A Guide to Buying a Second-Hand Yacht

If you are ready to make the ultimate floating investment in the shape of a second-hand yacht, there is indeed much to take into consideration. A lot depends on how much you know about maritime vessels, and even a used yacht will set you back a significant amount, and rather than risking a private purchase, you are advised to seek out the help of an established yacht broker.

Calculate your Budget

This is something you should do prior to making contact with a yacht brokerage, as this would be the very first question the broker would ask a person who is looking to buy a used yacht. Once the broker knows your budget, they would also require some information about the style of vessel you are looking for, which will help them to provide a list of suitable yachts for sale that are currently available.

Knowing the Vessel History

It is very important to have some background knowledge of any used boat that you are thinking of acquiring, and when you are dealing with a reputable yacht broker, all vessels would have a comprehensive history that dates back to when the boat was first commissioned. There would be detailed reports on the current condition of the yacht, plus a list of service, repair and maintenance that the vessel has undergone in its life.

Yacht Survey

The safest way to check the structural integrity of any seagoing vessel is to commission a survey, which should be carried out by an independent body, rather than the yacht broker, who obviously has a vested interest. Here is an interesting article that offers ideas on how to afford your bucket list travel ideas, which makes for an interesting read.

Broker Reputation

This is one thing that you should check, whether or not the broker has a good reputation within the boating community, and if they do, this is a very strong indication that they only offer top-quality vessels. Of course, any vessel on offer from a yacht broker would come with their seal of approval and some kind of fair warranty, which really does give you peace of mind. Here is a link to the website of the International Yacht Brokers Association, if you wish to check the status of a yacht broker.

Going for a Sail

Of course, much like buying a used car, you are advised to take the yacht for a sail before making any decisions, which can normally be arranged by the broker. This might be at the same time as the viewing, or you might have to book an outing for a later date, depending on availability of both the vessel and its owner.

It would be normal for the current owner to accompany you on a sea trial, which gives you a chance to see how the vessel performs, and after this, you would want some time to discuss the pros and cons with your family before making an offer on the vessel.