Once you have selected the type and build of superyacht you desire, the buying process becomes much more complex. With so many options, it can be difficult to determine what to look for and the right questions to ask. This buying checklist is designed to assist you through the various stages of purchasing a new or existing superyacht.
Approach the shipyard to find out more information about your proposed plans:
- Where will the yacht be built?
- What kind of equipment is included?
- How long will it take to build?
- How are warranty repairs made?
- How many hours are on the yacht’s engine?
- Does it need any repairs?
- What equipment is included?
- Has it been regularly maintained?
- Arrange to view the existing superyacht, or to meet with the shipyard and chosen designers if possible. Consider taking a tour of the shipyard to determine how the builder’s products hold up over time.
- Calculate the full cost of ownership, including depreciation, interest, insurance, dockage, fuel and repairs. Figure maintenance as an annual percentage over the period of ownership.
- For existing superyachts, request a sea trial, and attempt to have the owner and/or broker on board. Make the purchase conditional on a survey from a qualified marine surveyor you choose yourself. Make your purchase decision only after you've read the survey report.
- Arrange for the appropriate MOA or Builder’s Contract to be drawn up and signed, ensuring all specifications are featured in fine detail. You may be required to put down a 10% deposit.
- At the completion of the sale or building process, release the final funds.
Ensure you have all the appropriate documentation including:
- Superyacht registration.
- Warranties and manuals.
- Contract signed by all owner.
- Make sure you have an appropriate mooring position secured.
- Ensure you have the appropriate contact details for any post-sale services or issues.