buy a boat or a yacht

How Much Does It Cost to Buy a Boat Versus a Yacht?

• For a boat to be a yacht, it has to carry certain features, and it's more expensive than other boats.

How Much to Buy a Boat v. a Yacht

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While owning a boat can provide a sense of freedom and excitement that no other form of transportation can offer, it's not without costs— they can be more expensive than you anticipate, and not just at purchase.

Key Takeaways

• The average purchase price of a 20-foot boat is between $10,000 and $60,000.
• Ongoing maintenance and other costs make boat ownership more expensive than many anticipate.
• While not necessarily a good investment, boats provide other benefits that make ownership worthwhile for many.  

Getting out on a river, lake or ocean in your very own vessel can be a dream come true.

But while owning a watercraft can provide a sense of freedom and excitement that no other form of transportation can offer, it's not without costs. In fact, boats can be more expensive than you anticipate, and not just at purchase.

Here is the difference between a boat and a yacht, and how each can come with a vast array of associated costs.

What Is the Average Cost of Owning a Boat?

The first cost associated with a boat is the purchase price. Fish and Ski Marine, a Texas-based boat dealership, reported the average purchase price for a new 20-foot boat in 2023 was between $40,000 and $60,000. If you bought the same vessel used, it would be between $10,000 and $20,000.

Boats come with other upfront costs besides the purchase price. Unless you'll be buying with cash, you'll finance the boat purchase .

The typical down payment is between 10% and 30% of the purchase price, and 15% is typical. According to Boat Trader , the average loan interest rate is between 7% and 10%, depending on your credit score, age, the type of boat and the economic climate.

You'll also need to register your boat and pay the sales tax, which may be added to the purchase price.

Fish and Ski Marine reports the annual cost of owning a standard fishing or pleasure boat typically ranges from $3,000 to $7,500 per year. This includes trailers, insurance, storage and marina fees, maintenance, fuel, education and licensing fees, and equipment and accessories.

What Makes a Boat a Yacht

Boats come in a vast number of varieties, from those that don't have motors, like sailboats and catamarans, to those that do, like cruisers, speedboats and yachts. And while all yachts are motorized, for a vessel to be considered one it must have certain characteristics, including:

• Minimum size . In general, a boat becomes a yacht when it is at least 33 feet long.
• Recreational purpose . Boats can have a wide variety of functions, such as sailing, fishing and business, but yachts are designed for comfort, entertainment and pleasure . 
• Luxury features . Yachts usually have spacious staterooms, complete kitchens, several heads (bathrooms) and other living spaces. After that there are countless extras, from pools and hot tubs to multiple dining rooms, bars and even helipads. 
• Sufficient power . Compared to other types of boats, a yacht's engine should be powerful enough to travel far distances. 

The Bigger the Yacht, the Higher the Cost 

For yachts, size is a major factor in the purchase price. Per Galati Boat Sales data , the average costs in 2023 were:

• Small (less than 50 feet): $500,000 to $2.5 million
• Mid (50 to 70 feet): $2 million to $6 million
• Large (70 to 90 feet): $6 million to $15 million or more
• Super (90 feet and longer): $10 million and more
• Mega (165 feet and longer): no average, but $600 million was a current going price 

Jim Burns, yacht broker with Knot 10 Yacht Sales in Granville, Maryland, says there are many factors that go into the cost of yacht ownership.

“Keep a boat in your driveway and it won’t cost much, but if it's in a marina slip, you’re paying for that,” Burns says. “The bigger the boat, the higher that cost will be. Everything is done in feet, and all the marinas vary.”

For example, at the Kona Kai Marina in San Diego, the range is $28 to $60 per foot based on boat length over all (LOA) or slip LOA, whichever is longer. At the Cooper River Marina in South Carolina, long-term dockage is $15.25 per foot.

Boat and Yacht Upkeep Costs

Once you have the vessel, you’ll have to ensure it remains in proper working order. Time spent on the water is a major factor in how much it will cost in maintenance.

“You’re putting a ton of stress on the boat, just from the wear and tear,” says Yosef Shimels, co-founder of Destiny Yachts, a Miami-based private luxury charter company.

“You’re utilizing the AC, the water pump and the generator. Anything can go out at any time. We have to keep reserves for unexpected maintenance costs. I learned that something will go out, and more frequently than I expected,” he adds.

Trish Taylor co-owns Fire Drill Charters, which operates on Lake Michigan, with her husband, and she has a warning.

“There’s a saying that 'BOAT' stands for ‘break out another thousand’ and that’s not just one time, but over and over again,” Taylor says.

“And it’s true. Most people have no idea of the upkeep on boats. Boat ownership is different from owning a car. They simply don’t know what they don’t know,” she says.

Be on the lookout for the cost of regular oil changes, fuel filters, adding necessary technology and storage fees.

To reduce the monthly costs of keeping the boat in a slip (if it’s too long to keep in your driveway), you may consider taking it out of the water and paying for a storage space. Burns says $200 a month is typical, but it ultimately depends on the size of the vessel.

If you can’t find covered storage, you may have to pay to have the boat shrink-wrapped so it’s protected against the elements. That too, can set you back. For example, at Michigan’s Pier 33, wrapping a boat between 34 and 35.11 feet will cost $805.

Are Boats a Good Investment?

“Boats generally lose value after purchase,” Burns says. “If you buy one for $100,000, know that you’ll never sell it for that.”

But what you put into the vessel as well as the type can help keep its value or even increase it.

"We own a 1993 Tiara Yacht we bought eight years ago,” Taylor says.

"Because of the tech and performance upgrades as well as a sought-after style that’s not made anymore, it can go for double what we bought it for. Buyers recognize well-maintained boats that have been upgraded to make the boating experience even better,” she adds.

Is Buying a Used Boat Worth It?

“In most cases a used boat is a phenomenal option,” Burns says. “For a 43-foot yacht you may pay $43,000 because it's 25 years old. To buy a new one it can be millions.”

Do make your purchase through a qualified broker, though.

“Private sales can be risky,” Burns says. “It's like buying a used car from a person online. As a broker we go through a process and handle all the transactions so the buyer gets a legal boat, and in a condition that’s acceptable for their intended use.”

It’s especially important to buy a used boat with the assistance of an expert if you're a first-time boat owner.

“If you don’t, you won’t know what to look for,” Burns says. “What’s underneath the shine? These things can cost tens or hundreds of thousands of dollars. It could be rotted out from moisture, and a fix could cost $30,000."

Pros and Cons of Owning a Boat

In the end, there are many reasons to have a boat or yacht of your own.

“They are pleasure crafts, so it's tough to put a price tag on being with your family, hanging out at a really good marina and having fun,” Burns says.

Shimels says chartering the boat out helps cover costs and provides him with residual income. "It’s also a tax benefit , because I can write off the depreciation,” he says.

As for the disadvantages, they include the unpredictable costs. “We just had an unexpected repair,” Shimels says. “A generator just went out, and it was $10,000.”

Finding the right people to help keep the boat or yacht in good working order isn’t always so easy, either.

“You have to find a good mechanic, someone to do the cleaning,” Shimels says. “There’s a variety of people you have to rely on.”

Finally, not everyone can handle the money and stress of boat ownership, and that’s OK.

“We’ve had customers who sold their boat and simply do multiple charters with us,” Taylor says. “All they do is walk on, fish and pay us. They love it. No cleaning or upkeep anymore for them.”

How Much is a Private Jet? 

Erica Sandberg Nov. 15, 2023

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Yachting Monthly

• Digital edition

How to buy a boat: your guide to buying a yacht

• Duncan Kent
• October 17, 2023

Buying a yacht, especially your first, can be a daunting experience. Duncan Kent offers expert guidance on how to get it right

The process of buying a sailing yacht can sometimes be long-winded and stressful, especially if it’s your first time considering boat ownership. To avoid it being too daunting the first step is to think the whole thing through very carefully and then make a proper plan.

First and foremost, decide what type of sailing you will actually do, as it will be an important indicator as to what size and type of boat you should aim to buy. If you’re still learning to sail then it’s advisable not to buy too big a boat as the bigger it is the more problems and costs you will acquire. It’s often better to buy a used boat that you can practise in and make mistakes on, as accidents can be expensive in a bigger, more valuable boat.

What type of boat?

A trailer-sailer will save on marina fees and can be big enough for cruising. Photo: Graham Snook

Trailer-sailers

Key factors to look for in a trailer-sailer are size, weight and ease of rigging, launch and retrieval. Trailer-sailer masts are usually designed to be raised manually using an A-frame and tackle, and in many cases these will be provided with the boat. Being launched from a trailer means that it will most likely have a retractable keel and rudder, as well as a removable outboard motor.

Although it is possible to trail a small bilge-keeled boat, they are almost impossible to launch and recover without a crane, given the depth of water required for them to float on and off. If you’re planning on sailing with the family, bear in mind a retractable keel, whether it lifts or swings up, will nearly always impinge on the cabin in some way.

Above 750kg/16ft LOA you will need a larger (possibly four-wheel) trailer, with a more powerful towing vehicle and a few extra crew to help you rig and launch. In return, though, you’ll have a boat that you can live aboard in reasonable comfort for long weekends, or even the occasional week-long sailing trip.

Ideally, a cruising trailer-sailer would be no more than 24ft long and 1,500kg dry weight all up. If you’re going to be coastal cruising over long distances, however, you’ll probably prefer something bigger like a ‘trailer-able’ boat. These can be craned onto a larger, double-axled trailer and taken home or stored somewhere inland for the winter, saving marina berth costs or boatyard storage rates.

Not only does this make good economic sense, but it could also enable you to tow her to a new cruising destination each season. Probably the largest boat you could self-trail would be around 28ft, depending on its weight, beam and size of the towing vehicle.

Inshore sailing makes sense in a capable, affordable yacht like the Westerly Centaur. Photo: David Harding

Inshore/Coastal cruisers

Calling a yacht an inshore or coastal cruiser can be somewhat misleading, but since the EU introduced the RCD ‘Category’ system, the designations seem to have stuck. To my mind, any yacht that is seaworthy, properly maintained and has a skilled crew, is very likely to be capable of being sailed pretty much anywhere. A larger yacht may be more comfortable at sea and able to take on more crew and provisions, but a seaworthy boat should be just what it says.

If you plan to simply potter along within sight of land, stopping overnight in a sheltered anchorage or in a marina berth, then it obviously isn’t vital to have a boat that can withstand a storm at sea. You will rarely, if ever, experience storm conditions when you’re never more than a few miles from a safe refuge. That said, some still prefer an ocean-going yacht for coastal cruising ‘just in case’, and there’s nothing wrong with that, provided you can afford the extra maintenance and running costs.

Some experienced sailors swear by lightweight, high-performance yachts for coastal and offshore sailing. There’s a certain logic to this in that a quick boat stands more chance of reaching shelter before the worst of a challenging weather system hits.

My ideal coastal cruising yacht, however, is a compromise between a boat that’s reasonably fast and fun to sail, and one that can withstand the occasional Force 8 and 3m-high waves without frightening or risking the safety of my crew or family.

An Arcona 345 is a highly capable offshore yacht, but probably isn’t large enough be a true ‘bluewater’ yacht. Photo: Richard Langdon

Offshore/Ocean yachts

A true offshore/ocean-rated yacht will be strong, seaworthy and safe but, equally, it should exhibit a sea-kindly, predictable and well-balanced motion at sea, such that the crew remain able to sail, cook, eat and sleep regardless of stormy sea conditions.

What makes a yacht sea-kindly? First and foremost is its motion through, or over the waves. Many modern, lightweight yachts with flat, shallow underwater sections tend to slam into oncoming waves rather than slice through them. This not only jars the crew’s nerves and hurls everything out of the lockers below, but it also puts increased strain on the entire yacht as each thud shakes the hull and rig relentlessly on a long windward passage. Slamming doesn’t just test the integrity of the yacht to its limits, it drags the crew’s morale down and prevents them sleeping, cooking, eating or relaxing while off watch.

As with most aspects of sailing, there are many different schools of thought with offshore yacht design, but it is generally accepted that ocean-crossing yachts should be of a higher displacement than coastal cruisers and that they should have a deeper, vee-shaped forefoot to enable the hull to slice through oncoming waves.

A so-called bluewater cruiser is simply an offshore/ocean cruising yacht that has provision for living on board for extended periods of time under a wide variety of different circumstances. Usually, they will be better equipped with items like watermakers, generators, freezers, solar panels and sat-comms, but the style and design of the yacht itself will mostly be identical to an offshore/ocean-class yacht.

Stowage is an overlooked but vital consideration when assessing a cruising yacht. Photo: Graham Snook

What to consider

Accommodation.

Does the boat you’re looking at suit the style of sailing you plan to do? If you’re only going to day sail along the coast then don’t worry about sea berths, for instance, although it’s useful to have at least one long, straight berth you can fix a lee cloth to in case someone becomes ill. Big, central double berths are great at anchor, but of little use under sail.

Separate cabins are crucial if you have kids on board, so as not to keep them awake in the evening when the adults are still up. Private heads are important too, particularly if you are planning to have friends on board regularly.

Stowage is also a vital consideration for cruising that new buyers often overlook. It’s really annoying to have to remove half the contents of a vast stowage bin to reach a single item at the bottom – so look out for easily accessible lockers, especially near the galley.

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It’s important when family sailing to have the mainsail control lines led back near the helm, so the boat can be safely sailed singlehanded if necessary. Try sitting by the helm and operating a headsail sheet winch. Is the mainsheet nearby so you can dump the main in a gust? Is the mainsheet track positioned where young fingers can easily get trapped? Are there plenty of harness attachments? Is there stowage for larger items like dinghies?

Rig and sails

Unless you’re planning on racing, look for a sail plan that’s easily handled. Nowadays most cruisers choose sloop rigs with in-mast furling mainsails; in fact they can often be standard. You will lose a little performance, though, so if speed and pointing ability are vital then opt for a fully battened mainsail with single-line reefing. Virtually all new cruising yachts these days will come with a furling genoa.

Will a wheel or tiller suit you best? And is the mainsheet within reach? Photo: David Harding / SailingScenes.com

Wheel or tiller? Most older boats under 32ft have tillers, whereas most new boats over 26ft offer wheel steering. If you like to ‘feel’ the boat more then go for a tiller. If a wheel seems more natural then go for it but expect to lose a little of the feedback a tiller offers.

You can put a cat on a beach for a barbecue or to inspect and give the hulls a scrub. Photo: Yachting Monthly

Monohull or multihull?

Most new boat buyers start by looking at monohulls, with few giving multihulls a second thought. However, it’s worth stepping on board a few catamarans or trimarans before dismissing them. Better still, give them a try. You might find the level sailing, greater deck space and higher speeds worth the drawbacks of having a larger boat to park and reduced load-carrying capacity.

Cruising cats have increased in popularity hugely in recent years due to the extra space they offer. They also draw very little, so you can get right in close to the shore or creep up shallow creeks where fin keeled monohulls dare not venture. They take the ground easily too, so you can actually park up on a beach.

Shopping for a new boat is all part of the fun but beware of hidden costs. Photo: Messe Düsseldorf / ctillmann

New or used?

It’s great to own a brand-new yacht but there are many good reasons for choosing a cared-for used boat. Most will have had any initial faults rectified and are likely to come with all the necessary cruising kit. The downside is not knowing how well she’s been maintained. Depending on age, essentials such as the rig and engine could require expensive replacement.

Privately owned boats under five years old tend to be well shaken down, but not worn to the point of imminent repair. Older boats might well have gone through the first wear/replacement stage and have new sails, rigging and engine.

Most equipment, especially engines, lasts longer if the boat is used regularly. The exception is with charter boats, where everything will be well worn.

A charter yacht will endure ten times the wear and tear of a private one, despite being regularly maintained. Never buy an ex-charter yacht without getting a thorough, detailed survey.

Buying a yacht new

Before buying a new boat bear in mind you’ll need considerable additional kit that’s not included. Don’t get carried away with the options list while forgetting equipment essentials. A good guide is to allow a further 15-20% of the list price to fully equip her for cruising.

It’s also worth noting that the price displayed at a boat show may exclude delivery and commissioning, which can add another chunk to the bottom line.

When you find a boat that ticks all your boxes, go somewhere quiet and add up the real cost including any ‘essential’ options. If there’s anything left in your budget, tick off any ‘luxury’ items you’d like in order of preference, until the pot is empty. You might prefer to opt for a slightly smaller boat but equip it to a higher standard.

A word of warning: if you buy the biggest boat you can afford with the intention of adding goodies later, it will almost always cost considerably more than having them fitted at the factory or during commissioning.

No matter how much you like a boat, always engage a professional marine surveyor. Photo: Graham Snook

Buying a yacht used

Never make an offer on a boat before seeing it. Even if you’re not an expert it’s worth looking for obvious things before engaging a surveyor. Check for hull cracking, gelcoat blisters, evidence of collisions, squashy decks, dodgy wiring, damaged sails, water in the bilges, seized pumps and so on. If the boat is untidy and uncared for it’s likely to have been neglected in its previous life.

Get an idea of the value of that type of boat in basic form by checking prices of similar craft online. If they range from £20-£35,000, for example, start with the lower figure and add on the value of any extra equipment. For instance, if she has new sails, raise the base ‘value’ by £2,000. For a new engine, add £3,000, and so on. When you reach a figure you think is about right, offer the vendor 20% less and see what happens.

Always make your offer subject to survey, then if problems are discovered you can reduce your offer by the cost of any remedial work required. Once a deal is agreed, if she’s out of the water, retain 10% until she is launched and the powertrain is tested.

How well will the boat reverse and manoeuvre in tight marina spaces?

The test sail

I would never buy any boat without first taking it for a test sail unless it’s dirt cheap. Some sellers won’t want the hassle, but if she’s had a good survey and you’re really keen the owner should realise this and go along with it. If ashore, the launch/retrieval costs will be yours, as will the surveyor’s bill. If you agree to purchase immediately after the test sail you might not need to crane her back out again.

If buying new the broker should have a demonstrator in the water for you to sail. It might not be equipped to your specification, but it’ll be the same model.

If you’re new to sailing, take an experienced friend or surveyor along if possible. Take your family or your partner along too, to get their opinions.

From the moment you step on board keep your senses alert. How easy is it to get on board from the pontoon? How much does the boat tip over with your weight on the sidedeck? How easy is it to walk around the decks without tripping?

Take a camera and notebook and jot down anything you’re not sure about so you can double-check it later.

Checking the engine

The first thing to test is the engine. If it’s a used boat then pull the dipstick before starting it to check the colour of the oil – any whiteness could be water and is a sign of a problem. Make sure the preheat works and that it starts easily. Marine diesels often smoke a bit at first but should clear once the engine has warmed up. Check the exhaust to ensure it’s emitting a steady stream of water.

Try some simple manoeuvres ahead and astern to get the feel of how she handles under power. Some will have noticeable prop wash, especially those with a fixed-blade propeller, but you can often use this to your advantage once you know how strong and in which direction it acts.

Once on the move go up through the revs just to check there are no flat spots and that she revs to the correct level. Few skippers ever use full revs but it’s a good indicator that all’s well with the engine, transmission and prop. Return to cruising revs and go below to hear how much noise is evident, especially in the aft cabin.

Check the condition of the sails closely, especially along the seams

Inspecting the rig

Ask the owner to show you where all the sail controls are, don’t just let them sail you around. Helping to hoist sail will show how easy or difficult it is and make handling or gear problems obvious. If it’s hard to hoist a halyard, ask why. The solution might be simple (often a lack of maintenance in a used boat), but it need not be insurmountable.

Check the headsail furler if it has one, by unfurling and refurling it. If it’s stiff to furl, check the swivels for wear. It could simply be poor maintenance, or it might be something more serious like halyard wrap or failed bearings.

Once the sails are hoisted give them a good inspection, particularly along the seams and around the clew, tack and reefing cringles (metal grommets for control lines).

Laminate sails, such as these FibrePath Enduro sails from Ullman, utilise the boat’s pointing ability and rig controls. Photo: Richard Langdon

Once you’re sailing, ask to take the helm or have your experienced mate take over. You’re looking to see how well balanced she is (assuming the sails are trimmed correctly), and how reactive the steering is.

Ideally, the helm ‘feel’ should be light but positive. It should feel like you’re just there to change direction if needed, not to keep permanent pressure on to hold her on course.

If the steering is noticeably heavy, you have too much sail up or they’re not trimmed correctly, but it’s worth asking the owner or the rep about it.

All points of sail

Put in a few tacks to see how quickly she comes around and how well the deck gear functions. Try her on every point of sail – close-hauled, reaching and running, to see what she’s capable of and if she has any particular foibles.

Depending on the sea conditions, see how she handles with a bit too much sail up and if possible how she copes in strong gusts. Then find out how easy it is to put a reef in.

Check the navigation instruments are all functioning as they should and, if it’s a particularly complicated system, ask the owner or the rep to go through all the nav instruments with you. Finally, hand the controls over to someone else and go below to see what it’s like under sail. Take note of steps, grab handles or bars and fiddles, and then simulate going to the loo, preparing a meal, lying in a berth or plotting a fix at the chart table.

For ocean sailing a yacht with a longer keel is best for comfort in heavy seas

Buying a long keel yacht

The extra drag created by their large wetted area makes them relatively slow compared to more modern designs, but they provide a comfortable ride in heavy seas, with the fullness of the keel limiting leeway and helping to keep the boat on a straight course downwind with little or no adjustment to the helm. Popular for ocean cruising but poor at manoeuvring under power in tight marinas.

A fin keel should make a boat faster and more agile

Buying a fin keel yacht

Cutting away the forefoot of a long keel reduces the hull’s resistance to tacking and manoeuvring, while also lessening hydrodynamic drag and thereby increasing speed. Many have ballast bulbs at the bottom to lower the yacht’s centre of gravity (CoG). The resulting short, deep keel makes a boat much more agile.

An obvious advantage of a twin keel is its ability to take the ground

Buying a twin keel yacht

Also called bilge keels they provide low draught for shallow water cruising and allow a yacht to take the ground upright without supporting legs. One drawback is increased leeway when sailing hard on the wind, due to the reduced wetted surface, and a propensity to heel more readily, due to the higher CoG. Often kept on drying moorings which can put the keel/hull joint under repeated pressure, so check for GRP cracks.

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How to Buy A Yacht

Which yacht is right for you?

Many factors contribute to the selection of a yacht. At the root of any sound yacht purchase decision is the core performance factors that are essential to consider long before you review interior decoration or layout.

• Motor or Sailing yacht
• High speed performance, Semi-planing hull shape or slow full-displacement?
• Size restrictions: Will you need access to a location with draft, beam, length or height restrictions? Does the dock behind your home have X feet available water or a fixed bridge limiting access to yacht with an air draft of less than Y feet?
• Guest carriage requirements: Number of guests cruising onboard and sleeping onboard?
• Maintenance issues: Are parts readily available in the intended cruising areas?
• Crew: Will the yacht accommodate a suitable number of crew to match your service expectations?
• Range: Where in the world do you wish to travel? If those ports are not serviced by a yacht transport service then the yacht will need to have an ocean passage making range and hull shape.
• Full-displacement vs. Semi-displacement?

The pros and cons of semi-displacement compared to full-displacement are:

How to buy a yacht?

There is a standard sequence to buying a yacht that is accepted by the global yachting community. Variations from these steps are possible but fairly rare.

Search and selection

Working with a yacht broker from Luxury Yacht Group your requirements are refined and suitable yachts reviewed and inspected. Inspection can be made at a regularly scheduled boat shows or by special appointment for a personal inspection subject to the yacht's availability.

Once a suitable yacht is found a formal offer is made by the buyer. This is presented by your broker on an industry standard contract to buy the yacht. This sales agreement outlines the timing for the sea trial, survey, acceptance and closing. When you make your offer it is normal to deposit 10% of the offer price into escrow with your attorney or broker. It is essential that your offer includes an accurate inventory of the vessel. At Luxury Yacht Group we always take a photographic inventory of the vessel and include that with the offer to buy.

Offer Accepted

The seller will accept, reject or counter your offer to buy. It is rare for the first offer to be accepted so it usually takes a week or two to receive an accepted offer.

Depending upon the size of the yacht the survey can take from one to 14 days to complete. During the survey all mechanical, electrical and electronics equipment is tested. The objective of the survey is to get an accurate understanding of the current vessel condition and precisely how much the yacht will cost to maintain in the next few years. As part of the survey it is strongly recommended that the vessel is hauled out of the water for inspection. The cost of the survey is paid for by the buyer.

At a convenient time before, during or after the survey the prospective buyer is able to take the yacht out to sea to establish the vessel's performance underway. This sea trial, usually limited in duration to 4 hours, is normally at the seller's expense. During the sea trial the engines are tested to verify cruising and maximum speed and it is a good opportunity for the buyer to verify the motion of the vessel and noise levels throughout the interior whilst underway.

Following successful survey and sea trial the buyer submits written acceptance of the vessel. From this point onwards the 10% deposit paid is at risk should the buyer not close the sale at the agreed upon closing date. It is very normal for deficiencies found during survey to be included in a conditional acceptance that gives the seller time to make repairs or allow a financial allowance for the buyer to make repairs after the closing. For example a deficiency is found in the air conditioning system that cannot be repaired prior to closing so a conditional acceptance is signed by both buyer and seller giving $20,000 off the previously agreed price in consideration of the non-functional air conditioning.

Just like real estate the act of a closing is a fairly straight forward exchange of signatures on important documents. The protocol of delivery and acceptance clearly lists the location and time of the ownership exchange. At closing the buyer should have new registration and insurance already lined up. The Luxury Yacht Group yacht management team will happily assist any new buyer in establishing the necessary official papers and insurance required.

Flags of convenience?

The large majority of yachts are flagged (registered) offshore. The most popular registries are the Cayman Islands, Marshall Islands and St. Vincent. These three registries offer relatively protected and inexpensive yacht registry services. Most offshore registries require that the new owner establish a corporation in their jurisdiction that owns the vessel. The beneficial owner is simply the majority shareholder in the corporation. In most cases, by flagging your vessel offshore, taxes can be avoided on the value of the hull. The savings can be significant when compared with the value of the sales tax (TVA or VAT) that would have to be paid.

Maintenance costs?

The costs of yacht ownership are significant and it is incredibly rare for a yacht owner to make money by chartering their yacht. Be very leery of any yacht broker telling you that you will make money buying and chartering a yacht. The Luxury Yacht Group management team has created the operating cost calculator that gives a general idea regarding operating costs. This can be found here: Operating Cost Calculator.

Crew costs?

The crew team at Luxury Yacht Group has developed a formula for salary ranges based upon the number of crew onboard. The table also gives the standard crew breakdown with regards job titles.

Our top 5 recommendations to new yacht buyers?

• Hire the best crew that you can find. Most problems that we see yacht owner's experience could be overcome by a good crew. Luxury Yacht Group's crew placement team has over 22,000 crew to choose from and has the best placement guarantee in the business. Please call +1 954 525 9959 or e-mail [email protected] for more information on our crew placement service.
• Take your time buying a yacht. Yachts that are for sale at 'great' or 'giveaway' prices are rarely a good buy. The cost of refitting a distressed vessel can far exceed the capital savings that you think are present on day one. Our brokerage staff can direct you to a good value vessel and away from a money pit.
• Charter prior to owning. Yachting is very expensive and owning a yacht is a truly unique vacation experience. Chartering a yacht is a great way to sample yacht ownership with a fixed cost and minimal time commitment. Luxury Yacht Group can charter you a very similar yacht to the one that you are looking at so that you can be familiar with the brand or style of the yacht that you are interested in buying.
• Understand the cost of ownership. The cost of yachting is fairly tough to justify in the real world however it is an amazing luxury experience that is only within reach of the truly successful. Please speak to a yacht management professional prior to purchasing a yacht so that you have a clear understanding of the operating costs associated with that yacht.
• Have a strong shore support team. Yachting is a luxury pastime with ups and downs. The Luxury Yacht Group yacht management team is available to support your operations to smooth over any issues that may arise. If you chose to operate the vessel from your existing offices please call us to help with the setup. We are happy to train your existing accounting or Payroll Company in some of the intricacies of yacht operations.

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Follow These Seven Steps to Buy a Yacht

06 May 2016

• Checklists & Guides
• Getting Started

Buying a Boat: A complete guide to buying a boat (with checklists)

• 39.2K views
• 6 minute read

18 comments

So you’ve taken the first big step and you’ve decided to buy a boat. Congratulations to you! We’ve put together some hints and tips to help inform your thinking. Follow our handy checklist and advice of things to look for when buying a boat and use our boat viewing scorecard to help you shortlist your perfect boat.

In this article:

• The boat buying process
• Things we wish we had known as first-time buyers

What to look for when buying a boat

• Critical questions to ask the seller or broker
• Downloadable boat-buying checklist and scorecard
• Video: Buying our perfect liveaboard sailing boat in Greece (our experience)

Buying a boat

Buying a boat is daunting. My goodness… there are so many variables, gadgets and things to consider, not to mention price points.

We bought Caladh, our bluewater Victoria 34 sailboat, in 2018 and it still feels like yesterday. We were first-time buyers, looking for a boat that we could sail around the world, and whilst Kath had sailed most of her life, T really hadn’t.

Neither of us had ever lived on or owned a yacht before, so it has been a steep learning curve, to say the least. So just in case you’re new to this, here’s the likely process you’ll go through:

• Choose your boat type and budget
• Determine whether you’d like to buy new or used
• Browse (hundreds!) of listings, on websites like Yacht World or work with a broker or attend a boat show
• Narrow down your options and shortlist your favourites (check out our checklist below to help you)
• Arrange to view your shortlist
• Before you buy, conduct a sea trial and a survey
• Negotiate and close the deal

First-time buyers: things we wish we’d known

There are so many things we would do differently if we had our time again, so here’s a few dos, don’ts and tips from us:

• Boats are personal. What’s important to one owner can be negligible to another. So focus on your own personal needs and don’t get too bogged down in what other people think.
• Think about what kind of sailing you plan to do now, and in the future. Do you plan to take the boat further afield? Will you be living on-board, coastal cruising, racing or crossing oceans?
• Think about where you want to start your adventure. It’s a big world out there, so do you need to limit yourself to a location or can you expand the search? As an example, the Panama Canal is reportedly a good place to pick up a tried and tested blue-water cruiser from someone who has decided against the Pacific crossing!
• Get on as many boats as you can. Whether that’s to sail them of just view, it’ll help you build a picture of what’s most important to you.
• Do you need a boat you can comfortably sail with two crew or even solo? This was an important variable for us to establish early, as it affects the number of bunks needed, equipment, size, rig setup, self-steering and tacking gear etc.
• Don’t compromise too much on your essentials – there are thousands more boats out there than buyers, so stick to your guns.
• Don’t stretch yourself too far. Boats DRINK money. You can probably double your contingency, or even triple it if you want to do things comfortably (with rum)!
• Spend a lot of time checking out the inner organs: Engine, Rig, Sails, Electrics, Keel, Rudder, Safety Equipment, Renewables… conduct your own survey as best you can. Leave no locker unopened!
• Take pictures of everything.
• Ask questions (see our suggested list of questions below)!
• An ex yacht broker once told me, the best deals are when the buyer believes he could have paid slightly less, and the seller believes they could have achieved slightly more.
• A boat is a depreciating asset. It will drink your money and eat your time. There are no two ways about it(!) So be realistic about the ‘investment’ (it’s not an investment, it is a depreciating asset and ongoing cost for doing something you love).
• The bigger the boat, the bigger the equipment, the bigger invoice (marinas and parts).
• Do you really need that extra cabin? If the boat’s not big enough for your parents/grandchildren/friends to visit and stay on, perhaps that’s not a bad thing and maybe they can afford a hotel?
• Are you looking to stretch your budget and take on a bit of a project, or do you want to go sailing now? Boat refits and upgrades take time and money, just be sure you know what you’re letting yourself in for.
• Finally… you’ll probably think that leaving (and boat shopping) is the hardest thing, but once you leave you’ll genuinely wonder what all the fuss was about.

It’s important to narrow down your essential items right at the start. There might be some compromises along the way, especially if budget is a restraint, but balancing ‘nice to have’ items will be much easier if you know the non-negotiables upfront.

For us, it was important we weren’t going to be limited by the boat. We wanted a sturdy girl! A strong blue-water cruiser, with medium/heavy displacement, reliable engine, good sail plan, renewable energy sources and comfortable living areas (as fulltime liveaboards).

Not being limited by the boat, also extended to the budget and gadgets. We knew that if we went for a boat with all the extra gadgets and gizmos, this would increase the likelihood of things breaking and therefore be more expensive to run and maintain in the long run.

So here are a few things to think about when narrowing down your essential items:

• Bluewater cruiser or coastal cruiser? 
• Monohull or multihull? 
• A racer or a cruiser or a racer/cruiser or a cruiser/racer? 
• Older or newer? 
• How many cabins?
• Do you want to spend more time in a marina or at anchor? (renewable energy sources, battery size, water tanks and ground tackle will be important)
• Aft cockpit or centre cockpit? 
• Skeg-hung rudder?  
• Deck saloon or coach saloon? 
• Sloop, cutter or ketch rig?
• Fully battened slab reef mainsail or in-mast furling? 
• Fin keel, wing keel or bilge keel? 
• 32 foot, 45 foot or 50 foot?  What size of boat is right for you??

Questions to ask the seller/broker when buying a boat

• How long the vendor has owned the boat and why are they selling?
• When and how was the boat last regularly used?
• How long ago were the photographs taken?
• When was the last survey? Are any available from the last 10-years?
• Is the boat ashore or afloat?
• When was the last time the broker saw the boat (if via a broker)?
• Is the seller the sole owner of the boat and free from any debt?
• If possible, ask for an equipment list with dates, makes, model (if known).
• Is there information about the maintenance history? You could ask for comments about the general condition.
• How many hours has the engine been used for?
• What is the annual cost of ownership?
• Have there EVER been any issues with osmosis?
• What paperwork is there available to prove ownership and VAT/tax paid status?
• If the owner was keeping the boat, what are the next upgrades they would do?
• Would the owner be prepared to do a sea-trial with you?
• What do you like best about the boat? Least?
• Have the water tanks or fuel tanks ever been replaced?
• Has the boat had any groundings or collisions?
• What equipment on the boat is presently not serviceable?

Boat-Buying Checklist

Download our boat-buying checklist and boat viewing scorecard to help pinpoint what’s important to you. Set down your non-negotiables and then score boats you view to see which comes up top!

Video: Buying our perfect liveaboard sailing boat in Greece

Most of all good luck! Do let us know how you get on or if there is anything you’d add to this post. We love hearing from you and will do our best to reply.

If you like this post, why not check out more of our sailing videos on YouTube , or read more about what it is like to move onto a sailing boat .

Related Posts:

Thanks for your beneficial post. I will buy a boat soon. And you’re right; I will need to try lots of boats before deciding to buy. You have listed the things to check in every detail. The cost issue is fundamental. If I haven’t read your post, I will pretty much miss out on things to consider. Hope I will choose the best boat with your advice.

Hi there! Thanks for your message and we’re so pleased you found the post helpful. GOOD LUCK with your search and do keep us posted! – Kath and T xx

It’s good to know that you need to know how often the boat was used. My husband and I recently moved into a lakefront home a couple of weeks ago, and we want to look into finding a used boat to get so that we can take it out on the lake, and we want to make sure that we find the right one to get. We’ll make sure to keep these tips in mind as we search for a boat to get!

Hi Kate, thanks for your comment! We’re glad you found some of the tips helpful. We found these kinds of articles useful too when looking for Caladh, so were keen to pay it forward. Buying is boat is so different from anything else.. it’s not quite like a car or a house.. it’s a strange mix of both in many ways! Your plan and setup sounds idyllic though and we really wish you all the best, do send us a pic when you get there and if you have any other niggly questions, don’t hesitate to drop us a message. All the best, Kath & T xx

I appreciate the tip you shared about taking pictures of everything when you are shopping for a boat to purchase. It could be a good idea to show the pictures of a boat to a skilled mechanic because they could tell if there is anything on the exterior that you need to worry about. In addition to that, you would want to make sure that the inside of the boat, including the engine, is in good shape as well.

Hi Thomas, thanks for your comment and tip about sharing photos with a mechanic. A reliable engine, in our opinion, is one of the best safety devices you have onboard. All the best, Kath & T xx

My parents would like to buy a pontoon boat that they may use for their water activities, which is why they’re currently looking for a legit dealer. Well, I agree with you that they must consider their budget before opting for the right boat. Thank you for clarifying here as well the importance of narrowing their options first before making any final decisions.

Hi Rachel, thanks for your comment and good luck to your parents with their search! Let us know how they get on 🙂

It’s great that you mentioned that it is important to ask questions when you are purchasing a boat. My brother wants to purchase a used boat that he can then use for fishing on the various lakes throughout his state. I will have to tell my brother that he will have to come up with a list of questions that are important for him when it comes to purchasing a boat.

It helped when you said that we must determine our budget when buying a boat so we won’t compromise too much. This is helpful because my husband and I are planning to buy a boat so we can have relaxation time every weekend. We are hoping to find a company that can do boat hauling to ensure everything will move smoothly.

It made sense when you mentioned asking the seller about why they are selling the boat and how long they have owned it. My friend is thinking of buying a Quintrex boat. It’s advisable to go to a certified provider to ensure an authentic unit.

I liked it when you shared that it is best to focus on your own personal needs if you need to buy a boat. My uncle just mentioned the other day that he is planning to buy a vessel for his boating trips with his sons so he can spend quality time with them. I will suggest to him find the one that fits his needs and get it from a reliable supplier.

My dad has been thinking about buying a boat that he can take the grandkids fishing on. He would really like to buy a used one from a professional so that it will fit into his budget. Thanks for your tips about how he should check out the inside of the boat, and make sure that they open every locker to make sure that nothing is broken.

I like how you mentioned that it is important to check how many hours the engine has been used when purchasing a boat. No matter how much the engine has been used, it would probably be a good idea to have it tuned up before taking the boat out of the water. You would want to get the engine tuned up so that it can last for a longer amount of time.

Recently, my dad and uncle decided to buy a boat together for fishing purposes. They’d really benefit from reading your post before meeting with boat owners next week. Thanks for mentioning we’d ask about the boat’s paperwork to prove ownership before buying a vessel.

I like the way you describe this process!! We as a yacht broker help people to find the right yacht and it is so important to know what you are buying and what is the purpose of you purchase…

Your way of telling everything in this article is actually fastidious, every one be able to effortlessly understand it, Thanks a lot.

Greetings! Very helpful advice within this post! It is the little changes that will make the greatest changes. Thanks a lot for sharing!

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Latest from the Log

• 1 minute read

‘Violent storm hits us at anchor in Corsica’ – Ch.23

‘sailing to active volcanoes & a broken engine’ – ch.22, things we wish we’d known before setting sail and living aboard a sailboat, ‘navigating swordfish fishing boats in the messina strait’ – ch.21.

Buying a Yacht: Motor Yacht Buyer's Guide

Here are a few more steps to take to make buying a motor yacht as smooth as the water’s surface on a calm day.

How to Buy a Yacht

• Decide what kind of motor yacht best meets your needs.
• Narrow down a size range (length), and consider amenities.
• Try before you buy: conduct a charter or a sea trial .
• Work with a dealer or broker who understands you.
• Set a budget, and stick to it—and then close the deal.
• Take a boating safety course.
• Enjoy your new motor yacht!

Explore Different Motor Yacht Styles

What Type of Motor Yacht is Right For You?

Truly thousands of choices await when you’re buying a motor yacht, so what type of boating do you want to do? Most boats fall into one of three categories: overnight cruising , fishing , or watersports (like wakesurfing  or wakeboarding ). Once you know what activities you’ll prioritize, that will dictate the type of boat to seek.

Select a Size & Choose Your Amenities

Ask yourself the following questions...

• Will you primarily boat with just your beloved, or several friends and family?
• Do you have a growing family, where you’ll need to plan ahead for more space?
• How aboard sleeping onboard, or spending a few days cruising?

Your answers to all of these will help you determine if you need enclosed areas for relaxing, a particular number of berths (or cabins), and certain amenities like a cooktop.

Try Before You Buy

If a friend has a similar boat, go out on it and assess its amenities with your desires in mind. You can do the same on a day charter. Definitely visit boat shows, where you can get onboard your preferred brands and perhaps even sea trial the boats. Dealer demo days are helpful for the same reasons, too.

Learn More About Sea Trials

Work with a Dealer or Broker Who Understands You

Oftentimes the first thing these professionals say is, “What type of boating do you enjoy?” Next, they inquire about how many people you cruise with, and where you plan to go. They’re not just making pleasant conversation. Dealers and brokers need a clear picture of your lifestyle to help point you in the right direction. Trust your instincts; if you have a good rapport, the last thing these reps want is for you to make an expensive mistake, with the blame landing squarely on their shoulders.

Set a Budget, and Stick to it

It’s easy to get carried away when buying a motor yacht, since it can be a “heart versus head” decision. Research prices on boat manufacturers’ websites, as well as through dealers and brokers. Additionally research seasonal maintenance costs, as well as fuel, insurance, repairs, and storage. Your spending comfort may also help you decide whether a new or a used boat is right for you . 

Learn more by reading Boat Values & Pricing: Negotiating Your Purchase .

Consider Taking a Boating Safety Course

If you haven’t already done so, sign up for a class through the U.S. Coast Guard or the BoatUS Foundation, the latter offering free courses in most states. Check your state’s licensing requirements, too. The National Association of Boating Law Administrators (NASBLA) dedicates a page on its website to state-by-state mandatory education, a good place to start. Also be sure to check out our Education & Training Guide .

Next Read: Costs of Boat Ownership

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How to Choose the Right Boat - Getmyboat Guide

Finding the Right Fishing Boat for You

There's a whole lot more to consider than just the purchase price. Here's everything you need to know as you consider the costs of boat ownership.

Owning a boat can provide you with exciting adventures and lasting memories. If you love spending your holidays on the water fishing, cruising, or touring with your family, owning a boat should be on your bucket list. Unlike a rental boat, boat ownership allows you to enjoy a journey whenever you like, with no time limits.

Setting aside the thrill of owning a boat for a moment, can you afford one?

When buying a boat, it’s not only the sales price that counts. You must also consider the average cost of boat ownership, such as fuel, maintenance, insurance coverage, and storage. It would help if you researched all the options before diving into such an investment.

This guide will give you all the information you need to own a boat. Let’s start with some of the things to keep in mind before purchasing a boat.

Table of Contents

Purchase price vs. ongoing costs, are boats a good investment, can i afford a boat, used vs. new boat prices, different boat types & sizes, the best value boats for your money, marinas and storage, equipment & accessories, licenses and education, maintenance costs, the bottom line.

The first thing that comes to mind when considering owning a boat is, obviously, the purchase price — how much are you going to have to pay upfront to buy the boat of your dreams? By making online price comparisons and asking around, you probably already have a rough idea of how much your dream boat costs.

The purchase price of a boat depends on many factors, most significantly the size of the boat, and the type of boat — which can vary drastically depending on whether you want something for the occasional weekend family day on the water, multi-day boat trips, something suitable for large parties, a small and simple cruiser for fishing, or any number of other boat types .

The purchase price can also vary greatly depending on the boat's age and condition. Buying a new boat can range from $500 to $500 million though looking at used boats can offer considerable savings and might enable you to set aside more cash for the inevitable ongoing costs you'll face in the future.

And of course, these prices are highly variable depending on the specific boat features and construction, but the biggest price jumps come when comparing entirely different styles of boat. For some rough ballpark examples, a brand-new cabin-free motorized fishing boat can easily cost up to $35,000, whereas a yacht will run you closer to $250,000 for a used one to $500,000 for a brand-new one.

But, is that purchase price all you need to consider?

Unfortunately, no, it's not. Owning a boat doesn’t end with paying the purchase price . You also have to consider the ongoing expenses, which can cost even more than the initial boat price in the long term. A simple thing such as trailering a boat can add significantly to your ownership cost, depending on how often you do it.

Some additional expenses that come with owning a boat include:

• Maintenance costs
• Storage costs
• Fuel expenses
• Insurance coverage
• Equipment and accessories
• Taxes, title, and registration
• Boat trailing expenses

A boat is a major life purchase, and even if you're not planning to use it for any commercial purposes, it could be considered an investment — and a significant one. But, is it a good investment?

To be frank, no, not really. Many financial experts don’t consider a boat a sound investment because of the ongoing costs of maintaining it. Also, since it is a depreciating asset , many do not view it as a wise purchase because you’ll spend more to own it in the long run. The specifics and calculus of depreciation are complex, and it's worth diving into some of the thorough reports that you can find online — you can try using a boat depreciation calculator , or studying the depreciation of specific boat types .

But wait! Owning a boat is about a lot more than just the financial side of it. If boating is your life's joy and a major part of your lifestyle, overall happiness, and how you like to spend your time, that's a very significant emotional element to weigh against the more cold and unforgiving financial numbers. And consider the other values a boat can bring to your life:

• Personal fun: Some people can’t get enough of water adventures. You need a boat if you love being surrounded by blue skies and water. When personal enjoyment with family and friends gives you that adrenaline rush, no dollar amount can exceed such experiences.
• Commercial value: Owning a boat can provide you with a side income. When you’re not using it for a family adventure, consider renting out your boat for an attractive cost to another family. If you take advantage of the rental feature , you can also offer water tours, fishing, or sporting activities and earn some extra money.
• Resale value: While you will unquestionably take a big hit in depreciation to some degree, you can reduce it somewhat by taking excellent care of your boat and keeping it well maintained. And while you should never expect to be able to recoup all of what you spent on your boat purchase, your boat is still an asset with some resale value, unlike a consumable good.

It's natural to dream, but think carefully: are you really in a good financial position to turn your dream of owning a boat into reality? When you think about the purchase price of a boat and all the expenses of owning one, can you still afford it?

Of course, you need a solid budget before making this huge investment. Aside from the purchase price, list the monthly expenses for repairs, maintenance, insurance, storage, equipment, and accessories. Budget for a certain percentage, such as 20% of the value, to cover these expenses.

Also, think about the face value of your boat. More expensive boats tend to cost more on storage, maintenance, and gas than cheaper ones. If you buy a luxury boat, you’re also buying the life that comes with owning one.

To figure out whether you can afford a boat or not, you have to think about the following factors:

• Your credit score: If you’re securing financing for a boat, you must consider your credit score to know how much you qualify for. If you have a high credit score, you’ll qualify for higher financing and pay a very low-interest rate. A score of 690 or higher will likely get you the best deal.
• Consider your DTI: Your debt-to-income ratio will play another role in determining whether you can afford a boat. To calculate your DTI, add your monthly debt payments and divide them by your gross income. If you get anything less than 43%, you stand a good chance of being approved for a loan to buy your dream boat.
• Your budget: How much you plan on the purchase price for a boat and the ongoing costs is important in determining if you can afford it. Don’t go above your budget just because you can afford it. Sticking to your budget will save you from the looming stress of owning a boat.

Generally, affording a boat means buying and maintaining one well without affecting your living expenses. Consider the initial purchase price, financing implications, and the expenses of keeping the boat on the water. If you find it hard to afford one after reviewing these factors, give yourself more time.

The Upfront Cost

The first thing that comes to mind when you think of buying a boat is the upfront cost. Other things, such as maintenance and fuel, tend to come later. So, what is the upfront cost of owning a boat? And why are boats so expensive?

A less expensive $150 floating boat will do for modest near-the-shore adventures. For a luxury cruise sure to turn heads, budget for thousands of dollars in upfront costs.

The upfront cost of a boat will depend on numerous factors, such as the brand, type, size, and extra features. For example, if you plan to purchase a luxury boat with all the amenities that money can buy, you’ll probably have to pay for an arm and a leg to get it.

You can control the price depending on your primary purpose of using the boat. For instance, you won’t want to spend money on all the technology and luxury amenities to enjoy a simple cruise on a holiday weekend. You can save on various accessories, such as lights and entertainment, if you only spend a short time on the water.

Some of the factors to keep in mind when deciding the upfront cost of purchasing a boat include:

• Brand: Boats are available in different brands, affecting their prices. The cost of a small boat, 6-10 feet, can cost anywhere from $500 to $800. If you’re looking for brand-name superyachts, prepare to spend millions of dollars from the start.
• Style: If you care much about the style of your boat, recognize that the most stylish ones will cost more. Higher-end boats will cost more than less elegant ones.
• Size: If you want a bigger boat for your family and friends, prepare to pay more than you would for a simple one that accommodates three to five people. Any boat over 12 feet will need a bigger engine, which means a higher purchase price.

There’s a huge price difference between used and new boats. Buying a new boat can be more expensive than buying a used one of the same type. Of course, the condition of the used boat will also factor into the price difference versus a new one. A second-hand boat that has only been running for two years will be more expensive than one that has been around for more than five years.

New boats come with luxury features and the latest technologies. They are generally immaculate because they’ve not experienced any wear and tear. The engine is still at maximum working capacity, and other amenities have not been touched. All the shine, beauty, and glamor are much more expensive.

Aside from the higher price, new boats tend to depreciate faster. In the first year of using your new boat, it will depreciate at about 10% and then reduce to around 8% to 6% per year in the subsequent years.

Even though buying a used boat comes with some added risks, used boats are much less expensive than new ones. You can find a good deal on a used boat on classifieds websites like Craigslist, BoatTrader.com, and Facebook Marketplace. Frequently, you can buy a good used boat for less than 50% of the cost of a new one.

Compared to new boats, used boats depreciate at a much slower pace. A used boat has already experienced much depreciation and tends to retain its value more than a new one.

The risk of buying a second-hand boat can include higher maintenance costs. Unless it is well-maintained, you risk buying a boat with pre-existing issues, from appearance and functionality to safety. Buying a new one guarantees peace of mind that you won’t get if you opt for a used one.

Another significant factor determining how much upfront you’ll pay for a boat is its type and size. Boats come in different sizes and types; some might be wildly out of your budget range, and others quite affordable.

Typically, boats are classed by length:

• Class A : 16 feet or under
• Class 1: 16–26 feet
• Class 2: 26–40 feet
• Class 3: 40–65 feet

Many factors will determine the boat size most suited for you, including previous boating experience, storage space, activity, docking space, and budget.

Once you decide on the size, the type of boat you choose is another factor that drives the purchase price. The most common types of boats include:

• Pontoon boats: Many owners start with a pontoon boat to enjoy water adventures. These boats are perfect for fishing or just traveling in the water. They’re not good for water sports because they are very slow. Pontoon boats cost between $10,000-$80,000.
• Sailboats: A sailboat is another common type used for recreational activities such as cruising and racing. These boats are very economical, as you can use the sails and not fuel. You can get a quality sailboat for as low as $5,000.
• Yachts: A yacht is usually associated with luxury and prestige. Yachts have high-end facilities and entertainment features, allowing people to live comfortably inside for lengths at a time. All this luxury does come at a price. A small-sized yacht can cost a whopping $500,000.
• Fishing boats: Buying a fishing boat will ensure you enjoy unlimited fishing adventures. They tend to have a small seating area with an open deck space for storing caught fish. A new aluminum fishing boat can start at $25,000, while a fiberglass boat can range from $32,000-$35,000.
• Speedboats: Speedboats, also known as motorboats, are equipped with engines. Because of its powerful engine, a speedboat tends to go very fast but consumes a lot of fuel. You can get a new speedboat for $30,000-$75,000.
• Cabin cruisers: Cabin cruisers are also packed with all the best features money can buy. They work like mobile mini vacation homes, perfect for family adventures. A new cabin cruiser starts at about $100K and ranges to $500K.

To determine the best value for your money, return to the question, “Can you afford a boat?” Having looked at various boat prices, you can see that some boats are quite affordable, but others are expensive. But no matter how cheap or expensive a boat is, you must still consider the intended use.

For example, you can’t buy a fishing boat for racing. So, even if a fishing boat is cheaper than a speedboat, you’ll still go for the latter because it will fulfill the intended purpose. You won’t get value for your money if you’re buying a boat you won’t use.

So, the best value for your money is one that fulfills its intended purpose. For instance, it won’t matter if you pay a hefty price for a cabin cruiser or a yacht as long as you spend a wonderful vacation with your loved ones onboard. So, when choosing the right boat , consider how it will serve you before considering its monetary value.

The Ongoing Costs

Whether buying a new or a used boat, you must look beyond the upfront costs. Keeping the boat active and ensuring it serves you well come at a cost. Knowing all the expenditures of owning a boat will help you devise a better plan so that these expenses won’t catch you off guard.

So, before buying your dream boat, consider the following ongoing expenses.

Where will you keep your boat when it’s not on the water? If you plan to store it at a marina, you’ll have monthly fees for the storage. Marina costs vary, including indoor or outdoor storage, the storage period, and other services such as cleaning and security.

Storing your boat can range from a few hundred dollars to more than a thousand dollars monthly. For instance, storing your boat at a privately-owned storage facility might cost less than mooring it at a municipal or private marina. Additional fees with boat storage include utility fees, maintenance fees, car parking fees, and live aboard fees.

How much you spend on fuel will depend on a few things: your type of boat, how often you use it, and the specific type of fuel you need. A sailboat will obviously be much more economical regarding fuel, since it can run primarily on wind power. On the other hand, a speedboat will tend to have additional costs because it consumes more fuel to power the engine.

You might also spend more on boat fuel if you carry a huge load or encounter unfavorable sea conditions. And remember that fuel prices often fluctuate with the current economic situation, so plan your boating trips accordingly.

Apart from the fuel, you’ll also have to pay for other operational expenses such as oil, pumps, lights, batteries, and specialized equipment. One thing you can do to reduce fuel costs is to use a fuel consumption gauge. Also, consider buying newer model boats designed for better fuel efficiency.

To take your boat out on the water, you’ll likely equip it with different accessories. Some accessories are for your own use, while others are essential for running the boat.

The good news is that some of these accessories are one-time expenses. However, you must factor them in because they contribute significantly to overall boat costs.

Some accessories and equipment to consider for your boat include:

• Lifejackets
• Fishing tackle
• Watersports equipment
• First aid kits
• Personal locator beacons
• Marina radio
• EPIRB (Emergency Position-Indicating Radio Beacon)
• Extra fishing rod holders
• Fire extinguishers
• Electronics
• Visual distress signal
• Sound-producing device
• Boat cushions
• Tackle storage

Of course, the accessories you need depend on the boat type, your purpose for using the boat, and how long you will spend on the water. Your needs also depend on the season, so you might only need some things at a time. Budget for the equipment as you need it, and treat your boat to an accessory upgrade occasionally.

A boat operator license and a boater’s safety education course are mandatory in many states. When boaters are educated on operating a boat and safety measures, they’ll be less likely to get into an accident on the water.

The weather conditions can change at any time, and it might be difficult to control the boat if you don't have the training you gain from taking safety courses. These courses remind boaters about safety rules, operational laws, and general boating knowledge.

Every state has specific boater education requirements that you should review. Don’t just take the course because it’s a requirement; consider the benefits. You can select online or in-person classes for free or for a small instructional fee.

After training, you’ll also need to pay title fees and registration. Your boat registration is the identification number on its bow. Getting your boat registration and title varies from state to state, so look into your state's requirements. Registration and title costs range between $20 to more than $200, depending on the vessel's type, size, and purpose.

Whether you buy a used or new boat, you have to maintain it well to keep it in good condition and retain its resale value. Boat maintenance includes cleaning, waxing, engine tune-ups, and painting. You might also have to deal with repairs, such as electrical and plumbing issues.

Yearly boat maintenance can cost about 5% to 10% of the boat's total value. The cost might be less or more depending on factors such as frequency of use, boat age, and weather conditions. You can also handle some maintenance issues yourself to save money.

Remember that a new boat will cost less to repair than a used one. However, as the boat ages, it will depreciate and require more maintenance. Also, if you use your boat in freshwater, you’ll save more on maintenance and cleaning than if you use it in salt water.

You need to insure your boat against unexpected occurrences, such as an accident or damage. The right coverage will give you peace of mind whenever you are out on the water or have your boat in a storage facility.

The costs of insuring your boat also depend on several factors, such as the type, size, and frequency of use. Other factors influencing the cost include add-ons such as towing, salvage, docking, and storm coverage.

Boat insurance coverage varies from state to state and with the insurance company you choose to work with. Conduct extensive research and read reviews before choosing an insurer for your boat. Once you identify one, let them give you a quote so that you can estimate your annual premiums and if they fit into your budget.

So, What's the Total Cost?

Buying a boat will be expensive or cheap, depending on what you want and how prepared you are. It’s important to research the purchase of various boat types and the ongoing costs before you make the bold step.

You might pay twice the actual boat price if you calculate annual fuel costs, maintenance, storage, repair, accessories, and more. For example, if you bought a yacht for $250,000, the ongoing costs might add up to $500,000 annually.

Remember, this figure includes one-time costs such as registration, training, and equipment. The amount might not be the same for subsequent years since you won’t have to register your boat again or take certain educational courses.

The total investment also depends on your lifestyle. Apart from mandatory costs, other expenses accompany spending time on the water. These include food, drinks and ice, a tour guide, and other things to make your boat adventure enjoyable. Consider all the factors of owning a boat and fit them to your situation, then calculate your total cost.

Given the fun and memories that owning a boat brings to the family, buying a boat can be a good ‘ROE’ - Return on Emotions. However, if you don’t prepare for all the expenses of owning a boat, you might not enjoy it in the long run. You must research and understand all the costs and aspects of a boating lifestyle.

Remember, you’re not just buying a boat; you're buying the luxury of owning one. You can only enjoy your boat when you’re not stressing about the finances of owning it.

Boat Buying FAQs

How do I determine the cost of a boat?

Boat prices vary by brand, size, and type. You also look beyond the purchase price for ongoing maintenance, fuel, storage, and insurance costs.

Why do boats consume so much fuel?

Boats run on water instead of land, consuming more fuel than cars. Many forces drag it behind, such as wind resistance, waves, and aerodynamics, which contribute to more fuel consumption.

How long does a new boat last?

A new boat can last between 5-50 years. Factors affecting a boat’s lifespan include material (wood, aluminum, or fiberglass), frequency of use, and maintenance.

What is the most expensive type of boat?

A yacht and a cabin cruiser are the most expensive boats, ranging from $500,000 to millions.

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The Top 15 Questions You Should Ask When Buying a New or Used Boat

27th oct 2023 by samantha wilson.

Buying a boat is an exciting time, but it can also feel daunting. How do you know you’re buying the right boat? It’s the most frequently pondered question, and justifiably so. Boats are often a major investment, and you want to get it right. Whether you’re buying a new boat or a used boat, the process is virtually the same, although there are some extra steps and considerations to take when buying a used boat. Begin your boat-buying journey with our in-depth and step-by-step Guide to Buying a Boat . Once you’ve narrowed down your options and it’s time to view some boats, you’ll want to go prepared. Here are some of the top questions you should be asking yourself, a broker, or a private seller. 

Once you’ve narrowed down your options and it’s time to view some boats, you’ll want to go prepared and ask all the right questions.

Questions to Ask Yourself

• Why do I want a boat and what does it need to do? It’s the most important first question to ask yourself. Narrowing down the reasons you want a boat will go a long way to helping you work out which is the best boat for you . Do you want to go fishing with a friend on the lake? Do you want to enjoy weekends cruising coastally? Or do you need something the whole family can enjoy but will fit on a trailer in the yard? Boats fulfill quite specific functions, so there is sure to be the right one for your needs.
• What is my budget and can I afford the upkeep? Owning a boat is an on-going expense and so you need to look far beyond the initial purchase price. As a rough and general rule, you’ll need to budget for 10 percent of your boat’s purchase price in annual maintenance costs, insurance, storage, and taxes. See our guide on the Real Costs of Owning a Boat for more information.
• Should I buy a new or used boat? There are many pros and cons to buying both new and used boats , but perhaps the biggest tradeoff is the warranty that comes with a brand new boat versus the cost difference of a used boat. You may very well get a better model or a bigger boat for your money buying used, but you won’t be getting the same peace of mind that a new boat can offer.
• Where will I keep it? Making sure you have somewhere to store your boat year round is something that needs doing long before you sign on the dotted line. You might want a boat small enough to be kept on the driveway and trailered, or if you choose a larger boat you’ll need to look into in-water storage in a marina, outdoor self-storage, or dry-stack storage. Each has its own pros and cons so look into what’s available in your area and decide what will work best before buying the boat. 
• Am I experienced enough for the type of boat I want to buy? This is a case of being completely honest with yourself. Buying a boat—whether it’s a sailboat or motorboat—that’s too big or too powerful for your experience level is likely to overwhelm you. Of course you can overcome that hurdle by taking courses to further your training and give you confidence. However, it’s advisable to buy a boat that’s within your comfort zone so you can enjoy it to the fullest. 

Making sure you have a place to store your boat all year round is something that must be considered before closing the purchase.  

Questions to Ask a New Boat Dealer

• What kind of warranty does the boat have? One of the biggest pros of buying a brand new boat is the peace of mind that a warranty brings. Standard manufacturer warranties will usually cover your new boat against defects, both in materials and construction, including things such as steering systems, and electrical and plumbing systems. Extended warranties, however, can be negotiated or purchased, to protect your boat for longer. It’s important to see the fine print and ask exactly what is covered and for how long. 
• What are the standard and optional extras? When viewing a new boat, you need to make sure you know what comes included in the basic model, and what are optional extras. When you see a display boat, it may have been equipped with fishing gear, a watersports tower, and high end upholstery that are in fact charged extra. It’s common to choose from a list of options for your new boat, from the engine size to the electronics on board, so sit down with the boat dealer and make sure you know exactly what’s included before signing on the dotted line. 
• What finance options are available to me? Buying a boat is a big financial decision, and many people choose to spread the cost over a few years by using boat finance options. Brokers and dealers can offer good on-site loans and finance options so it’s certainly worth asking the question and comparing the numbers with other lenders. For a more in-depth look at your options, see our guide on How to Finance a Boat . 
• How fuel-efficient is the boat? While it’s not necessarily a make-or-break factor, knowing the fuel efficiency will help you to decide if this boat is right for you and whether it fits within your annual budget. Fuel efficiency isn’t an exact science and can vary depending on factors such as your driving style, total load, or the typical tides and current. Nonetheless, a broker should be able to give you a good ballpark figure for a new boat. 

When looking at a new boat, make sure you know what the basic model includes and what the optional extras are before you sign on the dotted line.

Questions to Ask a Broker or Private Seller Selling a Used Boat

• Why is the boat being sold and how long has the current owner had it? This is an important question to ask, although you’ll never know for certain if what you’re being told is the full story. It might be a simple case of the owner upgrading to a larger boat, or someone having passed away and the family no longer using it. More vague answers, however, such as “We just don’t get enough use out of it,” may very well be genuine, but might also be taken with a pinch of salt. Asking how long the owner has had the boat sometimes sheds some light on the situation. If they’ve had it for a short amount of time and are selling without what seems to you a logical reason such as, “At 15 feet, it was too small for our family of six,” then you may be hearing an alarm bell ringing. 
• Is the boat still under warranty and is it transferable? Depending on the age of the boat, it might still be within its warranty, which is a valuable document to have in your possession. Ask whether it a) still has a warranty, b) how much time is left on the warranty, c) what the warranty covers, and d) whether the warranty is transferable to the new owner, i.e. you. Boat warranties should be transferable if handled through the correct channels, likely the manufacturer. Some boat dealers also offer limited-time warranties.
• Where has the boat been stored? Knowing where a boat has been stored will give you insight into its maintenance schedule and therefore its overall condition. Boats stored outside in the water are likely to have suffered more wear and tear than those stored in dry, covered conditions. The effects of salt water, freezing water, and the weather can cause corrosion and damp, amongst other issues. That doesn’t mean you should never buy a boat stored in the water—indeed one could argue that it may have been kept there because it was used more and therefore was maintained better, or perhaps it’s a plank-built wooden boat kept in the water under a custom-fit cover during winter months.  But regardless of the story, where the boat was store may give you good reason to look further into its condition and negotiate the price accordingly. Use our Boat Inspection Checklist or Guide to What to Look for When Buying a Used Boat to help you. 
• Can I have a marine survey and sea trial? A sea trial is essentially a test drive of a boat. It gives a prospective buyer the chance to see the boat in action, try out the equipment and instruments, get a feel for the boats’ maneuverability, and usually to take along a surveyor. In fact, a sea trial is often conducted on the same day as a marine survey for that reason, and the surveyor will include the sea trial as part of their report. A seller should always be open to a sea trial, however, if the boat hasn’t been used and isn’t insured they may understandably be more reluctant. Then again, you wouldn’t buy a car, or even a bicycle, without testing it out first so do so before buying a boat if it’s at all possible. For more, see our Guide to Sea Trials . 
• How many hours does the engine have logged and when was it last serviced? A good service record is worth its weight in gold when buying a used boat, and that’s especially the case when it comes to the engine. Ask how many hours the engine has logged and when it was last serviced (as well its regular service program). Boats log their engine use as hours used, rather than the distance in cars. Working out what is considered high or low annual engine hours depends on the age of the boat. What is high for a three-year-old boat might be considered low for a 10-year-old boat. 
• What’s included in the sale? What you see isn’t always what you get. While we always recommend sellers remove anything that isn’t included in the sale of the boat before showing the boat, not everyone does. Be sure to ask exactly what is included, from the soft furnishings to the electronics and safety equipment. The seller should be able to supply you with a detailed list of what is and isn’t included in the sale. 

Although you will never know for certain if you are being told the truth, it is important to ask why the boat is being sold and how long the current owner has owned it.

Written By: Samantha Wilson

Samantha Wilson has spent her entire life on and around boats, from tiny sailing dinghies all the way up to superyachts. She writes for many boating and yachting publications, top charter agencies, and some of the largest travel businesses in the industry, combining her knowledge and passion of boating, travel and writing to create topical, useful and engaging content.

More from: Samantha Wilson

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How Much Does It Cost To Buy A Yacht?

By Rob Bowman | Posted On Aug 09, 2021 Updated On Dec 12, 2023

If you're new to owning a boat and want to experience the luxury lifestyle, buying a yacht is the perfect way to indulge yourself while also creating unforgettable memories on the water. From anchoring at a secluded island in the Caribbean to cruising the coastline enjoying the fall colors, yacht ownership opens up limitless possibilities to explore the beauty of Mother Nature. It can also create quite the adrenaline rush if a sportfishing boat is more your style. There are many benefits to hiring a professional yacht broker when you plan on buying your first yacht including having someone on your side when evaluating the right price, for the right vessel.

So how much does it cost to buy a yacht on average? In 2021, the average selling price of a yacht is approximately $640,000, with prices ranging from $300,000 to over $15,000,000. This average selling price represents all pre-owned boats from 40-feet to 100-feet, power (not sail), and sold in the Southeastern United States, including the large Florida market. The data collected for this sales price was from the boating industry's MLS system.

This 50-foot flybridge yacht (seen below) was sold around the average selling price mentioned above and is a good example of what you can expect when spending over $500k . It features several bedrooms for overnight trips, a galley, a nice flybridge seating area, and a lot of comforts you would find at home.

A yacht can mean vastly different things to different people depending on their style of boating, where they live, what they plan to do on the boat, and the amount of equipment they choose. A 50-foot yacht can vary in price by several hundred thousand dollars depending on how new it is, its engines, brand, and amenities. Having a conversation about your needs and budget with a professional yacht broker can answer all of these questions and take the guesswork out of your search. 

While the average price of a yacht sold in the Southeast this year is $640,000, buyers can find yachts for less if they are willing to go a bit older and/or a bit smaller.

• According to the list of 2021 sold boats, the average selling price for yachts between 40 and 50 feet was $329,000.
• Yachts under 40 feet are generally called cruising boats and can still feature a lot of the same amenities found on larger vessels.
• How much does a small yacht cost? Examples of active boats on the market right now show a sizeable difference in price depending on the length and year. For example, a 2021 40-foot Intrepid boat is listed for over $800,000 , while a 2011 Intrepid 40 is listed for under $400,000 .

(Seen below: This Cabo 40 would be considered a smaller yacht and is listed for under $375,000.)

The larger, newer, and more extravagant yachts can cost $5 million and higher. Forbes.com identifies a superyacht as a vessel ranging from "79 feet to more than 590 feet in length." The average selling price in 2021 for yachts over 100-feet, according to the industry MLS database, came in at just under $1 million. Of course, there were several superyachts that were between $10 million and $50 million on the list.

A prime example of a superyacht would be " ANTITHESIS ", a Horizon Yachts 136 that had an asking price of $7,990,000 at the time of sale. This superyacht featured 5 luxury staterooms, a pilothouse with full electronics suite, a jacuzzi, sauna, 2 water-makers, 2 generators, and a lot more top-end equipment. Yacht owners looking to cruise long distances or possibly turn the vessel into a yacht charter business would be interested in a boat of this stature.

( Seen below: This Horizon 136 required massive engines that gave it a range of over 1,400 nautical miles. )

The cost of a yacht is not the only cost to consider. Purchasing your new boat is the largest upfront expense, however, there are also the costs of owning a yacht that need to be considered. This is again where hiring an experienced, professional yacht broker can really pay dividends and take a lot of the stress out of the process. Things like insurance, storage, routine maintenance, captain and crew salaries, all need to be factored in to your expectations. We dive into this a bit more in our articles Why Are Boats So Expensive? and What Should I Spend On A Yacht?

Despite the potentially high cost of yacht ownership, it is still an excellent investment in your well-being and will bring countless joyful memories. There is no other recreation in the world that brings families and friends together, while enjoying the wonders of the ocean.

( Seen below: CHIMERA is a 60-foot Hinckley sailing yacht listed for over $1 million. )

While the purchase of sailboats still account for less than 10% of all boats sold, sailing is still a popular past-time which has some very passionate enthusiasts. According to Trade Only Today , in 2019 and 2020 there were more than 1,100 sailboats sold in the United States. As you begin to figure out exactly what type of boating you want to enjoy, as well to learn the advantages and disadvantages of different boat types, you can begin to narrow down the selection process.

Below is the average cost to purchase a small yacht broken out by type :

• Sailboats Over 40': $193,000
• Sailing Catamarans - All Sizes: $361,000
• Power Catamarans - All Sizes: $304,247
• Downeast Yachts - Over 35': $532,240
• Sport Fishing Yachts - Over 40' and in Southeast: $815,500

With so many factors to determine how much it costs to buy a yacht and maintain it, it is in the best interest of boat buyers of this magnitude to speak with a certified professional yacht broker. "Pricing a yacht in this market can be a difficult thing," said Brian T. Franc , CPYB and manager of United's Emerald Coast Division. "Pre-owned prices are definitely inflated due to lack of inventory, but there are still some great opportunities if you are fast and have someone watching the market daily on your behalf. As someone who has been in the yacht brokerage industry for almost 30 years, I can tell you that working with a professional makes a difference. We can tell almost immediately whether a boat is over-priced, what it will likely sell for, and whether or not it is the right boat for your needs.

Other Related Articles Of Interest :

• Can I Sell My Yacht Without A Broker?
• Why Are Sportfishing Yachts So Expensive?
• What Is The Best Time Of Year To Sell A Boat?
• How Much Should I Pay For A Yacht?

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Owner's advice: Top tips for buying your first yacht

Buying your first yacht isn’t something anyone should enter into lightly. Without knowledge or experience, it is easy to find yourself led astray by the  inspiring yacht concepts  of boundary-pushing designers or talked into building a  super-fast yacht  with technical capabilities you’ll never use.

With this in mind, BOAT spoke to a number of experienced serial yacht owners who know a thing or two about the buying and building process. Here are their top tips on what to look out for, what to avoid and how to make sure you get the yacht you really want.

Consider all of your options

When Steve Sidwell , owner of 34 metre Ascente , began looking for his perfect yacht he had his dream vessel in mind - but couldn't find her anywhere. “I went to the Monaco Yacht Show and I came to the Fort Lauderdale International Boat Show maybe three years in a row. I looked at all the different boats and none of them fit,” he says. “It’s a million-dollar-a-year operating budget. I don’t want to spend that. It means one or two engineers on board as well and I don’t want that. A big crew, I don’t want that. I want my kids and me to be able to operate the boat."

Having done the rounds of all the turnkey yachts on the market it was time to consider a different route to life on the waves. “I wasn’t intent on doing a refit , but I never really found anything that was a good fit for me in my price range, and then I found this boat and within 20 minutes I thought, ‘That’s it.’” A lot of, admittedly, hard work and determination later, Sidwell now has the family-friendly yacht he'd always wanted and the memories of round-the-world adventures to go with it.

Aesthetics aren't everything

When a fire on their yacht Camarina Royale put Jack and Mary McClurg in the market for a new superyacht there were some big aesthetic obstacles Mary had to get past when Jack suggested Marcato (now Friendly Confines) . “We’d been running around looking at boats all day and our broker said we could get on Marcato that afternoon, but Mary refused to go,” Jack explains. And, while he immediately fell in love, Mary couldn't stand her but, as she explains, “I knew he loved it. If the price was right, then so be it. I couldn’t be the reason he didn’t have it.”

Don't be afraid of impulse buys

When Elizabeth and Rory Brooks came to make their first yacht purchase, it was an impulse buy that led them to classic Feadship Heavenly Daze . “We were in the South of France chartering a motor yacht, and it broke down,” says Elizabeth. “And so we were stuck in the marina at Port Cogolin. There was this boat moored next to us, which was a very pretty classic yacht, and my husband persuaded the captain to talk to their captain and we had a look around.” That yacht, of course, was Heavenly Daze and, as Elizabeth explains, "The first thing you fall in love with is very often the right thing.”

Buy the right yacht for the trip you plan to take

When Tara Getty bought the classic yacht Blue Bird it was with one thing in mind: an epic round-the-world adventure including a search for buried treasure on the remote Cocos Islands. And how better to get there than in a boat built by Sir Malcolm Campbell specifically for the journey - albeit 67 years earlier? "We did it – we finished the journey Campbell started,” Getty says. “The vision for the trip was my children. My eldest son finished school in South Africa in December 2014 and was starting in England the following September. So we had that December to September period. It was the most amazing opportunity to do something with the children.” Of course, Getty and his family did enjoy a few modern upgrades on board Blue Bird - including zero speed stabilisers for that often rocky Pacific crossing. “I wanted two of everything," Getty explains. "Watermakers, washing machines, dryers, so if something breaks we can continue. At one point our hydraulic pack broke but we had enough redundancies to carry on.”

Think about the purpose of your yacht before design begins

Serial sailing yacht owner Mike Slade faced the issue of creating regatta-ready charter yachts with every one of his new builds. His advice – know what you want before the design process has even begun. "The question is, how do you mix the chartering and the racing?,” he told Boat International of the build of Leopard 3 . “You are going to be heavy, so it's up to the designer to offset that heaviness and reduce the disadvantage - so upwind we'll pull out [distance on the opposition]."

Even if you have a distinct dream or vision for your yacht, chances are the designers and builders you employ may not quite understand it – as Patti Seery discovered when she set about building her traditional Indonesian phinisi Silolona . "I wanted to do a phinisi because I knew they could be better and safer if purpose-built for chartering; plus I love the element of history and the sheer joy of sailing on a wooden ship,” Seery explains. The only problem was finding a Western designer who could work the traditional Indonesian craftsmen – an issue which would take a lot of patience on Seery’s part.

"I went through four naval architects trying to find someone who understood my vision before meeting Michael Kasten . I [had also] befriended a group of traditional Konjo boat builders from the tiny village of Ara who build the majority of large wooden cargo boats in Indonesia. There was one small problem. They had never built a boat to plans before Silolona .” The answer, she says, was a hands-on approach, “I knew the only way I'd be successful was if I put the full-on Western approach aside. So I went out to the boat graveyard and saw the problems for myself."

Know your limits

When sailing yacht and charter business owner Barry Houghton ordered Salperton II – the biggest yacht ever built by Alloy Yachts at the time – for racing, he thought she was his dream vessel. The truth, however, was that she was just too much for him. “I sold her as she was too big for me,” he explains. “The flybridge was too far from the water and you don’t get the real feeling of sailing. I sold her well and decided to go for something in the 40 to 45 metre range.” The result was the 44 metre Dubois -designed Salperton III (now Mes Amis ), which was built at Fitzroy Yachts in New Zealand but she too proved to be a costly learning curve for Houghton. “Immediately before I took delivery, I ordered another as I could see things that I could improve,” he says. “Unfortunately I lost money but it was the right decision.”

Determination and passion are everything

When Sir Charles Dunstone chose to undertake the huge restoration project that was classic yacht Shemara , many of his fellow owners thought he was crazy. Shemara was in a state after languishing in a derelict dockyard for years but Dunstone's passion for the project kept him going.

“I see Shemara and I think how amazing it could be,” he explains. “My mind has a very bad habit of just disregarding everything that’s going to be awful and thinking, ‘Come on, we can do this, we’ll find a way, it’ll be OK.’ In a funny way, the bigger the project is, the more enthusiastic I am.”

“We rented the shed ourselves, we hired the naval architects and then tendered each job,” he says of his unique approach to the restoration. “You don’t know what you’re going to find with a project like Shemara - there’s no way anyone could give a quote for this boat. And once your boat is in pieces in their yard, you’re just going to be completely held to ransom.”

Charter first to find out what you like

When fashion designer Giorgio Armani set about building his first boat he was helped a great deal by previous yachting experiences. “Sometimes they’d belong to people I knew, sometimes they were just chartered. Invariably they were not my style – too white, too much lighting, too much marble, crystal and mahogany,” he explains.

Armani’s yacht, the 65 metre Codecasa Main , was far from your average gleaming white hull. “Painting Maìn green was a choice made to camouflage her at sea, so it doesn’t appear too flashy,” he says. “I designed Main entirely, taking inspiration from particular military vessels that looked very practical, and from the optimisation of space that is a characteristic of old ships. Notably, I set out to rid the decks of all superstructures that might break up the purity of line.”

Find a designer who understands your vision

Aside from the builder there is perhaps no other party that has quite such a large impact on your yacht than the designer. Whether you're building from scratch for the first time or the fifth, it's important you find a designer who understands your vision, lifestyle and what your hopes are for your new superyacht. Pier Luigi Loro Piana , a serial sailing yacht owner, explains this eloquently in his relationship with famed yacht designer Mario Pedol , “He is a boat designer who has an engineering company. He works with more specialist architects, like Bruce Farr, like Vrolijk. He is the number one in Italy in my opinion."

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Is now the time to look at buying malibu boats, inc. (nasdaq:mbuu).

Malibu Boats, Inc. ( NASDAQ:MBUU ), is not the largest company out there, but it received a lot of attention from a substantial price increase on the NASDAQGM over the last few months. The recent rally in share prices has nudged the company in the right direction, though it still falls short of its yearly peak. With many analysts covering the stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price. However, what if the stock is still a bargain? Let’s take a look at Malibu Boats’s outlook and value based on the most recent financial data to see if the opportunity still exists.

View our latest analysis for Malibu Boats

Is Malibu Boats Still Cheap?

According to our valuation model, Malibu Boats seems to be fairly priced at around 1.59% above our intrinsic value, which means if you buy Malibu Boats today, you’d be paying a relatively fair price for it. And if you believe that the stock is really worth $37.86, then there isn’t really any room for the share price grow beyond what it’s currently trading. So, is there another chance to buy low in the future? Given that Malibu Boats’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us an opportunity to buy later on. This is based on its high beta, which is a good indicator for share price volatility.

What kind of growth will Malibu Boats generate?

Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. With revenues expected to grow by a double-digit 20% over the next couple of years, the outlook is positive for Malibu Boats. If the level of expenses is able to be maintained, it looks like higher cash flow is on the cards for the stock, which should feed into a higher share valuation.

What This Means For You

Are you a shareholder? MBUU’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value. However, there are also other important factors which we haven’t considered today, such as the track record of its management team. Have these factors changed since the last time you looked at the stock? Will you have enough conviction to buy should the price fluctuates below the true value?

Are you a potential investor? If you’ve been keeping an eye on MBUU, now may not be the most optimal time to buy, given it is trading around its fair value. However, the positive outlook is encouraging for the company, which means it’s worth diving deeper into other factors such as the strength of its balance sheet, in order to take advantage of the next price drop.

Since timing is quite important when it comes to individual stock picking, it's worth taking a look at what those latest analysts forecasts are. So feel free to check out our free graph representing analyst forecasts .

If you are no longer interested in Malibu Boats, you can use our free platform to see our list of over 50 other stocks with a high growth potential.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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• Meet Spitfire, a New 164-Foot Superyacht Based on a High-Performance Patrol Boat

The newcomer features a robust hull by Ares Shipyard in Antalya, Turkey.

Rachel cormack.

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Rachel Cormack's Most Recent Stories

This new catamaran concept was designed to carry your bugatti across the high seas.

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Bannenberg & Rowell Design just proved you don’t have to reinvent the wheel—or hull, in this case—to stand out.

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The new 164-footer, christened Spitfire on account of her grunt, pairs a sleek, sporty, and somewhat utilitarian exterior with a luxurious, amenity-plenty interior. Bannenberg & Rowell executed the design, while fellow British outfit Lateral Naval Architects spearheaded the engineering.

Spitfire is lightweight in construction but punchy in terms of performance and range, according to Bannenberg & Rowell. The studio didn’t share any details regarding the propulsion system but says the “super-nimble” yacht can cruise “electrically and silently,” can hit 22 knots, and cover up to 3,500 nautical miles.

Spitfire is designed to run like a workhorse but offers all the requisite mod cons. Bannenberg & Rowell has stuck with the old naming conventions in a nod to the newcomer’s military roots. The layout includes buddy quarters (guest cabins) and a wardroom (salon) with an opening roof, as well as a scramble station (helm) and a fun store (gym). The owner doesn’t just get a lavish suite, but also a private, forward area with a Jacuzzi. Other highlights of the yacht include an outdoor cinema, a grill, and a beach club with fold-out terraces.

Spitfire is one of Bannenberg & Rowell’s smaller and more understated creations. The studio previously penned a 367-foot superyacht with two cinemas, two jacuzzis, a large wellness center, a 33-foot pool, a DJ station, and a jazz bar, for example. That may have resulted in a shorter production time. Bannenberg & Rowell says the vessel is due to be delivered in 2026.

Click here to see all the photos of Spitfire.

Rachel Cormack is a digital editor at Robb Report. She cut her teeth writing for HuffPost, Concrete Playground, and several other online publications in Australia, before moving to New York at the…

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Electric Candela hydrofoil boat sets world record by crossing Baltic Sea

• September 16, 2024
• 2 minute read
• Joshua S. Hill

An all-electric hydrofoiling boat from Swedish company Candela has set two new world records by travelling between Stockholm and the Finnish autonomous region of Åland, marking the first time an electric boat has crossed the Baltic Sea.

Candela, which has developed a range of electric hydrofoil boats and ships, wanted to demonstrate that “that zero-emission sea travel is not only possible today, but that foiling electric ships and boats are so much cheaper to operate than fossil-fuelled vessels.”

The record-breaking journey was undertaken in the Candela C-8, a €330,000 ($A544,500) leisure craft, equipped with a battery from technology partner Polestar.

The journey covered 150 nautical miles from the port of Frihamn in Stockholm, Sweden, to Mariehamn, the capital and largest town of the Åland Islands, an autonomous region of Finland, with a charging stop in Kapellskär.

While charging along the trip was made mostly with existing charging infrastructure, a 40kW Kempower Movable Charger was needed in Kapellskär.

Leaving from Frihamn at 6am, the Candela C-8 made it to Mariehamn by lunchtime, and returned to Frihamn the same day.

YouTube : https://www.youtube.com/watch?v=6hFoRF_Q0CA

“The disadvantage of electric boats has been their short range, due to traditional boat hulls consuming so much energy,” said Gustav Hasselskog , the company’s CEO and founder.

“With our hydrofoil technology, we combine high speed and range, but you get so many other benefits. Flying over the Åland Sea in total silence and without slamming was absolutely magical.”

A gasoline-powered chase boat of similar size accompanied the Candela C-8 on the journey and had to be refuelled for a cost of €750, or around $A1,230. For comparison, the Candela C-8 consumed 213 kWh of electricity, at a cost of about €40-50 (around $A66-83).

“We actually had range anxiety, but not for the Candela,” said Gustav Hasselskog.

“The irony is that the photographer’s gasoline-powered chase boat had to refuel six times during the trip, while we only charged three times.

“We’re talking about 95% lower operating costs,” concluded Hasselskog. “This is a revolution that makes waterborne transöport competitive with land transport in terms of costs, which we will now demonstrate in public transport in Stockholm.”

Joshua S. Hill is a Melbourne-based journalist who has been writing about climate change, clean technology, and electric vehicles for over 15 years. He has been reporting on electric vehicles and clean technologies for Renew Economy and The Driven since 2012. His preferred mode of transport is his feet.

We are definitely in an age of disruption, as much as the bashers, critics and cynics like to deny it. Amazing, 1/25th the cost of their ICE partner boat! And quieter, cleaner and calmer too boot!

Google informs me a litre of diesel is € 1.668, so that trip would have used ~450 litres of diesel, or 4,500 kWh. That’s shockingly inefficient.

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Ultralite 290

Roomy yet still compact

The goldilocks middle child – lightweight, roomy yet still compact. The jump up to a 15 degree deadrise means you can go further and, thanks to its aluminium hull, this is the perfect tender for worry-free beaching!

Key Features

4 Colour Schemes

Specifications

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Internal Length

Overall Width

Internal Width

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# of Air Chambers

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Package size for boat (l x w x h)

250 x 105 x 36.5cm

8'2" x 3'6" x 1’2", standard features.

• ORCA® Hypalon or PVC tube
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This boat is incredible!

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Starmer looks to Italy on how to stop migrant boats

Sir Keir Starmer has suggested he will study Italy's asylum processing deal with Albania as part of a "pragmatic" approach to tackling migrant boats crossing the English Channel.

Speaking to reporters, the prime minister said he had discussed the "concept" of Italy's deal during talks in Rome with Italian counterpart Giorgia Meloni.

Meloni said Sir Keir had shown "great interest" in the planned scheme, under which some migrants rescued in Italian waters will be sent to the Balkan country to have their asylum claims processed.

Sir Keir also said he was interested in Italy's model of paying north African countries to do more to stop boat crossings.

Starmer in Italy to discuss migration with PM Meloni

How many people cross the Channel in small boats?

He added that deals with Tunisia and Libya “appears to have had quite a profound effect” in helping Italy cut the number of migrant arrivals.

The Labour government has scrapped a Conservative plan to send asylum seekers on a one-way ticket to Rwanda, where they would only be able to apply for refugee status in the east African nation.

But it has indicated an interest in schemes under which migrants crossing the English Channel could have their applications to stay in the UK processed abroad.

Italy's right-wing government, led by Meloni since October 2022, is not a natural political ally for Labour leader Sir Keir, but he has expressed an interest in learning from its tactics to counter illegal migration.

Under its five-year deal with Albania, agreed last year, some migrants rescued by the Italian coastguard will be sent there to have their asylum claims processed in two centres funded and managed by Italy.

In a key difference with the Rwanda plan, those that succeed will come to Italy as refugees. Those whose applications are rejected will be detained in Albania until they can be returned to their home countries.

Only migrants from countries deemed safe by Italy - whose claims are more likely to be rejected - will be sent, whilst pregnant women, minors and other categories of vulnerable people will be excluded.

The scheme, which the Italian government says will cost €670m (£564m), was meant to start in August but has been delayed, with Meloni saying it will be "few weeks” before it gets going.

It has been criticised by some right groups, who have questioned how failed asylum claims could be properly appealed and argued it could leave people in legal limbo.

En route to Rome, Sir Keir said he was “interested” in learning about the scheme and later confirmed he had discussed it during his meeting with Meloni.

The prime minister also discussed the model with Albanian counterpart Edi Rama during a summit of European leaders in July, when he said he wanted to "look at what works".

Speaking at a press conference, Sir Keir said the impact of Italy's Albania deal was not yet clear because the scheme had yet to begin operating, but he had discussed "the concept of it" with Meloni.

It is not clear, however, how likely it is such a deal could be replicated.

Albania, which is seeking to bolster its longstanding application to join the EU, has suggested that such a deal is only with Italy, its closest ally in Europe.

'British pragmatism'

Sir Keir also underlined he was also interested in Italy's agreements with north African countries, which have emerged as important hubs for migrants attempting to make the journey to Europe.

Alongside the EU, Italy has granted Tunisia financial aid for education and energy projects in return for greater efforts to stop migrants crossing the Mediterranean.

It has an agreement with the UN-backed Libyan government, under which Italy trains and funds the coastguard to intercept migrant boats.

Both of those deals have proved controversial, attracting criticism from rights groups for the treatment of those stopped from crossing.

Sir Keir told reporters this work to stop arrivals "upstream" was a "more likely” factor than the Albania deal in explaining a 64% drop this year in the number of people crossing to Italy from Africa.

"Preventing people leaving their country in the first place is far better than trying to deal with those that have arrived in any of our countries, so I was very interested in that," he added.

"In a sense, today was a return - if you like - to British pragmatism.

"We are pragmatists first and foremost. When we see a challenge we discuss with our friends and allies the different approaches that are being taken [and] look at what works."

However, some Labour backbenchers have criticised their leader for seeking inspiration from Meloni's government.

Liverpool Riverside MP Kim Johnson called it "disturbing," whilst Nottingham East's Nadia Whittome said the UK should not be "taking lessons" from Italy.

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Italy's plan to process migrants in Albania has come in for criticism from human rights campaigners. But Sir Keir Starmer says some of the other work of the country's government has been successful in reducing boat crossings.

Political reporter @NifS

Monday 16 September 2024 15:07, UK

The prime minister has said the UK has moved "from a government of gimmicks to a government of pragmatism" as he attempts to tackle the small boat crisis.

Sir Keir Starmer is in Rome to hold talks with his Italian counterpart Giorgia Meloni about a range of issues, including irregular migration and her controversial plans to process asylum seekers in Albania .

Politics live: Starmer in Italy to learn from 'dramatic reductions' in asylum

Ahead of the meeting, he said her efforts had led to "dramatic reductions" of boat arrivals - around 60% - and he "wanted to understand how that came about".

But pushed on whether he would be seeking to replicate the Albania scheme, which has caused concern among human rights campaigners, Sir Keir insisted his focus was still on "taking down the gangs that run this vile trade".

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"We discussed the Albania arrangement, which is not up and running yet... therefore we don't yet know the outcome of it," he said.

"We discussed the concept of it, along with the prevention piece as well, because the numbers here, as I've said, have gone down quite significantly. That's actually not attributable, of course, to the Albania scheme because that hasn't started.

"That, in my view, is more likely attributable to the work that the prime minister has done upstream... with some of the countries where migrants are coming from."

He added: "I've always made the argument that preventing people leaving their country in the first place is far better than trying to deal with those that have arrived in any of our countries. So I was very interested in that.

"In a sense today was a return... to British pragmatism. We are pragmatists first and foremost, when we see a challenge, we discuss with our friends and allies the different approaches that are being taken, look at what works, and that's the approach that we've taken today - and it's been a very productive day."

The Albania scheme has been compared by some to the previous Conservative government's Rwanda deportation plan , which Labour scrapped days after it entered office.

But the main difference is those granted asylum after processing in Albania would then be allowed to live in Italy, instead of remaining in the third country.

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Pointing to his predecessor's plans, the prime minister said: "We've moved from a government of gimmicks to a government of pragmatism, and that means that I'm utterly focused on what I think is the most likely deterrent and effective way of dealing with unlawful migration, and that is to take down the gangs that are running this vile trade.

"Of course it's a problem when we've got people arriving into the UK who are arriving unlawfully across the Channel or any other routes. And of course, every government has the responsibility of making sure our borders are secure.

"But rather than a gimmick which, as you know, cost £700m to persuade four volunteers to go to Rwanda, we have gone down the road of pragmatism already."

Sir Keir said his government would instead focus on the work of its new Border Security Command - whose new chief was confirmed last night as former National Police Chiefs' Council chair Martin Hewitt - as well as sending people back to their countries of origin if they are not entitled to be in the UK and doing "upstream" work in the countries people are travelling from.

"That's what this is about," he said. "It's about the politics of pragmatism. The British are very good at pragmatism. It's what we've been known for over the years, which is seeing a problem and actually rolling up our sleeves and thinking through which is the most effective way to deal with it.

"Under the last government, in my view, we had a gimmick that didn't work, and cost an absolute fortune. And we're not interested in that."

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Sir Keir's visit is the latest in a series of trips around Europe as he seeks to reset relations with the EU post-Brexit, calling it a "new era".

It also comes after another 1,000 asylum seekers arrived in the UK after making the dangerous crossing over the weekend, with eight people dying in the Channel on Saturday night after their boat crashed into rocks off the coast of France.

Campaigners said the deaths were an "avoidable tragedy", and Amnesty International UK repeated calls for the government to create more safe and legal routes for asylum seekers to come to the UK.

A spokesperson for the group said: "The government should be trying to restore the UK's battered reputation on refugee issues by repairing an asylum system that's been deliberately sabotaged by successive home secretaries stretching back years."

But earlier, a Number 10 spokesperson said there were no plans to introduce more legal asylum routes to the UK.

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