One of the best way to get into boating is by buying a used yacht and allowing others to see their depreciation hit on the new yacht. As a matter of fact, before buying a used motor yacht, one needs to go through some planning and details. Many customers have learned bad lessons by not realizing precisely what to search for in a used motor yachts for sale.
There is a famous quote for boat owners, “the two best days in the life of a boat owner are the day of purchasing the yacht and the day when they sell their yacht”. If one is thinking of buying a used yacht, one should keep in mind that the seller wants to get rid of that for some reason.
Research: Find the horsepower, type size and brand of yacht one wants.
a. Study the brand and its position in the variety of used yachts that one is finding. As an example, find whether it is a reliable brand, is it low priced? Where does the brand stand in the market? Is it still in production? Companies with higher production usually sell for a lower price than the huge marquee brands belonging to any category of yacht which will usually be lesser in number. One needs to know the value of brands in the area.
b. Go through the status of the engine which could be; say a masterpiece or obsolete or dysfunctional. Does it carry some other issues? For example, an old two stroke diesel engine is not supposed to be as good as a four-stroke diesel engine. EFI engines are faster to ignite and they are usually more fuel efficient than the so called carburetted engines. The boat with the less demanded engine is expected to be less costly and one must think if the money expended in buying the used yacht (http://www.wisegeek.com/how-do-i-choose-the-best-used-yacht.htm) is worth the compromise in performance and repair costs.
c. History say that generally yacht owners have purchased the largest boat they can go for, but one must remember that almost everything will cost more while using a bigger yacht.
Inspect Carefully: One must be aware of the hints of damage, bad construction and abuse. Check for the obvious, for example the gel coat and upholstery. Look for the upholstery too. If the above is not maintained, there is a huge probability that the rest of the yacht has not attained much love and attention either. Can one see the cracking of the gel coat cracking and spider web at the corners? Inspect whole of the deck for any soft spots. If the deck is not upto mark, leave immediately. See if the engine room is rusty, or there is oil under the engine. Also, check the water lines under the yacht or on the engine. This shows that the boat has flooded before. If the parts of the exterior paintwork and gel coat are badly matched, then that implies that the yacht had met an accident previously.Inspect the control cables and make sure that they are working properly. See the sea cocks and the hatches and open and close it to affirm that it is working sound. Water marks inside the hatches signifies that these are not water tight anymore. Test all of the systems which include the bilge pumps, stove, generator, winches and AC.Hardware must be firmly attached along with the electrical items and connections that is supposed to be rust free.
Get to know the owner’s background: The best yacht to buy would be from a reliable source such as a good folk. Deposit money must be held confidentially by a trusted third party till all of the paperwork is finished. The yacht might be stolen or the seller might steal the deposit and vanish. Confirm the real address of the seller. Get a contact number from them and make sure it works. Visit both the boat and the owner’s home in person. Check the contact details such as email address. It would be better if the buyer visits the seller’s home personally.
History of the Yacht: One must be enlightened with the source of the boat before buying. There are supposedly best deals out there. In a nutshell, boats used by a single owner are a better option than the ones that have been through different users. Keep the copies of the title or documentation and sales receipt. Get the maintenance records. Most importantly, make sure that the seller is the real owner of the yacht.