With such a variety of new and pre-owned yachts available on the market, navigating the selection and purchase process of a yacht for you and your family can be a challenging one. With so many parameters involved, it’s always wise to leverage the experience and knowledge of an experienced yacht broker. But that doesn’t mean you can’t begin your own process with some important questions to ask yourself and a few parameters to consider. We encourage you to walk through some of the considerations outlined in this article, then contact our yacht brokerage team to take the next step.
In this article, we’ll go through a solid, initial process for you to walk-through as you begin the consideration of a yacht purchase. While we’ll touch on a few different factors, we’ll pay special attention to the size of the yacht since this is such a major component of the yacht purchase process. What’s the right size yacht for you and your family? How much yacht do you need? Let’s get into it.
When determining the right yacht to purchase, we undoubtedly begin with the question of what do you plan to do with the boat. Your projected use cases on the water will lead to the first narrowing of potential options. Use cases such as fishing, cruising, etc. tell us the type of yacht to consider. This is step one.
WHAT SIZE YACHT?
From there, we get into a few questions that will lend to the size of yacht you’ll need. The first is how many people do you need to sleep on the boat? It’s common for potential buyers to respond with something such as “I really would like to be able to sleep three couples comfortably.” This leads to the follow up question of whether twin bunks in a third stateroom are sufficient or not. Typically an entry level yacht with three staterooms is going to be in the 47-48 foot range. For example, the Absolute Fly 47 has three staterooms; as does the Absolute Navetta 48.
After nailing down sleeping needs, we’re not done addressing spaciousness. When viewing potential yachts in-person, buyers will often discuss the seating options and spaciousness of the main deck area, so it’s worthwhile to get a head start on this discussion. Some buyers want multiple defined seating zones on the main deck – typically a salon seating area and a dining space. To obtain multiple seating areas, you’ll need to get a yacht closer to 60 feet in size as yachts around 50 feet in size will typically only have the one seating area.
This difference can be seen quickly when comparing the main deck layout of the Absolute Navetta 48 (left image below) vs. the Absolute Navetta 58 (right image below). Both interiors are quite functional and beautifully styled, but of course, the larger, 58 foot yacht offers additional seating.
Of course, no yacht purchase process is complete without discussing budget. It’s not unusual for a couple to strongly prefer the additional spaciousness available on a 60 foot yacht compared to the 50 foot model, but be constrained by budget. It’s at this point where the buyer must consider whether they are comfortable buying a pre-owned yacht. While obviously these estimates can vary widely depending on a myriad of variables, buyers can consider the following price ranges for a new yacht purchase: $1.3 – 1.8 million for a 48-50 foot yacht, $2.2 – $2.6 million for a 55 foot yacht and $3 million and up for a 60 foot yacht. If your planned budget is conflicting with the size yacht you desire, it’s time to at least consider a pre-owned yacht.
The yacht buyer that emphasizes functional utility compared to being driven by the excitement of having a yacht with the latest style is often more comfortable with a pre-owned yacht. This buyer knows what he or she needs from a practical standpoint (e.g. three staterooms, a flybridge, and plenty of seating for entertaining and guests) and these needs drive the process.
Some buyers, however, struggle to move past the feeling that a particular pre-owned yacht might feel a bit dated from a style perspective or place more of an emphasis on the concierge service that comes with purchasing new. Neither approach is wrong, and at the end of the day, the yacht selection and purchase is highly individual and personal.
Style always comes into the decision process even for the most function-obsessed, practical yacht buyer. While all high-end yacht manufacturers build beautiful boats, there’s indeed a difference between a European styled yacht and an American yacht. Many European yachts such as Absolute and Sunseeker exude an exciting, sleek style whereas an American counterpart might be a bit more demurred in its style.
Recently, at a boat show, a client was touring a gorgeous new 60 foot Sunseeker yacht and remarked, “This is an adult boat.” She could hardly contain her excitement over the look and feel both inside and out of this vessel. For some buyers, the high style of a European sport yacht is an emotional experience that trumps other factors.
While nearly all buyers can begin with this set of parameters for consideration – things like sleeping needs, seating areas, budget and new vs. pre-owned – we can’t emphasize enough how important it can be to partner with the right yacht broker. While our team at One World Yacht Group is a licensed dealer in new Absolute, Riviera, Sunseeker and Belize yachts, our singular focus is on matching the right yacht with the right buyer regardless of make or model. Our mission is to build relationships with buyers that last years, and there is no better starting point for that relationship than assisting you through the process of finding the perfect yacht for you and your family.
Do you need assistance in determining the right size yacht or the right yacht to purchase? Contact our team today.