super yacht cost to run

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

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

Yacht Operations Calculator

Select a length and yacht type to see crew recommendations.

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

Total Operational Costs

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

Initial Purchase Price

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

Yacht Type: Motor or Sail

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

Age and Builder

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

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

Leverage Our Team’s Exceptional Commercial Expertise

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

How Much Does It Cost To Run A Yacht?

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

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

Crew Roles, Responsibilities, and Average Salaries:

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

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

2 Maintenance and Repairs

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

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

3 Insurance

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

Types of Coverage:

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

Cost Factors:

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

Ocean Independence Insurance Services

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

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

4 Berthing Fees

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

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

Purchasing A Home Berth

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

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

5 Fuel Costs

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

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

6 Brokerage and Management Fees

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

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

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

Our Operational Yacht Management Services

Yacht Compliance and Safety Management Services

Technical Support Services for Superyachts

Financial Services for Superyachts

Employment Services for Superyachts

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Specialist yacht operations.

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

Need help or advice?

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

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

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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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Yacht Maintenance Cost. The Real Costs of Owning a Superyacht

23rd oct 2023 by samantha wilson.

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

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

Yacht maintenance cost

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

Yacht f uel costs

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

Berthing and mooring costs

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

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

Owner-on-board costs

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

Super yachts crew salaries

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

Super yacht repairs

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

Super yachts taxes and insurances

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

Communication Costs

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

Super yachts tenders and toys

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

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

Written By: Samantha Wilson

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

More from: Samantha Wilson

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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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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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Revealed: The true cost of running a $3 million superyacht

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Everyone loves the idea of owning a superyacht but what does it actually cost to run one? The owners of a Sunseeker 105 charter yacht reveal all...

Have you ever heard the saying, “If you need to ask the cost, you can’t afford it”? Trite as it may sound, there is a grain of truth in it, especially when it comes to buying and running a superyacht.

But there are ways of offsetting the costs, which is exactly why the owners of Kefi , a 2004 Sunseeker 105 based in Florida, ended up buying a pre-owned superyacht rather than their original idea of buying a brand new 60ft sportscruiser .

By chartering out Kefi during the weeks they weren’t using it themselves, they hoped to offset the costs of running such a big vessel while enjoying the benefits of a much more palatial crewed yacht when they were able to use it.

We covered their original buying journey in the October 2022 issue of Custom Yachting. Now they have owned Kefi for over a year, they have agreed to share what it actually cost them to run and how much revenue it earns in charter fees to see whether the sums add up.

Captain and crew are integral to Kefi’s success as a charter operation. Photo: Elliott Maurice and Kefi Charters

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The rather scary-looking answer to the first question is just over $1.1 million per annum, but that includes all the costs of running a charter boat – a privately run boat would cost a fair bit less.

The answer to the second question is rather more complicated because their goal was to end up with a profitable charter business with personal use costs the same as if they were running a brand new 60ft sportscruiser privately.

To go through the numbers and show me all the work they have done to make it a successful charter business, Scott, one of the co-owners, invited me to experience a short cruise aboard Kefi from the Bahamas to the Exumas and back.

Moving between the Bahamas and Rhode Island helps extend the charter season. Photo: Elliott Maurice and Kefi Charters

Crunching the numbers

A 40-minute flight from Fort Lauderdale to Nassau provided an excellent opportunity to discuss the past year with Scott. Having owned several boats over the past three decades, including a 44ft flybridge that he still keeps for his own private use on Lake Erie, Scott is no stranger to the costs of running a boat but even he was surprised at the step up.

“It has been a learning curve,” admits Scott. “This is a whole different level financially. The costs are exponential compared to an owner-run smaller boat but we did go into it with our eyes wide open. It is a business with lifestyle implications, not a lifestyle with business implications. We didn’t want to be the alcoholic who buys a bar and drinks all the profits with his friends”.

Even so, ensuring the business model works is no easy task and a key part of that is finding the right people to run it. They tried four different captains and made several changes of crew before settling on the perfect team.

A wide array of tenders and toys keeps guests happy. Photo: Elliott Maurice and Kefi Charters

One prime example is Kefi ’s liveaboard engineer, who saved nearly $200,000 in engine rebuild work alone. He’s not the only one, when we arrive at the yacht, Captain Richard Perez, his three crew and the chef, all dressed immaculately in the yacht’s formal uniform immediately make us feel at home.

Like any business, the best investment is in the quality of its people.

Scott and his co-owner only have time to use the yacht four weeks each per year, which leaves a maximum 44 weeks free for charter. However, eight weeks of those are given over to annual maintenance and refit work, and at least as many are lost to transit and turnaround times between charters.

In their first full year Kefi was chartered for 18 weeks, and a realistic goal for the future would be between 20-25 weeks. To reach that level, Scott knew Kefi needed to stand out in a crowded market so his first priority was to bring her up to the standard of a brand new boat.

Article continues below…

When they purchased her in 2022 she was already 18 years old so a number of the systems desperately needed updating, along with many of the fixtures and fittings.

This was all factored into their original purchase and refit budget of around $3 million. A year down the line, she looks fantastic. With her clipper bow, sharp raked glasshouse and swooping lines, Kefi is classic Sunseeker through and through. In fact, at the time of our visit she was still only halfway through a two-year $600,000 refit plan.

Stepping onboard, Scott points out the freshly restored teak on the bathing platform. Progressing through the saloon doors reveals an entirely new composite wood sole in a light maple colour. The original solid walnut floor had bowed over time and looked rather dark and dated. Some of the woodwork at the rear of the saloon and wheelhouse had also faded and clouded due to sun damage and has now been replaced or re-veneered. Now it all looks, feels and smells like new.

Moving up to the wheelhouse, a very businesslike and modern glass bridge helm now takes pride of place. “We updated the entire navigation suite,” explains Captain Dan. “Only the NAVTEX weather warning system is legacy”.

An appealing cruising itinerary is almost as vital as a well presented boat. Photo: Elliott Maurice and Kefi Charters

It’s the same story up on the flybridge. The navigation gear is all brand new and the original flybridge teak decking has been replaced with artificial teak to better withstand the humidity and sunlight of the tropics. All the lighting has also been replaced with LEDs to reduce the load and bulb replacement costs – there are more than 150 downlights alone.

Moving down to the accommodation deck, Scott explains that the reason they chose the Sunseeker 105 was because it’s a four-stateroom boat with two full-beam guest suites, both of which are almost comparable in size with the owner’s suite on the main deck. “The only notable difference is the jacuzzi bath in the owner’s suite and a slightly better, more elevated view.”

All four cabins have sizable ensuite heads and the port and starboard have two generous single berths with an infill to create a king-size berth. The 105 also has an unusually large crew cabin. “A well accommodated, happy crew is as important as the guests’ comfort on a charter yacht,” explains Scott.

Photo: Elliott Maurice and Kefi Charters

Location, location, location

Kefi ’s schedule is certainly a busy one. She spends six months chartering in the Bahamas each winter, two months in the yard being fettled, and then four months in Rhode Island over summer.

“This is done for several reasons,” explains Scott. “Firstly, it avoids the hurricane season, reducing the insurance premium from $70,000 to just over $30,000 per year. Also, high season in Rhode Island is June to September and high season in the Bahamas is November to April, so we optimise our charter rate by moving between the two”.

The next part of the equation is maximising the guest experience. “I think of the yacht as a substantial villa, complete with a speed boat, watersports toys and staff so it’s vital to make sure all those elements are first rate.”

The famous swimming pigs of the Exumas make a popular excursion for charter guests. Photo: Elliott Maurice and Kefi Charters

The yacht’s purchase inventory included a 27ft Sea Hunt tender and two jet skis to which Scott has recently added a pair of new Sea Bobs and charging racks.

The weekly charter rate for all this comes to $65,000 including an agreed fuel allowance but not food, drink, docking fees, local taxes or crew tips. “Most of these costs are met by the charter guests,” explains Captain Richard. “A party wanting to drink vintage Dom Perignon and eat caviar and lobster will require a very different budget to those eating burgers and drinking Bud.”

It’s the same story with the cruising itinerary. “We can usually create an itinerary that perfectly suits the client’s wishes without exceeding the fuel allowance,” assures the Captain.

Counting the cost of owning a superyacht

During 2022 Kefi was chartered for a total of 18 weeks, bringing in a revenue of $1,170,000. Offsetting this against the annual running costs of $1,149,100 actually resulted in a small profit of $20,900.

If they can increase the number of weeks chartered from 18 to 20 weeks, the sums will look even better. Clearly, this does not account for the capital outlay to buy Kefi or the annual refit costs ($177,000 in 2022 and $174,000 in 2023), but since an annual depreciation allowance as well as the maintenance and upgrade costs can be set against the revenue, this can also prove quite a tax-efficient way of running a boat.

However, Scott is very clear that buying a yacht with charter revenue attached is by no means a foolproof business model. The risks involved are simply too substantial. If the charters drop off or something major goes wrong with the boat, the financial picture would look very different.

So far, though, buying Kefi has worked out well for them, with personal costs restricted only to the time they spend on board. So well in fact that they are now considering upgrading to a bigger yacht.

“We are looking at a 2012 Sunseeker 111. Being a five-cabin yacht, this can demand over $75,000 per week in charter fees,” Scott tells me. So has it all been worth it? “Absolutely. It is the stuff of dreams, creating memories, it’s incredible”.

Your chance to win the holiday of a lifetime in the British Virgin Islands

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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

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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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.

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

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How much does a new build superyacht cost?

The average cost of a superyacht has shifted little in 10 years. And as Nic Robinson finds out, some size categories show more consistency than others.

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How Much Does a Yacht Cost to Build?

The cost to build the world's largest superyachts is a closely guarded secret.

By Kim Ayling

The freedom that comes with owning your own yacht is unrivaled and, if you have the funds to do so, the joy of building your own is even better. However, with prices easily creeping up into the hundreds of millions, and even billions, we ask the all-important question: how much does a yacht cost to build?

Unsurprisingly, the total cost to build the world’s most famous yachts is a closely guarded secret, but there are a few fairly reliable estimations sailing around the industry. One standard way to work out how much a yacht will cost to build is price per gross weight. However, while this can be a helpful guide in valuing yachts, it doesn’t always correlate.

For example, it is thought that Lurssen’s 590-ft Azzam , which features a bulletproof owner’s cabin, an onboard golf practice suite and a submarine, cost in the region of $600m to build. At approximately 13,136 gross tons (GT), that would have made her around $45,676 per GT.

REV , on the other hand, which while still in construction is set to surpass Azzam as the largest yacht in the world at an impressive 602ft, is estimated to be costing around $350m to build. Her weight is thought to be around 17,440 GT, putting her at $20,069 per GT. Clearly, biggest doesn’t always mean most expensive. So what does affect the cost of a yacht build?

[See also: How Much Does it Cost to Charter a Yacht?]

REV is thought to be costing around $350m / ©REV Ocean

Custom vs pre-designed yachts

Firstly, you need to decide the kind of yacht you want: custom or pre-design. Naturally, a custom yacht build will be more expensive. But, for that extra cost, you will get full control over the design, the finish and everything in between.

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A pre-designed yacht on the other hand will save you both money and time. This category of yacht is built based on an existing model, with finishing touches such as interiors, tenders and layout completed when she’s bought. Obviously, this leaves owners with a lot less freedom over their yacht, but it is considerably cheaper and can be delivered in a matter of months instead of years.

Choosing a yacht builder

The world of shipbuilding is dominated by a few key players. For a fully custom build, the likes of Lurssen, Feadship, Oceanco and Royal Huisman (among several others) rule the roost. With builders like this, you can expect to pay a higher price, but for that, you’ll receive years of experience, industry prestige, and cutting-edge technology and techniques.

The most prestigious shipyards will also inevitably have the most skilled team. The team involved in building a yacht is, to put it simply, vast. From start to finish, hundreds of pairs of hands will be involved in the process, with the key players including a yacht designer (interior and exterior), a naval architect and an engineer, as well as a huge team of skilled laborers. There will also be an owner representative working closely with the shipbuilder to ensure the project is delivered in time and to the buyer’s exacting standards.

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The cost of your yacht build will of course include the wages of each of the experienced people involved in making it, so if you want the best, expect to pay for it.

[See also: Discovering the World’s Most Exciting Superyacht Concepts]

Viva by Dutch shipyard Feadship / ©Feadship

What affects the cost of building a yacht?

Naturally, a huge variety of factors will impact the total cost of building a yacht. Size is of course one of the main considerations, but materials are another key factor that will dramatically impact cost. Aluminum, for example, is favored for being an impressively lightweight hull material but ton for ton, it is far more expensive than steel.

Onboard technology will also see the final cost creep up rapidly. Demand for smart yacht technology, for example, is continuing to grow, with more owners wanting to replicate the ease of voice control tools that they enjoy in their home, onboard their yacht.

And things that we might take for granted on land such as high-speed WiFi become more complicated – and more expensive – on the water. Kitting your yacht out with a satellite dish can set you back anywhere up to $50,000 which while doesn’t sound much in the grand scheme of a multi-million-dollar ship build, is just one of many hidden costs.

How much do yacht toys and tenders cost?

The yacht itself is just the start of the story when it comes to working out costs. On top of the build, potential owners will need to kit out their boat with all the latest toys and tenders – from submarines to helicopters – which can add a serious amount to your total.

For example, a self-drive submersible by Triton Submarines , which will allow owners to see the underwater world in a completely new way, will start at around $15m. Similarly, while you can pick up a low-grade, second-hand tender for a few thousand dollars, a top-of-the-range option will easily creep into the millions.

Ultimately, the only way to work out exactly how much a yacht will cost to build is to make a serious inquiry with a broker, who will be able to connect you with a yacht builder. From here, you can collaboratively work together to ascertain your budget and exactly how much your perfect yacht will cost.

[See also: The Most Innovative Yachts of the 21st Century]

Oceanco, who made the sleek Esquel, is one of the best yacht builders in the world / ©Oceanco

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

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

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

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

Initial Cost Of A Superyacht: ~ $10 Million

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

Registering Your Yacht: ~ $2,500

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

Insurance: ~ $353,850

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

Dockage: – $942,000 (Purchase)

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

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

Fuel: ~ $472,000

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

Maintenance & Repairs: ~ $400,000

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

Crew: ~ $876,000

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

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

Total: ~ $13 million

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

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

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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.

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"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 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.

Average Yacht Prices | 40, 50, 60, 70, 100 feet + Helpful Examples

How much do yachts cost? Let’s look at yacht prices per size.

SELECT SIZE ⇩

Note: We will look at yachts that are a few years old. Very few people buy brand-new yachts as the price comes down a lot after only a few years.

How much is a small yacht? Let’s start at 40 feet length.

40 Foot Yacht Cost

A 40-foot yacht can be found used for around $200,000 and new models can cost as much as a million dollars. There are always lots of used yachts for sale around 40 feet in length, which makes them more attractive to first-time buyers.

Technically, a yacht begins at 23 feet. However, yachts that size will more often be referred to as boats.

A 40-foot yacht is a great option for looking for relative simplicity and plenty of comfort and capability. This size is great for day trips in the Caribbean dedicated to speed boating or simple cruising.

The size remains manageable, but the vessel can be updated with extra living spaces and amenities as desired, with a more affordable price than larger options.

The maintenance prices will remain lower as well.

Make sure you are considering the age of your yacht. Even if it is on the smaller end, it will be more expensive if it is new and custom-built to your wants.

Even if you think a 40-foot yacht is the cheapest option, these small factors make for a sliding price scale.

You might find that a smaller, new, custom yacht is more expensive than an older, simpler, larger yacht. One benefit of an older yacht is that it should have the improvements and equipment that make it comfortable to operate and will not have those additional costs.

For  sailboat prices specifically, check out this article .

Our Pick: Viking 42 Convertible: Cruise and Fish (2014)

Price: $895,000

• Cushioned seats
• Underwater lights
• Flybridge fiberglass hard-top
• Recent engine and service
• Joystick control
• Cockpit shade with poles, freezer, and step-up box
• Custom chairs
• Coach roof overhang to provide shade
• home theater setup
• Freshwater wash area
• Cockpit freezer and drink box
• Forward-facing viewing windows in deckhouse

Here’s a great example of a yacht with differing ages and year models. It has twin diesel engines, 600 hp each, and cruise at 35 mph (pretty fast!).

Yacht Price Examples for Three Other 40-50 Foot

• 42-foot Grand Banks 42 Classic; trawler-cruiser style yacht; twin diesel, 350 hp each, cruising speed is 13 mph. Price: $370,000 for 2004; $124,500 for 1986; older ones for less
• 45-foot Sea Ray 450 Sundancer or Sedan Bridge; single or twin diesel, about 1,000 hp total; cruising speed about 26 mph Price: $472,000 for 2012 twin-engine
• 41-foot Back Cove Downeast; single diesel 715 hp; cruising speed is 26 mph Price: $619,000 for 2016

50 Foot Yacht Cost

50-foot yachts are  normally owner-operated, so you wouldn’t need to pay for a crew. Now we are around the size of 2-bedroom yachts.

They can provide more living space giving the owner flexibility for more guests and making it a more permanent residential option. With more space comes the opportunity to install more amenities as well.

The biggest difference between the 40-foot vessel and the 50-foot is the accommodations.

Expect three-cabin layouts, which give plenty of space for rest. The opportunity to create guest rooms, owners’ suite, and entertainment spaces are better with these yachts.

Our Pick: Hatteras GT54 Convertible Sportfish

The price for the 2017 model of this used yacht starts at $2,249,000. 

This yacht is 53′ 10″ long and weighs 75,000 pounds! It has twin diesel engines, 1,300 hp each, cruising speed of 35 mph.

It has a 1200-gallon fuel capacity with three staterooms. It sleeps up to 6 people, so it is perfect for entertaining without being so large to the point where maintenance becomes very difficult. It is known for its great propulsion rates and is very smooth and agile.

It specializes as a fishing boat but allows plenty of room for guests. In addition to the three staterooms, it has a large salon deck, a spacious galley, and plenty of indoor and outdoor seating.

Yacht Price Examples for Two Other 50 Foot

• 51-foot Azimut Magellano 50; express cruiser; twin diesel engines, 425 hp each, cruising speed 16 mph Price: $670,760 for 2013
• 52-foot Carver C52 Command Bridge; twin diesel engines, 600 hp each; cruising speed 18- 26 mph Price: $1,149,000 for 2017; $1,750,00 for 2021 with bow thrusters, gyro-stabilizer

How much is a large yacht? Let’s  step up to 60 foot.

60 Foot Yacht Cost

Now we’re looking at 2-bedroom yacht prices. A yacht in this range approaches the upper end of the owner/operator criteria.

This means that owners need to decide whether they can handle this size yacht on their own or if they need to hire outside help from a crew.

If you’re thinking of buying a boat this size, the cost may not be an issue, but understand that adding crew members adds substantial extra expenses! Crew salaries start at around $3K /mth for junior members and $10K for captains and experienced crew members.

This size is great for longer travels beyond day trips and adds more and more space for extra amenities. Hosting guests becomes easier.

Here are some examples:

Our Pick: Hatteras M60

The average base price for this model is around $2,995,000.

The Hatteras M60 is great for someone who wants the luxury of a larger yacht but still wants to be an owner-operator. The deck’s layout below and above is spacious, with a large salon and a full master suite. It can be customized to order with hardwood floors or specific carpeting and amenities like TVs, a bar, a full kitchen, etc. It is a motor yacht, meant for pleasure cruising.

It has twin diesel engines, 1135 hp each; cruising speed is 28 mph.

Yacht Price Examples for Two Other 60 Foot

• 64-foot Schaefer 640; express cruiser; twin diesel engines, 625 hp each; cruising speed 25 mph Price: $1,299,000 for 2017
• 60-foot Sunreef 62 Sailing Catamaran; twin diesel engines 110 hp each; cruising speed 10 mph Price: $990,000 for 2009

70 Foot Yacht Cost

We’re now looking at 3-bedroom yachts. Once you reach this size yacht, it is almost guaranteed you will need a crew to help operate it. A crewed yacht is very different from an owner-operated yacht.

This is just shy of the superyacht category, so if you settle on this size, know you are almost there!

As previously mentioned, as the yacht size gets larger, so do the number of factors that make the purchase more layered and complex.

When yachts reach this size, the interior layout begins to change more drastically. They often have a spacious main deck perfect for dining and entertaining guests, whereas below, the yacht would likely have four or more cabins and crew quarters.

With more rooms comes more cost and more opportunity to customize the space to make it your own.

Here are some great options for this size:

Our Pick: Hatteras GT70 Convertible Sportfish

The 2017 GT70 model runs around $4,500,000, but keep in mind the extra costs of maintenance, furnishing, and a cabin crew to help it run. It’s great for a long vacation and far-away destinations.

The GT70 convertible sportfish is known for its speed and agility, and high propulsion power. It has twin diesel engines, 1900 hp each; cruising speed over 30 mph.

It is 70′ 6″ with 2,140-gallon fuel capacity. The inside is lavish, with a galley, a huge salon, and five staterooms.

Yacht Price Examples for Two Other 70 Foot

• 75-foot Hatteras Motor Yacht; sport cruiser; twin diesel, 1800 hp each; cruising speed 28 mph. Price: $4,375,000 for 2017
• 74-foot Ocean Alexander Motoryacht; twin diesel, 1150 hp each; cruising speed 24 mph. Price: $1,895,000 for 2011

100 Foot Yacht Costs (and up):

You are officially in the superyacht range.

These yachts come in all styles and shapes, allowing for cruising along coastlines or focusing on watercraft and speed boating.

Since this is likely the peak size boat for practical use, you can expect a lot of additional costs for hiring a crew, maintenance, docking, as well as stocking your boat full of amenities. 

You’re likely to spend the bulk of your costs furnishing this size boat as bigger yachts typically are sold without furniture. The previous owner will want to hold on to designer furniture and other expensive interior.

Check out these great  examples of 100-foot yachts .

Our Pick: 143′ 04″ Virtus 44

This model cost around $20,189,000.

This mega yacht is anyone’s dream.

It is home to a fully integrated beach club with room for a pool deck, floor-to-ceiling windows in the main salon, a hot tub on the top deck, five staterooms, an 8-person crew, and room to sleep ten guests.

It has room for water toys and other gadgets, with a layout that keeps them purposefully hidden from the outside world. It has a 12-knot cruising speed and 16-knot max speed,

Other 100+ Feet Yachts Price Examples

• 98′ 5″ AB 100 Price: $8,843,260 for 2018
• 161′ 04″ Acico Nassima Price: $17,933,000 for 2012

How Much is Yacht Insurance?

Insurance on a yacht is around 1% of the purchase price per year. It can go higher if you have lots of expensive designer furniture. This can add up over the years. It’s often cheaper to insure a sailing yacht but the price range is still within the 0.7-1.3%.

What Other Expenses Do Yacht Owners Face?

Harbor fees is another expense for yacht owners. It’s also a yearly fee that varies but as a rule of thumb, you can expect to pay around $100 per foot per year, depending on how popular the marina is. You will also have to be on a waitlist if you want a good location.

How Much Does a Luxury Yacht Cost?

A super yacht fall under the category of “luxury yachts” or “mega-yachts”.

The world’s largest private vessel belongs to the Prime Minister of the United Arab Emirates, Khalifa bin Zayed Al Nahyan’s Azzam. It is 590 feet long and costs $600 million to build!

It is outliers like these that increase the price average for yacht owners, perhaps scaring potential owners when they start their research.

As a luxury yacht price guide, however, we need to look at averages.

Currently, the average superyacht costs $275 million. This does not even account for maintenance costs, either.

Superyachts are large and luxurious, needing a professional crew to help them run. They are designed to emphasize comfort, speed, and longer expeditions – depending on the yacht builders.

They might have:

• swimming pools,
• water toys,
• diving and fishing poles,
• fully furnished rooms,
• helicopter landing pads,
• and smaller support vessels

Just to name a few amenities. They are truly the epitome of the elite.

What Size Boat is Considered a Yacht?

The normal yacht length starts at around 23 feet, and can extend hundreds of feet.  If the boat meets 23 feet, it can be considered a yacht.

A boat does not need luxury features to be considered a yacht.

It can be minimal and stripped of the “extra” stuff to fall into the yacht category, so long as it meets the size and length criteria.

11 Things to Consider Before You Purchase

When making this purchase, the yacht size you buy needs to reflect what you hope to get out of the vessel.

Some important questions to ask yourself before you buy are:

• What does your perfect day on the water look like?
• How long will your average day on the water be?
• Will it be more boating/watercraft focused or long cruise focused?
• Will you use the yacht for fishing?
• Will you be on the yacht every day of the week or just on weekends?
• How many people do you hope to fit on the yacht?
• Do you plan to stay on the yacht overnight?
• Where will you dock the yacht?
• How much boating experience do you have?
• How fast do you want the yacht to go?
• How important is it to have extra amenities like furnished rooms, water toys, electronics, etc.?

These questions will guide you to understand the size you really need and will be able to realistically maintain versus what your most ideal yacht would look like.

When Do You Need a Full-Time Crew?

At length over 50 or 60 feet, you may need a full-time captain or crew. 

A full-time crew person will be needed to keep all the varnished woodwork looking good and all the little things maintained.

Sometimes, you must be honest with yourself about what you want and what you actually need. Be self-aware about your abilities (or lack thereof) in taking care of a specific size yacht.

If you don’t know much about boats and navigation, you will need more help to use your vessel.

Hopefully, this comprehensive guide gives you a good starting point as you begin your yacht price research process.

Important Things to Consider As Well

Although there are many factors to consider when understanding a yacht’s prices, it is an exciting purchase nonetheless and should be enjoyed as much as possible.

At the end of your research, you’ll be the owner of a beautiful yacht you can use for leisure, cruising, sports craft, fishing, or all of the above.

Although this article is a good starting point, we would also recommend getting in touch with a  yacht broker who can help you find your best fit , model, year, and the price is given your personal budget. 

They are great sources of knowledge in addition to personal research.

Make sure you are as patient as possible in this process to make sure you are covering all your bases, but most importantly, enjoy the process!

Here’s How Much Yachts Cost on Average:

Yachts start around $300,000 for smaller 40-foot models and can go as high as several hundred million dollars for superyachts.

These are the main contributing factors to the price of a yacht:

• The size of the yacht
• The age of the yacht
• The brand and  type of yacht

In general, the larger the yacht is, the more important the quality of the build becomes.

Also, potential owners need to understand the cruising speed and propulsion of different yachts.

The yacht type is also broken down into two categories:

• Mediterranean Style Open style expresses yacht with maximum space for sun, little-to-no shade on the deck.
• Hard-top express Semi-enclosed or fully-enclosed space on deck for the operator
• Flybridge yachts

An express yacht is often referred to interchangeably as an  express cruiser  or  sports cruiser .

It has a single deck above the hull with a living space below.

They are much sleeker, too.

A flybridge yacht is often referred to as a sedan bridge or sport bridge, and it is typically used for fishing. It has additional space above the main deck.

Since the flybridge area has more space on the second deck, the main deck is normally made up of enclosed spaces and rooms.

It can have an open-air layout but can also have a hard-top.

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Mark Zuckerberg’s LaunchPad: Everything You Need To Know About The Meta Founder’s $300 Million Superyacht

Mark Zuckerberg might be the king of social media, but even he needs a break from the endless stream of notifications. LaunchPad , the Facebook founder’s latest indulgence — a staggering 387-foot superyacht is rumored to have cost a cool $300 million.

For a guy who’s made billions controlling the flow of information, it’s a bit ironic that he’s using LaunchPad to dodge the public eye. But hey, when you’re worth over $100 billion, I suppose a little irony is part of the package.

LaunchPad: A 387-Foot Feat Of Engineering

At 387 feet long, LaunchPad is an absolute giant, even among superyachts. Built by the iconic Dutch shipbuilder Feadship , it’s the second-largest yacht they’ve ever produced. The naval architecture was handled by De Voogt Naval Architects, a name that’s synonymous with precision and luxury on the high seas.

The sleek, modern exterior was designed by Espen Øino International, while the interior was crafted by Zuretti Interior Design. Although, true to Zuckerberg’s secretive style, very few details about the yacht’s interior have been made public.

What we do know, however, is that LaunchPad can host up to 24 guests in equally luxurious staterooms. With a sizable crew onboard, every inch of this yacht is dedicated to ensuring comfort, privacy, and exclusivity.

But LaunchPad isn’t just about lounging around in luxury. It’s equipped with four MTU engines, each producing 5,846 horsepower. That’s a jaw-dropping total of 23,384 horsepower, allowing the yacht to hit speeds of up to 24 knots (27.6 mph).

Meet Wingman: LaunchPad’s Trusty Sidekick

Wingman is the 220-foot support vessel that accompanies the megayacht wherever it goes. Built by Damen in 2014, Wingman is valued at $30 million and was recently refitted in 2020 to the tune of $5 million. This vessel is loaded with everything Zuckerberg could need for an epic adventure.

Wingman is equipped with a helipad, a fully functional dive center complete with a decompression chamber, and enough deck space to store all sorts of toys. Think Triton submarines, personal watercraft, luxury tenders – you name it.

Powered by four diesel MTU engines, Wingman can hit speeds of up to 21 knots and has an impressive cruising range of 8,700 nautical miles at 13.5 knots. Essentially, it’s a floating Swiss Army knife, ready for any adventure Zuckerberg dreams up, whether it’s exploring the deep sea or zipping between islands in complete anonymity.

Mark Zuckerberg Goes “Incognito” On The Water

Now, here’s where things get interesting. For a man who’s constantly under fire for how Facebook handles personal data, Zuckerberg seems to have mastered the art of disappearing when it suits him.

Recently, LaunchPad and its companion vessel, Wingman, turned off their AIS (Automatic Identification System) transponders, effectively making the yachts invisible to tracking systems. This is called “ going dark ” in maritime terms, and while it’s completely legal, it does raise a few eyebrows given Zuckerberg’s business dealings.

This article first appeared on FirstCuriosity and was syndicated with permission.

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NFL Billionaire's Superyacht Up For Charter, Here's How Much It'll Cost You

Zinger key points.

• Shahid Khan's ultra-luxurious superyacht Kismet hits the charter market with a weekly price tag of $3 million.
• Experience the pinnacle of opulence with a 122-meter vessel boasting a spa, basketball court, and three pools.

Billionaire NFL owner Shahid Khan has made his superyacht available for charter, offering a unique opportunity for those willing to shell out a cool $3 million a week.

What Happened : The superyacht, christened Kismet , is the property of Khan, the owner of the NFL’s Jacksonville Jaguars . The yacht is all set to make its first appearance at the Monaco Yacht Show later this month. Khan, who boasts a net worth of $13.3 billion as per Forbes, has officially put his new yacht up for charter.

The 122-meter luxury vessel is designed to accommodate up to 12 guests, with a crew of 36 at their disposal. It features a Balinese-inspired spa, a gym, a basketball court, and a pickleball court among other amenities.

According to the report by Business Insider, The yacht also includes three pools, four bars, an outdoor cinema, a DJ booth, and a grand piano.

Khan’s former superyacht, also named Kismet, was purchased by ex-Google CEO Eric Schmidt last year. The new Kismet, constructed by German shipyard Lürssen, is the largest yacht to be showcased at the Monaco Yacht Show.

Also Read: A Retiree Was Planning To Pay $1 Million To Live On A Luxury Cruise Ship — Until He Changed His Mind: ‘Is This Going To Happen In My Lifetime?’

“The yacht has exceeded all expectations of the client for whom we have built his third yacht in total,” said Peter Lürssen , a managing partner at Lürssen.

While the charter fee may appear steep, additional expenses such as provisions, gratuities, and taxes can inflate the total cost of a week aboard the Kismet to a staggering $5.4 million.

Why It Matters : This move by Khan signifies a growing trend among billionaires to monetize their luxury assets. It also highlights the increasing demand for ultra-luxury experiences among the super-rich, who are willing to pay premium prices for exclusive experiences.

The charter of Kismet also underscores the popularity of superyachts as a symbol of opulence and status among the world’s wealthiest individuals.

The fact that Khan’s previous yacht was bought by another high-profile billionaire, Eric Schmidt, further emphasizes this point.

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This content was partially produced with the help of  Benzinga Neuro  and was reviewed and published by Benzinga editors.

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• This New 161-Foot Explorer Yacht Offers 6 Days of Autonomy at Sea

Leapher's new NAVIX50 can also cruise for 5,500 nautical miles at 10 knots.

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“The NAVIX50 embodies our philosophy of creating vessels that excel in any environment,” Leapher CEO Yiannis Andriotis said in a statement. “From the Drake Passage to the coast of St. Tropez, this yacht redefines what’s possible in the sub-500GT category.”

The spacious interior includes six generous cabins, with the option for a seventh cabin or expanded skylounge. The guest cabin on the main deck can also be turned into a gym, wellness area, or an expanded owner’s suite. All guest cabins are equipped with king-size beds, while the owner’s suite is fitted with a plush super king-size bed. The yacht is also home to six crew cabins that can sleep up to 11.

The exterior decks are replete with alfresco dining areas, lounges, and sunbeds. The aft deck is arguably the standout, with two folding terraces, a large, 18-foot pool, a sprawling sunbathing area, a swim platform, and not one but two wet bars. At the opposite end, the foredeck doubles as a garage for two tenders.

“It [the NAVIX50] offers unparalleled versatility and luxury while maintaining an attractive value proposition for seasoned owners,” added Andriotis.

Leapher operates on a site formerly owned by cruise ship producer De Hoop that closed at the height of the pandemic. The yard is set to deliver the first NAVIX60 later this month. Christened Horizon, the 198-foot explorer will be on display at the Monaco Yacht Show from September 25 to 28.

Rachel Cormack is a digital editor at Robb Report. She cut her teeth writing for HuffPost, Concrete Playground, and several other online publications in Australia, before moving to New York at the…

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A billionaire NFL owner's superyacht is now available for charter. It'll cost you.

NFL owner Shahid Khan's superyacht Kismet is available for charter at $3 million a week.

Kismet, which will debut at the Monaco Yacht Show, features luxury amenities and can host 12 guests.

Added costs for provisions, gratuities, and taxes can raise the weekly charter cost to $5.4 million.

Want to vacation like a billionaire? You can — for $3 million a week.

The superyacht belonging to Shahid Khan, the owner of the NFL's Jacksonville Jaguars who is worth $13.3 billion, according to Forbes, is officially available for charter.

Kismet, Khan's new yacht, will make her debut at the Monaco Yacht Show later this month.

The 122-meter yacht can accommodate up to 12 guests — and a crew of 36 available to serve them — and, like any superyacht worth its weight, has some special amenities .

A "Balinese-inspired" spa features a hammam, sauna, and cryotherapy chamber, as well as a massage table and chromotherapy bathtub offering some sort of color-related treatment. For more active wellness, there's a gym, basketball court, and pickleball court.

There are three pools — two are jacuzzis — spread over six decks, four outdoor showers, four bars, four fireplaces, two fire pits, and one helipad. For your viewing pleasure, there is an outdoor cinema, and for your listening pleasure, a DJ booth and grand piano.

And because billionaires love to play, there is a suite of water toys aboard, including Jet Skis, SeaBobs, e-foils, and WaveRunners.

Khan is a committed superyacht owner. His previous superyacht, also named Kismet, was purchased by former Google CEO Eric Schmidt last year. While its final sales price was not disclosed, it was listed for about $160 million. Renamed Whisper, the yacht was built by the same German shipyard as the new Kismet, Lürssen, and measured 95 meters.

"The yacht has exceeded all expectations of the client for whom we have built his third yacht in total," Peter Lürssen, a managing partner at Lürssen, said in a statement about the newest Kismet.

Kismet is the largest yacht on display at the Monaco Yacht Show, which will feature 120 superyachts . Renaissance, the second largest at 112 meters, charters for the same weekly price of $3 million.

While the nine-figure sales prices of these yachts make their seven-figure charter rates seem like a bargain, renting out a superyacht is not for the faint of wallet. In addition to the charter fee, there are costs associated with provisions which can come to as much as 40% of the fee; gratuities, as much as 20% of the fee; and taxes, also as much as 20%. That means a week aboard the Kismet can actually cost as much as $5.4 million.

Read the original article on Business Insider

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Inside the shocking Sicily yacht tragedy that left 7 people dead

There was a violent storm, but even then, luxury yachts are built to weather such events. so why did this boat sink off the coast of sicily, leaving seven people dead, by natalie finn | e news • published august 24, 2024 • updated on august 24, 2024 at 9:34 am.

Originally appeared on E! Online

Nobody was trying to reach the lowest depths of the ocean or otherwise test the boundaries of human endurance .

📺 24/7 Chicago news stream: Watch NBC 5 free wherever you are

But what was supposed to be a routine pleasure cruise aboard a superyacht turned deadly all the same on the morning of Aug. 19 when the 184-foot Bayesian got caught in a storm and sank off the coast of Sicily .

"I can't remember the last time I read about a vessel going down quickly like that," Stephen Richter of SAR Marine Consulting told NBC News . "You know, completely capsizing and going down that quickly, a vessel of that nature, a yacht of that size."

Of the 22 people onboard, including crew, seven people died. The last of the bodies was recovered Aug. 23, an expectedly sad coda to what had already been a tragic week as the search for answers as to how this happened got underway.

And to be sure, every minute of the Bayesian's ill-fated outing is being fiercely scrutinized, starting with the general seaworthiness of the vessel itself.

Because, frankly, this was a freak occurrence.

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"Boats of this size, they’re taking passengers on an excursion or a holiday," Richter explained. "They are not going to put them in situations where it may be dangerous or it may be uncomfortable, so this storm that popped up was obviously an anomaly. These vessels that carry passengers, they’re typically very well-maintained, very well-appointed."

But in this case, a $40 million yacht sank, seven people are dead—including a billionaire tech mogul and his 18-year-old daughter—and morbid fascination doesn't need a second wind.

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Here is how the story of the Sicily yacht tragedy has unfolded so far:

What happened to the yacht that sank off the coast of Sicily?

The Bayesian had set off from the Sicilian port of Milazzo on Aug. 14 at capacity with 12 guests and 10 crewmembers aboard.

The aluminum-hulled vessel was built in 2008 by Italian shipbuilder Perini Navi and registered in the U.K. Cruise sites listed it as available for charter at $215,000 per week, per the Associated Press.

On the morning of Aug. 19, the superyacht was anchored off the coast of Porticello, a small fishing village in the Sicilian province of Palermo (also the name of Sicily's capital city), when a violent storm hit.

The vessel "suddenly sank" at around 5 a.m. local time, seemingly due to "the terrible weather conditions," the City Council of Bagheria announced shortly afterward, per NBC News .

At the time, only one person was confirmed dead—the ship's chef—but six others were said to be missing. The 15 survivors—who managed to make it onto an inflatable life boat, according to emergency officials—were rescued that morning by the crew of another yacht that had been nearby when the storm hit.

"Fifteen people inside," Karsten Borner, the Dutch captain of the ship that was able to help (the Sir Robert Baden Powell), told reporters afterward, per Reuters. "Four people were injured, three heavily injured, and we brought them to our ship. Then we communicated with the coast guard, and after some time, the coast guard came and later picked up injured people."

When the storm hit, his boat ran into "a strong hurricane gust," Borner said, "and we had to start the engine to keep the ship in an angled position."

They "managed to keep the ship in position," he continued, but once the storm died down, they realized the other boat that had been behind them—the Bayesian—was gone.

The wreck ended up settling 165 feet below the surface, according to Italy's national fire department.

Fire officials said that divers, a motorboat and a helicopter were deployed to search for the missing.

Meanwhile, footage was captured of the ship capsizing on closed-circuit TV about a half-mile away from where it was anchored.

In the video obtained by NBC News, the illuminated 250-foot aluminum mast of the ship appears to list severely to one side before disappearing completely. Survivors recalled having just a few minutes to literally abandon ship.

Who were the seven people who died when the yacht Bayesian sank?

The tragedy initially became headline news because billionaire tech mogul Mike Lynch—"Britain's Bill Gates," some U.K. media called him—was among the missing. His body was ultimately recovered Aug. 22 .

"They told me that suddenly they found themselves catapulted into the water without even understanding how they had got there," Dr. Fabio Genco, head of the Palermo Emergency Medical Services, told NBC News Aug. 22. "And that the whole thing seems to have lasted from 3 to 5 minutes."

Genco said he got to Porticello about an hour after the Bayesian capsized.

Survivors "told me that it was all dark, that the yacht hoisted itself up and then went down," he said. "All the objects were falling on them. That’s why I immediately made sure, by asking them questions, if they had any internal injuries."

Why did the yacht sink?

Italian prosecutors are investigating to determine what transpired before the boat went down, according to NBC News.

Meanwhile, the CEO of shipbuilder Perini's parent company The Italian Sea Group defended the vessel itself as "unsinkable."

Perini boats "are the safest in the most absolute sense," Giovanni Costantino told Sky News Aug. 22 . What happened to the Bayesian "put me in a state of sadness on one side and of disbelief on the other," he continued. "This incident sounds like an unbelievable story, both technically and as a fact."

Costantino said it had to have been human error that led to the boat sinking, declaring, "Mistakes were made."

"Everything that was done reveals a very long summation of errors," he told newspaper Corriere della Sera Aug. 21, in an interview translated from Italian. "The people should not have been in the cabins, the boat should not have been at anchor."

The weather was "all predictable," he continued, adding that the storm "was fully legible in all the weather charts. It couldn't have been ignored."

The yacht's captain, identified as James Cutfield of New Zealand, was taken to Termini Imerese hospital for treatment. From there, he told La Repubblica, per Sky News , that he didn't see the storm coming.

Borner, the captain of the ship that rescued the 15 Bayesian survivors, told NBC News that he noticed the storm come in at 4 a.m. local time, and saw what looked to him like a waterspout, a type of tornado that forms above water.

The International Centre for Waterspout Research posted on X Aug. 19 that it had "confirmed 18 waterspouts today off the coasts of Italy. Some were powerful waterspouts, one of which may have been responsible for the sinking of a large yacht off of Sicily."

Borner said he didn't know why the Bayesian sank so quickly, guessing "it may have something to do with the mast, which was incredibly long." (A tall mast, even with its sails down, means there's more surface area exposed to wind, which can result in tipping.)

Confirming that one person was dead and six unaccounted for immediately following the wreck on Aug. 19, Salvo Cocina of Sicily's civil protection agency told reporters that a waterspout had struck the area overnight.

"They were in the wrong place at the wrong time," he said.

The 59-year-old founder of software firm Autonomy had been on the trip with his wife Angela Bacares and their 18-year-old, Oxford-bound daughter Hannah to celebrate his recent acquittal in the U.S. on fraud and conspiracy charges stemming from the $11.7 billion purchase of his company by Hewlett-Packard in 2011.

In a bizarre turn of events, Lynch's co-defendant at trial, Stephen Chamberlain, the former vice president of finance at Autonomy, died after being taken off life support following a road accident on Aug. 17. Chamberlain's attorney told Reuters Aug. 20 that his friend and client had been out for a run when he was "fatally struck" by a car.

Meanwhile, multiple people who contributed to Lynch's defense were on the cruise with him and his family.

The bodies of Morgan Stanley International Chairman Jonathan Bloomer—who testified on Lynch's behalf—and his wife Judy Bloomer, as well as lawyer Chris Morvillo, a partner at the U.S. firm Clifford Chance, and his wife Neda Morvillo, a jewelry designer, were recovered on Aug. 21 .

In a LinkedIn post thanking the team that successfully defended Lynch, Morvillo wrote, per Sky News , "And, finally, a huge thank you to my patient and incredible wife, Neda Morvillo, and my two strong, brilliant, and beautiful daughters, Sabrina Morvillo and Sophia Morvillo. None of this would have been possible without your love and support. I am so glad to be home. And they all lived happily ever after…"

The first casualty confirmed Aug. 19 was the ship's Canadian-Antiguan chef, later identified as Recaldo Thomas.

"He was a one-of-a-kind special human being," a friend of Thomas told The Independent . "Incredibly talented, contagious smile and laugh, an incredible voice with a deep love of the ocean and the moon. I spoke to him nearly every day. He loved his life his friends and his job."

Hannah's body was the last of the missing six to be found , with divers bringing her remains ashore on Aug. 23.

Lynch and Bacares, who was rescued, also shared a 21-year-old daughter, according to The Times.

While awaiting trial, Lynch—who maintained his innocence throughout the proceedings—had spent 13 months under house arrest in San Francisco. Back home in London afterward, he admitted to The Times in July that he'd been afraid of dying in prison if he'd been found guilty. (He faced a possible 25-year sentence.)

"It's bizarre, but now you have a second life," he reflected. "The question is, what do you want to do with it?"

(E!, NBC News and Sky News are all members of the Comcast family.)