacht may require more time and effort. Additionally, navigating the legal and administrative processes involved in yacht transactions can be complex, especially for international buyers. It is crucial to work with reputable brokers and legal professionals who have experience in the Panamanian yacht industry.

The data relating to yachts for sale on this website come in part from a cooperative data exchange program in which this yacht brokerage participates. The listings displayed may not be all the yachts available. Boats for sale listed by yacht brokers other than this broker include the name of the listing broker on the listing detail page. Zev Freidus is a licensed yacht broker with Rick Obey Yacht Sales in Fort Lauderdale, FL.

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• Boats for Sale

Boats for sale in Panama

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Lagoon 46'

OFFERED BY:

Denison Yacht Sales

Babur Yacht | 46' Lagoon 2021 A price reduction of more then $100,000 - a statement by a serious seller. All reasonable offers will be considered. BABUR is a 2021 Lagoon 46 sa...

Beneteau Oceanis 42 CC

Yacht Broker Caribbean BV

Clean example of this perfect couple's boat. First owner, lived aboard seasonally. Small Projects to be done, invest $25000 USD and you will sell it for $145.000 USD The Beneteau was deliver...

Mikelson 43 Sportfisher

Rick Obey Yacht Sales

Don't miss this opportunity to buy thisbeautifulMikelson 43availablenow!! This boat has been maintained with an open checkbook since the owner had it. T...

Newton 36 Dive Boat

Frank Gordon Yacht Sales

2017 Newton 36' Dive Boat This maneuverable and efficient vessel features over 300 square feet of floor and deck space, seating and storage for numerous divers with water level entry and ample c...

Tiara 38'

David, Provincia de Chiriqui, (Panama)

Agape Yacht | 38' Tiara 2007 Tiara 38 Open TTS - Upgrades: (2) Garmin 8616 Galley AC FLIR night vision (3) Video Cameras Agape HIGHLIGHTS Yacht Detail...

Azimut Grand Jumbo

This beautiful Azimut 105' Jumbo is a clean and beautifully maintained boat. The boat is located in Panama City, Panama and the owner is ready to sell for the asking price.The ...

Christobal, (Panama)

YACHTS UNLIMITED

S/V Althea is a newly redone 2000 Leopard 45/47 catamaran, for sale by owner. Althea has had her sugar scoops extended by 2 feet to a total of 47 feet to enhance her performance in 2023. The c...

Azimut Flybridge

This captain maintained, one owner, 2017 66' Azimut Flybridge boasts a 300 sq ft flybridge along with 4 staterooms and additional room for crew. Commissioned in 2017, "Prive" stands alone in he...

Lagoon 42'

Boca Del Toros, (Panama)

Road Less Traveled Yacht | 42' Lagoon 2013 S/V Road Less Traveled is a 2013 Lagoon 421, She is extensively upgraded extended for blue water cruising, completely equipped to begin yo...

Riva 33 Aqua Super

Allied Marine Brokerage and Charter

Aquarivacontinues the legendary Aquarama heritage while developing a cult following in her own right. Often copied but never reproduced, her elegant and sinuous lines, precious woo...

Prestige 55'

Shanti III Yacht | 55' Prestige 2016 This 2016 Prestige 550 Flybridge is managed by a full-time crew. She has always been captained- maintained since the owner has taken ownership. ...

Hatteras 60'

Sea Hunter Boat | 60' Hatteras 2009 This 2009 Hatteras 60 GT is a 2-owner boat, and the current owner has owned it for 7 years. She is managed by a full-time crew of 2 who keeps th...

Azimut 66'

66' Azimut 2017 This captain maintained, one owner, 2017 66' Azimut Flybridge boasts a 300 sq ft flybridge along with 4 staterooms and additional room for crew. Commissioned in 2017...

* Price displayed is based on today's currency conversion rate of the listed sales price.

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Panama Yacht

Panama is definitely not a preferred country for a Panama Yacht purchase. The Flag is what the yacht owners are after when they head to Panama. This country offers vessel registration that is easy, "painless" and inexpensive. This has been elaborated below.

Panama is a very unique country, which lies in the middle of two continents, and connects both North and South America, and the Pacific and the Atlantic Ocean. The value of this land was realized during the dawn of all of the geographical explorations, when the first explorers crossed the so called Isthmus of Panama and encountered the Pacific Ocean. The Channel that was created to make crossing much easier allowing more ships to pass through had been built much later during this historical period.

Shestakov Yacht Sales: Your Source for a Panama Yacht

Panama is not a very prospering country, but to be fair, it makes great use of all advantages. Two thirds of the country's GDP is provided by tourism and international transit traffic. The laws here are the most lenient for Panama Yacht owners. Panama is not the preferred country for a yacht purchase, since Mexico, the Caribbean and the US are close by offering a good product for a fair price; however, on the other hand, registration services are an entirely different story. You can see a Panamanian flag in nearly every corner of the world. This may be attributed to local legislature permitting registration of any vessel to any individuals, even without Panama's citizenship. The fees are miniscule, and the time it takes for the registration process from start to finish is minimal. If you decide to buy a yacht in Panama and head out to sea immediately, it won't take much time to get prepared either.

Contact Us for a Panama Yacht

The yachting market is closely connected to the tourism industry in Panama. There are a lot of docks and Panama Yacht clubs, but even in more abundance are companies that provide chartering services. It is very easy to obtain clearance for a yacht to travel to practically anywhere, be it the Atlantic Ocean, the shores of the South America or the State of Florida in the United States of even the Pacific Ocean. Most of the yachts for sale in Panama are pre-owned and often very old, though the new ones are also there and are being sold at relatively attractive prices.

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To learn more on the “Yacht Sales in Panama” or to get advice on how to buy or sell a yacht or get a great price for a yacht charter, please call: +1-954-274-4435 (USA)

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Boats & Yacht For Sale in Panama

If you’re looking to buy a boat or yacht in Panama, you’ve come to the right place! In our sections of yachts and boats for sale in Panama, we offer a wide range of brand new as well as used boats and yachts for sale in Panama. From trusted yacht brokers or directly from the owner, contact us for the best boats and yachts for sale in Panama!

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Panama - The Perfect Place To Buy A Yacht

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Boats for sale in Panama

View the broad range of boats for sale in Panama on offer in your area, review the detailed information about each vessel, compare prices, and uncover the best boats deals

1991 Hallberg-Rassy 49 for sale

Hallberg-rassy.

2007 Sea Ray Sundancer 480 for sale

1996 Pendennis 77 for sale

2000 Bertram 60 for sale

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2007 Lagoon 440 for sale

1976 Lunstroo Marwin 33 for sale

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2000 Lagoon 410 for sale

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2017 Azimut Yachts for sale

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2016 Fountaine Pajot Saba 50 for sale

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Buy boats in Panama

DailyBoats.com lists boats for sale in Panama, with prices ranging from $10,000 for the more basic models to $10,500,000 for the most expensive. These yachts come in various sizes, ranging from 27.33 ft to 470.01 ft, with the oldest yacht built in 1961. This page features Hallberg-Rassy, Sea Ray, Pendennis, Bertram, Rampage, Lagoon, Lunstroo, Amel, Azimut Yachts, Fountaine Pajot, Trintella and Viking boats located in Panama. To buy boats near you, use the search filter provided.

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Unsurpassed from the Bay to the Gulf to MarineMax Clearwater your ultimate boating destination in the Tampa Bay area. We are proud to offer a wide selection of boats for sale in Clearwater and our dealership sells models from premium brands like Boston Whaler, Sea Ray, Nautique, Aquila Power Catamarans, Azimut,  Galeon Yachts, Bertram Yachts, Wider Yachts, Ocean Alexander, and MJM Yachts. Located on the west shore of Tampa Bay in Clearwater MarineMax Clearwater has been serving the boating community for over 30 years delivering unrivaled personal customer service. Our experienced team is dedicated to guiding you on your boating journey and helping you find the perfect new or used boat that aligns with your boating lifestyle. In addition to our exceptional boat sales, we offer a range of amenities including boat service. 

Whether you're a seasoned boater or just starting out we have the resources and expertise to meet all your boating needs. Visit MarineMax Clearwater and experience the difference firsthand.

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MarineMax Panama City Beach is the leading boat dealer and brand expert serving the Panama City Beach area. Since 2011, we have been committed to delivering unmatched service and sales, catering to all your boating needs. As your trusted boating resource, we proudly offer a range of boats for sale from premium brands such as Azimut, Galeon Yachts, Ocean Alexander, MJM Yachts, Premier, Harris, Aquila, Sea Ray, Boston Whaler, and Grady-White. With this extensive selection of boats and yachts, you are sure to find the right boat to align with your boating lifestyle. Aside from boat sales, we organize an exciting calendar of events  throughout the year, designed to bring boating enthusiasts together. We also offer comprehensive repair options  to keep your boat in pristine condition. Our talented technicians possess the knowledge and premium materials to handle everything from routine maintenance to more in-depth repairs. Join us at MarineMax Panama City Beach to experience our exceptional service and lifestyle.

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Buying a Boat in Panama Could Save You Money

When it’s time to retire, you won’t find Ann Roess sitting on the porch with a pair of knitting needles, or her husband Mike puttering around the yard with pruning shears. Instead, the Minnesota-based couple will be cruising the Caribbean aboard their yacht Escapade.

And by buying their sailboat in Panama , Ann and Mike saved at least 15%. “Boats are marketed in Florida and the Chesapeake, Virginia, area,” says Mike. “When we started to look for a boat, we found that the boats that were in those areas were more expensive. We did look in Fort Lauderdale, but we realized pretty quickly that we could get a better deal if we were willing to go to a foreign country, and that it would be fun.”

They found Escapade—a Hylas 49 sailboat, which sleeps up to eight people—on Yachtworld.com , a website that connects boat sellers and buyers. A Spanish mariner owned the boat and docked it in Panama. The Roesses had a gut feeling that it was the right boat for them, so Mike hopped on a plane.

After landing in Panama City , Mike traveled to Shelter Bay Marina—situated at the Caribbean entrance of the Panama Canal—to meet up with the owner and check out Escapade. Mike was thrilled with the vessel, so, after getting the green light from Ann, he bought it.

The boat-buying process works about the same way as purchasing a house. Before selling a craft, the owner has to get a survey, which is similar to the home inspection required when selling a house. A survey is a critical step, particularly for the buyer, because insurance companies won’t insure a vessel without one.

The paperwork and terms associated with a boat loan are similar to those of a home mortgage, with slight variations from country to country. Typically, when the buyer, seller, and boat all reside in the same country, a buyer will check out the boat before submitting a purchase and sales agreement or handing over a deposit. But Mike’s deal worked a bit differently.

“When you’re buying a boat in a foreign country, it’s best to try to do the deal in one step. So you try to get as many details and photos as possible ahead of time, before you get on a plane,” says Roger Johansson, owner of Free State Yachts in Deale, Maryland. He is the broker who closed the deal for Mike and Ann.

Before Mike left Minnesota, he and Ann submitted their written offer and put down a deposit on the boat. “It makes sense, because then everything is secured before the trip, but the deal is pending,” Johansson says. “Probably 90% of my foreign deals are set up this way.”

Making an offer and forking over a deposit may sound like a risky way to buy a boat you haven’t seen. But it’s a common way to do business, and typically it’s safe when a reputable dealer is working the deal. If you don’t like the way the boat handles, or if something is wrong with the boat, you can either renegotiate or walk away.

The survey turned up a few minor issues that needed correcting before Mike could sign on the dotted line. Nonetheless, the repair service at Shelter Bay fixed the problems quickly. “The seller paid for the work and then we closed on the deal. It was very much like doing a transaction in the U.S.,” says Mike.

People looking for boats often miss the deal of a lifetime because they’re afraid to look beyond their nation’s borders. “I think there is a certain amount of fear out there with regard to buying a boat in a developing country. But don’t be afraid to do it. Some people who were interested were afraid to get on a plane and go to Panama. We weren’t, and therefore we benefited from that.”

Was there a tax savings, too? Well, that’s still up in the air. “When we bring the boat back to the United States—if we leave it for 30 days in Florida—we’re going to have to pay the sales tax. We’re certainly considering leaving it in Panama, and that would save us that money,” Mike says.

And the couple estimates they can save as much as 40% on marina fees, too, if they keep Escapade in Panama rather than docking it in Florida. Mike was impressed with Shelter Bay Marina’s facilities and security. “It’s fenced and protected, so it’s a very safe place to dock a valuable yacht,” Mike says. “The chance of theft is like zero. They have no issues at all, and that’s not true of a lot of marinas in the Caribbean.”

Plus, leaving the boat in Panama offers geographic advantages. “Panama is much closer to the cruising grounds we want to spend most of our time in, the southern Caribbean,” Mike says.

Mike and Ann aren’t waiting for retirement to enjoy their new boat. In fact, Mike recently took Escapade on a Caribbean crossing and the whole family went sailing during spring break.

As for where they’ll call home in the coming years, Ann and Mike are taking their time before making a decision. Regardless of where they land, it’s safe to bet that an ocean breeze, fresh seafood, a little dancing, and exotic drinks adorned with paper umbrellas will play a role in Ann and Mike’s future.

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Imagine dinner on the deck of your private catamaran with the sun setting over the numerous San Blas islands that dot the horizon. Or do you visualize yourself and your family diving the cays and catching your own lobsters, catching that prize marlin off the continental shelf of the Pearl Islands, or letting loose with your friends amongst other yachts in party mode off the shore of Isla Taboga.  

Find yourself on tropically secluded, palm tree filled islands and peaceful coves, off the beaten path and inaccessible by road, unspoiled islands rising out of crystalline waters. Or how about waking up for a tranquil morning swim in clear waters of the Pearls, followed by an afternoon lunching in Contadora?

Whether you crave escape-from-society solitude, cultural trips and tours, thrill packed watersports, or want to host an event / party for family and friends - there is a yacht, an activity, and a destination with your name on it.

With a Panama charter yacht holiday, you’ll experience the best of Panama and its abundance of natural beauty.

With 1,547 miles of coastline on both the Pacific and Caribbean Oceans, Panama was meant to be experienced by sea.

On the Pacific Side Not far off the coast of Panama City, you’ll find treasured Islands, whales, sea turtles, and luxurious beachside communities like Taboga and Playa Blanca. 

Take in the harbor view of Panama's Skyline, which has the third most skyscrapers in the Western Hemisphere (behind New York City and Chicago), which provides a great backdrop for your yacht adventure any time of day, but is most beautiful during a sunset dinner cruise.  

Or discover the Pearl Islands where Jeff Probst extinguished the torches of many hopeful survivors before exclaiming, "You've been voted off the island!"

On the Caribbean Side Whether you take a one-of-a-kind ride through the Panama Canal to get to the Caribbean, or launch your yacht experience directly from the city of Colon, the Caribbean side with its clear turquoise waters, snorkel friendly wildlife, and the uniquely beautiful San Blas islands is a destination not to be missed. There is no shortage of great destinations during a multi-day cruise in this equatorial paradise.

YACHTS SPOTLIGHT  

44' lagoon, 60' searenity, 80' pendennis.

Travel the way you want Want to take in the views in style with luxury cruisers that have all the amenities like open bar, freshly prepared food, personal valet, and ample guest quarters for private moments?

Or do you want to soak up the sun and ride the wind on a 57' Catamaran?

Maybe battle a swordfish on a sport fishing boat all geared up for deep sea fishing?

Depending on your budget and the number of guests, we'll help you get the right-sized vessel for the excursion you want!

Just want to Party  When it's time to party, no one does it better!  Our Yacht Parties feature an open bar, a fully equipped sound system, transportation to and from the marina, and of course, a visit to Isla Taboga!

A typical itinerary includes 4-8 hours on the water, pitching anchor at Isla Taboga close to other like-minded partying vessels.  Then you can stay on board and party, or jump off the boat and soak up the sun.  Or go ashore and explore the town's great local restaurants and large public beach. What happens at sea stays at sea, so feel free to get wild and enjoy the High Life!   When chartering yachts in Panama, people choose YC Yachts for our transparency in providing an experience that's accurate to the commitments made during your booking.  We pride ourselves on providing amazing service with no headaches at affordable market rates.  So contact us today to set up your perfect Panamanian Yacht Charter!

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The unspoken rules about how to behave on a superyacht

• The superyachting world is very small, with only 5,800 yachts longer than 30 meters at sea.
• That insularity has bred a specific etiquette, which is often hard for outsiders to know about.
• These are the de facto rules of the most expensive billionaire toys, superyachts .

For the owners of superyachts , privacy is often the most valuable thing money can buy. It's one reason centimillionaires and billionaires pay eight or nine figures for a palace at sea, far from the prying eyes of land dwellers.

Even the most gossipy crew members should stay tight-lipped about the name of a former owner or charter guest, and many brokers shy away from answering benign questions.

That means that, aside from basic safety guidelines, most of the rules of superyachting are unwritten. The very few who need to know them — there are only about 5,800 yachts longer than 30 meters at sea, according to SuperYacht Times — already know them.

But if you do happen to be a lucky guest at a party on a billionaire's $500 million ship or find yourself included in a $1 million-a-week vacation, there are a few things you need to know.

After four days of touring superyachts that sell for as much as $75 million and chatting with the people who buy, sell, and work on them at the Palm Beach International Boat Show , Business Insider gleaned a few key edicts. Given the discreet nature of the industry, almost all the people we spoke with requested anonymity to protect their working relationships, but here's what they had to say.

Take off your shoes

While it's a basic rule for anyone in boating, it may come as a surprise to an outsider that no matter how rich you are or how expensive your heels are, in the vast majority of cases, you can't wear shoes on board.

It's partly for safety — you don't want anyone slipping on a wet deck — but partly to keep the yacht clean. So expect to see barefoot billionaires, and if you forgot to get a pedicure, bring a set of special boat shoes.

Don't make any assumptions about money — but know the signs

In the superyacht world, it's safe to assume almost everyone you meet is very, very rich, and many brokers and builders say you can't judge a book by its cover when it comes to prospective clients.

"It has nothing to do with how they're dressed," one broker told BI. "It's the biggest mistake you can make because a complete slobby-looking guy or couple could be a multibillionaire."

There are, however, a few clues. Watches are one; new footwear is another.

"Rich people always have new shoes," a superyacht expert said. But because of the shoe rule mentioned above, this tip probably applies only when they're on land.

Book your massage early

Wellness areas, including spa rooms with a massage bed or two and a professional-grade facial machine, are becoming must-haves on superyachts . Most have a customized spa menu and a crew member who doubles as a trained masseuse or beautician — and they're usually in high demand.

One captain said he'd implemented a booking system to ensure people weren't fighting for the same spots. A broker said sometimes masseuses would be so busy they wouldn't leave the small spa cabin for hours on end.

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So if you want to make the most of your relaxing time on board, reserve your pampering slot as soon as you get your welcome cocktail.

Pirates are more real than you'd think, and many superyachts have hidden safe rooms

While you might dress up as a fake pirate for an onboard theme party, there are very real ones — and other dangers — on the high seas.

In certain areas, including parts of the Indian Ocean and the Gulf of Aden, pirates are a cause of concern . In the Red Sea, owners are concerned about the Houthis .

Superyachts can come equipped with sonic weaponry, lockdown systems, and anti-drone protection. Builders are even designing safe rooms — which are apparently just as plush as the rest of the ship.

The longer the boat, the closer to $1 billion

While you can't judge a buyer based on appearances, you can judge them on the length of their boat.

One rule of thumb: If someone has a brand-new 50-meter vessel, chances are they have $1 billion to their name. If it's over 100 meters, expect the owner to have at least $2 billion. And for a boat bigger than that — like Jeff Bezos' 127-meter megayacht Koru — it takes many, many billions.

Money can't buy you everything

The world's biggest, most expensive yachts are custom-built by shipyards that produce only a handful of boats a year.

But no matter how many tens of millions of dollars clients are spending, there are things to which builders will refuse to say yes.

"In the end, the boat has our name," an executive from one of the world's biggest shipyards told BI.

They recalled a client who requested a yellow hull to match his Lamborghini . The shipyard declined, steering the client in another direction.

"If I don't like it, I don't build it. I finalize two or three contracts a year," another builder said. "If somebody can say your vessel is ugly, my reputation is bad."

Yacht crews are trained to make the impossible possible. A guest requests fresh caviar flown into the middle of the Caribbean? No problem. Fresh flowers every day while at sea? It'll cost you, but it can be done.

But they can't time travel, and captains and crew members say the thing that causes the most friction is when a client or owner wants to go from point A to point B — right now.

"The hardest request is when they want the boat in a place — yesterday," one captain said.

The best person to know? A friend with a superyacht

Superyachts are expensive to build and expensive to maintain . According to the industry standard, owning a superyacht will cost 10% of its new-build price annually. For a $100 million yacht, that's at least $10 million yearly going to crew, regular maintenance, insurance, fuel, and dockage.

Chartering, too, is costly . Beyond the list price, which can be hundreds of thousands a week, guests must pay for provisions, which are pegged at 35% of the charter fee, and are expected to tip between 10% and 20%.

So the most important unspoken rule of superyachting is actually that the only thing better than owning a superyacht is knowing someone else who does — and invites you along, of course.

Watch: Why it costs $1 million a day to run one of the world's biggest cruise ships

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Largest cocaine shipment of the year seized in Colombian Caribbean after high-speed boat chase

By Stephen Smith

Updated on: March 27, 2024 / 7:27 AM EDT / CBS News

Authorities have announced the largest cocaine shipment  seizure of the year in the Caribbean Sea off Colombia after military ships and planes chased down a speedboat holding almost four tons of the drug.

In a joint operation between the Colombian Navy, the Colombian Air Force and the Joint Interagency Task Force of the United States Southern Command, authorities seized the cocaine — said to be worth more than $113 million — from the vessel near San Andrés Isla,  according to  the Colombian Navy. The navy released dramatic aerial video of the chase, during which it said the crew of the suspicious vessel "began evasive actions, throwing packages into the water."

After a chase that spanned several miles, the boat — which was covering its cargo in a blue tarp — was finally intercepted, the officials said. Three Colombians, one Honduran and one Venezuelan who had been on board the speedboat were detained, and subsequent testing confirmed that the boat had been carrying 3,355 kilograms of cocaine weighing, or about 3.7 tons of the drug.

🚨 En una operación junto a la @FuerzaAereaCol y JIATFS de EEUU 🇺🇲 logramos incautar más de 3.3 toneladas de clorhidrato de cocaína que eran transportadas en una embarcación tipo Go fast en #SanAndrés Isla. 🚨 https://t.co/sOjRPdHVAF ⬅️ #ContundenciaOperacional pic.twitter.com/UoSdcSDdMH — Armada de Colombia (@ArmadaColombia) March 26, 2024

Navy video showed officers offloading and arranging hundreds of packages of the seized cocaine, which officials said amounted to more than eight million doses that would "not reach the streets of different countries, thus avoiding the impact on public health."

The drugs, boat and five suspects were turned over to the Attorney General's Office, the navy said.

The Colombia-U.S. operation in the Caribbean Sea came just days after officials announced that a British warship and an American patrol aircraft had  chased down a speedboat as its crew tried to flee and dump another cargo of drugs into the water near the U.S. Virgin Islands.  About three tons of cocaine and other drugs were seized, the U.K.'s Ministry of Defense said.

Drug busts off the shores of Colombia are also common.

Just last month, authorities on a search-and-rescue mission for two missing fishermen off Colombia's Pacific coast instead found a semi-submersible vessel  loaded with more than four tons of cocaine, officials said. The so-called  "narco sub"  was intercepted during a joint operation by the Colombian and Ecuadorian navies and the Colombian Air Force, the Colombian Navy said.

Colombia  produces  about 60% of the cocaine found in the world. 

Stephen Smith is a senior editor for CBSNews.com.

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Chevy is offering Bolt EV owners up to $3,000 to buy the new all-electric Equinox

If you own (or lease) a 2017 Chevy Bolt EV model or newer, you could be eligible for up to $3,000 off the new fully electric Equinox. Chevy is offering big incentives as it looks to ramp up EV sales in 2024.

Chevy Bolt EV owners eligible to save on the Equinox EV

Chevy Bolt EV owners looking to upgrade can now score up to $3,000 to buy the all-new Equinox EV.

According to a new memo sent to dealers ( via CarsDirect ), if you own or lease a 2017 Chevy Bolt EV or EUV model, you could be part of its new incentive offer.

Through April 30, Chevy is offering up to a $3,000 discount if you lease or finance at a special rate through GM Finance. Although loyalty discounts are common, this is a significantly higher offer than most.

If you choose to buy the new Equinox EV but don’t finance it, the deal takes $2,500 off the starting price.

Chevy already expects the Equinox EV to be one of the most affordable (if not the most) in its class. The electric SUV starts at just $34,995 with up to 319 miles range. That includes the $1,395 destination fee. With $3,000 off, the Chevy Equinox EV starting price could fall to as low as $31,995.

However, the automaker is currently only taking orders for the 2LT and 3LT trims. The entry-level 1LT is expected to roll out later this year.

The deal does not extend to the new Blazer EV, which just came off a stop-sale with lower prices starting just over $50,000.

For now, Chevy’s cheapest Equinox starts at $43,295. The Chevy Blazer EV starts at $50,195 after the recent $6,520 price cut.

Both the Chevy Equinox and Blazer EVs are eligible for the full $7,500 tax credit, promoting even lower prices. With the tax credit, the Equinox EV (2LT) starts at as low as $35,795. Chevy Blazer EV prices start at $42,695 with the tax credit included.

Top comment by Jon

$3000 to trade in a paid off or almost paid off bolt, so a $20/month discount on a brand new loan instead of no payments. That on top of trading a familiar vehicle with an unproven new model? Nope for me.

Chevy announced a more affordable Blazer EV LT FWD will debut later this year with prices starting under $50,000 (not including the tax credit). The Chevy Blazer EV 2LT AWD features up to 279 miles range.

In comparison, Tesla’s Model Y starts at $44,990 with up to 260 miles range. With the tax credit, the starting price is as low as $37,490.

Meanwhile, Chevy is retiring its current Bolt EV as it prepares to launch a new Ultium based model next year. The Ultium Bolt EV will feature LFP batteries to drive costs down. With some models left, Bolt EVs are selling for under $20,000 with the tax credit included.

Are you ready to drive off in your new all electric Chevy at some of the lowest prices? We can help you get started shopping today. You can use our links below to find deals on Chevy’s EVs at a dealer near you.

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Peter Johnson is covering the auto industry’s step-by-step transformation to electric vehicles. He is an experienced investor, financial writer, and EV enthusiast. His enthusiasm for electric vehicles, primarily Tesla, is a significant reason he pursued a career in investments. If he isn’t telling you about his latest 10K findings, you can find him enjoying the outdoors or exercising

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