Purchasing a Yacht - Part Two

7.     Is it better to try the boat before buying?

This stupid question, “top” question, I found on the net recently, mingled with the process of buying a yacht. You, what do you think? Is it better or not? In some beliefs, especially in the Muslim world, it is not recommended for the groom to try the wife to be, before wedding. One might be shut, or open up if so. But a yacht? You have to trip it as long a distance as you can buy (metaphorically speaking) from the “broker”. A free tip. It’s strongly advised to check the boat without other clients on it. I’ll explain later.

8.     Are the brand names important or not, when buying a yacht?

Only if you are in the “over 10 Mil” Category. Depends on what you’re ready to throw the money on: the label, or the guarantee coming with the label. Anyway, everything is limited.

9.     How to find a good crew?

One can find a good crew by searching it. There are forums, there are specialized sites, you can web chatting them and if you like them, you can call them. Referrals work too, but you need to test them. If they can figure what is what, they have potential. Why? The real good crew, is already employed for Johnny Depp or Mr. Abramovich. Of course I'm joking, there are a few left for you to pick up.

10.     Where to keep the yacht after I bought it?

The question must be reformulated like this: “Where am I going to keep a yacht if I’m going to buy one?” It is a good question. Some are saying that you'll be fighting the crowds in the Caribbean each winter and the Mediterranean every summer. I say, go in Turkey. I’ll show you why and how.

11.     What costs me to run the yacht?

Depends on how big it is, depends on the type, if it’s mono-hull or a catamaran, and depends on the category you are a part of. Can be up to even a Million Euros nowadays, as some “broker” advised recently on an American site. Depends, I repeat.

12.      Is it better to charter my yacht or not?

If you got the money Ma'am, Sir, you don’t have to rent it, otherwise, you can shoot some extra for maintenance and crew salaries if you’re chartering the boat. Don’t be shy with friends either. Prices depends on your nerve more, on the quality less.

13.      How much can be the insurance and if it is necessary?

One can hope that if he’s not insuring the house, maybe he got lucky and no fire or earthquake will destroy it, no thief will empty the safe and take the other valuables. Maybe depends on the neighborhood to insure or not, a house.

With a yacht, is different. It has to be insured, there is the sea, there are a lot of other factors, you scratch it, immediately sue the insurance company to pay, and so on. Later about insurance and amount.