I'm Gigi M. Knudtson. My experience in luxury asset advisory has taught me that a yacht is more than a purchase; it's the beginning of a relationship. The biggest mistake prospective owners make is falling in love with the aesthetics of a vessel before understanding the reality of its operation. The right yacht feels like freedom; the wrong one becomes a burdensome, depreciating asset that demands constant attention and capital.
This guide is designed to be your rational companion through an emotional journey. We'll systematically evaluate every critical decision point, from the fundamental choice between sail and power to the hidden costs that surprise first-time owners. My goal is to equip you with the framework to make a choice you'll celebrate for years, not regret.
Before you look at a single hull, answer these questions with brutal honesty. This mission statement will guide every subsequent choice.
How many people will regularly sleep aboard? Add two for comfort. Will you have a permanent captain and crew, or will you operate it yourself (owner-operate)? A vessel over 60-80 feet typically requires professional crew.
In my experience, the single best piece of advice for a first-time buyer is to charter first. Charter the type of yacht you think you want, for the duration you plan to use it. A week on a 60-foot sailing catamaran in the Caribbean will teach you more about your real preferences than a year of research. It reveals the nuances of space, motion, and daily life you cannot get from a spec sheet.
By Gigi M. Knudtson, Founder
The market is segmented by propulsion, hull design, and purpose. Each has a distinct personality and performance profile.
[VISUAL: Yacht Type Comparison Infographic]
Icons and brief specs for: Motor Yacht, Sailing Yacht, Sailing Catamaran, Explorer Yacht, Sportfish Yacht, and Trailerable Yacht. Columns for: Best For, Typical Size Range, Key Feature, Operating Cost (Low/Med/High).
The purchase price is the entry ticket. Annual operating costs are the real commitment. A prudent rule is the 10% Rule of Thumb: expect annual costs to be 10% of the yacht's original purchase price. This can vary widely based on size, age, and usage.
This is a fundamental decision with major implications for timeline, cost, and customization.
Once you've defined your mission and narrowed your search, follow this disciplined process.
A survey is a snapshot of condition. It will list findings as "Recommend" (for improvements) or "Require" (for critical safety/operational items that must be fixed for insurance).
While yachting is international, your home port state impacts taxation, registration, and regulation. The choice of where to document and base your yacht is a significant financial decision.