Buy a used boat: expertise, 5 preconceived ideas

Continuing with the “buying a used boat” subject, let’s talk about pre-purchase expertise. We insist on the term pre-purchase because….

“I’m gona save pre-purchase expertise with the pre-insurance one”

Pre-purchase expertise and pre-insurance are slightly different. It’s important not to rely on pre-insurance expertise as a precise balance sheet before purchase. It can be a big mistake. Indeed, the pre-insurance expertise is much less complete than the one of pre-purchase. Plus, it will not necessarily detect hidden defects. Clearly, the pre-purchase expertise painstakingly checks the boat, determines its price and recommends possible actions to improve or comply with the current maritime regulations. On the other hand, the pre-insurance appraisal gives only a market value, ie the price for which the insurer will rely to refund the boat in the event of total loss and also to quantify the amount that will need to be paid to the insurer.

“I visit the boat that I want to buy with a friend who knows about it”

You know what you want (or not!), you have made a list of boats you like … You are basically in the process of buying a boat and all you have to do is to visit them. Yes, but with whom? As with any purchase, it’s good to be spontaneous and to take into account the first impressions … although staying objective will save you some surprises. Visiting the boats that suit you by being accompanied is obviously a very good idea, but do not just stay on it. No one equals the eye of an expert.

“I can contact any expert”

The profession of experts is not regulated in Spain. There is no recognized training or state diploma necessary to exercise it. This makes the choice even more dificult, because anyone can present themselves as an expert … The first thing to pay attention choosing them it’s to make sure that the expert is specialized in maritime affairs in the pleasure boats. On the other hand, rely on his experience, his multiple skills (navigation, mechanics, materials …) and of course, on his impartiality. Word of mouth works very well. Otherwise, you can contact some groups such as the Asociación Nacional de Tasadores, Peritos and Mediadores in Spain.

“The seller has the maintenance book, great, I don’t need any expertise”

When buying a used boat, an up-to-date maintenance book brings a plus but not a guarantee. It allows to understand the care taken by the owner without giving any extra value to the boat. It’s therefore not advisable to rely solely on the logbook, even if it seems complete.

“The electronic equipment is new … the selling price is necessarily inflated”

Electronics on a boat can represent a big budget but it remains impossible to overestimate them … This equipment is obviously part of the elements to take into account to obtain a precise value of the boat. And that’s it. Electronics loses half of its value after three years, and all of it after five years. As in many other areas, repairing usually costs more than replacement …

Good expertise is afloat, at sea and on land. It takes between 50 and 70 € per linear meter and it’s sometimes necessary to add the travel expenses of the expert and some tests often necessary (analysis of oil, gel coat, etc.). Do not hesitate to ask for a quote and make sure that the basic steps are taken into account.

It’s better to invest while you can than to have a boat that’s impossible to sell.

Need additional information? You want to know how we proceed? Contact us -> info@privilege-yacht.com / +34 972 453 622; +34 616 803 971

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