What to settle, before the refit contract.

Projected refit cost as a percentage of the yacht’s pre-refit market value.

Above 30 percent, sale is the standard alternative. Below, refit is the standard path.

Strategic fit of the post-refit yacht against the actual continued use case, on paper.

The alternative arithmetic (sale, reacquisition of comparable hull, depreciation, transaction cost, crew continuity loss) tested against the refit case.

A yard appropriate for the scope (paint, structural, mechanical, interior) and tonnage.

Yard slot booked 12 to 18 months ahead of the work itself, in line with current top-yard lead times.

Selection on track record, alignment, and project manager experience, rather than cheapest quote.

Scope defined in writing, with specific deliverables, materials, and finishes, before the contract is signed.

Owner’s representative review and edit of the scope, line by line.

A contingency reserve of 15 to 25 percent included in the budget.

This is the empirical opened-up-vessel pattern.

Payments tied to defined deliverables (paint cells complete, engine reinstall complete, sea trials passed) rather than calendar dates.

A final payment held against snag list closure, after redelivery, to incentivise warranty discipline.

Owner’s representative on site at least one day per week, with photographic snag list and quantified variance against budget.

VAT structure (Spanish IPR if applicable, French Commercial Exemption, Maltese leasing) analysed and selected by independent counsel.

Builder’s risk insurance verified, with the buyer’s interest noted and the policy covering transit between subcontractor sites.