4 reasons not to buy a luxury yacht, and 1 solution for everyone of them.
They go wrong... all the time.
Luxury yachts need a lot of maintenance. Every day, every week, every year you have to spend a great deal of your time on maintenance. Although every yacht owner is warned about this, you only know how much time it entails when you actually own a yacht. You have to become a mechanic, plumber, electrician all together, so be prepared.
And even if you can afford yacht service to always do all your maintenance, service and checks, things can go wrong out at sea. Engines stop, batteries go flat, alarms, beeps and buzzer go off, you need to know what to do.
When you are fairly new to yachting, navigation, maneuvering and handling the boat especially in marinas can be nerve wrecking. The wind is picking up, you are drifting, the marina is tight and people from the quay and nearby yachts are watching how you berth your yacht. It can be stressful in the beginning and even when you are experienced it can still be a challenge.
Return On Investment
Buying a yacht does not have the best return on investments compared to other possible purchases, for example real estate or art. Therefore a decision to buy a luxury yacht should not be looked at as a financial decision, but a lifestyle choice. Many yachts depreciate in value over time. Looks get old, technology outdated and in salt water every material deteriorates. Some manufacturers and models are more in demand than others due to the known quality of the brand, and the reputation of the designer. They will more likely hold value at resale, but nevertheless walking away with more money than spend is nearly impossible.
With holiday time having become a premium for most, you'll only be making use of your boat during those rare moments when you can actually afford to get away from your hectic lifestyle. On those occasions your yacht needs to be in perfect shape, so you can have an unburdened time off. Consequently, in the limited spare time you have apart from your holidays, you need to be committed to upkeep your luxury yacht, juggling all the to-do’s and get things sorted out as soon as they arise. Only then, you can use the yacht like you intended.
Your own digital yacht crew. A team of yacht experts at your fingertips. Always instant access to your remote personal captain, engineer or navigator. We provide an omnichannel, through your yachts dashboard, smartphone or any connected device onboard. Boat handling becomes so much easier with a 360 view around your yacht, navigating unexplored territories becomes stress-free with an experienced navigator plotting the heading on your screen and your own personal engineer will look over your yacht 24/7, warning you of any upcoming failure and fix the problem instantly. Keeping your yacht in perfect shape.