Buyer's Guide
How to Buy a Yacht
in Florida
A straight-talking guide from a 500-ton licensed captain and 30-year broker. No fluff. Just the process, the costs, and what to watch out for.
Paul Denton Jr.
Partner, Luke Brown Yachts · 500-Ton USCG Captain
The 6-Step Buying Process
Define Your Needs
Start with how you'll actually use the boat. Offshore fishing, coastal cruising, live-aboard, entertaining guests? Each use case changes the ideal hull form, engine configuration, and size. Build in a realistic budget that includes not just the purchase price but annual running costs: fuel, maintenance, dockage, insurance, and crew if applicable. A general rule: budget 10–15% of purchase price per year for upkeep.
Engage a Buyer's Broker
Using a buyer's broker costs you nothing. The seller's broker splits their 10% commission with your broker; you get professional representation for free. What you get: access to every MLS listing plus off-market inventory, an experienced negotiator in your corner, and someone who has actually been aboard most of the vessels they show you. Dealing directly with a listing broker means the other side has an agent and you don't.
Search and Preview
Your broker searches YachtWorld, Boats.com, YATCO, YBAA MLS, and private networks simultaneously. Good brokers preview shortlisted boats before you travel, weeding out the ones with photos that outperform reality. Expect to seriously consider 3–5 boats before making an offer. Off-market vessels (boats whose owners haven't listed publicly but would sell at the right price) are only accessible through broker relationships.
Make an Offer
The purchase agreement specifies price, deposit amount (typically 10% of asking price), survey and sea trial dates, and contingency terms. Deposits are held in escrow, fully refundable if the survey or sea trial reveals material issues. Negotiating the initial price sets the anchor for the whole transaction; experienced brokers know current market comps and what the seller will actually accept versus what they're asking.
Survey and Sea Trial
Hire your own SAMS or NAMS certified marine surveyor; never use one recommended by the seller. Cost: $15–25 per foot of vessel length ($900–$1,500 for a 60-footer). Engine surveys run $500–$1,000 per engine. The surveyor inspects hull structure, systems, electronics, safety equipment, and engine room. The sea trial confirms everything performs under load. Survey findings are your negotiating leverage; use them to request repairs, a price reduction, or a credit at closing.
Close the Transaction
Funds wire to the closing agent's escrow account. The agent confirms clear title, verifies no outstanding liens, handles USCG documentation transfer, and releases funds to the seller. Florida charges 6% sales tax on private vessel purchases, capped at $18,000 regardless of purchase price, a significant advantage for high-value transactions. Total closing costs (taxes excluded) typically run $2,000–$8,000 depending on vessel size and documentation complexity.
What Does Buying a Yacht Cost?
Beyond the purchase price, here are the transaction costs you should budget for. Florida's $18,000 sales tax cap is a significant advantage for higher-value purchases.
What to Look For (That Photos Won't Show You)
Listing photos are marketing. Here's what I check on every boat I preview for a buyer:
- Engine hours relative to engine type and year: a 1,500-hour diesel in a 2015 boat is different from 1,500 hours in a 2022
- Oil analysis records: consistent trending tells you more than any visual inspection
- Osmotic blistering on fiberglass hulls below the waterline (cosmetic vs. structural is a critical distinction)
- Soft spots in the deck or transom; poke around with your foot, don't just walk
- Raw water cooling systems: bronze fittings, impeller condition, heat exchanger state
- Electronics age and brand: a full Garmin/Furuno refit can run $30,000 to $80,000 on a larger vessel
- Generator hours and service history: often the most neglected system on a used boat
- Holding tank and discharge systems: non-compliant setups can be expensive to correct
Common Questions
How much does it cost to buy a yacht in Florida?
Beyond the purchase price, budget for a marine survey ($15–25/ft), engine surveys ($500–1,000/engine), USCG documentation transfer ($200–400), and Florida sales tax (6%, capped at $18,000). Your buyer's broker is free; they're compensated by the seller's side of the commission.
How long does buying a yacht take?
From accepted offer to keys in hand, expect 2–6 weeks. Surveying and sea trial typically take 3–5 days to schedule once the offer is accepted. Closing usually takes 5–10 business days after a clean survey. Complex title issues or financing can extend the timeline.
Do I need a license to own a yacht?
No license is required to own a yacht in the US. To operate it, requirements vary by vessel size and state waters. Florida requires a boating safety education card for operators born after January 1, 1988. For vessels over 26 feet in federal waters, there are no recreational licensing requirements, though practical training is strongly recommended.
What's the difference between a buyer's broker and a listing broker?
The listing broker represents the seller's interests. A buyer's broker represents yours. In a dual-agency situation (same broker represents both parties), neither side gets full advocacy. Using your own buyer's broker costs nothing extra; the commission is split from the seller's side, ensuring you have professional representation throughout.
Should I buy new or used?
Used yachts typically offer 30–50% more boat per dollar than new. Depreciation on new vessels is steep in the first 3–5 years. A well-maintained, surveyed pre-owned vessel from a reputable builder is often the better value. New makes sense if customization, warranty, or financing rates are the priority.
Ready to Start Looking?
I offer free, no-pressure consultations. Tell me what you're looking for and I'll tell you honestly whether the market can deliver it, and at what price.