cost of running a mega yacht

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The Real Costs of Owning a Superyacht [Complete Guide]

November 25, 2019 1:00 pm

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

Purchase Cost

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

• • Financing the Purchase
• • Immediate Post Purchase Costs

Operating Costs

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

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

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

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

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

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

Looking for more details?

Receive the complete Cost of Yacht Ownership Guide including:

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

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

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

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

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

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

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

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

How much is a yacht?

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

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

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

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

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

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

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

Here are the main ones you should be wary of.

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

It always cost you money to exploit your yacht.

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

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

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

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

Yachts maintenance: a cost that you should definitely not overlook

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

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

The maintenance costs include :

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

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

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

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

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

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

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

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

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

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

The depreciation’s price of a yacht

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

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

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

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

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

Here are the reasonable costs you could consider:

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

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

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

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

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

How to reduce the cost of yacht ownership?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Frequently asked question

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

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

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

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

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

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

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

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

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

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

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

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Buying a yacht : the frequently asked questions, you might also like.

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

Chartering Requirements and Regulations: A Guide for Boat Owners

What are the Fastest Cruising Catamaran on the Market?

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

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

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

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

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

Table of Contents

Short Answer

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

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

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

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

What Is a Superyacht?

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

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

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

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

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

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

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

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

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

Smaller Superyacht Prices

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

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

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

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

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

They are also easier to transport and maneuver.

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

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

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

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

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

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

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

Larger Superyacht Prices

When it comes to superyachts, size really does matter.

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

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

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

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

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

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

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

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

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

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

Factors That Affect Superyacht Prices

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

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

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

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

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

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

The Most Expensive Superyacht Ever Built

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

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

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

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

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

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

Superyacht Amenities and Features

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

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

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

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

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

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

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

How to Get the Most for Your Money

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Final Thoughts

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

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

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

James Frami

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

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A Reintroduction to the Superyacht Cost Calculator

In October 2018 Luxury Yacht Group launches the third major revision to our superyacht cost calculator. The newest version has been built using our experience as professional yacht accountants and financial advisors. Our yacht management team has over 100 combined years of experience working with real operating numbers for superyachts. Additionally, we took feedback from hundreds of owners, captains and yachting industry experts who have been among the 15,000 users of the previous versions of this tool to make some major changes.

Some of the big changes:

• Expanded chart of accounts. Six major categories divided into 20 sub categories and a further 70 detail categories, making for a very detailed report.
• Advanced option to manually enter specific details and override our defaults, making the report completely customizable.
• Ability to save multiple budget versions and share your report with colleagues and other interested parties.
• Reports can be generated in US dollars, euros or pounds sterling.
• Very quick basic mode with sliders to adjust budget categories within a range of practical numbers.
• Easy to read graphical design.

Our yacht budget algorithm has been built to give yacht owners a realistic and honest budget projection. We have not created a tool that presents unrealistically low numbers to support our brokerage team. We are in the business of operating yachts to a high standard and the numbers that this tool outputs are realistic to achieve that goal with prudent and sensible decision making.

When using the sliders, we make the following general recommendation for where to position them:

Low – 0 to 25%: Operating at these levels requires very careful planning and prudent decision making. To maintain budget levels in this zone requires compromises from the owner. Owner visits need to be planned well in advance and the captain must be an excellent trainer to bring up crew from lower pay grades to perform well. We generally only recommend a budget in this zone in very special circumstances.

Conservative – 25 to 40%: Yachts operating in this budget level are operated very efficiently. Ownership gives the crew a good amount of notice to plan trips that don't require significant travel between locations. Owner allows for some engineering deficiencies to carry through the cruising season so that they can be repaired efficiently during planned maintenance periods.

Sweet spot – 40 to 65%: Our yacht management team likes operating within this budget area. Owners are still good planners providing at least 21 days' notice before using the yacht, but there is budget available to make urgent repairs should something break during the cruising season. The yacht runs to a high standard and you are hiring great crew.

Generous – 65 to 85%: Standards and flexibility are high. You are operating a busy yacht with occasional last-minute visits. Crew are at the top of their game and delivering to a peak level. Due to heavy work load you may see the need to have extra crew available and possibly rotate some.

Perfection seeking – 85 to 100%: In this zone there are no excuses for the yacht to be anything but perfect at all times, and we would class the yacht as running with unlimited budget.

If you would like a budget expert to discuss your specific yacht and her operating costs, please email [email protected] .

Our price list for our accounting and all services is available on our website at: Price List

The Crew Hiring Process — A Captain’s Advice

Those familiar with the yachting industry understand that crew turnover is a constant. While the selection and hiring process is often seen as a necessary evil, a standardized hiring process can turn a distasteful task into something much simpler. The increased efficiency of a process can translate into identifying the best candidates faster and with less effort.

11 Nov 2015

British Virgin Islands Are Open For Yacht Cruising This Winter.

Category 5 hurricanes are very rare so when the North East Caribbean saw back to back direct hits from Irma and Maria in September of 2017 it was obvious that the upcoming cruising season was going to be drastically altered. 85% of yachts that had planned to cross the Atlantic remained in the Mediterranean and USA based yachts stayed well away. The question everyone is asking, “With the 2017/18 season a total loss can yachts once again sail the Virgin waters?”

17 Aug 2018

The Luxury Job Market

The highest standard of service is rare and attainable for a privileged few. There is international demand for employees with traditional service training.

26 Jan 2016

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The cost of owning a superyacht in 2024

Written by Chloe - Thursday, April 06, 2023

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Crew: https://braymarineinternational.com/

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

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

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

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

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

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

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

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

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

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

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

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

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

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How Much Does a Superyacht Cost?

21st apr 2024 by samantha wilson.

Superyachts are some of the most astounding machines on the planet. Their innovation and luxury have fascinated us for decades as we’ve watched them grow in length—and cost—by the year. Today, some of the most expensive yachts in the world can measure a staggering 590 feet and cost hundreds of millions of dollars. Yet the purchase price is just the beginning, and you need to have extremely deep pockets to consider owning a superyacht. Here we take a closer look at how much it costs not just to build or buy a superyacht, but to run it, as well as the price of chartering one of these magnificent vessels. 

Superyachts are some of the most expensive luxury items on the planet and the largest ones can cost hundreds of millions of dollars. 

The Cost of Buying a Superyacht

There are 5,396 superyachts (classified as over 98 feet in length) gracing our oceans as we speak according to SuperYacht Times reporting in 2022. It’s a surprisingly small number when you consider the vast industry that supports them. Although when we look at the cost of owning a superyacht—the build or purchase price , as well as the annual ownership costs—it perhaps shouldn’t come as quite such a surprise. Superyachts are expensive! In fact, they’re one of the most expensive luxury items in the world, and some of the largest superyachts cost not just millions but hundreds of millions to build. 

The gargantuan Azzam holds the title of the world’s largest superyacht (for now), and at 590 feet long, it is huge. (See our analysis on Superyacht versus Megayacht .) The industry has estimated it cost $600 million to build, a figure that few people in the world can afford. One of those people is Russian billionaire Roman Abramovich, whose 533-foot superyacht Eclipse cost an estimated $700 million to build in 2009. Jeff Bezos' recently completed the 417-foot superyacht Koru for an estimated $500 million.

While the largest superyachts hit headlines with their jaw-dropping sizes and build prices, the term “superyacht” covers a broad spectrum of sizes, from the smallest 80- to 100-foot (30-meter) yachts straight up to 230-foot yachts (70 meters) and on to those in the 330-foot (100 meter) range. According to Triton Charters, a good rough estimate for a small, custom-built superyacht is $1 million for every 3.3 feet in length. That means a custom 100-footer might cost $30 million. The formula is less likely to work for a larger superyacht, however, such as a 330-footer that could easily have a price tag of $275 million. 

When discussing prices it’s important to point out that custom and semi-custom vessels built in a production series hull) superyachts will vary in price accordingly. Many brands such as Princess Yachts or Sunseeker offer a production hull with a range of customizable options, from the layout to the finishings. The specifications chosen may increase the final price 20 percent or more. Even so, a new 130-foot semi-custom superyacht might cost in the region of $12-15 million, less than half what a fully custom yacht would cost due to being built from scratch from the very design upwards. 

Pre-owned superyachts of reasonably large size are likely to sell for prices in the $20 to $30 million range, according to a report by Insure4Boats. Older yachts on the market may fetch prices as low as $1.5 million to $2.5 million for a 15- to 20-year-old 90-foot superyacht. 

Superyachts vary hugely in size, from 100 feet to the largest at 590 feet in length. 

Cost of Owning a Superyacht

Buying a superyacht is one thing, keeping it running is quite another. Where the industry once used the figure of 10 to 12 percent of the price of the boat in running costs per year, today that figure has risen to closer to 20 percent, according to Insure4Boats. So what goes into the running of a boat and why does it cost so much?

As we’ve seen, the sale prices of used yachts vary widely, from $11 million in the 130- to 160-foot category, $24 million in the 160- to 230-foot category, and perhaps $80 million for yachts of 230 feet or more. The running and maintenance costs of any vessel always need to be taken into account when looking at luxury yachts for sale , but when we’re talking superyachts for sale, the figures rise exponentially. 

• Fuel: One of the biggest expenses is fuel, as superyachts are thirsty machines. As an example, a 230-foot yacht will use around $2,000 of fuel per hour while underway at 20 knots. A smaller yacht will use much less fuel, so a 150-foot yacht will use around 150 gallons per hour at a rough cost of around $500/hour. Assuming a figure of 500 hours of cruising time a year, that’s a total of $250,000 (excluding all the time spent at anchor with generators running). 
• Dockage: Dockage costs for the largest superyachts can be extraodinary, and at any size point they will still be one the biggest expenditures. Prices are based on the length of the yacht per night. The more sought-after and prestigious addresses will carry the largest price tags, with $4,000 per night in the high season commonplace according to the Luxury Yacht Group. Towergate Insurance estimates that docking fees for larger boats can run up to $350,000 per year. 
• Crew Salaries: Depending on the size of the superyacht, a full-time crew is usually required, and the size of that crew goes up with the yacht size, ranging from three or four members to in excess of 70 members. From the captain all the way down, the total sum of crew salaries will add up. A comparatively modest 150-foot superyacht could have an annual crew salary of $800,000 according to Luxury Yacht Group, which is around 45 percent of the total annual running costs. 
• Maintenance: The upkeep and maintenance of these behemoth yachts is constant and, according to CNN, the annual estimated maintenance costs for Azzam are around $60 million. A much smaller yacht would of course be quite a bit less, but the same yacht maintenance costs need to be factored in. Add to that surveys every few years, which can run into the hundreds of thousands. 
• Provisions: Whether the boat is being used by the owner or for charter, there will be a significant cost to provisioning, both for high-profile guests and the crew. Food, alcohol, flowers, water sports equipment, and much more will all be of the highest caliber and run into the hundreds of thousands of dollars. Consider that a single jet ski to run off the back of the yacht can cost between $5,000 and $20,000. 
• Insurance and administration: The insurance on a 150-foot yacht would be around $73,000 annually, according to Luxury Yacht Group, with management and administration costs on top of that. 

The annual maintenance and running costs of superyachts can run into the millions including crew salaries, fuel, and dockage fees. 

How Much Does it Cost to Charter a Superyacht

If the numbers above have got you reassessing whether superyacht ownership is right for you, then fear not. Chartering a superyacht can be a stress-free way to enjoy the luxury yachting lifestyle with more predictable prices. The cost of chartering a yacht will depend on several factors such as the size and age of the yacht, the destination, the length of the charter, and the level of provisioning required. 

Superyachts usually operate on a pricing structure that is based on the base cost of chartering the yacht including the crew, facilities, and insurance. Other expenses such as fuel costs, food and drinks, special events, and dockage, which will all vary from charter to charter, are charged in advance in what is known as an Advanced Provisioning Allowance (APA).

According to Northrop and Johnson, superyacht charters can cost anywhere from $150,000 per week to over $2 million per week plus expenses. The 278-foot yacht O’ptasia , for example, has charter prices starting at $868,000, while 196-foot Scott Free starts at £395,000 per week.

Buying a Superyacht

If you think purchasing a superyacht might be right for you some day, read our  Top Tips on How to Buy a Superyacht  and our article on  Superyachts 101: All Your Questions Answered . You can get started by browsing for superyachts for sale and megayachts for sale on Rightboat. 

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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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 .

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How much does it cost to purchase a superyacht?

Superyachts are amongst one of the world’s most exclusive purchases, with the finest vessels costing hundreds of millions of dollars. A luxury yacht is the ultimate lifestyle purchase for the world’s richest, offering flexibility, exclusivity, and the freedom to discover the world's hidden gems in unparalleled luxury.

While owning a superyacht comes with a plethora of benefits, many aspects come into play when deciding to purchase one. Working with a knowledgeable yacht broker, such as the team at Yachting Partners International, can help assist you in your search, by providing expert advice and guidance throughout your entire yachting journey.

The cost of buying a superyacht can vary considerably depending on the size, yacht and amenities you wish to purchase.

In general, the smaller the yacht, the lower the price, with superyachts of 24m or more usually attracting asking prices of over €1m, going up to an average of €11.42m in the 40m-50m category, €24.15m in the 50m-70m category and an average of €81.2m for yachts of 70m+.

Purchasing a motor yacht also tends to cost more than a sailing yacht. However, this is often because many sailing yachts on the market are older; a brand-new sailing yacht will still demand a high price.

It is also important to note that semi-custom yachts are often less expensive than customised superyachts. Of course, yachts decked out with beach clubs, sports courts, spas, fitness suites, and a toy box full of the latest water toys can cost much more.

Jeff Bezos's new 412-foot vessel is estimated to cost about US$500 million to build, and Elon Musk's first luxury Model Y Tesla yacht is ready to set sail, costing around $700 million.

What are the benefits of owning a superyacht?

An indication of prestige, few things match the experience of owning a superyacht. Each year, the world's best shipyards are taking shipbuilding to new levels of luxury, implementing the best design materials, advanced technologies, world-class amenities and environment-friendly features to meet the needs of discerning yacht owners.

Almost all luxury superyachts boast elegant onboard interiors, spacious saloons, and sublime sundecks. However, the world's largest superyachts offer amenities that can often rival a luxury resort, including swimming pools, helipads, wellness centres, private cinemas, beach clubs, sports courts, dive centres and more.

There is also the unparalleled level of service that goes into the onboard experience. From onboard chefs to specialist spas, the service goes above and beyond.

Superyacht owners are also treated with privacy and freedom, allowing them to beat the crowds and explore the world's blue water havens as and when they please.

The current superyacht market

Superyacht sales have boomed throughout the pandemic. According to figures in the latest edition of Boat International's Global Order Book, more than 1,200 superyachts are scheduled to be built in 2022 – a rise of 25% from last year. Currently, the total number of sales for 2022 stands at 33, with a combined value of €418m.

According to the Superyacht Group, the number of vessels delivered has grown 50% from 2020, with more than 700 superyachts sold in 2021.

The superyacht market boom is said to be a reaction to the pandemic as UHNW individuals seek ultra-private forms of transportation and accommodation, prioritising safety and hygiene.

Another factor to consider is the simultaneous advancement of technology and the fact that people can work from anywhere in the world, be it from home or the sundeck of their yacht whilst on vacation in the Bahamas.

Are there any hidden costs to owning a superyacht?

There's a range of extra costs to consider when purchasing a superyacht. Once you agree on a deal with your yacht broker, you can expect to pay around 10% of the yacht's value in annual operational costs, including crew, deck, engineering, fuel, insurance, maintenance and harbour expenses. Approximately 45% of the yearly budget is crew related, making up a large proportion of the overall costs.

Most owners choose to instruct an experienced yacht management company, such as the team at Yachting Partners International, who manage the day-to-day operations of the yacht, including crew, finance, compliance, maintenance and refits. This provides owners with worry-free yacht ownership enabling them to spend more time doing what they love.

Should I buy or charter a superyacht?

Depending on your preferences, many will vouch for owning a superyacht over chartering one. Of course, there are plenty of perks to chartering a yacht, and it's entirely down to the individual's needs and what they're looking for. For a prearranged vacation, chartering a yacht is a breeze with far less responsibility than owning a yacht.

However, nothing can beat the spontaneity and flexibility that comes with yacht ownership. You can travel on a whim with minimal notice with a bespoke itinerary tailored to your needs. The familiarity of having your own captain and crew is another perk as they can offer customised experiences based on your preferences.

Should I buy a new build yacht?

Purchasing a new build yacht is another approach to consider. The beauty of a new build means you can customise a superyacht to your style before it's even been built, meaning you can create your dream yacht and add just about anything – from helicopter landing pads to open-air cinemas.

Many billionaires have stamped their image on their vessels. Apple founder Steve Jobs created a sleek minimalist yacht reminiscent of his brand’s iconic products, while chemicals tycoon Sir Jim Ratcliffe designed an expedition-style ship that can carry helicopters and mini-subs.

However, it is worth bearing in mind that building a superyacht from scratch will invariably be more costly than buying a ready-built yacht. According to Forbes, a custom built 100-metre superyacht costs around $275 million. Additionally, custom yachts have a far longer lead-time, taking several years to design and build.

Alternatively, another popular option is a semi-custom superyacht. This allows for the best of both worlds, offering faster lead times and reduced costs, as well as the flexibility to personalise the yacht to your exact tastes and lifestyle.

Building a custom superyacht can be a superb experience when you work alongside a reputable yacht brokerage. Highly skilled agents are able to assist with all aspects of project management, including the technical and financial performance, surveys, classification, flag and technical regulatory paperwork and the delivery of the yacht.

Browse our luxury yacht sales fleet today or contact us to find your ideal superyacht.

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Running Costs

The bottom line.

• Personal Finance

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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What does it cost to run a super yacht?

Figures within the super yacht industry are hard to comprehend, below are a selection of expenses you should consider if you are considering buying a yacht.

I always found it hard to grasp what the yachts I worked on were spending on fuel and would often chat to our engineers about the costs involved. As an approximate guide a yacht of about 70 meters in length will consume about 500 litres of diesel fuel an hour (when the engines are running and not necessarily moving anywhere!).

To get the yacht moving you will need to spend approximately £2,000 an hour, to achieve a cruising speed of around 18 knots. Therefore an average overnight cruise of 12 hours could cost about £24,000 (note…this will be significantly higher for the larger yachts).

The next consideration of costs is berthing a yacht and this is certainly no cheap past time. Some of the top ports charge €2,000-€3,000 per night. The top six most expensive ports to berth at are:

• Capri, Italy
• Porto Cervo, Italy
• Porto Fino, Italy
• Ibiza Magna, Ibiza
• St Tropez, France
• Port Hercule, Monaco

The mooring cost is normally based on the yachts size and the popular ports are booked months in advance. A yacht needs to be moored when on standby as well and ports such as Antibes charge up to €2,000 per night - renting a permanent dock here (like some owners do) cost hundreds of thousands!

Then if you are like Roman Abramovich and you build one of the biggest yachts in the world, you are then faced with actually finding a port that can hold the size of your yacht. At one stage it was reported that he was going to pay to have a dock extended, however he eventually found a couple of ports that could actually take such a large sized pleasure vessel.

Next comes the crewing part, some captains salaries alone can exceed €20,000 per month, then add to this some chief engineers which can be on €10,000 per month …and very quickly you are looking at vast funds just to keep the yacht fully crewed. Wage bills of €100,000 are not uncommon on the larger yachts employing some 50 crew.

As well as the crew on-board you also have your shore based crew, managing agents, financial staff etc. which can be added on top of this figure. Along with this comes the costs of providing food, toiletries and all living requirements for the crews on-board; feeding 50 people on a daily basis is no cheap undertaking.

Then comes the servicing costs of these yachts. Lifting the yachts out the water is by no mean feat and to service these technological advanced super structures and engines comes with a hefty price tag. Servicing costs for the larger yachts easily run into millions of pounds.

Super Yacht Toys

Add to all these costs the need for the latest toys and gadgets on board. The best looking, most advanced tenders are frequently custom build and often exceed the £1 million price bracket. Coupled with the essential need for the latest jet skis, helicopters, submarines, diving equipment and numerous other toys to make your yacht complete.

Safety and Security

Attacks from pirates is a growing threat and owners are all too weary of ensuring their prize possession is not held to ransom in foreign waters. Equipment such as lasers that can cause temporary loss of vision cost some €70,000 from SeaLase and demand for their product is reportedly growing.

Another product is the $450,000 "SeaOwl" tracking system, which combines radar and infrared or thermal cameras to detect incoming threats as far as five kilometers away. On top of this are the panic rooms, anti-paparazzi shields and armed security staff.

To cover the running and maintenance costs of a super yacht it is recommended that you allow some 10-12% of the purchase cost, meaning a £50 million pound yacht is likely to cost around £5 million a year to run and maintain. For some of the largest yachts it has been reported that it could be costing their owners over €50 million a year to run and maintain.

It has been reported that the average yacht is used for some three to five weeks, so justifying such a purchase to your accountant as a sound financial investment may prove difficult!

With costs like this it is easy to see why some of these yachts are hired for over £1 million for a week by guest, such a cost in the grand scheme of owning a yacht could bizarrely almost be deemed value for money! Chartering the yacht also provides some income to those owners not using their yacht on a regular basis.

So you can see why owning a super yacht must be one of the ultimate statues that money can buy, because not only owning a vessel will cost many millions to buy but running it will also cost millions.

For more information read Work on a Super Yacht: The Beginners Guide by Ben Proctor

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

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

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

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

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

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

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

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

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

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

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

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

Related stories

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

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

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

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

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

Watch: Why South Sea pearls are so expensive

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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.

Insane $2 billion ‘goliath mega yacht’

Inside Dubai sheikh’s wild yacht for kings

Jeff quietly drops staggering amount on jet

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.

More Coverage

“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.

It’s a mega yacht unlike any other with the $2 billion vessel boasting its own submarine and five-star amenities like a beach club.

An ultra-luxury megayacht designed like a military-style aircraft carrier promises to be a sheikh’s paradise at sea as it boasts some insane features.

Jeff Bezos has reportedly bought a fourth private jet considered the one of the largest and most advanced in the world – and he spent a insane amount on it.

Click to speak with a private yacht concierge.

The real cost of owning a yacht

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

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

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

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

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

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

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

Sample 10 million Dollar yacht running costs:

Annual Operating Expenses $1,250,000

Capital Repairs & Reserves  $150,000

Total Expenses $1,400,000

Share it, charter it, or both.    

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

Connect with our Luxury Yacht Advisor to learn more. 

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

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Yacht Charter Costs Explained

A comprehensive breakdown of your charter costs and fees.

When you begin planning a luxury yacht charter it is important to be aware of what is included in the cost of booking your dream charter yacht. although a yacht will have a base charter fee, this may or may not include additional expenses such as food and fuel and this is subject to the terms and conditions within the charter contract. there are various types of charter contracts and which one applies to you will depend on where you wish to cruise., high season.

High season refers to the most popular weeks of the year for yacht charter, whether it’s the winter period in the Caribbean or the height of summer in the Mediterranean , booking in high season requires early planning, determination and a big budget. In addition, planning a yacht charter to coincide with a major event will also be reflected in the price with marine spots for elite events often booking up early. Allow plenty of time when making enquiries to ensure a star studded, well prepared arrival.

Low season typically refers to any time outside of the high season periods. Groups of families and friends looking for a relaxing luxury vacation are advised to avoid high season weeks and opt for weeks outside of this time. The busiest periods are of course reflected in the charter costs and can be up to 15 to 30 percent more expensive than typical low season periods. Chartering a few weeks either side of these busy periods can be almost exactly the same, with the weather almost unchanged in some places, with far less crowds.

Take to our detailed destination guides and browse the yachts available in your chosen destination. Some of the most successful superyachts in the industry can be reserved up to a year in advance and as most yacht brokers will warn away from last minute bookings, it is better to book early and have the pick of the bunch rather than miss out at the last moment. Browse the Events section for details on upcoming festivals and sporting events or visit our Finding a Yacht Broker page to begin your planning your luxury yacht charter.

This article will go into detail of the costs to be expected when planning and booking a yacht charter. From the base charter fee of a yacht, what is covered within the fee and how it may vary in addition to details of contracts and how an Advance Provisioning Allowance (APA) can be used to manage any expenses.

Base Charter Fee

The base charter fee in essence refers to the hire cost of the yacht itself, with all equipment in working order in addition to the cost of food and wages for the crew during the entirety of the charter. This is essentially all the base charter fee covers with additional expenses often applicable on top. The base charter fee will vary from one yacht to another and this may be down to any number of reasons from size and on board amenities to the charter season. For instance, the base rate of a charter yacht may increase in "high season" and reduce during the "low season". "High season" and "low season" refers to the busiest and slowest periods for yacht charters though this may appear misleading, as these peak times refer to periods of weeks as opposed to full seasons. In addition, you may find that a yacht is also more expensive during special events such as the Monaco Grand Prix, Cannes Film Festival and America's Cup. Unless you are keen to charter a yacht for a particular "high season" event, choose your dates carefully as although a "high season" rate will be more expensive than the "low season" the two can sometimes share much of the same weather conditions.

Aside from seasons and events, yachts of the same size may also differ in price and this may be down to a vast difference in on board amenities. A yacht which boasts an on board cinema or lavish water toys may have a higher base rate compared with a yacht of minimal amenities of the same size. If it is unclear as to why two yachts of the same size are vastly different in price, ask your yacht broker to explain what the differences are. Once you are clear on what the base price is and why, it is important to discover what costs will be applicable on top and this is dependent on the type of charter contract used.

The type of charter contract applicable to your charter will depend on where in the world you are cruising, as there are various terms within the industry which dictate how the payment structure is determined. For instance, a MYBA (Worldwide Yachting Association, formerly known as Mediterranean Yacht Brokers Association) contract operates under Western Mediterranean Terms (WMT) and is arguably the most commonly used, particularly with large yachts embarking on a Mediterranean yacht charter. This contract is often referred to as a "plus all expenses" contract and requires that the charterer pay for fuel, food, beverages and dockage fees as an additional expense outside of the base charter fee. Typically, guests can accumulate an additional 25% to 50% of the base charter fee though this is dependent on what is consumed. These expenses can be tracked through the use of an Advance Provisioning Allowance (APA) which we will cover in the next section.

Alternatively, smaller yachts on a Caribbean yacht charter can expect a "mostly all-inclusive" contract known as Caribbean Terms Inclusive (CTI) sometimes referred to as Standard Caribbean Terms (SCT). The Standard Caribbean Terms greatly differ from Western Mediterranean Terms, as the Caribbean terms include three meals a day in addition to four hours cruising per day which is included in the base charter fee.

In addition to the commonly used MYBA terms and Standard Caribbean Terms, there are also less frequently used terms such as Standard Eastern Mediterranean Terms (SEMT) and Greek Terms (GI). Read our guide on Understanding Charter Contracts for more information and if you are unsure as to what is included under the terms of your contract, be sure to ask your broker.

Advance Provisioning Allowance (commonly referred to as APA)

Irrespective of the charter contract it is important for guests to be aware of the Advance Provisioning Allowance (APA). The APA was designed to enable charterers to manage their expenses through a clear and trackable arrangement. An APA is a way to deposit the estimated expense amount of your charter to cover costs such as fuel, food and dockage fees. Typically, the APA accrues to approximately 25% to 30% of the base charter fee, though this does of course depend on the charter parties tastes and requirements and could be far less or far greater than this estimation. For instance, charter guests who intend to regularly dine on caviar and vintage wine can expect to pay more, whereas guests on board a sailing yacht charter can expect to save on fuel costs. Charterers can request an estimated APA amount from the yacht broker based on their on board expectations.

The APA is to be paid approximately one month prior to boarding the charter yacht and is paid directly to the Captain of the yacht. Once the APA has been paid to the captain it will then be retained as a bank account of sorts, from which the captain can make expenditures whilst keeping a record of what has been spent. At any point during the yacht charter guests can request a rundown of accounts from the captain as a way of keeping track of expenditures. The captain will request that any additional funds are paid during the charter should guests exceed the APA. It is therefore a good idea to keep an additional account with your yacht broker on shore, as should the APA become critically low at any time the yacht broker can release additional funds to the captain on the charterers command. Cash can be used if necessary though an on shore account may be deemed as hassle free to some.

It is important to remember that food and fuel for example, are charged at cost without mark up to the charterer and upon disembarking, transactions can be reviewed by the "head" charterer and Captain with any remaining funds to be paid back to the charterer.

Fuel and Dockage Fees

It is important to remember that whilst considering fuel costs, the fuel consumed when using jet-skis and tenders will also apply to the charterer. In addition, whilst docked at a marina the generators used in order to produce electricity will also use fuel. The distance travelled and speed of cruising also affects fuel costs and it is important to bear these factors in mind. Dockage fees may vary from very little to large sums and this is dependent again upon the location and whether you wish to dock during a special event such as the Monaco Grand Prix.

Although insurance costs are not directly connected to the charter costs as such, it is useful to bear in mind should you with to take out Charterers Liability Insurance or Cancellation and Curtailment cover. You can read more information regarding insurance in our How to Book and Plan a Yacht Charter article.

Value Added Tax (VAT)

European Union (EU) tax laws state VAT will apply should you disembark within their waters, for example Italian territorial waters. This may also apply to some Caribbean islands. Commercially registered vessels are usually VAT exempt though vessels which are not commercially registered will be liable for VAT for all charters within the EU.

No request is too large or detail too small on a yacht charter though it is wise to keep in mind the shipping costs should you request an expensive bottle of champagne to be transported to you whilst you are residing in a secluded bay of the Caribbean. It is important to understand the entire payment structure to ensure no unpleasant surprises arise and it is often prudent to keep an escrow account with your broker on shore in order to control charter costs without having to carry cash on board.

Getting Started

• Understanding Charter Costs
• How To Choose Your Yacht
• Finding a Yacht Broker
• Activities On-Board
• Yacht Charter Seasons
• Understanding Charter Contracts

Before You Go

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• What to take on your charter vacation
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