With more than 7,000 islands of natural beauty waiting to be explored, the Philippines is undoubtedly one of the best places to go cruising. And with the country’s location being near the equator, sailing enthusiasts can travel practically all year round and enjoy the archipelago’s blue waters, sunny skies, and abundant marine life.
Local leisure boating used to be perceived as an activity reserved for the wealthy. However, as more people learn the value of spending money on experiences rather than on material things, chartering yachts is steadily gaining popularity in the country. In fact, some people have learned to love recreational boating so much that they are purchasing their own vessels, driving the growth of boat sales to over ₱200 million annually.
Perhaps you also long to cruise Subic Bay or the waters around the Visayas region or the Calamian Islands aboard your own yacht, but you may be hesitant to shell out a considerable amount of money for a new one. If so, why not consider purchasing pre-owned yachts for sale? Here are several reasons why buying a used sailboat or powerboat could be the perfect solution to satisfy your dream of owning one.
More Affordable Option
Price is undoubtedly the primary reason to consider buying a pre-owned yacht. Think about it. A 49 feet brand new cruiser can cost at least ₱57 million, while you can buy a used one at around ₱10 million, depending on the model and features. That is over ₱40 million savings. Even if you factor in the repair and refurbishment costs, you can still save an enormous amount of money if you opt for a used boat.
It is important to note, however, that you need careful attention when buying a pre-owned boat. As much as possible, you should only purchase from a reputable dealer like Europa Yachts Philippines, which has been in the business for more than 25 years. Companies like these care about their reputation in the industry, which is why you can be assured that they will help you find the most suitable pre-owned boat with proper documentation at the most reasonable price.
Slower Depreciation
Just like cars, brand new yachts tend to depreciate in value as soon as you purchase them, but at a much higher rate. As a rule of thumb, you can expect 10 percent depreciation in the first year and approximately 50 percent depreciation in five years. That means if you purchase a brand new yacht at ₱50 million, you can only sell it for ₱25 million after enjoying it for five years.
As the yacht gets older, the price starts to level off. Because of this, pre-owned boats tend to hold their value over time. You can resell your used boat in a few years without suffering considerable financial loss. If you happen to purchase a unique model and keep it in good condition, its resale price may even increase after several years if there is a demand, similar to how it is with vintage cars.
Proven Seaworthy
No matter the design and craftsmanship, there is always a chance that a new boat straight from the factory will have a few issues, such as loose jubilee clips on head piles and faulty seacocks. Most issues are only discovered when the boat has been used for quite some time.
When you purchase a used yacht that is in great condition, you can often be sure that it is truly seaworthy since it has been operating for a few years already, and any issues it might have were likely to have been discovered as well. Nevertheless, it is still prudent to check the used boat you are considering from top to bottom to ensure that no major problems exist.
Easier to Customize
You have the chance to customize your yacht according to your liking when you buy a used one. You can change the flooring, reupholster the seats, or do everything you want to reflect your taste and personality. Take note that even if you carry out a significant aesthetic and technology upgrade, the cost could still be much less than when you’re purchasing a new yacht.
Business Opportunity
If you want to enjoy the benefits of having your own yacht that you can use with your family to explore the Philippines,but you are also a bit worried about the expenses, buying a used boat and renting it out could be a win-win solution. Chartering your yacht to local and international tourists is a great way to reduce the financial burden of boat ownership.
As mentioned above, the Philippines’ lush tropical islands offer remarkable and unique experiences to travelers. From the breathtaking Manila Bay sunset to the stunning scenes off the coast of places like Subic, Puerto Galera, Cebu, Bohol, Siquijor, Panay, Romblon, and Guimaras, you will not run out of exciting places to offer your guests.
Note that it would also be less stressful to rent out a used yacht than a new one since you do not have to worry about strangers doing damage to a brand-new property. You can enjoy your boat any time you want and let the renters have their fun when you’re not using it. From the money you make, you can pay for insurance, maintenance, and even payroll expenses for a permanent crew. Who knows? You may even save enough to purchase another yacht.
Indeed purchasing a pre-owned yacht is a pretty good option, especially if you want the benefits of ownership without the financial burden. However, keep in mind that, as with other major financial decisions, it is best to take your time and do your homework properly before closing the deal. Tap the help of a boat surveyor to assess the condition of the used yacht you are eyeing, and purchase only from a reputable yacht dealer in the Philippines.
