Five things to consider before buying your first sailing yacht
Posted on 21/ 07/ 2021
In collaboration with SuperYacht Times | Words by Rebecca Smurthwaite
A broker doesn’t just simply help you buy or sell your superyacht, but also sources the best possible yacht for your needs, can negotiate prices, draw up legal documents and most importantly, give you expert industry advice. A knowledgeable yacht broker is there to make sure the buying or selling of your yacht is an enjoyable and carefree experience.
- The broker will help you best defining your dream superyacht.
- The broker is an expert. On a global market made of unique superyachts.
- The broker supports the build process for his client’s best comfort from A to Z.
- The broker guides his client after the delivery to ensure best experience.
Why is it important to use a broker especially for first time superyacht owners?
Perhaps you have been invited on a friend's superyacht, or even dipped your toes in the water of chartering, and now you feel like it is time to buy your own. Jeremy Comport, Senior Sales Broker at Ocean Independence, explains why it is essential to go down the brokerage route, “The broker should help to crystalise the general thoughts of what a client will expect from the yacht in terms of facilities, amount of interior volume, deck space, and the type of tenders and toys they would like to carry. Of course, also understand the areas of intended operation and get some idea of the styling for the exterior lines – plus where the interior is concerned.”
Richard Lambert, Senior Yacht Broker at Burgess, adds to this, “If you’re speaking to a broker and give them specific requirements, they will be able to narrow down a selection of 50 yachts, down to 15 yachts, that they may feel are right for you. It is going to save you a huge amount of time – and time is very precious – and ensure you are getting the right advice.”
How can a broker help me buy my dream superyacht?
Oftentimes clients are unsure where to begin and this is where the expertise of a broker comes in. Ben Ritchie of the Y.CO Sales Team states, “With a vast array of yachts available for sale, varying in size, build quality, age, condition and price, an experienced broker will not only help you define your needs, but can also guide you through the selection process as someone who knows the market.” He continues, “Once you have found a target yacht, your broker will be able to perform an in-depth analysis of the market, studying what other yachts have sold for and will use this to give you informed, impartial advice on the true fair market value.”
My broker works for me. I have to help him defining my needs.
Brokers must build a close relationship with the client to better understand their requirements. Felix Sowerbutts of Y.CO remarks, “I recall inspecting a yacht on our client’s behalf that was almost perfect for him. It ticked all the boxes apart from one - the ceiling height in the main saloon was quite low, far too low for our rather tall client! Sometimes these trivial details are what make all the difference: he might have travelled across Europe to view something which was completely unsuitable. He finishes, “Of course, yacht shows are golden opportunities to view multiple options in one setting, but the key benefit of them is the conversation, communication and feedback between client and broker.”
Why would I need a broker after the purchase and delivery of my superyacht?
After the purchase and delivery of the superyacht, many questions remain. “I think the professional broker comes into his own once the order is signed,” comments Comport of Ocean Independence. “The broker supports the build process by liaising with the clients and the designers, build supervision team and shipyard, to ensure that all parties are all working towards the common goal of satisfying what, let's face it, are generally very demanding clients, who are used to getting what they want.” He remarks, “Often the broker will continue to guide the owner with various aspects to ensure continued enjoyment of the yacht.”
Irini Blagodyr, Head of Bluewater Russia, adds, “I strongly believe that if a client builds a long-term, close relationship with his or her broker, then they naturally become the go-to person to assist in navigating the waters of the yachting world. As a broker lives and breathes this world on a daily basis, he or she is on top of the latest news… and will always give added value in all things yachting.”