running costs mega yacht

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Us flagged vessel, health insurance costs per crew, uniform cost per crew, training cost per crew, food cost per crew, crew turnover, hires using a professional crew agency.

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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 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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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 / €.

What is a Yacht Club? Benefits & Features Explained

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What differentiates a yacht from a superyacht or a mega yacht?

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Can I Afford a Super Yacht?

They’re the preferred luxury vacation transport of millionaires and billionaires from Bono to Stephen Spielberg to Jay Z, conjuring images of the mega-rich cavorting off some dazzling foreign coastline.

“Super yachting” is officially one of the world’s most extravagant hobbies. And there’s a very good reason for that: It costs a massive amount of money. Luxury yachts are among the most expensive asset purchases. And it’s not just that the initial capital , which can run tens to hundreds of millions of dollars, is high. Yachts also come with tremendous annual running costs that often soar over $1 million.

There is no legal definition of “super yacht.” The term generally applies to yachts that are 75 feet or more in length, have a full-time professional crew, and are enjoyed for pleasure or commercial operation. Of course, no two super yachts are the same, and no two super yacht owners have the same taste or yacht aspirations. So outlay and running costs can vary significantly.

Key Takeaways

• A super yacht describes a personal boat that is both larger and more extravagant than typical private yachts.
• These are a luxury item that belongs to those ultra-high-net-worth individuals who can afford them.
• Up-front purchase prices can be in the several millions of dollars, and then ongoing operating and maintenance costs could run another million dollars or more each year.

Post-purchase, an owner should expect to pay around 20% or more of a yacht’s initial purchase price annually to keep it running. So in theory, a $10 million yacht would set you back $2 million a year in operational costs. Fuel (lots of it), vessel insurance, dockage fees, maintenance and repairs, and crew salaries are typically the heftiest running costs.

Dockage fees can run about $350,000 and administration about $70,000. Maintenance and repairs can be in the millions, as can crew salaries. The upkeep of the 590-foot super yacht Azzam, owned by President Sheikh Khalifa bin Zayed Al Nahyan of the United Arab Emirates, is estimated at $60 million per year, although it does come with two helipads and a missile defense system.

Luxury Yacht Group provides salary guidelines for a standard boat crew. It prices the captain of a 100-to-170-foot vessel with more than five years of experience at anywhere up to $192,000 annually. And you’ve still got to factor in chefs, stewards, deckhands, engineers, and more. Just so new yacht owners don’t get hit with any rude cost surprises, Luxury Yacht Group has developed a handy crew costs calculator and another one for operating costs .

Prices vary from port to port around the world, but parking your boat at the most exclusive marinas in high season can set you back well over $4,000 per night. Berthing spots during prime-time events such as the Monaco Grand Prix can cost up to $85,000 or more for a five-day stay. Superyachts.com provides a global marina map with which to search the world’s marinas and their seasonal mooring fees.

Keep in mind the obligatory “ toys .” No floating playground is complete without resident fun machines like Jet Skis and submersibles, not to mention crucial, state-of-the-art leisure  amenities like an infinity pool cinema or floating beach club. Eclipse, owned by Russian businessman Roman Abramovich, features two helicopter pads, a three-man “leisure” submarine, and two swimming pools—one of which converts into a dance floor.

Several banks and marine lenders will finance the purchase of a super yacht , either via a leasing transaction or via a marine mortgage . And offering your super yacht for charter can fetch attractive returns. However, if you have to cost-rationalize the purchase, perhaps buying one of these vessels isn’t the best way to go. Instead, you could always charter one for the same floating luxury feeling without all of the ownership responsibilities. There are also fractional ownership schemes that share financial responsibility (and super yacht enjoyment) among a party of investors without the full capital outlay.

If you happen to be one of the world’s ultra-high-net-worth individuals (UHNWIs) , a lavish floating playground could be right for you. However, if you’re not in the billionaire ’s club, don’t despair. You can still charter, share in a fractional arrangement... or simply opt for a more affordable yacht—less “super,” that is. Still, there will always be a place for the opulent, and incredibly expensive, among the world's elite.

Luxury Yacht Group. " Superyacht Cost Calculator ."

AzureAzure. " Azzam: The World’s Largest Private Superyacht ."

Industry Tap. " World’s Largest Superyacht Comes with a Bullet Proof Master Suite & Missile Defense System ."

Luxury Yacht Group. " Salary Guidelines ," Page 1.

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Superyachts range in size starting from 24m and the largest in the world reaching nearly 200m; they are the definition of opulence and luxury.

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 factors such as 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 yachts 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… Crew live on board, some during the busy summer months or some year-round depending 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 will require higher salaries and the bigger the yacht, the more crew it will require. Some of the larger Superyachts have multiple chefs, a whole team of interior staff managing service housekeeping and laundry, an engineering team keeping the yacht running and a deck team to ensure the yachts 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.

Crew will also need uniforms, which are supplied by yachting uniform companies and are embroidered with the yachts name and logo. Crew often have various outfits for day and night, water sports, casual and formal and a number of accessories to match.

Superyacht owners love to have the latest and greatest water sports toys and equipment on board, which all cost a pretty penny. Most yachts will be equipped with paddle boards, snorkelling equipment, 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 to consider when looking at the running costs of a Superyacht. The fees charged for a berth in a marina are based on the yachts size, the demand 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 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 with spare parts, filters, pumps, cleaning supplies and equipment need to be factored into the running costs of the yacht. These costs vary depending on the equipment on board as well as the itinerary of the yacht as on-board stores will need to be well stocked if the yacht is cruising in remote areas where supplies are not readily available.

Insurance, Medical & Maintenance

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

The report also states that repairs and maintenance, depending on the age and usage of the yacht, can cost millions per annum. Maintenance includes regular servicing of the generators and engines; this is normally done once they reach a certain number of running hours. Maintenance on all interior and exterior finishing’s, paint work, woodwork and equipment need to be carried out regularly in order to keep the Superyacht at a high standard.

Depending on the material from which the hull is made, yachts need to be lifted out the water every year, two years or five years for a hull inspection and survey. This will need 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 yachts size.

Fuel is a huge expense for a yacht as 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 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. This equipment needs to be regularly updated and serviced as requirements and maritime regulations change.

Shore personnel

The last expense is on shore personnel, which 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, crew holidays and any booking of refits or maintenance works. A charter management company will market the yacht in order 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.

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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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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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The Ultimate Guide to Understanding the Cost of Owning a Super Yacht

Introduction.

A super yacht is the ultimate symbol of luxury and wealth. These vessels are typically over 80 feet long and come equipped with all the amenities one could imagine, from swimming pools to movie theaters. However, owning a super yacht is not for the faint of heart, as the cost of ownership can be astronomical. The initial purchase cost of a super yacht is just the beginning. Maintenance and operating costs can easily exceed millions of dollars per year . This includes everything from fuel and crew salaries to annual maintenance and repairs. In addition, there are additional costs to consider, such as insurance and dockage fees. Despite the high cost of ownership, many people still dream of owning a super yacht. However, it's important to understand the true cost of ownership before taking the plunge. In this guide, we'll break down the various costs associated with owning a super yacht and provide tips on how to reduce those costs. By the end of this guide, you'll have a better understanding of whether owning a super yacht is worth the investment.

Table of Content

The initial purchase cost of a super yacht, maintenance and operating costs, additional costs of owning a super yacht, ways to reduce the cost of owning a super yacht.

When it comes to owning a super yacht, the initial purchase cost is often the first thing that comes to mind. And for good reason - it's a significant investment. The cost of a super yacht can vary greatly depending on a number of factors, including the size, age, and features of the vessel. At the lower end of the spectrum, a smaller, used super yacht can be purchased for around $1 million. However, for those looking for something more luxurious, the price tag can easily reach into the hundreds of millions. In fact, some of the most expensive super yachts ever built have cost upwards of $500 million. So, what factors affect the cost of a super yacht? One of the biggest is size. The larger the yacht, the more expensive it will be. Other factors include the materials used in construction, the level of customization, and the technology and features onboard. Despite the high cost, many people still choose to invest in a super yacht. For some, it's a status symbol, while for others, it's a way to enjoy the open sea in luxury and comfort. But before making the decision to purchase a super yacht, it's important to consider all of the costs involved, including maintenance and operating costs, insurance, and dockage fees. Only then can you determine whether owning a super yacht is truly worth the investment.

Owning a super yacht is not just about the initial purchase cost, but also about the ongoing maintenance and operating costs. These costs can add up quickly and significantly impact the overall cost of owning a super yacht. Annual maintenance and repairs are a necessary expense for any super yacht owner. The cost of maintenance can vary depending on the size and age of the yacht, as well as the level of upkeep required. For example, a 100-foot yacht may require an annual maintenance cost of around $500,000, while a 200-foot yacht could cost upwards of $1 million per year. In addition to maintenance costs, operating a super yacht also comes with significant expenses. Fuel costs alone can be astronomical, with some super yachts consuming up to 500 gallons of fuel per hour. Crew salaries are another major expense, with a full-time crew of 10-15 people costing around $2-3 million per year. It's important to note that these costs are ongoing and can quickly add up. However, there are ways to reduce these expenses. For example, some super yacht owners choose to charter their yacht when they're not using it, which can help offset some of the operating costs. Others may choose to share ownership with other individuals or companies, which can also help reduce the overall cost of ownership. Ultimately, the maintenance and operating costs of owning a super yacht are significant and should be carefully considered before making a purchase. While the luxury and prestige of owning a super yacht may be appealing, it's important to weigh the costs and benefits to determine if it's truly worth the investment.

Owning a super yacht comes with additional costs beyond the initial purchase and maintenance expenses. These costs can add up quickly and should be taken into consideration before making the decision to buy a super yacht. One of the most significant additional costs of owning a super yacht is insurance. Super yachts are expensive assets, and it is essential to have adequate insurance coverage to protect against any potential damage or loss. The cost of insurance for a super yacht can vary widely based on factors such as the value of the yacht, its intended use, and the cruising area. It is not uncommon for insurance premiums to cost hundreds of thousands of dollars per year for a super yacht. Another significant additional cost of owning a super yacht is dockage fees. Dockage fees are the fees charged by marinas or yacht clubs for mooring a yacht. The cost of dockage fees can vary widely based on the location and the amenities offered by the marina. In popular yachting destinations such as the French Riviera or the Caribbean, dockage fees can easily cost tens of thousands of dollars per week. Other additional costs of owning a super yacht can include crew salaries, which can be a significant expense for larger yachts. Additionally, there are costs associated with outfitting the yacht with the latest technology and amenities, as well as the cost of any necessary repairs or upgrades. While these additional costs can be significant, there are ways to reduce them. For example, some yacht owners choose to charter their yachts when they are not using them, which can help offset some of the costs. Another option is to share ownership of a yacht with other individuals, which can help spread out the costs. Overall, it is essential to consider all of the additional costs of owning a super yacht before making the decision to buy one. While the costs can be significant, for those who can afford it, the rewards of owning a super yacht can be well worth it.

Owning a super yacht is a dream for many, but the cost of owning one can be overwhelming. Fortunately, there are ways to reduce the cost of owning a super yacht without sacrificing the luxury and enjoyment that comes with it. One option is chartering. By chartering your super yacht, you can earn income to offset the cost of ownership. Chartering also allows you to share the cost of maintenance and operating expenses with the charter guests. However, it's important to note that chartering your super yacht may limit your personal use of the vessel. Another option is sharing ownership. By sharing ownership with others, you can split the cost of purchasing and maintaining the super yacht. This option also allows you to share the use of the vessel with others. However, it's important to have a clear agreement in place with the other owners to avoid any conflicts. If you're looking to reduce the cost of operating your super yacht, there are a few things you can do. First, consider reducing the size of your crew. A smaller crew means lower salaries and benefits costs. You can also reduce fuel costs by slowing down your vessel and optimizing your route. Finally, consider purchasing a pre-owned super yacht. While a new super yacht may be tempting, a pre-owned vessel can offer significant cost savings. Just be sure to have the vessel inspected by a qualified professional before making a purchase. In conclusion, owning a super yacht doesn't have to break the bank. By considering these cost-saving options, you can enjoy the luxury and prestige of owning a super yacht without sacrificing your financial stability.

After exploring the various costs associated with owning a super yacht, it's clear that this is not a cheap endeavor. From the initial purchase cost to the ongoing maintenance and operating expenses, owning a super yacht requires a significant financial investment. However, for those who can afford it, the benefits of owning a super yacht can be unparalleled. Despite the high costs, there are ways to reduce the financial burden of owning a super yacht. Chartering and sharing ownership are two options that can help offset some of the costs. While these options may not be feasible for everyone, they are worth considering for those who want to enjoy the benefits of owning a super yacht without breaking the bank. Ultimately, whether owning a super yacht is worth the cost is a personal decision. For some, the luxury and freedom that comes with owning a super yacht is priceless. For others, the high costs simply aren't worth it. It's important to carefully consider all of the costs and benefits before making a decision about whether to invest in a super yacht.

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How Much Does It Really Cost To Own & Run A Superyacht?

If you think it’s hard work maintaining your tinny for weekend fishing trips up the river just take a minute to think about the costs involved in owning your own superyacht. Over the past decade, these behemoths of the sea have become the pinnacles of wealth and success for those with only the deepest of pockets.

These luxurious floating mansions are reserved for Russian billionaires, Saudi Princes and Hollywood celebrities, but if you’re lucky enough to win the lotto you might be able to join the upper echelon of society and own your own superyacht also.

The general rule? On average, owners pay 10% of the yacht’s value in up-keep costs per year, not including crew wages.

Initial Cost Of A Superyacht: ~ $10 Million

The cost of a superyacht varies depending on the size and technology it comes with. Chelsea owner Roman Abramovich’s Eclipse is a 533-foot monster that cost the billionaire $500 million, while America business mastermind David Geffen spent a cool $200 million on his 454-foot superyacht.

Registering Your Yacht: ~ $2,500

Just like any normal vehicle you have to register your brand new superyacht. This is a very important first step as choosing the flag and country of origin you want to register your yacht in can give some great benefits, especially when it comes to tax cuts. The Cayman Islands is a favourite amongst the super rich due to its tax breaks and relatively cheap registration fee, especially when compared to the actual cost of the yacht.

Insurance: ~ $353,850

As well as registering your new nautical explorer you’re going to want to make sure it’s insured. As you can imagine, insuring something as expensive as a superyacht isn’t cheap, so expect to fork out a few hundred thousand every year to make sure you’re covered.

Dockage: – $942,000 (Purchase)

The price varies from port to port across the world, with some docks charging up to six grand a night for casual slots. This 100-foot slot in Antibes is going for a lazy 590,000€ ($942,000) if you’re in the market to buy.

If you want a spot in Port Hercules over Formula 1 weekend, you’ll be looking at $35,000 AUD for a Zone 1 spot from May 20th till May 27th for our yacht size in question, which really isn’t too outrageous.

Fuel: ~ $472,000

If you think everyday fuel prices for your automobile are expensive than you might want to turn away now. Using around 400 litres of fuel an hour, a 100-foot superyacht is going to set you back another half a million to make sure you don’t run out of gas in the middle of the ocean if in use for the majority of the year.

Maintenance & Repairs: ~ $400,000

Like anything mechanical, a superyacht is prone to suffering wear and tear over the years. From routine maintenance to fixing blown motors and electrical equipment, the annual cost can be extravagant but is part and parcel of owning such an expensive toy.

Crew: ~ $876,000

Unless you’re a trained captain steering your own yacht and making sure the day to day running goes smoothly, you’ll have to employ staff to over see operations. Captains cost roughly $1,400 per year per foot of boat – that’s $156,000 or so to command a mere 100-footer according to Forbes.

Deckhands and stewards are relatively cheap at $40,000 to $70,000 per year which is supplemented with you shouting them accommodation and food, but a good chef will cost you at least $100,000 a year. You’ll also need roughly one deckhand for each guest, and we’re assuming you can comfortably fit 8 amigos. And did we mention an engineer? Because hey, we all know boats break down all the time. That’ll set you back at least another $140,000.

Total: ~ $13 million

If you add up the initial cost of your 100-foot superyacht and your yearly expenses you’re looking at roughly $13 million for the first year, then around $2.1 million every year after to maintain it (assuming you pretty much live aboard and minus the purchase costs of the berth & yacht). So the short answer? A fuckload. Maybe in another life.

RELATED: The 750-foot Project Valkyrie will be the world’s largest superyacht

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The Howorths

Superyacht Running Costs

When it comes to enquiring about the running costs involved in keeping and maintaining a superyacht there are two standard answers.  The first is: “If you have to ask, then you cannot afford it.”  The second answer often delivered with an air of social one-upmanship is that: “It costs 10% the cost of the yachts original selling price when new.”

But according to Rupert Connor, CEO at the Luxury Yacht Group both answers are wrong 

So how much do superyachts cost to run?  Connor has the answers in the form of an online yacht running costs calculator. He explains “Our new yacht operating running costs calculator is now on its third major revision.”  He adds “This version took over a year to program and is way more detailed and versatile than those we have issued before.”

Explaining how it works Connor suggests: “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.

The operating costs calculator is tuned for yachts from 24 to 200 metres. Over the years the Luxury Yacht Group have proved operating variables create the largest variances for yachts smaller than 35 metres feet and larger than 75 metres.

Take fuel costs for example. The budget calculator factors in the fuel burn for a range of engine sizes typically those seen installed on yachts by length. Dragging the green “fuel dockage” slider to the right increases the projected fuel burn rate and therefore the budget cost for fuel. The default position would be for a typical displacement fuel burn. Position the slider in the 60-80% range for fuel projections for planning hulls.

Other factors allow for running costs to be calculated that include such variants as keeping a yacht in perfect readiness and reducing costs while the yacht is on the market for sale.  Calculating the costs of shipping yachts across the Atlantic on board Sail on sail off ships versus crossing under the yachts own power are equally laid bare by the calculator 

So where did the 10% of purchase price figure come from?  Rupert Connor says; “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 US$20-30 million range, but just because a broken watch tells the right time twice a day you shouldn’t rely upon it to tell the time.”  It is a well established fact that as yachts get older so their capital value decreases and their maintenance costs increase. “But,” says Connor 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

So do the numbers work for every yacht?  Sadly no! Sailing yachts for example fall outside the scope of this great tool.  Rupert Conner explains: “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.”

The good news is, if they can demonstrate there is sufficient demand, the Luxury Yacht Group may well build a sailing selector switch into a future version of this hugely impressive tool.

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Yacht Operating Cost Calculator

How much does it cost to operate a yacht? The cost of operating a yacht can vary significantly depending on factors such as size, type, location, maintenance, crew salaries, fuel consumption, and insurance. It could range from tens of thousands to millions of dollars per year.

What is the annual cost of owning a yacht? The annual cost of owning a yacht includes expenses like maintenance, insurance, dockage, crew salaries, fuel, and other operating costs. For larger yachts, the annual costs can easily reach hundreds of thousands or even millions of dollars.

How much does it cost to run and maintain a yacht? The cost of running and maintaining a yacht depends on various factors, including the size of the yacht, its age, the type of maintenance required, and the level of usage. Regular maintenance and repairs can be a significant ongoing expense.

How much does it cost to run a private yacht? The cost to run a private yacht can vary widely based on factors like size, fuel consumption, crew salaries, maintenance, and other operational expenses. It could range from tens of thousands to hundreds of thousands of dollars per year.

Can a yacht pay for itself? In some cases, yacht owners may charter their yachts to guests to offset some of the operating costs. This can help a yacht generate income, but it’s unlikely to fully cover all expenses and make a profit.

Is it profitable to own a yacht? Owning a yacht is generally not considered a profitable investment. While chartering the yacht to guests can generate some income, the overall expenses of owning and maintaining a yacht often outweigh the potential income.

Are yachts a good investment? Yachts are generally not considered good financial investments. They are luxury assets that come with high costs and depreciate over time. Yacht ownership is more about lifestyle and enjoyment rather than financial return.

How often do owners use their yachts? The frequency of yacht usage varies among owners. Some may use their yachts frequently, while others might only use them occasionally, like during vacations or special events.

What is the average yacht salary? The average salary of yacht crew members can vary based on their positions and experience. Captains, engineers, and senior crew members generally earn higher salaries compared to entry-level positions.

What is the average net worth of yacht owners? The net worth of yacht owners can vary significantly, but it is typically in the high millions or even billions for those who can afford to own large yachts.

How many miles does a yacht last? With proper maintenance, yachts can last for several decades. The lifespan of a yacht depends on the construction quality, materials used, and how well it is taken care of.

How many crew for a 100-foot yacht? A 100-foot yacht typically requires a crew of 3 to 5 members, including a captain, engineer, deckhands, and stewards/stewardesses, depending on the yacht’s operations and owner’s preferences.

Why are yachts limited to 12 guests? Yachts are often limited to 12 guests for safety reasons and to comply with maritime regulations. The number of guests is usually determined by the yacht’s size and safety equipment onboard.

Do private yacht owners tip their crew? Tipping practices can vary, but it is not uncommon for private yacht owners to give gratuities to their crew members for exceptional service.

Can you permanently live on a yacht? Some people choose to live on yachts as their primary residence. However, this lifestyle comes with unique challenges and considerations, including docking fees, maintenance, and access to essential services.

Do you have to pay taxes if you live on a yacht? The tax implications of living on a yacht can vary based on the yacht’s location, the owner’s residency, and other factors. It’s essential to consult with tax professionals to understand the specific tax obligations.

What tax breaks do you get for owning a yacht? Tax breaks for yacht ownership may vary depending on the country and its tax laws. Some countries offer tax incentives for yacht owners, such as reduced VAT rates for chartering or ownership.

Can you take a mortgage out on a yacht? Yes, it is possible to take out a mortgage on a yacht. Yacht financing is available through specialized lenders, similar to other types of asset financing.

Why do the rich buy yachts? For the wealthy, buying a yacht can be a status symbol and a way to indulge in a luxurious lifestyle. Yachts also offer privacy, freedom to travel, and the opportunity to entertain guests in a unique setting.

Do yachts go down in value? Yachts generally depreciate over time, like most luxury assets. However, the rate of depreciation can vary depending on factors such as maintenance, age, and market demand.

What is the point of buying a yacht? The main reasons for buying a yacht include leisure, travel, privacy, entertainment, and enjoying the luxury of the yachting lifestyle.

What are the disadvantages of a yacht? Disadvantages of yacht ownership include high operating costs, maintenance expenses, depreciation, limited usage, and the need for experienced crew.

How quickly do yachts depreciate? Yachts can depreciate quickly, especially during the first few years of ownership. Afterward, the rate of depreciation may slow down, depending on the market demand and condition of the yacht.

What time of year is best to buy a yacht? The best time to buy a yacht can vary based on the market and individual circumstances. Some owners prefer to sell in the offseason, while others might list yachts when demand is high.

How to make money with a yacht? Making money with a yacht can involve chartering it to guests, participating in regattas or events, offering filming locations, or using it for commercial purposes when not in personal use.

Is it cheaper to buy or build a yacht? Building a custom yacht can be more expensive than buying a pre-owned one. Buying a used yacht is generally more cost-effective, but it depends on individual preferences and requirements.

How does it feel to own a yacht? Owning a yacht can provide a sense of luxury, freedom, and exclusivity. However, it also comes with responsibilities and significant costs for maintenance and operations.

Do yacht owners sleep with crew? Relationships between yacht owners and crew members vary and depend on individual situations and personal boundaries. It is essential to maintain professionalism and respect onboard.

Where do rich people keep their yachts? Rich people keep their yachts in various places, including private marinas, superyacht berths, or while cruising in different regions around the world.

What is the average age of a yacht owner? The average age of yacht owners can vary, but many yacht owners tend to be in their 50s or older, as yacht ownership often requires significant financial resources.

How much does a captain make on a private yacht? The salary of a captain on a private yacht can vary based on the yacht’s size, the owner’s preferences, and the captain’s experience. It can range from tens of thousands to over $100,000 per year.

What is Captain Sandy’s salary? As of my knowledge cutoff in September 2021, Captain Sandy Yawn from the reality TV show “Below Deck Mediterranean” reportedly earns a salary of around $120,000 to $130,000 per charter season. However, salaries can change, and it’s always best to verify up-to-date information.

How much do yacht pilots get paid? Yacht pilot salaries can vary widely depending on their experience, the size of the yacht, and the owner’s preferences. Experienced yacht pilots can earn significant salaries.

How many yachts does Bill Gates own? As of my last knowledge update in September 2021, Bill Gates owns several yachts, including the 112-meter superyacht “Luminary” and a luxury yacht named “Aqua.”

Is it cheaper to live on a yacht? Living on a yacht can be cheaper than traditional homeownership in some cases, especially if the yacht owner travels frequently and avoids high-cost housing markets.

What is the largest yacht that doesn’t need a crew? There are some larger yachts, typically under 50 feet, designed for easy single-handed operation and may not require a dedicated crew.

What happens if a yacht runs out of fuel? If a yacht runs out of fuel, it can be stranded at sea until assistance arrives. Proper fuel management and planning are essential to avoid such situations.

Can you take your yacht anywhere? Yachts offer the freedom to travel to various destinations, but they are subject to maritime laws, regulations, and restrictions based on their flag state and the countries they visit.

How big is the gas tank on a yacht? The size of a yacht’s fuel tank varies widely depending on the yacht’s size and type. Larger yachts can have fuel tanks with capacities of thousands of gallons.

What size yacht requires a captain? The size of the yacht that requires a captain can vary based on local regulations and the owner’s preferences. In many regions, yachts over a certain length, such as 75 feet or more, require a licensed captain.

Can a 100-foot yacht cross the Atlantic? Yes, a 100-foot yacht can cross the Atlantic Ocean with proper planning, crew, and navigational equipment. Many yachts of this size are equipped for long-range cruising.

How much does a 100-foot yacht captain earn? The salary of a captain for a 100-foot yacht can vary based on experience, qualifications, and the owner’s preferences. It can range from tens of thousands to over $100,000 per year.

GEG Calculators is a comprehensive online platform that offers a wide range of calculators to cater to various needs. With over 300 calculators covering finance, health, science, mathematics, and more, GEG Calculators provides users with accurate and convenient tools for everyday calculations. The website’s user-friendly interface ensures easy navigation and accessibility, making it suitable for people from all walks of life. Whether it’s financial planning, health assessments, or educational purposes, GEG Calculators has a calculator to suit every requirement. With its reliable and up-to-date calculations, GEG Calculators has become a go-to resource for individuals, professionals, and students seeking quick and precise results for their calculations.

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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. 

https://www.avyachts.com/what-we-do

Towergate together with our parent company The Ardonagh Group are deeply saddened to hear of the death of Her Majesty the Queen. She is remembered by our colleagues and worldwide as a beacon of duty, wisdom and service.

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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

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What it costs to run $150 million superyacht

It’s expensive to buy a superyacht — but it’s just as expensive to maintain it. Just ask Aussie billionaire Ian Malouf who owns a mammoth 73 metre vessel.

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It’s expensive to buy a superyacht — but it’s also expensive to maintain it.

Just ask Ian Malouf, the Aussie billionaire behind Dial-a-Dump who is also known as Australia’s superyacht king.

He and his family own around 11 yachts that average about 30 metres in length.

One of his most treasured is the 73 metre Coral Ocean he bought for about $US50 million ($A74 million) in 2019 before spending another $US50 million refurbishing it — costing him around $A150 million in total.

It features a spa pool, private treatment room with infra-red sauna, teppanyaki grill, pizza oven, indoor-outdoor gym and an on-board beauty therapist.

But the bills to run a yacht are not for the faint-hearted.

REVEALED: The Australian reveals the richest 250 Australians, worth a combined total of $531 billion

“You could be looking at a payroll of $250,000 per month,” Mr Malouf tells The Australian .

“Then you’ve got extras on top of that, which could be another $300,000.

“We can staff up to 28 and it is usually two months on and two off. Some can be one month on and one off.

“The boats do get older as well, so they need maintenance. Overall, that can be millions of dollars. It definitely is a case of ‘buying them is one thing, running them is another’.”

A rule of thumb is that annual running costs will generally be about 10 per cent of the price a billionaire shells out for their vessel, which is why chartering the boat to others can be cost effective, according to the publication.

If you think that is expensive, Amazon honcho Jeff Bezos’ $A740 million superyacht Koru , codenamed Y721, costs about $US25 million ($A37 million) a year to run, according to the New York Post .

The 127 metre yacht can accommodate 18 guests – and requires a crew of 40 sailors.

Mr Malouf, who made The Australian’s The List - Australia’s Richest 250 , sold his Dial-a-Dump business in 2021 to Bingo Industries for a whopping $557 million cash and shares deal.

He remains on the privatised Bingo board and still has waste property holdings in Sydney’s east — but most of his time is devoted to his superyacht chartering business Ahoy Club, which is run by his daughter Ellie Malouf.

The business rents out his collection of boats, including his beloved Coral Ocean for about $A1.2 million per week. It was booked out for the entire summer. Some A-lister clients include Canadian rapper Drake .

He chartered the megayacht in July last year for about $A1 million enjoying a European holiday with friends.

“Before we got it, it was going for €350,000 ($A567,000) per week,” Mr Malouf told The Australian .

“We were going to spend €5 million ($A8 million) on a refit but decided to go for a big refurbishment for €35 million ($A56 million). But the amount we’re getting for it now shows that sort of investment can pay off.”

Included in Mr Malouf’s collection is a 54 metre superyacht Mischief that’s usually based in Sydney.

But you can understand why Coral Ocean is the object of his affections. He said the rooms are so big, you’ve got a kingsize bed in one with his and hers bathrooms and dressing areas, while the guest areas have four big bedrooms and you can get straight out of the sauna and jump into the water.

And that’s not even mentioning the jet skis, inflatable water slides and paddle boats.

The rooms also feature high-end beauty products such as Dior and iKou.

Mr Malouf, who purchased the yacht on a whim at the Monaco boat show in 2019, said you could easily hang out with 12 other people but you could also have your own space as it’s big enough to not get in each other’s way.

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“The bow is the size of most boats. You can go up and have a party. Over a week you can hang out in seven different places. You can sun bake. You don’t have to get off the boat,” he told The Australian.

The pricey superyacht includes a sun lounge with a glass-bottom spa pool, a sky lounge with a full-service bar and a sound system, according to the boat’s website .

And let’s not forget there are 22 crew members including beauty therapists that can give massages and manicures, a private chef and several stewardesses and deckhands, and of course, a captain.

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What are the expected costs of owning a yacht in the EU

28 October 2015

Purchasing a yacht is only one of the initial expenses. Owning a yacht in the EU has a yearly running cost as well, and you need to understand exactly what you’re getting into at the same time. Indeed, you need to know about all the variables to expect and even establish a budget before you purchase a yacht .

Here’s what you need to know about the yearly cost of owning a yacht:

The average yearly owning costs for a yacht are roughly 10% of the purchase value based upon an 80 to 150 hour-per-year utilization. This estimate does not apply for aged boats and includes crew salaries (when and if needed), telephone and communications, berthing, water and electricity, class certificate(s), company and vessel domiciliation (when and if required), maintenance, technical service, insurance and management. It does not include fuel consumption , which depends on the boat’s utilization.

Super or Mega-Yachts sailing also during the winter season in the Caribbean (or elsewhere) will consequently cost around double.

When hiring a professional yacht manager , you can reduce these costs to around 8% of the purchase value since they will make you benefit from discounted rates for all of the considerations herein, only granted to yachting professionals. Hiring an efficient yacht manager will also result in the pleasure of yachting freely and without the administrative or technical constraints, particularly if you own a commercial vessel.

Whilst refusing to waste money on unnecessary expenditures, if you’re smart, you should not spare on the essential items and if there’s money left over at the end of the year you can reinvest it into the boat, with maintenance or components upgrades – this will not only keep the boat looking and working better, but it’ll also maintain the vessel’s resale value.

Don’t hesitate to contact our YACHT MANAGEMENT team to analyze and provide you with a boat owning cost simulation. We will commit to reducing these running costs, as best we can.

While considering the purchase of a yacht, you may also be wondering if a crew is necessary. Most owners of 70’ and larger yachts prefer to have full-time crew aboard to help them run the vessel. Naturally, this cost is significant. Even if you can run your own yacht, however, you may want to consider bringing in a crewmember or two simply to take care of many daily maintenance chores required for luxury yachts.

Outsourcing guardiennage from a separate company is also a solution if you want to avoid permanent crew wages. Many companies on the Mediterranean marinas will provide with weekly cleaning and minor works on your boat.

When running a charter yacht, a full-time crew is mandatory , not the whole of it, but a minimum crew member staff. This becomes more expensive since these permanent crew members will necessarily have to be under an accredited payroll and with employment contracts in conformity with the Maritime Labour Convention (MLC). In these cases, be careful of the Social Benefits and Charges overhead that this payroll represents in Europe : an average of 23% in addition to the net crew salaries needs to be considered. Other crew expenses are to be considered as crew food.

If you wish to select your crew yourself, but do not want to hire them under your own company, please contact our YACHT MANAGEMENT team, which will provide you with solutions for hiring, contract and payroll management.

SERVICE & MAINTENANCE

Service and maintenance costs are hard to predict and will vary depending on the type of boat, how often you use it, how hard you use it, and how much of the work you’re willing to do yourself.

Every boat kept in the water needs careening, anti-fouling paint and new anodes on a regular basis, which also requires haul-out and manoeuvres fees. We advise planning to do this once a year.

Engines need scheduled service (such as tune-ups and oil changes), as well as unscheduled maintenance in case of mechanical problems. Logically, the more engines are on-board, the more the costs. Sailboats have different regular maintenance costs when it comes to propulsion; five years or so of normal sailing and half that for hard racing is all you can plan on before the sails need to be replaced.

Other main components will also need periodical service like generators, watermakers, transmissions, drives, thrusters, etc.

Outdoor upholstery fabrics and types of vinyl, like your Bimini tops and seat or sunbed cushions, also have a limited lifespan (five to seven years, on average) and will need to be replaced at some point. And while deck hardware (i.e. winches, capstans, etc…) may last for decades, the things you attach to it—like mooring lines and cables—need to be regularly replaced.

Then there’s the cost of cleaners, teak oils, wax, and polish. These are specialized marine products and they aren’t cheap, and over a season, you may spend a lot more than you expected on them.

BERTH, MOORING AND WINTER STORAGE

Mooring is going to cost you plenty. Fortunately, it’s a fixed cost from year to year, which makes it easier to plan for. Decide where you’d like to be moored and then if you’ll rent or purchase a berth . But don’t forget to consider ease of access and off-season hauling and storage costs, if you live in an area where boats should preferably come out of the water during the winter months. Finally, remember to add potential additional expenses for electricity, water, communications and television shore supply.

If you cruise to distant ports for weekend trips or longer navigation programs and plan to tie up in different marinas, you’ll also have to pay for a transit berth, very expensive in the Mediterranean in summer.

For more info, please refer to the article Berths Moorings and Winterizing Solutions in the Western Mediterranean on our blog.

YACHT INSURANCE

Yacht insurance comes in many different forms, and before choosing a policy, you need to know the difference between the various types of contracts. Depending on the type of policy contracted, appropriate yacht insurance will generally cost you from 0.7% up to 0.8% (if you decide to include P & I) yearly, of the boat’s value. Look around for insurance brokers specializing in yachts, because there are a specific language and many clauses which can be unfamiliar to the common insurance agent. Insurance companies that specialize in boats often provide surprising fleet discounts and for the equipment on your boat. Other discounts may apply in relation to safety systems and navigation instruments. Where you cruise (and how far offshore, if you go into the ocean) can also have an effect on the cost of insurance. Find out all the ins and outs before you take possession of your yacht, so you can prepare to qualify for the lowest cost reasonable.

Today, it’s pretty easy to predict this cost, once you know which boat you’re considering, and how and where it will be used; on-line insurance quotes and calculators will help you estimate this expense.

Please refer to our Boat Insurance article on our Blog.

OTHER OWNING COSTS

It is important to ensure a good communications provider on and with your yacht and its crew. Although Communications costs like radio license, satellite telephone, fax, internet and satellite TV subscriptions are not very expensive nowadays, you’ll need to consider finding the most cost-effective providers.

When owning a yacht through a company, especially a charter yacht, you will also need to consider Legal and Statutory costs like yearly surveys, domiciliation fee (for both yacht and company), company registration fees, annual fees for maintenance, class and safety equipment revisions, fiscal domiciliation etc… In these cases, we recommend entrusting your yacht to a Professional Yacht Manager who will naturally charge you a monthly fee for their services.

Other Miscellaneous costs are also important to consider like gratuities, laundry, cash to master, bank charges etc… without forgetting the food and beverage provisions!

If you purchase a boat through Marine Finance , don’t forget to add the monthly or yearly interests and other financial costs.

Our YACHT MANAGEMENT team can also assist you in sorting out these expenses.

FUEL CONSUMPTION

Fuel is one of the larger expenses. Even if you purchase a sailboat, few regular operational costs will compare with a motor-yacht (though naturally, with a sailboat fuel costs are usually lower). This is also the trickiest expense to plan for because it can vary so much from month to month and year to year. The best way to handle it is to try to predict the average distance you’ll cruise per season (or per year), and multiply by the boat’s cruising fuel consumption.

To minimize fuel cost, you must figure out your boat’s most efficient cruising speed, and stick to it. Most modern boats have fuel consumption displayed on the helm’s engine screens. Simply divide the speed by fuel consumption, to figure out how many nautical miles per liter you get at any given speed. Record the efficiency at different speeds and then compare them to see what speed your boat is most efficient at.

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