Remember the 30:70 rule: The builder makes 30 percent of the boat and purchases the remaining 70 percent from other suppliers, almost all of which has to be periodically replaced at ever-higher prices. The 30:70 rule helps explain high rates of depreciation — typically 50 percent after the first decade and 75 percent after the second.

Tim Bright, Author

How to purchase a yacht?

Many factors contribute to the selection of a yacht. At the root of any sound yacht purchase decision is the core performance factors that are essential to consider long before you review interior decoration or layout.

  • Motor or Sailing yacht
  • High speed performance, Semi-planing hull shape or slow full-displacement?
  • Size restrictions: Will you need access to a location with draft, beam, length or height restrictions? Does the dock behind your home have X feet available water or a fixed bridge limiting access to yacht with an air draft of less than Y feet?
  • Guest carriage requirements: Number of guests cruising onboard and sleeping onboard?
  • Maintenance issues: Are parts readily available in the intended cruising areas?
  • Crew: Will the yacht accommodate a suitable number of crew to match your service expectations?
  • Range: Where in the world do you wish to travel? If those ports are not serviced by a yacht transport service then the yacht will need to have an ocean passage making range and hull shape.
  • Full-displacement vs. Semi-displacement?

How to buy a yacht?

  • Step 1: Search and selection

  • Step 2: Offer

  • Step 3: Offer accepted

  • Step 4: Survey

  • Step 5: Sea Trial

  • Step 6: Acceptance

  • Step 7: Closing

Focus on the total acquisition costs: the purchase price plus the inevitable refit. A good rule of thumb is to use only half the boat budget to buy the boat, then employ the other half for the requisite upgrades. A common boat-buying mistake is not reserving enough money for the overhaul.

Tim Bright, Author

Take your time buying a yacht. Yachts that are for sale at ‘great’ or ‘giveaway’ prices are rarely a good buy. The cost of refitting a distressed vessel can far exceed the capital savings that you think are present on day one. Our brokerage staff can direct you to a good value vessel and away from a money pit.

Charter prior to owning. Yachting is very expensive and owning a yacht is a truly unique vacation experience. Chartering a yacht is a great way to sample yacht ownership with a fixed cost and minimal time commitment. Bright Yacht Management can charter you a very similar yacht to the one that you are looking at so that you can be familiar with the brand or style of the yacht that you are interested in buying.

Understand the cost of ownership. The cost of yachting is fairly tough to justify in the real world however it is an amazing luxury experience that is only within reach of the truly successful. Please speak to a yacht management professional prior to purchasing a yacht so that you have a clear understanding of the operating costs associated with that yacht.

Have a strong shore support team. Yachting is a luxury pastime with ups and downs. The Bright Yacht Management team is available to support your operations to smooth over any issues that may arise. If you chose to operate the vessel from your existing offices please call us to help with the setup. We are happy to train your existing accounting or Payroll Company in some of the intricacies of yacht operations.

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