In this guide you will learn what to look out for when buying an expensive luxury yacht. Depending on which country the yacht comes from, the length of the warranty you get as a buyer varies. Buyers with a smaller budget therefore often depend on the shipyard's goodwill. When choosing a yacht, you should therefore pay attention not only to the price but also to the builder. Find out everything important about buying luxury yachts here.

Buying Luxury Yachts - Fees and Costs

When buying luxury yachts, it is important to find out whether the import VAT of 19% (German rate) plus the customs duty of 1.7% are already included in the price. For yachts 12 meters (about 39 feet) or longer, the customs duty does not apply. Compliance with a uniform CE directive is a given in yacht building in the EU. For an import from abroad, such as from the USA, things look different. The cost of re-certification is around $1,650 - $2,200. For truly expensive yachts, though, this cost is rather small. For the sake of completeness it should still be mentioned.

buying luxury yachts

Most of the yachts you can buy are production models, built in series by shipyards. In terms of design, then, you don't get a one-off piece. This keeps the manufacturing costs incurred when buying luxury yachts low. However, it comes at the expense of a personal touch.

Buying Luxury Yachts with Special Requests

Of course, you can influence the interior fittings. And if money hardly matters, a custom design can be made. Unique new constructions are then possible, too. For that purpose you only have to find the right shipyard. In general, it is advisable to bring in an escrow service, or so-called escrow. For this, the amount agreed with the shipyard is transferred to a third party. The payment is only released once you receive the goods.

buying luxury yachts

Even larger shipyards can run into payment difficulties these days. With smaller shipyards, the room for maneuver is often even smaller. In the unlikely event of insolvency, the money would otherwise be gone. Payment is usually made this way.
A down payment of 1/3 or 1/2 of the purchase price is transferred to the escrow account. Once you receive the yacht in perfect condition, the payment is released. The remaining amount is then transferred in addition. After all, trust is good, but control is better.

Buying Luxury Yachts - Escrow Companies

You should also make sure that the escrow company you turn to has been in business for a while. The ideal case, of course, is when you can handle the payment directly with the manufacturer.
After all, escrow services charge fees too.
One option, for example, would be to agree on so-called milestones depending on the progress of construction. When buying luxury yachts, the payment can therefore be split into several steps. In most cases, though, there is no problem with payments. When buying a yacht, you should always see the quality of the vessel for yourself.
Photos or descriptions can seldom be trusted completely.

  • Ask about fees and costs
  • Inspect the yacht beforehand
  • Installment payments are also possible for a new purchase
  • Hire an escrow company if necessary