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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.

Yacht Club de Monaco. " Tarifs YCM Marina ."

CharterWorld. " Eclipse Blohm & Voss ."

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The Costs of Owning a Superyacht

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

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

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

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

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

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Luxury Yacht Group Launches Annual Cost Calculator for Yacht Owners

Yachts are an expensive affair and it is not a new thing to learn that. However, many people make uninformed decisions when they choose to buy a yacht. Luxury yachts need a lot of maintenance and the maintenance in a given year may sometimes cost more than the original price of the yacht.

With that being the case, you would need to calculate always how much it might cost to maintain it for the rest of the year, if you already have a yacht. Instead of making wild guesses, you could take a look at the Luxury Yacht Group Annual Cost Calculator which helps you predict annual operating costs. They specialize in 80-300 feet yachts and the calculations and predictions would be emailed to you or printed and sent. LYG also provides Crew Salary calculator and a Yacht/Crew Certification Guide which can be of immense use as well. If you have a yacht, you certainly are gonna need this! Moreover, if you are planning to buy a yacht, it could still help you with that, and help you assess how much kit might cost to buy a functional and luxurious yacht.

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A Luxury Yacht Group

Princess Motor Yacht Sales

THE LUXURY YACHT GROUP WITH UNRIVALLED GLOBAL EXPERTISE

As a trusted luxury yacht group established back in 1964, Princess Motor Yacht Sales offers decades of experience. Employing 140+ staff across the UK and Europe, we’re the world’s largest Princess approved distributor.

We offer a full host of services to support you as you traverse every corner of the world of yachting, whether it’s through luxury yacht chartering, new and used yachts or comprehensive aftersales services across Europe. When it comes to expertise and quality assurance, we’re the first choice.

Your luxury yacht group: Yacht sales

NEW YACHT SALES

The Princess brand conjures up the ultimate in luxury yacht design and build. Renowned for elegant design, excellent handling and comfort, Princess Motor Yachts set the benchmark for unwavering quality.

Princess has a class of yacht to suit every type of yacht buyer. For anyone into long distance yachting, we have the high-performance Princess X Class cruisers. The Princess F Class offers high-end quality in market-leading flybridge yachts, whilst the powerful Princess R Class sports models set pulses racing.

View our range of new luxury yachts for sale.

BUY THE LUXURY YACHT OF YOUR DREAMS

We can create a yacht that’s customised with your choice of fittings, technology and accessories to suit your own unique vision.

USED YACHT SALES

We are a premium luxury yacht group. We boast a wide selection of high-quality used Princess yachts for sale across the UK and Europe. Our dedicated used yachts sales team will lend their indispensable advice to help you make a confident buying decision.  Insisting that each yacht is valeted and multi-point checked before sale, we ensure you’re ready to take your new boat to the water right away and with assurance.

Search all used yachts for sale.

SHARED YACHT OWNERSHIP

YachtQuarters fractional yacht ownership brings you all the benefits of yacht ownership for a surprisingly low initial outlay. This takes away the usual complexities, allowing yacht owners to share all acquisition and operational costs for a fraction of the price.

Free up time to enjoy your yacht with our complete yacht management and maintenance plans.  We can even arrange personal décor plus bed linen and towels along with a dedicated crew and concierge.

View the Princess 68, with limited shares available now

YACHT BROKERAGE

Our superb office network across Europe and the globe, together with our links to trusted Princess Approved brokers, offers you a wide choice of pre-owned Princess Motor Yachts for sale from anywhere in the world.  With our unsurpassed reputation for quality service and delivery, we’re very often the first port of call for Princess owners looking to sell.

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YACHT CHARTERING

Creating the ideal bespoke charter for each of our clients is our passion. We plan unforgettable experiences, hire highly competent crew, and get every luxurious touch perfect, right down to the smallest detail.

Our luxury yacht group charter services operate from our headquarters in Mayfair, London with the excellent support of offices in the Channel Islands, Spain, the Balearics, Portugal, Turkey, Germany and Switzerland. This gives us the wide reach within our network to offer our clients unique meticulously organised luxury yacht charters to exciting destinations worldwide, and on board some of the finest luxury yachts.

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Your luxury yacht group: Yacht service

YACHT SERVICING & MAINTENANCE

Providing the best after sales support wherever it’s needed. That’s the key benefit to owners from Princess Motor Yacht Sales’ responsive technical support. All our 40 multiskilled full-time engineers are Princess trained to carry out fully guaranteed work to our high stringent standards. Located in key marketplace areas at service centres in the UK and Mallorca, they’re ready to quickly identify and resolve issues.

YEAR ROUND CARE & BESPOKE PACKAGES

Consider the peace of mind of planned scheduled maintenance to keep the performance and condition of your Princess yacht in tip-top state. We can put together a bespoke package to suit your servicing requirements, as well as complete servicing. Just as you would a regular MOT for your car, we have produced a complete service inclusive package to ensure everything is covered.

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BOAT REPAIRS, REFITS AND RETROFITS

As a luxury yacht group, we also deliver extensive boat refits and retrofits along with boat repairs. We have access to some of the finest accessories, toys and upgrades for yacht owners, to enhance the time you spend on board your yacht. Each product is bespoke to the owner, and can be installed by our international team of Princess-trained engineers.

View our featured products for 2021

YACHT CONCIERGE – AT YOUR SERVICE

Our personal yacht concierge service, available at locations in Mallorca, UK, and other international waters, offers you a single expert point of contact for all matters concerning your yacht. Relax in the knowledge that everything’s being taken care of.

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LOAN CALCULATOR

Navigate your yacht financing, use our loan payment calculator to determine a monthly payment that you can afford when looking for new or used boat financing..

Simply enter your desired yacht financing amount, interest rate, and the term over which you intend to pay back the loan. With these inputs, our boat loan calculator will calculate your estimated monthly payment.

Fixed Rates, 3/1/ARM available as well as Interest Only.

*subject to approved credit and loan parameters apply*

Let’s Get Started

Contact us today to find out how Luxury Financial Group can help you.

Map Your Route Yacht distance calculator

Map your route.

You can plan your sailing journey down to the last detail with our interactive distance calculator. Select points on the map below to plot your route. Enter the speed, fuel consumption, and fuel cost to determine the total cost of the trip.

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Explore the world of chartering

Your perfect adventure awaits on a luxury charter yacht. Whether you are new to the world of yacht charters or a seasoned pro, our yacht consultants are here to help at every stage of your yachting journey.

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Privacy Overview

A private jet and two yachts have been seized, as three people have been arrested, in a £76m raid on a group who ran luxury care homes.

Two sites were raided across St Leonard's, Dorset, and Aylesbury, Buckinghamshire, as part of the Serious Fraud Office (SFO) probe, supported by the National Crime Agency (NCA).

The investigation is looking into the UK registered property developer, the Carlauren Group, which collapsed into administration in November 2019.

When it folded, the SFO said that it led to some elderly residents being forced to move out, and left 600 investors out of pocket.

The Carlauren Group bought 23 properties across the UK, often former hotels including the historic Windlestone Hall in Durham, and allegedly claimed to offer annual 10 per cent returns to investors as it sought to turn the buildings into high-end care homes.

However, the SFO said only nine of these became operational and some continued as hotels instead of care homes.

Alongside that, the group allegedly purchased a number of supercars, including two Lamborghinis and a McLaren 570GT, a private jet and two yachts.

Nick Ephgrave QPM, director of the Serious Fraud Office, said: "This company's abrupt collapse has created turmoil and enormous anxiety for many, with elderly people forced to vacate their homes and investors left with nothing.

"Today's arrests are a major development in our investigation and a step towards getting the answers so many people need."

The group was said to have had 600 people and companies invest in the scheme through the purchase of rooms that were to be rented out to the elderly.

This was inside luxury facilities that boasted of swimming pools, room service and other amenities.

According to the SFO, the rooms were advertised and sold with a guaranteed annual payout and opportunity to sell the asset back for a profit after 10 years

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They did get the best of arch rivals Dinamo Ak-Bars in both the Russian Cup and the Prometheus International tournament to show they are knocking on the door.

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Yachting Crew Salary Guidelines and Position Descriptions

The salary guidelines are utilized by an array of industry professionals worldwide as a reliable benchmark for yacht crew salaries. This active data is taken from the thousands of live crew profiles who are placed on yachts by Luxury Yacht Group every year. New members joining the industry turn to the websites ‘Department Descriptions’ to learn the essentials before taking the plunge.

For years Luxury Yacht Group has established themselves as the busiest, most reputable crew agency in the yachting industry. Founder and President Rupert Connor launched the company in 2001 with that exact goal in mind. Over the past decade and a half, the agency has grown in major proportions with offices located across the globe, and expansions into the yacht operations, charter and sales divisions.

The recently launched ‘Yacht Department Directory’ allows you to read about each individual department, and browse through the positions within. Each department is responsible for a unique set of tasks onboard, and is suited for individuals with specific skillsets and experience. The salary guides show a range of pay according to position.

Within each profession there is a detailed break-down of the job and its’ corresponding salary range. These pages are incredibly beneficial to owners and crew, as well as candidates joining the industry. They explain in depth what role each person plays onboard, their specific duties, and the required skills. They also advise which characteristics could be ‘salary modifiers’. In the case of captain as example, a skillset that would modify the salary in a positive way would be speaking multiple languages, but limited experience in the intended cruising area (specific to that job) could result in a decrease of monthly pay. Luxury Yacht Group has meticulously thought about all the factors and attributes that come into play.

The information under each department is also highly beneficial to any crew member looking to further their career on yachts. It clearly lays out the necessary career path for each profession, and goes into detail about how many years’ experience is needed, or what licenses are required to progress. For example, a bosun trying to advance to an officer position will typically have at least three years’ experience, and will have to get the required Officer of the Watch license at a minimum. Holders of an OOW are capable of leading navigational watches with confidence, and the captain will rely on these candidates to manage the deck team.

Another nifty feature inside these pages are the ‘Position Statistics’ which illustrate how many candidates the live data is actively pulling from. At the time of writing this article, statistics for the captain position stated: “Our data is calculated from 17,773 relevant work experience records out of 70,107 experiences in the deck department.” It also goes on to show the average longevity in this position is at 751 days, and that there are 491 candidates currently available as captains on Luxury Yacht Group’s books. This data is alive and will adjust regularly as crew filter in and out of jobs.

It’s tools like these that have given Luxury Yacht Group their edge over competitors. The agency continues to grow and refine the largest professional yacht crew database in the industry. The team has degrees in management, business, engineering, marketing and design. Many of their employees have come from a background in yachting and bring with them factual onboard yachting experiences, positioning Luxury Yacht Group as a well-rounded leader in their field.

Engineering License Changes

The MCA has restructured the engineering certifications. The MEOL course has been done away with, and the AEC course made mandatory and more thorough. Luxury Yacht Group explains all these changes, what engineers progressing through the ranks can do now, and how Y ticket holders can convert their licenses over to the structure.

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A Day in the Life Series – Chief Stewardess

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A Day in the Life Of Series - Entry Stewardess

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