What are the common mistakes made in buying a yacht?

This is a very interesting subject from the managers perspective, because we have encountered many yacht owners who have been poorly advised or have purchased yachts through brokers who have been economical with important information on performance, range, functionality and true costs. We are in a position to assist potential buyers in focussing on the type and size of yacht to suit their proposed use and cruising grounds, as well as their budget, without a commercial advantage in steering them in the most profitable direction. In advising potential buyers, we need to remain mindful of the following: • Berth size and draught restrictions of the desired home-base marina; • Typical proposed use will define the accommodation/cabin numbers, speed, range and capability. Ultimately defining the hull type, construction materials and general appearance; • Crew costs (inclusive of salaries, clothing, food, insurances, etc..) typically amount to 40 to 45% (for vessels over 35m) of the annual operating costs, so the number of permanent crew a yacht is required to operate with has a big bearing on the overall costs.