I have just purchased a 24 Meter (80') Motor Yacht. She was classed 100A4. The last owner let the classification slip 5 years ago. The boat is now going thru a refit. Pros and cons of having her put back in "Class". Thanking you in advance. The boat will just be used for private family use, no charter. She will be used in the US and Med, American flag.
Congratulations on the purchase. Since you don't plan to offer the boat for charter then class certification is elective, if you want to be sure your vessel is up to the standards and in safe operable condition, you can do the class survey. Class code is the bare minimum for safe operation of a vessel, so it is advisable for every owner to look at new technology that might not yet be adopted as a minimum by "Class" and applying on the vessel, your safety and that of your family should accede professional recommendation as long as you can afford it, and this is my personal opinion. Enjoy your boat and stay safe. Cheers, Alfred