⚠️ This guide is provided for general information only and does not constitute legal, financial, or tax advice. While every effort is made to ensure accuracy, regulations and requirements may change. Buyers should always seek independent professional advice from qualified surveyors, brokers, legal advisers, and tax specialists before committing to any yacht purchase.
Buying a yacht is a significant and exciting decision. Whether you are purchasing new or pre-owned, power or sail, the financial commitment and ongoing costs mean it is likely to be one of the most important investments you will ever make.
The process should be enjoyable and rewarding. Owning your own vessel brings pride, freedom, and exceptional opportunities for adventure and relaxation on the water.
Pete Green, Director of Halcyon Yachts Ltd , a specialist yacht delivery company, brings over 20 years of experience in the yachting industry and is well placed to offer practical guidance on buying a boat.
Here are his top tips to help you make a confident and informed purchase.
1. Decide on the Type of Boat
Start by defining how you want to use your boat. Consider questions such as:
Will you race or cruise?
Will you day sail or spend extended periods aboard?
Will you use inland waterways, coastal waters, or undertake offshore passages?
How many people will typically be on board?
Once you understand your intended use, you can narrow down the types of boats that best suit your needs and lifestyle.
2. Set a Realistic Budget
Your budget should include far more than the purchase price. Ongoing costs can include:
Mooring or storage
Insurance
Maintenance and servicing
Fuel
Safety equipment
Repairs and upgrades
As a general rule of thumb, annual running costs often amount to at least 10% of the purchase price. You should also maintain a contingency fund for unexpected expenses such as engine repairs or new sails.
Planning ahead helps ensure your boat remains a pleasure rather than a financial burden.
3. Find the right boat
The internet is now the primary marketplace for yachts. Brokers and private sellers commonly advertise on online platforms.
Yachting magazines, newspapers, boat shows, and yacht club notice boards remain valuable sources. Online auction sites and marketplaces may also feature boats, but these require extra caution and due diligence.
4. View and Sea Trial the Boat
Never buy a boat without seeing it in person. Ideally, you should also arrange a sea trial. This allows you to:
Confirm the boat performs as expected
Check handling, engine operation, and onboard systems
Assess comfort and layout
Get a sense of how well the vessel has been maintained
A reputable owner or broker will welcome a viewing and sea trial.
5. Assess the condition with a professional survey
A marine survey is strongly recommended and is often required by insurers and finance providers. A qualified surveyor will:
Assess structural integrity
Identify defects or safety concerns
Highlight future maintenance issues
Provide an independent valuation
The survey report can be invaluable for negotiation and peace of mind. Ensure your surveyor is suitably qualified and independent of the seller.
6. Use a Written Contract
Although not always legally mandatory, a written sale and purchase agreement is essential. It protects both buyer and seller and clearly defines:
The purchase price
Deposit arrangements
Conditions of sale
Responsibilities of each party
What happens if issues arise
Commonly used contracts include those from:
A professional broker will provide appropriate documentation and guide you through the process.
7. Secure the purchase with a deposit
A deposit shows commitment and usually prevents the seller from accepting another offer. If buying through a broker:
The deposit must be paid into a designated client account
The broker should confirm that the account is protected and segregated
Written terms should state when and how the deposit is refundable
This provides financial protection for both parties.
8. Check ownership and documentation
Before commissioning a survey or transferring funds, verify that the seller has clear legal title. Key documents may include:
Bills of Sale showing ownership history (typically for at least the last 5 years)
Certificate of Registry (if applicable)
Builder’s certificate for newer boats
Evidence that any finance has been settled
A broker will help confirm what documents are required for your specific vessel.
9. Confirm VAT and Regulatory Compliance
VAT status remains a critical issue in 2026, especially for boats used or sold within the UK and EU. Ideally, you should obtain:
The original VAT-paid invoice, or
Alternative acceptable proof of VAT status
If VAT status cannot be confirmed, you may face difficulties with resale, importation, or potential tax liability.
You should also check compliance with relevant regulations, including:
UKCA or CE conformity (for boats first placed on the UK or EU market)
Recreational Craft Regulations
Any post-Brexit import requirements that may apply
If documentation is unclear, seek professional advice before proceeding.
10. Completion
Completion takes place once:
The survey is accepted
Any price renegotiation is agreed
All conditions in the contract are satisfied
At completion:
The balance of funds is transferred
Title documents are handed over
You receive all ownership, VAT, and compliance paperwork
Store these documents securely, as replacements can be difficult or impossible to obtain.
Enjoy your boat!
Once the purchase is complete, take time to truly enjoy your new yacht.
Consider:
Professional tuition on your own vessel to build confidence
Joining a yacht club
Planning regular trips and cruising adventures
Sharing the experience with family and friends
Your yacht is not just an asset – it is a gateway to unforgettable experiences.
This article was put together with the help of Halcyon Yachts Ltd. An international yacht delivery specialist, providing professional delivery services with highly experienced and fully qualified crew.
This article was first published on 4 April 2013
