Yahoo Finance This superyacht CEO didn't sell Jeff Bezos a $500M boat but confirms demand is 'absolutely incredible'
MarineMax CEO Brett McGill is no stranger to selling superyachts that cost anywhere from $200,000 to $100 million to the ultra wealthy. Actually, it's his job to do so.
And based on years of experience, McGill understands why Amazon CEO Jeff Bezos may be building a monster of a floating luxury vessel.
"First thing I thought is why didn't my team get a hold of him and sell him a boat," joked McGill on Yahoo Finance Live when asked about his thoughts on the boat-buying Bezos. "Beyond that, I think it's relative for everybody. For some a 20-foot boat with three family members out anchored up on an island creating a memory that lasts forever to a yacht like that [Bezos'] where you can have several families and fishing gear, diving and snorkeling and tour the world — to each his own."
It may be relative for everybody, but when it comes to the world's richest man Bezos — make no mistake he is in rarefied air as it pertains to purchasing a boat.
Bezos is buying a 417-foot superyacht that boasts its own support yacht and helipad, Bloomberg reported earlier this month. The reported cost of the luxury sailing experience: $500 million. For some perspective here, a 25-foot 2022 Boston Whaler 250 Dauntless — no slouch of a ride for weekend boating fans — could set one back a little under $200,000.
As for MarineMax, McGill said business is very good for the second straight summer season as people look to escape the realities of the pandemic in all forms. For the six-months ended March 31, MarineMax saw sales surge 52% to $934.6 million. Same-store sales rose an impressive 33%. Net earnings increased more than fourfold.
MarineMax (HZO) shares are up nearly 50% this year, per Yahoo Finance Plus data.
"The demand is absolutely incredible, which gives us one of the best backlogs we have ever seen in the retail environment," McGill said.
That backlog doesn't include a $500 million superyacht for Bezos. But judging by MarineMax's stock price and financials, it doesn't need Bezos' oversized order.
Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.
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