Private boats and yachts are one of those vanities that only a few abled ones can afford. While owning a boat or yacht is an incredible experience, buying one is equally laborious and tiresome. Given that it is a luxury, it is also certain that buying luxury boats for sale or even yachts is a onetime investment and involves a lot of money. The money involved in the transaction is huge, be it a new one or a used one. Other than the seller or manufacturer, there are a lot of third parties involved too, a few namely broker, insurance provider, financier, mechanic etc.
Thus, even if you are taking the help of a broker or agent to have a hassle free process, there are a lot of decisions that you have to make by yourself. This article discusses those considerations one should make while buying luxury boats and yachts for sale in brief. If you are considering buying a boat or a yacht in the near future, do remember to follow these steps before proceeding any further.
1. Purpose of Purchase
Though it is obvious that one buys a boat or yacht for pleasure, it is important to clearly define and categorize those pleasures. To state it more clearly, each boat/yacht is designed for a specific purpose like cruising, racing, fishing, island hoping, scuba diving etc. Thus, before you make your purchase, it is important that you know what activities you will be doing with your vessel.
2. New vs Used
The next big decision you have to make while you are at a luxury boat and yacht sale is do you want a new one or a used one. People normally buy used boats or yachts for projects they would want to work on in their free time or to save money. However, if you are solely buying a vessel for pleasure it is better that you buy a new one as it won’t have any performance issues and comes with a warranty you can claim anytime.
3. Power vs Sail
Generally there are two kinds of boats/yachts namely sail and powerboats. If you are willing to buy a vessel for sailing decide the hull type i.e. whether you want a monohull or a multihull. If you are willing to buy a powerboat for racing or cruising, decide on the type of propulsion you want i.e. outboard, inboard/pod, stern drive. It is very important to make this decision as it changes everything, from performance to style.
4. Gas vs Diesel
This is another choice you have to make before deciding things like manufacturer, model, make, color and other trivial things. Diesel engines are generally prone to repair and are costly to maintain once they are old. If you are not very concerned about the mileage factor and want you engine to work smoothly, gas engines are any day better than diesel engines.
It is difficult to know every technical aspect of a boat or a yacht if you have never owned before. However, there are a few technologies that you can’t afford to ignore such as hull length, water draft, air draft etc. that are crucial to decide whether your vessel is suited to certain waters or activities.
While you are at a luxury boat and yacht sale, the next thing to consider is to familiarize yourself with the manufacturer of the vessel or the seller if you are buying a used one. Do a quick background research on the manufacturer, its market share, reputation in the market and the brand’s resale value. You would want to buy a boat or a yacht that is exceptional when it comes to build and quality and also has a high resale value.
Lastly, you would certainly need a broker or a dealer who can get you through the laborious buying process at a luxury boat and yacht sale. From locating the perfect vessel for you to organizing sea trials to negotiating prices to preparing all the paperwork concerning ownership, taxation and insurance, the dealer will do all the work for you. All you have to do is choose a dealer who acts on your behalf and not persuade you to act on his/her whims.