If you already own a yacht, then you are probably already part of the local, exclusive boating club and have some contacts, but, if you want to sell your vessel, how do you get the best value for money in the process? On the other hand, if you are interested in purchasing a yacht how do you know what you are looking for and what good value for money looks like when it comes to something like a yacht?
Selling your yacht
As long as all of your paperwork is in order, then selling your yacht should be easier than purchasing one, finding a buyer might be a little tricky though especially if your vessel is worth an arm and a leg. Most people will employ a well-established yacht club like Simpson Marine to sell for them. When buying and selling yachts with Simpson Marine, you will be in very good hands; they should take care of everything for you including marketing your vessel to a network of prospects and checking the following points on your behalf.
- Make the most of your ad:
- Have your boat appraised:
- Prepare your boat prior to each viewing:
- Be able to provide a record of the boat’s full history (don’t try to hide details of any damage or repairs, etc
- Draw up an inventory of the onboard equipment:
Buying a yacht
If you’ve never purchased any kind of water going vessel before then there are some things you can look at to make sure everything is above board, so to speak, and that you are not going to end up with a money pit;
Title search
Much like, if you were buying a car or similar, you would probably check that the vehicle is registered correctly and that it falls in line with the marketing documents, you’ll want to ensure that it isn’t stolen and that the service history matches up with the equipment on board. Here are a few packing tips when going on a foreign holiday. Make a point of checking the following;
- There is no title or certificate of registration.
- A title that seems to refer to a totally different ship
- Debts that relate to the yacht itself or any of the equipment on board
Employ a marine surveyor to inspect the boat
You can pay a fee to a marine surveyor to check the vessel you are considering and passes it, or fails it based upon the criteria they follow. It is always worth getting a second opinion when getting a yacht inspected, it is not unknown for vessels to pass only to develop a problem because the inspector missed something. Make sure you are present at the inspection and make sure they check everything from the electrics, the engine and to do a thorough inspection of the hull and the deck as well as any removable items such as a raft or a dinghy.
When you are purchasing something like a yacht you should consider quality over size, mainly because, if you have better quality equipment then it should perform better, look better and last longer. The bigger the vessel you buy, the more money you will spend on running and upkeep so, always keep that in mind, quality over quantity.
