Top 6 things to know about yacht valuations

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Here are six variables to consider while determining the superyacht's value.

1) The Size of the Yacht

Size obviously matters. Larger yachts are more expensive since they provide greater space for everyone on board. It's crucial to think about the overall length as well as the interior square footage. Both will have a direct impact on the boat's value.

2) The Age of the Yacht

Obviously, age plays a role as well. Older yachts are less expensive because their bodies have previously been subjected to severe wear. A yacht's typical lifespan is determined by its state of repair (see below), although a boat towards the end of its life is less valuable to both the seller and the buyer.

3) The Location of the Yacht

When buying or selling a boat, you might be surprised at how important the location is. Warmer climates are associated with more expensive ships, whereas colder climates and less popular ports are associated with lower values. At the same time, yachting is a supply and demand industry; the more ships for sale in the area of the yacht you're interested in, the lower the price and value.

4) Current Repair Status

The age of the ship in question is crucial, but its current condition of repair may be much more so. The extent to which an older ship is renovated, of course, has an impact on its worth. External repairs are also important; a well-maintained boat has a huge advantage over one that struggles to stay afloat.

5) Average Time on Market

The longer a yacht is on the market, the lower its value will become. The explanation for this is a simple demand equation: when demand is insignificant at the current price, the price must be reduced to maintain interest. A yacht takes around a year to sell on average. The value of the ship in question may be influenced if it has been on the market for a long.

6) Additional Features Above Standard

Finally, pay close attention to the qualities that the boat you're contemplating has that other, similar ships lack. Of course, depending on the size of the ship, and especially for luxury yachts, these characteristics might vary greatly.


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