When entering superyacht ownership, one of the first decisions a buyer must make is whether to buy a superyacht that's been or is being built on speculation or commission a new build to order. Each path offers distinct advantages, limitations and implications for cost, timeline and customisation. BOATexplores the key differences, helping you make an informed decision based on your lifestyle, budget and preferences.
What is a speculative yacht build?
A yacht built “on spec” is a superyacht that a shipyard begins building without a confirmed buyer, with the intention of selling it during construction or upon completion. These projects are often based on popular models or platforms and are partially or fully built by the time they reach the market.
Key features of buying on spec:
- Faster delivery time
- Limited customisation (depending on build stage)
- Reduced decision fatigue
- Often built on proven, popular platforms
What is a commissioned new build yacht?
Commissioning a new build yacht means starting from scratch or near-scratch - selecting the platform, layout, design features, technical specs and décor - in close collaboration with a shipyard, naval architect and interior designer.
Key features of commissioning a new build:
- More customisation
- Longer build timelines
- More involvement from the owner
- Result tailored to your vision
Comparing timelines and flexibility
One of the most significant differences between a speculative build and a commissioned project is time. Buyers looking to get on the water sooner are often drawn to speculative yachts, which may be ready within a few months or, in some cases, immediately available. In contrast, commissioning a yacht requires patience, as the design, engineering and construction processes unfold over several years.
However, this extended timeline comes with much creative freedom. While spec projects can sometimes be tailored to a buyer's tastes in the early stages, they rarely offer the same level of control as a bespoke project. If your vision includes innovative technologies, eco-conscious solutions, or a layout specific to your family or lifestyle, a full custom build is usually the only way to achieve that.
Understanding cost implications
Yachts built on speculation often come with a clear and predictable price, particularly if the build is nearly complete. In some cases, shipyards may offer attractive pricing to encourage a quicker sale and free up production capacity. Because many specifications are already fixed, the likelihood of budget creep is reduced.
With new builds, pricing is more complex. The total cost will vary based on the materials chosen, the scope of customisation and the level of technology integrated into the yacht. Commissioned builds can also incur design and engineering fees, especially if the project involves new innovations or complex features.
That said, a custom project allows you to prioritise spending in the areas that matter most - be it the owner’s suite, sustainable engineering systems or a hybrid propulsion setup - giving you more control over long-term value.
Ease of purchase and project involvement
Purchasing a speculative yacht is often described as a more streamlined process. There is less back-and-forth between designers and shipyard teams, and the project typically requires less hands-on involvement. For first-time buyers or those seeking a faster path to ownership, this reduced complexity can be a major advantage.
On the other hand, commissioning a yacht is a more immersive experience. Many owners find the journey itself rewarding, working closely with world-class naval architects, choosing materials and watching the build progress in real time. If you’re someone who enjoys detail, design and creative expression, building from scratch can be deeply fulfilling.
Resale considerations
Resale potential is an important factor for many superyacht buyers. Yachts built on speculation, particularly those based on popular models by trusted shipyards, may be easier to resell due to their broad market appeal and proven performance. A semi-custom yacht with a familiar layout, desirable specifications and good build pedigree can perform well on the brokerage market.
Conversely, highly personalised yachts may require more time to find the right buyer, but this depends on how tastefully the yacht was customised and how well it meets emerging trends in efficiency, sustainability or functionality. The uniqueness of a bespoke yacht can be a strength if the build quality and branding are strong.
Which option is right for you?
There’s no universal answer to the question of whether it’s better to buy on spec or commission a new build. The right choice depends on your priorities, whether that’s time, personalisation, budget control or the desire for a creative experience.
For buyers seeking immediate delivery and a more hands-off process, a speculative yacht is a smart, efficient solution. For those who envision something truly unique, a commission offers a level of artistry and alignment that no off-the-shelf yacht can replicate.
For more expert superyacht tips and essential yachting advice, explore our latest yacht advice guides.