New Yachts
For those who have never bought new yachts, it is important to know one thing – yachts are an expensive business. For those who are considering buying a new yacht there are few things to know. New yacht for sale signs are all over the place and can be very misleading. All new vessels depreciate in a few years. No matter what the ad says about the new yacht sales, one should analyze the boat.
When buying old or new motor yachts, remember the boats have been floating on dirty contaminated and corrosive water for years. Add to this the effects of the hard environment like the sun, windy, rain and smog. This is what the yatch goes through and should be considered when buying an old yatch. Beginners always sacrifice quality for fashion and style over function.
When going to see a new yacht sale, take a walk through a marina or a boat yard. Check the age of the boat and look at the finishes/painting. Is the plastic cracked or crumpled and what about the hardware? Look at the railing and check out for crakes. Do the windows have excessive smears with caulking which most likely indicates leakage of water? Are there windows for recreational purposes when you go cruising? What about the cockpit? Is it open or enclosed?
Many professional boat owners go for old boats and the younger novices go for the new yacht sales. Experienced boaters know that there is a better dollar value in used yatch than new yatchs. The older yachts have already taken the depreciation hit and are a lot cheaper. Yachts like cars are not an investment but a major luxurious expense. If you plan to have a vessel for only a several years, then you should go for a used vessel which will be better value for money.
Estimating marine repairs is very difficult and costs are nearly double of what is always suggested. Both old and a new yacht for sale must be surveyed. After the survey ask a yard to estimate the cost of repairs. If the professionals are having a hard time coming up with a number than the chances are than it is going to be a lot of money.
Moreover, there is the cost of ownership which includes maintenance and repair. New motor yachts are relatively maintenance free for the first few years but then the costs can go up exponentially. Regardless of the yatch, some type of maintenance will be required in 5-7 years. Never rush when buying motor yachts. If a broker insists you sign or they will sell it to the next buyer, then you need to walk away and work with. Most important when you sign the agreement make sure that there is a statement that allows you to cancel the agreement if the vessel is not up to standard. All new yachts should undergo a sea trial in open waters for at least a few hours before purchase.