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5 Important Factors to Consider Before Buying a Pre-Owned Yacht

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For many items on the market, quite a lot of people actually look into the pre-owned category. That applies to yachts in very much the same way as it does to cars, watches, luxury bags, musical instruments, and  a lot of other goods. In fact, many first-time yacht owners enter into the yachting lifestyle with a pre-owned vessel instead of a brand-new one. For one, pre-owned yachts can be bought at much cheaper prices compared to their brand-new counterparts. For another, a fledgling yacht owner might feel more comfortable learning the ropes on a secondhand vessel because the boat has already been broken in. Lastly, having a pre-owned vessel will afford the owner the same thrilling yachting experiences as a new boat. Yacht parties, day cruises, or liveaboard trips with friends and family will feel no less magical on a secondhand yacht.

But of course, there are tradeoffs to buying a pre-owned yacht as opposed to a new vessel. If you don’t choose your yacht carefully, you run the risk of dealing with expensive maintenance or repair problems. Moreover, the idea of buying a yacht at a low price may get in the way of other deciding factors, like whether it’s the right model for you. That’s why it’s important to do your homework and think extra carefully about buying a pre-owned yacht. Make sure you end up with a vessel that’s sturdy, well-maintained, and free of troublesome issues that could burn holes in your pockets. Above all, aim to buy a boat that matches your yachting ambitions—because that’s what truly characterizes a great deal.

Here are five important factors that you should consider before agreeing to buy a pre-owned yacht. This guide is best for first-time yacht buyers, but some points should also prove useful for repeat buyers who are more experienced in the hobby. 

Are You Ready to Start the Yachting Life?

The very first consideration you should make is whether you are actually ready for the yachting life. Whether the vessel in question is pre-owned or brand-new, owning a yacht is a tremendous responsibility. You will be in charge of mooring it, getting a crew for it, and overseeing its day-to-day maintenance. You should only consider buying a pre-owned yacht if you can say, for sure, that you know what the yachting life entails.

Draw up a budget for a secondhand yacht only once you’ve studied yachting extensively If you have friends who have been longtime yacht owners and they can introduce you to the hobby and sport firsthand, that would help as well. You can even enroll in a sailing school so that you can learn the ropes yourself.

Next, find the best channels for buying pre-owned yachts in the Philippines. Be aware that some yacht sellers may take advantage of a buyer’s inexperience and short-change them on a deal. You can avoid this by stocking up on your yachting knowledge and by browsing pre-owned yachts for sale from a reputable yacht dealer. Europa Yachts is one such example in the Philippines. New and veteran boat owners alike will benefit from Europa Yachts’ trustworthy yacht brokerage services.

What Does the Marine Surveyor Say About the Boat’s Condition?

After you’ve decided to get a pre-owned boat and have found good avenues for acquiring one, it’s time to pay attention to the technical aspects. You will want to know exactly the kind of condition the boat is in, as this determines how much you’ll need to pay for repairs, maintenance, or additional customization.

The best way to go about this is to hire a marine surveyor to help you assess the yacht’s condition. Get a complete picture of what you’re buying by securing the following information from your surveyor:

  • Any evidence of damage or wear-and-tear to the boat’s engine, hull, or electrical work. These are crucial, as without updates on these, you will not know exactly how seaworthy your boat is.
  • The status of key fixtures on the boat, such as its sails, VHF radio system, rails, lights, and doors. You will need to know whether to refurbish any of these.
  • Any significant areas of concern with regard to the boat’s cosmetics, such as its flooring, glass windows, and leather. When you start cruising, you wouldn’t want dirty or worn-out cosmetics to take away from the experience.

It may cost you a little extra to hire a surveyor, but you’ll have extra clarity on the next steps to take before you finally hit the water.

Is the Boating Brand Known for Quality and Endurance?

Just like for cars, fashion items, high-end sports equipment, and the like, some brands are better known than others for their quality. When choosing between pre-owned yachts, you’ll want to know which boating brands can actually stand the test of time. You’ll be surprised what veteran yachtsmen have to say about particular brand names.

To familiarize yourself with the yacht models that have caught your eye, do a quick search for testimonials or reviews online. Pay attention if the reviewer says that they’ve had good experiences on the model, even if it’s secondhand. This should be a good indicator of whether you can enjoy using your yacht for a long time.

What Kind of Boating Experiences Did the Previous Owner Have?

Another factor you should consider is what kind of life the yacht has seen with its previous owner. Without this information, you may not be able to visualize your own experiences on the boat. Do your best to recount the boat’s history before you agree on purchasing it.

See if you can find out the following about the previous yacht owner:

  • Whether they were the first owner of the boat or whether they were secondhand owners themselves.
  • What year the boat was acquired, and from where.
  • How many times a year they used the boat, and for how many days, weeks, or months at a time.
  • What applications they used the boat for (day cruises, parties, etc.).

In addition, find out whether the yacht was insured and whether it’s eligible for any warranties.

Is This Yacht the Right Type for the Experiences You Want?

Lastly, you need to know whether the yacht is suitable for the yachting experiences you desire. It may seem affordable in comparison to other yachts, but it will only be a good deal if it aligns with the boating life you want.

If you intend to be at sea for long periods, find out if the model is the best one for liveaboard cruises. If you eventually want to learn how to race, see if the boat can take you through your first regatta. You’ll enjoy your purchase even more if your secondhand yacht helps you achieve your individual dreams for it.

Truly, buying a brand-new yacht isn’t the only way that one can enjoy the yachting life. For some, there’s even more appeal to being the second owner. It will feel as if they’re adding to a rich history of happy yachting experiences on their pre-loved boat. For as long as you are thoughtful about the purchase, acquiring a secondhand yacht for yourself will be extremely rewarding. Happy cruising, and may the new chapter of the yacht’s ownership be a great one for you!

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