Owning a yacht is a luxury few can afford. If you have extra cash on hand and you are interested in purchasing a yacht of your own, you may have your eyes set on a shiny new model. However, buying a yacht that has been previously owned is also worth your consideration. Here are some of the advantages and disadvantages of owning a pre-owned yacht.

Pros of Having a Pre-Owned Yacht

• A pre-owned yacht is more affordable than a new one. Prudent spenders may find this more appealing.
• New yachts rapidly depreciate in value during the first five years of ownership. Older yachts, on the other hand, have a steady resale value because they have already depreciated. This means that you can sell a used yacht for roughly the same price you bought it for.
• If a pre-owned yacht was well maintained by its previous owner, it has already earned its sea legs. There’s no need to stress over how well it will perform on the open ocean because it has proven its worth.

Cons of Having a Pre-Owned Yacht

• It is likely that a pre-owned yacht will require minor updates over time. Be sure to purchase marine paint supplies to repaint the hull or pay someone to do it shortly after you buy your yacht. A fresh coat of paint will improve the yacht’s appearance and help protect it from saltwater abrasion.
• Used yachts have already been built, so they are not as customizable as new ones. In other words, you cannot add many of the fun little gadgets that you find on newer models. 
• Unlike new yachts, older yachts are not constructed with the latest environmental regulations in mind, which may be a turn-off for some buyers.

Whether you choose to buy new or used, it is important to consider your options before you purchase a yacht. Having all the information you need will help you make the decision that is right for your time, energy, and budget.