cost of maintaining a super yacht

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Yacht Maintenance Cost. The Real Costs of Owning a Superyacht

23rd oct 2023 by samantha wilson.

The superyacht industry has seen an unprecedented boom. While superyachts were always highly sought after commodities, the idea of escaping the crowds, exploring off-the-beaten-path destinations, and having a private holiday have never been more popular. But superyacht holidays are one of the most extravagant luxuries there is, and left to a small percentage of UHNWIs. In fact, luxury yachts top the list of the 10 most expensive asset purchases ever recorded (see our Superyacht FAQs for the largest and most expensive superyachts in the world) . The cost of superyacht ownership is no small undertaking and, as for all boat owners, the purchase price is just the beginning.

Here we take a look at average superyacht operating costs : (for something a bit smaller, check out our guide to creating a boat buying budget .)

Yacht maintenance cost

As a general rule, superyacht owners can expect to spend roughly 10-12% of the initial purchase price on upkeep and running of their yacht. Of course superyachts come in all shapes and sizes ranging from 24 metres to well over 100 metres, and purchase prices will be reflected in the size, age and finish. The average sale price for a superyacht is around $8 million, however a 24 metre yacht could be around $1 million (or less for used superyachts), $11 million in the 40m-50m category, $24 million in the 50m-70m category and around $80 million for yachts of 70m or more. Some of the largest yachts in the world (those over 100 metres in length) can go for up to as $175 million. So a $50 million yacht is likely to cost around $5 million a year to run and maintain, while the largest yachts could run to over $50 million a year. So what is it that costs all the extra every year?

Yacht f uel costs

One of the biggest outgoings in the running of a superyacht is the cost of diesel . To put this into context, a 70 metre-long superyacht will use around 500 litres of diesel an hour just to run the generators. A moving yacht will be using approximately $2,000 per hour whilst underway at a speed of around 18 knots. A smaller yacht will obviously use much less, so a 45 metre yacht will use around 560 litres per hour whilst underway at a rough cost of around $500/hour. Based on around 500 hours of cruising time per year that is approximately $250,000, plus all the time spent at anchor and any fuel used for tenders. 

Berthing and mooring costs

As with all boats big and small, berthing costs are one of the highest expenditures. Marinas vary hugely in price, with the most sought after incurring the highest price tags. The most exclusive marinas can cost around $3,000 per night and be booked up long in advance. 

In general however, dockage is usually priced by the length of the yacht and per night, although long-term contracts are also possible. Berthing fees will not usually include electricity, water and waste removal, which need to be factored in too. When winter sets in, if the yacht isn’t travelling to warmer climes, some yachts opt for dry dock, especially if they’re looking to get maintenance and repairs done. This involves lifting the yacht out of the water with specially designed cranes. 

Owner-on-board costs

Of course the whole point of having a beautiful superyacht is to use it and enjoy it. Costs when the owner is on board go up as a full crew, food, alcohol, flowers and any other entertainment costs such as parties and events need to be accounted for. With most yachts able to accommodate up to 12 guests, a yacht in full cruising and entertaining mode could include everything from helicopters and land transfers, to  

Super yachts crew salaries

Superyacht crews vary in size from three or four members to in excess of 70 members on the largest yachts. When you consider that their salaries, taxes, recruitment fees, food and travel for holiday time and repatriation need to be taken into account, the superyacht crew costs are some of the highest expenditures. A captain’s salary alone can be in excess of $20,000, with some chief engineers on $10,000 and chefs around $5,000-$8,000. Crew wages can easily be around $100,000 per month for larger yachts, while a crew of 8 on a 45 metre yacht could be in the region of $600,000 per year. Add to that figure management agencies, shore based crew, specialist part-time crew such as helicopter pilots and food to feed them all and it’s easy to see why this figure is one of the highest outgoings.  

Super yacht repairs

Superyachts need constant upkeep and maintenance which could include everything from maintenance of the engines, to the thrusters, sails, swimming pool/hot tub, decks, electronics, safety equipment, hull, interior and much more. Superyacht maintenance costs are on-going, but winter is usually the time for major projects in shipyards, and costs can vary hugely depending on the level of work being done. Lifting the yacht out of the water, wrapping it for a re-paint or having a new interior refit are big undertakings. 

Super yachts taxes and insurances

Superyacht taxes and insurances must be factored into the cost of owning a superyacht, with import tax on new vessels up to 20% (see our article on VAT and Brexit ) and insurance policies around 0.8% and 1.2% of the boat’s purchase price each year. 

Communication Costs

An often under looked outgoing in the running of a superyacht is the communication costs. With the internet a must-have on board for both guests and crew, packages for satellite and broadband communications can start from around of $4,000 to $5,000 per month. 

Super yachts tenders and toys

One of the highlights of a superyacht charter or holiday are the amazing array of water toys. From classic Jet skis and scuba gear to new-fangled jet packs and sea bobs, the choice is incredible but not cheap. Tenders too are a must for allowing guests and crew to get to shore, for exploring and for water sports. Some of the custom built models can cost $1 million alone. Add to all this James Bond-style additions such as helicopters and submersibles and the sky is the limit when it comes to spending on amazing tenders and toys. 

Superyachts are some of the most incredible and prestigious machines on the planet, and owning one is an incomparable experience. Whether you’re in a position to buy a superyacht or looking to buy a boat of a smaller length, then Rightboat.com should be your first port of call. With thousands of boats and superyachts represented by the top brokers in the industry, you will be in safe, private and experienced hands. 

Written By: Samantha Wilson

Samantha Wilson has spent her entire life on and around boats, from tiny sailing dinghies all the way up to superyachts. She writes for many boating and yachting publications, top charter agencies, and some of the largest travel businesses in the industry, combining her knowledge and passion of boating, travel and writing to create topical, useful and engaging content.

More from: Samantha Wilson

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Costs of food provisions will vary dependent upon how eloborate food Preferenaces are

Location will play huge factor in food provisons and thing may have to be folws into remorte locations.

Crew is one of the largest expenses on a superyacht and critical to the owner’s enjoyment of their vessel. As the largest crew agency in the world, we know crew. Our cost calculator contains customized crew lists for yachts ranging from 80ft to 600ft with salary information based on our reference verified salary data.

Our users also have the ability to completely tailor the crew list to the specific needs, schedule and requirements of their vessel. Each yacht is unique and may have specific owner requests in addition to the yacht’s safe manning requirements.

Management of the supplemental crew costs and strategic budgeting can help avoid significant overspend on categories such as food and uniform. This tool contains default values based on our industry expertise and recommended budget for an efficiently and safely run superyacht.

To learn more about each crew position in detail, including salary ranges, please visit our yacht department directory .

Drag the sliders to modify your results. These are not linear scales and we expect most yachts to operate within the 20-80% window. Above 80% and below 20% costs increase or decrease at exaggerated levels and we only see numbers in these levels in very rare circumstances.

This sunburst diagram is interactive. You can click into each block to see the expense break down and mouse over each block for more details.

Our chart of accounts displays seven major categories, 20 sub-categories plus a further 80 detail categories for a total of 107.

Our yacht operating cost calculator is now on it’s third major revision. We start with actual yacht expense data from our yacht management accountants and then generate formulas to extrapolate out the budget for a wide range of yachts. We have been providing accounting services to large yachts for the past 18 years.

Our operating cost calculator is tuned for yachts from 80 to 600 feet. We find operating variables create the largest variances for yachts smaller than 100 feet and larger than 250 feet. We have tested the numbers the most in the range from 100 to 250 feet.

Our budget calculator factors in the fuel burn for a range of engine sizes typically seen installed on yachts by length. By dragging the green “fuel dockage” slider to the right you will increase the projected fuel burn rate and therefore the budget cost for fuel. Our default position would be for a typical displacement fuel burn. Position the slider in the 60-80% range for fuel projections for planning hulls.

Our default values produce a budget number that we believe is generous to run a yacht to a high standard. Perfect is a very expensive word to use in the yachting industry where standards are already high. Moving the crew and maintenance sliders to 80% will provide an “industry best” quality of crew and give them the maintenance budget to operate to a very high standard. If you need to go over the 80% area then you may have unusually labor intensive equipment on the yacht.

Yes, our yacht operating cost calculator can output a budget suitable for this situation. Adjust the owner use to 2 (minimum value), owner slider to 0, crew slider to 10%, Administration to 10%, Fuel and Dockage to 0, Maintenance to 10% and then Capital Repairs to 0. This will remove all of the large charges associated with owner use and vessel movement but leave the essential base maintenance and insurance in place.

Lift on and float in yacht transport is a popular way to transport yachts across large ocean passage. The yachts that this service certainly applies to are ones that may not have the motoring range or structural integrity for blue ocean cruising. The cost of transporting a yacht twice per year is put into our budget once the “Fuel Dockage” slider hits 75%. If your yacht has the range we recommend self-sufficient ocean passages whenever possible. Whilst the transport companies sell their services based upon reportedly well oiled operated schedules the reality is that your yacht may stay waiting for pickup for a week or more with no compensation due. When factoring in all secondary factors of self-sufficient passages (increased fuel, maintenance, potential storm damage, crew time off, extra delivery crew) compared with transporting your yacht (insurance, potential loading / unloading damage, loss of schedule control, no work whilst underway, crew flights, crew accommodation) we believe that there is a 100% premium associated with float in transport and a 75% premium with lift on transport compared with self-powered.

Abandoned yachts crash in value. We recommend that even if you are trying to sell your yacht that you use the yacht for a minimum of two weeks per year so that systems are tested and working every six months. There is nothing worse for a yacht than not being used. If you truly are not going to use the yacht then you should sell it immediately for the first genuine offer as every dollar you put into maintenance will not be recovered at the time of the sale.

We did not build this version with sailing yachts in mind. Early in our development of this version we decided to exclude sailing yachts as a few of the major cost drivers scale very differently for sailing yachts compared with motor yachts. For example: To calculate paint costs we reviewed the surface area of over 100 large yachts and created a formula for painted surface area to length. Sailing yachts just don’t scale in a consistent way. Similarly crew numbers don’t scale in the same manner that they do for motor yachts. If there is sufficient demand we may build a sailing selector switch into a future version of this tool.

We hate to hear when yacht owners were told by their broker to factor in 10% of the purchase price to operate the yacht. This over used saying is sadly right occasionally (particularly for newer yachts in the $20-30M range)… but just because a broken watch tells the right time twice a day you shouldn’t rely upon it to tell the time. As yachts get older their capital value decreases but their maintenance costs increase. There is no way that a fixed 10% of purchase cost rule can be true… if your broker told you this rule then you need a new yacht broker… we know some good ones. 😊

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The Real Costs of Owning a Superyacht [Complete Guide]

November 25, 2019 1:00 pm

Owning a  superyacht  is a status symbol available only to the world’s wealthiest individuals and corporations. Although there is no strict definition, the Red Ensign Group Yacht Code is applicable to “motor or sailing vessels of 24 meters in load line length and over…and which, at the time, is in commercial use for sport or pleasure and carries no cargo and no more than 12 passengers 1 .” There are currently just over 10,000 superyachts in the world with around 200-250 new builds delivered each year. The vast majority are  motor yachts , with sailing yachts counting for less than 20% of the total. The world’s largest private vessel, Khalifa bin Zayed Al Nahyan’s 180m (590-foot) AZZAM,  cost $600 million to build when it was delivered in 2013. Eight of the ten most expensive luxury acquisitions of all time were superyachts.

Purchase Cost

Buying a new or used superyacht will most likely cost the buyer several million dollars. Pricing varies widely based on the yacht size, age, and other factors such as builder, guest capacity, speed, range, and more. The market is worldwide and extensive. Any potential buyer would be well-advised to engage a professional, certified broker to guide them in the selection of their dream yacht and through the myriad of complications in making the purchase.

• • Financing the Purchase
• • Immediate Post Purchase Costs

Operating Costs

In years past, owners and their brokers would work on 10% of the purchase price as an estimate of annual operating costs, but the vast range of yacht size, operating location, and usage profile makes this approach less useful without giving the question more thought. Building a budget for a yacht requires consideration of the following elements:

Crew – Salary, payroll taxes, recruitment fees, uniform, health insurance, food, and travel for vacation and repatriation are all crew-related costs. A good guide for salary costs is published by Dockwalk magazine every year based on an extensive survey of the crew and placement agents. Using their most recent article as a guide, a crew of eight full-time crew on a 150-foot yacht will cost over $650,000 per year in salary alone. Get a complete crew cost breakdown.

Dockage – Unless the owner plans to spend the year at anchor, then keeping the yacht in a marina incurs a significant cost. Dockage is normally sold per foot of the yacht’s full length and per night, although contract rates for longer periods may be available. High-quality marinas in peak seasons are currently running in the $6-8 per foot per night range. Electricity, fresh water, and waste removal are all additional costs to be considered.

Fuel – The captain or engineer should be able to provide the fuel consumption per hour at any given speed, so if a yacht owner knows roughly how much he wants the boat to travel, then he can estimate the total fuel consumption and budget the fuel cost. There is also the fuel cost for generators, particularly at anchor. A typical 150-foot motor yacht cruising at 12 knots will consume in the region of 150 U.S. gallons per hour. At today’s fuel prices, that’s going to be close to $500 per hour. 500 hours per year will give us the main engine fuel budget of around $250,000. To this, we must also add the generators’ fuel consumption at anchor plus any additional cost for tenders.

Communications – Everyone onboard, crew and guests, want to remain connected to their social media, streaming services, and email. The technology available in this area moves fast and with 5G coming online, near-shore costs will likely come down. For those who want broadband speed while offshore, costs are high and depend on the upload/download speeds required. Start with an estimate of $4-5,000 per month and work from there. Additional communications costs include satellite TV subscriptions, crew cell phone costs, mail, freight, and more. Get a complete communication cost breakdown.

Maintenance, Consumables, and Other Operating Costs – Having considered crew payroll, marina costs, fuel, and internet, the budget will start to materialize. One must take all other costs into account, such as hull insurance, liability insurance, maintenance and consumables, warehousing, safety and survey costs, upkeep of the navigation outfit, computing support, car rental, and more.   

Looking for more details?

Receive the complete Cost of Yacht Ownership Guide including:

• • Offsetting Expenses With Charter
• • Superyacht Financing
• • Budget Development + More

This should not be considered a financial guide. For a more accurate estimate, contact Clive McCartney .

1 Red Ensign Group Yacht Code Section A 1.2(1) 

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How Much Does it (Really) Cost to Own a Yacht?

The true cost to own a yacht is an area of concern for many prospects of yacht ownership. And it should be.

Maintenance costs, exploitation costs, total cost compared to yacht charter, we detail in this article the expenses (especially the hidden ones) you have to consider before buying your first yacht !

We also provide you several solutions to lighten your investment and reduce the cost to own your yacht. 

If you are looking for the price of a yacht charter (rental), please read this article instead .

How much is a yacht?

Before diving into the expenses that comes monthly, yearly or every decades once you own a yacht, let’s answer the elephant in the room: How much is a yacht (alone) in the first place? The short answer is… it depends, of course. But in most cases, the longer the yacht, the higher is her selling price.

Generally speaking, you can expect to find yachts for sale in the following price ranges:

• Below 50ft (15m): between 500K – 2,500,000 € / USD
• Between 50-70ft (15-21m): between 2 millions and 6 millions € / USD ( See our 9 catamarans for sale under 6 millions here )
• Between 70-100ft (20-30m): between 6 millions and 20 millions € / USD
• Superyachts over 100ft (30m): minimum 10 millions € / USD

You can always find exceptions to the rule and find cheaper or more expensive yachts for sale outside of these price brackets.

A lot of factors come into the selling price of a yacht: supply and demand, brand / model reputation, age and condition of the vessel, urgency or lack of for the sale and so on.

What are the main hidden costs that come with yacht ownership?

You probably already guessed it, the cost of owning a yacht doesn’t stop at its purchase price . In some cases, the price you bought your yacht at can seem like a bargain, but it really isn’t once you start adding all the hidden costs, and many of them come yearly.

Here are the main ones you should be wary of.

Yacht exploitation and running costs : always calculate them carefully before buying your yacht

It always cost you money to exploit your yacht.

When you are chartering a yacht, a part of these operation costs is included in your APA (Advanced Provisionning Allowance) .

When you own a yacht, these costs still apply , but you will have to pay directly for them.

Among the main operation costs, the most important are usually the following:

• The fuel: its cost will depend on the type of boat, her fuel consumption, the region, and the distances traveled;
• The mooring fees which depends on the area but also on the boat size;
• The crew, if you need it. The cost will depend on the frequency and the crew’s size;
• The communication fees;
• The food and beverages supplies;
• All the expenses related to your leisure activities.

Yachts maintenance: a cost that you should definitely not overlook

Even outside of its operating period, it still costs you money to own your yacht!

Maintenance of your boat isn’t an option and must be done on an ongoing basis. The price vary depending on the type of yacht you are owning (motor, sail, etc…), the size of the vessel, but also how old she is.

The maintenance costs include :

• The regular maintenance of certain equipment, like engines, thrusters, sails, rigging, safety equipment, hull(s) (fairing)…;
• The occasional maintenance operations in case of breakdown or damage;
• The painting;
• The cleaning and the specialized maintenance products (for teak, leather, …). 

The costs of maintenance and upkeep will obviously not be the same if you do it yourself or if you call in specialists. But regardless, you should have a budget buffer dedicated to maintenance costs when you plan on buying a yacht, especially if she already had a long sailing life.

The taxes and insurance premiums of a yacht: a cost that most forget

Consider the different taxes (at the purchase and annual) and the yearly yacht insurance that you have to pay. A specialized insurance policy is generally estimated at between 0.8% and 1.2% of the boat’s purchase price per year.

Must Read : Yacht Insurance : The Definitive Owner’s Guide

Yearly harbor fees : a very important hidden cost of yacht ownership

The port and/or winterization fees are also a big part of yacht ownership costs that you should carefuly estimate.

Depending on your region, you may need to consider “dry-docking” your boat, which involves handling, transport, and storage which can be really expensive. 

If you can leave your yacht in the water all year round, you will need to go for a harbor ring concession.

Depending on the marina and its infrastructure, the region, and your boat’s size, the costs may considerably vary from a few hundred dollars to thousands of dollars a month . However, it is easy to obtain this information from marinas once you have chosen which yacht to purchase.

The depreciation’s price of a yacht

A yacht, like a car, will depreciate . It is difficult to estimate the depreciation, as it depends on economic conditions, exchange rates, price inflation when new, the type of boat, and the shipyard. 

However, it is reasonable to estimate a minimum depreciation of 10% in the first year, then 7% in the following years. From the fifth year on, the depreciation tends to slow down. On the other hand, the operating costs increase.

Summary of the main operating and maintenance costs of owning a yacht

So, to sum up, how much does it cost to own a yacht? It largely depends on your type of yacht and your location.

But in general, owning a yacht will cost you between 10-25% of its value annualy . The longer the yacht, the likelier you are to be at the end of the spectrum.

Here are the reasonable costs you could consider:

• 10% of its value annually for a 60ft (18m) / 1 million USD yacht and below (=max 100K / year)
• 20% of its value annually for a 100ft (30m) / 10 millions USD yacht and above (=min 2 millions / year)

These brackets of total costs include everything: usual yacht maintenance, upkeep and operating costs that will be distribued as follow:

• Communication
• Maintenance
• Insurance premiums
• Harbour fees
• Cost of depreciation

Are you worried? Do not. Luckily, there are numerous ways to decrease the overall cost of yacht ownership and still enjoy yachting as it should be. Read the next paragraphs to know these valuable tricks.

If you liked this article you will also like : HOW MUCH DOES IT COST TO CHARTER A YACHT?

How to reduce the cost of yacht ownership?

A yacht keeps on costing money even when not in use, so the best way to make it a more profitable investment is to increase its exploitation.

Renting your own yacht : a good way to reduce the costs of owning a boat

When you are not using the boat, you can earn income by renting it out. The rental price depends on the type and size of the boat, but also its location. While making money from renting is possible, don’t expect to pay back all your expenses. Nevertheless, it will help you in avoiding your yacht becoming a financial burden. 

The easiest way to do this is to hire a professional charter company to help you. If you go for a reputable and experienced company, you will benefit from their expertise and contacts. It will also save you from legal, insurance, and withdrawal issues and avoid red tape.

On the topic : Yacht to Charter : Can It Be Profitable?

Fractional yacht ownership: share the cost of owning a yacht with co-owners

Another solution to own a yacht at lower cost is fractional ownership of a boat , which means that you own a fraction of it. It can be half, a quarter, or even less. For a long time, boaters have been opting for this option of partial ownership with friends or family. These days some companies create formalized fractional ownership arrangements for more guarantees. 

For example, in partnership with the Windward Islands, SAILING RESORT proposes fractional boat ownership on the fabulous trimaran, the LEEN 72’. So you can become a co-owner of the new hybrid-powered multihull which can accommodate up to 10 passengers and 4 crew members. You will enjoy private use of the trimaran (depending on the period) from 6 to 12 weeks during the first 5 years.

This program proposes a profitable commercial operation with 24/7 premium service. It is a tailor-made solution for all those who want to feel like owners of a prestigious yacht for a few days a year while limiting their investment and responsibilities. WI manages the operation of the yacht for you out of your personal use, like the charter’s organization, maintenance, insurance, annual mooring, and all other administrative tasks.

Once you have weighed the pros and cons and have the means to finance both the purchase and the annual costs (maintenance, operation, …) of your yacht, you should go for it! Indeed, if you can evaluate the hidden costs and expenses of owning a boat, the freedom and unforgettable memories are priceless. 

Yacht Charter remains a cheaper alternative than yacht ownership in many cases

If you can’t enjoy your yacht frequently or are still unsure about whether it’s worth the cost or not to own a yacht, you might consider chartering instead. This will allow you to try out different models , from various shipyards, and see which ones you prefer.

Therefore, the cost of renting a yacht will save you from having to worry about all those hidden costs of owning one. All you have to do is pay for your charter, your cancellation insurance and set your APA during your stay. This way, you only pay money, time, and effort when you use the boat.

What is the (true) cost of chartering the yacht you've seen? 💰⛵

The advertised prices of all charter companies do not include APA, VAT & other variable costs. 

Use our calculator to get a 100% FREE estimate of the REAL total cost of your next yacht charter! ⬇

Read also : SUSTAINABLE YACHTING: HOW IS THE BOAT INDUSTRY BECOMING MORE ECO-FRIENDLY?

Frequently asked question

For a 60-foot or million-dollar yacht, the cost per year will be about 10% of its value or $100,000 per year.

You should expect to pay about 20% or more of the original price of your boat to run it annually. So, for a $10 million yacht, the cost to operate will be about $2 million per year, including fuel, insurance, dock fees, maintenance and repairs, crew, etc.

A 180-foot superyacht and/or mega yacht costs a minimum of $4.75 million per year to operate and maintain. Kitty McGowan of the US Superyacht Association estimates an annual budget of $1 million for maintenance and repairs, $350,000 for dockage, $240,000 for insurance, $400,000 for fuel, and $1.4 million for the crew. Add another 15-25% of the vessel’s value for V.A.T.

Once you have weighed the pro and cons, if you can afford the purchase and all the hidden annual expenses, have found your dreamed yacht, and have time to enjoy it, you should go for yacht ownership!

It is not the best way to make money, but you can minimize your annual expenses by renting it or opting for fractional boat ownership.

It’s hard to tell. As long as you have the money and enough time to enjoy it, it is worth owning a yacht! Everything cannot be estimated. For example, it will bring you invaluable freedom and happiness.

One of the easiest way to reduce the maintenance cost of a yacht is to fractional yacht ownership. That way, the maintenance expenses are spread among co-owners according to their shares.

It varies greatly depending on the size of the yacht. For a yacht of 60ft (18m), you will likely spend around 10% of its purchase value each year in maintenance and exploitation costs.

Luxury yachts have maintenance and operation costs that are around 10% of their value yearly. So if a yacht value is 2 millions USD, its maintenance and operations costs should be around 200K / year.

Operating a sailboat is usually 20-40% cheaper than the same size motoryacht. Motoryachts tend to be more expensive to operate than sailboats as the fuel consumption can become an important expenditure fast.

A small yacht below 50ft is usually for sale between 500K and 2,5 millions USD / €. A mid-size yacht between 50ft and 100ft is usually for sale between 2-15 millions USD / €. Above 100ft, the selling price is rarely below 10 millions USD / €.

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Understanding the Maintenance Costs of Yacht Ownership

When it comes to owning a luxury yacht, the initial purchase price is only the tip of the iceberg. While yachting can offer the epitome of freedom and sophistication, it’s crucial to understand the annual expenses involved in maintaining such a vessel. Here, we delve into the world of yacht maintenance costs to give you a comprehensive view of what to expect when you take the plunge into yacht ownership. Paul Denton at Denison Yachting is an invaluable resource for a more detailed breakdown tailored to specific vessel sizes.

Fixed Costs Vs. Variable Costs

Fixed Costs

• Mooring Fees : Depending on your location and the size of your yacht, annual mooring fees can vary widely. Premium locations like Monaco or Miami can cost significantly more than smaller marinas.
• Insurance : Like any other valuable asset, yachts require insurance, which could be a substantial annual expense depending on the size and value of the vessel.
• Crew Salaries : If your yacht is large enough to require a professional crew, you must account for their salaries, which can be a significant fixed cost.

Variable Costs

• Fuel : The fuel cost can be considerable, especially for longer voyages. Fuel efficiency varies greatly between yachts and depends on cruising speed, among other factors.
• Maintenance and Repairs : Regular maintenance is crucial to maintain your yacht. This includes annual haul-outs, engine service, and ongoing repairs.
• Provisions and Supplies : This covers everything from food and drinks to toiletries, cleaning supplies, and replacement parts.
• Upgrades and Refits : From time to time, you may wish to invest in upgrades, such as new navigation systems or interiors.

Breakdown by Yacht Size

• Small Yachts (Under 40 feet) : Maintenance costs for smaller yachts can run between $1,000 to $5,000 per year, not including fuel.
• Medium Yachts (40-70 feet) : Annual maintenance costs can run between $5,000 to $20,000 for yachts in this range.
• Large Yachts (Over 70 feet) : These can cost upwards of $30,000 annually, without accounting for crew salaries or fuel.

Paul Denton at Denison Yachting can provide detailed information for a more precise and customized cost breakdown based on your specific yacht model and size.

Tax Implications and Financing Options

Aside from the direct costs, it would help if you also considered the tax implications of yacht ownership. Financing options, such as leasing, are available, which can alleviate some financial burdens.

Cost-Saving Tips

• Preventative Maintenance : A well-maintained yacht is less likely to require expensive emergency repairs.
• Tax Benefits : Some countries offer tax incentives for yacht owners who charter their vessels for several days each year.
• Joint Ownership : Another option to offset costs is to consider yacht co-ownership.

Final Thoughts

Owning a yacht can be an enriching experience, offering unparalleled freedom to explore the world’s most beautiful coastlines and seascapes. However, it is essential to be well-prepared for the ongoing costs of this luxury. For a tailored cost breakdown and other professional insights, you can reach out to Paul Denton at Denison Yachting, who specializes in helping prospective yacht owners navigate the complexities of this thrilling yet demanding venture.

Paul Denton ~ Denison Yachting [email protected] 386-295-4668

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DISCLAIMER: We strive to ensure all pricing and information contained in this website is accurate. Despite our efforts, occasionally errors resulting from typos, inaccurate detail information or technical mistakes may occur. We are not responsible for any such errors and reserve the right to correct them at any time.

Paul Denton – Broker with Denison Yacht Sales

The Costs of Owning a Superyacht

One of the most common question I get asked about my time working aboard superyacht is “What are the costs associated with owning a superyacht?”  Since no two superyachts are the same and since no two superyacht owners request the same from their yacht and crew, the answer is often hard to give out.

If the superyacht is moved every day from one destination to the next, your annual fuel bill might brake the million dollar mark, but if you plan on keeping it docked in front of your villa to be taken out on weekends only, then fuel costs might not be an issue.

Since the question seems to be asked a lot by those who are simply curious or those who are seriously thinking about splurging on a shinny new white boat, the people at Luxury Yacht Group, an agency that provides  creative solutions for yacht management, crew placement, sales and charter, have put together the  Luxury Yacht Operating Cost Calculator . 

Using this great tool, I decided to calculate the average costs of a 150′ superyacht with 9 crew members and a 12 week charter season. Here are the results:

Obviously, the costs of owning a superyacht vary widely on the choices you make, but one think is sure, you can significantly offset the costs by chartering it out for a minimum of 12 weeks a year. One way to stand out from the fleet of superyacht available for charter is to brand your superyacht – build a website, publish a great blog and be social. Need an example, check our MY Starfire ‘s digital success.

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The cost of owning a superyacht in 2024

Written by Chloe - Thursday, April 06, 2023

Superyacht sales  surged  during the COVID-19 pandemic, and there’s no sign of this slowing down as the demand for superyachts is  set to increase  over the next 10 years.   

There are currently  15,000 yachts  worldwide that are large enough to require a professional crew. A clear insight into how much the luxury yacht industry is thriving, despite their eye-watering price.

Given the exclusivity of the superyacht market, there’s limited information available on exactly how much they cost to own. So, we’ve dug into the details for you. Here you’ll find how much it costs to buy and maintain a superyacht in 2024. 

Building a superyacht is no mean feat. Stuart Bray, Director of personal yacht brokerage firm  Bray Marine International  talked us through the build process, which is as follows:

• The exterior and interior designers are selected
• A shipyard is chosen ahead of the build
• The hull is always constructed first, followed by the fitting of the engines, running gear, water treatment, A/C, and pumps
• The superstructure is built and attached to the hull
• The interior fit-out takes place
• The exterior is painted
• Sea trails are carried out
• The yacht is handed over for warranty work

It sounds simple enough, but building a custom superyacht costs an eye-watering £1.5m per m² on average and takes up to  three to four years .

Many prospective owners choose to purchase a second-hand superyacht, which costs £20m ($24m) on average, according to Rightboat , but the cost increases dramatically if any customisation takes place.

Fitting out a new or used vessel costs around £35m, but this can vary massively depending on size.

The overall operating cost of running a superyacht is 20% or more of its original price. So, a vessel costing £1bn will set you back £200m per year after paying for fuel, dockage, crew, maintenance, insurance, etc.

Just under a decade ago, the operating cost was around 10% of a vessel’s original price, demonstrating a huge increase in running costs due to soaring inflation. 

Fuel is one of the biggest superyacht costs starting at £2,000 per hour and over £24,000 per overnight cruise. A 70-metre vessel is estimated to use around 500 litres of fuel per hour.

Annual fuel costs were estimated at around £327,000 ($400,000) back in 2012 but are now estimated to hit £419,000, representing a 25% increase overall.

Bray of  Bray Marine International  says a 60m yacht will have a 16-person crew, setting the owner back around £1.2m per year based on industry-standard pay rates. Owners of superyachts of 100m and beyond will pay significantly more to staff their vessels.

Bray also states the annual operating costs of a superyacht are as follows—12% for the first four years, 15% for the next three years, and 20% annually from then onwards. 

They must come out of the water every five years for routine maintenance such as painting, underwater work, gear checks, and antifouling. 

This equates to 10-12% of the vessel’s original price, so a superyacht that costs £1bn would require around £1m of maintenance work per year. 

Insurance costs are difficult to pinpoint as many factors determine this, such as value, cruising area and usage, but a superyacht costing £1bn could cost £8m or more to insure. 

Alison Melia, a marine insurance specialist at  Insure4Boats , says that fire, theft, loss of tender, onboard injury, and collisions are the most common claims received from yacht owners. 

Not all superyachts are created equal. While a 60m vessel is enough to impress most people, they are easily surpassed by those purchased by some of the world’s wealthiest individuals.

The longest superyacht on our list is a whopping 183m and comes with a price tag of £300m, just to put their sheer size and annual running costs into perspective.

Superyacht costs go far beyond the initial build or purchase price, especially when used as a base for luxury holidays or experiences such as the Cannes Film Festival.

A two-week holiday in Marbella could cost you £60,046 in dockage alone, without considering the cost of fuel or refreshments. It’s easy to see how superyacht owners can rack up almost £300,000 in dockage fees per year on average.

Building & purchase costs: https://braymarineinternational.com/

https://www.rightboat.com/blog/the-real-costs-of-owning-a-superyacht

https://www.burgessyachts.com/en/editorial/how-long-to-design-a-yacht

VAT: https://www.superyachtnews.com/owner/considering-a-superyacht-think-about-vat

Operating cost: https://www.worldwideluxuryyacht.com/blog/real-cost-to-own-a-yacht/

https://www.workonasuperyacht.co.uk/yacht-blog/2015/1/3/what-does-it-cost-to-run-a-super-yacht

https://www.superyachtcontent.com/superyacht-crew-lifestyle/yachts-and-fuel-how-much-do-they-really-consume/

http://www.denisonyachtsales.com/2012/06/the-various-costs-of-owning-a-boat-or-yacht/#sthash.SMvlyv8a.dpuf

Dockage: https://www.investopedia.com/articles/investing/082015/can-i-afford-super-yacht.asp

Crew: https://braymarineinternational.com/

Insurance: https://www.worldwideluxuryyacht.com/blog/real-cost-to-own-a-yacht/

Maintenance: https://www.rightboat.com/blog/the-real-costs-of-owning-a-superyacht

Marinas: https://www.marineinsight.com/boating-yachting/yacht-marinas-in-the-world/

https://www.seesainttropez.com/marinas/

https://www.sail-world.com/Australia/Ranking-The-worlds-15-most-expensive-marinas/-83130?source=google

https://barcheamotore.com/quali-sono-i-porti-piu-cari-del-mediterraneo-lo-svela-unindagine/this/?lang=en#:~:text=With%20a%20berthing%20fee%20of,expensive%20marina%20in%20the%20Mediterranean .

https://www.portofinoyachtmarina.com/en/rates/

https://www.charterworld.com/news/top-10-expensive-marinas

https://www.yachting-pages.com/articles/top-15-elite-superyacht-marinas-worldwide.html

Cannes Film Festival: https://www.cornucopia-events.co.uk/cannesfilmfestival/

https://www.insider.com/inside-expensive-hotel-le-majestic-cannes-film-festival-photos-2021-7

https://www.theguardian.com/news/2022/apr/22/secrecy-sex-and-sun-captain-reveals-life-aboard-superyachts

Please note the information provided on this page should not be taken as advice and has been written as a matter of opinion. For more on insurance cover and policy wording, see our homepage.

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How Much Does a Superyacht Cost? (The Surprising Truth)

Who hasn’t dreamed of owning a superyacht? After all, these vessels are the ultimate symbols of luxury and success, often seen in the hands of the world’s wealthiest individuals.

But what exactly does a superyacht cost? In this article, we’ll uncover the surprising truth behind the prices of these magnificent vessels.

We’ll look at the cost of smaller and larger superyachts, the factors that can affect the prices, the most expensive superyacht ever built, and how to get the most for your money.

So, if you’ve ever wondered how much a superyacht costs, read on!

Table of Contents

Short Answer

The cost of a superyacht can vary greatly depending on the size, amenities, and features the yacht includes.

Generally, a superyacht can cost anywhere from a few million dollars to over $100 million.

The cost of the yacht can also depend on the type of materials used and the level of customization.

For example, a superyacht with a helipad, multiple decks, and luxurious furnishings can cost significantly more than a basic superyacht.

What Is a Superyacht?

A superyacht is a luxurious, multi-story, multi-million dollar vessel, typically used for leisure and pleasure-seeking.

They are often custom-made to meet a buyer’s exact specifications, and can feature a variety of amenities, from helipads to private spas and cinemas.

They are usually powered by multiple diesel engines, and can have a top speed of over 20 knots.

Superyachts are owned by some of the world’s wealthiest individuals, and are often used for luxury cruises, parties, or even business meetings.

The cost of a superyacht can vary greatly depending on its size, amenities, and other features.

Smaller superyachts can range in price from a few million dollars up to tens of millions.

Larger vessels, meanwhile, can cost hundreds of millions of dollars.

The most expensive superyacht ever built, the History Supreme, sold for a staggering $4.5 billion.

Ultimately, the cost of a superyacht is determined by its buyer’s individual preferences and budget.

Smaller Superyacht Prices

When it comes to the cost of a superyacht, it is important to consider the size of the vessel.

Smaller superyachts, such as those measuring up to 50 meters, can range in price from a few million dollars to tens of millions of dollars.

These vessels are usually built with luxury in mind, featuring features like multiple decks, salons, bedrooms, bathrooms, and other amenities.

Many also come equipped with a variety of recreational features such as swimming pools, spas, and sports facilities.

Because of their smaller size, these superyachts are typically less expensive to maintain and operate than larger vessels.

They are also easier to transport and maneuver.

However, they don’t offer the same level of luxury and amenities as larger superyachts.

The cost of a smaller superyacht will also depend on its age, condition, and the features it includes.

For instance, newer models may come with more modern features and amenities, such as satellite TV and Wi-Fi, which can add to the overall cost.

Similarly, superyachts with higher-end materials, such as marble or teak, will also cost more.

In addition to the purchase price, buyers should also consider the cost of maintenance, repairs, and upgrades.

Smaller superyachts may require more frequent maintenance, as well as additional costs for fuel and staffing.

For those looking to purchase a smaller superyacht, it is important to factor in these additional costs when deciding on a budget.

Larger Superyacht Prices

When it comes to superyachts, size really does matter.

While smaller superyachts can range in price from a few million dollars up to tens of millions, larger vessels can cost hundreds of millions of dollars and even more.

In fact, the most expensive superyacht ever built, the History Supreme, sold for an astonishing $4.5 billion!

The cost of a larger superyacht is determined by the size of the vessel, the number of amenities and features it offers, and the quality of the materials used in its construction.

The more luxurious the vessel, the higher the price tag.

For example, a well-appointed, 320-foot superyacht with all the bells and whistles can easily cost in the hundreds of millions of dollars.

In addition to the cost of the vessel itself, there are also ongoing operational costs associated with owning a superyacht.

These can add up quickly and include fuel, maintenance, crew salaries, insurance, dockage, and more.

However, these costs can vary greatly depending on the size and type of vessel, as well as the number of amenities and features it offers.

When it comes to superyachts, the sky truly is the limit.

Whether youre looking for a smaller vessel or a multi-million dollar mega-yacht, the cost will ultimately be determined by your individual preferences and budget.

Factors That Affect Superyacht Prices

When it comes to the cost of a superyacht, there are several factors that can affect the final price.

The size of the vessel is one of the primary considerations, as larger yachts typically cost more than smaller ones.

The amenities and features of the yacht can also influence the final cost.

For instance, a yacht with extensive customizations (such as a Jacuzzi or helipad) or high-end materials (such as carbon fiber or mahogany) may cost more than a standard yacht.

Additionally, the cost of maintenance and upkeep should be taken into account, as these can quickly add up over time.

Finally, the buyer’s individual preferences and budget will play a significant role in determining the total cost of the superyacht.

The Most Expensive Superyacht Ever Built

The most expensive superyacht ever built is the History Supreme, a 100-foot-long vessel that sold for a staggering $4.5 billion.

The luxurious yacht was commissioned by Robert Kuok, a Malaysian tycoon, and it took three years to build.

The exterior of the superyacht is made from solid gold and platinum, while the interior is adorned with a wide range of luxury features, including a statue made from genuine Tyrannosaurus Rex bones.

The luxurious amenities also include a master suite with a Jacuzzi, a wine cellar, and a helipad.

The History Supreme is a truly remarkable vessel and it is the epitome of opulence and excess.

It is an excellent example of how much a superyacht can cost when a buyer has a virtually unlimited budget.

Superyacht Amenities and Features

The cost of a superyacht is determined by the size, amenities, and features the buyer chooses.

Superyachts come with a variety of amenities and features that can add to the cost, such as luxurious interiors, multiple decks, state-of-the-art technology, and more.

Luxury interiors may include marble floors, custom-made furniture, and high-end appliances.

The number of decks can range from two to seven, with each deck offering different activities and amenities.

Superyachts can also come equipped with spas, fitness centers, hot tubs, swimming pools, movie theaters, and private areas for entertaining.

State-of-the-art technology can include advanced navigation systems, satellite communications, and high-end audio and visual systems.

The features and amenities of a superyacht will add to the overall cost and can range from a few million dollars to hundreds of millions of dollars.

How to Get the Most for Your Money

If youre looking to purchase a superyacht, youll want to make sure you get the most bang for your buck.

While the cost of a superyacht can vary greatly, there are certain factors that can help you get the most for your money.

First and foremost, its important to consider the size of the yacht.

The larger the vessel, the more expensive it will be.

However, if youre looking for something luxurious and comfortable, then a larger yacht may be worth the investment.

Additionally, if youre looking to entertain guests, a larger yacht can provide more space for them.

Amenities and features are also an important factor when it comes to determining the cost of a superyacht.

If youre looking for something that has all the bells and whistles, then you can expect to pay more.

This includes things like a helipad, swimming pool, Jacuzzi, and other luxuries.

Additionally, you may want to consider the number of crewmembers youll need.

The more crewmembers you have, the more expensive the yacht will be.

Finally, its important to consider the cost of maintenance and upkeep when determining the cost of a superyacht.

Superyachts require a lot of maintenance and upkeep, and the cost of these services can add up quickly.

If youre looking to get the most for your money, it may be best to purchase a yacht that is easy to maintain.

Ultimately, the cost of a superyacht varies greatly depending on its size, amenities, and other features.

By considering the size, amenities, and maintenance costs of a superyacht, youll be able to get the most for your money.

Final Thoughts

Whether youre looking for a smaller superyacht or something larger, understanding the various factors at play can help you get the most for your money.

From extra amenities to the latest features, luxury superyachts can provide a one-of-a-kind experience.

So if youre ready to explore the world in style, start exploring the cost of your dream superyacht today!

James Frami

At the age of 15, he and four other friends from his neighborhood constructed their first boat. He has been sailing for almost 30 years and has a wealth of knowledge that he wants to share with others.

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Blog | Understanding the Costs of Yacht Ownership

Modern superyachts are a luxury with the latest in entertainment, travel, propulsion, and technology. Some come with standard features and fixtures, but most of them are customized to the owner’s preferences. The true cost of owning a superyacht depends on many factors. Here’s what you should know about the costs of yacht ownership before you jump into the deep end.

The real cost of owning a superyacht

Superyachts are yachts with an overall length (LOA) of 78 feet or more. There are two main costs to consider. Initially, there’s the purchase price of the yacht, which includes the cost, title, and registration. This is followed by the price of maintaining the yacht. Many brokers say to plan on annual costs equal to 10% of the yacht’s purchase price, but this is true only in a small number of cases. In reality, annual maintenance costs can range anywhere from 5% to 30% of a yacht’s purchase price.

Factors such as the usage, brand, type of propulsion, and vessel age can swing your costs either way for seemingly similar yachts. Buyers should evaluate the different operating costs beforehand to avoid unpleasant surprises later on.

Types of operating costs

Costs of yacht ownership especially the operating costs refer to the day-to-day expenses of maintaining a yacht to a reasonable standard. There is some flexibility in these costs, but caution must be exercised when reducing them, as it can affect the yacht’s performance in the long term. Typically, a yacht’s operating costs fall into five major categories.

The age, location, usage, and type of propulsion (engine, sail, or hybrid) will determine a vessel’s fuel expenses. Smaller yachts can bunker about 1,300 gallons at a time, while larger superyachts can bunker over 100,000 gallons. At the current price of $3.60/gallon for MGO, it costs a minimum of $4,700 to fill the tank. You can, however, reduce these costs by refueling further away from popular marinas and cruising at recommended speeds.

Dockage fees

Storage is an important consideration when you own a superyacht. Factors such as the location, season, and facilities provided by a marina affect your final harbor fees. Usually, they are expressed on a dollars-per-foot basis for the LOA of a vessel. An average superyacht sails for about seven weeks a year, in which case the owner can opt for long-term dockage, which is considerably cheaper than transient rates.

Crew salaries

A superyacht experience is best enjoyed when you have a competent crew that delivers value, but that value rarely comes at a low cost. A typical captain will garner wages between $1,000-$1,700 per foot per year based on experience and licenses held. Besides a captain, an owner should also expect to pay the salaries of other crew members, which vary by vessel but can include deck officers, engineers, stewards, and chefs.

The size and use of the vessel will determine how many crew members are required, with charter yachts typically requiring more crew members. Most owners also offer their crew benefits like health insurance and some even offer 401(k) plans . It’s not uncommon for crew compensation to exceed 50% of a yacht’s annual operating cost.

Maintenance and repair

Just like any other substantial investment, a superyacht must be maintained to safeguard its value and ensure dependable operation. This not only grants one peace of mind but also secures the safety of everyone on board. Frequent yacht usage requires regular preventive maintenance to keep the vessel in the best shape. A proper maintenance schedule saves tens of thousands of dollars over a yacht’s lifetime. A well-maintained yacht will also fetch a higher price should you decide to resell. 

Vessel insurance

Insuring your superyacht is financial protection against unforeseen circumstances, such as bad weather, fire, theft, crew injury, and so on. These incidents would otherwise cost you an exorbitant amount. Premiums for superyacht insurance vary by cruising location, size, brand, record, age, crew number, toys on board, and whether the vessel will be chartered. A 78-foot superyacht in Fort Lauderdale for private use, for example, will cost about $11,000 in annual premiums.

The takeaway

Navigating the intricacies of yacht ownership can be a challenge for many buyers. One way to make this task simpler is to hire a yacht management company to handle tasks such as cleaning, painting, manning, maintenance, repairs, insurance, yard scheduling, and more. This liberates the buyer to enjoy the actual yachting experience.

Superyachts are synonymous with glamor and luxury, but owning one requires an ongoing investment. However, if you’re prepared for the real costs of ownership, it’s one of the greatest pleasures money can buy.

Finding the latest news about yachting opportunities and understanding the costs of yacht ownership in South Florida can be challenging. If you would like to benefit from our expertise in these areas, or if you have any questions or comments about this blog post, do not hesitate to contact our Sales Specialists , or call us at  954-900-9988 .

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Yacht Operations Calculator How Much Does it Cost to Own a Superyacht?

Owning a superyacht is a dream for many, but understanding the costs involved is essential to making that dream a reality. Our cost calculator helps you estimate the annual running costs of a yacht based on its length, type, age, value, and number of crew. While the calculator provides valuable estimates, for a more accurate and personalised quote , we recommend contacting our Team to speak with one of our yachting experts. Explore the details below and use our tool to make informed decisions.

Yacht Operations Calculator

Select a length and yacht type to see crew recommendations.

Our recommended number of crew based on LOA would be Crew Members.

Total Operational Costs

Fill in the form and click the button to see the calculations.

Initial Purchase Price

The cost of purchasing a yacht can vary widely based on several key factors. Size is a primary determinant, with larger yachts commanding higher prices due to increased materials, engineering complexity, and luxury features. For instance, a 20-30m yacht might cost between USD 2 million and USD 5 million, while a 70m+ superyacht can exceed USD 100 million.

Yacht Type: Motor or Sail

The type of yacht also plays a significant role in pricing. Motor yachts, known for their speed and range, tend to be more expensive than sailing yachts of similar size due to the complexity of their engines and systems. Additionally, custom new builds, tailored to an Owner’s exact specifications, typically cost more than semi-custom or series yachts, which follow pre-designed platforms. If you can’t decide whether a motor or sailing yacht is right for you, check out our motor yacht vs sailing yacht guide to find out more.

Age and Builder

Age is also crucial. Newer yachts often have the latest technology and require less immediate maintenance, reflecting higher prices. In contrast, pre-owned yachts can offer significant savings but might come with higher maintenance costs and require costly updates. The reputation and craftsmanship of the builder are also important; yachts from Northern European shipyards like Feadship or Lürssen often command premium prices due to their quality and brand prestige.

Furthermore, the condition of the yacht, including its maintenance history and any refits or upgrades, can significantly affect its price. Well-maintained yachts with recent overhauls or modern amenities will generally cost more than those needing refurbishment.

Leverage Our Team’s Exceptional Commercial Expertise

That’s where we come in. We support you in the valuation of your current yacht or one you are considering purchasing. With their expertise and current market knowledge, our sales & purchase consultants and yacht managers can confidently value a yacht, considering a plethora of factors including everything from the recent sales of similar yachts (both on and off market),to external market pressures and detailed yacht surveys.

How Much Does It Cost To Run A Yacht?

Operating a yacht requires a skilled crew. Below, we present the basic crew you can expect on board a superyacht, but the number of crew members and their salaries will generally depend on the yacht’s size. For a 40m yacht, expect to have around 8 to 10 crew members, costing approximately USD 500,000 to USD 600,000 annually.

Various positions on board, such as ETO/AV/IT specialists, sous chefs, pursers, masseuses, nurses, and personal trainers, can be required based on the Owner’s preferences as well as the yacht’s size with the industry standard Safe Manning Document outlining the appropriate numbers of crew relating to the size of the vessel.

Crew Roles, Responsibilities, and Average Salaries:

• Captain: Manages the yacht, ensures safety, and oversees all operations. Average salary: USD 80,000 – USD 200,000 annually.
• First Officer: Assists the Captain and manages deck crew. Average salary: USD 70,000 – USD 120,000 annually.
• Chief Engineer: Maintains the yacht’s mechanical and electrical systems. Average salary: USD 84,000 – USD 144,000 annually.
• Engineers: Support chief engineer to maintain the yacht’s mechanical and electrical systems. Average salary: USD 40,000 to USD 70,000 annually.
• Chef: Prepares meals for guests and crew. Average salary: USD 70,000 – USD 150,000 annually.
• Chief Steward: Responsible for maintaining the interior and managing the team that supports it, they are also the first point of contact for guests on board. Average salary: USD 60,000 – USD 84,000 annually.
• Deckhands and Stewards: Perform maintenance, assist with navigation, and ensure guest comfort. Average salary: USD 30,000 – USD 60,000 annually.

The crew plays a crucial role in ensuring a positive onboard experience, so it’s important to find the right fit for the yacht. This means offering a well-balanced work-life environment with competitive salary and leave packages to attract experienced crew members who can make the experience truly memorable.

2 Maintenance and Repairs

Regular maintenance is crucial to keep your yacht in prime condition.

• Routine Maintenance: Scheduled checks and services, such as hull cleaning, engine servicing, and electronic system checks, costing about USD 100,000 – USD 500,000 per year. This ensures the yacht remains in excellent working condition and complies with safety standards.
• Unexpected Repairs: Unplanned issues can arise, such as engine faults or cosmetic damage, leading to additional costs. Budgeting an extra 10-20% of the maintenance budget for these can be wise. For example, a major engine overhaul can cost upwards of USD 200,000.

3 Insurance

Yacht insurance covers a range of potential risks, from accidents to natural disasters.

Types of Coverage:

• Hull Insurance: Protects against physical damage to the yacht.
• Liability Insurance: Covers legal liabilities, including injury to guests or crew.
• Crew Insurance: Ensures crew members are covered for medical expenses and accidents.

Cost Factors:

Premiums vary based on the yacht’s value, size, age, and cruising areas. A larger, older yacht cruising in high-risk areas will have higher premiums. For instance, annual premiums for a 40 to 50 metre yacht can range from USD 70,000 to USD 120,000 but depends on factors such as hull value and cruising area which could increase the costs further.

Ocean Independence Insurance Services

While we don’t directly offer insurance for your yacht, our in-house operational yacht managers offer insurance management services to take the stress out of your yacht ownership experience. Our services include:

• Policy Selection / Insurance Coverage Assessment: Advising on the best insurance policies tailored to your yacht’s operations and cruising area.
• Claims Management: Handling all aspects of insurance claims, from filing to settlement, ensuring a smooth and efficient process.

4 Berthing Fees

Berthing fees are one of the highest expenditures for yacht owners. Generally, berthing is priced by the length of the yacht and per night, although long-term contracts are also an option for those looking to acquire a home berth with most marinas offering the option to purchase a dedicated berth for a year.

It is also worth considering how much you will use your yacht and where you intend to go. Marinas vary significantly in price, with the most sought-after locations incurring the highest costs. For instance, visiting the most exclusive berths in destinations with limited space like Portofino can cost north of USD 10,000 per night during the high season (not including additional services like electricity, water, and waste removal), and these spots are often booked well in advance.

Purchasing A Home Berth

If you plan to return to the same marina regularly and to own your yacht for several years, purchasing a long-term lease for a berth can offer a range of benefits. While the initial purchase is often significant, it guarantees a comfortable berth in a prime location, even during the busy high season. A strategically located berth can also help reduce other costs by mitigating crew turnover, thereby reducing recruitment, training, and inefficiency expenses.

Additionally, long-term leases present diverse revenue streams. Even though these won’t cover ownership costs, they significantly offset financial burdens. Typically, owners utilise their fixed moorings as a secure homeport during the off-season, ensuring maintenance, crew satisfaction, and peace of mind. While, during peak cruising season, your berth can be leased out, further countering ownership costs.

5 Fuel Costs

Fuel costs are also a significant portion of the annual operating expenses for a superyacht. Fuel consumption varies depending on the yacht’s size, engines, and hull design. As a general guide, a 50m displacement yacht can burn about 500 litres of fuel per hour at cruising speed. Thus, a yacht that is used regularly or is used for long-distance cruising can incur substantial annual fuel costs.

Fuel prices vary globally, and even within the Mediterranean , owners can make significant savings with strategic refuelling. It’s advisable to fill up in regions with lower fuel prices and avoid high-cost areas.

6 Brokerage and Management Fees

Electing to hire a professional yacht manager with Ocean independence offers numerous benefits, including operational efficiency, cost savings, and peace of mind.

We assign a dedicated yacht manager to your vessel, serving as your personal point of reference and delivering regular reports on all aspects of your yacht’s operation, including onboard inspections. Our comprehensive operational management package ensures your yacht is always operated safely and smoothly.

We also uphold a strict non-commission policy for services rendered to our clients under a management agreement. Additionally, all discounts we obtain from suppliers are fully credited to the owners, with no mark-up on our services.

Our Operational Yacht Management Services

Yacht Compliance and Safety Management Services

Technical Support Services for Superyachts

Financial Services for Superyachts

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Specialist yacht operations.

If you feel ready to purchase your dream yacht, or still have some unanswered questions, contact our Team for personalised guidance and professional consultation.

Need help or advice?

The yachting journey can be complex with many decisions to be made. Get in touch with Ocean Independence, and one of our specialist consultants will help you make the right choices.

As a truly global company with 15 offices worldwide, we’re available 24/7 to help with any enquiries.

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How Much Does a Super Yacht REALLY Cost?

See our infographic.

Have you ever bought a lottery ticket and dared to dream of owning a super yacht? Our infographic gives you the low down on the most expensive yachts, who buys them and how much they have to pay to keep them afloat.

Are you interested in joining that illustrious group of yacht owners? This infographic will break down exactly what it will cost for you to have and maintain your very own super yacht. And if you thought parking a car was expensive, then you've never parked a yacht. 

Transcript - cost of maintaining a super yacht

Cost of maintaining a super yacht.

• The sea still remains a prime spot, allowing its explorers exclusive time off in the private surrounds of a super yacht, but owning a super yacht means not only initial capital outlay – often into tens, and sometimes hundreds, of millions – but also annual running costs that stretch well into seven figures. https://www.forbes.com/sites/timthomas/2013/03/27/where-roman-abramovich-david-geffen-and-lakshmi-mittal-choose-to-dock-the-worlds-most-expensive-marinas/
• Operating cost (yr.) – 10% of initial value https://online.wsj.com/articles/SB10001424052702304871704575159902263126816
• For an average-sized yacht of 45 metres, the maintenance price can range from anywhere between €2.5 million and €4 million per year. https://www.campdenfo.com/article/running-superyacht
• Fuel Usage (71m yachts) – 500L of diesel (hr.) https://online.wsj.com/articles/SB10001424052702304871704575159902263126816
• V.A.T. (Value Added Tax) – 15 – 25% of vessel’s value https://www.boatinternational.com/yacht-sales/buying-a-superyacht/
• $400,000 - fuel
• $350,000 – dockage
• $240,000 - boat insurance
• $1 million - maintenance and repairs
• $1.4 million - crew salaries
• https://www.denisonyachtsales.com/2012/06/the-various-costs-of-owning-a-boat-or-yacht/#sthash.SMvlyv8a.dpuf

Who Buys Super Yachts

• Super yachts are purchased by UHNWI or ultra high net worth individuals. A UHNW is someone with net assets over $30 million although some experts calculate with an amount of $50 million. It is estimated that the world population of UHNWI is around 200,000 individuals. https://www.superyachtfan.com/
• Of the 125 owners’ nationalities identified, 14 percent were Americans, followed closely by Russians. The biggest growth was in Asia, where 11% were delivered last year compared with 3% in 2011. https://www.bloomberg.com/news/2013-10-01/luxury-yachts-find-rich-asian-buyers-as-ranks-of-wealthy-swell.html
• Luxury yachts top the list of the 10 most expensive asset purchases ever recorded. Eight out of the 10 billionaires on this list own these luxury vessels. https://www.spearswms.com/news/the-pleasures-and-problems-of-owning-a-superyacht-4377179/#.VBxJwZSSymw
• 10% of the yacht purchase price is usually paid immediately. With the balance paid once the yacht and the all-important documentation has been formally handed over. https://www.charterworld.com/?sub=how-to-purchase-a-superyacht
• Many super-yacht owners keep their vessels for no more than three years before selling up. The new yacht is typically less than five years old and with a fuel range of at least 3,000 miles. https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aqL7mY2CZxDo
• In 2013, 355 superyachts were sold with a total combined price of $US 3.4 billion. The most expensive boat selling for $US 101 million.

The most expensive yachts

• Owner – Hamdan bin Zayed bin Sultan Al Nahyan
• Occupation – Emirati politician and royalty
• Cost – Unknown (Estimated $350M)
• Length – 141.00m (462'7"ft)
• Top Speed – 26 knots
• # of crew members – 56
• Some cues have been borrowed from a UAE navy frigate for increased security
• The doors have been made with carbon fibre, reducing weight
• An eco-friendly fuel based engine will empower the yacht to reduce carbon print
• Other hi-tech gadgets will include the SATCOM (satellite communication system), long-range underwater SONAR, and the night navigator used for when sunlight isn’t the most intense outside.
• https://www.bornrich.com/adm-shipyards-launches-141-meter-yas-superyacht-compete-worlds-largest-yachts.html

Project Azzam

• Owner – Khalifa Al Nahyan
• Occupation – president of the United Arab Emirates
• Cost – $600M
• Length – 180.00m (590'6"ft)
• Top Speed – 30 knots
• # of crew members – 50
• Much of this yacht is still confidential
• However, Azzam can be expected to be environmentally friendly with decreased carbon dioxide, noise and soot emissions, and enhanced fuel efficiency.
• Azzam is also expected to be equipped with facilities to utilise waste heat from the engine to operate the yacht's desalination system for drinking water.
• https://www.ship-technology.com/projects/azzam-superyacht/

The Rising Sun

• Owner – David Geffen
• Occupation – American business magnate
• Cost – $200M
• Length – 138.40m (454'0"ft)
• Top Speed – 28 Knots
• # of crew members – 45
• Steel hull and aluminium superstructure
• The engine is comprised of 4 MTU 20V 8000 M90 engines which can take the boat up to 28 knots of speed
• https://www.bornrich.com/top-12-high-tech-luxury-yachts.html

The Maltese Falcon

• Owner – Elena Ambrosiadou
• Occupation – founder of IKOS Ltd.
• Cost – $120M
• Length – 88.12m (289'1"ft)
• Top Speed – 19.5 Knots
• # of crew members – 18
• She has 21,800 h orsepower DEUTZ diesels, which will take her up to 19.6 knots with power
• Her engine room also hosts three gensets which provide rig handling as well as at-anchor power for all facilities
• The carbon fibre yard arms are all securely fastened on the mast, and do not swing like conventional yachts. Instead, the entire mast rotates.
• She has a sail furling mechanism that is run by an electric motor which differentiates it from any other type of rigging
• https://www.yachtforums.com/forums/perini-navi-yacht/13488-review-perini-navi-289-clipper-yacht-maltese-falcon-3.html
• Owner – Steve Jobs’ Family
• Occupation – Apple
• Cost – $129M
• Length – 79.25 m (260.0 ft)
• Top Speed – 22 Knots
• # of crew members – 22
• This ship is run using iMac’s
• A large pane of special glass runs around the ships side and bow to look like an Apple store
• https://www.bornrich.com/steve-jobs-yacht-venus-controlled-imacs-set-sail.html
• Owner – Alisher Usmanov
• Occupation – Russian oligarch
• Cost – $263M
• Length – 110.00m (360'10"ft)
• Top Speed – 21 Knots
• # of crew members – 47
• She was the first yacht in the world with particle filters on the main engine exhausts
• She has twin MTU diesel-electric main engines
• The combination of diesel electric propulsion (by the gensets and the thrusters) and conventional propulsion with CPP (Controllable Pitch Propellers), this means she is extremely efficient over long distances
• https://www.superyachtfan.com/superyacht_dilbar.html
• https://www.superyachttimes.com/editorial/67/article/id/2139
• Owner – Steven Spielberg
• Occupation – Film Director
• Length – 85.95m (281'11"ft)
• Top Speed – 20 Knots
• # of crew members – 23
• She has 'at anchor stabilisers' which work to increase onboard comfort at anchor and on rough waters.
• She has a projector which will throw an image onto the glass wall of an infinity pool acting as a make-shift cinema.
• Powered by 2 MTU (16V 595 TE70) 4,680hp diesel engines
• https://www.superyachts.com/motor-yacht-8582/seven-seas.htm
• https://www.yachtcharterfleet.com/luxury-charter-yacht-26256/seven-seas.htm
• Owner – Roman Abramovich
• Occupation – Russian businessman
• Cost – $500M
• Length – 162.50m (533'1"ft)
• Top Speed – 25 Knots
• # of crew members – 70
• The whole vessel is bullet and bomb proofed, and in case of an attack, there are five possible exits from the vessel
• She also has a missile defence system
• She has a 3 man ‘leisure’ submarine
• There are rumours that she is equipped with an ‘anti-paparazzi shield’ that is activated by camera flashlights
• https://www.superyachts.com/motor-yacht-4349/eclipse.htm
• https://www.charterworld.com/news/photos-of-the-largest-superyacht-eclipse
• Owner – Andrey Melnichenko
• Occupation – Russian Businessman
• Cost – $323M
• Length – 119.00m (390'5"ft)
• Top Speed – 23 Knots
• # of crew members – 42
• The unique shape of the boat is also known to cut through ice bergs
• Features a reverse bow and ‘tumblehome’ design making it extremely efficient through the water
• She features a number of security customisations including bomb proof windows, over 40 CCTV cameras, motion sensors, biometric fingerprint entry for some areas and is rumoured to have an escape pod in case of emergencies
• https://en.wikipedia.org/wiki/A_(yacht)
• Owner – Sultan Qaboos
• Occupation – Sultan of Oman
• Cost – $300M
• Length – 155.00m (508'6"ft)
• # of crew members – 154
• Features 2 MTU 10,988hp diesel engines
• This yacht is shrouded in mystery as guests have to arrive by helicopter and no one outside the sultan’s direct court has seen the interior of this boat
• https://www.yachtcharterfleet.com/luxury-charter-yacht-22883/al-said.htm
• https://www.luxuryyachtcharter.org/most-amazing-yachts.php

Want to buy a superyacht?

So by looking at the results, my 100m long, 25 knots top speed and 50-strong crew super yacht should cost around $275 million on average.

Yacht insurance from Towergate

For information on our yacht insurance check out our dedicated yacht insurance page  or call 0344 892 1987 to speak to a specialist adviser.

About the author

Adam Summersby is a respected leader with 11 years’ varied experience in niche personal and commercial lines insurance, including caravan, site operators and excess reimbursement, with proficiency in leadership, sales and account management.

Date: October 17, 2014

Category: Boat

At a Glance

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The Staggering Cost of Owning a Superyacht

The new york times pulls together what buying and running a $300 million yacht will set you back..

Just in time for Labor Day, the New York Times published a detailed accounting of what it takes to not only buy a superyacht, but keep that superyacht filled with the kind of fine art and ridiculous toys that sets your gigantic boat apart from all the other gigantic boats also filled with fine art and ridiculous toys.

Suggested Reading

The Times breaks down all of the costs for a middle-of-the-road $300 million yacht, from locating and paying a broker ($9 million) to the little luxury add- ons. You know, $1.5 million for an onboard disco here, $2 million for a panic room there. At least $3 million for crew salaries. The costs really pile up, until that $300 million pleasure cruiser is cresting costs over $400 million. Then there’s the art, which can cost as much as the whole boat. The most expensive painting ever sold, “Salvador Mundi,” by Leonardo da Vinci, is reportedly displayed on the yacht of Mohammed bin Salman , the crown prince of Saudi Arabia.

Related Content

Of course, much of the story is centered around Russian oligarchs and the “difficult” year they’ve had at sea. From the Times :

Fewer eye-popping vessels are departing from the ports of Monaco and Portofino, and recent world events have led to a reckoning with just how many of those boats are linked to unsavory money. After the invasion of Ukraine, more than a dozen yachts owned by people with ties to President Vladimir V. Putin of Russia were seized by European and U.S. authorities. Other such boats have landed in countries like Turkey and the United Arab Emirates, which have a relatively cozy relationship with Russia. (None of the alleged owners replied for comment for this article.) The seized boats range in size from about 130 feet (about three New York City buses) to about 500 feet (13 buses). At the highest end, they can cost on the order of $600 million, which is what Dilbar, by some measures the world’s largest yacht, reportedly sold for. (Dilbar, which is linked to the oligarch Alisher Usmanov , was seized by Germany in April.)

But what’s really the difference between a Russian oligarch’s superyacht and and an American’s? Nothing more than which agency seizes it after an investigation. Our homegrown oligarchs buy just as ridiculously elaborate vessels in order to “...absorb the most excess capital.” Jeff Bezos, the guy who nearly dismantled a major piece of infrastructure to get his yacht from the shipbuilders, eventually makes an appearance way down in the story in a section regarding dinghies ($80,000 and up):

Some of these trailing boats are megayachts themselves, like the estimated $60 million, 246-foot “yacht support vessel” that will follow Jeffrey Bezos’s $500 million, 417-foot schooner. Toys aboard a yacht support vessel might include a McLaren car (which have sold at auction for as much as $20 million), a helicopter ($3 million) or an increasingly de rigueur personal submarine ($2.5 million to $4 million), as well as an assortment of more pedestrian-priced toys like Jet Skis, Seabobs, A.T.V.s and underwater scooters.

And a billionaire who wants to catch tuna and marlin might have a fishing boat floating behind that can cost as much as $20 million.

The Times brings it back around to Russians though, mentioning off hand how oligarch and superyacht trendsetter Roman Abramovich once lost a 371-foot yacht in a poker game . As you take a break from your labors this weekend, maybe grilling up some burgers (or hotdogs, cause inflation) imagine what the life of someone who loses a 371-foot Yacht in a poker game looks like. Someone analogous to these type of folks run your own country and its largest employers. Then, join a union .

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How Much Does It Cost to Run a Superyacht?

Superyachts range in size starting from around 24m with the largest in the world reaching nearly 200m; they are the definition of opulence and luxury. But, what are the running costs of a Superyacht like?

This piece aims to educate you on what aspects of yachting collectively contribute to the overall running cost of a Superyacht. Many people have the perception that the world of superyachts is reserved for the rich and famous. And, when it comes to owning a yacht and fitting the bill for the annual running costs, they just might be right. 

There are many variables to consider when looking into the running costs of a Superyacht. And, each yacht will vary due to different factors. For example engine size, maximum speed, size of the crew, and size of the yacht. 

The average amount of running a Superyacht annually is 10% of the yacht’s value. In a 2015 report by Towergate insurance, on average, a 100-meter Superyacht with a top speed of 25 knots and 50 crew members should cost around $274 million per annum. 

Let’s start with the crew. The crew live onboard, some during the busy summer months. Or, some year-round. It all depends on the itinerary and requirements of the yacht. Crew costs include salaries, training, living expenses whilst crew are on board, travel expenses, and insurance. 

More experienced crew members will demand higher salaries and the bigger the yacht, the more crew it will require. Some of the larger yachts have multiple chefs, which contributes towards the running cost of Superyacht As well as a whole team of interior staff managing service housekeeping and laundry. And, an engineering team keeping the yacht running. Not forgetting a deck team to ensure the yacht’s exterior is always in pristine condition as well as driving the tenders. And, being navigational experts. 

It is not unusual for crew salaries on larger yachts to reach €100,000 per month. Whereas, a smaller yacht with 3 crew would be closer to €16,000.

The crew will also need uniforms. They will be embroidered with the yachts’ name and logo and be supplied by yachting uniform companies. Crew often have various outfits for day and night. A well as for water sports, casual and formal and several accessories to match. 

Water Toy running costs

Superyacht owners love to have the latest and greatest water sports toys and equipment on board. And surely, they all cost a pretty penny. Most yachts will be equipped with paddleboards and snorkeling equipment. As well as kayaks, jet skis, sea bobs, a tender and a variety of inflatables. As an example, one jet ski can range between $5000 – $20,000 depending on the make, model, and spec. While the cost for a luxury tender can be in the millions. 

Berthing and cruising

Where you plan to keep the yacht is another major factor when looking at the running costs of a Superyacht. The fees charged for a berth in a marina are based on the size and demand of the yacht for the marina. As well as the amenities available for your yacht. For example, a berth in St Tropez in the summer months will cost a lot more than a winter berth. This is due to the high demand in the summer. Ports can charge between €2000 and €3000 per night. And VAT, the use of electricity, water, and garbage disposal will be chargeable on top of that. 

Keeping the yacht stocked is very important. Spare parts, filters, pumps, cleaning supplies, and equipment need to be factored into the running costs of the yacht. These costs can vary. It depends on the equipment on board. Also, it depends on the itinerary of the yacht. As onboard stores will need to be well-stocked if the yacht is cruising in remote areas. 

Insurance, Medical & Maintenance

The 2015 Towergate Insurance report averages insurance costs at +- $240,000 per annum. This would include hull insurance, crew medical insurance, and PNI. 

The report also states that repairs and maintenance can result in running costs being millions per annum. It all depends on the age and usage of the yacht, Maintenance includes regular servicing of the generators and engines. Maintenance on all interior and exterior finishing’s, paintwork, woodwork, and equipment needs to be carried out regularly. This is to keep the Superyacht at a high standard. 

Yachts need hull inspections and surveys. This can be every year, two years, or five years. It needs to be done in a shipyard with the facilities to lift the yacht out of the water- these are called periodic surveys. Each yacht will need to comply with the regulations specific to that yacht depending on its gross tonnage and hull material. The costs will be based on the size of the yacht.

Fuel running costs

Fuel is a huge part of the running costs of a Superyacht! Not only does the yacht need fuel for cruising; the generators require fuel to keep the vessel running while at anchor and underway as well as many of the water sports toys requiring fuel. As an estimation, a 70-meter yacht will consume 500 litres of fuel per hour when the engines are running but the yacht is not moving so this would be an example of when the yacht is at anchor. 

The fuel consumption would be significantly higher when the yacht is cruising and could cost up to €24,000 for an overnight cruise of 12 hours at 18 knots. 

Safety equipment

Yachts, by law, need to comply with certain safety and security regulations and this requires specific equipment to be on board. Each yacht, depending on size, design, and the maximum number of crew and guests on board, will have unique requirements. This equipment will include firefighting equipment, life jackets, immersion suits, life rafts, and medical supplies. All of this needs to be regularly updated and serviced as requirements and maritime regulations change. 

Shore personnel 

The last expense is onshore personnel. This includes the services of a management company, or charter brokerage if the yacht is commercially registered. The management company will manage items such as expenses, crew payroll, and crew holidays, as well as any booking of refits or maintenance works. A charter management company will market the yacht to reserve charters for the yacht in the months it is available. 

Management fees will depend on each company as well as the services you procure.

Visit West Nautical for more information on yacht management services.

For the latest Superyacht News, click here .

West Nautical

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Billionaires like Jeff Bezos and Mark Zuckerberg spend millions a year maintaining their superyachts. Here's how.

• Superyachts  are one of the most expensive assets money can buy.
• The true cost of ownership is even more, adding up to millions a year.
• Here's how much it costs to own a superyacht — and what that money is going toward.

Financial advisors are quick to warn prospective owners that a boat is nothing more than a hole in the water in which to throw money. When it comes to superyachts , you'd better have bags and bags of cash.

As one luxury agent told Business Insider at the Palm Beach International Boat Show: "Buying a boat, it's a huge purchase — and nobody needs a yacht."

A superyacht, generally over 30 meters long, is one of the most expensive assets money can buy, with the largest costing more than a lot of real estate or a private jet. Billionaires like Jeff Bezos, Mark Zuckerberg, and Steve Jobs each spent nine figures on their megayachts.

That doesn't include operating costs. Owners should expect to pay about 10% of a yacht's new-build price each year, experts told Business Insider. That's tens of millions of dollars annually for the most luxurious boats.

"It's a small-to-medium-sized business in its own right," said Jeffrey Beneville, a senior vice president at insurance company NFP, where he specializes in consulting clients about yachts.

Unlike many smaller boats, superyachts need staff, not just a captain. Some superyachts have space for dozens of crewmembers , including a chef, engineer, and masseuse for the guests onboard. Each gets an annual salary — the highest-ranking members earn six figures — and benefits. Eric Schmidt's yacht fits a crew of 28 for a ratio of about two crewmembers per guest.

Then there's fuel, dockage fees, routine maintenance, and insurance. The latter hinges on everything from the reputation of a yacht's shipyard to where an owner wants to take it (if a vessel is taking frequent trips to the South China Sea, for example, expect to pay a higher premium). If a superyacht has a support yacht — or a support superyacht, in Bezos ' case — expect to pay another 10% of that boat's price annually.

"The cost to maintain a yacht is so high that they just think that money's getting lit on fire," Matthew Fleissig, the CEO of wealth management firm Pathstone, told BI of his clients who choose to charter rather than own.

One of his firm's clients who does own has a 23-meter yacht valued at $5.2 million. The annual cost to staff, maintain, dock, and insure the boat is $346,297, according to documentation provided to BI. The lion's share is spent on marina fees ($95,970) and maintenance work ($88,408.) While not exactly a Sunfish, that boat is too small to count as a superyacht.

At 106 meters, the Amadea, owned by a sanctioned Russian oligarch , definitely does. The $300 million yacht, which was seized in 2022 and is docked in San Diego, cost $922,000 a month to maintain, a court filing showed: $360,000 for crew salaries, $75,000 for fuel, $144,000 for insurance, $178,000 in dry-docking fees, and $165,000 for maintenance, waste removal, food for the crew, and miscellaneous expenses.

Related stories

"And that's an inactive yacht that's in the water," NFP's Beneville said.

If it were operational and carrying guests, the costs would be about twice that, or between $20 million and $30 million a year, he added.

Of course, it makes more financial sense for the non-obsessives to charter, and many of Fleissig's clients do. And some owners choose to offer their yachts for charter — the most luxurious cost as much as $1 million a week — to offset the costs.

"If you charter the boat for 50 days a year, it's going to help a lot," Anders Kurtén, the CEO of brokerage firm Fraser Yachts, told BI.

Then again, the running costs don't matter as much at a certain point. "If you're worth $30 billion, it's nothing. And if you're worth $117 billion — and these are the guys we're talking about — they're in it as long as it's still enjoyable for them," Beneville said. "It's not a money thing."

Watch: Why South Sea pearls are so expensive

• Main content

How Much Does a Yacht Cost: A Comprehensive Breakdown for Buyers

Yachts embody luxury, status, and freedom, leading many to wonder about the costs associated with such an extravagant purchase.

Buying a yacht is a significant investment that involves not only the initial price but also ongoing expenses such as maintenance, fuel, insurance, and crew costs.

The price of a yacht varies greatly depending on factors such as size, brand, age, and features. Understanding these factors will help potential buyers make informed decisions.

Smaller yachts often start at a few hundred thousand dollars , while larger or more luxurious models may cost millions. Meanwhile, superyachts and mega yachts can carry price tags in the tens or hundreds of millions of dollars.

It is important to remember that additional ownership costs, like annual operating expenses , must be considered when calculating the true cost of yacht ownership.

Key Takeaways

• Yacht costs vary greatly based on size, brand, age, and features
• Additional expenses such as maintenance, insurance, and crew should be factored in
• Assessing all costs involved helps gain a clearer picture of the true cost of yacht ownership

Types and Sizes of Yachts

When considering the cost of a yacht, it's important to understand the various types and sizes available in the market.

In this section, we will explore some of the main categories of yachts, including sailing yachts vs. motor yachts and the range of sizes from small to superyachts.

Sailing Yacht Vs. Motor Yacht

There are two main types of yachts: sailing yachts and motor yachts.

Sailing yachts rely on wind power and sails for propulsion, making them more eco-friendly and fuel-efficient. They come in a variety of sizes and styles, with smaller sailboats starting around 23 feet in length. Some popular designs include sloops, cutters, and ketches.

Meanwhile, motor yachts use engines for propulsion, offering more speed, power, and maneuverability. These yachts typically range from around 30 to 100 feet, although larger motor yachts can also be classified as superyachts. Motor yachts are often equipped with a luxurious interior, offering the utmost comfort and entertainment for guests.

Small Yachts to Superyachts

Small Yachts (10,000-$100,000):

Small yachts generally range from 23 to 40 feet in length. These yachts are more affordable and easier to maintain, making them attractive to first-time buyers. They can be both sailing yachts and small motor yachts. Examples of small yachts include sportfishing boats, family cruisers, and day sailers.

Midsize Yachts ($100,000-$1,000,000):

Midsize yachts typically range from 40 to 60 feet in length. The price of a midsize yacht can vary greatly, with used models going around $200,000 while new ones can go up to a million dollars. They offer more space, better amenities, and improved performance compared to small yachts. Midsize yachts can also be classified as sailing yachts or motor yachts.

Large Yachts ($1,000,000 and up):

Large yachts typically range from 60 to 100 feet in length. These luxurious vessels come with a higher price tag, often costing multiple millions of dollars. Large yachts offer plenty of space for entertaining, as well as state-of-the-art technology and amenities. They come in both sailing and motor yacht varieties.

Superyachts ($10,000,000 and up):

Superyachts are the pinnacle of luxury and sophistication, typically measuring over 100 feet in length. They feature extravagant amenities, such as helipads, swimming pools, and even movie theaters. The price of a superyacht can be astronomical, at times exceeding $10 million or more.

Cost Factors for New and Used Yachts

When determining the cost of a yacht, whether new or used, several factors come into play. These include the age and condition , size and style, brand and model, and location and availability of the yacht.

Each of these factors plays a significant role in the overall cost, so understanding them can help buyers make an informed decision.

Age and Condition

The age of a yacht naturally impacts its price. A brand-new yacht typically commands a higher price than a used one. However, the condition of a used yacht can also greatly influence its value. A well-maintained, used yacht in excellent condition may be more expensive than a newer model with issues or wear and tear.

Size and Style

The size and style of the yacht also play a crucial role in determining the cost.

Generally, larger yachts come with a higher price tag. For example, the average price of a yacht in the United States for vessels 46 to 55 feet was $467,899, while the average price for yachts in the 56 to 79 foot category was $1.18 million.

The style of the yacht, such as a sailboat, power catamaran, or luxury yacht, can have a significant effect on the price as well.

Brand and Model

The yacht's brand and model also contribute to its price. Some yacht brands are known for their luxury, craftsmanship, and performance, which can lead to a higher cost.

On the other hand, more affordable brands may offer similar amenities and functionality at a more budget-friendly price.

It's essential to research different yacht brands and models to find the one that best suits your preferences and budget.

Location and Availability

The location of the yacht, along with its availability in the market, can influence the overall cost.

In some regions, yacht prices may be higher due to factors such as demand, local taxes, or shipping costs. Additionally, if a specific model is in high demand or limited supply, its price may be elevated due to scarcity.

Initial Purchase Price

Buying New Vs. Pre-Owned

When considering the initial purchase price of a yacht, one of the first decisions a buyer faces is whether to buy a new or pre-owned yacht.

New yachts typically come with the latest technology, design, and customization options, but they also come at a higher price.

On the other hand, pre-owned yachts can be significantly more budget-friendly, but may require more maintenance and lack the latest features.

The average price of a yacht in the United States for vessels 46 to 55 feet was $467,899, while the average price for yachts in the 56 to 79-foot category was $1.18 million. These prices can vary depending on whether the yacht is new or used.

The Buying Process

The process of buying a yacht typically involves researching the market, selecting the right size and type of yacht, identifying suitable yachts, negotiating the price, and completing the purchase.

Working with a professional yacht broker can be beneficial in streamlining this process for the buyer as they can provide expert guidance in selecting the right yacht to fit the buyer's needs and budget.

Costs to Consider

In addition to the initial purchase price, there are various other costs that should be taken into account when buying a yacht. These include:

• Insurance : Buyers should consider the cost of insuring the yacht. Insurance fees, among other factors, are influenced by the size and value of the yacht.
• Marina fees : Docking the yacht at a marina will incur fees, which can range from a few thousand dollars for smaller yachts to tens of thousands for larger ones.
• Maintenance : Maintenance costs can make up around 10% of the initial purchase price. For used yachts, be prepared to spend on essential repairs and upgrades as needed.
• Fuel : The cost of fuel is influenced by the yacht's size, engine type, and cruising frequency.

Operational and Maintenance Costs

Crew Expenses

One of the significant expenses associated with owning a yacht is paying the crew salaries .

The number of crew members and their respective positions will vary depending on the size and complexity of the yacht. For example, a 180-foot superyacht may have an annual crew expense of around $1.4 million.

It is essential to account for additional crew-related costs such as insurance, training, and uniforms.

Fuel and Propulsion

Another considerable aspect of yacht ownership is fuel costs. The amount of fuel consumption will largely depend on the yacht's size, propulsion system, and usage patterns.

For instance, a larger yacht may incur around $400,000 for fuel annually.

It is also worth considering the potential expenses for any necessary upgrades or maintenance of the propulsion systems to ensure optimal performance and efficiency.

Repairs and Upkeep

Maintaining the yacht's appearance and condition requires regular maintenance and repairs . These expenses can quickly add up. Annual maintenance costs for a superyacht could reach up to $1 million.

This includes expenses for cleaning, teak oils, wax, and polish to keep the yacht looking immaculate. It is often recommended to allocate around 10% of the yacht's value to cover annual maintenance costs.

Dockage and Storage

Mooring fees, marina fees, and storage are additional factors to consider when estimating the operational costs of a yacht. Dockage costs typically depend on the yacht’s size and the chosen location.

On average, a superyacht may have an annual dockage expense of around $350,000 .

Additional Ownership Costs

Yacht insurance is a significant cost that should be factored into your decision to buy a yacht. The cost of insurance can vary based on the size, type, and value of the yacht.

For example, a 180-foot superyacht may have insurance costs upwards of $240,000 per year .

Obtaining quotes from various providers is essential. Remember that rates can fluctuate based on factors such as the yacht's condition and the owner's boating experience.

Taxes and Registration

Owning a yacht also comes with local and federal taxes and registration fees. Tax rates can vary depending on the state or country where the boat is registered.

In the United States, some states have a sales tax for yacht purchase, while others have an annual personal property tax. Make sure to research the applicable taxes and registration fees in your area to include them in the overall cost of ownership.

Depreciation

Another factor to consider when purchasing a yacht is depreciation. Over time, the value of most yachts will decrease, much like automobiles.

The rate of depreciation may differ based on the yacht's make, model, and age. To account for this potential decrease in value, make sure to have a proper maintenance plan in place and be prepared for the potential resale-value drop.

Extra Amenities and Upgrades

Finally, extra amenities and upgrades can significantly impact the cost of owning a yacht. Additional features such as upgraded electronics, specialized navigation systems, enhanced entertainment systems, or custom interior finishes can add considerably to the base cost of ownership.

Also, consider ongoing costs associated with these amenities, such as maintenance, repairs, and replacements. Budgeting for these additional expenses is critical to ensure your enjoyment of the yacht without financial strain.

Real Cost of Yacht Ownership

Owning a yacht is a luxury many people dream of, but it comes with significant costs. This section will discuss the real cost of yacht ownership , looking at the rule of thumb for annual costs and investment considerations.

Rule of Thumb for Annual Costs

When estimating the cost of owning a yacht, a general rule of thumb is that annual costs will be around 10% of the initial purchase price. This includes expenses such as maintenance, fuel, insurance, and crew salaries.

For example, a 180-foot superyacht could have an annual budget of $1 million for maintenance, $400,000 for fuel, $240,000 for insurance, and $1.4 million for the crew.

Another example is a 50-foot yacht , which may have ongoing costs between $35,000 and $85,000 per year.

• Maintenance and Repairs: The cost of maintaining a yacht can range from $1,000 to over $1 million per year, depending on the size and complexity of the vessel.
• Dockage: Yacht owners should budget around $350,000 annually for marina fees.
• Fuel: Depending on the size and type of yacht, fuel expenses can be substantial, averaging around $400,000 per year for a large vessel.
• Insurance: Insurance premiums for yachts can range from a few thousand dollars to upwards of $240,000 per year.
• Crew Salaries: Crew salaries can account for the largest portion of yacht ownership costs. A large yacht may require a crew with an annual budget of $1.4 million.

Investment Considerations

When thinking of purchasing a yacht as an investment, potential owners should consider several factors.

Yachts depreciate in value over time, making them a less attractive investment compared to traditional assets such as stocks and real estate.

Additionally, the high cost of ownership may make yacht investment less viable for some individuals.

Keep in mind that while some owners charter their yachts to offset costs, this strategy may not fully cover annual expenses. Moreover, chartering exposes the yacht to additional wear and tear, which can result in higher maintenance costs.

Life on Board

Amenities and Comfort

Life on a yacht offers a unique blend of luxury and comfort. Yachts often come equipped with a variety of amenities to make living on board as enjoyable as possible.

One common feature is the cabin , which provides comfortable sleeping quarters and private spaces for relaxation. Some yacht cabins even have their own ensuite bathrooms for added convenience.

A well-designed galley is essential on a yacht, providing the space and facilities needed to prepare meals and store provisions.

Modern yacht galleys often come equipped with high-quality appliances and ample storage space to ensure a pleasant dining experience.

On larger yachts, additional amenities may include swimming pools , outdoor lounges, and spacious deck areas for sunbathing and relaxation. Some superyachts also feature helipads , allowing for easy access to transport and travel to and from the yacht.

Entertaining and Lifestyle

A yacht is not just a floating home, but also a platform for entertaining and socializing. The deck space on a yacht offers a fantastic setting for outdoor gatherings, while a well-appointed cabin cruiser can serve as an ideal venue for more intimate events.

Entertaining on a yacht often involves a range of activities, from casual get-togethers to formal dinners with friends, family, or business associates.

A key factor in this lifestyle is the yacht's finish – the quality of the materials, furnishings, and décor that contribute to an atmosphere of luxury and sophistication.

With such an array of amenities and entertainment options, life on a yacht combines the best aspects of comfort, luxury, and a captivating lifestyle.

Frequently Asked Questions

What is the price range for a small yacht?

Small yachts can cost anywhere from $100,000 to several hundred thousand dollars, depending on factors such as size, brand, age, and amenities.

On average, a new, small yacht may cost around $200,000, but prices can vary significantly based on the specific yacht .

What are typical rental costs for yachts of various sizes?

Rental costs for yachts can vary greatly depending on factors like size, type, and location.

Typically, smaller yachts can be rented for a few thousand dollars per day, while larger, luxury yachts may command tens of thousands of dollars per day.

Some yachts may also require a minimum rental period and may charge additional fees for things like fuel and crew.

What is the purchasing price for a luxury yacht?

Luxury yachts generally fall within the multi-million-dollar price range, with some costing tens of millions or even hundreds of millions of dollars.

The exact price of a luxury yacht depends on several factors, such as the yacht's features, size, customizations, and brand.

What is the cost associated with owning a 50-foot yacht?

The cost of owning a 50-foot yacht includes the purchase price, maintenance, insurance, docking fees, and fuel costs.

While the purchase price can vary greatly, annual costs can be estimated at approximately 10% of the yacht's value, which may include maintenance, repairs, insurance, docking fees, and other related expenses.

What are the expenses involved in buying a 100-foot yacht?

In addition to the purchase price, which can range from a few million to tens of millions of dollars, owning a 100-foot yacht incurs several ongoing costs.

These expenses include insurance, crew salaries, maintenance, docking fees, fuel, and provisions. It is important to budget for these costs, as they can add up to a significant amount each year.

What can one expect to pay for a 70-foot yacht?

The purchase price of a 70-foot yacht can range from several million dollars to well over $10 million, depending on factors such as age, brand, and features.

In addition to the initial purchase price, there will be ongoing costs such as insurance, maintenance, crew salaries, docking fees, and fuel, which need to be considered when budgeting for yacht ownership.

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The real cost of owning a yacht

Looking to buy a yacht? Before you take the plunge, it is important to consider all the real costs associated with full ownership that you may not be aware of. It is essential that you factor in what the yearly running cost and maintenance costs will be - this is as important as the initial purchase price. This is why shared ownership is often something to consider. 

When you own a yacht 100%, consider that a substantial percentage of your investment will be for time that you are not using the yacht at all. The real cost of owning a yacht includes taxes, insurance, mooring fees, crew, dockage fees, maintenance, capital improvement projects, outfitting costs, and more. Your yacht incurs expenses year-round, while you may only be enjoying it a few months or even weeks, out of the year. What if, instead, you could own a 50% share of the same yacht (or better yet, an even bigger yacht with more amenities)? With shared ownership, you can do just that - your investment will be used for your own enjoyment and, at a lower price, you can even benefit by upgrading your yacht experience. 

Let’s walk through a sample yacht and the yearly running costs with full transparency of a 10-million-dollar yacht. Your major costs will be yacht crew, dockage, fuel, and maintenance. Please understand everything is variable based on those decisions plus the age of your yacht.

Owners can expect to spend about 10-15% of the purchase price annually on operating and maintaining a yacht. That's $1-1.5 million a year for a $10 million yacht. The bigger the boat, the more crew and salaries you need. There are also other crew costs, like medical and liability insurance, training, and uniforms.

When you are not exploring the world or sunning on the deck in St. Barts, the yacht needs a place to dock. Dockage costs vary depending on how big the boat is and how desirable the marina is. You can lease a dock monthly or purchase a dock. 

Like most things, yachts get wear and tear — they require regular maintenance and repairs. Routine maintenance can cost roughly 2% of the boat value after the yacht's first year, and around 7.5% of the boat's value when the yacht is 10 years old. That is not including surveys and refits.  

There's also insurance, which is important for not just the yacht but also the tender. Also, don't forget miscellaneous expenses, such as communications, (phone, internet, navigation and Satellite TV) and administration.

Sample 10 million Dollar yacht running costs:

Annual Operating Expenses $1,250,000

Capital Repairs & Reserves  $150,000

Total Expenses $1,400,000

Share it, charter it, or both.    

An alternative option would be splitting the cost of this hypothetical yacht in half to pay $5 million for your yacht initially, and pay $750,000 a year in running costs. It is recommended to use the yacht up to 14 weeks a year per owner for a total of 28 weeks. Or opt to charter out the weeks you do not use it to defray the running cost. AvYachts can help you design the program and will implement it for you – you simply show up as the guest. Whether you prefer to incur all the real costs of ownership of your own yacht, or opt for shared ownership, we can create a custom program. 

Connect with our Luxury Yacht Advisor to learn more. 

AvYachts is the expert in yacht share brokerage. Whether you’re looking to sell a share of your yacht to a like-minded partner, or you want to buy a share of a yacht, our dedicated team of yacht brokers and veteran matchmakers is here to guide you every step of the way.  Let us match you with just the right yacht, just the right partners and just the right ownership structure for you. Yacht to the fullest without the full costs of ownership. 

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How much does it cost to own a yacht?

By Rob Bowman | Posted On Oct 28, 2019 Updated On Apr 16, 2024

Since we opened our doors in 2002, United Yacht Sales has worked with thousands of boaters who hold aspirations of owning a yacht. A yacht can mean different things to different people, especially when discussing the difference between intended use such as fishing, day boating, entertaining, and long-distance cruising. Just as there are many applications for how you plan to use your boat, there are also many boat builders working to design the perfect yacht to meet a specific niche in the marketplace. With nearly 1,000 transactions completed each year, United brokers commonly hear the same questions asked as new boaters begin their research into finding the perfect vessel. The yacht's purchase cost isn't the only expense though and other factors need to be considered.

What does it cost to own a yacht? "The cost of ownership for a 60-foot, $1 million yacht is going to be about 10% of its value, or $100,000 per year if it's over ten years old," said Peter Schmidt , Founder of United Yacht Sales. "You can pretty well estimate that for a later model boat of this size, in the Florida market, your general costs are going to be in that range. This would include things like routine maintenance, repairs, dockage, additional supplies, and the cost of either a professional captain or a yacht manager. If it's a newer boat, the annual costs will be less, however preventative maintenance is still very important."

If you're new to boating and this is your first yacht purchase, it makes sense to discuss these questions with your yacht broker:

• Where do you plan to keep your yacht?
• Are you going to run the boat yourself or will you need a captain?

How much does it cost to maintain a yacht?

• How much does it cost to fuel your yacht?
• Is buying a yacht a good investment?

The answers to these questions vary with many factors influencing the cost of each. Simply the location of where you plan to keep and use your yacht can raise or lower your monthly spend to keep your boat maintained in the best possible condition.

( Seen below: The below 2009 Viking 50 is an example of a sportfishing boat recently sold for approximately $1 million. Boat prices have continued to increase since 2020 and are just now beginning to stabilize. )

How much does it cost to store a yacht at a marina?

One of the first and most important questions to answer before you buy a yacht revolves around storage. If you own a water-front home with a dock big enough to safely store your yacht, the savings are substantial. However, if you plan on keeping your vessel at a marina, those costs need to be included in your annual budget. United Yacht broker Christopher Cooke  owns his own yacht management company and often helps his clients find a space at a marina. "The cost of keeping your yacht at a marina really varies by location," said Chris. "You are charged per foot, but that cost can change not only depending on what county you're in, but also how many amenities are at the marina."

"In Florida, the marinas in Martin County for example, can be half the cost of Miami-Dade," continued Christopher. "It really all depends on your boating plans, where you live, and how far you're willing to travel to be at your boat."

Sailfish Marina of Stuart is a popular yacht storage facility in Martin county that is the closest marina to the St. Lucie Inlet also with accommodations for a 60-foot and over boat. There is a fuel dock at the marina as well as a tackle shop.  If you purchase a slip for a full year on an annual contract, the cost is $20-$22 per foot of your "Length Overall" . This is important, because while some boats might be called a "60", they may very well be 62 feet in length and cost more. Additionally, if you want electricity, water, and waste removal, it can cost you an extra $175 per month for one 50amp line.

Just 40 miles to the south, in the heart of Palm Beach County, sits Palm Harbor Marina. With over 200 slips, some of which can accommodate a 250-foot superyacht and state-of-the-art Marinetek concrete floating docks, the cost is much higher. Using the same example of a 60-foot cruising yacht, the cost of storage is approximately $5,760 per month, along with a $500 per month utilities fee. "With a place like Palm Harbor Marina, boaters are paying for the amenities and the location," continued Chris. Palm Harbor Marina features a yacht club with a hospitality bar and media center, a complete fitness center, game room, deli, concierge, as well as being right next to the best restaurants and nightlife in Palm Beach.

(Seen below: A yacht is welcomed by the professional staff that includes golf cart service. Photo credit: Palm Harbor Marina website.)

"For a yacht that's 60-feet, later model year, and with average usage, you can expect to pay $60,000 per year in preventative maintenance costs ," said Cooke. "And by average use I mean 150-200 hours per year. But that's assuming nothing goes wrong and has to be replaced. Typically you're looking at $4 per foot to have someone dive it, another $4 per foot to have it washed regularly, and then another $1,000 or so to go through and do a full systems check. These costs can definitely vary though depending on the boat and location. Because of inflation with the price of materials and labor, these costs have really gone up over the last 2 years." 

The best advice Christopher has for boat owners of this size is to hire a yacht management company. Yacht Management companies often oversee anywhere from 10 to 50 boats at any one time, Christopher currently has 30. The yacht manager will ensure the boat is clean, all systems checked like transmission and generators, the running gear checked, oil changes are done, and that nothing is starting to fail. Preventative maintenance can save thousands of dollars in the long run of yacht ownership and will end up paying for itself. Many yacht owners have work or other hobbies that take their time away from being able to devote to the proper maintaining of their vessel. The result can be negligence in the upkeep of the boat, causing systems to fail, and end in more costly repair bills. If you're going to spend the money on a nice yacht, a yacht management company is a smart choice.

How much does it cost to insure a yacht?

Joshua Giordano of Global Marine Insurance Agency is no stranger to insuring boats from New York to Florida. In fact, In fact, with over 20 years in the marine industry Joshua offers a unique understanding of marine insurance as it pertains to personal watercraft, boats, and yachts. This knowledge and experience allows him to find the best boat & yacht insurance at the best price.

"We get asked all of the time how much it costs to insure a yacht and the answer is it really depends on where you live and keep the yacht," says Joshua. "For a 60-foot yacht in the Northeast, you're looking at between $6,000 and $8,000 per year for insurance. Come down to Florida and that same boat is going to be $10,000 to $12,000 to insure assuming it's for private use only. If you plan to put your vessel into a yacht charter program in Florida, then costs go up $14,000 per year."

(Seen below: A 62' Azimut Yacht in Florida, if kept at a marina, will likely cost about $10,000 per year in insurance.)

How much does it cost to fill a yacht with fuel?

Trying to budget your annual expense for fuel can be difficult. Not only do some yachts have larger fuel capacities, but their fuel burn and range can also vary. This also then dependent upon how much you use your boat and how hard you will be running the engines. Cruising at lower rpm's at around an 8-10 knot speed can mean better fuel efficiency with longer running times between trips to get more fuel.

Assuming your 60-foot yacht has a fuel capacity 1,200 gallons and with an average fuel price of $5.50, and it will cost $6,600 to fill up. For new boaters, it's really difficult to gauge how much fuel you might use in a year and only personal experience and time on the water can help narrow down that annual cost.

Fuel costs per location also can change depending on where you are boating. The Waterway Guide offers up-to-date pricing on fuel at major marinas through the United States. For example, diesel fuel in Jacksonville, Florida is currently ranging from $5.40 to $5.90 depending on which marina you stop at. In comparison, stopping for diesel in the Florida Keys will start at $4.90 and could be as high as $5.30 per gallon.

Can you finance a yacht?

Finacing a yacht is very common," says Shana White with OceanPoint Marine Lending. "There are many attractive programs out there that can be tailored to fit the bueyer's needs. The boat loan approval process usually takes between 24 and 48 hours to receive an answer." Things like your income-to-debt ratio, credit score, credit history, and asset verification all go into whether or not a bank will loan you the money for a yacht. A favorable rate for a yacht loan could be 4% in the current market with other possible discounts available. Check out our Boat Loan FAQ's page for more information.

Is owning a yacht a good investment?

Are Yachts Worth Buying?

Why Are Yachts So Expensive?

Can I Sell My Yacht Without A Broker?

What To Know When Buying A Boat

What is the best sport fishing boat?

How Much Should I Pay For A Yacht?

Owning a yacht is an investment in yourself, not a financial one. Boats depreciate in value, they cost money to maintain, and you will almost never sell it for more than what you paid for it. The memories you create with your friends and family on a yacht, however, are worth more than words can describe.  Peter Schmidt talks about why to own a yacht after more than 40 years in the business, "Owning a yacht is a good thing, one of the joys of life. Don't let anyone tell you otherwise. A yacht allows you to make memories you never dreamed possible!" Peter is also a current boat owner and has owned several throughout his life. His kids now own their boats and are teaching Peter's grandchildren the joys of being on the water. "I love boating and my kids love boating. It gets in your blood and gets passed down through the generations. There simply is no greater pastime than owning a boat. Yes, there are some inconveniences along the way with repairs, but the good far outweighs any temporary inconveniences." 

Peter suggests "speaking to a knowledgeable, professional, and experienced yacht broker near you about the costs of yacht ownership. If you don't have a relationship currently with a United Yacht broker, please give our main office a call at (772) 463-3131 and we will connect you with the best broker to service you based on your location and boating needs.

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