Buying
How to Buy a Yacht Privately
The process end to end, from defining criteria to closing.
8 min read · Updated
A private purchase differs from a public one in how the yacht is found, not in how it is bought. The contractual machinery is identical. What changes is everything that happens before the offer.
In short
How do you buy a yacht privately?
Define specific acquisition criteria, engage a representative with genuine owner relationships, review masked opportunities and approach owners of matching vessels, make an offer subject to survey and sea trial once a yacht is identified, complete diligence, and close through an escrow agent with maritime counsel on both sides.
Is buying a yacht privately different legally?
No. A private purchase uses the same memorandum of agreement, the same deposit and escrow structure, the same survey and sea trial conditions, and the same closing and registration process as a publicly listed sale. Confidentiality affects the search, not the contract.
Do I need a lawyer to buy a yacht?
For any significant purchase, yes. Maritime counsel handles title verification, the memorandum of agreement, lien searches, and the ownership structure. Above roughly $10 million, where transactions are frequently structured as company share sales, it is not optional.
Step one: make your criteria specific
This is where most private searches fail before they start. 'Something around 120 feet, maybe $12 million' cannot be acted on, because it does not distinguish between forty vessels that are wildly different propositions.
Useful criteria specify length range, hull form, build era, build region, cruising intentions, crew tolerance and a budget you have actually committed to. That level of definition turns a vague brief into a list of specific yachts someone can approach.
Step two: get access
Register your criteria with someone who has real owner relationships, and be honest about your position. A representative who understands you are a genuine buyer at $12 million will approach owners differently from one who suspects you are exploring.
Step three: assess masked opportunities
You will be shown vessels described without identity. Judge them on what is published — class, proportion, era, build region, condition, cruising area and price band — and on whether the acquisition rationale makes sense.
Where an opportunity looks worth pursuing, request the confidential detail. Expect to answer questions about your position first; that is the qualification step, and it exists because the owner asked for it.
Step four: the offer
Offers are made subject to survey and sea trial, with a deposit of typically ten percent held in escrow. The memorandum of agreement sets an acceptance period during which you complete diligence and may withdraw or renegotiate on the survey findings.
Never make an unconditional offer. The conditionality is what protects the deposit, and no reputable seller will expect you to waive it.
Step five: diligence
A full condition and valuation survey, an engine and machinery survey, and a sea trial. On larger vessels, add a review of class and flag standing, crew contracts, management agreements and any outstanding survey conditions.
Instruct your own surveyor. A surveyor recommended by the selling side is not independent, however competent they may be.
- Condition and valuation survey, out of the water
- Engine, generator and machinery survey with oil analysis
- Sea trial covering full operating range, not a harbour run
- Title, lien and registration search through maritime counsel
- Class and flag standing, with any outstanding conditions listed
Step six: closing
Funds move through an escrow agent, title transfers, and registration is filed in the chosen jurisdiction. Where the yacht is held in a company, the transaction may transfer shares rather than the vessel itself, which changes the diligence and the tax position materially.
Confidentiality provisions frequently survive closing, which is why private transactions rarely appear in market data afterwards.
Put this to use
Frequently Asked Questions
How long does a private yacht purchase take?
Finding the right yacht usually takes three to nine months. Once terms are agreed, closing typically takes four to eight weeks, driven mainly by survey and haul-out scheduling.
What deposit is normal?
Around ten percent held in escrow on signing the memorandum of agreement is common practice, refundable according to the agreed survey acceptance terms. The amount and refund terms are set in the contract.
Can I remain anonymous as a buyer?
To a degree. Your identity is generally required at closing for title and anti-money-laundering purposes, but it need not be disclosed to the owner during negotiation, and purchases through corporate structures are common.
Should I use a buyer's broker?
For a private acquisition, strongly recommended. The seller's side is represented; without your own representation you are negotiating and conducting diligence alone against people who do this professionally.