I spent 3 years writing about yachts, and owning one takes way more money than you think – Finance

  • yacht costs much more than the price that the owner bought it.
  • There are additional costs, such as yacht crew, jetty, fuel and maintenance, which many people do not think about.
  • Even many yacht crews do not superyachts if they can afford it, because they have so much money and work,

If there is one thing that I took, having spent three years on yachting industry and participation in Monaco Yacht Show, this is the purchase of a superyacht – the absolute top of the indulgence for 1%.

You see, these sea hippopotami are much more expensive than the price they come with the support they require – it's a series of endless expenses. There is something I like to call the "Big Four", which is easily worn by the black crew of AmEx: the crew of the yacht, the dock, fuel and maintenance, among many other amazing costs.

Just ask the crew that works yachts.

Once I spent a whole day running up and down the docks at the International Boat Show in Fort Lauderdale, asking one team: "Would you buy a boat if you were rich? The answer, in the overwhelming majority, was negative. Those who said "yes" were new to the industry, I think they did not yet know the best.

Because, really, yachts are just floating money.

That's how it is really cost of ownership superyachts, which is usually defined as a boat with a length of at least 80 feet.

Typically, yachts over 100 feet long cost $ 1 million to 3.3 feet – and that does not mean the cost of maintenance.


Typically, yachts over 100 feet long cost $ 1 million to 3.3 feet - and that does not mean the cost of maintenance.
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Typically, yachts over 100 feet long cost $ 1 million to 3.3 feet – and that does not mean the cost of maintenance.

(Lucian BOLCA / Shutterstock)

A source: Forbes

Some models of old yachts of about 80 feet in length can be sold in six digits, but the superyacht is likely to return you at least a few million. An 84-foot yacht could cost $ 1.74 million, and a 295-foot yacht could cost $ 45 million.


Some models of old yachts of about 80 feet in length can be sold in six digits, but the superyacht is likely to return you at least a few million. An 84-foot yacht could cost $ 1.74 million, and a 295-foot yacht could cost $ 45 million.
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Some models of old yachts of about 80 feet in length can be sold in six digits, but the superyacht is likely to return you at least a few million. An 84-foot yacht could cost $ 1.74 million, and a 295-foot yacht could cost $ 45 million.

(R_Pilguj / Shutterstock)

A source: Fraser Yachts, a citizen

But this is only the beginning – the owners can expect to annually spend about 10% of the purchase price for the operation and maintenance of the yacht. It's $ 1 million a year for a $ 10 million superyacht, although it's changing.


But this is only the beginning - the owners can expect to annually spend about 10% of the purchase price for the operation and maintenance of the yacht. It's $ 1 million a year for a $ 10 million superyacht, although it's changing.
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But this is only the beginning – the owners can expect to annually spend about 10% of the purchase price for the operation and maintenance of the yacht. It's $ 1 million a year for a $ 10 million superyacht, although it's changing.

(Felix Mizioznikov / Shutterstock)

A source:Business insider

The bigger the boat, the more the crew – and the salaries – you need. A 130-foot boat with five crew members can cost 32,500 dollars a month. Depending on the size of the boat, the money on average is $ 3,083 to $ 3,574 per month. Captains are paid more, earning an average of 7,750 to 19,961 dollars a month.


The bigger the boat, the more the crew - and the salaries - you need. A 130-foot boat with five crew members can cost 32,500 dollars a month. Depending on the size of the boat, the money on average is $ 3,083 to $ 3,574 per month. Captains are paid more, earning an average of 7,750 to 19,961 dollars a month.
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The bigger the boat, the more the crew – and the salaries – you need. A 130-foot boat with five crew members can cost 32,500 dollars a month. Depending on the size of the boat, the money on average is $ 3,083 to $ 3,574 per month. Captains are paid more, earning an average of 7,750 to 19,961 dollars a month.

(MikeDotta / Shutterstock)

A source: Yacht Freedom Services, Dockwalk

Yachts in Florida Broward County, a hub for yachting, make up $ 3 billion annually in the form of wages and profits, said Kate Lardy of Sun Sentinel, referring to a survey of the Association of Marine Industry of South Florida. This does not mean that yachts are based on an international level.


Yachts in Florida Broward County, a hub for yachting, make up $ 3 billion annually in the form of wages and profits, said Kate Lardy of Sun Sentinel, referring to a survey of the Association of Marine Industry of South Florida. This does not mean that yachts are based on an international level.
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Yachts in Florida Broward County, a hub for yachting, make up $ 3 billion annually in the form of wages and profits, said Kate Lardy of Sun Sentinel, referring to a survey of the Association of Marine Industry of South Florida. This does not mean that yachts are based on an international level.

(Naphassaphorn Na Pankaew / Shutterstock)

A source: Sun Sentinel

And do not forget to pay for an employee who is temporarily hired for on-board services. The captain of the 178-foot yacht told Lardy that he spent $ 14,255 on day workers during the two-month visit of the yacht in Fort Lauderdale.


And do not forget to pay for an employee who is temporarily hired for on-board services. The captain of the 178-foot yacht told Lardy that he spent $ 14,255 on day workers during the two-month visit of the yacht in Fort Lauderdale.
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And do not forget to pay for an employee who is temporarily hired for on-board services. The captain of the 178-foot yacht told Lardy that he spent $ 14,255 on day workers during the two-month visit of the yacht in Fort Lauderdale.

(COLOMBO NICOLA / Shutterstock)

A source: Sun Sentinel

There are also other expenses for the crew, such as medical services and liability insurance, training and uniforms, the last of which the captain told Lardy that he spent 11,190 dollars in two months.


There are also other expenses for the crew, such as medical services and liability insurance, training and uniforms, the last of which the captain told Lardy that he spent 11,190 dollars in two months.
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There are also other expenses for the crew, such as medical services and liability insurance, training and uniforms, the last of which the captain told Lardy that he spent 11,190 dollars in two months.

(R_Pilguj / Shutterstock)

A source: Sun Sentinel

In a two-month period, the captain also spent $ 50,000 to prepare for the upcoming charter season, including a reward for the yacht wine cellar.


In a two-month period, the captain also spent $ 50,000 to prepare for the upcoming charter season, including a reward for the yacht wine cellar.
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In a two-month period, the captain also spent $ 50,000 to prepare for the upcoming charter season, including a reward for the yacht wine cellar.

(Christopher Fourlong / Getty Images)

A source: Sun Sentinel

When owners are not engaged in yachting in the Maldives or travel to the Seychelles, they need a place to dock the boat – and fuel to get there. The captain also told Lardy that he spent more than $ 100,000 on fuel and berth during a two-month visit.


When owners are not engaged in yachting in the Maldives or travel to the Seychelles, they need a place to dock the boat - and fuel to get there. The captain also told Lardy that he spent more than $ 100,000 on fuel and berth during a two-month visit.
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When owners are not engaged in yachting in the Maldives or travel to the Seychelles, they need a place to dock the boat – and fuel to get there. The captain also told Lardy that he spent more than $ 100,000 on fuel and berth during a two-month visit.

(Fiona Goodall / Getty Images)

A source: Sun Sentinel

Fuel and docking can become even more expensive during an event such as the Monaco Grand Prix.


Fuel and docking can become even more expensive during an event such as the Monaco Grand Prix.
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Fuel and docking can become even more expensive during an event such as the Monaco Grand Prix.

(Drozdin Vladimir / Shutterstock)

A source: Business insider

Fuel can cost about 400,000 dollars a year – and this is not only for boats, but also toys that go along with it, for example, Jet Skis.


Fuel can cost about 400,000 dollars a year - and this is not only for boats, but also toys that go along with it, for example, Jet Skis.
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Fuel can cost about 400,000 dollars a year – and this is not only for boats, but also toys that go along with it, for example, Jet Skis.

(Drozdin Vladimir / Shutterstock)

A source: Florida Yacht Management

The docking varies depending on how large the boat is and how much the jetty is desired. An 80-foot boat can run 1,200 dollars a month, and a large boat in a more desirable miss can cost up to $ 6,000 a month. The owner of a superyacht can expect to spend 350,000 dollars on dockage a year.


The docking varies depending on how large the boat is and how much the jetty is desired. An 80-foot boat can run 1,200 dollars a month, and a large boat in a more desirable miss can cost up to $ 6,000 a month. The owner of a superyacht can expect to spend 350,000 dollars on dockage a year.
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The docking varies depending on how large the boat is and how much the jetty is desired. An 80-foot boat can run 1,200 dollars a month, and a large boat in a more desirable miss can cost up to $ 6,000 a month. The owner of a superyacht can expect to spend 350,000 dollars on dockage a year.

(Dan Dennison / Shutterstock)

A source: Yacht Freedom Services, Florida Yacht Management

Like many things, yachts get weary – they require regular maintenance and repairs. Conventional maintenance may cost approximately 2% of the value of the boat after the first year of the yacht and about 7.5% of the value of the vessel when the yacht is 10 years old.


Like many things, yachts get weary - they require regular maintenance and repairs. Conventional maintenance may cost approximately 2% of the value of the boat after the first year of the yacht and about 7.5% of the value of the vessel when the yacht is 10 years old.
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Like many things, yachts get weary – they require regular maintenance and repairs. Conventional maintenance may cost approximately 2% of the value of the boat after the first year of the yacht and about 7.5% of the value of the vessel when the yacht is 10 years old.

(Jeff J Mitchell / Getty Images)

A source: Yacht Freedom Services

The captain of the 178-foot yacht takes the yacht to Fort Lauderdale twice a year, where she always gets a job. In a two-month period, he spent 142,746 dollars for repairs and maintenance, which, he said, Lardy "typical."


The captain of the 178-foot yacht takes the yacht to Fort Lauderdale twice a year, where she always gets a job. In a two-month period, he spent 142,746 dollars for repairs and maintenance, which, he said, Lardy "typical."
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The captain of the 178-foot yacht takes the yacht to Fort Lauderdale twice a year, where she always gets a job. In a two-month period, he spent 142,746 dollars for repairs and maintenance, which, he said, Lardy "typical."

(iMoved Studio / Shutterstock)

A source: Sun Sentinel

And regular maintenance does not include the cost of periodic repairs. One of the owners told Superyacht News that he had refitted his 98-foot yacht worth more than 1.1 million dollars.


And regular maintenance does not include the cost of periodic repairs. One of the owners told Superyacht News that he had refitted his 98-foot yacht worth more than 1.1 million dollars.
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And regular maintenance does not include the cost of periodic repairs. One of the owners told Superyacht News that he had refitted his 98-foot yacht worth more than 1.1 million dollars.

(Naphassaphorn Na Pankaew / Shutterstock)

A source: Super yacht news

There is also insurance, which can cost about $ 240,000 per year, according to a report by Towergate Insurance.


There is also insurance, which can cost about $ 240,000 per year, according to a report by Towergate Insurance.
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There is also insurance, which can cost about $ 240,000 per year, according to a report by Towergate Insurance.

(Francois Durant / Getty Images)

A source: Insurance Towers

And do not forget about other expenses, such as communication (for example, navigation and satellite TV) and administration (postal and office supplies, to name a few). The captain told Lardy that he spent more than $ 6,000 on administrative costs during a two-month stay.


And do not forget about other expenses, such as communication (for example, navigation and satellite TV) and administration (postal and office supplies, to name a few). The captain told Lardy that he spent more than $ 6,000 on administrative costs during a two-month stay.
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And do not forget about other expenses, such as communication (for example, navigation and satellite TV) and administration (postal and office supplies, to name a few). The captain told Lardy that he spent more than $ 6,000 on administrative costs during a two-month stay.

(R_Pilguj / Shutterstock)

A source: Sun Sentinel

Overall, he spent $ 643,164 during his time in Florida. This is nothing compared to the $ 1.5 million that he expected to spend on the next stay of a yacht in Fort Lauderdale, during which the yacht will conduct a state inspection.


Overall, he spent $ 643,164 during his time in Florida. This is nothing compared to the $ 1.5 million that he expected to spend on the next stay of a yacht in Fort Lauderdale, during which the yacht will conduct a state inspection.
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Overall, he spent $ 643,164 during his time in Florida. This is nothing compared to the $ 1.5 million that he expected to spend on the next stay of a yacht in Fort Lauderdale, during which the yacht will conduct a state inspection.

(Byvalet / Shutterstock)

A source: Sun Sentinel

All this does not take into account the cost of entertainment – the owners of superyachts like to throw parties, especially during events and boat shows. During the Cannes Film Festival, Paul Allen traditionally throws a party on his yacht "Octopus" with guests such as Kate Moss and Jake Gyllenhaal.


All this does not take into account the cost of entertainment - the owners of superyachts like to throw parties, especially during events and boat shows. During the Cannes Film Festival, Paul Allen traditionally throws a party on his yacht "Octopus" with guests such as Kate Moss and Jake Gyllenhaal.
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All this does not take into account the cost of entertainment – the owners of superyachts like to throw parties, especially during events and boat shows. During the Cannes Film Festival, Paul Allen traditionally throws a party on his yacht "Octopus" with guests such as Kate Moss and Jake Gyllenhaal.

(Sean Gallup / Getty Images)

A source: Boating International Media

With parties in superyachts, you can usually count on spending money on food (or hire a celebrity chef), alcohol, DJ and decor.


With parties in superyachts, you can usually count on spending money on food (or hire a celebrity chef), alcohol, DJ and decor.
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With parties in superyachts, you can usually count on spending money on food (or hire a celebrity chef), alcohol, DJ and decor.

(Michael Buckner / Getty Images)

A source: Boating International Media

Owners can recoup some of these costs by renting their yacht. 205-foot yacht with an annual operating budget of $ 3.5 million. The United States can charge $ 425,000 per week. The price may vary depending on the season and the size of the yacht and includes the costs of food and beverages, fuel, harbor and dock charges, and shipping fees.


Owners can recoup some of these costs by renting their yacht. 205-foot yacht with an annual operating budget of $ 3.5 million. The United States can charge $ 425,000 per week. The price may vary depending on the season and the size of the yacht and includes the costs of food and beverages, fuel, harbor and dock charges, and shipping fees.
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Owners can recoup some of these costs by renting their yacht. 205-foot yacht with an annual operating budget of $ 3.5 million. The United States can charge $ 425,000 per week. The price may vary depending on the season and the size of the yacht and includes the costs of food and beverages, fuel, harbor and dock charges, and shipping fees.

(Pixelrain / Shutterstock)

A source: Forbes, Международная лодка

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