14 School St.
P.O. Box 505
East Boothbay, Maine
USA 04544
V: 207-633-4194
F: 207-633-4668
info@hodgdonyachts.com

News
Hodgdon Woos Yachting Crowd at Monaco Show
September, 2005
East Boothbay, Maine - Of the many reasons to travel across the Atlantic to the Monaco Yacht Show in Monte Carlo, to see and be seen are right at the top. And for builders of superyachts, it's the premier venue for demonstrating to the luxury craft buyer - and the yachtbuilding industry - that their yard is a world-class player.

"What we get out of Monaco is continuing recognition in the European market," says Ted Smith, Hodgdon Yachts' custom yacht representative. "Monaco gives us a chance to show the quality of yacht we build, and underscore our reputation for craftsmanship and innovation."

The Monaco event, held this year from September 21 to 24, is currently the only show in the world devoted solely to superyachts. In its 14-year history, it has become a significant market for yacht builders, designers, brokers, outfitters and equipment manufacturers. But the most important aspect of the Monaco show, according to Smith, is the opportunity to begin courting key prospects: individuals having both the desire for superyachts and the net worth it takes to buy them. It's a process Smith dubs "the long dance."

"Building and maintaining a potential customer's interest in a new yacht requires a long-term commitment to relationship building," says Smith. That commitment, according to Smith, begins with getting to know the client and establishing a sense of trust.

"One client might dream of refitting an old icebreaker and turning it into a yacht; another might want to start from scratch and build something tailored to his specific tastes," Smith explains. "Each vessel is a personal statement. And to build it, a buyer looks for a company he can trust." Hodgdon enjoys a reputation as that kind of company. The 189-year-old builder is noted worldwide for producing its Modern Classics - vessels that combine the integrity and beauty of traditional craft with the advantages of state-of-the-art materials and construction. The company's 124-foot sloop Antonisa was named Best Sailing Yacht in its class at Monaco in 1999. And while most superyacht owners keep their boats for only a few years, those who buy Hodgdon's vessels regard them as heirlooms. In fact, every vessel built by the yard over the past quarter-century is still in the hands of its original owner.

Smith says the challenge at shows like Monaco is to engage people's interest enough to come to the Hodgdon boatyard and experience the company's craftsmanship firsthand. More and more potential buyers are making the trip. Yet Hodgdon isn't simply sitting back and waiting for the doorbell to ring; company reps will seek further close encounters of the profitable kind later this month when they attend the Fort Lauderdale International Boat Show in Florida. Smith is optimistic that Fort Lauderdale will continue the progress made in Monaco. "Hodgdon stands as one of the few builders customers can count on to deliver their dream yacht," he observes. "And in the yacht business, that's nine-tenths of the battle."