JUPITER — One of the largest used boat buyers in the nation, a business whose founder got his start as a 10-year-old assisting his dad in finding and buying used boats, is expanding its Jupiter footprint.
Off the Hook Yachts runs like CarMax — a first-of-its-kind operation in the yacht business, its founder likes to boast. Off the Hook buys used boats — giving sellers cash up front — then fixes up the vessels and lists them online to sell.
The process is more streamlined than traditional yacht sales, where brokers are involved in buying and selling. Off the Hook Yachts’ CEO Brian John says the beauty of the business is that it takes out the middle man, but traditionalists can still get connected with brokers if they want to go that route.
“New boat brands have struggled over the last couple of years with interest rates and things like that. They’ve declined quite a bit, whereas we’ve been excelling because we focus on used boats,” said John, 57, who lives in Jupiter. “That’s really the key.”
The company is based in Wilmington, North Carolina, but it has offices along the East Coast and sells most of its boats — which range from small boats to mega-yachts — out of Florida. Its Florida offices are in Jupiter, Miami, Tampa and Pensacola.
The company’s first Jupiter office opened in May 2024. Now the business is looking to go public this fall and plans to open a second Jupiter office on Alternate A1A in January 2026. Off the Hook’s team said they are growing their Jupiter presence because it is where they make the most luxury sales. They are set to open an office on Las Olas Boulevard in Fort Lauderdale in October.
Off the Hook Yachts’ founder started selling boats in high school
The company’s founder, 37-year-old Jason Ruegg, says he has long been obsessed with boats. He grew up in Annapolis, Maryland, and was constantly on the water fishing, wakeboarding and crabbing.
He got his first boat, an inflatable, at 5 years old. That’s when he started watching his dad search for boats online and in magazines. Ruegg eventually helped his dad find good deals. By the time Ruegg turned 10, he tried to help people sell their boats online, but they didn’t take him seriously when they heard his young voice over the phone.
Ruegg didn’t give up. In high school, he started buying boats himself and selling them for a profit.
“By my senior year of college, I did like 30 boats a year,” said Ruegg, who lives in Wilmington. “My mom was pressuring me to be an accountant, and I was like, ‘I’m going to make a lot more money doing this.’ ”
He trained his college roommates how to find and sell boats, too. He later hired them to work at his business in 2012.
“It felt incredible,” recalled Ruegg, whose company now turns around about 500 boats a year and reported revenues of $99 million last year. “Every time we had a really good flip on a boat, it was exciting. … I was just so hooked on it. I felt like I was treasure hunting.”
Maya Washburn covers northern Palm Beach County for The Palm Beach Post, part of the USA TODAY Florida-Network. Reach her at mwashburn@pbpost.com. Support local journalism: Subscribe today.
This article originally appeared on Palm Beach Post: CarMax for yachts? Hot operator in luxury yacht sales says Jupiter is where to be
Reporting by Maya Washburn, Palm Beach Post / Palm Beach Post
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