Over the last three years our mind set has moved from luxe to uber luxe. Its all about the lifestyle. The buzzwords are aircrafts, helicopters and yachts. Having dealt in boats for more than a decade, I have seen more interest in the last one year than in the entire previous ten years.
And by far the most interest has been generated by people who have never even stepped onto a boat. It is the lifestyle that entices them. But bewildered by literally hundreds of choices out there, they have neither the knowledge to make an informed choice or a neutral place to turn for answers.
Below is an attempt at de-mystifying the process of choosing, buying , owning and using boats.
Having been asked by so many people – which is the right boat for me, my favourite answer is “Would you buy an expensive suit without trying it out? or Beyond the actual obvious reasons of buying or owning a handbag, what really attracts one person to a |Gucci bag while to another Louis Vuitton is an obvious choice ?”
Buying a boat is a bit buying your first suit – you need to see what suit works for your lifestyle and your own budget – one size does not fit all. Having picked the size, what brand to go for again is a function of an individual choice and budget. And of course if budget is no concern then do give me a call – I am able to spend money faster than you can provide it and not just on boats !!
So even before you start looking at boats, there are some basic questions you need to ask yourself. First of course is the obvious one – sail or power. But this one is a pretty easy one since this one comes pretty instinctively.
But beyond that I would really do is go back to the first suit purchase process – how often will I use it and where ? how much do I want to spend, what material do I want it in based on where will I use it, how will I maintain the suit, do I want a brand or just functionality ? Apply these to the yacht purchase.
What size boat do I want, how much often will I use it and where, how much do I want to spend, how will I maintain it and how much do I want to spend on maintenance, do I want a European brand or a better priced functional one.
But before we do down the road of purchase there remains the first rule of suit purchase – you have narrowed down your budget, you have picked a range of brands and you have decided what you want to do with it – but you still got to try it.
So first order of the day is really charter – the fact is that there are huge economic and advantages in chartering a boat before buying a boat.
At the risk of using too many analogies its like buying a car – you do test drive a lot of cars before deciding or buying a Porsche or a Lamborghini and I can bet you there are very few first time purchasers that buy the top end. So it is with a boat – charter different sizes and different types before you make your pick
There are many things you will discover:
- How often are you actually using the boat
- Are you willing to spend this kind of money to own a boat and maintain it ?
- You might start out wanting a 40 ft two bedroom super luxury Italian brand but end up discovering that you need a bigger boat and you are willing to buy a bigger size but with a slightly less known brand
- You are happy to actually just continue chartering on need base instead of becoming an owner.
It is highly recommended to charter is because a boat purchase is way too expensive a mistake to make !! You don’t want to spend half a million dollars to discover that you wanted a bigger or a smaller size or a different brand. Also it is rather an illiquid asset – the volume of boats being used or bought in India is not large enough to have an active second hand market. It will come in the coming years but for the moment it is still very small.
For the moment in India you can charter yachts primarily in Mumbai and Goa. While the numbers are a few, there are enough in size to get a sense of use.
For the functional use – going from point A to point B eg Mumbai to Mandwa – pick a 20-25 footer, a 30 footer and a larger 36 footer. You can get a pick between the Indian made Lancer, the ever popular and practical Gulf made Silver Craft, the European made North Stars.
For a day out, entertaining or a short cruise down the coast, charter a 47 footer with two bedrooms and comfortable for 10-12 persons or the 66 footer which boasts of xx bedrooms and can entertain upto 25 guests for a meal.
And if you want to go the ‘uber’ luxe way – splurge on the super luxury Ashena - at 146 feet she offers you everything you want on a yacht – multiple bedrooms, multiple water toys – tenders and jet skis, multiple decks, Jacuzzi, ample place to relax or entertain and even an office space to work in.
In Goa, charter a lagoon catamaran, a sailing gullet, a dhow and take a cruise like the pirates on the open seas or backwaters.
Once you have tried the ‘fit’ then its time to go on the serious purchase trail. In the next issue we will demystify the actual purchase process: Outboard vs stern drive, style and brands, size vs quality, luxury vs utility, direct or via a dealer and financing.
