How to Buy a Yacht
The discerning buyer’s guide to purchasing a superyacht
When you want to buy a yacht, expertise and experience are paramount. Northrop & Johnson’s brokers have a unique and in-depth knowledge of the superyacht industry and have an unrivaled reputation for honest dealing. With the industry’s most comprehensive database of buyers and sellers, and access to the widest fleet of luxury yachts for sale, our brokers are familiar with all the yachts on the market and always strive to find the perfect vessels for our discerning clientele.
From price and contract negotiations to the organization of surveys and sea trials to support with ownership structures and navigating legal complexities, Northrop & Johnson’s brokers are experienced in all aspects of yacht buying. You can expect a smooth purchase experience from start to finish, leaving you to enjoy the pleasures of stress-free yacht ownership.
Four steps to buying a yacht
Know The Type of Yacht You Want to Buy
Once you have made a decision to purchase a yacht, the next step is to determine exactly what type of yacht you are interested in buying. From yacht builders, to hull types, to the different styles and their uses, there is a vast array of different yacht types available, each with a varying range of wildly different sizes, styles, performance capabilities, purposes and of course budget.
When considering a yacht for purchase, be able to answer the following questions:
- What type of experience and use you are looking for in your ownership?
- Are you interested in a new or used yacht?
- Do you prefer a custom built or semi-custom yacht?
- Are you looking for a high-speed performance weekend boat, or a genuine round-the-world blue water cruising experience?
- What size of yacht are you looking to purchase?
- How are you planning to use your new toy?
You can start by browsing through our yacht type guide (below) to view the different types of yachts available and how they might best suit your requirements.
Find the right yacht for you
Once you have decided on the essential elements, speak to your Northrop & Johnson yacht broker. Your yacht sales specialist will begin the search for your perfect yacht. Armed with a better understanding of what each category of yacht has to offer, the opportunities and choices will fall into place. Your Northrop & Johnson broker will provide you with a shortlist of yachts, including those on the market and even in private use, some of which may not necessarily be on the open market.
Offers, Negotiations, and Purchasing
Once you have found the perfect yacht to buy, your Northrop & Johnson broker will handle all offers and negotiations. The buyer and seller will then agree the sale and purchase contracts. Typically, a detailed agreement known as a Memorandum of Agreement (MOA) is drawn up and signed by both parties after your selection is made and finalized. Your Northrop & Johnson broker will arrange a buyer’s sea trial and condition survey. There may then be a negotiation and once an agreement is reached the necessary documents will be exchanged, the payment made and the sale completed.
Yacht Ownership
Northrop & Johnson will advise on yacht ownership and corporate structures and handle all the administrative documentation to help your transition into yacht ownership. They have access to a wealth of expertise, including legal and construction teams, yacht managers, insurance specialists, crew and charter marketing experts, should you be looking to recoup some of the running costs. Ultimately, our job is to ensure a smooth acquisition from start to finish and throughout your entire ownership.
Yacht Types
Mega Yachts
Defined as a vessel larger than 165 feet, a mega yacht is the ultimate luxury yacht in terms of size, facilities and services. Vast luxury megayachts can accommodate a large number of guests in the utmost superfluity and comfort. The ultimate in luxury yachting, these vessels feature anything and everything from gyms, spas, swimming pools and cinemas to discos, conference rooms and other exceptional amenities.
Superyachts
Large, spacious, stable and designed for pure comfort, a modern superyacht ranges in size between 100 and 165 feet and is the perfect luxury yacht for family cruising and first-time charterers. Superyachts feature an array of amenities, such as large toy chests full of watersports equipment and ample interior and exterior spaces for guests to enjoy. The most popular superyachts for charter are heavy displacement motor yachts that sit well at anchor and provide stability.
Performance Motor Yachts
Performance motor yachts range in size between 80 to 100 feet; they are nimble and capable of cruising shallow-water locales. These yachts quell the “need for speed,” and offer beautiful lines and stunning designs. They are ideal for those who want to explore more of the coastline in a shorter amount of time and are looking for the real kudos and adrenaline that goes with the luxury superyacht lifestyle.
Modern sailing yacht
A modern sailing yacht is perfect for those who want the size, comfort and facilities of a motor yacht with the flexibility to open up the sails and experience the undisputed appeal of sailing on occasion.
Classic Sailing Yachts
A classic sailing yacht will appeal to those looking for a genuine sailing experience and who want to capture the real romance and thrill of yachting. These yachts’ facilities are focused around sailing qualities. As such these vessels may not offer the same space and amenities as a modern sailing yacht, but they are the superlative option for bona-fide sailors.
Explorer Yachts
Many yacht owners are choosing to cruise off the beaten path and explore more exotic locales. Yacht builders are obliging by building explorer yachts with ice breaker hulls, tough decks and even extra freezer space for yachts that will be off the grid for a while. These yachts not only are expertly built and extremely safe, but they also provide comfort in all sea conditions and still feature all the luxurious amenities, if not more, as the average superyacht.
Catamarans
Available as both sail and motor, catamarans are best suited for those interested in shallow-water family style cruising. Thanks to a low draft, catamarans are particularly well suited for anyone who wants to discover often-overlooked (due to inaccessibility) locales. Catamarans are perfectly equipped for luxury and comfort and offer a great amount of space.
Sportfish Yachts
Sportsfish yachts are perfect for avid fishermen and outdoorsmen. These yachts are purpose-built for fishing. No matter if you're a serious sport fisherman or if you and the family enjoy casting a line during weekend cruises, Sportfish yachts offer top performance and excellent seakeeping as well everything you need to reel in the big one.
Featured Yachts for sale
Northrop & Johnson is proud to represent some of the most sought-after luxury yachts for sale in the global fleet. From traditional motor yachts to custom explorers to lavish sailing yachts to ultra-modern gigayachts and everything in between, Northrop & Johnson is ready to help you choose the luxury yacht of your dreams. Explore our featured listings today then contact a Northrop & Johnson sales broker for all your yachting needs.
HOW TO SELL YOUR YACHT
The world’s leading yacht brokerage and marketing firm, Northrop & Johnson is able to efficiently and effectively sell your yacht at the optimum price in the shortest amount of time, promising a seamless process from start to finish.
YACHTS FOR SALE
Northrop & Johnson’s cutting-edge technology allows you to browse an extensive selection of yachts worldwide. From the latest new builds to pre-owned superyachts and sailing yachts, you are sure to find your dream yacht.
OFFICES AND TEAMS
With offices across the Americas, Europe, Asia and Australia, Northrop & Johnson truly is a global superyacht firm. Our dedicated international team of brokers and staff provides our discerning clients with superlative service in all corners of the world.