Used boats: what to look for?

Boat age

If you decide to buy a pre-owned yacht, then the key points in your decision is its age. It is generally considered that 10 and 15 year old boats are some of the best to buy. 

The first ten to fifteen years of operation of a yacht is a key period of its life cycle. How the owner takes care of the yacht during this period determines its further value in the secondary market and its condition.

A fairly common situation that can be observed - seemingly absolutely identical boats are sold at radically different prices. This makes it difficult to determine the real value of the yacht, and therefore whether it has been modernized in any way. 

Has the yacht been upgraded?

Broker Alex Grabau believes this is the ideal age to buy. “I've seen a lot of yachts 10-15 years ago. And all, for the most part, are divided into two categories. 

The first category is a yacht that has been carefully exploited throughout the entire period. Such boats are well preserved, they do not need to be modified almost anything and they are more expensive.

The second category includes already modernized yachts. Unlike the first category, it is easier to find some flaws, shortcomings here, and you can bring down the price. This does not mean that such boats are worse than non-modernized ones, but you should not expect miracles from them. 

Such yachts will do their job properly, but no amount of modernization and repairs will replace the initial respect for the boat. ”

Are you going to upgrade? 

For some, the prospect of immediately going to the shipyard with a conditional "file" is very undesirable. For others, finishing yachts is something of a hobby and hobby. It can be compared to the “endless” refinement of your favorite car, motorcycle or electric guitar. Among buyers now there are always those who want to buy a yacht for just such purposes.

Beauty brokerage specialist John Rodriguez notes that the demand for such services has really increased among clients.

“You see, it is important to decide what exactly you need a yacht for. Determine the vector clearly - you want to buy a yacht and immediately sail across the Atlantic, or you are going to spend a couple of hundred hours creating a dream boat before going to sea. 

Only after that, look at specific models. Study the question in more detail. Chances are good that the yacht you bought is generally picky about upgrades. Think this moment too. 

To put it bluntly, it will often be faster to buy a yacht and modify it with “sandpaper” than to buy a new one. And less costly in terms of initial investment.”

Launching the yacht

Some yachts look like Victorian houses - you need to know specifically not only what, but also how to add and improve. Therefore, sometimes it is worth asking for advice from knowledgeable people. 

It is worth mentioning the fact that the younger the boat, the easier it is to upgrade it. Many of the used boats are modern enough to be easily upgraded, such as wiring or replacing the engine. Older boats are more finicky. 

Alex Grabau also confirms that younger yachts are easier to upgrade. “Many yachts that have been in service for 10 to 12 years are already equipped with quality wiring. This generally makes it easier to install the latest generation devices. "

What can be replaced and what to prepare for?

Often the yacht owners themselves decide to “freshen up” the boat before the sale. This is done in order for the yacht to appear at its best. It will not necessarily be a deep modernization. 

It is likely that the sails will be replaced with new ones, the rigging will also be updated, some of the internal devices (refrigerators, air conditioners, batteries), etc. will be replaced.

Such improvements will benefit the yacht. Again, it is best to take an experienced yachtsman with you, who will help you in choosing and tell you where the modernization was really needed, and where it was done “just to be”.

Used boat costs

For insurers, the age and condition of the rigging is a critical issue in the budgeting process. “Quite often, owners say that standing rigging is okay, even if it's already 20 years old. In the case of running rigging, some parts need to be changed every five years; this, too, is often overlooked. 

Insurers are aware of this and do not offer insurance coverage. Therefore, immediately consider that the used rigging needs to be replaced. These are costs to consider, ”explains Marine Surveyor Ben Sutcliffe-Davis.

What else should you pay attention to?

When determining the cost of a used boat, you should pay attention to the following points:

- Teak decks. As teak prices are higher than ever, replacing it is now very expensive.

- Kingston and Deadwood. Kingston is constantly exposed to the marine environment. Replacing all of them at once will save time and money at this age.

- Technology. Many yachts are equipped with outdated satellite phones, SSB radios or outdated navigation technology. Parts can be hard to find, so consider replacement cost even if you're happy with what's already on board. It is better to update such equipment so as not to get into a mess. 

- Sails. Are they fit for purpose or do they need replacement?

In this Saturday post, we covered a few points to look out for when buying a used yacht. We hope this post was helpful to you! Fair wind!

11.12.2021