When it comes to deciding which boat to buy, the decision of whether to buy privately or from a yacht broker will influence which boats you consider
What is a yacht broker?
A broker the person paid to sell a boat on behalf of the owner; it works in a similar way to how an estate agent sells a home. The broker will take care of a lot of the background work to make the sale easier for both the parties.
The owner will pay commission to the yacht broker. The buyer doesn’t pay, although the cost of the broker may spill into the price of the boat.
What are the benefits of buying a brokerage boat?
When a boat is being sold through a brokerage company, the broker will answer any questions you have about it. The broker will be familiar with the vessel and able to tell you about the condition of the boat or give you more information to help you to understand if it’s the right boat for you.
If the boat isn’t for you, a yacht broker will have other boats on their books that you may want to consider.
Paperwork
A yacht broker will collate all the paperwork involved with buying a boat. They will organise the documentation outlining your offer, formalise the terms of sale, compile an inventory and check the VAT documentation. This eases the administrative burden on the buyer whilst helping to protect them by ensuring the boat legally belongs to the owner.
MBY’s article ‘Let the broker fix it’ explains how brokers can prevent sale problems.
Boat trial
When it comes to getting the boat on the water, the broker will usually attend the sea trial with you. They will be able to help you if you’re not sure how everything works on board and answer any questions about running and maintenance costs.
After-sales service
Yacht brokers generally offer a level of service once the sale has completed. They will be able to help you find a mooring, refer you to boat clubs and point you in the direction of the best place to get your boat maintained.
Disclaimer: The content above has been published for information purposes only. Whilst every effort has been made to provide accurate and up-to-date information, we strongly recommend that you consult the RYA or the BMF if you have specific questions or concerns about buying a boat.