The richest of the rich often tend to have a particular love for this luxury vacation transport. Cruising in a superyacht on some foreign coastline while enjoying all the world’s luxuries is something that you will see millionaires and billionaires often partaking in.
If you don’t know about this phenomenon, let us introduce you to the world of “super yachting” world. By far one of the most lavish hobbies that one can have. Well, there is a reason why it is considered the most expensive hobby. Buying a superyacht is one of the most expensive asset purchases, but it doesn’t end at that. Operating and maintaining a luxury superyacht can cost up to tens to hundreds of millions of dollars, depending on the size of the yacht. These operating prices can even soar over a million dollars.
Well, what is exactly considered to be a superyacht? There is no concrete definition of what is regarded to be a superyacht, but the term is generally applied to yachts that are above 75 feet and more in overall length. The yacht also needs to operate with a full-time, highly trained crew and can be enjoyed commercially and for pleasure.
What Are All The Costs Of Running A Superyacht?
Running Costs
It is often noted that after the purchase of a yacht, the owner is expected to pay approximately 20% or more of the initial purchase cost to actually operate the entire yacht. So hypothetically speaking, if the yacht was purchased for $10 million, operational costs can run up to $2 million a year. This cost will entail fuel, insurance, dockage fees, maintenance costs, repairs, crew salary, and more.
Crew
A standard boat crew has a particular salary guideline that needs to be followed. The average salary of a captain of a 100-to-170-foot vessel with more than five years of experience can cost up to $192,000 per annum. Apart from that, you might also have to consider stewards, engineers, deckhands, chefs, and more will increase the costs of crew salary. To help new yacht owners navigate these prices, Luxury Yacht Group has devised a convenient crew costs calculator and another one for operating costs.
Mooring
If you want to travel all around the world and park your yacht in the most exclusive marinas, especially during prime season, you might face a setback of approximately $4,000 per night. The most exclusive berthing sports like Monaco Grand Prix and more can easily cost you upwards of $85,000 or more for a five-day stay. Superyachts.com supplies an international marina map to search the world’s marinas and their mooring fees.
Amenities
To utilize your yacht to the fullest, you need to have the toy to help you make the most of your experience. A superyacht is not complete without some jet skis, submersibles, and more. Apart from that, a superyacht also usually includes state-of-the-art amenities such as an infinity pool, cinema, a jacuzzi, a floating beach club, and more. You can keep adding amenities depending on what you desire to have in your superyacht. Some of the biggest superyachts in the world also include amenities such as a helipad and more.
Finance
Marine mortgage or leasing transactions are often used when banks and marine lenders finance superyachts. You can also offer your superyacht to chartering companies which will fetch you lucrative returns. Although you try to justify the pricing, you will often find that chartering can be cheaper without the troubles of ownership if you want to cruise the waters in style. But there is a distinct pleasure of owning your own superyacht that cannot be justified. Fractional ownership plans also share financial responsibility among a party of investors without the entire capital outlay.
Find The Best Superyachts and Boats For Sale in Miami
Are you looking to buy the superyacht of your dreams? Well, now you do not have to look because Miami International Yacht Sales are here to help. With Miami International Yacht Sales, acquiring a new superyacht for sale has never been easier. We have the best relationships with leading shipyards in Italy, the Netherlands, and worldwide to assist our client’s needs. Enjoy a streamlined process with us and purchase your new vessel at the correct price by seeking the current rates, aftermarket pricing, and competitive brands. Get your new superyacht without all the stress and complicated procedures. To learn more contact +1-305-857-8939 or mail us at bob@MiamiYS.com.