Although the brokers are saying that all is a bit quiet at the moment, in the past month we have carried out 2 Pre-purchase Motor yacht surveys on 50’ and larger luxury motor yachts with values upwards of two hundred and fifty thousand pounds and a 3rd is booked for this week coming.
One was a 2008 Azimut 50 in Spain being purchased by a couple who are moving up from a 48’ Motor yacht. They had been looking at older Fairline 55’s but found that they could buy this much newer Italian built motorboat for the same money.
The purchasers had noticed some cosmetic damage around the galley and the forward air-conditioning was tripping out, but other than this she was thought to be in good shape. It may seem extravagant to fly an English Yacht Surveyor to Spain to carry out the survey, but we came up with a list of 44 items of varying levels of seriousness from the light in the fridge not working to the engine compartment fire shut down emergency air supply shut off not functioning and the port engine apparently overheating.
The purchaser was able to give this list to the broker who agreed to fix everything! It seems the buyer has the upper hand at the moment! The purchaser then paid for a return visit of the surveyor to check and report that everything had been carried out to the required standards. Money well spent they believe.
The second boat was a Fairline Squadron 55 in the UK. This was the buyers first large motor yacht and again, generally looking in very good condition, but investigation into the hidden lockers found corroded seacock ball valves, on deck stress cracks in the gel coat and underneath worn cutlass bearings amongst a list of 30 points, may admittedly cosmetic. The owner happily arranged for the more serious items to be put right.