Hidden Costs When Buying New Yachts From Euro Builders - Yacht Hunter

Welcome to Yacht Hunter, Where isThe unlimited destination for yacht lovers and buyers! In this video, I'll be discussing the hidden costs when buying new yachts from Euro builders. Let's explore the video and subscribe to my channel.🙏🙏 / @yachthunter
⏲️⏲️ Time Stamps ⏲️⏲️
00:00 Intro
00:34 Cost Duty Cost
00:55 Ship And Delivery Cost
01:18 Taxes Cost
01:32 Exchange Frees
01:59 Warranty Wait Times
03:27 Other Cost
04:10 Outro
If you've spoken to me about anything yachts, you know that I'm a big fan of European-built yachts; they're beautiful lines, their quality furnishings, and their general appeal. However, the salesman or builder has a tendency to downplay the true costs of purchasing a new yacht from overseas.
The first hidden cost is the duty, or essentially an import tax you'll need to pay if you plan to bring your yacht over to the USA; where you register this yacht will play a large part in if you will pay this or not, but you can account for paying 1.5% of the purchase price.
The second hidden cost is the shipping and delivery costs. Your yacht will be placed onboard a large cargo ship and delivered to a local port, where a delivery crew will then sail the yacht directly to your dock. Shipping as a rule of thumb costs a little over $1,000/ft and the delivery crew costs can vary based on experience and how many crew members will facilitate this process.
The third hidden cost is taxes. While yet again, where you register your yacht will affect this, there are taxes to be paid by the builder and taxes to be paid to the municipality where you register your yacht.
The fourth hidden cost is warranty wait times. While a warranty is great because you have the peace of mind of knowing that a major issue will be covered by the manufacturer, it's often important to realize that warranty items may not be dealt with immediately. A warranty obligates you to use a specified service provider and if they're too busy or backed up, you will have to wait for their assistance, and at the end of the day, time is money. A friend of mine bought his yacht from a foreign builder and the builder would send over their team from Europe each time there was an issue; however, they would wait for a small punch list to accumulate to make their trips more cost-effective, which became a significant inconvenience to the owner. Make sure that there is a dedicated service team on the ground and make sure the penalties are spelled out if your service isn't completed in a timely manner to avoid lawsuits.
Other costs to factor in include the 10% commission you'll pay a broker at the time of sale, the depreciation, operating expenses, and a few more to say the least, but it's better to heir on the side of caution.
If I can help you or provide any sort of guidance or assistance, please don't hesitate in reaching out to me at www.theyachthunter.com
Whether I assured you, you're a seasoned sailor or a first-time boat buyer, this video is a valuable resource for anyone looking to purchase a yacht from Europe.
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[@robsnow49]

Just came across this, thanks Chris. I'm entertaining/dreaming/spreadsheeting an Outer Reef Trident 620 and Sirena 58. To this novice the Outer Reef is likely the right choice where-as the Sirena seems a bit cheaper before everything you describe.

[@YachtHunter]

Outer Reef is definitely a bit more capable and sea-worthy while the Sirena may be a bit sexier. Great taste and curious to know your take once you actually step onboard! Let me know how I can help.

[@robsnow49]

@@YachtHunter I'm currently in the "Find a charter, get the family out for a couple of days, see what the response is" phase.
Yeah, the OR Trident just seems like the right choice, the stand-up engine room, extra workspace speaks to "yeah, it's made for out there."

[@russarcher]

Hi Chris! I was considering buying a yacht and now that you explained the fees I am going to buy a new PlayStation instead. I feel the maintenance and hidden costs will pan out to be more reasonable. Thanks again for the expertise!

[@YachtHunter]

When you change your mind make sure you give me a call!