Buying a yacht in Florida: why the market works as it does
South Florida is a dense, working market. Miami, Fort Lauderdale and Palm Beach sit within easy driving distance of one another, and between them hold one of the largest concentrations of yachts for sale anywhere, from American sportfishing yachts to Italian and Dutch motor yachts that winter here before or after the Mediterranean.
The calendar follows the winter season. The Fort Lauderdale International Boat Show opens it in late October or early November, Miami's show follows in February and Palm Beach's in March. A buyer who arrives with a clear brief can see several comparable yachts in a few days, which is the real advantage of buying here. The Fort Lauderdale and Miami pages describe those markets in more detail.
Licensed brokers and deposits held in escrow
Florida is one of the few states with a dedicated law for yacht brokers. Under Chapter 326 of the Florida Statutes, the Yacht and Ship Brokers' Act, brokers and salespersons who sell used yachts over 32 feet in length (and under 300 gross tons) must be licensed by the state's Department of Business and Professional Regulation.
The same law requires funds received in a sale, including the buyer's deposit, to be held in an escrow trust account at a Florida financial institution. In practice the buyer commonly places a deposit of around 10% under a written purchase agreement, conditional on survey and sea trial. It is reasonable to ask any Florida broker for their license details and how the escrow will be held.
Florida sales and use tax on yachts
Tax is where Florida differs most from other markets, and where early advice matters. What follows is general information, not tax or legal advice; the rules are detailed and change from time to time, so a Florida tax adviser or maritime lawyer should review any specific purchase.
According to the Florida Department of Revenue, boats are subject to the state's 6% sales and use tax plus any county discretionary surtax, and the surtax applies only to the first $5,000 of the price. The total tax on the sale of a single boat is capped at $18,000, a figure that as of 2026 has been in place for many years. For a large yacht this makes the effective rate modest.
Use tax can also apply to a yacht bought elsewhere and brought into Florida, and the Department treats a boat brought in within six months of purchase as a point of scrutiny. Where a comparable tax has lawfully been paid to another state, a credit is generally available against the Florida tax.
Nonresident buyers, delivery and closing location
Because tax turns on where and when delivery takes place, the closing location is a real decision rather than a formality. Some buyers take delivery outside Florida, or close with the yacht already on its way to its next cruising ground, with the paperwork and timing set by their advisers. The details must be followed precisely for any exemption to hold.
One common route is Florida's exemption for nonresident purchasers who remove the yacht from the state, supported by a signed affidavit at the time of sale. The Department of Revenue's published guidance distinguishes by size:
- Boats under 5 net tons generally must leave Florida within 10 days of purchase, or within 20 days of completing repairs at a registered repair facility.
- Boats of 5 net tons or more may obtain Department decals allowing them to remain in Florida waters for up to 90 days after purchase, which can be extended to 180 days with an extension decal.
- Repairs and refits. A boat entering Florida for work at a registered repair facility may generally remain tax exempt until that work is completed.
Flag, survey and hurricane season
Flag deserves early attention. A US-documented yacht, a foreign-flagged yacht and a foreign-built yacht intended for use in American waters raise different registration and customs questions. Daniel raises them at the offer stage so they can be settled with specialists before money moves.
South Florida's yards make surveys practical: a haul-out, an independent hull and machinery survey and a sea trial offshore can usually be arranged within days in the winter season. Engine and generator surveys by specialists are worth commissioning for larger yachts.
Summer adds one more consideration. The Atlantic hurricane season runs from June through November, and insurers commonly set conditions on where a yacht spends it. A buyer closing in spring should arrange cover, and a summer plan, before completion rather than after.
A private conversation before you buy
Daniel is based in Miami with Reel Deal Yachts and works between Florida, New York and Europe. If you are considering buying a yacht in Florida, a first conversation about your brief, the yachts currently available and the questions to put to your advisers carries no obligation. The general guide to buying a yacht covers the full sequence.