New vs. Used Superyachts: Weighing the Pros and Cons

If you’ve been browsing superyachts online, you might have seen some incredible used vessels waiting to be picked up, or maybe you’ve been pondering the customisation possibilities of the latest Sanlorenzo model. Making these all-important decisions can be both time-consuming and frustrating. If you’re torn between your next purchase being a new or used superyacht, we thought we’d provide you with some key pros and cons to consider. At the end of the day, the decision is 100% yours, but we all need a little guidance sometimes. 

Buying a new superyacht 

First, let’s look at the pros and cons of buying a new superyacht. It may seem like there wouldn’t be many cons, but if you’re in a rush and longing to be out on open water as fast as possible, it might not be the right decision for you.

Pros

• Endless customisation possibilities – One of the biggest pros is that you can make it yours when you opt for a brand-new superyacht. The yacht builders can customise every section exactly how you want it. You will have the final say, from interior design to toys and tenders. So, if you have been thinking about your superyacht for some time now, buying a new one means it will come with all the features you’ve been dreaming about. 

• Support from the builder – Another perk of buying new is the post-sale support you will receive from the builder. If there is anything that isn’t quite right, or you have decided on further customisation, it will be easy to arrange, and the job will be taken on by the original builders of the superyacht.

• Warranty – If anything goes wrong onboard your new superyacht, it will have a warranty, and the company you purchased the yacht from can take care of it quickly. This takes off a lot of stress and can save massive amounts of time.

• Absolute prestige – There is nothing more exclusive than your very own superyacht customised to your desires and personality. Purchasing new is a sure way to enhance and maintain a brilliant reputation.

• Having the latest tech – New superyachts will come with the latest technology on the planet. Buying new is undoubtedly the right choice if you are looking for up-to-date navigation systems, communication devices, eco-friendly features, and onboard entertainment. 

Cons

• Potential delays – Buying a new superyacht means it will still be under construction, and you will need to wait for the customisations you requested. There may also be delays due to unforeseen circumstances with production, such as waiting for certain custom fixtures and fittings.

• Availability – If you have your heart set on a specific model, there may likely be further delays due to the availability of that particular superyacht. Often, there is a waiting list when a new yacht comes out, so if you aren’t fast enough, it could take some time. 

• Will it meet your expectations? – When purchasing a new superyacht, it will be a shell that you get to help create. However, despite your input, it might not always be exactly what you expected, so make any requests crystal clear to the designers/builders before you sign off on the order.

• Rapid initial depreciation – If you were purchasing a new superyacht and planned to sell it one day, it is important to note that in the first three years, the value will drop dramatically.

Buying a used superyacht 

Many would assume that purchasing something second-hand doesn’t have many positives. However, in the world of superyachts, there are some significant pros to consider. Purchasing used yachts has become much more popular in recent years as the process can be simpler than buying straight from the manufacturer. 

Pros 

• Immediately available – Unlike a brand-new superyacht, buying used means once you’ve found what you want, you can take it straight away. For someone keen to get out on the water, this option might be best. 

• Established maintenance routine – Buying new can also take time to figure out the most beneficial maintenance routine. Something a little older will come with a logbook that tells you exactly what needs doing and when. 

• You know what you’re getting – You will be able to inspect the current condition and know exactly what parts of the yacht might need extra care and what parts work perfectly. You will also be able to see the finished product before you buy it, whereas, with a new yacht, you will need to wait until it is finished. 

Cons 

• Limited customisation possibilities – Of course, you will be buying someone else’s vision that has already been customised for them. That doesn’t mean you can’t change a few things, but it will be much more challenging to do so. 

• Old tech – An older yacht means that its systems and entertainment will not be as advanced as when you buy a new one. 

• Potential wear and tear – You are certainly increasing the risk of more wear and tear with a used yacht; this could potentially mean it requires maintenance much before a new yacht would. 

Further reading 

We hope this article has given you insight into new yachts vs used yachts. As you can see, both have pretty contrasting yet tremendous differences, so it is entirely down to your preference. If you are eager to be out on the ocean on a yachting adventure, it might be best to opt for a used superyacht; however, if you have a vision and don’t mind waiting, a new one could be perfect. Whatever you choose, you know you will have the time of your life. 

If you have any questions or need assistance buying a superyacht, contact Simpson Superyachts today. We are part of the Simpson Marine group and have been brokering the sales of superyachts in Asia for over 40 years. There aren’t many who know as much about the industry as we do, so get in touch and let us help you ascertain the superyacht you’ve always dreamt of.