Buying a second-hand yacht is a massive investment. Therefore, some factors will require careful consideration to ensure that you get your money’s worth. Here are some tips to help you find the best deal on a new boat and other things to consider about the purchase.
The Internet is an Invaluable Tool
We have become accustomed to using the internet to buy all manner of items. You might not think it would be the best place to purchase a yacht, but there are many valuable sites and forums for this. You can find boats for sale on reputable sites like TheYachtMarket, which offers a safe and reliable shopping experience when searching for used boats.
Shopping for a yacht online can help expand your search to find the boat that best fits your needs. Additionally, scouring the internet for a great deal will undoubtedly end up saving you money, as you can find hidden gems at attractive price points this way.
Ask the Seller Questions
Once you have found a yacht that appeals to you, you must inspect its condition before exchanging any money with the seller. However, you don’t want to waste your time traveling to see the boat if it will be a dud. Therefore, before viewing, ask the seller questions that will give you an indication of the condition of the yacht. For example, ask about its age, usage, and the state of the engine or of the rigging. You could also ask for additional photographs or details of a previous survey. If you are unsure what to expect from survey reports, you can find some examples here.
This is an excellent way to gauge the seller’s honesty, as if they are not forthcoming with answers to your questions, it could be a red flag.
Inspect the Yacht Yourself
Once you have had your questions answered and you have determined that the yacht could be the one you’re looking for, you should travel to see its condition yourself and conduct a survey. Pictures cannot tell the whole story of its shape, so it is worth traveling to inspect it.
What if the Seller Wants You to Pay a Deposit?
If you are buying a yacht from a private seller, it is inadvisable to put down any money before thoroughly inspecting the state of the boat. If you pay a deposit, and then the survey comes back detailing severe faults with the yacht, some private sellers will refuse to refund your deposit. As a result, unless buying from a commercial seller, you should avoid paying a deposit unless you are confident that there are no issues with the vessel.
Overall, when buying a boat, you need to be confident that you understand the vessel’s condition perfectly and that the terms of sale are made very clear before exchanging any money. The internet is a brilliant tool for finding boats, but you should remain vigilant if you are looking to shop online. Asking detailed questions, conducting surveys and travelling to see the yacht yourself is necessary when buying a boat online.