How Much Does a Yacht Cost?
Living in luxury can be rather expensive, and if you want to learn more about purchasing a yacht, or maybe you just are curious on what the prices are, there are many things to learn about them in general. Just like many other transportation methods out there such as a car, boat or bike, there will be many factors which affect the price.
How much does a yacht cost?
- The cost of yacht is dependent on the year, make/model, length, type (sail, motor, super, passenger, commercial, power, high performance) and seller.
- A typical 20-foot yacht will cost anywhere from $35,000 to around 75,000.
- A midsized yacht around 30 feet can cost as much as $250,000.
- Larger yachts around the 50-foot range can easily reach the $1,000,000 mark.
- Rare models longer than 100 feet can surpass $5,000,000.
- For example, a 150-footer can cost as much as $35 million.
- According to Forbes, some of the most expensive Yachts cost more than $103 million dollars.
- Used cabin cruisers can cost $15,000 to $45,000.
|Under 30'||$35,000 to $65,000|
|31'-35'||$75,000 to $150,000|
|36'-40'||$125,000 to $225,000|
|41'-45'||$325,000 to $475,000|
|46'-50'||$375,000 to $625,000|
See what popular yachts and yachts owned by celebrities cost:
|Archimedes Yacht (James Simons) Cost||$100M|
|Arianna Yacht Cost||$46M|
|Attessa IV (Dennis Washington) Yacht Cost||$150M|
|Aviva Yacht Cost||$100M|
|Blue Moon Yacht Cost||$75M|
|Boardwalk Yacht Cost||$40M~|
|Cakewalk (Walton Family) Yacht Cost||$150M|
|Casino Royale Yacht Cost||$42M|
|Dilbar Yacht Cost||$263M|
|Eclipse Yacht Cost||$358M|
|Fountainhead Yacht (Mark Cuban) Cost||$4.5M|
|Greg Norman's Yacht Cost||$70M|
|Helios Yacht Cost||$38M|
|Lady Haya Yacht Cost||$65M|
|Lady Sandals Yacht Cost||$7M|
|Mogambo Yacht Cost||$100M|
|Moonraker Yacht Cost||$25M|
|Octopus Yacht Cost||$200M|
|Paul Allen's Yacht Cost||$200M|
|Samar Yacht (Kutayba Alghanim) Cost||$100M|
|Sea Owl Yacht Cost||$75M|
|Stella Maris Yacht Cost||$80M|
|Steve Job's Yacht Cost||$200M|
|Vertigo Yacht Cost||$50M|
|Vive La Vie Yacht Cost||$80M|
What are the extra costs?
- Luxuries, such as upgradable kitchens (stainless steel, etc), may be extra.
- If you want to upgrade the interior when purchasing used, you may want to treat it like a home. Remodeling the kitchen or bathroom can cost $10,000+
- When traveling across the waters, gasoline can add up fairly quick. Yachts can have tanks as large as 5,000 gallons.
- Factor in other expenses such as upkeep or if it breaks down. If the yacht breaks down, mechanic bills can easily surpass the thousand dollar mark. As for maintenance costs, plan on spending at least 8 to 15 percent of the initial price for annual upkeep. If the boat cost $200,000, it’s best to budget at least $20,000 per year for upkeep.
- Boats will require licenses, registration, and insurance. This will vary depending on the state you’re registering in. Boating insurance will widely vary on the value of the boat. On average, plan on budgeting at least $500 for a policy at the minimum.
- Marina and ramp fees can cost more than $200,000 per year. Since you will have to store it, the costs will greatly depend on the size of your yacht and the marina.
- If the yacht has to be towed from one marina to another, shipping fees can reach well into the thousands of dollars.
- Due to the complexity of these boats, an engineer and captain is highly recommended for trips. Plan on spending at least $800 to $1,000 per foot for a trip. Mechanics can command higher prices. An additional crew may be needed, depending on the size.
- Mooring around the world can cost you more than $4,000 per night in some areas. If an event is going on, such as the Monaco Grand Prix, your five-night stay could be $100,000.
Tips to know:
- Yachts are going to be very expensive. Before you even start the shopping process, you’re going to want to know what your budget is going to be. If you’re having a hard time finding a yacht that fits within your budget, you may want to meet with a specialized broker who can assist you with the entire process.
- The next thing that you’re going to want to look at are your goals. Do you want to travel the world in this yacht? Are you just looking for an afternoon boat? Whatever it may be, each yacht can cater to different types of activities.
- If considering used, be sure to note the age. Like a home, things inside the boat will start to go bad such as the appliances, floors and plumbing. The exterior of the boat is also something to consider as well as the exterior will need close attention such as routine cleanings.
- Luxyachts.com has an operating cost calculator to give you an idea what it may cost to operate one.
How can I save money?
- Consider purchasing used. Websites such as YachtWorld.com have many ads to browse.
- If you can’t afford one, consider joining a club where you can either rent one or split it with other members.
- Marine mortgages, similar to a home mortgage, are available for owners interested in buying one.