Luxury Yacht For Sale – A Complete Buying Guide
Becoming the owner of a luxury yacht can be quite an amazing experience of your life, representing your love for comfort, adventure, luxury, privacy and style. However, buying a yacht can be a complex decision to make since a lot of factors need to be considered between purchasing, maintaining and owning a yacht.
From the designs to the features, payments to registration, everything can be a tiring process if this is your first attempt at buying a luxury yacht.
To help you with all these things, here is a comprehensive guide.
Why Should You Buy Luxury Yacht?
There can be two reasons behind considering a yacht purchase; personal or professional use. For personal use, you can buy a luxury yacht depending on whether you want to go on short cruises or you want to live permanently on a yacht or a housebot for some time.
A smaller yacht with fewer amenities can work perfectly well if you are considering taking short cruises but if you are looking for somewhere to live for a few weeks, you would need a larger yacht with proper accommodation.
Professional use of a luxury yacht involves starting a yacht charter business.
You can rent out your luxury yacht to someone else for small cruise trips in popular tourist areas like the Mediterranean and the Caribbean.
List of Offers
Why Buy Luxury Yacht When You Can Charter One?
Opposed to renting, buying your own yacht comes with several benefits. If you really like sailing and go out in the waters sailing every month, renting can cost you a lot more than buying in the long-run. Before you buy a luxury boat you definitely should have a reasonable boat budget plan in place.
Also, you will have fewer options regarding what to select, especially if you wait too long to make a reservation. With rentals, there are no last minute-decisions that you can make.
Maintenance and conditions on many of these rental yachts might be sub-standard and you may have to deal with problems like water shortage or worn-out accessories.
If all of that does not sound appealing to you, buying is definitely a better option.
How to Select the Right Luxury Yacht for Sale
A large selection of luxury motor yachts for sale is available here, allowing you to buy a used or new yacht in as-is condition, or going for new yachts with either semi-customization or complete customization.
You need to figure out what luxury yacht interiors, types, features and size you are looking for.
Here are some key factors you should consider:
- Should you buy a used sailing yacht or a motor yacht?
- Should you get one that has semi-planing hull shape, slow full-displacement or high speed performance?
- Are there any size restrictions to consider in terms of location accessibility or docking space available?
- How many guests will be cruising and sleeping on-board?
- Are replacement parts of the luxury yacht you are buying readily available in the market?
- What is the suitable number of crew members you need on-board?
- Where do you intend to travel on your yacht?
Sailing Yachts or Motor Yacht – Which One to Buy?
A luxury motor yacht can be powerful, with one or more diesel engines for powering the propellers and other electronic items onboard. This type of yacht can allow better accommodation opportunities with more amenities that depend on the use of electricity.
However, operating a luxury motor yacht would require the help of a lot of crew members, especially if the number of amenities keep growing. Motor yachts don’t keel over in the lack of wind, can move faster and are more comfortable.
Different types of luxury motor yachts included in the motor yacht category are displacement yachts, expedition/explorer yachts, open style yachts and planning yachts.
A luxury sailing yacht on the other hand is quiet, less powerful and more dependent on the wind for sailing. Although luxury sailing yachts are equipped with diesel engines to make them move in a certain direction when necessary, for the most part they are navigated through wind power. The amenities that can be included in sailing yachts are luxurious as well but they are simpler in nature, featuring little electronic entertainment. Sailing in these boat requires handling, rigging and you may require a skilled crew.
The different types of luxury sailing yachts you can consider buying include classic used sailboat yachts, performance yachts, monohull yachts and catamarans.
Cost of Owning a Luxury Yacht
Understanding the real cost of owning a yacht can be complex, but extremely important before you purchase one. Depending on the size, condition, and amenities on your yacht, the prices can vary between a few thousand dollars and millions of dollars.
A used 19-foot motor boat can cost you around $25,000 with little amenities to boast while a 37-foot new yacht with amenities can cost around $400,000. Getting some basic extra installations like a generator can increase the price for a sailing boat by $150,000 maximum.
Next, you have to consider fuel prices. If you have a single engine, fuel efficient yacht, the fuel costs for its 80-gallon tank can be $400-$500. On the other hand, the fuel costs for a 350-gallon tank of a fuel-efficient heavy duty power yacht can be $1,750. An additional $300-$400 would be required for an oil change.
Then you need to consider costs of taxes, title, registration and insurance on the yacht which vary depending on the state the yacht is kept in.
Other costs you should consider carefully include docking charges, storage in winter, maintenance and repair costs, safety equipment onboard, wages for the crew members, and cruising and cuisine costs.
Get Financing to Buy Luxury Yacht
There are a lot of banks that offer financing options for buying used or new luxury yachts on different terms. If you choose to pay a proportion of your loan and interest at a later time through refinancing or the resale of your yacht, your lender gets a right to decide where you can keep and register the yacht.
They can also demand a part in the charter money you might be making from the yacht.