The Cost of Owning a Luxury Yacht: Sample Scenarios

#1 New 60-foot luxury yacht. Stays in Florida. Travels 1,000 miles/year.
#2 A 10-year-old 60-foot luxury yacht. Stays in and around France. Travels 5,000 miles a year.
#3 A 10-year-old 100-foot superyacht. Stays in the Mediterranean. Travels 1,500 miles/year.
#4 A new 200-foot superyacht. Travels 10,000 miles a year staying at different locations around the world.

Owning a luxury yacht is the epitome of opulence and a symbol of the high seas lifestyle. But beyond the glossy photos lies a substantial financial commitment. The initial purchase is just the tip of the iceberg. From maintenance to mooring fees, captain and crew salaries to cruising costs, the expenses can quickly mount. For potential yacht owners, understanding the full scope of these costs is crucial to navigate the waters of yacht ownership successfully. In this article, we’ll break down the real expenses behind the glamour, offering a transparent look at what it truly costs to own a slice of maritime luxury.

Sample Scenarios

#1 New 60-foot luxury yacht. Stays in Florida. Travels 1,000 miles/year.

1. Upfront Costs:
   • Purchase Price: $3.5 million.
     • Down Payment (50%): $1.75 million
     • Financed Amount (50%): $1.75 million
   • Sales Tax & Registration: In Florida, the combined tax rate is 6%. Thus, sales tax will be $210,000.
   • Financing: Financing the remaining $1.75 million at an average yacht loan interest rate of 5% for 15 years, your annual payment would be approximately $166,044.
2. Annual Costs:
   • Mooring Costs: $27,000 (as previously calculated).
   • Maintenance (at 7%): 7% of the purchase price for annual maintenance would be $245,000.
   • Fuel (at $4 – $6 per gallon): Assuming the yacht consumes about 20 gallons per hour, traveling 1,000 miles per year at an average of 10 knots would be around 100 hours. This means you’d use about 2,000 gallons.
     • At $4/gallon: $8,000/year.
     • At $6/gallon: $12,000/year.
     • Average: $10,000/year.
   • Insurance: $52,500 (as previously calculated).
   • Crew: $0 (For this example let’s assume no captain or crew).
   • Miscellaneous Costs: $10,000 annually.

Total Upfront Costs:

• Down Payment: $1,750,000
• Sales Tax & Registration: $210,000
• Total: $1,960,000 (excluding financed amount)

Total Annual Costs:

• Loan Payments: $166,044
• Mooring: $27,000
• Maintenance (at 7%): $245,000
• Fuel (average): $10,000
• Insurance: $52,500
• Miscellaneous: $10,000
• Total: $510,544

For scenario #1 we estimate 2m up front and 500k/Year.

Please remember that these figures are approximate and can vary. Always consult with specialists or businesses in the yacht industry for accurate estimates.

#2 A 10-year-old 60-foot luxury yacht. Stays in and around France. Travels 5,000 miles a year.

1. Upfront Costs:
   • Purchase Price: A 10-year-old luxury yacht’s price based on 70% of the original value (€2.45 million).
     • Down Payment (50%): €1.225 million
     • Financed Amount (50%): €1.225 million
   • Sales Tax & Registration (VAT): VAT in France is around 20%, which would be €490,000 for a €2.45 million yacht.
   • Financing: Financing the remaining €1.225 million at an average yacht loan interest rate of 5% for 15 years would lead to an annual payment of approximately €115,764.
2. Annual Costs:
   • Mooring Costs: Premium marinas in France might charge anywhere from €6,000 to €12,000 annually for a 60-foot yacht. Let’s go with the average: €9,000.
   • Maintenance (at 7%): 7% of the purchase price for annual maintenance would amount to €171,500.
   • Fuel (at €6 – €8 per gallon): With the yacht consuming about 20 gallons per hour and traveling 5,000 miles a year at an average of 10 knots (500 hours), it would use around 10,000 gallons.
     • At €6/gallon: €60,000.
     • At €8/gallon: €80,000.
     • Average: €70,000.
   • Insurance: Assuming a rate of 1.7% of the boat’s value, the annual insurance would be €41,650.
   • Miscellaneous Costs: Let’s assume approximately €12,000 annually for various provisions and services.

Total Upfront Costs:

• Down Payment: €1,225,000
• Sales Tax & Registration (VAT): €490,000
• Total: €1,715,000 (excluding financed amount)

Total Annual Costs:

• Loan Payments: €115,764
• Mooring: €9,000
• Maintenance (at 7%): €171,500
• Fuel (average): €70,000
• Insurance: €41,650
• Miscellaneous: €12,000
• Total: €419,914

Please remember that these figures are approximate and can vary. Always consult with specialists or businesses in the yacht industry for accurate estimates.

#3 A 10-year-old 100-foot superyacht. Stays in the Mediterranean. Travels 1,500 miles/year.

1. Upfront Costs:
   • Purchase Price: Assuming a purchase price of $7 million for the 10-year-old superyacht.
     • Down Payment (50%): $3.5 million
     • Financed Amount (50%): $3.5 million
   • Sales Tax & Registration (VAT in the Mediterranean): At 20%, the VAT would be $1.4 million.
   • Financing: Financing the remaining $3.5 million at an average yacht loan interest rate of 5% for 15 years gives an annual payment of approximately $332,088.
2. Annual Costs:
   • Mooring Costs: Estimated at around $60,000 annually.
   • Maintenance (at 7%): 7% of the purchase price for annual maintenance translates to $490,000.
   • Fuel (at $4 – $6 per gallon): With a consumption of 30 gallons per hour and traveling 1,500 miles a year at an average of 12 knots (125 hours), you’d use about 3,750 gallons.
     • At $4/gallon: $15,000/year.
     • At $6/gallon: $22,500/year.
     • Average: $18,750/year.
   • Insurance: At 1.5% of the boat’s value, the annual insurance cost would be $105,000.
   • Captain and Crew:
     • Captain: A captain for a superyacht of this size can have an annual salary ranging from $90,000 to $140,000. Taking an average, we get $115,000.
     • Crew: For a 100-foot superyacht, you might have at least 4 crew members: a chef, a first mate, and two deckhands/stewards. Estimating an average of $50,000 annually for each crew member (which can vary significantly depending on experience, roles, etc.), the total for crew salaries would be $200,000.
   • Miscellaneous Costs: Around $25,000 annually to account for various provisions, permits, and other unexpected costs.

Total Upfront Costs:

• Down Payment: $3,500,000
• Sales Tax & Registration (VAT): $1,400,000
• Total: $4,900,000 (excluding financed amount)

Total Annual Costs:

• Loan Payments: $332,088
• Mooring: $60,000
• Maintenance (at 7%): $490,000
• Fuel (average): $18,750
• Insurance: $105,000
• Captain & Crew: $315,000
• Miscellaneous: $25,000
• Total: $1,345,838

For scenario #3 we estimate 5m up front and around 1.5m/Year.

Please remember that these figures are approximate and can vary. Always consult with specialists or businesses in the yacht industry for accurate estimates.

225′ Superyacht – Drizzle

#4 A new 200-foot superyacht. Travels 10,000 miles a year staying at different locations around the world.

1. Upfront Costs:
   • Purchase Price: Let’s assume a 200-foot new superyacht costs around $50 million.
     • Down Payment (50%): $25 million
     • Financed Amount (50%): $25 million
   • Sales Tax & Registration: The VAT can vary significantly depending on the country of registration, but for simplicity, let’s use a general rate of 20%. That would result in $10 million for VAT.
   • Financing: Financing the remaining $25 million at an average yacht loan interest rate of 5% for 15 years would amount to an annual payment of approximately $2,376,353.
2. Annual Costs:
   • Mooring Costs: For a yacht of this size and the flexibility to stay around the world, mooring costs would vary greatly. An estimated average might be around $400,000 annually, but it could be significantly higher depending on the regions visited.
   • Maintenance (at 7%): 7% of the purchase price for annual maintenance equals $3.5 million.
   • Fuel (at $4 – $6 per gallon): A 200-foot yacht might consume about 130 gallons per hour. Traveling 10,000 miles a year at an average of 14 knots, the yacht would run for approximately 714 hours. This means about 92,820 gallons would be used.
     • At $4/gallon: $371,280/year.
     • At $6/gallon: $556,920/year.
     • Average: $464,100/year.
   • Insurance: Assuming 1.25% of the boat’s value for a new superyacht, the annual insurance would be $625,000.
   • Captain and Crew:
     • Captain: The captain for a 200-foot superyacht might earn between $150,000 to $250,000 annually. Let’s average it to $200,000.
     • Crew: A yacht of this size would require at least 15 crew members, which might include officers, engineers, stewards/stewardesses, chefs, deckhands, and possibly others. Estimating an average of $65,000 annually for each crew member (again, this varies), the total for crew salaries would be $975,000.
   • Miscellaneous Costs: For a yacht of this stature and itinerary, we should allocate around $300,000 annually for various provisions, permits, and other services.

Total Upfront Costs:

• Down Payment: $25 million
• Sales Tax & Registration (VAT): $10 million
• Total: $35 million (excluding financed amount)

Total Annual Costs:

• Loan Payments: $2,376,353
• Mooring: $400,000
• Maintenance (at 7%): $3.5 million
• Fuel (average): $464,100
• Insurance: $625,000
• Captain & Crew: $1,175,000
• Miscellaneous: $300,000
• Total: $8,440,453

For scenario #3 we estimate 35m up front and around 10m/Year.

Please remember that these figures are approximate and can vary. Always consult with specialists or businesses in the yacht industry for accurate estimates.