What To Know When Buying Your First Yacht

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It’s not a secret for anyone that a yacht is a rather expensive “toy”, so one should seriously approach its acquisition. If you do decide to buy, our advice will come in handy.

What To Know When Buying Your First Yacht

Here are some of the things to know when buying your first yacht:

1. Where to Find The Best Classifieds

In recent years, there has been a significant increase in the number of websites offering yacht sales from individuals and agencies. You need to be careful if you go to portals where posting ads is free for the seller, as you can easily run into deception. It is best to avoid general websites that sell different types of used objects. After all, a yacht is not something that you can buy without looking.

2. The Cost Of The Yacht

How to find a fair price? It should be kept in mind that after the first year the yacht loses in price by 20-30%. In the first five years, it can deteriorate by about 5-7% per year. In the next 5-10 years, the cost decreases not so noticeably. However, after the first decade, the vessel can already cost from 40 to 60% of its initial price. After 10 years, a new milestone is crossed: if the yacht is well watched, it is unlikely to fall in price any more. It should also be kept in mind that the owner will spend 10% of the value of the vessel on related costs: washing the hull, changing filters and minor repairs.

3. Factors Influencing The Price

There are factors that negatively affect the price of the vessel. If the shipyard is little known or the production was limited, the yacht will have a lower price. Also, the sailboat will cost less if rented out. If the yacht has had few owners, and the components were periodically replaced with the registration of the necessary papers, then the vessel will depreciate quite a bit.

4. Caution: Hidden Defects!

When a latent defect is discovered, the seller is responsible. If a specialist was hired to carry out the transaction, the buyer must prove that during the inspection of the yacht the expert was interrupted and could not detect possible issues in the vessel. If the yacht was purchased through an intermediary (agency or shipyard), then to resolve the issue with a hidden defect, you need to contact him.

5. Documents

To purchase a yacht, the following documents are required: logbook, certificate of the ship’s fitness for sailing, certificate of technical inspection of the vessel, certificate of quality of radioelectric equipment installed on ship.

6. Test Drive At Sea

Are you sure this yacht is exactly what you need? It is best to be sure of this completely before deciding on a purchase. If the boat is in dry dock, the cost of launching it should be discussed with the seller. It is impossible to be sure that the yacht suits you completely if you do not sail on it at least a little.

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