A broker is an intermediary who puts the owner selling his boat in touch with potential buyers. Their aim is to facilitate the transaction between the two parties through their expertise, advice and support.

As a seller, using a broker means that you will be supported throughout the sale process, so that the transaction can be completed in the best possible conditions and as quickly as possible, without you having to deal with the associated constraints.

The role of the broker for the seller :

• Carrying out a detailed price study to ensure the boat is well positioned on the market
• Advice on preparing and showcasing your boat
• Preparation of a comprehensive sales package, including a detailed inventory, photo slideshow, interview file, and more.
• Implementation of a communication strategy (internet, specialised press, newsletter, participation in boat shows, etc.)
• Conducting visits
• Engaging in negotiations
• Drafting of sales-related documents
• Organisation of surveys and sea trials
• Guaranteed availability of the buyer’s funds thanks to a deposit account
• Carrying out the administrative formalities associated with the sale

As a buyer, using a broker means you can benefit from advice, support and follow-up throughout your search and the buying process, ensuring your project comes to life with absolute confidence and full transparency.

The role of the broker for the buyer :

• Defining your project and the search criteria for your future boat
• Search for boats matching your buying criteria and carry out pre-visits if necessary
• Accompanying you on your visit(s)
• Advice and proposals for financing and insurance solutions
• Engaging in negotiations
• Drafting of purchasing documents
• Organisation of surveys and sea trials
• Verification of the vessel’s tax and mortgage situation
• Tracking the transaction
• Carrying out the administrative formalities involved in the purchase

In all cases, the broker is always remunerated on a performance basis, i.e. once the transaction has been finalised.

It’s important to prepare your boat for sale. It must be ready for visits from both the broker who will be putting together the sales file and any potential buyers.

• Depersonalisation : To ensure that viewings go as smoothly as possible, it’s important that the buyer is able to see the property in their own mind. That’s why we advise you to depersonalise your boat. To do this, it’s important to remove all the personal belongings you don’t have any immediate use for on board, and to store those you do want to keep in areas that are not visible at first glance.
• Cleaning : As when selling a property or a car, the cleanliness of your boat is essential when presenting it to potential buyers. A dirty boat is likely to put off interested parties who may think that the boat is unkempt, or even put a definitive stop to any possibility of discussion. It is therefore essential to clean your boat regularly so that it is always in the best condition for visits.
• Small works : All second-hand boats have some minor work or improvements to be carried out, and it’s important not to hide these from the buyer, who may later question the boat’s condition. On the contrary, mention it on the first visit or in the inventory: showing transparency will reassure the buyer. It may also be worthwhile carrying out some work that will require little expense and will enhance the value of your boat, such as replacing oxidised mirrors or taps, polishing or removing yellowing from the hull(s), maintaining the woodwork, etc.

It’s essential to keep track of your boat’s maintenance until it’s sold, so that you don’t neglect it and can present it to potential buyers in the best possible condition.

 1) Which boat is right for my sailing programme ?

When you start looking for your future boat, whether it’s new or used, it’s essential to take the time to define your search criteria, corresponding to your programme, your needs and your expectations, in order to find the boat that’s right for you.

It’s common to fall for a boat you spot in a marina or online, but to make the right purchase, it’s crucial to ensure that your ‘crush’ aligns with your sailing needs and plans.

To help you, it might be worth drawing up a specification for your future boat.

2) What budget should I use to buy my boat?

The key to a good purchase: stick to your budget!

Before you start looking for your future boat, it’s essential to define the budget you want to spend on it (including boat, work and equipment to be added), as this is of course one of the most important criteria in your search.

It’s also important to keep a ‘safety margin’ when you buy your boat, and not spend all your savings on it. You need to think ahead and take into account the running costs of your boat (4) What costs do you need to plan for after you buy?

Finally, there are various possible solutions for financing your boat, and it’s worth taking a look at the advantages (3) How can I finance my boat? ).

3) How can I finance my boat?

There are various possible solutions for financing the purchase of your future boat. Depending on your personal contribution and the boat you want to buy, you can opt for:

• Cash purchase
• Conventional credit
• Leasing with an option to purchase (LOA in French)

To find out more, see the article: What are the different financing solutions?

4) What are the costs after purchase?

Once you have bought your boat, you will need to set aside a budget each year to cover its running costs. This generally corresponds to 10% of the purchase price of your boat and includes :

• Storage (port space, onshore storage, handling costs, etc.)
• Insurance (8) Which insurance should I choose?
• Annual maintenance (antifouling, engine overhaul, safety equipment overhaul, etc.)
• Taxes (In France, you have to pay the Annual Navigation Charges each year).

Of course, this budget may vary depending on your boat, your programme and your sailing area. For example, berths are more affordable on the Atlantic coast than in the Mediterranean, and insurance for a round-the-world programme will be higher than for a coastal sailing programme.

To find out more, see the article: What annual budget for my boat?

5) What storage solution for my boat?

Before you buy your boat, it’s important to think about how it will be stored when you’re not at sea. There are several solutions for this:

• Year-round berths : a solution much appreciated by many yachtsmen. The availability and price of a berth varies greatly from one sailing area to another. In France, the average waiting list for a berth is around 3 years. However, many yachting professionals can rent you one if you call on them to buy or maintain your boat.
• Dry storage : a solution that is attracting more and more boaters. Whether it’s for small boats in dry harbours or for larger vessels that won’t sail for certain months of the year, this solution is increasingly being adopted by boat owners. It is generally less expensive than renting a berth for the year, and allows you to carry out routine maintenance on the boat during the storage period without any difficulty.
• Mooring : an interesting alternative to a harbour place. Mooring offers the advantage of keeping your boat always afloat at a more appealing price than securing a berth in a harbor. However, this means ensuring a good monitoring of its mooring conditions, thanks for example to a monitoring service.
• Alternating between floating and dry storage : a flexible solution tailored to your needs. Adjusting your boat’s storage method based on the season and your sailing plans can be a practical and efficient choice.

6) Do I need a permit?

In France, the boat permit is mandatory for boats whose main mode of propulsion is the engine, both at sea and for river navigation. However, no permit is required to sail a sailboat. (A permit is required to drive an annex with an engine greater than 9.9 HP.)

However, if you feel the need to do so, it may be worth enlisting the services of a professional skipper as part of a training course to help you get started on your new boat. Training is one of the keys to safety at sea.

7) Do I have to have the boat inspected before buying?

It is essential to have the boat examined before the purchase, by an approved maritime expert.

The pre-purchase expertise allows you to ensure the actual condition of the boat you want to acquire and thus allows you to avoid bad surprises.

Usually, the survey is included as a contingency clause in the sales agreement. So, if it is inconclusive that the boat is not declared fit to sail safely, the sale can be cancelled or renegotiated.

The expert is commonly mandated and remunerated by the buyer, in order to guarantee his impartiality with regard to the property under expertise.

The expert report may also be requested by the insurance company to determine the value of your boat.

8) Which insurance to choose?

Although it is not compulsory to insure your boat (except for professional or sports use), taking out insurance is essential!

As with real estate or automobile, there are several levels of insurance possible for your boat, from Civil Liability to “All Risks” insurance. Of course, your insurance premium will depend on the coverage options you have chosen, but also very much on your boat itself (size, age, engine(s)), your program and your sailing area.

Your insurance will have to adapt to your schedule. You won’t be insured in the same way if you sail a few weekends a year on coastal sailing, or if you’re cruising around the world. Similarly, your insurance should take into account your navigation area and the risks associated with it. In the West Indies, for example, you should be covered against cyclone risk.

Whatever the guarantees you want to underwrite, it is best to contact an insurer specialized in the yachting industry in order to be the best advisor and often at more attractive prices.

To know: In general, ports and companies that have an onshore storage facility will ask you to have a liability insurance at least, in order to store your boat.

9) What safety equipment is suitable for my program?

It is essential to have on board the safety equipment that corresponds to your program. In addition to the mandatory equipment defined by the 240th Division. [http://www.developpement-durable.gouv.fr/L-equipement-de-securite-des.html], it can be interesting to have additional equipment on board, especially for a long voyage, such as a distress beacon or survival suit.

Generally speaking, there are no obstacles to buying a boat abroad. On the other hand, certain administrative formalities will have to be carried out to enable the boat to be re-registered. The rules for registering a vehicle vary from country to country, and certain taxes may have to be paid. That’s why it’s a good idea to get professional help with these formalities.

To register your boat with French customs (francisation), your boat must :

• Have been built in the European Union, or have paid the eligible duties and taxes there
• Have undergone a safety check

• Must have at least 50% of its ownership held by :
  – A company (or companies) with a registered office located in France, another European Union member state, or a state party to the European Economic Area agreement.
  – A citizen (or citizens) of a member state of the European Union or a state party to the European Economic Area agreement, with their primary residence or domicile in France.

You bought your boat in a European Union member state :

• You’ll need to complete the standard formalities for registration.
• You will also need to provide proof of the boat’s tax status (in the form of a document provided by the tax office).
• If the boat is new, or considered to be new (less than three years old since it was first launched or having sailed for less than 100 hours), and is longer than 7.5 m, VAT will have to be paid by the purchaser at the rate in force in France.
• If the boat is second-hand and you are a private individual, there is no need to pay VAT in France. However, when you apply to have it registered with customs, you will need to provide the certificate of de-flagging (issued by the seller) as well as proof of the boat’s tax status.

You bought your boat outside the European Union, so you’re going to import it into France :

• You will have to clear your boat through customs by completing import formalities and paying any import duties and taxes that may be due.
• If a private individual imports the boat into France, the customs department will issue a customs declaration based on your verbal instructions, specifying the duties and taxes you will need to pay on the import.
• The CE marking, the builder’s plate and the hull identification number must be visible on your boat. Moreover, your boat must comply with the safety, health, environmental and consumer protection standards established by law.
• You must also have in your possession the written declaration of conformity (or CE examination certificate) and the owner’s manual.
• Only after you have completed the import formalities will you be able to register your boat in France. You will need to present the import declaration stamped by the customs office of entry into the European Union when you go through the formalities to register your boat.

For more information, please visit the French customs website.

Buying a new boat

Buy a second-hand boat

Finally, your choice between a new or used boat will depend on your budget and your desires. While purchasing a new boat requires a significant deposit, you gain the advantage of owning a custom-chosen boat with brand-new equipment, all covered by warranty.

Second-hand boats, on the other hand, offer a wider and more affordable choice, although their technical condition must be validated by an approved marine surveyor.

 Since 16 June 1998, European manufacturers of pleasure boats between 2.5 m and 24 m in length have been required to issue a ‘CE’ Written Declaration of Conformity for each unit produced. It is given to the first owner of the boat by the builder, and must be passed on with the boat if it is sold on.

This declaration certifies that the boat has been built in accordance with European standards. It includes a description of the unit, the CIN number and the ISO standards used during construction.

A boat may not be sold or registered in Europe without a ‘CE’ Written Declaration of Conformity. So it’s important to know whether the boat you want to buy has a Written Declaration of Conformity, because if it doesn’t, it can be very difficult to obtain a registration in Europe.

• If you do not have the CE Written Declaration of Conformity, but your boat is CE certified, if your boat builder is still in business, you can contact them to request a duplicate.

• If you do not have a ‘CE’ Written Declaration of Conformity and your boat has not been ‘CE’ certified, the boat will have to be inspected by a notified body which, after examination and any adaptations, may issue a declaration of conformity. The cost of this procedure is covered by the boat’s owner.

Special case: the Written Declaration of Conformity is not required to re-register a boat under the same flag.

Since 2003, the CIN number, or boat identification number, has replaced the hull identification number, or HIN number. It is unique and identifies your boat.

It contains the following information :

• The country of manufacture
• The manufacturer’s code
• The specific serial number for the boat
• The month of production (from A, for January, to L, for December)
• The year of manufacture
• The year of the Model (the “Millennium”)

Please note: the year of construction and the year of the model (the ‘Millennium’) may be different. For example, for a 2008 model, construction could start and be completed in 2007. However, the CIN number does not indicate when the boat was first launched.

The choice of equipment when buying your future boat is crucial. It must be adapted to your boat, your sailing program and your expectations.

So before choosing your equipment, it’s important to take stock of your needs, whether in terms of comfort, energy and water autonomy, performance … Not forgetting, of course, the financial aspect that this represents, as any installation entails not only purchase costs but also maintenance costs.

Whether you’re buying a new or second-hand boat, the key word when choosing your equipment is consistency. Your equipment must be adapted to your boat, your programme and your needs, without you being ‘over-equipped’ with items you don’t really need. Don’t forget that as well as representing a financial cost, each piece of equipment represents additional weight on board and a loss of space.

When it comes to your energy resources, it’s important to match your installation to your comfort and navigation equipment, and not the other way round. The ideal solution, of course, is to carry out an energy performance assessment. To do this, don’t hesitate to contact a professional who will be able to advise you on the most appropriate installation.

In all cases, the essential factor on which you should not compromise when choosing your equipment is safety, whether this involves compulsory safety equipment or additional equipment adapted to your programme.

There are various possible solutions for financing the purchase of your future boat, whether new or second-hand. Depending on your personal contribution and the boat you want to buy, you can opt for :

1) Buying in cash: if you can, paying in cash is the first option for buying your boat. However, when you consider it, you need to bear in mind that you will be paying full VAT (in mainland France the rate is 20% on the purchase price of the boat), and that the boat will be included in the calculation of your assets.

2) Conventional credit: it can be a good idea to take out conventional credit or ‘marine credit’ to finance the purchase of your future boat if it cannot be financed under a LOA. In this case, you should be aware that full VAT will be applied to the purchase price of the boat, that you will have to pay the costs associated with the credit (the price of your boat is therefore increased by the cost of the credit) and that the value of the boat on 1 January of each year (minus the outstanding capital, unpaid interest and accrued interest) will be taken into account when calculating your assets.

3) Lease with Purchase Option (LOA): you choose your boat and its equipment, the financing organisation acquires it for you, leases it to you for the duration of the contract and sells it to you at the end for the purchase option fixed at the outset. As you are leasing the boat, it does not count as part of your assets for the duration of the leasing period. The term of this type of finance generally varies between 36 and 180 months, and the initial deposit can be between 20% and 50% of the purchase price.

With a French LOA, you can benefit from reduced VAT of 10% on all your rentals for the duration of the contract if you are sailing in European territorial waters, and 0% VAT if you are sailing internationally. Leasing with a purchase option is therefore a highly advantageous financing solution.

Example of financing a boat under a LOA :

Purchase price: €150,000 incl. VAT

Initial contribution: €75,000 including VAT (50% of the purchase price)

59 monthly payments (financing over 5 years): €1,140.03 incl. VAT (reduced to 10%)

Purchase option: €15 incl. VAT

Total cost: €142,276.77 incl. VAT

The LOA contract is mainly used to finance new boats, but it is also possible to finance a second-hand boat if :

The boat you want to buy is already under a LOA contract: with the agreement of the financing organisation, it is possible to transfer the LOA contract from the seller to the buyer. To achieve this, the residual value of the LOA must be greater than a quarter of the sale price, and the purchaser must be eligible for financing in the same way as a conventional loan. At the time of transfer, it is possible to modify certain aspects of the contract (duration, insurance, etc.).

The boat you want to buy is sold by a professional and is subject to VAT: in this case, the company that owns the boat can sell it inclusive of VAT to the finance company, which will set up a new Lease with Purchase Option contract with you.

The term ‘tax exemption’ refers to a set of legal provisions that enable taxpayers to obtain a reduction in their tax liability, thereby reducing the amount of income tax or wealth tax they pay. These legal provisions have been designed to encourage investment in various areas, particularly in the yachting sector in the French Overseas Territories since 1986.

Since then, a number of laws have been enacted to provide a stricter framework for tax relief. The Girardin industrial law, which until now encouraged taxpayers to make productive investments in overseas France (for example, in the purchase of a boat for direct rental), will be gradually replaced by the tax credit between now and January 2018.

What you need to know :

• The current tax exemption system does not allow you to become the owner of the boat in which you have invested.
• The tax exemption scheme is highly complex, so if you want to benefit from it, it’s essential to turn to wealth management professionals.

Each year a budget is needed to cover the running costs of your boat. This may vary, of course, depending on your model, your programme and your cruising area. It generally corresponds to 10% of the purchase price and includes (excluding basic supplies, fuel, etc.) :

• Storage: Whether you opt for an annual berth, anchorage, dry storage or a combination of these options, you will need to plan for storage costs for your boat. The budget you allocate to it can vary greatly depending on the type of storage, the size of your boat and the area you sail in. That’s why it’s important to study the different possible solutions and choose the one that’s best suited to your needs.

• Insurance : As with property or cars, there are several levels of insurance available for your boat, from Third Party Liability to All Risks. Your insurance premium  will depend not only on the cover you have taken out, but also on the use you make of your boat (private use, long voyages, charter, etc.), your boat itself (size, age, engine(s), etc.) and your cruising area.

• Annual maintenance : Regular maintenance of your boat is essential if you want to preserve it. Moreover, the manufacturer’s recommendations require regular replacement of parts that wear out on the boat and its equipment to ensure that they work properly and maintain the warranty. In particular, it’s important to carry out antifouling, the servicing of your engine(s) and check the safety equipment every year.

• Taxes : In France, you have to pay annual navigation dues (Droits Annuels de Navigation – DAN) when your boat is registered. DAN is calculated on the basis of the age, size and engine of your boat.

To find out more, read the article: What questions should I ask before buying?

Plastic boat hulls, made mainly of polyester and fibreglass, first appeared in the mid-1960s. They were an immediate success with both builders and yachtsmen, and contributed to the development of yachting as we know it today. However, ‘plastic’ hulls have a weakness when it comes to humidity: osmosis.

Definition : Osmosis is a process where solvent molecules (usually water) move through a semipermeable membrane from an area with a lower concentration of solutes to an area with a higher concentration. This movement continues until the concentration of solutes is balanced on both sides of the membrane.

In practical terms, on a boat, this means that seawater (or freshwater if you’re sailing inland) passes through the gelcoat, which is not entirely waterproof, and impregnates the polyester resin. This alters the rigidity of the hull, causing the fabrics to delaminate.

It is important to note that osmosis does not prevent a boat from sailing. However, it is preferable to carry out a treatment to stop this phenomenon before it becomes more serious.

• How do you detect osmosis?  The phenomenon of osmosis is manifested by the appearance of blisters on your hull which, when pierced, release acetic acid (recognisable by its strong vinegar odour).

However, it is also possible to determine whether a hull is affected even before blisters appear by measuring its moisture content. This can be done by an approved marine surveyor.

However, neither measuring the moisture content of the hull nor visually observing the appearance of blisters can give you a precise indication of the stage of development of the osmosis. It’s only after you’ve ‘stripped’ the hull, removing antifouling, primer and gelcoat, that you can really assess the precise condition of your boat.

• How can osmosis be prevented ?

• • Implementing preventive action : Osmosis is linked to the contact of water with the resin of your hull, made possible by the partial permeability of the gelcoat. Preventive anti-osmosis treatment consists of creating a watertight barrier between your hull and the water. Epoxy resin is generally used for this. Please note: except for new boats, it is preferable to measure the humidity level in the hull before carrying out the preventive treatment, as there is a risk of trapping the humidity inside your hull.
  • Wintering your boat in dry conditions : Wintering your boat out of water for several weeks a year allows the hull to evacuate the moisture it has accumulated and can help prevent osmosis..

• How to treat osmosis ?

There are several stages to an anti-osmosis treatment. The most important stage is to ‘bare’ the hull and then dry it (store it for several months in a dry place). This removes the moisture from the hull and stops the osmosis. The damaged areas of the hull must be repaired, before being repainted, incorporating a preventive treatment to ensure osmosis does not recur. It is important to monitor the humidity level of the hull during the process to ensure that your boat dries properly.