This is not going to be your regular buyers guide

Buying a yacht is an adventure. Like all adventures, there is the triumphant exultation of success but there is also the anxious excitement of the unknown, and sometimes, sadly, the bitterness of defeat. Ideally, a broker’s role is to ensure that the last never happens. The buyer should always know the full extent of the risks involved when making a purchase. Thus, here are 5 unbiased (really!) tips on purchasing the next vessel that you may never hear anywhere else.

Be patient

For both pre-loved and new boats, the seller is always going to be looking to close the sale. Don’t hold it against us, because that’s really our job, and like all jobs, we too have goals to meet. To the point then; when buying a more luxurious yacht, the process of choosing one is only the beginning. After that comes deciding on the options, which will take months, and then many more are needed to build the yacht to the exact requirements. And so, taking the extra time to really think through the seemingly unending options during the first phase will actually make the next phase quicker when no additional changes are needed.

Patience is even more important when looking at pre-owned yachts. It will take months of hopping on and off boats, speaking to different brokers and owners, arranging sea trials and more. Never buy a boat without feeling her and seeing how she performs at sea. After that, it will take more time to negotiate for the right price, and perhaps even a couple of months in the shop to touch up her paint or perform other works before she is ready.

You may be one of the few that finds ‘the one’ within the first viewings, but our advice is to prepare yourself for an adventure because it will take longer than you anticipate.

Perfection is a lie

This seems like a good advice for life in general as well. Even though we all have ‘the one’ in our heads, boats are complicated things, built to meet the needs of the boater. As such, the mythical one exists only in the realm of bespoke luxury, and even in this realm limitations exist. For most of the boating world however, compromise is the way to go.

Having a list of priorities in order of importance is key here. A yacht capable of blue water cruising means a more comfortable hull, but it will not get to places in a hurried manner. A craft with 3 cabins may mean a longer LOA, even though you want a smaller boat. Your own priority will mean compromise in other areas, especially when working with a budget.

And if nothing really meets your requirements, then consider the previous point. Rushing into a purchase is almost always a terrible idea.

You will make mistakes that are not actually mistakes

The priorities and checklist that seemed so important when you bought the yacht may not be relevant after actually using the boat for a season. This doesn’t mean you have made a mistake; this means that you are growing as a boater, and that your perceived needs did not line up with your actual needs of the vessel. For example, power may have been high on your list of priorities, but after a while the noise and speed may be tiresome to experience. Maybe you wanted a catamaran with its acres of useable space for large family outings, but you find that most excursions only feature your immediate family. How you wanted to use the boat may not be how you actually use it.

Of course, a lot of this can be mitigated with realistic deliberation. The purchase of a yacht is very much driven by the heart – boats are romantic after all – but cold logic also has a role to play here, so balance both accordingly.

There are no dumb questions

This advice is especially for those buying pre-owned boats. With information at our very fingertips these days, prices of boats can be easily cross-referenced, along with most of their specification. It does seem like you’re armed when you walk into a viewing, but don’t show it. Instead, ask questions. Ask all the questions. The seller is always going to want to sell, and any used boat will have a history. Has the engine been serviced recently? Ask to look at the service records. Where do you service her? Any recent pictures of the hull? And so on.

Appearing to know too much may make the seller wary of you, and it may have the backfiring effect of making the buyer ‘paiseh’ (the local lingo for shy or ashamed) to ask dumber questions. There are no dumb questions as it may save you from a painful purchase, or at the very least you’ll know exactly what you’re in for.

However, you can always opt to get professional advice, which brings us neatly into our final point.

Trust the professionals

Of course we will say this, right? However, we truly mean it. Engage independent marine surveyors to have an objective assessment of the craft. Engage different brokers to feel us out and get to know us. You should spend your hard earned money where you are most comfortable, after all. Unlike the seller, who will be eager to pass a problematic craft along, a broker like Pen Marine thrives on word of mouth and ongoing relationships. It’s simply not good for business if we were to sell boats dishonestly, so rest assured, brokers too have a stake in giving you the best experience and the best boat possible.

Dealers are necessary as well when considering new yachts. We will be able to show you multiple options with varying specifications that would meet the buyer’s requirements, and have detailed information that is not readily available on the internet.

Seems absurdly simply when we write it down like this, doesn’t it? It may not be so when you go on your very own search for the one, and even though this article is a lot of words to say ‘be careful!’, buying a yacht is ultimately fun. Mistakes or not, there is something to be learned, and we’re certain that these advice will be helpful in your search. As always, our doors are always open for conversation so get in touch with us if you’re looking for your dream boat.