People, planning and preparation
A stitch in time saves nine – on a superyacht scale. Explore the importance of robust planning for your luxury yacht dream.
Surrounded by savvy
As with any major investment, it pays to surround yourself with the right people from the outset to help with purchase preparation. Long-range planning is too frequently ignored in favour of instant gratification and ‘getting on with the job’, but creating the right plan should appear first on any aspiring owner’s tick-list.
Potential owners who are less well versed in the business may fail to realise the value of a purchasing plan which will ultimately save them time and money, and can help prevent common pitfalls along the way.
Plans do not just happen, they are the product of human input. The better the credentials of the contributor, the greater the plan’s chance of success becomes. The good news is that the superyacht industry is well endowed with experts who can assist the owner with plan creation; ensuring that they are right for the task in hand is by far the trickier part.
To build or buy?
The first dilemma in the yacht purchasing process is whether to buy old or new. Starting afresh is the perfect opportunity to create a dream vessel from scratch but if new to the industry, you might not know what is feasible and what is not. Chartering one or two superyacht styles in advance may help with the decision-making process.
With thousands of models on the market – ranging from custom and semi-custom build to full production and everything in between – first-time owners should consider visiting a selection of yards to carry out their own research before a choice is made.
Owners seeking to buy a production yacht can rest assured that the building company will have worked with its own chosen designers and naval architects to ensure the yacht is both safe to go to sea and is of a practical nature. Owners planning their own custom build will need to work closely with both designers and architects, which may or may not be inside the same company.