Purchasing a new yacht...

purchasing a yacht

I am awaiting delivery of a new 78' Ocean Alexander, due in April or May. I have spent more than two years studying boats, attending the Ft. Lauderdale and Miami, and Newport Beach and Lake Union Boat shows, talking to owners, repairmen, captains, etc. I was hung up on buying a Horizon for about a year and a half, mainly because I think they are one of the most beautiful boats on the water. I've also heard negatives about resale value, but this could be an advantage if buying used. Also spent a week on a 92' Horizon and didn't like the way it hit the waves. With Ocean Alexander even other dealers would say, "that's a very good boat," before going on to say their's was better. One thing I have noticed about the boat reports in magazines. No yachting magazine will ever say very much negative about a boat. But if they don't like the engineering or the hull design, they'll find something good to say about it -- usually the beautiful woodwork, interior layout, bathroom fixtures, etc. Look for those articles where they rave about the quality of the construction, strength of bulkheads, reputation of the designers, etc. Just for example, there was an article about a new Marlow yacht in a recent yachting magazine and the author just couldn't say enough about the quality of the boat, its ride, its engineering, etc. I have a hunch that is a very fine boat. I'd stay away from the boats where the best thing they can say is that the bathroom is really nice. You're right, its a very difficult thing to pick out a good boat. As to your question about how the price of a used boat compares to its original price, I believe (but am not sure) that if you keep a new boat at least 4 or 5 years you can get about what you paid for it, but I don't think you can recoup the costs of moorage and running it.

Cost of buying motor yachts

I should add one other thing to my last post. I spoke with as gentleman at Roche Harbor who had an 82' Horizon, about 4 years old, and absolutely loved the boat! It looked just like new. So, I think you can get a hundred different opinions if you talk to a hundred different people. If the boat has had a good service record, and it's been used in some tough situations and survived well, and you like the way it looks, go for it. While I made a different choice, there are a lot of people with Horizons who love them.

President Yachts

I have been on a President Yacht at a yacht show in Seattle. The woodwork was very badly done, and the broker apologized for it and said they were upset with the factory over it. But it is my understanding that this was among the first of the boats of this class and I had little confidence they would do better on the next ones. It was that bad. I also spoke with one of the brokers in Seattle who was trying to sell me his brand. I mentioned I had looked at President and Ocean Alexander. He replied, "Ocean Alexander is a great boat -- but stay away from President!" TThen, of course, he tried to sell me his, as being better than all the rest. I'd be glad to talk to you about any number of boats I have looked at if you want to call me. Home is 801-377-5042 and cell is 801-602-9315. We are on mountain standard time. I don't claim to be any expert, but we have looked at a lot of boats.

Making a list of qualities (with your wife) would be a good way to start strategizing. Hard working, motivated, and dedicated seem like they would be atop your list. Dedicated because this is not a process you'd want to go through over and over again, especially if your are a little nervous about it now.

Training is critical. There are certifications, along with experience that you might want to look for. If you will be cruising in cold water areas, you might want to work with someone used to that. You may only want crew members for certain trips (the ones with guests, or specific journeys). Think about the tasks you would like them to manage for you. Cleaning? Cooking? Navigation? Security? Repairs? Line handling? Whatever is most important to you is where you should focus.

People are complex and quirky, so there may be some compromises to make. Figure out ahead of time what you are willing to put up with so you won't feel like you are settling later. A couple is a good idea, but the dynamic of two couples on a private yacht would be very different from a captain with a deckhand.

Best of luck to you.

Jaye

It reminds me of long ago, I was thinking of buying a Porsche Carrera in a cerise colour, and convinced the salesman that if I just could show it for my girlfriend the deal should be easier to make. So I was allowed to take the car home over night and drove home. When I came in the door of our house my girlfriend met me with saying; Did you see that horrible colored Porsche that just came by...?

Later we bought a white one

Ah, that's brilliant!

I wonder how a cerise colored yacht would look along the coast of Maine.

-Jaye

This thread really has a lot of good points!

I normally scan posts pretty quickly, but I had to go back and read this one several times. Lots of good advice here!

Jackson, I hope you find a great boat with a good crew to help you with your dream.

The only thing I can add when you are interviewing crew, is to try to get an idea of what exactly you think your management style will be. You are hiring employees that in essence will be living with you. Because of the closeness of life aboard, this adds an extra interpersonal dynamic that does not exist in a conventional employer/ employee relationship.

Some yacht owners prefer to keep things a bit more formal, while others prefer to run things in more of a "family style".

Only you can know whats best for you, but it is a good idea to match your management philosophy with the person or persons you hire to work for you, and live with you.

Trust me, once you have weathered one good storm together, you will have a new view of the person you have hired !!!

Good luck and fair winds !

Purchasing a yacht

I take serious issue with much of what Boatnut says. 1. "If they are guilty of anything it would be using too much stainless." While these boats are semicustom, the amount of stainless is standard. They have stainless rails and it's good quality. 2. While the gel coat on older Taiwan boats might have been lacking, there are some companies now that do as good a job as anywhere in the world. 3. A new 80' Taiwan boat will cost 3.2 million or more. None are available for 2.5 million. A similar Sonship (a very high quality boat built in an expensive venue, Canada) will be 4 million. The reason for the lower price is the lower labor costs; not lesser quality, if you buy the right boat. And you can't get a 92' Horizon or anything else for 3.5 million. It will be about 4.2 to 4.4 million. Awl-grip has its own problems and isn't the answer to gel-coat cracking. Finally, lower labor costs doesn't necessarily mean lower quality. China has a 4,000 year tradition of beautiful handwork. I just visited the Ocean Alexander factory in Taiwan and was astounded at the quality of the handwork. Their wood-workers, for example, will rival those of any company in the world. The workers are so focused they don't even know there is anyone else on the boat. Their work-ethic is better than any I have ever seen and the quality of their work is incredible. If I have heard anything negative about the Taiwan boats, it is that the "Taiwan school of design" tends to make them a little bow-heavy, with a less-sharp point of entry, but the answer to that is, you make sure the boat is designed by Americans or Canadians or designers from some other country, and that they don't tamper with the design over in Taiwan. Ocean Alexander, for example, the brand with which I am most familiar, has their boats designed by Ed Monk, Jr. and Ed Hagemann, and engineered by Tom Nolan. Electrical system designed by Jim Baum. They are tested by computer and then tank tested in the famous facility at the Fraser River in British Columbia. And no significant changes are permitted without approval from the team. Put the words Ocean Alexander and test into a search on the Internet and read the boat test on the 78' Ocean Alexander and you will see comments to the effect that it doesn't matter where this boat is built -- it is the equal of anything in the world. The old school about Taiwan boats being of inferior quality is no longer true. There are a number of manufacturers over there who build high-quality boats and, like any other brands, you have to evaluate them on an individual basis. Some brands are better than others -- and that's true no matter where a boat is built.

Web site for Boat Prices

Here is a web site for used Yachts of all sizes with equipment valus added in.
http://www.nadaguides.com/MarineHome.aspx?wSec=14&wPr=0&wPg=2004
Hope this helps

Good to hear you have found your dream-yacht. Congratulations and good luck!

As I tried to say in a post, you have brokers that will help you to purchase the right yacht, but it might be less easy to find the right guy if he also have boats for sale that falls into your preferences.

Your last question is a common one and it is always surprising to me that it will take an average of three yachts to find the right one for many owners!

Either they are fooling themselves in one or the other direction, or they do not ask the right questions, do not consult the right designer ( ), or they just need to find out by their own experience what would be the right size or yacht.

But some also love to be involved in the project of building their dreams. I know yacht owners who is talking about their next yacht, long before the present is launched!

So, you´ll never know!?

I've just found this post and I'd like to thank you Crewagency for the most helpful post I've yet found - I see others don't necessarily agree with all you have included / excluded but that is no consequence to me - it give ball park figures as to how other things compare to pure purchase price and the number look like they will scale up or down and probably doin't change with price or currency much either!

Thanks again,

CW

Jackson, congratulations on the new yacht. I think you had the best of both worlds with your 82. You still managed to customize it which is what Horizon is known for and you don't have to wait over a year for it.

I'm not sure if you have visited the yard but if you do I'm sure you'll be amazed by what they are capable of over there. Their technology (SCRIMP)and craftsmanship exceeds many well known builders. It's definately one of the top builders in the world.

Enjoy your new yacht when it arrives.

"Sayings"

I've spent most of my years playing with aircraft. My favorite line when shopping for aircraft: M/Y's is kinda a similiar.

Good Fast Cheap

(Pick Any Two)

Shuttlecr,

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Quite interesting comments here.
For the record, it needs to be said that there are, as in any business, people who put your needs above theirs, i.e., brokers who are candid, with no axe to grind, and who listen well. Coupled with their experience, this "Purchase Consultant" does indeed exist and it may please you to know that the vast majority of yachts are not sold by the listing broker, but, rather, by that person who has taken it upon him/her self to find the 'right' vessel for the picky buyer.

Just my humble opinion.

So... have you expanded your Horizons? Maybe found the end of the earth, or possibly sipping a cocktail and contemplating another coat on the handrail?