Purchasing a Pre-Owned Yacht – Is Ongoing Maintenance a Barrier?

You picture yourself cruising on crystal clear waters in a far-flung corner of the world. Your family and friends are onboard, and you are sipping your favourite cocktail, proud that you have made your dream a reality by purchasing a luxury yacht.

What factors should you consider before investing in your dream? How can you ensure that your yacht is maintained and serviced correctly to ensure maximum performance and longevity?

PRE-OWNED VS NEW

Pre-owned yachts are an excellent choice to help fulfil your nautical dreams. Compared with new models, pre-owned vessels do not depreciate substantially and can be purchased for a much lower initial investment. In addition, they are immediately available for purchase in a wide range of models. They can also be modified and enhanced according to personal preferences. 

WHERE DO I LOOK FOR PRE-OWNED YACHTS?

There are two options for anyone wishing to purchase their dream yacht, buying from a reputable dealer or buying directly from the owner. A dealer will usually be able to offer financing packages and will include a warranty. They will also complete an extensive service of the yacht pre-sale. When buying directly from the owner, you may be able to negotiate a lower price. However, once the sale is made, you will have little or no after-sales support, and any issues could be costly to rectify.

WHAT MAINTENANCE SERVICES DO I NEED?

Regular maintenance is essential to enjoy your yacht to the fullest. The idea of a breakdown in a remote area, where help may be far away, could turn a dream holiday into a nightmare.

Simpson Marine is available to undertake routine servicing of your asset. This includes technical checks of all main mechanical systems and all facilities on the yacht, thorough interior and exterior cleaning, spare parts supply and supervision of all systems to ensure they are functioning correctly. Arranging a regular maintenance schedule is a recommended course of action, as is retaining all pertinent documentation that contributes to a full-service history.

I WANT TO BUY A PRE-OWNED YACHT, WHAT’S MY NEXT STEP?

The first step is to think carefully about your budget. Your yacht should be for pleasure, not a cause for financial headaches, so it’s important to be realistic about the purchase price.

The next step is to decide what you will mainly use the yacht for. If you are planning long cruises with family and friends, you will need a much larger vessel than if you plan to go on shorter fishing trips, for example.

A reputable yacht broker will aid you throughout the purchase process. They will ensure all necessary paperwork is completed and help you find your dream yacht.

Finally, before any purchase, you will need the services of a maritime surveyor. An expert casting an eye over the yacht could help to save you time and money. Ideally, try to find a surveyor experienced with your specific type or brand of yacht. They will provide you with an objective appraisal of the vessel’s seaworthiness.

ARE THERE ANY HIDDEN COSTS?

The purchase price is not the only financial consideration when purchasing a luxury yacht. Maintenance will be an ongoing expense, vital to ensuring your asset maintains its value. Additionally, unless you have a personal mooring, you will need somewhere to moor or store your vessel. Insurance must be purchased immediately, and these ongoing costs should be considered carefully before any purchase is finalised.

A DREAM COME TRUE

Choosing a pre-owned yacht is a fantastic way to start your voyage as a luxury yacht owner. Remember that the purchase price is only one of the costs to consider when setting your budget, and thorough maintenance is vital to ensuring that your vessel depreciates as little as possible. Once you have finalised your budget and engaged a yacht broker, you are only a few steps away from your nautical dream becoming reality. Choose from the plethora of pre-owned options available at Simpson Marine, and in no time at all, you could be sailing off into the sunset as captain of your very own luxury yacht. Get in touch with the experts at [email protected] and start the exploration of your dream yacht in no time.