As brokers, this is one of the most visited questions of our clients. Do they build a new yacht, buy an existing yacht or charter one to gain experience and have a great holiday without the worries and concerns of owning such a luxury asset? We take the time to review the options and discuss the possibilities open to you.
When to charter a yacht rather than buy a yacht
The principle advantage of yacht charter over ownership is its flexibility. The West Nautical charter team offers access to thousands of yachts worldwide, meaning we can find the perfect match for each trip you take. Family holiday to the British Virgin Islands? We will find a yacht with a comprehensive watersports set up. Romantic anniversary? We will recommend some classic yachts with fascinating histories. Corporate charter with your business clients? We will find a vessel that matches the impression you want to make that sits perfectly in your harbour of choice.
Yachts available to charter through West Nautical are held to our exacting standards, meaning there is no compromise, both in the standards of the vessel and its crew. All charter yachts have strict commercial safety equipment standards. Our charter team will ensure you are presented with all you need to know about each yacht we recommend and answer any questions you may have well in advance. Charter puts you in complete control.
Charter is not only a short term option; some West Nautical clients charter for up to a whole season. Likewise, it is often possible to charter for less than a week, making the perfect addition to a land based vacation.
When to buy a yacht rather than charter?
Owning and operating your own luxury yacht ensures total flexibility for you and your family. The opportunity to customise the vessel to meet your specific requirements, specify the crew you have on board, arrange for the refits and upgrades, and much more, means the yacht is truly a personal space that is a reflection of you.
Yachting ownership also welcomes you into an exclusive global club of owners that are passionate about the yachting lifestyle and the opportunities it affords its members. Your yacht can serve as a totally private sanctuary, a gathering place for your nearest and dearest friends and family, or a luxurious mobile home positioned worldwide as you wish. Many first time yacht owners are quickly surprised how their new purchase becomes an integral part of their lifestyle; one that’s inherently separated from the stresses and strains of life ashore as they plan their calendar around their time onboard.
From a financial perspective, ownership might make more sense than you first think. Private yacht ownership is often a tax efficient investment, particularly when the yacht is registered for charter, even if it is rarely used for it. The West Nautical brokerage team is well versed in providing advice on yacht purchase, whilst our management team can ensure the day to day running of your yacht is planned and managed for the long term to best effect.
New Build compared to a pre-owned yacht?
The decision to buy a pre-owned yacht, or commission new, is a significant one.
Maintenance standards within the yachting industry are extremely high and you will generally find that yachts listed for sale, even models decades old, have been maintained to meticulous standards.
Should you find a brokerage yacht with some features you would like to change, particularly anything cosmetic, West Nautical can put forward a realistic appraisal of what would and wouldn’t be possible, as well as estimated costings. Many yacht owners are amazed at what can be achieved by a refit with the most popular changes being those of re -painting, new soft furnishings and upgrades to the audio/visual technology.
It is no mistake that many yachts from an entirely different generation remain in service today, having been upgraded over time to match modern standards. In parallel, some owners like the lines of a particular yacht and embark on a complete in-depth refit, a process which essentially recycles the hull but results in a state of the art vessel. In many cases even a comprehensive refit can be achieved much quicker than the commissioning of a new yacht.
For some owners, the draw of a new build is too much to resist and the possibility of something truly bespoke remains enticing. If this is your preference, the West Nautical team can guide you from day one through to the launching ceremony. Whether you are looking for a platform yacht with a few unique adjustments, or a fully customised design, we are able to work with you throughout the process.
A new yacht will be built to the very latest industry standards, something that can often reduce running costs. In parallel, modern yachts tend to be easier to maintain with extended warranty periods, and due to current regulations stipulating crew accommodation sizes, a new build will often operate with less crew than an older yacht of equivalent size, impacting on the annual budget.
Whichever your choice, the West Nautical is there to empower your journey in yachting with the best possible expert advice.