Buying a yacht is a huge decision with many things to consider (what make to buy, where to buy it, what yacht insurance coverage will be required, your wish list of accessories). One of the biggest questions people wrestle with is whether to buy new or used.
Obviously, the benefits of buying a new yacht include reliability, quality (everything is showroom new), and a manufacturer’s warranty to safeguard against repairs in the first few years of ownership. But is paying full price always the best option?
Buying a pre-owned yacht can be a good decision, and not just because you’re not going to take a big hit in depreciation as soon as you take ownership.
Here are tips for buying a used yacht shared by our yacht insurance specialists: