Buying a used boat: New, used or chartered - things to consider

Whether you are a beginner or an experienced sailor, when buying a boat, the question arises for everyone: new or used? Each option has its advantages and disadvantages. There are no universal arguments in favour of or against buying a new boat - this decision depends heavily on personal preferences and circumstances. A used yacht often has the advantage that any initial problems and defects have been rectified or are at least known and included in the purchase price. Owners of the same yacht models can be asked for advice and a test drive is often possible. The often significantly lower price also speaks strongly in favour of buying a used boat.

Depending on the age, however, high follow-up costs can arise. New sails or new electronics, a replacement engine or an osmosis repair - this can quickly add up to several thousand euros. In addition, the design is often outdated and the level of comfort is lower than on newer yachts. And there is another argument in favour of buying a new one: it seems to be less risky. But even with a new yacht, you can fall into traps and end up paying more.

Purchase of a new boat

You can build a new boat according to your own wishes and ideas, at least in part, or at least have it customised. One or two wet cells, a walk-in cockpit instead of an additional aft cabin, a sporty regatta rig or a moderate cruising rig? Depending on the shipyard, you can also influence these and other points during series production when ordering the boat. However, making fundamental changes to the interior layout of a second-hand boat at a later date is time-consuming and rarely makes economic sense.

Advantages when buying a new boat

• + customisable
• + Shipyard as contact for spare parts etc.
• + Guarantee
• + large selection
• + calculable risk

Disadvantages when buying a new boat

• - long waiting time
• - High price
• - Possible teething troubles
• - Ancillary costs

Purchase of a used boat

The advantage of a used yacht is that it is often not only already perfectly equipped, but also ready to go straight away. If you order a new boat, you often have to wait months for it to be completed and delivered. And finally, there is also the tiresome issue of money. For the price of a conventional new boat, there are often either higher quality, better equipped or simply larger boats available second-hand. On the other hand, you are less well protected against unpleasant surprises. The dealer must rectify any defects in the new yacht. When buying a second-hand boat from a private seller, the risk of having acquired a soul seller lies with the buyer.

• More on warranty issues in this article

Yachts whose purchase is considered a calculable risk are particularly popular, and this has not changed. Potential buyers assume this if the resale value was already stable before the new market situation. Another plus point is considered to be if the shipyard still exists or if there are well-organised class associations or owners' associations, as this usually has a positive effect on the availability of spare parts and information. And finally, a ship is more popular with buyers if they already know it - for example, because they have chartered the same type before.

Advantages of buying a used boat

• + low price
• + Usually fully ready to sail and ready for immediate use
• + less depreciation
• + Trailer/berth etc. can be partially taken over

Disadvantages of buying a used boat

• - Risk of hidden damage
• - Spare parts situation varies
• - Pending repairs
• - Less choice/dependent on offers
• - Costs for inspections/appraisers etc.
• - Desired boat may be far away

Different target groups for used boats

The choice between a new or used boat is largely determined by the buyer's expectations and approach. In fact, a segmentation into two groups of buyers can be recognised, says expert Uwe Gräfer: solvent prospective buyers who specifically look for the younger examples of the most popular used boats, and hobbyists who look around the low-budget range. "Sailing is no longer perceived by both as the elitist sport of dentists, where you can't get started because it's too expensive and too complicated."

Gräfer also reports that the clientele who are interested in older exotic boats has grown noticeably since the coronavirus crisis. Young people, including those with families, who are buying an older boat on a tight budget, similar to the VW bus adventure, and who realise that they will always have a screwdriver in their pocket from now on. "They also existed before the coronavirus crisis, but the number has increased significantly."

In addition to the crisis, there is another effect that is having a particular impact on these groups of buyers. "Sailing has become more visible," explains Gräfer. Media interest has increased dramatically since Greta Thunberg's Atlantic crossing and Boris Herrmann's participation in the Vendée Globe. Young people are also motivated by video blogs on the subject, from restorations to long-distance sailing projects with old blue water yachts.

Buy or charter?

What does a sailing yacht really cost over the years, and how high are the follow-up costs for harbour berths and maintenance? And isn't it ultimately cheaper to charter? Everyone has to answer these questions individually, there are too many variables involved for generalised recommendations.

However, in order to weigh up the pros and cons, the expected costs should be recorded and compared as accurately as possible. These include running costs such as berth, maintenance and insurance, fuel, oil and gas. And last but not least, the expenses for travelling to and from the boat and for maintenance work if you don't do it yourself.

The so-called opportunity costs should also be taken into account. This amount quantifies the lost interest gain if you were to save the yacht purchase costs and invest the money as a fixed-term deposit. If you wish, you can also speculate with probable gains on the stock market at this point. If, on the other hand, you want to finance a purchase, you have to take into account the costs incurred through interest.

The individual items for your own boat quickly add up to considerable sums that can easily exceed the expenses for a charter holiday.

However, the mere consideration of costs should never be the only aspect influencing the decision. Although yacht ownership brings with it many financial obligations, other effects, such as the freedom and independence of using a yacht, as well as the advantages of steering your own boat instead of chartering someone else's, cannot be outweighed by money. Everyone has to decide for themselves whether these feelings are worth the investment.

• This article is part of a used boat special. You can find all other content here

The big YACHT used boat special:

• New, used or chartered - here's what to consider
• Which type of boat is the right one? Decision-making aids
• Overview: Used boats under 6 metres
• Overview: Used boats under 7 metres
• Overview: Used boats under 8 metres
• Overview: Used boats around 9 metres
• Overview: Used boats over 9 metres
• Dream yachts: These are the favourite ships of YACHT readers
• Buying a used boat: Your guide through the online jungle
• Own inspection or surveyor? What you need to look out for
• How to avoid traps in the purchase agreement
• The boat is bought - what's next? The first steps
• What insurance do I need for my boat?