Tips Before Buying a Second-Hand Yacht

3:00 AM | Posted by Unknown


Isn't it a wonderful feeling if you are having your own yacht and not just spending too much on chartering one? We usually consider yacht as one form of luxury. Sometimes having a yacht is often used as a measurement of wealth to people belonging in the elite family. Whether it is newly built or second handed, a yacht is a yacht. Choosing a second hand yacht can be tough for buyers since there are so many things to consider if compared to buying a newly built one. How will you know if your second hand yacht can be considered a worthy deal? 

Here are some tips that you might consider if you're planning on buying one:
  1. Check Out the Builder of Your Chosen Yacht
What comes first to a buyer's or customer's mind when buying clothes, office equipments and materials is its brand, durability, effectiveness, and practicability. If a brand is well-known to produce these kind of products then most customers build their trust with these companies. Same is through when checking out the builder of your prospected yacht. If the builder is trust-worthy enough and is known for its quality work then there is a possibility that the one you are going to buy cannot be easily damaged or is safe for a ride even it has been used many times before. You can ask a family member or a friend who have background experience with yacht and boat for any suggestion.
  1. Know the Reason Why the Boat is Being Sold
In selling a second hand item or product, there must be a reason or reasons behind it. As a buyer you should know what are these. This is necessary for you to be able to know if there is something that needs to be restored, mend or improve if you are going to buy the vessel. This will also help you know if the cost of such repairs and improvement can be equated or not with the cost of buying a newly built yacht.
  1. Know How was the Boat Used
Knowing how it is being used before is very essential. In knowing this, you will be able to know what parts and equipments of the yacht is frequently used by the past owner. This will give you the idea on what to check first for damages and if how long can it still last.
  1. Have a Survey
Get opinions from other people around the place where the yacht or boat have onced been used. People won't get anything from lying. This is the best way to know that you are not just being sales-talked by the seller.
  1. Have a Surveyor
Let a surveyor check the yacht from gel-coat, upholstery, waterlines, control cables, electrical connection, hatches and sea cocks, onboard systems and the like. You have to make sure your surveyor knows what he is doing and should be doing.
  1. Have a Sea Trial
This is the most important part before you part with your money. Of course you will not just directly buy a yacht without having it tested. Usually, the seller is the one responsible for finding a person to maneuver the boat or he can do it himself if he is capable. During this stage, together with the surveyor, seller and broker, pay attention to how the yacht is being used, how the equipments and machine works, and how it is being controlled. This way you will know what are the necessary changes to apply after buying it. But if you found some problems during the surveyor's check-up and sea trial, you can ask your broker for an option or discuss a price concession in order to help cover the cost of repair. Don't totally reject the yacht. Always put in mind that you are not buying a first-hand so don't expect it to be in perfect shape.
  1. Get it in Writing
Lastly, when everything has been set to your standards, it's time to have everything written. Your broker should prepare the Acceptance of Vessel Agreement. This will confirm that you agree in buying the yacht.
Just be guided and be informed. Soon you'll be able to enjoy your own yacht without having regrets.

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