Buying a yacht requires patience, time, experience, expertise, and a lot of money. You cannot just go out and purchase just like you do for other things. It requires skills and skills that can investigate a yacht for everything and decide whether it is worth buying. If you own a yacht already, that does not mean you are the right person to evaluate a yacht for purchase. Therefore, it is always recommended that you look for professional yacht brokerage companies or brokers for this service.
Yacht brokers or brokerage companies are experienced, reputable and have a unique and in-depth knowledge of the superyacht industry. They know the market and the customer base very well. So it is easier for them to work on the process of buying a yacht. Moreover, they also hold the most comprehensive database of yacht buyers and sellers and have access to the broadest inventory of luxury yachts for sale.
From yacht evaluation, servicing, negotiation, pricing, surveys and sea trials to support with ownership and guiding you in legal complexities, brokers are specialised in all aspects of yacht buying.
Steps to Buying a Yacht
What Type of Yacht do You Want to Buy?
Once you have decided to buy a yacht, the next step is to find out what type of yacht you want. You may have a fetish for renowned yacht builders, or you may plan depending on hull types, the different usage, styles, appearance, features and size; the options are countless, each with various performance capacities, purposes and cost.
Below are some questions you need to answer before considering a yacht for purchase:
- Do you need a yacht?
- Are you looking for a new or used vessel?
- Are you planning to purchase a custom-built or semi-custom yacht?
- What are your plans for the use of your yacht?
- Are you looking for a high-speed boat for short-distance trips or long-distance cruising vessels?
- What size of a yacht are you planning to buy?
You can take the help of the internet to browse through the yacht type guide to understand the different types of yachts available and how they can meet your expectations.
Find a Suitable Yacht Broker
After you have decided on the type and features of your yacht, it is time to speak to a yacht brokerage company or an independent yacht broker. Tell your yacht broker about your expectations and purposes. The broker or yacht for sales expert will be responsible for searching for your perfect vessel. Brokers are more knowledgeable and skilled in understanding what each yacht category has to offer. Since they have been in the industry for a long, they know what options will fall into your budget. Brokers are also well connected in the industry and can provide you with a shortlist of yachts available for sale, making your search easier.
Negotiations, Agreement, Sea Trial and Purchase
As soon as you have found your yacht for purchase, your broker will manage all other formalities, including negotiations. Once you and your seller reach a common agreement, both can agree on the sale and purchase contracts. Then a Memorandum of Agreement (MOA) will be drafted with detailed information and signed by both parties after you have selected your yacht. Next, your broker can help you with sea trials and check for conditions and performance of the vessel. Negotiations may follow after that, and once both parties agree, necessary documents will be exchanged. After payment, the sale will complete
How Can a Broker Help You?
Yacht brokers can handle all the documentation to help you in your yacht transition process. Brokers are experienced in the industry and aware of legal formalities, costs, yacht conditions, negotiations, insurance and availability of your yacht in the market specialists. They can also help in maintenance, service and parking if required. A professional yacht brokerage company will ensure a smooth transition of a yacht from the seller to the buyer from start to finish and throughout your entire acquisition process.