Yacht Refit Guide

Refits sit in the capital reserve rather than the operating budget. Operating Costs explains how the two fit together; this guide covers the refit project itself.

A refit is a planned yard period to repair, renew, upgrade or change a yacht beyond routine maintenance. It ranges from a few weeks of technical work to a multi-year rebuild.

Maintenance keeps the yacht in its current condition. A refit changes, renews or upgrades it. Many yard periods combine both, so the scope should state which is which.

A major refit combines several workstreams — technical, exterior, interior — over a long yard period, usually with class and flag closely involved.

A refit becomes a conversion when it changes the yacht's use, structure, capacity or main characteristics. Conversions normally require class re-approval and flag review.

Older yachts can be renewed to stay in service, often through structural, machinery and systems renewal planned with class.

Cost depends on scope, condition, specification, yard, schedule and changes. Lund does not publish euro ranges or cost-per-metre figures because they would mislead.

Two refits on yachts of the same length can share almost nothing in scope. Discovered work, specification level and schedule pressure drive cost more than length does.

Start from defect lists, survey findings, class requirements and the owner's objectives. Separate must-do work from wishes, and record assumptions.

The specification describes the work in enough detail for yards to price it consistently. A vague specification produces quotes that cannot be compared and invites change orders.

Structural, systems and layout changes may need naval architecture, engineering and design input, and plan approval from class before work starts.

Compare yards on relevant experience, facilities, capacity in the planned window, subcontractor control, quality systems, references and communication — not on unverifiable claims or headline price.

Send the same specification to each yard, ask for itemised quotations with stated exclusions and assumptions, and allow time for clarification rounds.

The contract should cover scope, price basis, payment schedule, delivery date, delay provisions, change-order procedure, warranty and dispute resolution. Have it reviewed by a lawyer.

Read exclusions as carefully as the price. Discovered work, class fees, owner-supplied items and services are common gaps.

Equipment bought by the owner can save cost but creates interface risk: who installs it, who commissions it and who warrants the result.

Engines, generators, stabilisers and some systems can take months to deliver. Order early and agree who carries delivery risk.

The critical path is the chain of tasks that sets the delivery date. Understand it, track it, and know which delays move redelivery.

Contingency covers discovered work and reasonable changes. Its size depends on age, condition, scope and how much is unknown, so no fixed percentage is given.

Change orders adjust scope, price or time after signing. Agree a written procedure, approval authority and pricing basis before work starts.

Common causes: incomplete specification, discovered work, late owner changes, long-lead delays, weak change-order control and unclear exclusions.

Class surveys works affecting class; flag may need to approve changes; insurers usually need notice and yard-period cover arranged. Plan all three before the yacht arrives.

An owner's representative — independent or from the management company — controls specification, cost, quality and changes on the owner's behalf. Their authority should be written down.

The captain and chief engineer know the yacht best. Involve them in defect lists, specification, inspections and acceptance.

Agree inspection and test points in advance. Class surveys, independent inspections and the crew's own checks all have a role.

Systems are commissioned at the yard, then proven at sea trial. Redelivery should follow an agreed punch list and acceptance procedure.

Check warranty length, what it covers, how claims are made and whether it transfers to a future buyer.

Keep invoices, class records, test reports, manuals and as-built drawings. They protect future maintenance and resale value.

New and overhauled systems need monitoring. Track defects within the warranty period and report them promptly.

A well-documented refit can support value and saleability; an undocumented or incomplete one can do the opposite. Refit cost is not automatically added to resale value.

Ask for the specification, invoices, class records, as-built drawings and warranty status. A survey should confirm the work was done to the stated standard.

No written specification; one quote with no comparison; vague exclusions; no change-order procedure; no owner's representative; missing class records; warranties that do not transfer.