What to Check When Buying a Yacht
Unlike a car, buying a boat means taking on a commitment far beyond the purchase price. Clarify these points before signing anything.
1. A survey is essential
An independent surveyor will haul the boat out and report on the hull, engine, electrical system and safety equipment. The fee is around 0.1% of the sale price and usually pays for itself many times over.
2. Flag, registration and encumbrances
Verify the registry entry, whether any lien or seizure exists, and the VAT status through the official documents. For foreign-flagged boats, import costs are a separate line item.
3. Engine hours and service history
On marine diesels, 3,000–5,000 hours is a serious overhaul threshold. Ask for the maintenance log, oil analyses and spare-part invoices.
4. True running costs
- Marina berth — usually the largest annual cost, depending on region and length
- Winter storage, haul-out and antifouling
- Insurance (hull plus third-party liability)
- Fuel, crew and scheduled maintenance
A common rule of thumb: annual running costs are around 10% of the boat's value.
5. Sea trial
Start the engine from cold, run at full cruising speed, test the steering and windlass, and watch the generator load with all electronics switched on.
6. Room to negotiate
Buying at the end of the season (October–November) favours the buyer. Defects listed in the survey are your concrete basis for negotiation.
7. Transfer and handover
Payment, transfer of registration and physical handover should happen at the same time. Make the deposit agreement conditional on the survey: if the report is poor, the deposit must be refunded.
