The road to ownership

There is always a pivotal moment that draws us into a particular passion or pursuit, but where does one start? In the case of the significant investment that is superyacht ownership, serious, practical guidance in buying an asset of such magnitude is necessary for potential new owners entering the market.

The first step is the same as with any purchase. Diligent, independent research is never wasted before committing to ideas in a business context. “The old way was to go and look at four boats, get very excited, and buy one,” explains Simon Turner, director of brokerage and new build advisory, Northrop & Johnson. Nowadays, he says, they find that clients have done an amazing amount of good quality work beforehand. Information must be viewed with circumspection nevertheless, warns Luiz de Basto, president of Luiz de Basto. “Some (media) will say anything to please a new client which is not necessarily reliable information. And they will say it in the most convincing way.”

Of course, unless you’ve been lucky enough to be invited on board by a friend or business associate, charter is seen as the ideal decision maker. “The first thing you should do is charter at least once or twice, a different yacht each time with different set-ups, so you can see what you like and don’t like,” emphasises Jim Eden, president, of yacht brokerage Worth Avenue Yachts. Attending boat shows also offers the chance to see a superyacht up close and personal whilst understanding the options available to buy it, offered Marco Ghiglione, Managing Director of Mariotti Yachts.




Once the waters have been tested, if not literally, who then to approach to take things to the next level? There are a variety of businesses and professionals who purport to guide owners through the process. The key factor here is trust and making the investment enjoyable. “New clients should work with the shipyards,” advises Yildirim Bilgen, at Bilgin Yachts. “Builders have designers who they work really closely with who are on the same wavelength.”

Conversely, Alice Huisman, Director of Dutch yacht builders, Royal Huisman, says, “the investigation process should ideally commence with an objective and dispassionate advisor.” She suggests an existing owner, a captain, or a journalist working in the superyacht sector as the best objective candidates. On the issue of trust, it’s worth noting that some companies will promise the Earth despite meagre resources hidden behind a website offering everything from brokerage, chartering to new build and management. Alberto Amico, Founder MD Amico & Co on this subject says: ”Go to a professional with a proper reputation and check the feedback, experience and the people.”

If cost is on your radar at this preliminary stage, it’s worth noting an initial approach to designers can add to the bill. “I really think the owner is getting a better price if he comes to a yard first instead of making a lot of money making designs and bid packages,” says Dirk Mulder, CEO of Mulder Shipyards. “The best is often to make a choice for a yard and together with the yard select a designer and make a good open calculation.”

While industry insight shows there is no, one ‘right answer’ on the best path to ownership, there is a range of good options to choose from. Any new owner with a more specific question can also fire it off direct to us at TheSuperyachtOwner.com via the ‘Request Advice’ button. Ask us who you’d like to speak to from the industry, and we’ll source the response.

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