Buying a yacht is a lifestyle decision as much as a financial one. Get the category right and everything after it - the search, the survey, the sea trial, the closing - gets easier. Get the category wrong and you will spend a season fighting a boat that never fit your plans in the first place. This guide helps you pick the right category first, then walks through the buyer's process I run with every client.
The Short Answer
- Most yacht searches close in 30 to 90 days from the first meeting.
- Plan on 10 to 15% of hull value in annual running cost - dockage, insurance, fuel, and maintenance combined.
- Florida caps sales tax on boats at $18,000, regardless of purchase price.
- Every serious offer requires a marine survey and an engine survey before the deal goes firm.
- Sea trials happen after offer acceptance, not before - your deposit stays refundable through both.
- A Center Console buyer is a different customer than a Motor Yacht buyer. Don't shop cross-category.
Pick your category first
Every yacht search that goes sideways starts the same way - a buyer falls for a boat before deciding what kind of boat fits their life. The category question comes first: how you will use her, where she will live, and who will run her. Below is the framework I walk clients through before we ever open YachtWorld.
| Category | Best For | Typical LOA | Range | Price Range | Ownership Style |
|---|---|---|---|---|---|
| Center Console | Day cruising, fishing, entertaining | 30-50 ft | Coastal | $500K-$3M | Self-captained |
| Sportfish | Offshore fishing, Bahamas runs | 50-90 ft | Offshore | $2M-$15M+ | Self-captained or with mate |
| Motor Yacht (Express/Flybridge) | Cruising, weekends aboard | 60-100 ft | Coastal to Caribbean | $2M-$15M | Captain often |
| Superyacht | Long cruising, entertaining, charter | 100 ft+ | Global | $5M-$100M+ | Full-time captain and crew |
| Sailing Yacht | Cruising, sailing lifestyle | 40-90 ft | Global | $500K-$10M+ | Varies |
Start with your annual sea days. A boat you use ten weekends a year has very different requirements than one you live aboard for months. Then check your dock - draft, LOA, and bridge clearance rule out entire categories before price enters the conversation. Finally, be honest about captaining. Self-running a 45-foot center console is normal; self-running a 90-foot motor yacht through the Gulf Stream is a different job, and most owners at that size hire a captain.
The category decision filters the market itself. A Center Console buyer shops a different customer base and dealer network than a Superyacht buyer. Cross-shopping categories usually means the "how will I use this" question is not yet answered - that is the first thing I ask in discovery.
The eight-step buyer's process
Once the category is set, the process is repeatable. Most searches close in 30 to 90 days from our first meeting.
1. Discovery
We meet, in person or by call. I learn how you plan to use the boat, where she will live, and what your budget really allows for.
2. Budget & Timeline
Beyond purchase price - dockage, insurance, fuel, crew, and refits. Realistic numbers before we shop.
3. Search & Curate
I pull a shortlist across YachtWorld, IYBA, and my off-market network. You see the top three, not thirty.
4. Preview & Sea Trial
In-person walkthroughs. If a boat merits an offer, we run a sea trial to see how she handles under load.
5. Offer & Acceptance
Written offer with a 10% deposit into a bonded escrow account. I negotiate on your side of the table.
6. Survey & Findings
Independent marine surveyor, engine survey, and inspection. Findings drive a second round of price talks.
7. Closing Documentation
Coast Guard documentation or state title, escrow, marine insurance, sales tax planning, and closing.
8. Post-Closing
Captain intros, crew referrals, marina placement, insurance broker introductions. The relationship does not end at the wire.
Download the full Yacht Buyer's Guide (PDF)
The 18-page playbook I hand every buyer. Category comparison, cost of ownership by category, discovery worksheet, survey and sea trial checklist, and post-closing referrals.
- Full category comparison worksheet
- Total cost of ownership framework by category
- Buyer's discovery worksheet
- Marine survey + sea trial checklist
- Post-closing captain and crew referrals
Guide is ready.
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Download the PDFQuestions? Call Tom directly at 561.596.3946.
What ownership actually costs
Purchase price is only the start. Here is the honest math on annual ownership for a typical $2 to $5M yacht kept in South Florida - your numbers will vary by category, but the framework holds. Dockage runs $18-60K per year depending on LOA and marina. Insurance runs 1-1.5% of hull value annually. Fuel averages $8-25K per year for recreational use, swinging hard by category and hours run. Maintenance and refits run roughly 10% of hull value annually as a working baseline. Add crew at market rates if your category calls for a captain or mate, and $5-25K for winter storage or delivery if you move north for hurricane season.
The rule of thumb I plan against with every buyer: annual running cost of 10 to 15% of hull value. A $2M motor yacht should budget $200-300K a year to own properly. Skip this math before you shop and the purchase price becomes the least of your surprises.
Frequently asked questions
How much does yacht ownership actually cost per year?
Plan on 10 to 15% of hull value annually. That covers dockage ($18-60K/yr), insurance (1-1.5% of hull), fuel ($8-25K/yr), and maintenance and refits (about 10% of hull value). Crew and winter storage add more if they apply.
Do I need a US Coast Guard captain's license to own a boat in Florida?
No. Most owners self-captain smaller center consoles and sportfish boats. Larger motor yachts and superyachts are typically run with a licensed captain, full-time or for specific trips.
What's the difference between YachtWorld and IYBA?
YachtWorld is the public multi-listing search site, searchable with alerts. IYBA is the professional brokers' association that shares co-brokered opportunities, including boats that have not hit public listings yet.
How does the marine survey work?
You select and pay an independent SAMS or NAMS accredited surveyor, typically $18-25 per LOA foot, plus a separate engine survey at $1,500-4,500. The written report arrives in 3-5 days and drives the second round of price talks.
Is Florida a good state for yacht sales tax purposes?
Yes. Florida caps sales tax on yachts at $18,000 regardless of purchase price. If you plan to register out of state, we plan the sales tax strategy well in advance of closing.
Can I finance a yacht like I would a home?
Not exactly. Marine lending has different rates and terms than a home mortgage. If financing, talk to a marine lender early - I can introduce you to two or three.