Do Most Yachts Hold Their Value?
A boat is a great time, but it can also be a worthwhile investment. At least, when you handle it right. You could spend top dollar on a stellar boat one day just to have it not be worth anything when you decide to sell it just because of a few wrong choices or a bit of accidental neglect. We won’t let that happen.
Sovereign Yachts is giving up all of the secrets to holding your yacht’s value so you can stretch your investment as far as you can!
Plan on selling your boat soon? Find out why you don’t have to worry when you use a broker to sell your boat for you. |
What Determines the Value of a Yacht: Main Factors
To maintain your yacht’s value, you must first know the most crucial traits that give a boat its value. Take a look at the most dominant factors so you know what to keep an eye out for when you seek out your next big investment:
The Type of Yacht
Should you go with a large center console or a compact sport fishing boat? If you want to ensure a greater value, bigger is always better. That’s because a contributing factor to a yacht’s value is its size which often correlates to its type.
The Yacht Brand/Manufacturer
Like the difference between a high-end car brand and a more affordable car manufacturer, yacht companies can also vary in value. Some boat brands may be in higher demand than others for offering greater reliability, power, features, safety, or luxury.
The Yacht’s Overall Condition
The older the boat, the more it lowers in value. Buyers may prioritize like-new boats that have greatly depreciated in value but are still in great condition.
A boat’s value may also be determined by the features and amenities it offers inside. Learn more about which features add value to a yacht so you can maximize your investment!
Tips For Retaining Your Yacht’s Value:
The key to holding your yacht’s value is in the amount of care you’re willing to put in throughout its lifetime. Some of the most impressive sales are the ones involving much older boats that look straight off the factory line, like a real-life glimpse into the past. That’s more or less the goal you’re trying to achieve by reading this guide, so make sure to pay attention to the following tips.
Your Regular Maintenance Checklist
Keeping your yacht looking fresh can be done with a solid routine:
- Schedule frequent check-ups as recommended by the manufacturer
- Wash every component of the yacht fairly often
- Be quick on repairs as they’re needed
Keep a book to log every bit of maintenance so you can easily track its history. Your future buyer will appreciate the info!
Learn more > 5 Essential Prep Tips For Selling Your Boat
Protecting Your Yacht When Not In Use
Either your boat is out on the ocean, or it’s hidden away until next time. Leaving it on the lawn or driveway completely exposed is about the worst thing you can do if you want to hold its value. Keep it indoors if possible, or at least invest in a high-quality protective cover to shield it from deterioration from the elements.
Consider Adding Upgrades
Your yacht doesn’t have to be stuck in the era you bought it in. Modernizing your yacht with current features makes it that much more appealing to the modern buyer. Any advanced features that improve the boat’s functionality on the water or add entertainment value can be excellent choices.
Become a Yacht Connoisseur When You Visit the Boat Experts at Sovereign Yachts
Want to know everything there is to know about selling yachts? Ask your local boat experts at Sovereign Yachts! We’ll fill you in on all of our tricks and we’ll even take your boat off your hands for you. Looking for a trade? Get started by checking out our new boat inventory to imagine the possibilities.