A pre-owned yacht suits buyers who want to use it soon or pay less for the size; a new build suits buyers who want a layout they cannot find and can wait, typically three to five years for full custom (Burgess). New yachts lose value fastest: Ocean Independence puts it at often about 10% in the first year and 6–8% a year after.
At a glance
| Published price bands, 24–40 m | New build $5M–$15M; pre-owned $2M–$10M (Ocean Independence, 2026) |
| Time to use it | Full custom: typically three to five years (Burgess); pre-owned: once the purchase completes |
| Loss of value | Often about 10% in the first year, then about 6–8% a year (Ocean Independence) |
| Running costs | About 10–15% (Fraser) or 10–20% (Ocean Independence) of value a year, either way |
| The one thing to check | For pre-owned, the survey and refit history; for new, the build contract and how stage payments are protected |
The trade-off
| New build | Pre-owned | |
|---|---|---|
| Price | Highest for the size | Lower for the same size |
| Time to use it | Years for full custom; less for semi-custom | Once the contract, sea trial, survey and closing are done |
| Design | Your layout (full custom) or a proven platform you personalise (semi-custom) | What exists, changed later by refit |
| Condition risk | Early faults; what the yard covers is set by the build contract | Hidden wear or corrosion; needs a thorough survey |
| Value over time | Loses value fastest in the first years | Much of the early loss already taken |
| Known history | None yet | Logs, refit records and charter history to check |
Price
Ocean Independence's 2026 guide gives indicative price bands by size:
| Length | New build | Pre-owned |
|---|---|---|
| 24–40 m | $5M–$15M | $2M–$10M |
| 40–60 m | $15M–$40M | $10M–$30M |
| 60 m and over | $50M–$150M+ | $30M–$100M+ |
The same guide gives a rough benchmark of about $1 million per metre of length for fully custom builds. It does not apply to every new build: semi-custom and series yachts can cost much less, which is why the bands above start lower. Within each band, the yard, the finish and the equipment move the price a long way.
Time
Burgess says a fully custom yacht typically takes three to five years from design to delivery, and that full custom builds are mostly yachts over 55 m. Semi-custom yachts are built on a platform the yard has already designed and engineered, so building can start sooner.
A pre-owned yacht can be used as soon as the purchase is complete. Our guide to buying through a broker walks through those steps.
How value falls
Ocean Independence says the first year typically brings the largest fall in value, often about 10%, and that values then tend to fall about 6–8% a year. Fraser makes the same point another way: a new build enters the market at its highest value.
Illustration: five years of value loss
| Assumption | Value after five years | Loss |
|---|---|---|
| 10% in year one, then 6% a year for four years | About $7.03M | About 29.7% |
| 10% in year one, then 8% a year for four years | About $6.45M | About 35.5% |
Method: $10M × 0.90 × 0.94⁴ ≈ $7.03M, and $10M × 0.90 × 0.92⁴ ≈ $6.45M. Someone buying that yacht at five years old pays for what is left. Ask a broker for actual resale prices of similar yachts.
Condition and running costs
A new yacht has no wear, but early faults are common. What the yard repairs, and for how long, depends on the warranty terms in your build contract, so read them before you sign.
A pre-owned yacht's condition is the main unknown. Fraser warns that a vessel with hidden corrosion or layout limits can absorb money without giving the owner what they wanted. A full survey and sea trial are essential; see surveys and sea trials.
Running costs are a guide only: about 10–15% of value a year (Fraser) or 10–20% (Ocean Independence). They do not fall in step with resale value: crew, berths and maintenance cost what they cost. Fraser expects a major refit every five to seven years, so check when the last one was done before you agree a price.
Semi-custom: the middle way
Burgess describes semi-custom yachts as a proven platform with room to personalise, shorter lead times and more competitive pricing than full custom, because the yard spreads the design and engineering costs. The structure is largely fixed.
Money during a build
A new build is paid in stages as it is built, so large sums are committed years before you can use the yacht.
What to ask your broker
- What have similar yachts from this yard sold for at three, five and ten years old?
- When was the last major refit, and what is due next?
- For a new build: is there a semi-custom platform close to what I want, and what are its delivery slots?
- For a new build: what does the warranty in the build contract cover, and for how long?
- For a pre-owned yacht: what is its maintenance and class history, and has it chartered?
When this is not the right choice
- You expect to use a yacht for only a few weeks a year. Compare chartering first; see charter or buy.
- You are not sure what you need. Chartering or using an existing yacht can help clarify your needs before committing to a custom build.
- You need the yacht next season. A full custom build cannot deliver that.
If you would like to compare real new-build slots and pre-owned listings, one of our partner yacht sales brokers can help.
Questions people ask
How long does it take to build a yacht?
Burgess says a fully custom yacht typically takes three to five years. Semi-custom yachts can start sooner because the yard has already designed and engineered the platform. Delivery slots depend on the yard's order book, so ask a broker.
How fast does a new yacht lose value?
Ocean Independence says values often fall about 10% in the first year, then about 6–8% a year. Applied to a $10 million yacht, that would mean about $6.45M–$7.03M after five years, a loss of about 30–36%. Actual resale values can differ substantially.
Is a pre-owned yacht cheaper to run?
Not necessarily. Published guides put running costs at about 10–20% of value a year either way, and they do not fall in step with resale value. An older yacht may also need a major refit soon; Fraser expects one every five to seven years.
What is a semi-custom yacht?
A yacht built on a platform the yard has already designed and engineered, which you personalise. Burgess says it offers shorter lead times and lower prices than full custom, but the structure is largely fixed.
Sources
- Ocean Independence, How Much Does a Superyacht Really Cost? (2026 Guide), read 29 Oct 2026
- Burgess, Build or buy, read 29 Oct 2026
- Fraser Yachts, Refit vs new build yacht: which is right for you?, read 29 Oct 2026
- Fraser Yachts, Hidden costs in yacht ownership, read 29 Oct 2026
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