YATCO’s broker of the month series examines the unique life experiences that brought these brokers into the world of yachting, who influenced them, and what they seek to change in the industry.
Fernando Aragon is a Broker at Panama Yacht Group.
Featuring Fernando Aragon, Broker of Panama Yacht Group
How did you get your start in yachting?
I started working at the law firm, Morgan & Morgan, which is one of the leading law firms in the maritime world; working in the merchant marine department which is competent on flag registration for ships and other vessels around the world. Then I started to focus on flagging yachts and superyachts with the law firm, making surveys on the yachts and that’s when I realized how much I liked the industry. I was referred by one of my current business associates to a client and owner of a superyacht, making them my first official client and providing all the services they needed.
Is there anyone in particular who influences you – someone in the industry that you look up to, and why?
I admire Robert Allen Law who are very well-known attorneys in the yachting industry right now. This law firm is recognized all over the world for their prestigious services in law which are an example of how attorneys should be in this industry.
Also, Denison Yachting on the brokerage side is a company I look up to due to their potential boat show presence, marketing strategies and worldwide growth process.
What do you enjoy most about the yachting industry and what do you wish you could change?
One thing I enjoy about this industry is the boat shows. I enjoy networking with all kinds of colleagues and sharing different views of the industry from all parts of the world and being united by the passion of yachts. This passion is what brings us together at the yacht shows and having the experience to travel to another country just to enjoy the yacht industry and its benefits with one common goal – continued growth and success.
I wish there would be a change to promoting this industry in countries where there is a great potential to expand and for global brands to invest in these countries so the industry can grow more.
Do you have any advice for someone wishing to join the yachting industry?
I would like to advise all the people who want to join this industry to get role models so they can understand the market and the yacht industry more.
Also work to get as much experience as possible so they can understand the business more.
What are some of the challenges you come across at work, and how do you approach them?
Some of the challenges I come across with work is convincing the client the value of my services as a lawyer and a broker. I try to highlight my negotiation skills and show the client the difference between me and another attorney or broker.
Tell us about your greatest accomplishment.
My greatest accomplishment was recently closing the sale of a 2012 54ft Bertram over $1.2 million where I had the opportunity to represent both the buyer and the seller during the transaction.
What is your favorite yacht currently for sale and why?
My favorite yacht currently for sale and listed by my firm is called PRIVE, a 2017 66ft Azimut listed for $1.9 million.