Luxury Yacht Buyer?

Whether it’s your first time buying a yacht, or you are moving up to a larger luxury yacht, here are some facts you may need to know to help you on your journey.

Luxury Yachts for Sale | Mega Yachts & Super Yachts

What are the differences between luxury yacht?? Although no established rules exist as to what can be called a Superyacht, general belief considers this range of yachting to begin at 45-50 meters (146’-162’) LOA. The term Superyacht was first used in the early twentieth century for yachts measuring 24 meters (79’) and above LOA, but as private yachts grew larger and more elaborate, that threshold has steadily climbed upward. In some circles, Mega yacht and Superyacht have the same meaning, or have substantial overlap. Today, even yachts at 24 meters and above are referred to as Superyachts, if they have substantial amenities and capabilities.

The term Gigayacht has also become part of yachting terminology as builders continue to push the envelope regarding length and billionaire owners look for yachts with even more space and amenities. Although none are yet sailing the seas, the Gigayacht designation could refer to yachts over 200 meters (656’) LOA. The world’s largest yacht is Azzam at 180.6 meters (593’) LOA, owned by the Emir of Dubai.

Many, although not all, yachting industry experts now apply the Superyacht designation to boats with a minimum LOA of 45 meters (148’). Shipyards typically construct boats at the lower end of the Superyacht range with three or four decks and accommodations for 10 to 12 guests, with a similar number of crewmembers.

Layouts in this range encompass a lower deck, main deck, upper deck and sun deck, which is the uppermost deck, usually reserved for relaxation and sunbathing and often a Jacuzzi. The lower deck features a swimming platform and four to five en-suite guest cabins aft and crew quarters forward, separated by an engine room amidships. On the main deck, one will usually find an entrance in the middle of the ship, the owner’s suite forward, often with several rooms. Other main deck features are a saloon, dining rom and galley. The supper deck usually has a sheltered area for al fresco dining, a sky lounge or second saloon, the bridge and the captain’s cabin.

Onboard features per the owner’s wishes can also include a gym/massage room and an additional guest cabin. State-of-the-art televisions, audio-visual systems and satellite communications are also commonplace. Buyers typically want ne or more tenders for shore excursions and a variety of water toys such as wave runners, wakeboards, tubes, waterskis, snorkeling equipment and more, per their interests.

Since the beginning of the 21st century, very large luxury yachts of 60 meters (197’) have become increasingly common. Yachts of this size are almost exclusively custom construction, although shipyards sometime begin construction on spec and find buyers later. Larger Superyachts generally have one or two decks below the waterline and four above. Buyers also request helicopter landing platforms, or helipads, with accompanying aircraft storage.

Everything about yachts of this size is bigger. In addition to more cabin accommodation for guests, one can usually find at least one VIP suite with additional amenities that may be close to or even equal to those found in the owner’s suite. Some of the options available in larger Superyachts can include, but are not limited to beauty salons and an entire suite of wellness facilities such as sauna and steam rooms, medical center, entertainment areas like a cinema and disco, infinity and plunge pools, additional indoor and outdoor dining and wet bar areas, children’s play areas, libraries, private sitting rooms, etc. You’ll also find additional water toys on yachts of this size.

Luxury Yacht Prices for Florida, California, USA

In 2017 in the United States, 373 yachts of 24 meters and above sold in the United States, with an average sale price of $8.8 million USD. Only 32 of those measured more than 50 meters. Fort Lauderdale is a great place to being your search for a luxury yacht or luxury boat or luxury sailing yacht as it continues to be the yachting capital of the world as nowhere else will you be able to see so many yachts in a single day. I always recommend getting aboard as many a possible Coastal California is a close second. I often schedule showings for my clients yachts prices or price of a yacht, that are either above or below their price range, or of a type of vessel they hadn’t considered. While the photographs used to promote a superyacht are generally detailed and complete, nothing beats the experience that an in-person viewing provides. Sometimes the experience merely reaffirms the client’s choice, allowing them to purchase without hesitation. At other times, viewing multiple boats completely changes clients’ specification for their ideal yachts.

Miami Luxury Yachts

Depending on traffic, Miami is just 45 minutes south of Ft Lauderdale, and generally has a good selection of luxury yachts for sale, making it worth the drive to see one or two possibilities. While South Florida is a great place to start and narrow down choices, buyers will usually go a little farther afield. Driving to the west coast of Florida, or even flying to an international location, is sometimes necessary to find the best deal. Those that are off the beaten path may be ripe for an offer. More on negotiating below.

Luxury Motor Yachts

When it comes to the world of luxury motor yachts, the larger the boat, the more likely it will be a one-off or a unique creation. Smaller luxury yachts are often production boats, much like track houses, where only small variations in design are allowed. Of the larger boats on the market, many are semi-custom designs, meaning that major changes are allowed to certain areas of the yacht.

Custom boats start with a clean sheet of paper and an idea to build a Superyacht to a specific set of specifications. Every custom yacht is unique in terms of size, superstructure, hull form, superstructure, features, interior arrangements, etc. Custom Superyachts can begin life as an idea from an owner, but more likely start as a concept from one of the handful of international Superyacht design houses, working in conjunction with a specific shipyard and naval architect. Everything about the boat, from its hull line, laminates, seaworthiness, electrical and mechanical systems, interior and exterior design and layout is built to order. These yachts are the most expensive ships, running into the hundreds of millions of dollars. The world’s largest superyachts are all custom efforts.

Semi-custom Superyachts are a faster and less expensive way to build a large private ship. These start with a specific platform for the hull and superstructure and allow for a variety of differences, which vary from builder to builder. Savings result over custom projects as basic engineering, naval architecture and design are the same among every boat in the range. Semi-custom Superyachts allow for the movements of structural bulkheads to accommodate interior layout and give owners a choice of engine specifications to power the craft. Many amenities are included at the discretion of the owner as well interior and exterior design.

Luxury Yacht Brands

The world’s most famous luxury yacht brands are either full custom or semi-custom manufacturers with large manufacturing facilities that include dry dock sheds featuring temperature-controlled construction and direct access to the ocean for launches and sea trials. Many have their own in-house naval architects and interior and exterior designers and are responsible for many of the most iconic Superyachts ever constructed. Shipyards specializing in luxury motoryachts are found all over the world. Following are some of the word’s most notable builders and their locations.

Northern Europe: The world’s largest custom Superyachts that push the envelope, both in terms of size and technology, come from this area, with German yards Lürssen and Blohm+Voss and Abeking & Rasmussen leading the way. The Netherlands, long a naval center thanks to its tradition of trade and exploration, is home to several well-known and innovative brands that include Oceanco, Feadship, Heesen, Amels, Moonen and a number of smaller manufacturers. In the United Kingdom, Sunseeker and Princess Yachts have become established names.

Italy: Building on a long seafaring tradition as well as a penchant for the best of everything, Italy is a hotbed for construction of luxury superyachts. Buyers can find a range of sizes, beginning with models under 30 meters, mid-size semi-custom boats and fully custom large Superyachts with every possible amenity. The peninsula has a plethora of manufacturers, many of which specialize in line of semi-custom yachts that appeal to many different segments of the market.

For Superyachts in virtually any size range, Ferretti Group and its various divisions build a wide range of luxury boats. Superyacht design and production companies in the group include Pershing, Ferretti, Itama Cantieri Navali, Riva and CRN, with the last division building Superyachts up to 120 meters (394’) LOA. The group has extensive shipbuilding facilities in Ancona, Forli, Cattoica, San Giovanni, Mondolfo and Sarnico.

Other notable Italian Superyacht builders include Fincantieri, Cantiere delle Marche, SanLorenzo, Perini Navi, Azimut, Benetti, Admiral and Baglietto.

Turkey and the Middle East: Another area that draws on a long seafaring tradition is Turkey and the Middle East. Both areas have increased production significantly over the last decade. Turkish facilities are concentrated near Istanbul and include luxury Superyacht names such as Turquoise, Tansu and Bilgin. Sarp Yachts is located in the southern Turkish free zone of Antalya.

The Middle East is home to many of the world’s largest luxury Superyachts, a fact that has resulted in a boom in shipyards in this area because of the concentration of ultra wealthy people who live there. One of the biggest players is Gulf Craft, based in the northern emirate of Umm al Quwain, specializing in semi-custom boats up to 47 meters (154’) LOA. Majesty Yachts is another large regional manufacturer.

United States: Although the United States has a high number of luxury yacht builders, most of the manufacturers specialize in smaller watercraft. For buyers who don’t want to go too far afield, however, a handful of shipyards producing custom and semi-custom luxury Superyachts are located on the West Coast. Seattle, WA, sports Christensen and Delta Marine, while Nordhavn is in Dana Point, CA. On the East Coast, Westport and Derektor have construction facilities in Ft. Lauderdale, FL, while Hatteras is located in North Carolina.

Luxury Yachts For Sale

Want to know more about buying or selling a luxury yacht? Read on for how you can make the deal easier.

Buying a Luxury Superyacht:

Whether you are buying a luxury Superyacht for the first time, or are an experienced owner, you have a number of considerations. Most likely you have an idea of the kind of design and equipment you want, yet there are strict rules about the purchase that you have no idea how to navigate. Working with a Superyacht broker will not only smooth the transaction, but also show you possibilities that you hadn’t previously considered.

At any given time, literally thousands of yachts are on the market worldwide. Many first-time buyers purchase a yacht that has already plied the seas for several years, often changing interior design and then renaming the vessel. Not all luxury motoryachts for sale are publicly advertised, but brokers are adept at finding and completing private sales. Luxury Superyacht brokers not only perform these transactions, but can also help facilitate contracts between shipbuilders for semi-custom and custom Superyachts.

The process of buying a Superyacht follows a standard sequence. Determining what type of yacht fits your needs, including size, performance requirements, guest accommodations, range and other details is the first step. Other steps typically include:
• Search and selection
• Making an offer
• Offer acceptance
• Performing a survey to determine the condition of all mechanical, electrical and electronics equipment
• A sea trial, usually at the seller’s expense to establish the yacht’s performance under normal conditions
• Acceptance of the offer and 10% down payment
• Closing

Signing on the dotted line and delivery is not the end of the process. While negotiating for your new home on the water, you’ll also have to deal with:
• A detailed document called the Memorandum of Agreement (MOA) when buying an existing yacht that outlines the rights of the buyer and the seller, all equipment included in the sale and a statement that the yacht will be transferred without debt
• A Build Contract when ordering a new yacht from a shipyard that includes the total cost of construction, installment payments, the yacht’s specifications, where it will be used, the flag it will fly and a guaranteed warranty
• Obtaining a home mooring berth
• Purchasing insurance

Selling a Luxury Superyacht

Selling your current luxury motoryacht can also be complicated. While a number of websites list yachts for sale, you need to develop an aggressive marketing campaign to make sure the right audience knows that your boat is for sale. Even if you prefer not to advertise, you still need an aggressive plan for selling your Superyacht. Although it is possible to sell a luxury yacht on your own, the boat may stay on the market for a longer time than if you enlist the services of a yacht broker.

One of the most important aspects of selling is to determine a fair asking price. By working with professionals who have access to pertinent data and understand the market, your boat is more likely to sell in a timely manner. Preparing the right advertising strategy so your listing will reach the most appropriate audience is also crucial. Much like a real estate broker, a yacht broker will prepare materials that describe your yacht that can include photographs and video showing features to entice buyers. The strategies and placements used to sell a Superyacht at the smaller end of the range will be much different than marketing a custom-built vessel with a helipad. Strategies can include not only placing listings on appropriate websites but also showing the yacht at appropriate shows such as the annual Fort Lauderdale International Boat Show (FLIBS) and connecting with brokers who may have interested clients.

Much like a selling a home, you’ll also have to prepare your yacht for sale by identifying improvements to make it more competitive. Think of the process as a staging. Once an agreement has been reached, you’ll also need to schedule a survey and sea trial and may have to address possible deficiencies before closing the sale.

Luxury Yachts with Helipads

As luxury superyachts grew larger, so did the number of yachts with of helipads. At first, only the largest incorporated helipads as the beams of smaller watercraft often were not sufficient to support the aircraft. Technology, demand and design have changed over the last decade as helipads are now frequently incorporated into mid-size Superyachts. Some of the smaller yachts are frequently explorer vessels and may have what are termed touch-and-go helipads without dedicated space for storage and can also be used for outdoor entertainment purposes.

Why helipads? For one, on the largest Superyachts, virtually everything bigger is better. That concept also means including more high-end amenities, of which one or even two helipads, and sometimes aircraft storage hangars are part of the equation. For some Superyacht owners, using a helicopter is a matter of speed and conveniences, especially in ports where larger ships are unable to dock. A helicopter can whisk guests to a landside pad in much less time than it takes a tender to transport them to shore. Privacy and security are other considerations as the owner and guests can be transported in secret. Owners can also conduct important business meetings on board by transporting pertinent business officials.

For others, especially owners of explorer or expedition yachts that can travel the world for weeks at a time without stopping at a port, the considerations are more practical. Helicopters provide emergency medical attention and transport when necessary or resupply the yacht with equipment, fuel and supplies on a long voyage without making a stop in port.

As one would expect, the world’s largest yacht, the 180-meter (590.5’) Azzam, launched by Lürssen in 2013, has a massive helipad on her foredeck. The world’s second largest Superyacht, the 162.5-meter (533’) Eclipse, owned by Russian oligarch Roman Abramovich, has three helipads. Dubai, 162 meters (531’) can accommodate a helicopter weighing 9,150 tons.

Many other luxury Superyachts have helipads. Consider Oceanco’s 81.27-meter (266.6’) Alfa Nero. Its pool floor rises up to become the yacht’s helipad. Lady Christine, a 68-meter (223’) Feadship Superyacht, had its layout built around the helipad, which opens up onto an enclosed sundeck for dining and drinks. Another interesting helipad is on board the 72.25-meter Cloudbreak, built by Abeking & Rasmussen and designed by Espen Øino, which has a cinema next to the helipad. Why? This Superyacht is often used for skiing vacations and guests can retire directly to the cinema to view their day’s efforts on the slopes.

Luxury Yacht Negotiating Tactics 101

Whether you are buying or selling a luxury motoryacht, one fact holds true: the price of every boat is negotiable. Sellers want to get the most possible money for their yacht, while buyers want the cheapest price. The point of negotiations is to arrive at a fair price for all involved. Another point to remember is that every sale is contingent upon a survey and sea trial, yet before you get to that point, you’ll already have gone through hours of negotiations. These tips will help you become a good negotiator, no matter which side of the table you’re on.

• Educate yourself. For buyers, know the value of the type of motor yacht you’re considering. Do research on similar boats and bring the information to the negotiations. All types of yachts are emotional items and owners tend to think they are worth more than they are. Using a broker in negotiations takes away the emotional element.

Similarly, if you are selling your yacht, get a fair market assessment before you start negotiations. Not only do you have to set a fair asking price, you should also know when it’s time to lower it and what your rock bottom price is.

• Don’t include electronics in the value. When buying a previously owned yacht, you’ll find you don’t care for the current electronics or that they are outdated, so your will replace them.

• The survey will come back with findings that can cause negotiations to turn testy. Assume that this will be the case. Knowing that you’re likely to face this possibility will make you better prepared. Turn the negotiations over to your broker at this point to tone down the emotional factor.

• Set a time and place for accepting or tendering an offer. Realize that the initial offer probably won’t be the yacht’s final selling price. You’ll still have at least one or two counteroffers to consider.

• Price isn’t the only part of the deal. Other factors such as financing and delivery are all negotiating points.

Buying Luxury Yacht Insurance

Purchasing a luxury yacht insurance policy is much different than buying a policy for your home. Make sure you work with an insurance agent who specializes in marine insurance. As a Superyacht owner, you need to protect yourself and ensure that you fully understand your insurance policy as it is a complicated document that is, in essence, a multi-million dollar contract. Policies generally have into “all-risk” or “named perils” coverage. With an “all-risk” policy the onus is on the insurance company to prove that an exclusion in coverage occurred when you submit a claim. The opposite is true with a “named perils” policy as the onus is on the yacht owner. Be aware, however, that no marine insurance policy will cover everything.

Seaworthiness is also a condition of obtaining coverage required by many insurance companies. Some insurers require proof of a survey before issuing a policy. Other special provisions included in yacht insurance involve requirements for qualified captain and crew and named operator limitations. Carefully review what your policy covers when going in for a refit as many shipyards have begun to limit their liability, particularly when work involves welding or similar measures. Towing provisions for your motor yacht or one of its tenders is another area that deserves close attention. If you’re planning on cruising out of your home area, make sure the policy covers mishaps regardless of where they occur.

Luxury Yacht Charters and Rentals vs. Buying a Yacht

For individuals who have never owned a boat, considering whether one should pursue luxury yacht charters and rentals versus buying a yacht is a valid question. Owning a Superyacht is an expensive hobby, one that is more akin to running a business. Whichever way you look at it, buying one is an emotional proposition that must be weighed against the realities of ownership. That’s where chartering or renting a luxury Superyacht comes in. One can still live the Superyacht lifestyle without the added expense.

Renting a luxury Superyacht is a good way to determine whether you really want to own your own private boat or are unsure what type you want. By taking charters you can try Superyachts constructed by different boatbuilders, peruse amenities and see what it’s like to regularly interact with crew. If your experience is positive, you’ll have a good indication of the size, type and layout that you want. Chartering is also the route to go for individuals who have trouble justifying the expense and the hassle of owning a large Superyacht.

If you’re someone who takes pride in owning gorgeous vehicles, owning a luxury Superyacht allows you to everything you want as you can personalize your home on the water. Having your own motoryacht can give you a more personalized experience with the sea. It’s yours, not someone else’s and you can spontaneously sail for parts unknown, which is something you can’t do with a charter yacht.

Chartering or Renting a Luxury Yacht? When to Go

Several factors figure into when the best time is to charter or rent a luxury yacht. These include your specific destination, weather, personal preferences and even your budget. All popular charter areas have high and low seasons. High seasons are often determined by weather patterns and temperatures and usually indicate the busiest periods

Many charter yachts stay in areas that are warm all year, including the Caribbean and Florida. With that in mind, if you’re looking to go to a colder region, you may have to reserve your charter quite a long time in advance as fewer charter boats are able to handle colder weather.

Renting a luxury Superyacht during low season has its advantages as prices are lower and ports won’t be as crowded. In addition to Florida, the Bahamas and the Caribbean, popular yachting destinations include the Mediterranean, Northern Europe, Thailand and the South Pacific. Research your destination before making a commitment, especially if you plan to go during off-season to avoid extreme weather.

Florida Yacht Broker

Working with a Florida yacht broker specializin in yacht sales, can make the entire process of buying or selling a luxury motor yacht much easier, as these professionals have extensive knowledge on all aspects of the industry. Choose a broker who is a member of one of the major associations such as the International Yacht Brokers Association. The professionals at 4Yacht fit the bill. Contact us at 954-767-0220 to get started on your journey.