How to Save Millions in Construction of a Custom-Built Yacht
Whether it’s your first or third time purchasing a yacht, making decisions about who you’re going to trust in the construction of a custom-built yacht requires careful consideration, attention, and analysis.
From style and comfort to safety and size, there is a range of requirements that new yacht buyers have when it comes to purchasing a custom-built yacht.
One of the bigger considerations is price.
Many brand-name shipyards will charge you an average of $22 to $28 million to construct a 150’ yacht.
However, in this post, we’re going to let you in on a little-known secret when it comes to yacht construction.
You can save millions and still achieve the same (if not higher) quality with the purchase of a custom-built yacht.
All you need is a broker who has the right connections, knowledge, and experience, and you can commission the construction of a custom-built yacht of your dreams—at a fraction of the cost.
Read on to discover why utilizing brokers at boutique yacht construction firms, such as World Yacht Group, is the best option when it comes to commissioning a custom-built yacht.
A Better Deal
To put it simply—why pay $25 million when you can pay $15 million for the same quality yacht?
Consider the following example.
We recently worked with a USA based client that wanted to purchase a 155-foot yacht, but didn’t want to pay the hefty price tag of €25 million.
He initially considered second hand yachts that cost between €12–€15 million.
When he came to us, we were able to commission the construction of a stunning yacht that fit his specifications via a professional shipyard in Turkey.
And the price? Just under €16 million.
This client was extremely impressed with what we were able to provide him in terms of cost, quality, and ease throughout the process.
If you’re concerned about the resale value of a yacht that doesn’t come from a brand-name shipyard—keep in mind that you’re saving a significant amount of money in your initial purchase.
Additionally, the yacht can typically be sold for the same price that you purchased it for within two to four years after construction.
Buying a yacht isn’t like buying a new car.
A yacht is a place where you live, a luxurious home environment that serves as your vessel while you explore gorgeous destinations around the world—from Ibiza to the Caribbean.
Bearing this in mind, you need to ensure that your yacht will be made at the highest level of quality.
Though brand-name shipyards may appear to be “the best” option, that’s often not the case.
These shipyards spend a lot of their time and money on marketing and have to build yachts quickly in order to meet demands—compromising the quality of the yachts.
On the other hand, smaller and lesser-known shipyards can focus their full attention on delivering a top-quality product that’s well constructed, comfortable, and stylish.
Finding a broker with experience and connections to these shipyards will be essential in your yacht purchasing process.
At World Yacht Group, we ensure the best quality when contracting shipyards to construct your custom-built yacht.
We conduct in-depth inspections: We visit the shipyards with a professional surveyor to make an inspection of their finished and unfinished yachts. This way, we ensure they are well constructed to the highest standards. In fact, we make sure all custom-built yachts are certified and meet the specifications of key governing bodies, such as RINA, LR, BV, and ABS.
We provide a post-sale warranty: We construct a strategic and comprehensive contract with the shipyard that specifies which parts of the yacht will or won’t be covered by warranty.
With this strategy, you can rest easy, knowing you’re going to have a terrific high-quality yacht at the end of the process.
Larger firms and shipyards have to deal with a large amount of overhead.
Consequently, their clients end up having less personalized attention in the process.
At World Yacht Group, we are available for our clients on a 24/7 basis and are…
Involved in all aspects of the process—we don’t risk important elements being lost in translation. We are experienced.
Honest with our clients and unswayed by the wrong incentives. We guarantee you won’t be dissatisfied or experience buyer’s regret.
Hands-on throughout the process. Our brokers spend a significant amount of time on-site during construction of the yacht. In fact, by the time we reach the last stage of construction (which takes an average of two years total), we are on-site at the shipyards 70% of the time.
Responsible and involved in key decision-making in order to ensure the work gets done properly.
Keeping the above benefits in mind, we’ll provide you with an overview of the process we use to deliver a high-quality yacht for the best price for our clients.
At World Yacht Group, we ensure a smooth process for our clients—from the first meeting to completion of the yacht.
First things first—one of our brokers works with the client to find out what he or she is seeking when it comes to style, equipment, construction preferences, speed, location, type of use, budget, size, and more.
While prioritizing quality, the broker uses his knowledge and connections to vet various shipyards in Italy, Holland, or Turkey among others.
Having these historical connections with shipyards is key as many shipyards are hesitant to disclose full and honest information to clients directly.
Additionally, our brokers know when a yacht is being oversold, and they can handle the complex process of negotiation to ensure the best deal for the client.
From there, the broker presents a range of options to the client.
Some shipyards may even have unfinished yachts that fit the needs of a client—fast-tracking the process while leaving room for additional customization, from equipment to interior design.
After selecting a shipyard, we contract them to build the yacht—at 25%–35% less than what it would cost with other more “branded” shipyards.
The process typically takes an average of 16 months to 24 months, and we are involved in the process from start to finish to ensure all goes as smoothly as possible.
From there, our clients are able to enjoy everything their yachts have to offer, whether it be taking a family trip through the Caribbean or spending the summer in Ibiza with close friends.
With offices in Los Angeles, Cannes, Ibiza, and Madrid, World Yacht Group is a truly global operation with the right experience and connections to make your yacht construction dreams come true.