When it comes to buying a superyacht, the brokerage market can seem overwhelming – from acronyms to terminology to the entire sales process. For new clients seeking their very own floating palace, or owners needing a market refresh, BOAT breaks down everything you need to know about the different stages involved in buying a superyacht.
Superyachts for sale
A superyacht for sale refers to a yacht over 24 metres in length that is listed on the brokerage market and therefore available for purchase. Superyachts are typically listed for sale with professional yacht brokers via a brokerage listing but they can also be sold through private deals.
Types of superyachts listed for sale
Pre-owned yachts
The majority of superyachts listed for sale in the brokerage market are pre-owned or second-hand, meaning that they have had at least one owner since they were first launched. Despite "used" having an initial negative connotation, these yachts can range from recent new builds to older models maintained to high standards. The price of a yacht is dictated by its length, condition, age and amenities, among other things.
New yachts
While the brokerage market is mostly dominated with pre-owned yachts for sale, brand new superyachts can also be available for purchase, typically listed for sale with brokers who have a partnership with the shipyard or sometimes directly listed by the shipyard itself. New-build yachts tend to offer impressive levels of customisation, the latest technology, cutting-edge design and new warranty benefits. They can either be listed for sale as a concept or listed as a yacht currently under construction that is being built on speculation.
What is a new listing?
A new listing refers to a superyacht – either pre-owned or new – being recently added to the market and therefore available to purchase. The term means that the yacht is being sold through a professional yacht broker (rather than directly by the owner), who will act as an intermediary to help owners find buyers and ensure a smooth transaction.
What is a central agent (CA)?
When a superyacht is listed for sale exclusively by one professional yacht broker, that broker then becomes the central agent (CA) of the superyacht. The CA is appointed by the owner to manage the sale of a yacht on their behalf and will handle the marketing, negotiations and enquiries of the yacht, as well as coordinating viewings on board. Ultimately, the role of the CA is to ensure a hassle-free sales transaction. Other brokers can still introduce interested buyers but all dealings must go through the central agent. The term CA can also refer to superyachts available for charter.
What is a joint central agency (JCA)?
A joint central agency (JCA) means that instead of one exclusive central agent, there are two or more yacht brokers involved in listing a superyacht for sale. Instead of a single central agent managing the process, multiple brokers work together to handle marketing and viewings. This increases the exposure to the superyacht while still ensuring a professional sales process.
What does a change in CA mean?
A change of CA simply means that the central agent overseeing the superyacht's sales listing has been switched. This can happen when an owner decides to appoint a new brokerage or broker to oversee the sale, sometimes seeking alternative marketing opportunities, industry connections, or occasionally because of dissatisfaction with the listing's performance.
Read More/Who's who? Your guide to buying brokers, dealers and representatives when buying or selling a yachtWhat is a price drop?
A price drop or price reduction refers to the asking price of a yacht for sale being reduced. Owners lower the price to generate fresh interest and attract more buyers, hoping to speed up the sale. Price drops can signal an owner who is motivated to sell, suggesting opportunities for buyers to negotiate a better price.
What does sold mean?
When a superyacht is sold, it means that it has been successfully purchased and the sale is complete. This indicates that the yacht is under the hands of a new owner, with all contracts and payments finalised.
For more expert superyacht tips and essential yachting advice, explore our latest yacht advice guides. For expert advice on yacht buying and selling, explore BOAT International’s latest yachts for sale and listings.