See full version: How Much Does A Superyacht Really Cost
Captains report making anywhere from $70,000 a year on smaller vessels to $180,00 a year on larger vessels, while other members report significantly lower incomes. But considering the Azzam employs some 50 people, that's quite a payout. Smaller vessels, including the 88.12-meter Maltese Falcon and the 79.25-meter Venus reportedly employ between 18 and 22 people. The Al Said, owned by the Sultan of Oman, employs 154 crew members.
It's no secret that superyachts are, well, expensive. The world's largest private vessel, Khalifa bin Zayed Al Nahyan's Azzam, reaches an astounding 180 meters (590 feet) and cost $600 million to build. In fact, eight of the ten most expensive luxury acquisitions of all time fall under the superyacht category.
Lazzara 80 Alchemist (Photo D Ramey Logan/Wiki Commons) here
Gas prices may be decreasing on land, but it's a completely different story on the open water. A 71-meter yacht using 500 liters of diesel few per hour, which brings the annual gas costs to around $400,000.
And while a superyacht alone can cost tens -- or sometimes, as in the case of the Azzam, hundreds -- of millions of dollars, the annual upkeep costs can also reach into the seven figures, according to a report by Towergate Insurance. more
In 2013, 355 superyachts were sold, totaling $3.4 billion. Ten-percent of yacht purchases are paid in-full immediately, and owners typically own their vessels for no more than three years before flipping them.
What else does the report tell us about these impressive vessels? A lot about their owners, for one. Towergate found that of the nationalities of 125 owners it was able to identify, 14% were American, followed by Russians. But like most other luxury sectors, the biggest gains year-to-year were Asian owners, who purchased 11% of the superyachts delivered in 2014 as compared to just 3% in 2011.
Gas prices, general maintenance, taxes and crew salaries are typically the biggest sources of added expenditure for owners. Towergate estimates that annual dockage fees run for $350,000, insurance averages $240,000 and maintenance and repairs can be in the millions, as can crew salaries. Overall, the owner should expect to spend about 10% of the yacht's initial cost on annual upkeep. here
And price and length aren't the only features worth bragging about. Many come equipped with bomb-proof windows, motion sensors, biometric fingerprint entry and escape pods. Venus, owned by Steve Jobs’ family, has a large pane of special glass around the side to resemble an Apple store. The Eclipse, owned by Russian businessman Roman Abramovich, boasts two swimming pools and two helicopter pads, and a three-man "leisure" submarine.
So just how much does a superyacht cost? The reports finds that on average, a 100-meter superyacht with a top speed of 25 knots and 50 crew members should cost around $275 million. Considering the 30 largest superyachts are all longer than 100 meters, they can often cost significantly more. more
And while a superyacht alone can cost tens -- or sometimes, as in the case of the Azzam, hundreds -- of millions of dollars, the annual upkeep costs can also reach into the seven figures, according to a report by Towergate Insurance. more
Despite the potentially high cost of yacht ownership, it is still an excellent investment in your well-being and will bring countless joyful memories. There is no other recreation in the world that brings families and friends together, while enjoying the wonders of the ocean. [links]
A yacht can mean vastly different things to different people depending on their style of boating, where they live, what they plan to do on the boat, and the amount of equipment they choose. A 50-foot yacht can vary in price by several hundred thousand dollars depending on how new it is, its engines, brand, and amenities. Having a conversation about your needs and budget with a professional yacht broker can answer all of these questions and take the guesswork out of your search.
If you're new to owning a boat and want to experience the luxury lifestyle, buying a yacht is the perfect way to indulge yourself while also creating unforgettable memories on the water. From anchoring at a secluded island in the Caribbean to cruising the coastline enjoying the fall colors, yacht ownership opens up limitless possibilities to explore the beauty of Mother Nature. It can also create quite the adrenaline rush if a sportfishing boat is more your style. There are many benefits to hiring a professional yacht broker when you plan on buying your first yacht including having someone on your side when evaluating the right price, for the right vessel.
This 50-foot flybridge yacht (seen below) was sold around the average selling price mentioned above and is a good example of what you can expect when spending over $500k. It features several bedrooms for overnight trips, a galley, a nice flybridge seating area, and a lot of comforts you would find at home.
(Seen below: This Cabo 40 would be considered a smaller yacht and is listed for under $375,000.)
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!).
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.
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!