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Guide To Yacht Purchase

What You Need to Know About Buying a Yacht

Guide To Yacht Purchase

Take The Plunge

You’ve decided to embark on the rewarding journey of yacht ownership, but once you decide to buy a yacht, where do you start? Here’s a quick guide to what to look out for when you buy a yacht.

Guide To Yacht Purchase

The First Step

Consider Charter

If you don’t already know the type of yacht you’re looking for and your cruising plans then chartering a luxury superyacht can be a good way to find out what suits you. Staying on board a yacht for a week can give you a more practical insight on what features are important to you than a simple viewing can. Consider where you’ll want to cruise and how you want to use your new yacht: for family escapes, for entertaining or racing. Your Y.CO broker will use years of experience and expert knowledge of the market to suggest a list of potential yachts.

The First Step

Appoint a Professional

The yacht market is ever growing and complex. Announced prices can be far from reality, and choosing a broker who will listen to your needs, defend your interests, and who you feel comfortable talking to is essential. The right yacht sales broker will provide you with all the best options and give you insider’s access to the market, letting you know what questions to ask while sparing you time and effort of looking at unsuitable options. Having a trustworthy professional to advise you is the key to making yacht selection and ownership swift and fun.

Guide To Yacht Purchase

How To Choose

Listen to the Market, Attend Yacht Shows

Whether you’re thinking of buying a sailing yacht or motor yacht, attending one of the big sales shows, such as Monaco Yacht Show, Fort Lauderdale International Boat Show, Miami Yacht & Brokerage Show or the Barcelona Superyacht Show and touring the yachts on display can give you a good idea of the size and style that appeals. This is a beach house, not a penthouse, and its all about on-the-water lifestyle, so it’s best to aim for something different from your home.

How To Choose

Think Long-Term

Don’t forget to consider the long-term implications of yacht ownership. Do you want to be able to charter in the future, or might you be looking to sell it on in a few years? Your Y.CO broker is backed by a team of specialists who can advise you on warranty, crewing and maintenance costs, create forecast operating budgets, or advise on charter regulations so that you can make an informed decision.

Guide To Yacht Purchase

We Find The Yacht That's Right For You

Guide To Yacht Purchase

You’ve Found A Yacht, Now What?

Offer to Purchase

Once you’ve found the yacht you want to purchase, your Y.CO Broker, supported by the work of the Y.CO data and market intelligence team, will advise you on a price to offer. When it concerns getting the right price, nothing is left to chance. You will receive market comparisons, analysis reports and tangible evidence as to why we suggest you place an offer at a specific price. To ensure you are protected, at this stage we will also advise you to contract an independent maritime lawyer; and we’ll provide you with a list of trusted and experienced lawyers to choose from.

You’ve Found A Yacht, Now What?

Survey and Sea Trials

After acceptance of the offer, a sea trial and haul out will be arranged on your behalf. The sea trial can last a day or two, depending on the size of the vessel, and it allows your Y.CO broker, our technical experts and an independent yacht surveyor to verify that all the systems on board the vessel perform as specified. All engineering systems are tested and performance readings taken. Following this the yacht will be taken out of the water and thoroughly inspected by the surveyor and their team. Y.CO’s technical team will also be present to supervise the process.

You’ve Found A Yacht, Now What?

Document Collection

A checklist of legal, technical and financial documents must be collected before the sale can be completed. Your Y.CO broker will liaise with the seller, the seller’s broker and their legal representatives to complete the agreement.