How A Yacht Broker Quickly Identifies Boat Problems
This or That? Four Tips to Comparing Yachts
Oh, look! The market tides have turned. Supply is up, and as a buyer, you’ve got options! But sometimes that’s as much a curse as it is a blessing. Options mean comparison, analyzation, and ultimately, making a big decision. It bears repeating: when buying a boat, you’re buying ALL the good and bad ownership decisions from the previous administration just as much as you’re buying the color of the cushions or that (insert cool option here) that you’ve really wanted. It’s easy to fixate on a boat because of its build sheet, but you should be looking deeper before getting into a costly due diligence period full of inspections and haul outs.
How can you (or your broker) look deeper during an initial showing to identify good or bad characteristics to single out the best boats from the rest? Today, I share four quick tips to help you expedite your selection process.
In today’s blog we discuss:
Four ways to get a boat’s true story during an initial visit
Get yourself acquainted to the underbelly of the beast.
When I’m on the hunt for the perfect yacht and there are multiple formidable options on the used market — especially when they share similar build sheets — we have to dig deeper. Identifying a boat’s true health before survey can save you time, resources and a whole lotta headache. This is especially important when weeding out the bad apples of the group. There’s no bigger buzzkill to a deal than thinking a boat is perfect, only to spend thousands in survey to realize it is a piece of shit.
Here are four easy ways I weed out the bad boats and let the cream rise to the top:
#4: CHECK THE ALARM RECORD
I always have considered this a fair request but with some boats they consider it intrusive. So I tend to check the alarm history in a more sneaky fashion than I probably need to. I use the alarm history as a starting point. By no means does it tell the boat’s full picture, and you should not judge a boat strictly from its alarm history. Boats have problems. Checking the alarm record is more about knowing where to look versus an indictment on the boat’s condition. Keep in mind, the alarm history can be deleted at any time, so a clear history doesn’t necessarily yield a positive. My radar goes up if I see 4 months of ‘water in fuel’ alarms that have yet to be addressed.
#3: EASY TESTING OF AIR CONDITIONING ACCURACY
Whether you’re battling a Floridian summer or just maintaining your boat’s humidity levels, A/C accuracy is paramount to vessel health. If your A/C craps out — especially if you’re unaware about it — Houston, we have a problem. That’s why A/C is at the top of my priority list when comparing options. It’s also one of the hardest things to get a sense of when touring a boat. When you enter a main salon from a steamy summer exterior, your body doesn’t care about a few degree difference, but your A/C compressor cares a lot. And depending on the boat, we could be talking about tens of thousands of dollars.
My nifty HVAC thermometer.
I learned to test A/C accuracy from my favorite aircon vendor, who showed me how to use this nifty HVAC thermometer to get an initial sense of a system. In a quick check, should blow the temperature you command it to blow (it may blow a few degrees lower, in which case, celebration is in order). Any system blowing a higher temperature than the panel commands is under stress in some way. Once I get to the boat, I’ll place our nifty thermometer in the A/C duct while I am touring a boat, and see if the panel and the air temp are being friendly. If so, great. If not, we can add a major system to the issues list.
#2: ASK THE CAPTAIN FOR A TOUR
Of the four tips, I judge this is the most valuable, and its more and more important as the size of the boat increases.
The captain is the owner’s “window” to the boat. They will always know more than the owner (and the broker) about the boat you’re buying. They know maintenance history, current problems, future scheduled work, fuel burn rates, the list goes on and on. I enjoy a captain tour to see the pride they take in their work. Do they offer to show you every last inch of the boat because of how clean it us, or do they close doors as you parole the cabins due to it being unkempt. You’ll learn a lot about the boat you’re considering via a captain’s tour.
Recently I was touring a Sunseeker who’s captain was incredibly welcoming and hospitable. He was early for our scheduled showing and the boat was uncovered, clean and lit up. I opened a cabinet to find custom-made and laminated fire system schematics the captain used at quick reference and to inform guests of protocols. This boat was a good size, but it wasn’t big enough to warrant this kind of detail. I could just tell the captain was neurotic in the best of ways. I was pressed for time but he asked me if I wanted to see the engine room or the tender garage. I said I saw all I needed to see from the laminated papers. He begged me to stay to see the garage, to which I obliged, and it was as immaculate as I had perceived.
Needless to say, this type of tour is a huge positive if you’re having a tough time choosing between similar options.
#1: ASK ABOUT THE LAST 3 THINGS THEY SPENT MONEY ON
This is my favorite one since it has the power to reveal dealmakers or dealbreakers. You just have to be cautious in who, when and how you ask, because you want to make sure you get the truth.
Most of the time you’ll get standard answers like engine & generator services, bottom cleaning and replacement of a fresh water pump. But sometimes you may learn money was spent to remove a stripper pole from the main salon in preparation for the sale. Most of us probably wouldn’t consider this a dealbreaker, but you certainly might spend a little more time surveying the ceiling structure (true story).
In Summary
With more supply of yachts on the market than we’ve seen in recent years, your efficiency when weeding through the clutter will save you time and money. It will also save you from the horrific experience of getting your hopes up on a boat that ends up letting you down in a depressing and costly survey.
Use these four tips to get valuable information that can get you on the water faster.
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About the Author
Reed Nicol is a licensed yacht broker with experience in all corners of the marine industry. He’s worked as an executive and sales director in yacht manufacturing and distribution, has structured commercial charter operations, and designed and executed notable refits. Read more about Reed’s marine journey, his love of helping 1st time boaters and his entrepreneurial spirit here.
Reed Nicol [Licensed FL Yacht Broker #11926]
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