What to consider before buying a (used) yacht

Owning a yacht can be considered the pinnacle of luxury because not only is it a significant investment, but is usually reserved for the exclusive and high-class with deep pockets. In terms of size, some aren’t that big while there are some that equal the length of a soccer pitch.

It goes without saying that you need to be pretty rich to be able to afford one – and that excludes the routine maintenance that comes with it. There are a few things to note about buying your first yacht and what the ownership requires from you.

Consult with a yacht captain or a yacht management to learn more about popular terminology and how to handle a motor yacht or a sailing boat. The last thing you want to do is get yourself into a situation whereby you get taken advantage of by not knowing anything about the product i.e yacht.

Gumtree lists some of the most important points to keep in mind before buying a (used) yacht:

Know the prices – One of the most helpful tips for buying a yacht is to understand how much it is likely to cost. Mass-produced models tend to be cheaper, while semi-custom or full custom ones is well into the six-figure region.

Learn the basics – Speak to someone who currently owns one and ask them about ownership. By grasping the fundamentals, you will no longer be a gullible buyer susceptible to deception which is frequent when it comes to buying and selling.

Take it for a sail – Just like you would do with a vehicle, a sea trial is to check the vessel’s systems, engines, generators, electronics, and other components that need to be running in order to be inspected.

As a precursor and to provide a possible measuring stick for the market, these are five of the most expensive yachts in the world:

  • Rising Sun, David Geffen – total cost $590-million
  • Seven Seas, Steven Spielberg – total cost $200-million
  • Main, Georgio Armani – total cost $76-million
  • Maraya, Puff Daddy – total cost $65-million
  • Privacy, Tiger Woods – total cost $20-million

Now that you’ve got the knowledge, it’s time to shop! Head to gumtree.co.za or your Gumtree app (click for Apple & Android) and don’t forget to use your location settings to find local service information close to home.

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