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Buying a yacht: 5 Frequently Asked Questions

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In our role as a high-end yachting company providing yacht sales, yacht chartering  and yacht management, we frequently field numerous inquiries from first-time yacht enthusiasts.

They ask, “Should I go for a new build or opt for a pre-owned? What’s the right yacht size and type for me? Where can I charter my yacht? Which yachts are suitable for Mediterranean ?” among other questions.

Certainly, several vital considerations come into play throughout the yacht purchasing journey, with the total ownership cost standing out as paramount.

But, if you’re venturing into yacht ownership for the first time, how do you discern all associated expenses? We’re here to guide you. Below, we delve into five crucial financial aspects to mull over when eyeing a luxury yacht.

Question 1: How much, on average, does a luxury yacht cost, and what’s included?

The price tag of a yacht can fluctuate based on its caliber, dimensions, and customizations. Though yachts are available for under a million euros, most fall within the multi-million bracket, with ultra-luxury variants soaring into hundreds of millions.

Typically, when placing an offer, a 10% upfront deposit is standard. This offer usually depends on three conditions: the sea trial, a survey, and securing financing if not pre-approved.

It’s also prudent to document the yacht’s inventory with photos at the offer stage to clarify the inclusions in the deal. Our experienced team and our yachting lawyers will guide you through the process.

Question 2: What yearly depreciation rate can I anticipate for a yacht?

Much like automobiles, a yacht’s steepest depreciation occurs in its inaugural year. As a general guide, anticipate a 10% drop in the first year, followed by 6-8% over the subsequent four to five years. This rate usually stabilizes thereafter. Opting for pre-owned yachts tends to soften this depreciation blow.

Question 3: What’s the annual operational outlay for a luxury yacht?

Maintenance typically hovers around 2-3% of the yacht’s initial cost annually. So, a €10 million yacht might demand between 200-300k yearly for upkeep. Additional considerations include sustenance, crew wages, fuel, registration, insurance, mooring charges, and repairs.

To mitigate these expenses, owners often charter their yachts. Prospective buyers can work with our team  to draft a financial plan addressing costs and potential revenue.

Question 4: How much does a yacht crew generally cost?

Standard crew members for a yacht include a captain, mate, deckhand, head stewardess, additional stewardesses, and a chef. Bigger yachts might need added personnel like an interior manager, a purser, and an engineer.

For instance, a 50m yacht might employ around 11-12 crew members, translated to about 500k in salaries annually.

However, the actual crew expense varies based on the yacht’s size, its registry, and the nationality of the crew.

Question 5: What’s the expected reselling price of a luxury yacht?

We’ve previously touched upon the typical depreciation rates that significantly shape a yacht’s reselling price. Apart from this, the yacht’s make, its maintenance history, and any deferred repairs can heavily influence its resale value. It’s noteworthy that many yacht owners switch vessels every 3-4 years. Significant machinery might need substantial overhauls between the 5th and 7th years.

The yacht’s age, coupled with a surveyor’s assessment, will also sway its resale value. You might recoup anywhere between 40-50% or even up to 80% of your initial investment. Thus, it’s essential to account for the overall ownership cost to understand the true financial implication of your purchase.

Clearly, multiple financial facets warrant attention throughout the yacht acquisition process. Given the sizable investment yachts represent, we earnestly suggest reaching out to us. We’re equipped to add immense value, ensuring your yacht procurement journey is smooth and rewarding.