New-build gives full customisation with 3–5 year delivery and 30–50% premium. Brokerage is immediate, 30–50% cheaper, with known history. Top-tier yards (Feadship, Lürssen) have delivery slots from 2029.
New-Build vs Brokerage Superyacht — Which to Buy?
Every superyacht buyer faces the same core question: build exactly what you want and wait 4 years, or buy an existing vessel at 30–50% less and be afloat next summer? Neither is universally correct. This guide sets out the financial, practical, and timing trade-offs in full — so you can make the right decision for your situation.
Head-to-head comparison
| Factor | New-build | Brokerage |
|---|---|---|
| Cost vs equivalent | 100% (baseline) | 50–70% of new-build cost |
| Delivery timeline | 36–72 months | Immediate (30–90 days to delivery) |
| Customisation | Full — hull, layout, systems | Limited refits only |
| Warranty | Full builder warranty (2–5 yrs) | No warranty — as-is condition |
| Maintenance history | Known (from day 1) | Variable — survey required |
| Depreciation risk | Highest in years 1–3 (15–20%/yr) | Already depreciated — 5–8%/yr |
| Charter readiness | 6–12 months after delivery | Immediately (if already certified) |
| Technology | Latest systems, efficiency | Older systems — possible upgrades needed |
| Compliance | Built to current standards | May need SOLAS/flag updates |
| Financing availability | Construction financing available | Marine mortgage standard |
The new-build process
Brief development
1–3 monthsDefine size, layout, performance, range, and style with a naval architect or specialist new-build broker. Preliminary specification and budget established.
Yard selection & contract
3–6 monthsYard selection based on specialisation, current order book, and your preferred yard tier. Construction contract negotiated — typically includes progress payment schedule, quality standards, and delivery timeline guarantees.
Design phase
6–12 monthsNaval architect completes structural design; interior designer completes all interior schemes. Owner's representative makes key decisions on layout, materials, and systems.
Construction
24–48 monthsHull built (steel or aluminium), outfitting progresses. Owner representative inspects at key milestones: keel-laying, structural completion, launching, systems commissioning.
Sea trials
1–3 months before deliveryBuilder's sea trials followed by owner's sea trials. Performance tested against contract specifications. Defects list (snagging list) raised and agreed.
Delivery
Day 0 for youFormal handover, final payment released. Classification society issues commercial trading certificates if the vessel is to charter. Flag state registration completed.
The brokerage purchase process
Search & shortlist
2–8 weeksCentral listing databases (MYS, YachtCharterFleet, broker proprietary databases) yield candidates. A specialist buying broker narrows to 3–5 vessels fitting the brief.
Viewing & LOI
1–4 weeksPhysical inspection of shortlisted vessels. Letter of Intent (LOI) submitted for preferred candidate — non-binding, establishes price and terms framework.
Survey & sea trial
2–4 weeksIndependent IIMS-accredited surveyor inspects hull, mechanical, electrical, and safety systems. Sea trial conducted under captain's supervision. Survey findings inform final price negotiation.
Contract & closing
2–4 weeksMemorandum of Agreement (MOA) signed. Deposit (usually 10%) held in escrow. Closing payment wired on delivery. Flag transfer, ownership registration, and insurance arranged.
Delivery
30–90 days from LOIPhysical delivery of vessel at agreed port. All documentation transferred: class certificates, survey records, safety certificates, crew records, maintenance logs.
Price comparison — same vessel, new vs brokerage
Indicative 2025–2026 market pricing. Brokerage prices vary significantly with condition and ownership history.
| Vessel | LOA | Builder tier | New-build price | 5-yr brokerage | 10-yr brokerage | Saving (5yr) |
|---|---|---|---|---|---|---|
| Motor yacht | 35–40m | Production | €8M–€15M | €5M–€9M | €3M–€6M | ~35–40% |
| Motor yacht | 40–50m | Semi-custom | €15M–€30M | €9M–€18M | €5M–€12M | ~40% |
| Motor yacht | 50–60m | Full custom | €30M–€55M | €18M–€35M | €10M–€22M | ~40% |
| Motor yacht | 60–75m | Full custom | €55M–€100M | €35M–€65M | €20M–€42M | ~35% |
| Sailing yacht | 40–50m | Semi-custom | €12M–€25M | €7M–€15M | €4M–€9M | ~40% |
New-build vs brokerage — FAQ
Should I buy a new-build or brokerage superyacht?
The right answer depends on your timeline, budget flexibility, and customisation needs. New-build: full customisation, warranty, latest systems — but 3–5 year delivery and 30–50% premium over equivalent brokerage. Brokerage: immediate delivery, 30–50% cheaper, known vessel history — but limited customisation and potential deferred maintenance. If you want the yacht for next summer, buy brokerage. If you have a strong vision for a custom vessel and a 4-year timeline, commission a new-build.
How much cheaper is a brokerage yacht than new-build?
A comparably specified brokerage superyacht typically costs 30–50% less than an equivalent new-build. The discount increases with age: a 5-year-old Feadship 55m may ask €25–30M versus €45–55M new; a 10-year-old vessel may ask €15–20M. Depreciation is steepest in years 1–3 (15–20% per year) and slows to 5–8% per year for vessels over 10 years. An impeccably maintained 7–10 year vessel from a premium yard often represents the best value in the superyacht market.
How long does a new-build superyacht take?
Delivery timelines from leading yards in 2025–2026: semi-custom production builders (Heesen, Sunseeker, Princess) 18–36 months; full-custom yards (Feadship, Lürssen, Abeking & Rasmussen) 48–72 months. The current superyacht order book is full — Feadship and Lürssen have delivery slots in 2029–2031. If you sign a new-build contract today at a top-tier yard, you will not take delivery until 2029–2031. Heesen and CRN have somewhat shorter queues (2027–2028).
What are the risks of buying a brokerage superyacht?
Key brokerage risks: deferred maintenance hidden by cosmetic work (always commission an independent survey); complex ownership history (flag, management company changes — check the vessel's legal history); out-of-date compliance (SOLAS, MCA/flag state requirements evolve — older vessels may need expensive upgrades to charter commercially); and older systems (watermakers, generators, stabilisers on 15+ year vessels may need replacement). Engage a specialist marine surveyor (IIMS-accredited) and a maritime lawyer for any purchase above €5M.
Can I charter a new-build superyacht while it's being built?
No — you cannot charter a vessel that doesn't exist. However, some buyers incorporate charter revenue projections into their new-build business case: the vessel is delivered, classified for commercial charter, and entered into a charter management programme. First charter season revenues can begin within 3–6 months of delivery, though in practice year one charter revenue rarely recovers more than 15–20% of annual running costs while the vessel establishes a market reputation.
What is the resale value of a new-build vs a brokerage purchase?
New-builds from premium yards (Feadship, Lürssen, Amels) hold value better than production builds. A well-maintained 5-year-old Feadship may retain 65–75% of its purchase price. A production build at the same age may retain 50–60%. Brokerage purchases, already discounted from new, face less absolute depreciation but similar percentage curves. Market conditions matter significantly — post-2020 superyacht price inflation meant buyers who purchased in 2019–2020 saw their vessels appreciate 20–40% by 2022–2023.
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