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23/05/2023
The impact on the yacht's resale value
When it comes to the resale of a yacht, the refit can play a significant role in the final value. Potential buyers are often willing to pay a higher price for a boat that has undergone modernization and updates using the latest technologies and trends.
According to estimates, a quality refit can increase the resale value of the yacht by 20% to 30% compared to its initial purchase price. This depends on several factors such as the quality of the refit, the overall condition of the yacht, market demand, and specific characteristics of the boat.
The extent of the work undertaken and the owner's personal choices regarding modernization and updates also play a role. The cost of a refit can represent between 10% and 30% of the yacht's initial purchase price.
Long-term cost savings
Another advantage of yacht refit is that it can result in long-term cost savings. By modernizing propulsion systems, navigation equipment, and electrical systems, it is possible to reduce long-term maintenance and repair costs. In addition, certain investments such as renewable energy production systems (hybridization, fuel cells, etc.) can reduce fuel consumption costs.
Competitive advantages for chartering
A modernized and updated yacht with the latest trends can also offer competitive advantages in the chartering market. Indeed, customers are generally fond of new technologies that provide additional comfort: new equipment and technologies can make navigation easier and safer, while improvements to the interior design can make the stay on board more comfortable and enjoyable. This can be particularly important in places like the Caribbean or the Mediterranean, where competition among yacht charters is high.
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