Demonstration of one’s social status and enjoying the onboard experience are among the top reasons for owning a yacht. In the first case, size is the determining factor. In the second case, it is the emotion that comes with it, as many people are passionate about the sea and the yachts. What can go wrong? Let us examine the pros and cons of the yacht ownership experience.
Lack of time is probably one of the top reasons why people get disappointed. Spending just a couple of months a year onboard, may not be enough for some owners. And that’s why they start thinking about the charter. That seems an obvious solution: when you disembark after spending your holiday onboard you do not have to think about the yacht, her maintenance, crew, taxes, and all the rest, as it falls on the shoulders of either the owner or the charter company. And yet there is a common view that charter just does not stack up to the pleasure of having your boat. Yes, chartering is less tiresome but also less exciting. For many owners, their boat becomes almost a part of the family, a thing to be cared for, while charter gives an impression of car sharing or a taxi.
There are those for whom building a yacht is almost as much fun as its usage, if not more. This “building fever” is a common phenomenon: having just built one yacht, they immediately sell it and move on to building another one with no regrets.
Communication between the owner/client and various professionals (the brokers, the shipyard, yacht management companies, the service, and, most importantly, the crew) plays a vital role in the overall experience. And there are many cases when this communication can go wrong. On the opposite end of the spectrum for some owners, these professionals become lifelong friends. The conclusion is that one should look for people who take the client’s wishes into account and can realize them, people who keep their word and are overall comfortable to communicate with. Superyacht owners usually solve this problem by finding a good yacht management company that takes on all the responsibilities of the yacht’s life. They can buy and sell, they can manage and refit, hire and control the crew, etc.
Finding that balance between the inevitable hassle of owning a large-scale property and the happiness that it brings is the main struggle of yacht ownership. Despite the constant attention, the time, and the money needed to invest in a yacht, most yacht owners appreciate that unique experience.
And for those who are interested in the numbers, here is an approximate calculation of owning a 30-meter yacht and chartering.
Yacht prices vary a lot, but usually, a brand-new 30-meter yacht will cost about €10 000 000. On a brokerage market, you can find one for approximately €3 000 000. Insurance fees will cost you €25 000 per year, port fees will add €30 000, and the same amount for technical maintenance. The crew of 5 will cost you around €20 000 a month, but they may not necessarily be working year-round.
The charter rate depends on the age of the yacht. Brand-new ones cost about €100-200 thousand a week. This includes crew and fuel, but the food, drinks, and charter taxes must be paid separately. The taxes are between 13 and 22% of the charter rate depending on the country and the charter route. In total chartering a new 30-meter yacht will cost you €130-150 thousand a week or €520-600 thousand a month. Older yachts are cheaper: about €90 000 a week for a 2-3-year-old boat and €40 000 a week for a boat built in 2005.
All in all, both buying and chartering a yacht require the help of a qualified broker. Aberton Yachts is a company with a spotless reputation and a wide range of yachts that are available for purchase or charter. We are always happy to assist you in making your dream of a perfect holiday onboard come true.
