Affordable Yacht Purchasing Guide: Strategies and Techniques for Yachts Within £100,000 to £250,000 Range

Couple Finds Perfect Yacht for Long-term Cruising After Extensive Search

Catherine and Will Marks, a couple with a passion for sailing, have recently purchased a 1995 Contest 46 named Paradox. Their decision to buy the yacht was influenced by a previous incident on a Discovery 67, which made them prioritize safety and long-term cruising capabilities.

The search for the perfect yacht was not an easy one. The couple looked at over 20 yachts, including Passports, Hylas, and Kelly Petersons, before finding the Contest. Matt and Paige, another sailing couple, also chose a Contest yacht, the Contest 40S, due to its space, sailing performance, and build quality.

When buying an older yacht, there's a common trend where the one that almost everyone wants to buy is the one where an owner has just refitted or upgraded for a planned adventure that has either been completed quickly or where the plans have been cancelled. This can be a fantastic opportunity for a buyer looking to save some money and time. However, the owner will almost certainly see a percentage of their refit investment written off.

The Contest 46 offers a spacious aft cabin, making it comfortable for long-term living aboard. However, the only aspects which are going to stop one from heading off immediately relate to safety, reliability, and the stipulations of the insurer. Key considerations by yacht insurance brokers when buying a pre-owned yacht include the type and age of the yacht, material of construction, structural integrity of the hull, condition of the hull-to-keel joint and age and condition of keel bolts, seacocks and through-hull fittings, bilge pumping arrangements, age and condition of stern seals or sail drive seals, rig, onboard electronics, onboard gas system, fire prevention measures and onboard firefighting equipment, condition of the rudder and steering system, main engine and gearbox condition and maintenance, operation of navigation equipment, and lifesaving apparatus.

Understanding whether the yacht is fundamentally safe is the primary concern of an insurance broker. Inspection or replacement of standing rigging if older than 10 years, replacement of saildrive diaphragms if over seven years old, thorough servicing of mechanical systems, and either servicing, replacement or upgrade of safety equipment are necessary.

After purchasing a yacht, rectifying any serious faults or problems highlighted by the survey is necessary. The survey of the Contest 46 revealed over 110 points that needed attention, with a handful being urgent. The couple invested around $100,000 in repairs and upgrades to the Contest 46, including renewing the electrics, heating, refrigeration, and rigging.

Buying a yacht for £100,000 to £250,000 places one in the production-built yacht market, potentially up to around 40ft. In this price range, the most common brands of precision and long-term coastal cruising yachts purchased are typically Beneteau, Jeanneau, and Bavaria. Among these, Bavaria yachts are more frequently found in poorer condition by customers.

Marine insurance companies regularly deal with customers about to buy a yacht that they have plans to improve. Older yachts can be bought for little or no depreciation, but refit/upgrade costs may not be fully recoverable upon subsequent resale. Owners of older yachts must understand and accept the costs of refit/upgrade as their 'cost of ownership'. Most other refit items can be attended to immediately or pushed further down the road if budgets don't immediately allow.

A large number of options open up in the used yacht market with the same budget. The couple's extensive search and subsequent investment in the Contest 46 demonstrate that finding the right yacht for long-term cruising can be a rewarding journey.

Affordable Yacht Purchasing Guide: Strategies and Techniques for Yachts Within £100,000 to £250,000 Range