Two ways to buy in build
A yacht in build is bought either directly from the shipyard, where the yard sells a hull it has started on its own account, or by taking over the contract of an earlier buyer who has decided not to proceed. In the first case you sign a new build contract with the yard. In the second the existing contract is transferred to you, with the yard's consent, and you step into the earlier buyer's position, including the payments already made and the specification already agreed.
Either way the listing will describe the yacht as in build, with a delivery date that is the yard's current estimate. We confirm the stage of construction, the delivery window and how much of the specification is still open before an offer is made.
What we check first
For a yacht in build on this site, we confirm with the seller's side the stage the build has reached, the payments already made and those still to come, the security in place for them, the delivery date in the contract and the yard's current estimate, and the parts of the specification that remain open. If an existing build contract is being transferred, we ask for a copy of it and of the change orders agreed so far, so that you and your lawyer can see exactly what you would be taking on.
Specification and changes
The specification is the contract's description of the yacht, often running to many pages, with the general arrangement drawings and the makers of the main equipment. It defines what the yard must deliver. The further the build has progressed, the less of the specification remains open: layouts and systems are fixed early, while interior finishes, colours and some equipment can often be chosen later.
Changes after signing are made through written change orders that state their effect on the price and the delivery date. A good build contract sets out how the cost and time of a change are calculated, and a buyer should expect every change, however small, to be documented in the same way.
Stage payments and security
The price of a yacht in build is paid in instalments tied to construction milestones, such as signing, completion of the hull, installation of the engines, launch and delivery. Good contracts link each payment to the completion of a milestone, verified by the buyer's own representative, rather than to its start.
Because the buyer pays before the yacht exists, the contract must protect those payments if the yard fails. The two usual mechanisms are an advance payment bond issued by a bank or insurer, which repays the instalments if the yard defaults, and the progressive transfer of title in the hull, materials and equipment to the buyer as the build proceeds. Not every yard can obtain bank bonds for the full amount, so the form and the strength of the security are matters to settle with your lawyer before signing.
Your representative at the yard
A buyer in build appoints an owner's representative, usually an experienced naval architect, engineer or captain, to follow the construction, check the work against the specification and sign off milestones before payments are released. On larger projects the representative is at the yard throughout. The yacht is also built under the survey of her classification society, if she is to be classed, and of her intended flag.
The sea trials at the end of the build test the yacht against the contract's figures for speed, noise, vibration and fuel consumption. Contracts often allow a small tolerance, with compensation where a figure is missed within a wider band and a right to reject the yacht beyond it.
Delivery, documents and warranty
At delivery the final instalment is paid against the delivery documents: the Protocol of Delivery and Acceptance; the Builder's Certificate, which is the first link in the yacht's chain of title and the document a registry relies on to register a new yacht; the class and statutory certificates; and the commercial invoice. For a recreational yacht between 2.5 and 24 metres placed on the EU market, the builder also provides the CE marking and declaration of conformity required by the Recreational Craft Directive.
The yard's warranty, commonly at least a year for materials and workmanship, starts at delivery. Keep a list of snags from the first weeks, because the warranty covers repair, not the loss of use, and a list made early is a list the yard can work through before the season.
Questions buyers ask
Is buying in build riskier than buying a used yacht?
The risks are different. You depend on the yard completing the yacht to the specification and on time, so the security for your payments and the quality of your representative at the yard matter more than they do on a finished yacht.
Can I change the layout of a yacht already in build?
It depends how far she has progressed. Structure and systems are fixed early; interiors and finishes can often be chosen later. Every change is made by written change order, with its effect on price and time stated.
What is a Builder's Certificate?
A document from the shipyard confirming that it built the yacht and to whom she was delivered. It is the first document in her chain of title, and a registry needs it to register a new yacht.
Who owns the yacht while she is being built?
That depends on the contract. Under some contracts title passes to the buyer progressively as the build proceeds; under others it stays with the yard until delivery and the buyer relies on the payment security. Your lawyer will explain which applies.
This guide is general guidance as at September 2026, not legal or tax advice. Your own adviser confirms the position for your purchase.
