Your guide to buying a sailing yacht

 

 

What will you use the yacht for?
With so many different brands and types of sailing yacht available, it is important to keep track of the reason that you wanted your yacht in the first place, and most importantly, what you will use her for.

Think long and hard about what type of sailing you want to do. Are you planning weekend cruises in the Med, or blue water adventures to far-flung corners of the world? This will determine the type of yacht that you should go for, its layout, and what equipment you have on board.

Are you looking to sail shorthanded or with crew? As this will determine the size of yacht and the number of cabins you have below deck.

Will you sail with your partner or your entire family? And will you spend most of your time inside the yacht, or is your dream more focused on relaxing on deck? This will determine the size of your boat and its composition, for example, whether it offers spacious interiors or bountiful outdoor space to soak up the sun.

All these factors will affect what kind of yacht you eventually purchase. Try not to get carried away - think about whether you actually need that spare guest cabin or whether the space would be better used for living/dining.

Why is the yacht being sold?
When you're buying a used sailboat, one question you need to ask is why the current owners are selling. It may just be that they are ready to upgrade to a bigger boat, or are scaling back from a family yacht to a couple's yacht. But, if there is something wrong with the yacht that's causing them to sell, this is information then you'll want sooner rather than later! If the owners seem like they are being purposefully ambiguous or their story doesn't seem to add up, be wary and ask more questions.

When do I need my sailing yacht? Is there a chain?
Much like with a house purchase, when buying a used sailboat you may find that your dream yacht is in fact in a chain. This means that the seller will need to have agreed the sale of their yacht - the one you are interested in buying - with you before they can move forward with the purchase of their next vessel, entering you both into a chain with the seller above.

If this is the case then you may be looking at a longer time before getting out on the water on your new yacht. However, you may also be able to negotiate a better deal on your dream sailing yacht to ensure that the chain is kept intact, so it's important to ask for details of the chain when buying a sailing yacht.

How has the yacht been used previously?
Any information you can get about the yacht's previous life will help you to understand its current condition. Ask how the yacht has been stored, whether it has been involved in any accidents, how often and when it has been serviced, and whether it has spent a long time in salt water. These are all things that could reveal underlying issues, which could either change your mind about the purchase or help you negotiate a better price. Make sure you employ a surveyor to get a professional opinion on the state of the boat as well.

 

 

Can you afford a yacht when considering the upkeep costs?
It's one thing being able to afford the initial payout for your yacht, but all boats require regular servicing and maintenance, and oftentimes refit work. What's more, the bigger you go, the more work will likely need to be done. As a general rule of thumb, owners can expect to spend about 10% of the purchase price of their boat annually on operating and maintaining their sailing yacht. Is this cash that you know you have available? If not, you may want to consider a smaller vessel.

Is it possible to refit the yacht to suit your family and style? How much will it cost?
If you are buying a used sailboat you will likely want to refit the boat to better suit you and your lifestyle, from changing minor details like the upholstery to switching around the layout of the yacht, for example to create a children's bedroom from a guest suite. While the options are numerous for refit, bear in mind that permanent things such as structural bulkheads cannot be moved. Get the advice of a yard before committing to your purchase.

Another thing to consider is that while it may be possible to do the refit work, you may not be able to afford these additional costs at the time of purchase. If necessary, would you be happy to use the yacht for a season without those changes made or put your season on hold? If not, you might need to reconsider.

What are the boat's warranties?
You should always ask about the warranties when shopping for any boat - this applies to both new and old vessels. After all, some are transferable to new owners, and this will be a good selling point if you want to sell the yacht in the future.

Are there any benefits to buying from that particular builder?
As with any big purchase, you will want to check the reputability of the shipyard that built the boat you have in mind. Look online to see what the general opinion is of their yachts and how long-lasting they are, as well as the solvency of the company itself for longevity.

If you are fortunate to be buying a sailing yacht by a more luxurious builder, you will know that it isn't always all about the yacht itself, with some builders renowned for fostering a fantastic community complete with amazing owner events. This is certainly the case with bluewater yacht builder Oyster Yachts, which offers its exclusive sailing lifestyle to anyone who buys one of its sailing yachts for sale. Yards like this are worth checking out, especially if making friends with likeminded people is one of the reasons you are buying a sailboat. From exhilarating rallies to glamorous dinners, look for a manufacturer that hosts events that you would want to join in with.

Hopefully this has helped you in your journey of buying a used sailboat - here's to your future sailing adventures!
 

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