Top 5 factors to consider when investing in a superyacht

Erwin Bamps is the CEO of Gulf Craft, an award-winning innovative builder of luxury yachts and leisure boats. Being a strong supporter of flat management structures and CEO management-by-walking-around, Erwin tends to thrive in recession times, where bold calculated-risk decision making and quick opportunity identification gains essential market share in critical times. We’re honoured to have Mr Bamps give us five factors to consider before buying a superyacht.

So you’ve decided to transform your dreams of cruising the open seas into reality by investing in a luxury superyacht. While you’re about to enjoy the extraordinary experience of being a superyacht owner, there are a number of important points to consider before choosing what will ultimately become your second home.

 Define your experience and expectations

Before considering your options, first ask yourself, what kind of cruising experience are you looking for? Where do you want to go with your superyacht, how do you want to spend your time on board, and who do you want to share this precious time with? Are you looking for quiet sunset cruises along the local marina, or adventurous escapes to exotic destinations? Define your expectations, and then begin your search.

 Choose a builder with a positive track record

Once you decide what kind of experience you want to get out of your superyacht, you need to ensure that you are not only selecting a builder that promises you that experience, but one that will deliver on that promise. Assessing a company’s track record, such as its customer satisfaction ratings, global achievements, and product retention value, is an important step you can take to save you both headache and heartache down the line.

Remember, you decide what is important and what isn’t. Create a spec list of key features you would like to see on board your superyacht, and then look at how those match the options being offered by your builder.

 All that glitters isn’t gold

Remember, you decide what is important and what isn’t. Create a spec list of key features you would like to see on board your superyacht, and then look at how those match the options being offered by your builder. It’s a little like going through a house – take the time to make it your own. You define where and how you want to spend your money. Sometimes builders fall in love with their products and they get a little carried away trying to show off a flashy new feature that you don’t necessarily need. Find a builder who will put your money where you appreciate it.

 Don’t underestimate the importance of recruiting skilled crew

Manning a superyacht is a little like manning a luxury hotel, so make sure you set aside a budget for qualified crew. You want people with the right technical and hospitality capabilities, those who can help create unforgettable memories and mesmerising cruising experiences for you and your passengers. And look after your crew, because at the end of the day, they look after you.

 Time is money: less time managing means more time cruising

Easy access to reliable aftercare service is an absolute must. And it’s not only important that care and maintenance is reliable, but also minimal. Look for proven technologies, accessible service centres, and around-the-clock care. Perhaps one of the most disheartening experiences is planning a leisurely getaway on your superyacht, and then not being able to set sail because of technical difficulties. By investing in a quality, low maintenance product with reliable aftercare service, you spend more time enjoying your superyacht and less time managing it.

Finally, be sure to explore all the different possibilities of yachting. Superyachts today are built to be more comfortable than ever before, allowing you to enjoy a home-away-from-home experience no matter where the journey takes you. So don’t be afraid to venture beyond the horizon and into unfamiliar territory. Travel the world’s coastlines, from the Mediterranean and the Arabian Gulf to the Andaman Sea. And maybe, just maybe, you’ll be pleasantly surprised.