ONEtoolSM ENABLES ROUND-THE-WORLD YACHT TRANSACTIONS FOR FARR YACHT SALES
A former Quantum sailmaker, Bill O’Malley is the manager of Annapolis-based Farr Yacht Sales (FYS), an international yacht brokerage firm for grand-prix, racing and performance cruising sailboats.
O’Malley said the ONEtool software, provided by Secured Marine Trust (SMT) in New Haven, Conn., enables his FYS staff to coordinate brokerage transactions more effectively than ever before; brokers can quickly access the history of each boat, including past sailing performance, construction methods and even racing prospects. ONEtool also eases the regulatory process required with all boat purchases.
“It’s easy to get lost in the details of a purchase,” said O’Malley. “ONEtool tells me where each transaction is in the timeline. We can see, for example, the status of Coast Guard forms, bills of sale, surveys, closing forms, and agreements of acceptance. ONEtool helps us manage the steps with all the parties involved.”
Many of the boats brokered by FYS are designed by its 25-year-old parent company, Farr Yacht Design, the largest racing sailboat design firm in the world. FYS works with clients wishing to sell or purchase Farr designed boats, as well as other boats.
FYS shares office space with its parent company, and benefits from the shared knowledge and support of a team of 20 professionals. O’Malley relies on the ease and technology of ONEtool, which helps the company access those valued resources from anywhere in the world. “Someone on the Farr team is usually out traveling to a regatta, visiting a builder, or on a sea trial. ONEtool allows us harness the same important information, whether we’re in the office or out in the field,” said O’Malley.
