BLOG: The Expert’s Guide On Picking the Best Used Yachts for Sale

The Expert's Guide On Picking the Best Used Yachts for Sale

Read Time 15 mins

Published on December 11, 2023

Looking to shift your perspective from a novice to a yacht connoisseur? If so, you’re in the right place.

Investing money into large avenues such as yachts can be exhilarating, you might feel tingles all over as you embark on the journey to create waves in the sea with your new comfortable sea home. However, it is also incredibly important to ensure you make the right decision when you buy a yacht- since the process can be quite time-consuming and oftentimes burdensome.

Don’t worry, we’ve got you covered, keep reading on to discover how you can pick the best-used yachts for sale.

Researching Prospects

So, now that you’ve decided you’re going to buy a yacht, the first and foremost thing you are going to have to do is research the market. What kind of a yacht do you want to buy, what your price range is, and how much of a credible source your broker is?

All that research will help you figure out what direction you want to go in when you finally buy your yacht. Lucky for you, we’ve compiled a list of sources where you can harvest all this data.

Online Sources

Yacht World:
Founded by Jessica Muffet, Yachtworld has been launched as the first online business that promotes yacht brokers’ boats to people on the internet. It gives them access to various online marketing services paired with the world’s largest multiple listing services with more than 2,900 yacht brokers and 70 manufacturers worldwide. It also provides services that offer specialized online advertising and marketing solutions that are tailored to your specific needs. You can even look for yacht loans on their website!
YachtBroker:
YachtBroker helps you find the right yacht broker, giving you an expansive listing of more than 20 different types of yachts and 146 manufacturers! They have the best-used yachts for sale, and their website caters to your every need, going down to the last detail.
Social Media and Yacht Groups:
Now, this is something you may have to deal with at your discretion. Sourcing a yacht through social media- be it Facebook Marketplace, Instagram, or any other viable platform, is risky but you may also be able to find good deals and even make connections!

Therefore it is important to ask the potential seller all the right questions, see if they know what they’re selling, ask for good quality pictures of your purchase, and make yourself a hundred percent certain before you go down and meet them.

Offline Sources

Local Yacht Dealerships:
One of the best ways to get hands-on knowledge about yachts is by going down to your local yacht dealerships. Looking at the prospective yachts in person will help you understand a lot more about what your preferences are, and how much you’re looking to spend, and you can even get good deals for used yachts for sale. One such local dealership in Fort Lauderdale is Allegiance Yacht Sales, a service dedicated to providing the best yachts for sale.
Boat Shows and Yacht Exhibitions:
Boat Shows and Yacht Exhibitions are yet another great way to get personalized knowledge and view potential yachts which you may want to buy. Through such events, you may even meet other potential buyers and gauge an understanding of the market and the best choices for yachts. Major events like the Miami International Boat Show and Fort Lauderdale International Boat Show feature multiple luxury yachts for sale.

The Scouting Process

Congratulations, you’ve found yourself in a heap of data surrounding yachts and potential yacht brokers. Now you want to know how you can cut down all the extra details so you can make an informed choice regarding your investment. Here’s a systematic program on how you can do that;

Set Your Budget:

While you research, make sure to create a price bracket for yourself; from the cheapest yacht to the most expensive one. Whether you’re exploring yachts for sale under $100k or considering more substantial investments, it’s crucial to determine your budget and position in the market. Look for the cheapest but reliable sources, carefully choose a payment method, and ask for advice regarding your purchase from an expert in the field.
Clarify Your Needs and Preferences:

When you think of a yacht, what kind do you want it to be? Are you looking for luxury, adventure, or comfort? Think of these ideas when you’re researching. Make sure you make a list of your must-have features, your yacht’s size, type, and specific amenities. Also, go into detail regarding your yacht’s specifications.
What year was your yacht manufactured?
What is the engine type?
Are there any added features?

Make sure to answer all your questions before you move on to the next step.
Make a Shortlist of Prospective Brokers:

In addition to reviews and word-of-mouth, your intuition will tell you whether or not to trust any of the many yacht brokers and sellers in the market. Find out which options are the best by asking people you know who have made similar purchases in the past. Which brokers best suit your preferences and which look the most promising? Jot down thorough explanations of each of your options. You’ll find this useful later.
Location and Inspection:

The location of your yacht is one of the most crucial factors; find the site that works best for you. Make plans to visit the yachts in person so you can quickly determine whether you like the boat, its fit and feel and whether you are certain that you will choose it. You could see how your yacht performs at sea by taking advantage of the sea trials that some yacht brokers even offer. You can evaluate the yacht’s handling, seaworthiness, and condition further. Examine the yacht’s maintenance history and look for any warning signs, like accidents or neglect, that could be detrimental to your vessel.
Finalize your selection:

The last phase involves contacting the seller or yacht broker, getting more details, and even haggling over the price. A lot of brokers provide you with helpful information about the buying process, which can be very beneficial. When you’re finished, you’ll be prepared to submit an offer and possibly purchase your dream sea home. However, you have to keep in mind that this is a long and cumbersome process, you need patience and hard work to ensure you’re making the best decision. However, if that seems too much for you, you can always look for the best-rated brokers, they will cut down that exercise for you in half.

Understanding Yacht Brands, Types, Designs, and Functions

Though you’re sure you want a yacht, are you sure of what kind? Like many other things, yachts come in a wide variety of styles, each ideal for a particular purpose. This is where your tendency enters the picture. What kind of boat are you looking for? What dimensions, features, and shapes do you need?

However, if you’re unfamiliar with them, continue reading to learn more!

Types Of Yachts & Brands:

Sailboats and Motor Yachts:
Sailboats and motor yachts are the two primary types of yachts. Compared to motorboats, sailboats are smaller and better suited for global cruises and exploration. Motor Yachts, on the other hand, are larger, faster, and more luxurious. When compared to motor yachts, sailboats are significantly quieter, allowing you to enjoy your time at sea without having to listen to the droning sound of an engine, they provide you with a more tranquil and traditional sailing experience because they are propelled by the wind. On the other hand, motor yachts are propelled by engines and offer convenience and speed.
Superyachts and Mega Yachts:

If you’re more about the luxury and the lush feel of yachts, you can always opt for Superyachts and Mega Yachts. These yachts present you with the pinnacle of luxury. Super yachts are used for pleasure, with a full-time crew and captain on board. There are very few differences between the two, lest for the length and gross tonnage.

A multitude of well-known yacht builders produce boats with distinctive features and designs in each of these categories. Brands that are praised for their excellence and inventiveness include Sunseeker, Azimut, Beneteau, and Hatteras.

Different Uses of Yachts:

Charter Yachts:

Picture yourself reclining on a lush, comfortable deck chair, basking in the gentle warmth of the sun. Here, amidst a world of serenity and tranquility, where your cares and concerns melt away, charter yachts beckon as your trusted companions. Chartering a yacht opens the door to a world of possibilities, whether you seek privacy for a secluded voyage or the adventure of a commercial escapade.
When you embark on a yacht charter, the experience is entirely yours to shape. You can choose the privacy of a family or friends’ getaway, explore diverse islands, and relish the lap of luxury at sea. It’s the perfect recipe for a vacation that is as opulent as it is adventurous, allowing you to create cherished memories that will last a lifetime.
Cruise Yachts:

Cruise yachts are specifically designed for you to enjoy journeys on the open water, offering you comfortable cabins, and dining areas, as well as amenities for any extended trips. Beneteau First 36 is one of the best cruise yachts, which puts your focus back into sailing and gives you the luxury you need.
Another best-performance yacht is the Solaris 50. It is built with a slight lean which allows it to travel faster, making it fun to steer. The rooms made for lodging are comfortable and there is a lot of space for you. It can be a great choice for you if you love the feel of steering your yachts.
Sportfishing Yachts:

If you’re an avid angler or love fishing, these yachts are built for you. They are specially equipped with fishing gear, and bait wells, and have spacious decks for your angling adventures. These yachts also have overnight accommodations and protected helms and are great for harsh sea conditions.
There are various types of Sportfishing yachts, some of which include;
Convertible Yachts
Flybridge Yachts
Express-style Sportfish Boats
Sport fishermen
Custom Carolinas

If you’re keen on adventure and fishing, then these yachts are made for you.

Broker Engagement and Legal Formalities

As previously stated, yacht shopping is a meticulous business! You would have to sacrifice a significant portion of your daily activities to research the market and make the best possible decision while also remaining safe. That is where yacht brokers come in. They have in-depth experience in this industry and they will be dedicated to helping you find the best yacht. Here are some benefits of working with a broker in helping you find your dream

luxury yacht for sale:

Expertise and Knowledge

Yacht brokers are seasoned experts with a wealth of knowledge in the buying and selling of boats. They are well-versed in the latest inventory and trends and possess a wealth of knowledge. They will provide you with the best guidance on buying a yacht, covering both the legal and financial ramifications of the transaction. Brokers are informed about the state of the market, comparable sales, and current pricing trends. This information improves their ability to advise you on fair market value and helps you make financial decisions.
Extensive Network

Yacht brokers have a wide range of contacts, including industry insiders and sellers who will have the highest caliber boats on the market. They can put you in touch with sellers who might have exclusive listings, and you can learn more about opportunities and market trends. They also excel in negotiations and they will secure you the best possible price and terms for your yacht.
Legal Expertise

Yacht brokers are also knowledgeable about the financial and legal ramifications of owning a boat, such as insurance, registration fees, and taxes. There are various legal nuances and a substantial amount of paperwork is involved in yacht transactions. However, because they are knowledgeable about these facets, brokers will make sure that all agreements, contracts, and paperwork are handled appropriately and by the law.
Although purchasing a yacht is an exciting new endeavor, there will be many obstacles to overcome and a very stressful journey. But when you work with a broker, they take care of those hiccups and make the trip exciting and stress-free. What’s even better is that after a sale, yacht brokers can help with transport, maintenance, and upgrade coordination, as well as ongoing maintenance and service recommendations.

Guarding Against Pitfalls and Scams

Ensuring your safety from potential scammers is paramount when acquiring yachts. Despite our best efforts to stay vigilant, scammers can sometimes outsmart even the most cautious buyers, leaving us vulnerable to financial losses and deceit. Here are some steps to ensure your safety while you purchase your new yacht.
Ensure that you look at your yacht with your own eyes. Make an appointment, go to your buyer, and inspect everything firsthand. Look up the pictures that the sellers use on Google, if it is recurring, there may be a potential scam.
Ensure that you’re always speaking to a human. Some sellers may correspond with you through email, but you must confirm their identity.
Use your payment method during the transaction. Many scammers like to deviate from you by asking you to send money through Western Union, which is a big red flag. Either pay with cash or your preferred bank system and if the seller is being insistent with fast payment, that raises a red flag.

Yacht Maintenance

Now that you find yourself to be the proud owner of a yacht, you need to treat her well too. Here are some of the ways you can keep your yacht in top condition:
Clean your yacht regularly with fresh water, this can help keep your yacht safe from dirt, grime, and build-up that will be corrosive to your vessel.
Be vigilant with your engine service, and ensure that you schedule a service once a year. During that time, keep an ear out for different noises or vibrations that might prove harmful to your yacht.
Inspect your fuel lines, almost four times a year. Make sure there isn’t any corrosion, and they are intact.
Check your oil level regularly, keeping an eye on the color of the oil. You should consult an expert if there are any changes in the color or if it turns milky.
Ensure that you have a Coastguard membership. Despite all your caution, you might end up with trouble on the sea, which is why you need insurance

The Role of Online Brokerages Like RodHolm

As we discussed earlier, brokers play a pivotal role in significant investments like yachts. Online brokerages such as RodHolm are your dedicated partners in the pursuit of your perfect yacht. Here’s how they make it happen:
You can access a plethora of knowledge at RodHolm, where knowledgeable boat experts offer priceless advice along the way to your yacht purchase. They provide you with individualized recommendations that are in perfect alignment with your desires at each step, all because their guidance is customized to your unique preferences.
Rodholm has an extensive listing, it features a wide range of yachts and gives you multiple varieties to choose from. This will allow you to find your perfect vessel at the best price.
Online brokers like Rodholm are dedicated to saving your time and handling all the extra work for you- from scouring the internet for listings to handling negotiations and paperwork.
Rodholm prides itself on its in-depth knowledge of legal formalities and documentation, ensuring smooth and legally compliant transactions. It also has up-to-date market insight and gives you the best data to make informed decisions on.

Conclusion

Buying a yacht allows you to transcend to a greater life of luxury and happiness, giving you access to easy private traveling, or full-blown parties and it’s all in your hand. Making a safe and informed decision should be high on your list of priorities, therefore we singled out some important points for you to consider before you embark on your journey.
We hope that it helped and that you have gotten all the knowledge you need to buy a luxury yacht. The process is, however, time-consuming, so you should consider looking into potential brokers to help ease the way.

FAQ’s

Q) What net worth do you need to buy a yacht?

If you’re considering a substantial investment in a high-quality yacht, a common benchmark is to allocate around 5 percent of your total net worth. For instance, if your net worth stands at $2 million, this would suggest that purchasing a $100,000 yacht is a financially sound decision.

Q) How old of a yacht should I buy?

A good measure for buying a pre-owned yacht is ten to fifteen years. In the end, it all comes down to how much you want to spend to restore the yacht to its original appearance and functionality, as well as the relationship between replacement cost and purchase price.

Q) What are the most reliable yachts?

There are multiple yachts from different designers which are dependable in the long run. We’ll list the top three for you;

Nordhavn
Princess Yachts
Sunseeker Yachts

Q) Are yachts a good investment?
Yachts boast a thriving secondary market and the potential to appreciate over time, rendering them exceptional investment opportunities. The world of yachts offers a remarkable avenue for growth and a promising return on investment, whether your aspirations involve upgrading to a more sizable yacht or simply selling your current vessel.

Q) Is 40 too old for yachting?
Age is just a number! We believe passion and adventure can be enjoyed at any age. So if you’re in your younger years or at a wiser age, you enjoy the best of the best.

Q) Is it expensive to maintain a yacht?
As a yacht owner, you should expect ten to fifteen percent of the purchase price as your maintenance cost, annually. The bigger the yacht, the greater your cost.

Q) Do yacht owners make money?
If you charter your yacht strategically, you can expect returns in a myriad of ways. Mostly, the charter profits only cover the cost of maintaining a yacht.