Buying my first New yacht...

[introverted]

I've never bought a new boat from a dealer before. And I've never bought a boat that costs as much as the 20% deposit that is required to get the ball rolling. Not to mention the additional 20% prior to completion. Every time I've bought a boat, I hand over money and after some paperwork It is in my possession within a couple of days... if not the same day. I've only ever used an escrow (at sellers request) once.

Needless to say, the whole process kind of scares me. Especially since the boat builder I'm looking to buy a boat from (Bavaria) has had recent financial problems. Allegedly, the catamaran division was unaffected by these finances as it was a separate "french" company. But, the way I understand it now, the company that recently purchased Bavaria also now owns Nautitech 100%. And Nautitech would be building my boat.

These of course are questions I'll ask the dealer/broker. But, I was hoping to get some insight so as not to walk in to this discussion completely blind.

What is the best way for me to proceed with the least amount of risk. Escrow? Should I expect that to be normal and not get push back if I suggest it? I plan to pay cash, so no banks would be involved. Would adding a bank to the mix offer me additional protection? Basically, I dont want to be out 20-40% of a new catamaran should Bavaria suddenly go belly up.

Any input is greatly appreciated.

[SofiaB]

Bavaria is back in business without a lay-off or reduction in wages. But I would be worried if going through a dealer. I placed an order with Bavaria USA who went bankrupt just after I received my new boat. Not sure if the manufacturer even got paid by the dealer but he warranty was gone since it was covered by the dealer. If just a few months earlier I would have lost my deposits. 100% agree with escrow for deposits. Would not pay deposits unsecured again as it was a very near miss.

Don’t know if I would buy new again either. Used often comes with many upgrades not purchased originally. Had some startup issues but no problems after 3 seasons and approx 7k miles.

Bavaria builds a great boat. Top knotch third party suppliers. I would go see the build when it is 50-75% complete.

Good luck!