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How Do I Choose the Best Cheap Yacht?

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  • Written By: Dan Cavallari
  • Edited By: Bronwyn Harris
  • Last Modified Date: 08 November 2016
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A yacht is a boat used for recreation, and the size, shape, and function of the vessel can vary significantly. Choosing the best cheap yacht starts with determining how you are likely to use the boat, as well as where you will be launching it. Some boaters will be best served by a small sailboat, while others may prefer a much larger, motorized boat. Think carefully about what kind of cheap yacht you want, as well as what you are willing to pay for it. The best place to start looking for such a vessel is at a yacht auction.

Yacht auctions will allow you to inspect and potentially purchase a cheap yacht that suits your needs. The boats being auctioned can come from a variety of sources: some boats will be damaged, which will drive down the cost; other boats may be repossessed boats that are being sold by financial institutions attempting to recoup their costs. Some yachts may be owned by someone who has upgraded his or her vessel and wants to sell the boat to get some money back. Attending a yacht auction is perhaps one of the best opportunities to get a cheap yacht, but you will need to consider the vessel carefully before bidding; damaged boats will require some extra refurbishing costs, thereby adding to the overall price of the vessel.

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Another way to find a cheap yacht is to talk directly to a dealer. Very often a yacht owner looking to upgrade his or her vessel can trade in the old yacht toward the purchase of a new one. Dealers will therefore have used yachts on hand that will be for sale much cheaper than new ones. While buying from a private seller is likely to save you money up front, you may be able to get a warranty, service agreement, or return policy from a dealer, and many dealers will do a thorough inspection of a vessel to ensure it is seaworthy before selling it. Buying from a private seller includes no such guarantees.

If you want to use a cheap yacht only at certain times of the year, a yacht charter service may be appropriate, or a yacht sharing agreement. A yacht charter is a company that essentially rents out a yacht for a set period of time, allowing you to enjoy the vessel during that time and take responsibility for the boat only during the rental period. A yacht sharing agreement means you will purchase or lease the boat along with other boaters, and each owner will get to use the vessel for a set period of time.

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