If yachts are built on full speculation, does the builder/yard then choose every colour and material?
It seems to me that a client that buys yacht of around 25m for example would like to choose it’s own materials and colours right?
Yes you are completely right, the builder/yard will choose this before they have a buyer. They will normally choose standard colours and materials that a lot of people will (hopefully) like. This makes it easier to sell the yacht.
In some cases the new owner would like some things differently, in most cases this can be done. Yes, this costs time and money but it is cheaper than holding up the production process while looking for a client.