Skip to main content

In the news

A shortage of time more than money

A quarter of affluent Americans already own a boat or are planning to buy one. That’s according to Key Recreation Lending’s second annual survey of Americans with assets of $500,000 or more and/or personal annual income of $150,000 or more.

The survey also found that nearly half (48 percent) of those polled say they have no interest in boating. Other than lack of interest, 10 percent cited a shortage of time as the leading reason for not taking up the sport. Other hurdles include overall costs, access to marinas, prefer someone else’s boat, and operating costs too high.

The survey showed that the more money the respondents earn, the more likely they are to choose a motoryacht as their dream boat. When asked if money were no object, 30 percent of respondents said they would choose a motoryacht or other cabin boat — down from 45 percent in the 2004 survey. A “surprising” 25 percent selected a sailboat as the boat of choice, a 5-percent increase. And 17 percent chose runabouts and ski boats, while 9 percent selected fishing boats.

The survey was conducted in conjunction with McDonald Financial Group Affluent Consumer Confidence Index, a quarterly survey that gauges economic confidence, spending and investing sentiment of affluent Americans.

— JoAnn W. Goddard


Classic Yacht Symposium

returns this spring

The second Classic Yacht Symposium is scheduled for March 31 to April 2 at the Herreshoff Marine Museum in Bristol, R.I. Topics to be covered include the restoration of several large yachts, among them the 126-foot 1901 Cangarda — the last of the American-built Edwardian-era steam yachts — and the 106-foot 1903 houseboat La Duchesse, which has plied the waters of the St. Lawrence River for more than 100 years. Also on the agenda is the presentation of a paper detailing the approaches to maintaining the Dark Harbor 20 one-design racing fleet of Ilesboro, Maine.

The symposium’s three-day schedule includes a dinner featuring noted yachtsman and commentator Gary Jobson. On the final day, the recently restored 1887 Nathanael G. Herreshoff cat yawl Clara will be displayed, and participants will have the opportunity to speak with her restorers.

For more information about the symposium or to register online visit or contact Teri Souto at .


Do I hear

$1.75 million?

Havengore, the 87-foot hydrographic survey boat that carried the coffin of Winston Churchill, was withdrawn from a London auction when bidding failed to meet expectations.

“This is perhaps the ultimate piece of Churchilliana for any collector,” Sotheby’s specialist Peter Selley said before the Dec. 15 auction.

The famed auction house, citing the newly restored vessel’s estimated value at $1.3 million, reportedly expected a winning bid topping $1.75 million. The vessel was withdrawn when bidding petered out before reaching $1.4 million.

Havengore was commissioned in 1954 by the Port of London Authority and was built at Toughs Boatyard in Teddington, England. The 87-foot wooden survey boat, powered by twin Gardner diesels, was the PLA’s longest-serving vessel, decommissioned in 1995. Havengore then underwent an eight-year restoration that included refastening and recaulking the teak decks, rewiring and installing new generators.

Churchill, England’s prime minister during World War II, died Jan. 24, 1965, after suffering a series of strokes. After a ceremony at St. Paul’s Cathedral in London, Churchill’s body was transported to Tower Hill, where his coffin was placed on Havengore’s aft deck and taken down the ThamesRiver to Waterloo Station. From there, the coffin was put on a train that took Churchill to his birthplace in Oxfordshire.


Coast Guard Foundation

gets presidential boost

The 55th Presidential Inaugural Committee contributed $125,000 to the Coast Guard Foundation as part of its distribution of the private funds raised to underwrite the activities associated with the 2005 inauguration of George W. Bush and Dick Cheney.

“We selected recipients that represent our theme: ‘Celebrating Freedom, Honoring Service,’ ” says Jeanne L. Phillips, chairman of the committee.

Other organizations receiving distributions include the Navy-Marine Corps Relief, Army Emergency Relief and the Air Force Aid Society.

“This gift comes at a time when the Coast Guard needs our support more than ever,” says James C. Link, president of the Coast Guard Foundation.

In addition to supporting academic and athletic excellence at the Coast Guard Academy, the foundation purchases non-military equipment to enhance the performance of service members. It also builds training and education facilities and provides scholarships to the children of enlisted personnel.


launches sailboat site, a division of Trader Electronic Media and the online portal to Boat Trader magazine, recently launched, a new classified site for sailboat enthusiasts. The site allows both dealers and customers to submit classified ads for new and used sailboats online, and is free for potential buyers to browse. and are owned by Trader Publishing, parent company of Soundings.