For most, commissioning a superyacht is a lifestyle decision. But for high-net-worth individuals, family offices, and investment firms focused on alternative assets, it’s also a sophisticated capital strategy. When structured correctly, a yacht construction project offers not only custom control and prestige—but a defined framework for asset appreciation, charter income, and even arbitrage.
At Thalos Capital, we work with buyers and partners who see superyachts not as depreciating luxuries, but as engineered assets with global mobility, resale potential, and operational monetization. Below, we outline the most effective strategies being used today to finance, optimize, and profit from superyacht build projects—backed by real-world deal structures and industry best practices.
Understanding the Payment Structure of a New-Build Superyacht
Every shipyard uses a staged disbursement model tied to key milestones. A typical payment structure for a 50m+ build might look like this:
- 10% at contract signing (LOI to full contract)
- 15–20% at steel cutting or hull laying
- 25% at hull completion / superstructure joining
- 20% at technical installation milestones
- 25–30% at delivery
This staged approach is designed to reduce capital risk while funding project progress. It also creates natural financial checkpoints where investors or owners can make strategic decisions (e.g., resale, restructuring, refinancing).
Commonly Used Financial and Investment Strategies
1. Pre-Fit-Out Resale (Spec Build Exit)
Used frequently by speculative builders or pre-contracted investors, this strategy involves selling the vessel once hull and machinery are complete, but before interior customization.
Real-world example: A 65m yacht under construction at a Northern European yard was sold mid-project for a €12M premium above contracted cost. The seller retained the build slot 18 months earlier and timed the exit prior to interior fit-out—where delays and cost overruns are common.
Why it works:
- Buyers jump the queue (bypassing 2–3 year waitlists)
- Seller avoids scope creep and interior capex
- Margin realized on pre-negotiated contract price
2. Bridge-to-Delivery Financing
Some owners finance a portion of the project with short-term, asset-backed loans that are repaid at resale or charter monetization.
Structure details:
- LTV typically 40–60% based on contract and yard reputation
- Security includes the physical vessel under construction
- Loan term: 18–36 months, with bullet repayment at delivery
Used by: Entrepreneurs who want to preserve liquidity or hedge liquidity events (e.g., business exit proceeds expected later)
3. Charter-Backed Ownership with Exit Option
This model involves taking delivery, operating the yacht in charter for 2–5 years, and exiting with an established brand reputation.
Key elements:
- Yacht is designed from day one with charter in mind
- Revenue offsets operating costs (OPEX)
- Data-driven usage enhances resale value
Real-world example: A Benetti 63m was delivered and operated in the Western Med and Caribbean at €450,000/week. The owner booked 10–12 weeks annually, offsetting ~65% of costs. The vessel was sold 4.5 years later with a premium due to proven income performance and minimal depreciation.
4. Leasing Structures via EU Entities (VAT Optimization)
Sophisticated buyers often set up EU-based leasing companies to own and operate the vessel.
Why:
- Lease model allows VAT to be paid incrementally, not in full at delivery
- Can reduce upfront tax exposure by up to 50–70% depending on jurisdiction and flag
Most effective in: Malta, Cyprus, Isle of Man (subject to change and review with tax counsel)
Advanced Strategies for Larger Builds and Institutional Buyers
5. Syndicated Ownership with Pre-Defined Exit Rights
This model involves 2–4 family offices or investor groups co-funding a 100m+ vessel with pre-agreed exit triggers (e.g., at delivery, after charter ramp-up, or during interior stage). Each party can independently sell or assign interest after key phases.
Use case: An Italian yard hosted such a model with three family offices, where one exited at steel completion and the other two refinanced the project to delivery.
6. Tokenized Asset Participation (Pilot Concepts)
Though not yet mainstream, select deals have explored fractionalized digital securities representing interest in a vessel under construction—usually via SPVs governed in crypto-friendly jurisdictions like Liechtenstein or Luxembourg.
Caution: Requires full securities compliance and regulatory oversight. Not recommended without legal vetting. Still, it signals a broader trend: investors are increasingly seeking innovative, tech-enabled pathways to access and trade high-value luxury assets.
Why Timing, Contracting, and Yard Reputation Matter
Financial outcomes are driven not just by structure—but by the fundamentals of the deal:
- Tier-one shipyards (Feadship, Lürssen, Benetti) attract liquidity and drive long-term value
- Pre-engineered hull platforms reduce design delays
- Naval architect and design pedigree command resale premiums
- Fixed-spec, milestone contracts improve budgeting accuracy
These fundamentals make the difference between a lifestyle asset and a performance-based holding.
At Thalos Capital
We provide access to a portfolio of vetted, build-ready yacht construction projects with the industry’s most respected shipyards, naval architects, and project managers. Each project is designed with financial performance, liquidity, and strategic optionality in mind—whether the goal is personal enjoyment, charter income, or resale upside.
Our role is to connect capital with execution-ready opportunities in ultra-luxury markets—creating luxury that performs.
Learn more at www.thaloscapital.com
Disclaimer
The information provided in this article is for educational and illustrative purposes only and does not constitute financial, investment, legal, or tax advice. Thalos Capital does not offer or promote securities, investment funds, or pooled financial products. Any examples or scenarios mentioned do not guarantee future results. All prospective buyers and investors are encouraged to consult their own licensed advisors before making any decisions. Thalos Capital assumes no liability for any decisions based on the content herein. This content is compliant with applicable guidelines under the SEC, OSC, and FTC frameworks governing non-securities marketing.
