In many people dream list, a yatch is probably a common one that can be found. The cost of owning a yatch can adds up and it could be a costly hobby to take on. Roxanne Garnier from Agenceluxury.com recently wrote an article about this subject. It can help you by giving further insight.
One of the most common question I get asked about my time working aboard superyacht is “What are the costs associated with owning a superyacht?” Since no two superyachts are the same and since no two superyacht owners request the same from their yacht and crew, the answer is often hard to give out.
If the superyacht is moved every day from one destination to the next, your annual fuel bill might brake the million dollar mark, but if you plan on keeping it docked in front of your villa to be taken out on weekends only, then fuel costs might not be an issue.
Since the question seems to be asked a lot by those who are simply curious or those who are seriously thinking about splurging on a shinny new white boat, the people at Luxury Yacht Group, an agency that provides creative solutions for yacht management, crew placement, sales and charter, have put together the Luxury Yacht Operating Cost Calculator.
Using this great tool, I decided to calculate the average costs of a 150′ superyacht with 9 crew members and a 12 week charter season. Here are the results:
Engine Costs Fuel $ 83,222 Heat Exchange $ 4,091 Rebuild Costs $ 69,168 Service Costs $ 23,323 Total $ 179,804 Generator Costs Fuel $ 65,047 Service Costs $ 25,202 Rebuild Costs $ 13,500 Total $ 103,749 Maintenance Deck $ 7,599 Interior $ 29,378 Paint $ 97,365 Onboard Tenders $ 9,563 Water Maker $ 2,113 Total $ 146,018 Hydraulics Bow Thrusters $ 5,357 Active Roll Stabilization $ 20,357 Total $ 25,714 Dockage and Transport Dockage $ 199,125 Dockage while owner is aboard $ 42,000 Ocean Transport $ 300,000 Total $ 541,125 Crew Costs Salaries Annual Second Officer/OOW $ 48,000 Deckhand $ 36,000 Chief Engineer $ 84,000 Chief Stewardess $ 66,000 Stewardess $ 67,200 Chef $ 60,000 Deckhand / Engineer $ 38,400 Midgrade Captain $ 120,000 Total $ 519,600 Crew Payroll Services $ 3,600 Crew Medical $ 12,600 Crew Liability $ 3,300 Travel $ 15,300 Food $ 57,488 Uniform $ 24,750 Training $ 4,500 Day workers $ 23,310 Total $ 664,448 Communications Wireless Internet Card $ 1,344 Satelite Data Link $ 54,000 Satelite TV $ 1,440 Crew Cellular $ 1,095 Navigation $ 3,808 Total $ 61,687 Guest Costs Dining and Spirits $ 42,000 Entertainment $ 5,400 Water Sports $ 9,600 Total $ 57,000 Administration $ 24,545 Office Supplies $ 16,821 ISM & ISPS/ ISM Mini $ 6,300 Total $ 47,666 Charter Revenue Sales (12 weeks at $200,000/week) $ 2,400,000 Charter Broker Fees – Retail Broker -$ 360,000 Charter Agent Fees – Central Agent -$ 120,000 Total Net Income $ 1,920,000 TOTAL ANNUAL EXPENSES $ 1,827,543 Annual Profit/Loss $ 92,457
Obviously, the costs of owning a superyacht vary widely on the choices you make, but one think is sure, you can significantly offset the costs by chartering it out for a minimum of 12 weeks a year. One way to stand out from the fleet of superyacht available for charter is to brand your superyacht – build a website, publish a great blog and be social.