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The First Owner’s Reference · Chapter 04 · Checklist

The acquisition discipline, in fifteen items.

The contract is set by closing. The acquisition window is the first ten weeks. The items below are what to complete in that window.

Part 01Shortlist

  1. 01

    A shortlist drawn from at least two brokerages, plus an independent off-market scan.

  2. 02

    Budget shared only with the independent adviser, not with parties paid contingent on a sale.

    Budget conversations are with the adviser. Broker conversations are shaped by use case.

  3. 03

    Shortlisted yachts walked in the company of the independent adviser as well as the broker.

Part 02Pre-purchase survey

  1. 04

    An independently engaged surveyor, with no relationship to the broker.

    Wolfson Marine, Ward & McKenzie, Patton Marine, and Winterbothams are recognised firms.

  2. 05

    Survey scope sufficient for the yacht (4 to 7 days afloat plus haul-out, USD 25 to 60 k, full mechanical and electrical, paint specialist, class society inspector).

  3. 06

    A renegotiation, on every material deficiency the survey finds.

    Renegotiation on material survey deficiencies is standard practice.

Part 03Sea trial

  1. 07

    The buyer’s own captain candidate, surveyor, and (where relevant) chief engineer present.

  2. 08

    Trial scope covering the failure modes the survey identified, plus stability, vibration, noise, and electronics under representative load.

  3. 09

    Readiness to renegotiate or walk away if the trial reveals issues, rather than closing on schedule.

Part 04VAT, flag, registration

  1. 10

    A separate written legal opinion from independent counsel on the VAT structure.

    Hill Dickinson, WFW, Ince, Stephenson Harwood, Reed Smith are recognised firms.

  2. 11

    Flag-state choice analysed against owner residence, cruising area, charter intent, financing, and family-office structuring.

  3. 12

    Projected annual compliance cost (EUR 50 to 150 k on a 40 m yacht) included in the operating budget.

Part 05Closing

  1. 13

    A contract with clean title warranties, an inventory matching the sale, agreed deficiencies remediated or priced, an acceptance protocol with adequate time, and a governing law clause that is not the seller’s home jurisdiction.

  2. 14

    A 3 to 5 day technical handover with the seller’s captain, the buyer’s captain, and the chief engineer.

  3. 15

    A closing schedule resistant to acceleration.

    Closing acceleration is the seller’s interest, not the buyer’s.