Unfinished Wooden Yacht for Sale — Project Hulls, Takeovers and the Risks Priced In

By Wooden Yacht For Sale Editorial Desk

Asking prices, not valuations: prices on this page are quoted as published by third-party brokers and marketplaces, with source and check month. Every boat is subject to third-party survey, haul-out and document check. Nothing here is legal advice.

An unfinished wooden yacht for sale in October 2026 appeared on Divecenterforsale as a 40 m ulin-and-steel project in Labuan Bajo, with about nine months of work left, offered as a company takeover. The table quotes its asking price. A hull is not a yacht: engines, systems, interior, rig, certification and sea trial still follow.

Project boats tempt people because the asking figure looks small next to the boat's length. The attraction is real, and so are the traps. This guide explains what you may actually be buying, and what remains to be paid for.

What is actually for sale: hull, project or takeover?

Those three words get used loosely, and each one means a different purchase with different risks.

Wooden project boats may also be older boats stripped for a restoration that stopped. The checks there lean more towards rot and fastenings, as our wooden yacht refit guide explains.

What does the October 2026 asking price actually buy?

The price table on this page quotes one example, checked in October 2026. The listing describes a 40 m project in ulin and steel in Labuan Bajo, designed for 16 guests, with about nine months of work said to be left. It is offered for a partial or total takeover of the company.

Read that listing as a description by the seller. We have not seen the boat. "Nine months of work" is a claim, and it cannot be judged without a list of what those months contain. Ask:

• What exactly has been installed, and what is only purchased?
• Who are the shareholders, and what does the company owe?
• What is the state of the yard's account?
• Does "steel" refer to structure, fastenings or a part of the build, and how do the two materials join?

Also compare its length against a finished example. The same table on our wooden yacht price guide shows a nearly equal length listed in a very different state, which is why a price per metre won't help you.

What are the risks in the yard contract, timber drying and title?

Treat this as buying a boat and a construction site at the same time.

Title. A half-built boat may have no Indonesian registration yet, so the usual papers may not exist. Ask for the construction contract, payment records and any seller's documents. Ask an Indonesian lawyer who owns the hull, the stored materials, and the plans at each stage.

Claims. Yards, timber suppliers, subcontractors and storage providers may all have unpaid bills. Ask for written releases, or a mechanism to clear them at closing, and ask your lawyer how such claims are treated locally.

The yard contract. Buying the hull does not necessarily transfer the contract, warranties or design rights. Check whether the yard may suspend work or hold the boat, and whether you may remove her.

Timber. On a hull that has stood open for months, ask about rain, sun, fungal attack and shrinkage. Have the surveyor look at planks, frames, seams and fastenings as closely as on an old boat, and in places that later work may conceal.

What remains after launch: engines, systems, interior, rig and certification?

Group builder sources describe what commonly follows launching: engine and systems, interior fit-out, rigging, electrics, navigation, safety equipment, inspection and sea trial. They also report that hulls are often built in South Sulawesi, then moved to Bali, Surabaya or Jakarta for this stage.

A claim of a few remaining months needs itemised support.

1. List every remaining package, with the supplier and a quote.
2. Check that engine beds and shaft line fit the planned engine.
3. Confirm how she will be measured, registered and certified for her intended use.
4. Budget for moving the hull between sites, including insurance.
5. Allow for a sea trial, and for fixing what it finds.

Compare the total with what a used boat and a new build offer. Our page on new build and used wooden yachts helps you test that.

Should you choose a company takeover or an asset purchase?

A takeover buys everything inside the company, known or not. An asset purchase takes the boat and leaves the company behind. Neither is safer in every case, and the difference matters more than the headline figure.

• Takeover. May bring existing permits and licences, but also debts, tax history, staff and disputes. It calls for full due diligence on the company, with warranties from the sellers.
• Asset purchase. Cleaner on liabilities if title can be proved, but permits may not come with it, and you may have to apply afresh.

If you are a foreign investor, structure matters even more. Emerhub reports a foreign shareholding cap of 49 percent in a domestic shipping company, and a minimum vessel size for those companies of more than GT 175. Confirm with a licensed Indonesian maritime lawyer how this applies to the company and hull in question.

What could we verify about distressed and repossessed sales?

Nothing that we would call reliable. We found no public register, auction channel or media record of repossessed wooden yachts in Indonesia that could guide you. That doesn't mean they never happen. It only means we cannot point to any.

If you are offered one, ask who holds the power of sale, on what document, and whether the previous owner can still challenge it. Treat any pressure to move quickly as a reason to slow down.

How do you sell a project boat through the desk?

Owners with a stalled project can use the listing-request desk. We will ask for specification, photographs, the build contract, what is owed and to whom, and what is stored where. An honest description of what is unfinished reaches serious buyers sooner.

Brokerage contracts handled through the desk sit with PT Komodo Bahari Nusantara, and construction, repair, refit and vessel-sale contracts with PT Komodo Galangan Nusantara. Any fee is stated before any agreement. The desk does not confirm that a boat is sound or that it can be finished for a certain sum.

What do people ask about project hulls?

These are the first questions for anyone looking at a half-built boat. Most end with a lawyer or surveyor for good reason.

Are wooden boat hulls for sale a good way to save money?

Sometimes, but the asking price is rarely the real comparison. Add remaining work, certification, yard debts and risk, then compare the total with a finished boat. An unfinished hull with poor records can end up costing more than one with clean documents.

Who owns an unfinished hull?

It depends on the construction contract, payments and local law. Do not assume that the person offering it holds clear title. Ask for the build contract and payment records, and ask an Indonesian lawyer to confirm who owns the hull, materials and plans.

What is left to do once the hull is launched?

Builder sources list engines and systems, interior fit-out, rigging, electrics, navigation, safety equipment, inspection and sea trial. Measurement and registration also follow. Ask for a written list of what has and has not been done, with photographs.

Is buying the company better than buying the boat?

Neither is automatically better. Buying a company can bring its permits and its contracts, but also its debts, tax position and disputes. Buying the asset alone may be cleaner but may lose the permits. Take legal advice before you choose, and have the company examined properly.

Can you find repossessed or distressed wooden yachts in Indonesia?

We could not verify any public register or regular channel for such sales in Indonesia. If someone offers one, ask who has the legal right to sell, and on what basis, then have a lawyer check. Treat urgency as a reason for more care.

Which sources support this page?

Checked by the desk in October and November 2026. A source being listed does not mean the source agrees with us or has reviewed this page, and limited-verification items deserve a second look before you rely on them.

• Divecenterforsale, listing 1149
• Juara Holding Group builder source, fit-out locations (group site, not neutral market data; no link given)
• Juara Holding Group builder source, post-launch work sequence (group site, not neutral market data; no link given)
• Emerhub, Liveaboard business in Indonesia, March 2026 (commercial consultant; limited verification)

Written and checked by the Wooden Yacht For Sale Editorial Desk.

How do I list or request a project boat?

Buyers: tell us the length range, region, and how much unfinished work you can manage. Owners: read our seller's guide and send specification, photographs, build contract and yard position. Reach the desk on WhatsApp 6281139414563 or at bd@juaraholding.com.