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Used Yacht Buying Guide
When purchasing your next yacht, you may wonder – should you purchase a used yacht nearby or search globally? For example, if searching in Fort Lauderdale, there are hundres of small and large used yachts for sale in your area, but if there is a better deal on the other side of the world, are you willing to wait four to six weeks to get it delivered, or do you want to get the luxury yacht immediately? These and other boat-related questions will facilitate your search by narrowing it down to your needs. As yachting becomes more in demand, you shouldn’t have trouble finding superyachts for sale near you.
Buying a Used Yacht with Ease
Buying a used yacht is one of the most exciting experiences. If you are passionate about yachting like us and focus on a precise yacht search, you will soon find the perfect small or large yacht for sale of your dreams near you.
Consider used motor yachts for sale under 100K for a swift purchase. No waiting period, immediate access to top brands. Explore brokers from 1 Ocean Yachts, through to HMY Yacht Sales, all the way to Zwaans International Yachting Division. You can start your search for a yacht broker near you here.
Ready to Hit the Water When You Are
Used yachts are proven to perform well, as they have been on the water for some time already. You should buy a used yacht if you are looking to purchase something that is reliable, and ready to hit the water when you are. Used yachts, depending on the type that you purchase, can be ideal for day cruising, fishing, enjoying water sports, and just relaxing.
Invest in Your Joy
When purchasing a used small or large yacht, you are investing in your enjoyment. You can travel to places you never thought possible and have adventures with friends and family that will leave you with memories to last a lifetime. Buying a used sailing or motor yacht is a wonderful way to extend your time outdoors and enjoy your time on the water. If you’re looking at superyachts, giga or mega yachts for sale, this is even more true as you can go further, more comfortably, with more people and even full-time yacht crew.
Tested and Proven
Large or small used yachts are ideal for purchase due to their reliability. A used yacht has been tested over and over again by their current yacht owner and have likely been maintained to a high standard due to their investment in the yacht. If you are looking to buy a used luxury yacht, it is important to look into the many different yacht brands and builders out there to research which ones have built proven hulls that last. Looking into the yacht brand or builder will also help determine which style of motor or sail yacht you prefer to buy.
If you are looking to purchase a used yacht, some questions to ask yourself are:
- What is your intended use for the yacht?
- Will you plan to just cruise locally?
- Are you looking for an ocean-going yacht?
- Do you plan to travel extensively with friends and family?
- What brands include all of the right answers to the above?
These are important details to consider when looking to buy a used small or large yacht. They will help you determine which style yacht is best suited to your lifestyle.
Narrow Down Your Preferred Yacht Style
There are many types of yachts for sale, so it’s important to narrow down your search by intended use. The next question to ask yourself is, what is your yachting style? Are you looking for speed and thrills or are you looking to enjoy and take in your surroundings? This will determine the hull type you want – if you are looking for speed, then perhaps a used sport yacht is more your type, but if you are looking for a slower cruise, then maybe a trawler yacht will be best suited for your needs.
Exclusive and Central Yacht Listings Only
YATCO promotes exclusive or central yacht listings only. This policy lets you contact the official central yacht broker straight via phone or through the contact form found next to each used yacht listing. The Central Agent is the individual who gives you real-time information about the used yacht sales listing you are interested in purchasing. Our YATCO MLS gives you access to thousands of yacht listings. That is why we recommend you set limits when you begin your boat search. The more filters you put, the more precise your results will be, and the easier it will become to make your choice and find the perfect yacht.
When purchasing a used yacht, it is important to work with a yacht broker who has experience in helping to buy and sell vessels. Experienced yacht brokers have been working to buy and sell vessels for their entire career and have invested in the knowledge of used yachts. Working alongside a yacht broker is highly recommended, whether you know what you want or aren’t too sure in which direction you should go.
What is the Average Price to Buy a Used Yacht?
The average price of a used yacht will depend on a few things:
- Loan conditions
For example, if you’re looking at a smaller 30ft five-year old Boston Whaler, you could be looking at a price of around $500,000; while a 100ft 2020 Sanlorenzo will cost over $10 million. We will explore some common boat and yacht sizes and what their average prices are.
How Much Money Should You Have to Buy a Used Yacht?
How much money you should have available before purchasing your used yacht will depend on a few things.
- Size and therefore price of your yacht – as the size increases, so will your budget.
- Payment plan – are you paying for the yacht outright or will you need a loan? If you need a loan, most lenders will expect around 10 – 30% down depending on the yacht’s age and condition, and the remaining paid in instalments, plus interest so it’s important to calculate what you can afford upfront, and down the road.
- Don’t forget about maintenance costs – these are the annual running costs of your yacht which can be around 20% of the purchase price of the yacht so you need to factor this into your overall budget as well.
What is the Average Price of a Used 50ft Yacht?
In the 50ft yacht range, you’ll come across larger boats that can do a lot more than day cruising. A 50ft yacht will come in a range of prices and budgets, so there will certainly be something for your price point. YATCO has several 50ft yachts for sale with some as low as $40-50,000, while others can be exponentially higher at $3 million. For a slightly newer small yacht model, in fairly good shape though, you’ll likely be looking at a budget of $250,000 and up, so it’s important to consider what is the perfect yacht for you with the price tag to match. When highlighting prices, it’s also important to differentiate between motor yachts for sale and sailing yachts as these prices will differ.
What is the Average Price of a Used 60ft Yacht?
As we move up in size, so too does the budget and access to what is available. A 60ft yacht will offer greater deck space, more spacious cabins, a larger galley and salon and usually more horsepower. With an ever-growing database of used yachts for sale, YATCO has many 60ft yachts currently for sale. You likely won’t find a 60ft yacht for less than $200,000 for sale, with many costing over and above $4 million. On average, 60ft yachts will cost you around $1 million, but don’t forget, at this size range, you’ll likely require a small yacht crew to help operate the vessel, so this needs to be considered in your overall budget, due to the running costs of the small yacht.
What is the Average Price of a Used 70ft Yacht?
By the time you upgrade to a 70ft yacht, you’ll certainly be in yacht crew territory, so you’ll have a larger yacht exterior and interior to accommodate your own guests and your crew members comfortably. While you may find some 70ft luxury yachts for sale for less than $500,000, you should expect closer to $1.5 million on average, with many costing well over $5 million. For the latest selection of 70ft yachts for sale, place check the YATCO database.
How Much Does it Cost to Own A 100 Foot Yacht?
At 100ft, you become a true superyacht owner, with the price tag and running costs to match. You will have a full-time crew, and plenty of options available. Depending on the age and condition of your 100ft yacht, you can expect to pay anywhere from $900,000 to over $10 million.
Best Used Yacht Brands
- Princess Yachts
- Sabre Yachts
- Viking Yachts
- Ocean Alexander
- Prestige Yachts
What is the Resale Value of a Used Yacht?
Yachts do not have the same resale value of an investment like a home; however, if you invest in a reputable shipyard and maintain your yacht, you can still make a good return on your investment. Most yachts will resale anywhere from 40% of their purchase price at the lower end, up to 75% at the higher end.
Are Used Yachts a Good Investment?
As the old adage goes, “the best days of a yacht owner’s life are the day they buy the yacht, and the day they sell it.” Unlike real estate, but more akin to a car, used yachts for sale do depreciate the moment you cast off from the dock. However, not all investments are measured in money. The stress release you’ll feel when you step onboard; the ability to go wherever you want, whenever you want, for as long as you want, as long as you steer your yacht in the right direction; the memories made onboard with family and friends; are all just a few of the returns you can expect to make on your investment. Not to mention the locations you’ll discover on your luxury yacht from New York to Fort Lauderdale, and from France to Australia, the world is your oyster.
If you’re looking to make your yacht work for you, chartering your yacht is a great way to make some money back and put it toward maintaining your yacht. The perfect yacht is waiting for you – you just need to follow these guidelines to get the one best suited to you and your needs.
Is it Expensive to Maintain a Used Motor or Sailing Yacht?
Most experts will agree that to maintain your small or large used yacht annually, you should expect to pay around 10-20% of the purchase price to stay on top of necessary maintenance costs. This is why it’s so important to work with a trusted broker when you start searching for a used yacht. You want to be sure that you purchase a used yacht you can afford now, but also can maintain – from staying on top of regular upkeep for electrical equipment and oil changes to potential refits and yacht crew wages, you’ll want to consider future costs as well when looking at luxury yachts for sale. Different vessels will have different maintenance requirements as well – with sailing yachts there will be rigging and sails to maintain, while motor yachts for sale will have larger engine rooms and (usually) come in larger sizes with more things to consider.
Can You Permanently Live on a Yacht?
Yes, many choose to live on a yacht permanently. Whether it’s to save money on rent or a mortgage, or simply to live a more minimalistic lifestyle with the ability to cast off and travel around the world whenever you want! YATCO has a number of liveaboard yachts available for sale should you want to peruse the option of living permanently on a yacht and find the perfect yacht to create your floating oasis on. Whether you’re looking at sunny climates like Fort Lauderdale and California, or living the yacht life in Italy and Spain, there are some beautiful locations you can set up a home on the walter.
What Size Yacht Can Cross the Atlantic?
While some people have been known to cross the Atlantic in boats as small as a personal rowboat, most would encourage you to use a small yacht of at least 30 feet, but the perfect yacht is ideally 40ft and over which will make sure you have a much safer and more comfortable crossing. Whether you’re looking at motor yachts for sale, or other sailing and superyachts for sale, you’ll want to look for those that are capable of long-range cruising for an Atlantic Ocean crossing. Please find here YATCO’s article on ocean-crossing vessels for more information.