Updated on January 27th, 2024
Of course, the main goal of buying a used boat is to save money. And for experienced owners, this may be the best option, with a number of other benefits.
For example, a further reduction in the price of a pre-owned yacht will no longer be as sharp as immediately after purchasing a new one. At the same time, the previous owner could add new equipment or update the old one, as well as eliminate all the shortcomings identified during operation.
Of course, there is always a risk of hidden damage caused by accidents, careless operation or poor maintenance, so a professional surveyor is necessary. As well as having a maintenance log.
But the main reason to look for a boat on the secondary market is the incredibly huge selection of models of all sizes and modifications that are now out of production. Among them you can easily find excellent motor yachts, built according to the old canons of quality, pursuing the concept of excessive reliability, which will give odds to many modern boats just presented at the boat show.
Of course, in this case it is necessary to take into account the condition of the engine and all on-board systems. If a full refit has never been done and the engine needs to be replaced, the total cost may exceed the price of a comparable new boat. And if the surveyor or broker has confirmed that the chosen boat is fully ready for use, then this can be an excellent first step into the world of motor yachting.
However, the new boat gives a completely different feeling. After all, before you, no one lived in it, slept, or used a head or shower. It is absolutely clean and smells new. All on-board systems and the engine room are shiny and not stained with anything, making them very pleasant to service.
In addition, you do not need to worry about the condition of electronics and wiring, as well as hidden mechanisms, the condition of which is difficult to diagnose during inspection. Do not forget that a new boat has a warranty period, during which the manufacturer is obliged to correct any breakdowns that occur due to poor quality equipment or hull assembly.
Among the new models of motor boats and yachts, sometimes there appear those that you can’t help but fall in love with. For example, during the premiere at a boat show. This is also one of the times when you will want to buy a new boat rather than a used one.
Regardless of which boat you end up buying, don’t forget that this is not the end of the costs, as you will need to set aside an annual budget for its maintenance and unplanned repairs later on. And this is the case when size matters.