How to buy a yacht!

comfortablynumb · 15th September 2010, 19:24

Hi Folks,

One of my cousins, who works as a consultant in the marine industry in Goa, has written an article in a lifestyle mag called Viva Goa on how to go about buying a yacht.

It's sort of a pre-purchase inspection [;-)] list, plus how to to your due diligence etc. I was surprised to see how much of the article's content is similar to what we do before buying a car!

I'm uploading the scanned copies of the article below (have taken his permission to do this). Hope fellow BHPians find it to be interesting reading.

Cheers,
Vikram

pjbiju · 16th September 2010, 10:40

Very informative. How much does one of these conservative things cost?

alpha1 · 16th September 2010, 11:06

Great!
Now to arrange for fund

But seriously, its some thing that I want ... nothing as plush and show-off like those found in Monaco.
But more in the lines of Robinson Crusoe, Pirates etc and other tales we used to read/hear in childhood.
Basically a sail-boat.

Brings some (possibly fake) sense of adventure.

roy_libran · 16th September 2010, 11:18

Quote:

Originally Posted by pjbiju

Very informative. How much does one of these conservative things cost?

Dunno about Goa, but in Ireland the motorized ones started retailing at about 30000 Euros. These were tiny and not really fun. The good ones, started coming in at about 70000 Euros.

Wolfheart · 16th September 2010, 17:15

How to Buy a yacht!

Step 1: Get filty rich!

Would love to buy my own someday! Sigh!

ikoneer · 16th September 2010, 17:31

oh, looking at the title, i thought a bhp-n is buying a yacht. Thanks for sharing. Now, is there anything on 'how to make enough to buy a yacht'

ariesonu · 16th September 2010, 22:39

Quote:

Originally Posted by Wolfheart

How to Buy a yacht!
Step 1: Get filty rich!

Would love to buy my own someday! Sigh!

Quote:

Originally Posted by ikoneer

oh, looking at the title, i thought a bhp-n is buying a yacht. Thanks for sharing. Now, is there anything on 'how to make enough to buy a yacht'

Quote:

Originally Posted by alpha1

Great!
Now to arrange for fund

But seriously, its some thing that I want ... nothing as plush and show-off like those found in Monaco.
But more in the lines of Robinson Crusoe, Pirates etc and other tales we used to read/hear in childhood.
Basically a sail-boat.

Brings some (possibly fake) sense of adventure.

Dear Friends: Talking about funds, you actually need to see this link
http://www.team-bhp.com/forum/commer...hp-giants.html

The thread starter is NOT active from looong time.

Raab Rakha.

govigov · 17th September 2010, 01:53

National sailing school in madhya pradesh ????? You must be kidding me. Last i checked madhya pradesh was still land locked!!!!

alpha1 · 17th September 2010, 11:55

^ MP has got some decent sized lakes.
All you require is water and wind for sailing.
Can be done also on river.

shankar.balan · 17th September 2010, 14:05

The article is most interesting.
Yes we are not a nation of overt sea farers in today's context. At least not from the leisure perspective. But I think this is changing, along with the other aspects of changing lifestyles.

Historically of course we have been a nation of sea faring traders in some measure at least - considering that we have records of trading with South East Asia and other such places a long long time ago.

In UK, Europe etc on a fine bright day, the sheer numbers of casual sailors putting out to sea has to be seen to be believed. Yacht-jams indeed - in some places!

One interesting point to add to the store of trivia - the custom built semi luxe, luxe yachts dont depreciate over time. They are a sound, solid investment which is why so many of the truly rich people go out and have them custom-built by Ferretti, Sunseeker, Oyster, Macquarie and other such bespoke yacht builders. In fact the really top end custom built yachts have been known to appreciate in value, over time, unlike most other things mechanical!

roy_libran · 17th September 2010, 14:18

Quote:

Originally Posted by shankar.balan

One interesting point to add to the store of trivia - the custom built semi luxe, luxe yachts dont depreciate over time. They are a sound, solid investment which is why so many of the truly rich people go out and have them custom-built by Ferretti, Sunseeker, Oyster, Macquarie and other such bespoke yacht builders. In fact the really top end custom built yachts have been known to appreciate in value, over time, unlike most other things mechanical!

Most interesting.... Any ideas how this can happen, defeating conventional logic?

shankar.balan · 17th September 2010, 14:23

cannot explain why a yacht doesnt depreciate. But I have read that limited edition hand built/ custom built yachts can and do appreciate.
Incidentally, buying a yacht, sailing it halfway around the world and then selling it, thus converting it to big cash, has been known to be one of the more creative hedges used to launder ill gotten gains.

Quote:

Originally Posted by roy_libran

Most interesting.... Any ideas how this can happen, defeating conventional logic?

karthik123 · 17th September 2010, 18:23

Quote:

Originally Posted by roy_libran

Most interesting.... Any ideas how this can happen, defeating conventional logic?

Yachts are a very good investment IMHO.

yachts are not our usual mechanical machines and they are not needs.
prices of yachts depend on the previous owner, if the yacht's owner is a very famous person than the chances of it appreciating in value is very high.
They don't have a solid build quality and have usual problems as other mechanical machines, but these don't matter to people who buy these, i'm guessing people will buy an yacht for a high price even if it needs an engine transplant!
Unless a yacht is showing very bad signs of age ( rusting ) any modern yacht should be a good investment
People buy yachts as a status symbol, so doesn't matter what mechanicals it has
For people buying yachts money doesn't matter much, so they buy them for the list price and are not looking for a bargain. ( unless your selling your yacht to a value conscious company )

Even if a company leasing out yachts wants to sell their fleet off, they can and make a profit from it.

This is such an irrelevant insight for my daily life

Wolfheart · 17th September 2010, 19:33

I don't get it guys. If a yacht appreciates in value over time why would you want to buy a used one? Wouldn't you rather buy a brand spanking new one at a lower price?

Now imagine this scenario. If every thrifty millionaire starts buying a brand new yacht then the laws of economics are bound to kick in. There will be more demand for new yachts and the old ones will start depreciating. Or am I missing something here?

15th September 2010, 19:24	#1
comfortablynumb Senior - BHPian Join Date: Jul 2007 Location: Pune Posts: 2,042 Thanked: 3,451 Times	How to buy a yacht! Hi Folks, One of my cousins, who works as a consultant in the marine industry in Goa, has written an article in a lifestyle mag called Viva Goa on how to go about buying a yacht. It's sort of a pre-purchase inspection [;-)] list, plus how to to your due diligence etc. I was surprised to see how much of the article's content is similar to what we do before buying a car! I'm uploading the scanned copies of the article below (have taken his permission to do this). Hope fellow BHPians find it to be interesting reading. Cheers, Vikram Attached Thumbnails
	() Thanks

16th September 2010, 10:40	#2
pjbiju Senior - BHPian Join Date: Apr 2006 Location: Pune Posts: 1,357 Thanked: 1,091 Times	Very informative. How much does one of these conservative things cost?
	() Thanks

16th September 2010, 11:06	#3
alpha1 Senior - BHPian Join Date: Apr 2007 Location: LandOfNoWinters Posts: 2,092 Thanked: 2,602 Times	Great! Now to arrange for fund But seriously, its some thing that I want ... nothing as plush and show-off like those found in Monaco. But more in the lines of Robinson Crusoe, Pirates etc and other tales we used to read/hear in childhood. Basically a sail-boat. Brings some (possibly fake) sense of adventure. Last edited by alpha1 : 16th September 2010 at 11:07.
	() Thanks

16th September 2010, 17:15	#5
Wolfheart BHPian Join Date: Jun 2009 Location: Bombay Posts: 160 Thanked: 28 Times	How to Buy a yacht! Step 1: Get filty rich! Would love to buy my own someday! Sigh!
	() Thanks

16th September 2010, 17:31	#6
ikoneer BHPian Join Date: Aug 2007 Location: chennai Posts: 486 Thanked: 14 Times	oh, looking at the title, i thought a bhp-n is buying a yacht. Thanks for sharing. Now, is there anything on 'how to make enough to buy a yacht'
	() Thanks

17th September 2010, 01:53	#8
govigov Senior - BHPian Join Date: Oct 2007 Location: Cochin!!!!! Posts: 1,690 Thanked: 1,092 Times View My Garage	National sailing school in madhya pradesh ????? You must be kidding me. Last i checked madhya pradesh was still land locked!!!!
	() Thanks

17th September 2010, 11:55	#9
alpha1 Senior - BHPian Join Date: Apr 2007 Location: LandOfNoWinters Posts: 2,092 Thanked: 2,602 Times	^ MP has got some decent sized lakes. All you require is water and wind for sailing. Can be done also on river.
	() Thanks

17th September 2010, 14:05	#10
shankar.balan BANNED Join Date: Apr 2008 Location: Bangalore Posts: 11,368 Thanked: 23,142 Times View My Garage Infractions: 0/2 (8)	The article is most interesting. Yes we are not a nation of overt sea farers in today's context. At least not from the leisure perspective. But I think this is changing, along with the other aspects of changing lifestyles. Historically of course we have been a nation of sea faring traders in some measure at least - considering that we have records of trading with South East Asia and other such places a long long time ago. In UK, Europe etc on a fine bright day, the sheer numbers of casual sailors putting out to sea has to be seen to be believed. Yacht-jams indeed - in some places! One interesting point to add to the store of trivia - the custom built semi luxe, luxe yachts dont depreciate over time. They are a sound, solid investment which is why so many of the truly rich people go out and have them custom-built by Ferretti, Sunseeker, Oyster, Macquarie and other such bespoke yacht builders. In fact the really top end custom built yachts have been known to appreciate in value, over time, unlike most other things mechanical!
	() Thanks

17th September 2010, 19:33	#14
Wolfheart BHPian Join Date: Jun 2009 Location: Bombay Posts: 160 Thanked: 28 Times	I don't get it guys. If a yacht appreciates in value over time why would you want to buy a used one? Wouldn't you rather buy a brand spanking new one at a lower price? Now imagine this scenario. If every thrifty millionaire starts buying a brand new yacht then the laws of economics are bound to kick in. There will be more demand for new yachts and the old ones will start depreciating. Or am I missing something here?
	() Thanks