She Paid $2M+ for a Kadey Krogen. Then They Went Bankrupt.

On this episode of the Full Displacement podcast, Elizabeth walks Maryline Bossar and Amanda Haley through the new boat build, the warning signs, and what anyone buying a new build can learn from her experience.

Elizabeth and Vince chose the Krogen 50 Open for its full displacement hull, its open helm layout, and a brand with 49 years of reputation behind it. Over eight payments, the red flags added up: requests to pay ahead of schedule, a comment at the boat show that the order book ended in 2027, no plan when the 2025 tariffs hit, and silence after the final payment. We cover why a completed boat can put an owner in a harder spot in a Chapter 7 than an unfinished one, the difference between the Kadey Krogen brand and Asia Harbor Yacht Builders, the commissioning and warranty gaps waiting on the other side, and why paying cash left them more exposed than a construction loan with staged draws would have.

Elizabeth is still working to get her boat released. If you have been through a builder bankruptcy or have advice that could help, contact us through the link below and we will put you in touch with her.

Buying new? Due diligence will not remove every risk, but it helps. Build your team early: legal counsel, and a buyer's broker who represents you, even when the builder will not pay for that representation.

Resources & Contact

⚓️ Talk to Current Yachts about buyer representation: https://currentyachts.com/buy
💬 Share advice or connect with Elizabeth, contact Current Yachts: https://currentyachts.com/contact
🎧 AI Captain's Log podcast with Elizabeth Fortunato: https://aiboatcaptain.substack.com/
📆 Find Current Yachts at both shows. Tell us you're coming and book time with our team: https://youtube.currentyachts.com/events
👓 Read the news article from Trade Only Today: https://tradeonlytoday.com/industry-news/bankruptcy-report-they-were-stringing-us-along/

Who is Current Yachts?

We are a full service yacht brokerage company located in Fort Lauderdale, Florida, and Annapolis, Maryland. Our licensed and bonded professional brokers assist yacht sellers and buyers every step of the way.
🎥 Our podcast Full Displacement helps educate yacht sellers and buyers, and shares what is happening in the yacht brokerage market: https://www.youtube.com/playlist?list=PLXcE3-wOQgN8C7VGybRHBjzf9uZsr6tPs
We are revolutionizing yacht sales by offering a transparent, service-based pricing model that puts yacht buyers and sellers first. How?

1️⃣ Our flat-rate selling expense replaces inflated yacht brokerage commissions. And the buyer-side commission (called co-brokerage) only gets paid if a co-broker is present.
2️⃣ Our buyer-broker representation agreement means our yacht buyers receive the unbiased guidance they need to protect their interests.
3️⃣ Our modern platform streamlines the listing intake process including an listing agreement you can generate and signed digitally within minutes. Our platform ensures real-time communication with a dedicated team and provides analytics for all parties.

🏁 The result? More transparent yacht sales, and faster, more efficient transactions.
⚓️ Discover the Current Yachts difference at https://currentyachts.com/

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