If you have enjoyed a successful career, have a second holiday home and are now ready to make your first yacht purchase, there are many things to consider. As you well know, buying a luxury yacht is a considerable investment that comes with very high maintenance costs, which must be taken into account. In this article, we offer you an insight into yacht ownership, with the aim of educating you about the many aspects that go hand-in-hand with owning your very own yacht.
* Calculate your Budget – Prior to thinking about size and type, you should crunch the numbers to find out what you can comfortably afford. In the event you had a big lottery win, you will probably pay cash, while finance is available for the right customer. Once you have a ballpark figure, then you can start looking at what is available that is within your price range.
* Yacht Brokers – Whether looking for a yacht for sale in Thailand or Europe, a Google search will bring up a list of reputable yacht brokers and you can begin to browse their used vessels that are up for sale. Why go to the yacht broker? That’s who the yacht owner approaches when they wish to sell and the broker has the full history of the vessel and can arrange a viewing and ultimately sea trials.
* Yacht Care – You can’t simply park up a luxury yacht for a few months, indeed, yacht care is a major part of ownership and not something to overlook. The broker would be able to furnish you with details on any of the vessels that have on offer, especially mooring fees, maintenance and crewing. Here is an informative blog on how to arrange a yacht wedding, which is becoming very popular.
* The Vessel’s History – Of course, it is crucial that you have access to the entire history of the yacht, from its initial build up to the present time. Details of all servicing, parts replacement and the add-ons that have been incorporated since the yacht was launched; all this data needs to be scrutinized and you should prepare a list of questions for the broker, who is acting on the owner’s behalf. If you have little marine experience, hire an expert to browse the paperwork and give you a professional opinion as to the condition of the yacht.
* Charter Options – Most yacht owners put their vessel up for charter during the times it is not in use and the broker would facilitate this on your behalf. You could generate a healthy return if your yacht is chartered a few times during the summer season and you can slip a voyage of your own into the schedule, if you and your family fancy a break. The number of charters you receive would largely depend on your choice of broker; a leading company would have a larger number of potential charters than a small-time broker. If you are planning a trip to Thailand to view a yacht, check with the Thai government about Covid-19 entry requirements, which might be in place.
The key to a smooth yacht sourcing experience lies with your choice of yacht broker and by using one that has a good reputation in the industry, you can be sure that all vessels are in good condition and fairly priced.
