Why Refits Go Over Budget — and How Owners Can Keep Control

Cost overruns in yacht refits rarely come from one big mistake. They come from many small decisions taken without the owner's full view. Here is how to keep control.

Ask any experienced owner and you will hear the same story: the refit took longer and cost more than planned. It does not have to be that way. Overruns follow predictable patterns — and most of them can be controlled.

Where refit budgets really go wrong

• Vague scope. “Service the generators” can mean very different things to the owner, the yard and the subcontractor.

• Hidden conditions. Once systems are opened, new defects appear. That is normal — the problem is having no plan or reserve for them.

• Uncontrolled variations. Small additions agreed on the dock, without price or approval, add up quickly.

• Slow decisions. When the owner is far away and questions wait days for an answer, the yard loses time — and time is money.

• Poor coordination. Several contractors working in the same space without a clear sequence means rework, delays and finger-pointing.

Six habits of well-controlled refits

1. One written scope, one specification. Everyone quotes and works on the same document.

2. A variation procedure from day one. Every change is requested in writing, priced before work starts and approved by the owner or the owner's representative.

3. A live budget tracker. Committed costs, approved variations and remaining contingency, updated weekly — not discovered at the final invoice.

4. Regular reporting. Weekly progress reports with photos, open issues and decisions needed. The owner always knows where the project stands.

5. Quality checks at the right moments. Inspect before things are closed up, painted over or reassembled. Fixing a defect later costs far more.

6. A proper handover. Commissioning, sea trials, a punch list closed item by item, and complete documentation and warranties before the final payment.

The role of an owner's representative

The yard has its project manager. Suppliers have their engineers. The owner needs someone who works only for them: on site, technically qualified, independent of the yard and suppliers.

That person turns the six habits above from good intentions into daily practice.

This is exactly what we do at Mare Artis. We represent the owner — and only the owner — from the first survey to the final handover.

Mare Artis — independent, owner-side yacht consulting and refit supervision in Greece and Türkiye. 

For your inquiries send us an email : infomareartis@gmail.com