New vs pre-owned: depreciation, warranties and the second-hand market
New boats lose value fastest in the first years. Used boats cost less to hold and carry no builder warranty. Compare the cost per year of each.
Updated 3 min read
Key points
- Depreciation is the largest cost of owning a new boat, and it is steepest in the first years.
- A consumer who buys from a business in Spain has a legal guarantee: 3 years on new goods, and at least 1 year on used goods if the contract says so. A private seller gives none.
- Judge a used boat by its maintenance record as well as its age.
Cost per year
Compare two options by what each costs you per year of ownership. Take the price you pay, subtract what you expect to sell for, divide by the years you will hold the boat, and add the yearly running cost.
A made-up example to show the method: a new boat for €300,000 that sells for €240,000 after 4 years loses €60,000, or €15,000 a year. A five-year-old equivalent for €200,000 that sells for €170,000 after 4 years loses €30,000, or €7,500 a year. The figures are invented. Your broker can pull real asking prices for the model you are looking at, and you can run the same sum.
Why new boats lose more
The first buyer pays for the commissioning, the dealer's margin and the fact that nobody has owned the boat before. The second buyer does not. Depreciation then slows as the boat ages, and well-kept boats of popular models settle into a stable resale band.
Warranty
- New boat from a dealer: builder warranty on the hull, and separate engine and equipment warranties from the manufacturers. Read the terms: what is covered, for how long, and who does the work.
- Legal guarantee in Spain: for a consumer buying from a business, the law sets 3 years for new goods. For used goods, the seller and buyer can agree on a shorter period, with a floor of 1 year. We confirm the current text on each purchase.
- Private seller: a private sale usually has no guarantee. The boat is sold as seen, and the survey is your protection. See Why you need your own pre-purchase survey.
What a used boat offers
- A lower purchase price and slower depreciation.
- Equipment already fitted: electronics, canvas, davits, tender.
- A known performance record. You can charter the same model.
What a used boat costs you
- Worn parts: sails, standing rigging, engine mounts, batteries.
- Time spent finding a good one. See How to search for a used yacht in Europe.
- Paperwork risk: VAT status, liens, registration. See Yacht VAT explained: VAT paid vs VAT not paid and Due diligence before you pay a deposit.
When new makes sense
A new boat suits a buyer who wants a specific layout, who will use the builder's warranty, and who will keep the boat for more than 8 years, after the steepest depreciation. See Buying a new yacht: boat shows, build slots, options and commissioning for how a new build works.
Related guides
General information, not legal, tax or financial advice. Rules change; check your own case with a professional or ask us.