YACHTS - TO BUY OR TO CHARTER? THAT IS THE QUESTION.
Yachts have been described as an investment in life. These beautiful boats are not about making money (necessarily!) or getting a good deal, but rather as a wonderful way to enjoy life.
If you’re in a hurry to push that boat out, then you may consider a pre-owned vessel. You could be out on the water within 1-3 months and also benefit from asset depreciation to get a great deal. Franklin would recommend you seek expert advice from a recommended broker if you choose this option - some boats hold their value better than others, and there is rather a lot of red-tape that requires careful handling.
On the other hand, if you want to bring a dream to life, then you will want to order custom made from a boat yard. Watch your design develop from concept through to completion, with the curving fibreglass hull complete with swimming pool and helipad. Again, caution is required when choosing your ship-yard. It is vital for the second-hand value of the boat that both the builder and architect have a good reputation world-wide.
When it comes to the knotty question of cost, caution dictates never spending more than 10% of your net worth on the purchase , and expect to spend 10% annually to keep it in commission.
If you are yet to get your sea-legs, then you might want to consider chartering a yacht. Simply walk onboard, experience all the fun the yacht has to offer and then walk away from any troubles. Admittedly, chartering a top-of-the-range boat will still cost a sizeable sum, but you will also have the freedom to charter where you want to, and not worry about moving the yacht. For the explorer types who want to visit more remote shores, chartering can be ideal.
Franklin have decades of hands-on experience both above and below deck. Please contact us for a consultation and an exclusive introduction to our preferred brokers and ship-builders.