cost of running a mega yacht

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Us flagged vessel, health insurance costs per crew, uniform cost per crew, training cost per crew, food cost per crew, crew turnover, hires using a professional crew agency.

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Costs of food provisions will vary dependent upon how eloborate food Preferenaces are

Location will play huge factor in food provisons and thing may have to be folws into remorte locations.

Crew is one of the largest expenses on a superyacht and critical to the owner’s enjoyment of their vessel. As the largest crew agency in the world, we know crew. Our cost calculator contains customized crew lists for yachts ranging from 80ft to 600ft with salary information based on our reference verified salary data.

Our users also have the ability to completely tailor the crew list to the specific needs, schedule and requirements of their vessel. Each yacht is unique and may have specific owner requests in addition to the yacht’s safe manning requirements.

Management of the supplemental crew costs and strategic budgeting can help avoid significant overspend on categories such as food and uniform. This tool contains default values based on our industry expertise and recommended budget for an efficiently and safely run superyacht.

To learn more about each crew position in detail, including salary ranges, please visit our yacht department directory .

Drag the sliders to modify your results. These are not linear scales and we expect most yachts to operate within the 20-80% window. Above 80% and below 20% costs increase or decrease at exaggerated levels and we only see numbers in these levels in very rare circumstances.

This sunburst diagram is interactive. You can click into each block to see the expense break down and mouse over each block for more details.

Our chart of accounts displays seven major categories, 20 sub-categories plus a further 80 detail categories for a total of 107.

Our yacht operating cost calculator is now on it’s third major revision. We start with actual yacht expense data from our yacht management accountants and then generate formulas to extrapolate out the budget for a wide range of yachts. We have been providing accounting services to large yachts for the past 18 years.

Our operating cost calculator is tuned for yachts from 80 to 600 feet. We find operating variables create the largest variances for yachts smaller than 100 feet and larger than 250 feet. We have tested the numbers the most in the range from 100 to 250 feet.

Our budget calculator factors in the fuel burn for a range of engine sizes typically seen installed on yachts by length. By dragging the green “fuel dockage” slider to the right you will increase the projected fuel burn rate and therefore the budget cost for fuel. Our default position would be for a typical displacement fuel burn. Position the slider in the 60-80% range for fuel projections for planning hulls.

Our default values produce a budget number that we believe is generous to run a yacht to a high standard. Perfect is a very expensive word to use in the yachting industry where standards are already high. Moving the crew and maintenance sliders to 80% will provide an “industry best” quality of crew and give them the maintenance budget to operate to a very high standard. If you need to go over the 80% area then you may have unusually labor intensive equipment on the yacht.

Yes, our yacht operating cost calculator can output a budget suitable for this situation. Adjust the owner use to 2 (minimum value), owner slider to 0, crew slider to 10%, Administration to 10%, Fuel and Dockage to 0, Maintenance to 10% and then Capital Repairs to 0. This will remove all of the large charges associated with owner use and vessel movement but leave the essential base maintenance and insurance in place.

Lift on and float in yacht transport is a popular way to transport yachts across large ocean passage. The yachts that this service certainly applies to are ones that may not have the motoring range or structural integrity for blue ocean cruising. The cost of transporting a yacht twice per year is put into our budget once the “Fuel Dockage” slider hits 75%. If your yacht has the range we recommend self-sufficient ocean passages whenever possible. Whilst the transport companies sell their services based upon reportedly well oiled operated schedules the reality is that your yacht may stay waiting for pickup for a week or more with no compensation due. When factoring in all secondary factors of self-sufficient passages (increased fuel, maintenance, potential storm damage, crew time off, extra delivery crew) compared with transporting your yacht (insurance, potential loading / unloading damage, loss of schedule control, no work whilst underway, crew flights, crew accommodation) we believe that there is a 100% premium associated with float in transport and a 75% premium with lift on transport compared with self-powered.

Abandoned yachts crash in value. We recommend that even if you are trying to sell your yacht that you use the yacht for a minimum of two weeks per year so that systems are tested and working every six months. There is nothing worse for a yacht than not being used. If you truly are not going to use the yacht then you should sell it immediately for the first genuine offer as every dollar you put into maintenance will not be recovered at the time of the sale.

We did not build this version with sailing yachts in mind. Early in our development of this version we decided to exclude sailing yachts as a few of the major cost drivers scale very differently for sailing yachts compared with motor yachts. For example: To calculate paint costs we reviewed the surface area of over 100 large yachts and created a formula for painted surface area to length. Sailing yachts just don’t scale in a consistent way. Similarly crew numbers don’t scale in the same manner that they do for motor yachts. If there is sufficient demand we may build a sailing selector switch into a future version of this tool.

We hate to hear when yacht owners were told by their broker to factor in 10% of the purchase price to operate the yacht. This over used saying is sadly right occasionally (particularly for newer yachts in the $20-30M range)… but just because a broken watch tells the right time twice a day you shouldn’t rely upon it to tell the time. As yachts get older their capital value decreases but their maintenance costs increase. There is no way that a fixed 10% of purchase cost rule can be true… if your broker told you this rule then you need a new yacht broker… we know some good ones. 😊

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The Real Costs of Owning a Superyacht [Complete Guide]

November 25, 2019 1:00 pm

Owning a  superyacht  is a status symbol available only to the world’s wealthiest individuals and corporations. Although there is no strict definition, the Red Ensign Group Yacht Code is applicable to “motor or sailing vessels of 24 meters in load line length and over…and which, at the time, is in commercial use for sport or pleasure and carries no cargo and no more than 12 passengers 1 .” There are currently just over 10,000 superyachts in the world with around 200-250 new builds delivered each year. The vast majority are  motor yachts , with sailing yachts counting for less than 20% of the total. The world’s largest private vessel, Khalifa bin Zayed Al Nahyan’s 180m (590-foot) AZZAM,  cost $600 million to build when it was delivered in 2013. Eight of the ten most expensive luxury acquisitions of all time were superyachts.

Purchase Cost

Buying a new or used superyacht will most likely cost the buyer several million dollars. Pricing varies widely based on the yacht size, age, and other factors such as builder, guest capacity, speed, range, and more. The market is worldwide and extensive. Any potential buyer would be well-advised to engage a professional, certified broker to guide them in the selection of their dream yacht and through the myriad of complications in making the purchase.

• • Financing the Purchase
• • Immediate Post Purchase Costs

Operating Costs

In years past, owners and their brokers would work on 10% of the purchase price as an estimate of annual operating costs, but the vast range of yacht size, operating location, and usage profile makes this approach less useful without giving the question more thought. Building a budget for a yacht requires consideration of the following elements:

Crew – Salary, payroll taxes, recruitment fees, uniform, health insurance, food, and travel for vacation and repatriation are all crew-related costs. A good guide for salary costs is published by Dockwalk magazine every year based on an extensive survey of the crew and placement agents. Using their most recent article as a guide, a crew of eight full-time crew on a 150-foot yacht will cost over $650,000 per year in salary alone. Get a complete crew cost breakdown.

Dockage – Unless the owner plans to spend the year at anchor, then keeping the yacht in a marina incurs a significant cost. Dockage is normally sold per foot of the yacht’s full length and per night, although contract rates for longer periods may be available. High-quality marinas in peak seasons are currently running in the $6-8 per foot per night range. Electricity, fresh water, and waste removal are all additional costs to be considered.

Fuel – The captain or engineer should be able to provide the fuel consumption per hour at any given speed, so if a yacht owner knows roughly how much he wants the boat to travel, then he can estimate the total fuel consumption and budget the fuel cost. There is also the fuel cost for generators, particularly at anchor. A typical 150-foot motor yacht cruising at 12 knots will consume in the region of 150 U.S. gallons per hour. At today’s fuel prices, that’s going to be close to $500 per hour. 500 hours per year will give us the main engine fuel budget of around $250,000. To this, we must also add the generators’ fuel consumption at anchor plus any additional cost for tenders.

Communications – Everyone onboard, crew and guests, want to remain connected to their social media, streaming services, and email. The technology available in this area moves fast and with 5G coming online, near-shore costs will likely come down. For those who want broadband speed while offshore, costs are high and depend on the upload/download speeds required. Start with an estimate of $4-5,000 per month and work from there. Additional communications costs include satellite TV subscriptions, crew cell phone costs, mail, freight, and more. Get a complete communication cost breakdown.

Maintenance, Consumables, and Other Operating Costs – Having considered crew payroll, marina costs, fuel, and internet, the budget will start to materialize. One must take all other costs into account, such as hull insurance, liability insurance, maintenance and consumables, warehousing, safety and survey costs, upkeep of the navigation outfit, computing support, car rental, and more.   

Looking for more details?

Receive the complete Cost of Yacht Ownership Guide including:

• • Offsetting Expenses With Charter
• • Superyacht Financing
• • Budget Development + More

This should not be considered a financial guide. For a more accurate estimate, contact Clive McCartney .

1 Red Ensign Group Yacht Code Section A 1.2(1) 

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How Much Does it (Really) Cost to Own a Yacht?

The true cost to own a yacht is an area of concern for many prospects of yacht ownership. And it should be.

Maintenance costs, exploitation costs, total cost compared to yacht charter, we detail in this article the expenses (especially the hidden ones) you have to consider before buying your first yacht !

We also provide you several solutions to lighten your investment and reduce the cost to own your yacht. 

If you are looking for the price of a yacht charter (rental), please read this article instead .

How much is a yacht?

Before diving into the expenses that comes monthly, yearly or every decades once you own a yacht, let’s answer the elephant in the room: How much is a yacht (alone) in the first place? The short answer is… it depends, of course. But in most cases, the longer the yacht, the higher is her selling price.

Generally speaking, you can expect to find yachts for sale in the following price ranges:

• Below 50ft (15m): between 500K – 2,500,000 € / USD
• Between 50-70ft (15-21m): between 2 millions and 6 millions € / USD ( See our 9 catamarans for sale under 6 millions here )
• Between 70-100ft (20-30m): between 6 millions and 20 millions € / USD
• Superyachts over 100ft (30m): minimum 10 millions € / USD

You can always find exceptions to the rule and find cheaper or more expensive yachts for sale outside of these price brackets.

A lot of factors come into the selling price of a yacht: supply and demand, brand / model reputation, age and condition of the vessel, urgency or lack of for the sale and so on.

What are the main hidden costs that come with yacht ownership?

You probably already guessed it, the cost of owning a yacht doesn’t stop at its purchase price . In some cases, the price you bought your yacht at can seem like a bargain, but it really isn’t once you start adding all the hidden costs, and many of them come yearly.

Here are the main ones you should be wary of.

Yacht exploitation and running costs : always calculate them carefully before buying your yacht

It always cost you money to exploit your yacht.

When you are chartering a yacht, a part of these operation costs is included in your APA (Advanced Provisionning Allowance) .

When you own a yacht, these costs still apply , but you will have to pay directly for them.

Among the main operation costs, the most important are usually the following:

• The fuel: its cost will depend on the type of boat, her fuel consumption, the region, and the distances traveled;
• The mooring fees which depends on the area but also on the boat size;
• The crew, if you need it. The cost will depend on the frequency and the crew’s size;
• The communication fees;
• The food and beverages supplies;
• All the expenses related to your leisure activities.

Yachts maintenance: a cost that you should definitely not overlook

Even outside of its operating period, it still costs you money to own your yacht!

Maintenance of your boat isn’t an option and must be done on an ongoing basis. The price vary depending on the type of yacht you are owning (motor, sail, etc…), the size of the vessel, but also how old she is.

The maintenance costs include :

• The regular maintenance of certain equipment, like engines, thrusters, sails, rigging, safety equipment, hull(s) (fairing)…;
• The occasional maintenance operations in case of breakdown or damage;
• The painting;
• The cleaning and the specialized maintenance products (for teak, leather, …). 

The costs of maintenance and upkeep will obviously not be the same if you do it yourself or if you call in specialists. But regardless, you should have a budget buffer dedicated to maintenance costs when you plan on buying a yacht, especially if she already had a long sailing life.

The taxes and insurance premiums of a yacht: a cost that most forget

Consider the different taxes (at the purchase and annual) and the yearly yacht insurance that you have to pay. A specialized insurance policy is generally estimated at between 0.8% and 1.2% of the boat’s purchase price per year.

Must Read : Yacht Insurance : The Definitive Owner’s Guide

Yearly harbor fees : a very important hidden cost of yacht ownership

The port and/or winterization fees are also a big part of yacht ownership costs that you should carefuly estimate.

Depending on your region, you may need to consider “dry-docking” your boat, which involves handling, transport, and storage which can be really expensive. 

If you can leave your yacht in the water all year round, you will need to go for a harbor ring concession.

Depending on the marina and its infrastructure, the region, and your boat’s size, the costs may considerably vary from a few hundred dollars to thousands of dollars a month . However, it is easy to obtain this information from marinas once you have chosen which yacht to purchase.

The depreciation’s price of a yacht

A yacht, like a car, will depreciate . It is difficult to estimate the depreciation, as it depends on economic conditions, exchange rates, price inflation when new, the type of boat, and the shipyard. 

However, it is reasonable to estimate a minimum depreciation of 10% in the first year, then 7% in the following years. From the fifth year on, the depreciation tends to slow down. On the other hand, the operating costs increase.

Summary of the main operating and maintenance costs of owning a yacht

So, to sum up, how much does it cost to own a yacht? It largely depends on your type of yacht and your location.

But in general, owning a yacht will cost you between 10-25% of its value annualy . The longer the yacht, the likelier you are to be at the end of the spectrum.

Here are the reasonable costs you could consider:

• 10% of its value annually for a 60ft (18m) / 1 million USD yacht and below (=max 100K / year)
• 20% of its value annually for a 100ft (30m) / 10 millions USD yacht and above (=min 2 millions / year)

These brackets of total costs include everything: usual yacht maintenance, upkeep and operating costs that will be distribued as follow:

• Communication
• Maintenance
• Insurance premiums
• Harbour fees
• Cost of depreciation

Are you worried? Do not. Luckily, there are numerous ways to decrease the overall cost of yacht ownership and still enjoy yachting as it should be. Read the next paragraphs to know these valuable tricks.

If you liked this article you will also like : HOW MUCH DOES IT COST TO CHARTER A YACHT?

How to reduce the cost of yacht ownership?

A yacht keeps on costing money even when not in use, so the best way to make it a more profitable investment is to increase its exploitation.

Renting your own yacht : a good way to reduce the costs of owning a boat

When you are not using the boat, you can earn income by renting it out. The rental price depends on the type and size of the boat, but also its location. While making money from renting is possible, don’t expect to pay back all your expenses. Nevertheless, it will help you in avoiding your yacht becoming a financial burden. 

The easiest way to do this is to hire a professional charter company to help you. If you go for a reputable and experienced company, you will benefit from their expertise and contacts. It will also save you from legal, insurance, and withdrawal issues and avoid red tape.

On the topic : Yacht to Charter : Can It Be Profitable?

Fractional yacht ownership: share the cost of owning a yacht with co-owners

Another solution to own a yacht at lower cost is fractional ownership of a boat , which means that you own a fraction of it. It can be half, a quarter, or even less. For a long time, boaters have been opting for this option of partial ownership with friends or family. These days some companies create formalized fractional ownership arrangements for more guarantees. 

For example, in partnership with the Windward Islands, SAILING RESORT proposes fractional boat ownership on the fabulous trimaran, the LEEN 72’. So you can become a co-owner of the new hybrid-powered multihull which can accommodate up to 10 passengers and 4 crew members. You will enjoy private use of the trimaran (depending on the period) from 6 to 12 weeks during the first 5 years.

This program proposes a profitable commercial operation with 24/7 premium service. It is a tailor-made solution for all those who want to feel like owners of a prestigious yacht for a few days a year while limiting their investment and responsibilities. WI manages the operation of the yacht for you out of your personal use, like the charter’s organization, maintenance, insurance, annual mooring, and all other administrative tasks.

Once you have weighed the pros and cons and have the means to finance both the purchase and the annual costs (maintenance, operation, …) of your yacht, you should go for it! Indeed, if you can evaluate the hidden costs and expenses of owning a boat, the freedom and unforgettable memories are priceless. 

Yacht Charter remains a cheaper alternative than yacht ownership in many cases

If you can’t enjoy your yacht frequently or are still unsure about whether it’s worth the cost or not to own a yacht, you might consider chartering instead. This will allow you to try out different models , from various shipyards, and see which ones you prefer.

Therefore, the cost of renting a yacht will save you from having to worry about all those hidden costs of owning one. All you have to do is pay for your charter, your cancellation insurance and set your APA during your stay. This way, you only pay money, time, and effort when you use the boat.

What is the (true) cost of chartering the yacht you've seen? 💰⛵

The advertised prices of all charter companies do not include APA, VAT & other variable costs. 

Use our calculator to get a 100% FREE estimate of the REAL total cost of your next yacht charter! ⬇

Read also : SUSTAINABLE YACHTING: HOW IS THE BOAT INDUSTRY BECOMING MORE ECO-FRIENDLY?

Frequently asked question

For a 60-foot or million-dollar yacht, the cost per year will be about 10% of its value or $100,000 per year.

You should expect to pay about 20% or more of the original price of your boat to run it annually. So, for a $10 million yacht, the cost to operate will be about $2 million per year, including fuel, insurance, dock fees, maintenance and repairs, crew, etc.

A 180-foot superyacht and/or mega yacht costs a minimum of $4.75 million per year to operate and maintain. Kitty McGowan of the US Superyacht Association estimates an annual budget of $1 million for maintenance and repairs, $350,000 for dockage, $240,000 for insurance, $400,000 for fuel, and $1.4 million for the crew. Add another 15-25% of the vessel’s value for V.A.T.

Once you have weighed the pro and cons, if you can afford the purchase and all the hidden annual expenses, have found your dreamed yacht, and have time to enjoy it, you should go for yacht ownership!

It is not the best way to make money, but you can minimize your annual expenses by renting it or opting for fractional boat ownership.

It’s hard to tell. As long as you have the money and enough time to enjoy it, it is worth owning a yacht! Everything cannot be estimated. For example, it will bring you invaluable freedom and happiness.

One of the easiest way to reduce the maintenance cost of a yacht is to fractional yacht ownership. That way, the maintenance expenses are spread among co-owners according to their shares.

It varies greatly depending on the size of the yacht. For a yacht of 60ft (18m), you will likely spend around 10% of its purchase value each year in maintenance and exploitation costs.

Luxury yachts have maintenance and operation costs that are around 10% of their value yearly. So if a yacht value is 2 millions USD, its maintenance and operations costs should be around 200K / year.

Operating a sailboat is usually 20-40% cheaper than the same size motoryacht. Motoryachts tend to be more expensive to operate than sailboats as the fuel consumption can become an important expenditure fast.

A small yacht below 50ft is usually for sale between 500K and 2,5 millions USD / €. A mid-size yacht between 50ft and 100ft is usually for sale between 2-15 millions USD / €. Above 100ft, the selling price is rarely below 10 millions USD / €.

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How Much Does It Cost to Run a Superyacht?

Superyachts range in size starting from around 24m with the largest in the world reaching nearly 200m; they are the definition of opulence and luxury. But, what are the running costs of a Superyacht like?

This piece aims to educate you on what aspects of yachting collectively contribute to the overall running cost of a Superyacht. Many people have the perception that the world of superyachts is reserved for the rich and famous. And, when it comes to owning a yacht and fitting the bill for the annual running costs, they just might be right. 

There are many variables to consider when looking into the running costs of a Superyacht. And, each yacht will vary due to different factors. For example engine size, maximum speed, size of the crew, and size of the yacht. 

The average amount of running a Superyacht annually is 10% of the yacht’s value. In a 2015 report by Towergate insurance, on average, a 100-meter Superyacht with a top speed of 25 knots and 50 crew members should cost around $274 million per annum. 

Let’s start with the crew. The crew live onboard, some during the busy summer months. Or, some year-round. It all depends on the itinerary and requirements of the yacht. Crew costs include salaries, training, living expenses whilst crew are on board, travel expenses, and insurance. 

More experienced crew members will demand higher salaries and the bigger the yacht, the more crew it will require. Some of the larger yachts have multiple chefs, which contributes towards the running cost of Superyacht As well as a whole team of interior staff managing service housekeeping and laundry. And, an engineering team keeping the yacht running. Not forgetting a deck team to ensure the yacht’s exterior is always in pristine condition as well as driving the tenders. And, being navigational experts. 

It is not unusual for crew salaries on larger yachts to reach €100,000 per month. Whereas, a smaller yacht with 3 crew would be closer to €16,000.

The crew will also need uniforms. They will be embroidered with the yachts’ name and logo and be supplied by yachting uniform companies. Crew often have various outfits for day and night. A well as for water sports, casual and formal and several accessories to match. 

Water Toy running costs

Superyacht owners love to have the latest and greatest water sports toys and equipment on board. And surely, they all cost a pretty penny. Most yachts will be equipped with paddleboards and snorkeling equipment. As well as kayaks, jet skis, sea bobs, a tender and a variety of inflatables. As an example, one jet ski can range between $5000 – $20,000 depending on the make, model, and spec. While the cost for a luxury tender can be in the millions. 

Berthing and cruising

Where you plan to keep the yacht is another major factor when looking at the running costs of a Superyacht. The fees charged for a berth in a marina are based on the size and demand of the yacht for the marina. As well as the amenities available for your yacht. For example, a berth in St Tropez in the summer months will cost a lot more than a winter berth. This is due to the high demand in the summer. Ports can charge between €2000 and €3000 per night. And VAT, the use of electricity, water, and garbage disposal will be chargeable on top of that. 

Keeping the yacht stocked is very important. Spare parts, filters, pumps, cleaning supplies, and equipment need to be factored into the running costs of the yacht. These costs can vary. It depends on the equipment on board. Also, it depends on the itinerary of the yacht. As onboard stores will need to be well-stocked if the yacht is cruising in remote areas. 

Insurance, Medical & Maintenance

The 2015 Towergate Insurance report averages insurance costs at +- $240,000 per annum. This would include hull insurance, crew medical insurance, and PNI. 

The report also states that repairs and maintenance can result in running costs being millions per annum. It all depends on the age and usage of the yacht, Maintenance includes regular servicing of the generators and engines. Maintenance on all interior and exterior finishing’s, paintwork, woodwork, and equipment needs to be carried out regularly. This is to keep the Superyacht at a high standard. 

Yachts need hull inspections and surveys. This can be every year, two years, or five years. It needs to be done in a shipyard with the facilities to lift the yacht out of the water- these are called periodic surveys. Each yacht will need to comply with the regulations specific to that yacht depending on its gross tonnage and hull material. The costs will be based on the size of the yacht.

Fuel running costs

Fuel is a huge part of the running costs of a Superyacht! Not only does the yacht need fuel for cruising; the generators require fuel to keep the vessel running while at anchor and underway as well as many of the water sports toys requiring fuel. As an estimation, a 70-meter yacht will consume 500 litres of fuel per hour when the engines are running but the yacht is not moving so this would be an example of when the yacht is at anchor. 

The fuel consumption would be significantly higher when the yacht is cruising and could cost up to €24,000 for an overnight cruise of 12 hours at 18 knots. 

Safety equipment

Yachts, by law, need to comply with certain safety and security regulations and this requires specific equipment to be on board. Each yacht, depending on size, design, and the maximum number of crew and guests on board, will have unique requirements. This equipment will include firefighting equipment, life jackets, immersion suits, life rafts, and medical supplies. All of this needs to be regularly updated and serviced as requirements and maritime regulations change. 

Shore personnel 

The last expense is onshore personnel. This includes the services of a management company, or charter brokerage if the yacht is commercially registered. The management company will manage items such as expenses, crew payroll, and crew holidays, as well as any booking of refits or maintenance works. A charter management company will market the yacht to reserve charters for the yacht in the months it is available. 

Management fees will depend on each company as well as the services you procure.

Visit West Nautical for more information on yacht management services.

For the latest Superyacht News, click here .

West Nautical

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Can I Afford a Super Yacht?

They’re the preferred luxury vacation transport of millionaires and billionaires from Bono to Stephen Spielberg to Jay Z, conjuring images of the mega-rich cavorting off some dazzling foreign coastline.

“Super yachting” is officially one of the world’s most extravagant hobbies. And there’s a very good reason for that: It costs a massive amount of money. Luxury yachts are among the most expensive asset purchases. And it’s not just that the initial capital , which can run tens to hundreds of millions of dollars, is high. Yachts also come with tremendous annual running costs that often soar over $1 million.

There is no legal definition of “super yacht.” The term generally applies to yachts that are 75 feet or more in length, have a full-time professional crew, and are enjoyed for pleasure or commercial operation. Of course, no two super yachts are the same, and no two super yacht owners have the same taste or yacht aspirations. So outlay and running costs can vary significantly.

Key Takeaways

• A super yacht describes a personal boat that is both larger and more extravagant than typical private yachts.
• These are a luxury item that belongs to those ultra-high-net-worth individuals who can afford them.
• Up-front purchase prices can be in the several millions of dollars, and then ongoing operating and maintenance costs could run another million dollars or more each year.

Post-purchase, an owner should expect to pay around 20% or more of a yacht’s initial purchase price annually to keep it running. So in theory, a $10 million yacht would set you back $2 million a year in operational costs. Fuel (lots of it), vessel insurance, dockage fees, maintenance and repairs, and crew salaries are typically the heftiest running costs.

Dockage fees can run about $350,000 and administration about $70,000. Maintenance and repairs can be in the millions, as can crew salaries. The upkeep of the 590-foot super yacht Azzam, owned by President Sheikh Khalifa bin Zayed Al Nahyan of the United Arab Emirates, is estimated at $60 million per year, although it does come with two helipads and a missile defense system.

Luxury Yacht Group provides salary guidelines for a standard boat crew. It prices the captain of a 100-to-170-foot vessel with more than five years of experience at anywhere up to $192,000 annually. And you’ve still got to factor in chefs, stewards, deckhands, engineers, and more. Just so new yacht owners don’t get hit with any rude cost surprises, Luxury Yacht Group has developed a handy crew costs calculator and another one for operating costs .

Prices vary from port to port around the world, but parking your boat at the most exclusive marinas in high season can set you back well over $4,000 per night. Berthing spots during prime-time events such as the Monaco Grand Prix can cost up to $85,000 or more for a five-day stay. Superyachts.com provides a global marina map with which to search the world’s marinas and their seasonal mooring fees.

Keep in mind the obligatory “ toys .” No floating playground is complete without resident fun machines like Jet Skis and submersibles, not to mention crucial, state-of-the-art leisure  amenities like an infinity pool cinema or floating beach club. Eclipse, owned by Russian businessman Roman Abramovich, features two helicopter pads, a three-man “leisure” submarine, and two swimming pools—one of which converts into a dance floor.

Several banks and marine lenders will finance the purchase of a super yacht , either via a leasing transaction or via a marine mortgage . And offering your super yacht for charter can fetch attractive returns. However, if you have to cost-rationalize the purchase, perhaps buying one of these vessels isn’t the best way to go. Instead, you could always charter one for the same floating luxury feeling without all of the ownership responsibilities. There are also fractional ownership schemes that share financial responsibility (and super yacht enjoyment) among a party of investors without the full capital outlay.

If you happen to be one of the world’s ultra-high-net-worth individuals (UHNWIs) , a lavish floating playground could be right for you. However, if you’re not in the billionaire ’s club, don’t despair. You can still charter, share in a fractional arrangement... or simply opt for a more affordable yacht—less “super,” that is. Still, there will always be a place for the opulent, and incredibly expensive, among the world's elite.

Luxury Yacht Group. " Superyacht Cost Calculator ."

AzureAzure. " Azzam: The World’s Largest Private Superyacht ."

Industry Tap. " World’s Largest Superyacht Comes with a Bullet Proof Master Suite & Missile Defense System ."

Luxury Yacht Group. " Salary Guidelines ," Page 1.

Yacht Club de Monaco. " Tarifs YCM Marina ."

CharterWorld. " Eclipse Blohm & Voss ."

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Yacht Maintenance Cost. The Real Costs of Owning a Superyacht

23rd oct 2023 by samantha wilson.

The superyacht industry has seen an unprecedented boom. While superyachts were always highly sought after commodities, the idea of escaping the crowds, exploring off-the-beaten-path destinations, and having a private holiday have never been more popular. But superyacht holidays are one of the most extravagant luxuries there is, and left to a small percentage of UHNWIs. In fact, luxury yachts top the list of the 10 most expensive asset purchases ever recorded (see our Superyacht FAQs for the largest and most expensive superyachts in the world) . The cost of superyacht ownership is no small undertaking and, as for all boat owners, the purchase price is just the beginning.

Here we take a look at average superyacht operating costs : (for something a bit smaller, check out our guide to creating a boat buying budget .)

Yacht maintenance cost

As a general rule, superyacht owners can expect to spend roughly 10-12% of the initial purchase price on upkeep and running of their yacht. Of course superyachts come in all shapes and sizes ranging from 24 metres to well over 100 metres, and purchase prices will be reflected in the size, age and finish. The average sale price for a superyacht is around $8 million, however a 24 metre yacht could be around $1 million (or less for used superyachts), $11 million in the 40m-50m category, $24 million in the 50m-70m category and around $80 million for yachts of 70m or more. Some of the largest yachts in the world (those over 100 metres in length) can go for up to as $175 million. So a $50 million yacht is likely to cost around $5 million a year to run and maintain, while the largest yachts could run to over $50 million a year. So what is it that costs all the extra every year?

Yacht f uel costs

One of the biggest outgoings in the running of a superyacht is the cost of diesel . To put this into context, a 70 metre-long superyacht will use around 500 litres of diesel an hour just to run the generators. A moving yacht will be using approximately $2,000 per hour whilst underway at a speed of around 18 knots. A smaller yacht will obviously use much less, so a 45 metre yacht will use around 560 litres per hour whilst underway at a rough cost of around $500/hour. Based on around 500 hours of cruising time per year that is approximately $250,000, plus all the time spent at anchor and any fuel used for tenders. 

Berthing and mooring costs

As with all boats big and small, berthing costs are one of the highest expenditures. Marinas vary hugely in price, with the most sought after incurring the highest price tags. The most exclusive marinas can cost around $3,000 per night and be booked up long in advance. 

In general however, dockage is usually priced by the length of the yacht and per night, although long-term contracts are also possible. Berthing fees will not usually include electricity, water and waste removal, which need to be factored in too. When winter sets in, if the yacht isn’t travelling to warmer climes, some yachts opt for dry dock, especially if they’re looking to get maintenance and repairs done. This involves lifting the yacht out of the water with specially designed cranes. 

Owner-on-board costs

Of course the whole point of having a beautiful superyacht is to use it and enjoy it. Costs when the owner is on board go up as a full crew, food, alcohol, flowers and any other entertainment costs such as parties and events need to be accounted for. With most yachts able to accommodate up to 12 guests, a yacht in full cruising and entertaining mode could include everything from helicopters and land transfers, to  

Super yachts crew salaries

Superyacht crews vary in size from three or four members to in excess of 70 members on the largest yachts. When you consider that their salaries, taxes, recruitment fees, food and travel for holiday time and repatriation need to be taken into account, the superyacht crew costs are some of the highest expenditures. A captain’s salary alone can be in excess of $20,000, with some chief engineers on $10,000 and chefs around $5,000-$8,000. Crew wages can easily be around $100,000 per month for larger yachts, while a crew of 8 on a 45 metre yacht could be in the region of $600,000 per year. Add to that figure management agencies, shore based crew, specialist part-time crew such as helicopter pilots and food to feed them all and it’s easy to see why this figure is one of the highest outgoings.  

Super yacht repairs

Superyachts need constant upkeep and maintenance which could include everything from maintenance of the engines, to the thrusters, sails, swimming pool/hot tub, decks, electronics, safety equipment, hull, interior and much more. Superyacht maintenance costs are on-going, but winter is usually the time for major projects in shipyards, and costs can vary hugely depending on the level of work being done. Lifting the yacht out of the water, wrapping it for a re-paint or having a new interior refit are big undertakings. 

Super yachts taxes and insurances

Superyacht taxes and insurances must be factored into the cost of owning a superyacht, with import tax on new vessels up to 20% (see our article on VAT and Brexit ) and insurance policies around 0.8% and 1.2% of the boat’s purchase price each year. 

Communication Costs

An often under looked outgoing in the running of a superyacht is the communication costs. With the internet a must-have on board for both guests and crew, packages for satellite and broadband communications can start from around of $4,000 to $5,000 per month. 

Super yachts tenders and toys

One of the highlights of a superyacht charter or holiday are the amazing array of water toys. From classic Jet skis and scuba gear to new-fangled jet packs and sea bobs, the choice is incredible but not cheap. Tenders too are a must for allowing guests and crew to get to shore, for exploring and for water sports. Some of the custom built models can cost $1 million alone. Add to all this James Bond-style additions such as helicopters and submersibles and the sky is the limit when it comes to spending on amazing tenders and toys. 

Superyachts are some of the most incredible and prestigious machines on the planet, and owning one is an incomparable experience. Whether you’re in a position to buy a superyacht or looking to buy a boat of a smaller length, then Rightboat.com should be your first port of call. With thousands of boats and superyachts represented by the top brokers in the industry, you will be in safe, private and experienced hands. 

Written By: Samantha Wilson

Samantha Wilson has spent her entire life on and around boats, from tiny sailing dinghies all the way up to superyachts. She writes for many boating and yachting publications, top charter agencies, and some of the largest travel businesses in the industry, combining her knowledge and passion of boating, travel and writing to create topical, useful and engaging content.

More from: Samantha Wilson

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The Ultimate Guide to Understanding the Cost of Owning a Super Yacht

Introduction.

A super yacht is the ultimate symbol of luxury and wealth. These vessels are typically over 80 feet long and come equipped with all the amenities one could imagine, from swimming pools to movie theaters. However, owning a super yacht is not for the faint of heart, as the cost of ownership can be astronomical. The initial purchase cost of a super yacht is just the beginning. Maintenance and operating costs can easily exceed millions of dollars per year . This includes everything from fuel and crew salaries to annual maintenance and repairs. In addition, there are additional costs to consider, such as insurance and dockage fees. Despite the high cost of ownership, many people still dream of owning a super yacht. However, it's important to understand the true cost of ownership before taking the plunge. In this guide, we'll break down the various costs associated with owning a super yacht and provide tips on how to reduce those costs. By the end of this guide, you'll have a better understanding of whether owning a super yacht is worth the investment.

Table of Content

The initial purchase cost of a super yacht, maintenance and operating costs, additional costs of owning a super yacht, ways to reduce the cost of owning a super yacht.

When it comes to owning a super yacht, the initial purchase cost is often the first thing that comes to mind. And for good reason - it's a significant investment. The cost of a super yacht can vary greatly depending on a number of factors, including the size, age, and features of the vessel. At the lower end of the spectrum, a smaller, used super yacht can be purchased for around $1 million. However, for those looking for something more luxurious, the price tag can easily reach into the hundreds of millions. In fact, some of the most expensive super yachts ever built have cost upwards of $500 million. So, what factors affect the cost of a super yacht? One of the biggest is size. The larger the yacht, the more expensive it will be. Other factors include the materials used in construction, the level of customization, and the technology and features onboard. Despite the high cost, many people still choose to invest in a super yacht. For some, it's a status symbol, while for others, it's a way to enjoy the open sea in luxury and comfort. But before making the decision to purchase a super yacht, it's important to consider all of the costs involved, including maintenance and operating costs, insurance, and dockage fees. Only then can you determine whether owning a super yacht is truly worth the investment.

Owning a super yacht is not just about the initial purchase cost, but also about the ongoing maintenance and operating costs. These costs can add up quickly and significantly impact the overall cost of owning a super yacht. Annual maintenance and repairs are a necessary expense for any super yacht owner. The cost of maintenance can vary depending on the size and age of the yacht, as well as the level of upkeep required. For example, a 100-foot yacht may require an annual maintenance cost of around $500,000, while a 200-foot yacht could cost upwards of $1 million per year. In addition to maintenance costs, operating a super yacht also comes with significant expenses. Fuel costs alone can be astronomical, with some super yachts consuming up to 500 gallons of fuel per hour. Crew salaries are another major expense, with a full-time crew of 10-15 people costing around $2-3 million per year. It's important to note that these costs are ongoing and can quickly add up. However, there are ways to reduce these expenses. For example, some super yacht owners choose to charter their yacht when they're not using it, which can help offset some of the operating costs. Others may choose to share ownership with other individuals or companies, which can also help reduce the overall cost of ownership. Ultimately, the maintenance and operating costs of owning a super yacht are significant and should be carefully considered before making a purchase. While the luxury and prestige of owning a super yacht may be appealing, it's important to weigh the costs and benefits to determine if it's truly worth the investment.

Owning a super yacht comes with additional costs beyond the initial purchase and maintenance expenses. These costs can add up quickly and should be taken into consideration before making the decision to buy a super yacht. One of the most significant additional costs of owning a super yacht is insurance. Super yachts are expensive assets, and it is essential to have adequate insurance coverage to protect against any potential damage or loss. The cost of insurance for a super yacht can vary widely based on factors such as the value of the yacht, its intended use, and the cruising area. It is not uncommon for insurance premiums to cost hundreds of thousands of dollars per year for a super yacht. Another significant additional cost of owning a super yacht is dockage fees. Dockage fees are the fees charged by marinas or yacht clubs for mooring a yacht. The cost of dockage fees can vary widely based on the location and the amenities offered by the marina. In popular yachting destinations such as the French Riviera or the Caribbean, dockage fees can easily cost tens of thousands of dollars per week. Other additional costs of owning a super yacht can include crew salaries, which can be a significant expense for larger yachts. Additionally, there are costs associated with outfitting the yacht with the latest technology and amenities, as well as the cost of any necessary repairs or upgrades. While these additional costs can be significant, there are ways to reduce them. For example, some yacht owners choose to charter their yachts when they are not using them, which can help offset some of the costs. Another option is to share ownership of a yacht with other individuals, which can help spread out the costs. Overall, it is essential to consider all of the additional costs of owning a super yacht before making the decision to buy one. While the costs can be significant, for those who can afford it, the rewards of owning a super yacht can be well worth it.

Owning a super yacht is a dream for many, but the cost of owning one can be overwhelming. Fortunately, there are ways to reduce the cost of owning a super yacht without sacrificing the luxury and enjoyment that comes with it. One option is chartering. By chartering your super yacht, you can earn income to offset the cost of ownership. Chartering also allows you to share the cost of maintenance and operating expenses with the charter guests. However, it's important to note that chartering your super yacht may limit your personal use of the vessel. Another option is sharing ownership. By sharing ownership with others, you can split the cost of purchasing and maintaining the super yacht. This option also allows you to share the use of the vessel with others. However, it's important to have a clear agreement in place with the other owners to avoid any conflicts. If you're looking to reduce the cost of operating your super yacht, there are a few things you can do. First, consider reducing the size of your crew. A smaller crew means lower salaries and benefits costs. You can also reduce fuel costs by slowing down your vessel and optimizing your route. Finally, consider purchasing a pre-owned super yacht. While a new super yacht may be tempting, a pre-owned vessel can offer significant cost savings. Just be sure to have the vessel inspected by a qualified professional before making a purchase. In conclusion, owning a super yacht doesn't have to break the bank. By considering these cost-saving options, you can enjoy the luxury and prestige of owning a super yacht without sacrificing your financial stability.

After exploring the various costs associated with owning a super yacht, it's clear that this is not a cheap endeavor. From the initial purchase cost to the ongoing maintenance and operating expenses, owning a super yacht requires a significant financial investment. However, for those who can afford it, the benefits of owning a super yacht can be unparalleled. Despite the high costs, there are ways to reduce the financial burden of owning a super yacht. Chartering and sharing ownership are two options that can help offset some of the costs. While these options may not be feasible for everyone, they are worth considering for those who want to enjoy the benefits of owning a super yacht without breaking the bank. Ultimately, whether owning a super yacht is worth the cost is a personal decision. For some, the luxury and freedom that comes with owning a super yacht is priceless. For others, the high costs simply aren't worth it. It's important to carefully consider all of the costs and benefits before making a decision about whether to invest in a super yacht.

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The cost of owning a superyacht in 2024

Written by Chloe - Thursday, April 06, 2023

Superyacht sales  surged  during the COVID-19 pandemic, and there’s no sign of this slowing down as the demand for superyachts is  set to increase  over the next 10 years.   

There are currently  15,000 yachts  worldwide that are large enough to require a professional crew. A clear insight into how much the luxury yacht industry is thriving, despite their eye-watering price.

Given the exclusivity of the superyacht market, there’s limited information available on exactly how much they cost to own. So, we’ve dug into the details for you. Here you’ll find how much it costs to buy and maintain a superyacht in 2024. 

Building a superyacht is no mean feat. Stuart Bray, Director of personal yacht brokerage firm  Bray Marine International  talked us through the build process, which is as follows:

• The exterior and interior designers are selected
• A shipyard is chosen ahead of the build
• The hull is always constructed first, followed by the fitting of the engines, running gear, water treatment, A/C, and pumps
• The superstructure is built and attached to the hull
• The interior fit-out takes place
• The exterior is painted
• Sea trails are carried out
• The yacht is handed over for warranty work

It sounds simple enough, but building a custom superyacht costs an eye-watering £1.5m per m² on average and takes up to  three to four years .

Many prospective owners choose to purchase a second-hand superyacht, which costs £20m ($24m) on average, according to Rightboat , but the cost increases dramatically if any customisation takes place.

Fitting out a new or used vessel costs around £35m, but this can vary massively depending on size.

The overall operating cost of running a superyacht is 20% or more of its original price. So, a vessel costing £1bn will set you back £200m per year after paying for fuel, dockage, crew, maintenance, insurance, etc.

Just under a decade ago, the operating cost was around 10% of a vessel’s original price, demonstrating a huge increase in running costs due to soaring inflation. 

Fuel is one of the biggest superyacht costs starting at £2,000 per hour and over £24,000 per overnight cruise. A 70-metre vessel is estimated to use around 500 litres of fuel per hour.

Annual fuel costs were estimated at around £327,000 ($400,000) back in 2012 but are now estimated to hit £419,000, representing a 25% increase overall.

Bray of  Bray Marine International  says a 60m yacht will have a 16-person crew, setting the owner back around £1.2m per year based on industry-standard pay rates. Owners of superyachts of 100m and beyond will pay significantly more to staff their vessels.

Bray also states the annual operating costs of a superyacht are as follows—12% for the first four years, 15% for the next three years, and 20% annually from then onwards. 

They must come out of the water every five years for routine maintenance such as painting, underwater work, gear checks, and antifouling. 

This equates to 10-12% of the vessel’s original price, so a superyacht that costs £1bn would require around £1m of maintenance work per year. 

Insurance costs are difficult to pinpoint as many factors determine this, such as value, cruising area and usage, but a superyacht costing £1bn could cost £8m or more to insure. 

Alison Melia, a marine insurance specialist at  Insure4Boats , says that fire, theft, loss of tender, onboard injury, and collisions are the most common claims received from yacht owners. 

Not all superyachts are created equal. While a 60m vessel is enough to impress most people, they are easily surpassed by those purchased by some of the world’s wealthiest individuals.

The longest superyacht on our list is a whopping 183m and comes with a price tag of £300m, just to put their sheer size and annual running costs into perspective.

Superyacht costs go far beyond the initial build or purchase price, especially when used as a base for luxury holidays or experiences such as the Cannes Film Festival.

A two-week holiday in Marbella could cost you £60,046 in dockage alone, without considering the cost of fuel or refreshments. It’s easy to see how superyacht owners can rack up almost £300,000 in dockage fees per year on average.

Building & purchase costs: https://braymarineinternational.com/

https://www.rightboat.com/blog/the-real-costs-of-owning-a-superyacht

https://www.burgessyachts.com/en/editorial/how-long-to-design-a-yacht

VAT: https://www.superyachtnews.com/owner/considering-a-superyacht-think-about-vat

Operating cost: https://www.worldwideluxuryyacht.com/blog/real-cost-to-own-a-yacht/

https://www.workonasuperyacht.co.uk/yacht-blog/2015/1/3/what-does-it-cost-to-run-a-super-yacht

https://www.superyachtcontent.com/superyacht-crew-lifestyle/yachts-and-fuel-how-much-do-they-really-consume/

http://www.denisonyachtsales.com/2012/06/the-various-costs-of-owning-a-boat-or-yacht/#sthash.SMvlyv8a.dpuf

Dockage: https://www.investopedia.com/articles/investing/082015/can-i-afford-super-yacht.asp

Crew: https://braymarineinternational.com/

Insurance: https://www.worldwideluxuryyacht.com/blog/real-cost-to-own-a-yacht/

Maintenance: https://www.rightboat.com/blog/the-real-costs-of-owning-a-superyacht

Marinas: https://www.marineinsight.com/boating-yachting/yacht-marinas-in-the-world/

https://www.seesainttropez.com/marinas/

https://www.sail-world.com/Australia/Ranking-The-worlds-15-most-expensive-marinas/-83130?source=google

https://barcheamotore.com/quali-sono-i-porti-piu-cari-del-mediterraneo-lo-svela-unindagine/this/?lang=en#:~:text=With%20a%20berthing%20fee%20of,expensive%20marina%20in%20the%20Mediterranean .

https://www.portofinoyachtmarina.com/en/rates/

https://www.charterworld.com/news/top-10-expensive-marinas

https://www.yachting-pages.com/articles/top-15-elite-superyacht-marinas-worldwide.html

Cannes Film Festival: https://www.cornucopia-events.co.uk/cannesfilmfestival/

https://www.insider.com/inside-expensive-hotel-le-majestic-cannes-film-festival-photos-2021-7

https://www.theguardian.com/news/2022/apr/22/secrecy-sex-and-sun-captain-reveals-life-aboard-superyachts

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How much does a yacht cost | ultimate breakdown guide.

 October 14, 2019

Complete guide to “How much does a yacht cost?” including superyachts and megayachts. Includes the cost of owning and operating a yacht. Yachts and superyachts are symbols of success. They appeal to wealthy individuals but are also extremely useful business assets. In this article, we’ll explore how much does a yacht cost. Also, we’ll answer how much does a superyacht cost and how much does a mega yacht cost. Then we’ll identify additional yacht costs such as fees and taxes. Next, we’ll give example breakdowns of the price of yacht and the price of a superyacht. Finally, we’ll explain how Assets America ® can help fund your transaction, and then answer frequently asked questions regarding the cost of yacht. Note that we’ll devote a separate article to yacht operation and maintenance costs. This article focuses on how much does it cost to buy a yacht.

How Much Does a Yacht Cost?

To know the context for how much does a yacht cost, we define some important terms.

Yacht Terms

• Yacht: A sailing or powered watercraft between 39 and 78 feet in length, accommodating up to 6 guests.
• Superyacht: A luxury yacht ranging in size from 78 to 200 feet in length, accommodating 6 to 12 guests.
• Megayacht: A luxury yacht greater than 200 feet long holding more than a dozen guests.
• Cabin Cruiser : A luxury powered boat between 23 and 38 feet in length.
• Day Sailing Yacht: Small yachts, often with a retractable keel, daggerboard , or centerboard and no cabin.
• Weekender Yacht: Medium-sized yachts, typically up to 31-feet long. Usually, they have lifting keels or twin keels allowing shallow-water operation for two-to-three-day journeys. Normally, weekender yachts have a simple cabin sleeping two to four passengers along with a small galley.
• Cruising Yacht: The most common private yacht, with good handling, onboard comfort, sufficient interior space, and capable performance. Typically, they have a teardrop-planform hull with a deep single-fin keel.
• Luxury Sailing Yacht: Larger yachts powered by wind and engines, with many luxury features.       Typically, yacht makers construct these boats with fiberglass hulls and plenty of automation, lighting, navigation aids, hot water, and more.
• Racing Yachts: Yachts optimized for fast sailing, with heavy and deep bulb keels, tall masts, and large sails.

Average Cost of Yacht

New yachts over 100-feet long have an average price of a yacht equal to $1 million per 3.3 feet in length. In other words, a 100-foot yacht will, on average, cost more than $30 million. Older yachts below 85 feet are less expensive. For example, an 84-foot yacht originally built in 2002 and renovated in 2015 sold for $1.45 million.

The average price of a yacht that is preowned, entry-level, and in the 30 to 35 foot range, is about $100,000.

How Assets America ® Can Help

Whether you need to borrow $20 million or $1 billion to acquire your yacht, Assets America ® can most assuredly help.  We can arrange short-term or long-term financing for the purchase or refit of yachts, superyachts and megayachts. We can provide financing much more rapidly than most typical funding sources do, and we can arrange financing even if your bank declines.  Call us today at 206-622-3000 for a confidential consultation, or simply fill out the below form and expect and prompt response!

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How much does a superyacht cost.

Superyacht prices are high but variable. For example, the world’s most expensive superyacht (the History Supreme) has a price of $4.5 billion. And at only 100 feet, it is too small to qualify as a megayacht, even though it certainly has a mega-price! On the other hand, a world-famous golfer purchased a 155-foot superyacht for $20 million, a sweet deal. The average price of a superyacht is $275 million.

How Much Does a Megayacht Cost?

The most expensive megayacht, measuring in at 536 feet, cost $1.5 billion. A 1990, 344-foot megayacht can be yours for $210 million. So, the prices of megayachts can vary greatly. In other words, there is no clear answer to how much does a mega yacht cost.

Video:  Million Pound Mega Yachts for Sale – Documentary 2019

Additional Costs of a Yacht

A few states don’t have sales tax: Delaware, Montana, New Hampshire, Oregon — and to some extent Alaska. If you buy a yacht in any other state, you’ll owe state sales tax. On a $1 billion yacht purchase, a state like Texas with 6.25% sales tax will collect $62.5 million. You can buy a yacht in a state without sales tax and use it in another state. However, you will eventually have to pay a use tax. Florida caps yacht sales tax at $18,000, but California has no cap.

Municipalities that charge local sales tax could add a percentage point or two to your tax bill.

Most states also assess property taxes on yachts. Marinas may assess a tax on boat slips. Some states will refund fuel taxes on yachts since they don’t use roads.

Yachts with bathroom, eating, and sleeping facilities qualify as second homes. You can deduct the interest on the yacht’s mortgage, but national tax law caps the deduction at $750,000.

A yacht purchased for business purposes is a capital asset that you can depreciate. This would apply to a charter, rental, or fishing yacht that you use to generate income. If you buy a used business yacht for $1 million or less, it might qualify as Section 179 property. If so, you can deduct the full price in the year of purchase.

There are some minor fees you may have to pay when you acquire a boat. For example, you may have to register your yacht with the International Registry, which has fees of $550 to $1,500. Also, you may pay an annual tonnage tax, a ship radio station license fee, and certificate of insurance. Other fees include those for :

• An annual Maritime Security and Compliance fee
• Private Yacht Limited Charter Compliance Certificate
• Minimum Safe Manning Certificate
• Continuous Synopsis Record (CSR) Document
• Annual Yacht Service
• Intended Registration and Vessel Under Construction Registration

Cost Breakdown

When you want to know how much does a yacht cost, you need to know the cost factors. A yacht’s price directly ties to its construction costs, which include:

• Design: The design requires expertise in marine and mechanical engineering. For example, the designers must undertake many stability and hydrodynamic studies. Also, the design must be esthetically pleasing.
• Construction: It can take many months to construct a large yacht. You must factor in materials, equipment, and labor. Luxury-yacht buyers may want expensive and/or rare materials. One yacht, the infamous History Supreme, contains dinosaur fossils and meteorite stone! But less outlandish materials, such as fine woods and precious metals, still contribute to high construction costs.
• Engine: The number and power of yacht engines can greatly impact cost. Naturally, all things being equal, a sailing yacht should cost less than a comparable motor yacht. It requires huge power to propel a large megayacht, and an elaborate engine room to operate those engines.
• Interiors: Large yachts have many rooms, including galleys, heads, bedrooms, meeting rooms and more. In addition, electronics are important cost items.

FAQs — How Much Does a Yacht Cost?

How much does a 50-foot yacht cost.

A 50-foot yacht is a good candidate for weekend duty. A 2014 convertible sportfish costs just under $2 million. An example price of yacht (51-foot 2013 Azium Magellano 50) is $670,760. A 52-foot 2017 Carver C52 Command Bridge sells for $1,149,000.

What is the cost to build a yacht?

Mid-level yachts cost about $25 to $35 per pound to build. Higher-level-yachts have average construction costs pf $45 to $65 per pound. The top vessels built with exotic materials and hi-tech systems can cost $80/pound to build.

How much does a 60-foot yacht cost?

A 60-foot yacht is about the largest size that an owner operates. A new Hatteras M60 can easily cost around $3 million. However, you can get a 2007 60-foot Sunreef 62 for $735,000.

How much does a 100-foot yacht cost?

Superyachts in this range contain many amenities. You can buy a new 100-foot AB 100 for just over $8.8 million. But let’s face it, you can spend hundreds of millions on big yachts. Your only limits are your imagination and most importantly, of course, your wallet!

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Ronny was a pleasure to work with and is extremely knowledgeable. His hard work was never ending until the job was done. They handled a complex lease and guided us through entire process, including the paperwork. Not to mention a below market lease rate and more than all the features we needed in a site. We later used Assets America for a unique equipment financing deal where once again Ronny and team exceeded our expectations and our timeline. Thank you to Assets America for your highly professional service!

Great experience with Assets America. Fast turn around. Had a lender in place in 30 minutes looking to do the deal. Totally amazing. Highly recommend them to anyone looking for financing. Ronny is fantastic. Give them a call if the deal makes sense they can get it funded. Referring all our clients.

Assets America guided us every step of the way in finding and leasing our large industrial building with attached offices. They handled all of the complex lease negotiations and contractual paperwork. Ultimately, we received exactly the space we needed along with a lower than market per square foot pricing, lease length and end of term options we requested. In addition to the real estate lease, Assets America utilized their decades-long financial expertise to negotiate fantastic rates and terms on our large and very unique multimillion dollar equipment purchase/lease. We were thankful for how promptly and consistently they kept us informed and up to date on each step of our journey. They were always available to answer each and every one of our questions. Overall, they provided my team with a fantastic and highly professional service!

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Assets America is a great company to work with. No hassles. Recommend them to everyone. Professional, fast response time and definitely gets the job done.

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Questionnaire

• Cars, Jets & Yachts

How Much Does a Yacht Cost to Build?

The cost to build the world's largest superyachts is a closely guarded secret.

By Kim Ayling

The freedom that comes with owning your own yacht is unrivaled and, if you have the funds to do so, the joy of building your own is even better. However, with prices easily creeping up into the hundreds of millions, and even billions, we ask the all-important question: how much does a yacht cost to build?

Unsurprisingly, the total cost to build the world’s most famous yachts is a closely guarded secret, but there are a few fairly reliable estimations sailing around the industry. One standard way to work out how much a yacht will cost to build is price per gross weight. However, while this can be a helpful guide in valuing yachts, it doesn’t always correlate.

For example, it is thought that Lurssen’s 590-ft Azzam , which features a bulletproof owner’s cabin, an onboard golf practice suite and a submarine, cost in the region of $600m to build. At approximately 13,136 gross tons (GT), that would have made her around $45,676 per GT.

REV , on the other hand, which while still in construction is set to surpass Azzam as the largest yacht in the world at an impressive 602ft, is estimated to be costing around $350m to build. Her weight is thought to be around 17,440 GT, putting her at $20,069 per GT. Clearly, biggest doesn’t always mean most expensive. So what does affect the cost of a yacht build?

[See also: How Much Does it Cost to Charter a Yacht?]

REV is thought to be costing around $350m / ©REV Ocean

Custom vs pre-designed yachts

Firstly, you need to decide the kind of yacht you want: custom or pre-design. Naturally, a custom yacht build will be more expensive. But, for that extra cost, you will get full control over the design, the finish and everything in between.

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A pre-designed yacht on the other hand will save you both money and time. This category of yacht is built based on an existing model, with finishing touches such as interiors, tenders and layout completed when she’s bought. Obviously, this leaves owners with a lot less freedom over their yacht, but it is considerably cheaper and can be delivered in a matter of months instead of years.

Choosing a yacht builder

The world of shipbuilding is dominated by a few key players. For a fully custom build, the likes of Lurssen, Feadship, Oceanco and Royal Huisman (among several others) rule the roost. With builders like this, you can expect to pay a higher price, but for that, you’ll receive years of experience, industry prestige, and cutting-edge technology and techniques.

The most prestigious shipyards will also inevitably have the most skilled team. The team involved in building a yacht is, to put it simply, vast. From start to finish, hundreds of pairs of hands will be involved in the process, with the key players including a yacht designer (interior and exterior), a naval architect and an engineer, as well as a huge team of skilled laborers. There will also be an owner representative working closely with the shipbuilder to ensure the project is delivered in time and to the buyer’s exacting standards.

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The cost of your yacht build will of course include the wages of each of the experienced people involved in making it, so if you want the best, expect to pay for it.

[See also: Discovering the World’s Most Exciting Superyacht Concepts]

Viva by Dutch shipyard Feadship / ©Feadship

What affects the cost of building a yacht?

Naturally, a huge variety of factors will impact the total cost of building a yacht. Size is of course one of the main considerations, but materials are another key factor that will dramatically impact cost. Aluminum, for example, is favored for being an impressively lightweight hull material but ton for ton, it is far more expensive than steel.

Onboard technology will also see the final cost creep up rapidly. Demand for smart yacht technology, for example, is continuing to grow, with more owners wanting to replicate the ease of voice control tools that they enjoy in their home, onboard their yacht.

And things that we might take for granted on land such as high-speed WiFi become more complicated – and more expensive – on the water. Kitting your yacht out with a satellite dish can set you back anywhere up to $50,000 which while doesn’t sound much in the grand scheme of a multi-million-dollar ship build, is just one of many hidden costs.

How much do yacht toys and tenders cost?

The yacht itself is just the start of the story when it comes to working out costs. On top of the build, potential owners will need to kit out their boat with all the latest toys and tenders – from submarines to helicopters – which can add a serious amount to your total.

For example, a self-drive submersible by Triton Submarines , which will allow owners to see the underwater world in a completely new way, will start at around $15m. Similarly, while you can pick up a low-grade, second-hand tender for a few thousand dollars, a top-of-the-range option will easily creep into the millions.

Ultimately, the only way to work out exactly how much a yacht will cost to build is to make a serious inquiry with a broker, who will be able to connect you with a yacht builder. From here, you can collaboratively work together to ascertain your budget and exactly how much your perfect yacht will cost.

[See also: The Most Innovative Yachts of the 21st Century]

Oceanco, who made the sleek Esquel, is one of the best yacht builders in the world / ©Oceanco

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How Much Does a Super Yacht REALLY Cost?

See our infographic.

Have you ever bought a lottery ticket and dared to dream of owning a super yacht? Our infographic gives you the low down on the most expensive yachts, who buys them and how much they have to pay to keep them afloat.

Are you interested in joining that illustrious group of yacht owners? This infographic will break down exactly what it will cost for you to have and maintain your very own super yacht. And if you thought parking a car was expensive, then you've never parked a yacht. 

Transcript - cost of maintaining a super yacht

Cost of maintaining a super yacht.

• The sea still remains a prime spot, allowing its explorers exclusive time off in the private surrounds of a super yacht, but owning a super yacht means not only initial capital outlay – often into tens, and sometimes hundreds, of millions – but also annual running costs that stretch well into seven figures. https://www.forbes.com/sites/timthomas/2013/03/27/where-roman-abramovich-david-geffen-and-lakshmi-mittal-choose-to-dock-the-worlds-most-expensive-marinas/
• Operating cost (yr.) – 10% of initial value https://online.wsj.com/articles/SB10001424052702304871704575159902263126816
• For an average-sized yacht of 45 metres, the maintenance price can range from anywhere between €2.5 million and €4 million per year. https://www.campdenfo.com/article/running-superyacht
• Fuel Usage (71m yachts) – 500L of diesel (hr.) https://online.wsj.com/articles/SB10001424052702304871704575159902263126816
• V.A.T. (Value Added Tax) – 15 – 25% of vessel’s value https://www.boatinternational.com/yacht-sales/buying-a-superyacht/
• $400,000 - fuel
• $350,000 – dockage
• $240,000 - boat insurance
• $1 million - maintenance and repairs
• $1.4 million - crew salaries
• https://www.denisonyachtsales.com/2012/06/the-various-costs-of-owning-a-boat-or-yacht/#sthash.SMvlyv8a.dpuf

Who Buys Super Yachts

• Super yachts are purchased by UHNWI or ultra high net worth individuals. A UHNW is someone with net assets over $30 million although some experts calculate with an amount of $50 million. It is estimated that the world population of UHNWI is around 200,000 individuals. https://www.superyachtfan.com/
• Of the 125 owners’ nationalities identified, 14 percent were Americans, followed closely by Russians. The biggest growth was in Asia, where 11% were delivered last year compared with 3% in 2011. https://www.bloomberg.com/news/2013-10-01/luxury-yachts-find-rich-asian-buyers-as-ranks-of-wealthy-swell.html
• Luxury yachts top the list of the 10 most expensive asset purchases ever recorded. Eight out of the 10 billionaires on this list own these luxury vessels. https://www.spearswms.com/news/the-pleasures-and-problems-of-owning-a-superyacht-4377179/#.VBxJwZSSymw
• 10% of the yacht purchase price is usually paid immediately. With the balance paid once the yacht and the all-important documentation has been formally handed over. https://www.charterworld.com/?sub=how-to-purchase-a-superyacht
• Many super-yacht owners keep their vessels for no more than three years before selling up. The new yacht is typically less than five years old and with a fuel range of at least 3,000 miles. https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aqL7mY2CZxDo
• In 2013, 355 superyachts were sold with a total combined price of $US 3.4 billion. The most expensive boat selling for $US 101 million.

The most expensive yachts

• Owner – Hamdan bin Zayed bin Sultan Al Nahyan
• Occupation – Emirati politician and royalty
• Cost – Unknown (Estimated $350M)
• Length – 141.00m (462'7"ft)
• Top Speed – 26 knots
• # of crew members – 56
• Some cues have been borrowed from a UAE navy frigate for increased security
• The doors have been made with carbon fibre, reducing weight
• An eco-friendly fuel based engine will empower the yacht to reduce carbon print
• Other hi-tech gadgets will include the SATCOM (satellite communication system), long-range underwater SONAR, and the night navigator used for when sunlight isn’t the most intense outside.
• https://www.bornrich.com/adm-shipyards-launches-141-meter-yas-superyacht-compete-worlds-largest-yachts.html

Project Azzam

• Owner – Khalifa Al Nahyan
• Occupation – president of the United Arab Emirates
• Cost – $600M
• Length – 180.00m (590'6"ft)
• Top Speed – 30 knots
• # of crew members – 50
• Much of this yacht is still confidential
• However, Azzam can be expected to be environmentally friendly with decreased carbon dioxide, noise and soot emissions, and enhanced fuel efficiency.
• Azzam is also expected to be equipped with facilities to utilise waste heat from the engine to operate the yacht's desalination system for drinking water.
• https://www.ship-technology.com/projects/azzam-superyacht/

The Rising Sun

• Owner – David Geffen
• Occupation – American business magnate
• Cost – $200M
• Length – 138.40m (454'0"ft)
• Top Speed – 28 Knots
• # of crew members – 45
• Steel hull and aluminium superstructure
• The engine is comprised of 4 MTU 20V 8000 M90 engines which can take the boat up to 28 knots of speed
• https://www.bornrich.com/top-12-high-tech-luxury-yachts.html

The Maltese Falcon

• Owner – Elena Ambrosiadou
• Occupation – founder of IKOS Ltd.
• Cost – $120M
• Length – 88.12m (289'1"ft)
• Top Speed – 19.5 Knots
• # of crew members – 18
• She has 21,800 h orsepower DEUTZ diesels, which will take her up to 19.6 knots with power
• Her engine room also hosts three gensets which provide rig handling as well as at-anchor power for all facilities
• The carbon fibre yard arms are all securely fastened on the mast, and do not swing like conventional yachts. Instead, the entire mast rotates.
• She has a sail furling mechanism that is run by an electric motor which differentiates it from any other type of rigging
• https://www.yachtforums.com/forums/perini-navi-yacht/13488-review-perini-navi-289-clipper-yacht-maltese-falcon-3.html
• Owner – Steve Jobs’ Family
• Occupation – Apple
• Cost – $129M
• Length – 79.25 m (260.0 ft)
• Top Speed – 22 Knots
• # of crew members – 22
• This ship is run using iMac’s
• A large pane of special glass runs around the ships side and bow to look like an Apple store
• https://www.bornrich.com/steve-jobs-yacht-venus-controlled-imacs-set-sail.html
• Owner – Alisher Usmanov
• Occupation – Russian oligarch
• Cost – $263M
• Length – 110.00m (360'10"ft)
• Top Speed – 21 Knots
• # of crew members – 47
• She was the first yacht in the world with particle filters on the main engine exhausts
• She has twin MTU diesel-electric main engines
• The combination of diesel electric propulsion (by the gensets and the thrusters) and conventional propulsion with CPP (Controllable Pitch Propellers), this means she is extremely efficient over long distances
• https://www.superyachtfan.com/superyacht_dilbar.html
• https://www.superyachttimes.com/editorial/67/article/id/2139
• Owner – Steven Spielberg
• Occupation – Film Director
• Length – 85.95m (281'11"ft)
• Top Speed – 20 Knots
• # of crew members – 23
• She has 'at anchor stabilisers' which work to increase onboard comfort at anchor and on rough waters.
• She has a projector which will throw an image onto the glass wall of an infinity pool acting as a make-shift cinema.
• Powered by 2 MTU (16V 595 TE70) 4,680hp diesel engines
• https://www.superyachts.com/motor-yacht-8582/seven-seas.htm
• https://www.yachtcharterfleet.com/luxury-charter-yacht-26256/seven-seas.htm
• Owner – Roman Abramovich
• Occupation – Russian businessman
• Cost – $500M
• Length – 162.50m (533'1"ft)
• Top Speed – 25 Knots
• # of crew members – 70
• The whole vessel is bullet and bomb proofed, and in case of an attack, there are five possible exits from the vessel
• She also has a missile defence system
• She has a 3 man ‘leisure’ submarine
• There are rumours that she is equipped with an ‘anti-paparazzi shield’ that is activated by camera flashlights
• https://www.superyachts.com/motor-yacht-4349/eclipse.htm
• https://www.charterworld.com/news/photos-of-the-largest-superyacht-eclipse
• Owner – Andrey Melnichenko
• Occupation – Russian Businessman
• Cost – $323M
• Length – 119.00m (390'5"ft)
• Top Speed – 23 Knots
• # of crew members – 42
• The unique shape of the boat is also known to cut through ice bergs
• Features a reverse bow and ‘tumblehome’ design making it extremely efficient through the water
• She features a number of security customisations including bomb proof windows, over 40 CCTV cameras, motion sensors, biometric fingerprint entry for some areas and is rumoured to have an escape pod in case of emergencies
• https://en.wikipedia.org/wiki/A_(yacht)
• Owner – Sultan Qaboos
• Occupation – Sultan of Oman
• Cost – $300M
• Length – 155.00m (508'6"ft)
• # of crew members – 154
• Features 2 MTU 10,988hp diesel engines
• This yacht is shrouded in mystery as guests have to arrive by helicopter and no one outside the sultan’s direct court has seen the interior of this boat
• https://www.yachtcharterfleet.com/luxury-charter-yacht-22883/al-said.htm
• https://www.luxuryyachtcharter.org/most-amazing-yachts.php

Want to buy a superyacht?

So by looking at the results, my 100m long, 25 knots top speed and 50-strong crew super yacht should cost around $275 million on average.

Yacht insurance from Towergate

For information on our yacht insurance check out our dedicated yacht insurance page  or call 0344 892 1987 to speak to a specialist adviser.

About the author

Adam Summersby is a respected leader with 11 years’ varied experience in niche personal and commercial lines insurance, including caravan, site operators and excess reimbursement, with proficiency in leadership, sales and account management.

Date: October 17, 2014

Category: Boat

At a Glance

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It’s expensive to buy a superyacht — but it’s also expensive to maintain it.

Just ask Ian Malouf, the Aussie billionaire behind Dial-a-Dump who is also known as Australia’s superyacht king.

He and his family own around 11 yachts that average about 30 metres in length.

One of his most treasured is the 73 metre Coral Ocean he bought for about $US50 million ($A74 million) in 2019 before spending another $US50 million refurbishing it — costing him around $A150 million in total.

It features a spa pool, private treatment room with infra-red sauna, teppanyaki grill, pizza oven, indoor-outdoor gym and an on-board beauty therapist.

But the bills to run a yacht are not for the faint-hearted.

REVEALED: The Australian reveals the richest 250 Australians, worth a combined total of $531 billion

“You could be looking at a payroll of $250,000 per month,” Mr Malouf tells The Australian .

“Then you’ve got extras on top of that, which could be another $300,000.

“We can staff up to 28 and it is usually two months on and two off. Some can be one month on and one off.

“The boats do get older as well, so they need maintenance. Overall, that can be millions of dollars. It definitely is a case of ‘buying them is one thing, running them is another’.”

A rule of thumb is that annual running costs will generally be about 10 per cent of the price a billionaire shells out for their vessel, which is why chartering the boat to others can be cost effective, according to the publication.

If you think that is expensive, Amazon honcho Jeff Bezos’ $A740 million superyacht Koru , codenamed Y721, costs about $US25 million ($A37 million) a year to run, according to the New York Post .

The 127 metre yacht can accommodate 18 guests – and requires a crew of 40 sailors.

Mr Malouf, who made The Australian’s The List - Australia’s Richest 250 , sold his Dial-a-Dump business in 2021 to Bingo Industries for a whopping $557 million cash and shares deal.

He remains on the privatised Bingo board and still has waste property holdings in Sydney’s east — but most of his time is devoted to his superyacht chartering business Ahoy Club, which is run by his daughter Ellie Malouf.

The business rents out his collection of boats, including his beloved Coral Ocean for about $A1.2 million per week. It was booked out for the entire summer. Some A-lister clients include Canadian rapper Drake .

He chartered the megayacht in July last year for about $A1 million enjoying a European holiday with friends.

“Before we got it, it was going for €350,000 ($A567,000) per week,” Mr Malouf told The Australian .

“We were going to spend €5 million ($A8 million) on a refit but decided to go for a big refurbishment for €35 million ($A56 million). But the amount we’re getting for it now shows that sort of investment can pay off.”

Included in Mr Malouf’s collection is a 54 metre superyacht Mischief that’s usually based in Sydney.

But you can understand why Coral Ocean is the object of his affections. He said the rooms are so big, you’ve got a kingsize bed in one with his and hers bathrooms and dressing areas, while the guest areas have four big bedrooms and you can get straight out of the sauna and jump into the water.

And that’s not even mentioning the jet skis, inflatable water slides and paddle boats.

The rooms also feature high-end beauty products such as Dior and iKou.

Mr Malouf, who purchased the yacht on a whim at the Monaco boat show in 2019, said you could easily hang out with 12 other people but you could also have your own space as it’s big enough to not get in each other’s way.

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“The bow is the size of most boats. You can go up and have a party. Over a week you can hang out in seven different places. You can sun bake. You don’t have to get off the boat,” he told The Australian.

The pricey superyacht includes a sun lounge with a glass-bottom spa pool, a sky lounge with a full-service bar and a sound system, according to the boat’s website .

And let’s not forget there are 22 crew members including beauty therapists that can give massages and manicures, a private chef and several stewardesses and deckhands, and of course, a captain.

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Yacht Operating Cost Calculator

How much does it cost to operate a yacht? The cost of operating a yacht can vary significantly depending on factors such as size, type, location, maintenance, crew salaries, fuel consumption, and insurance. It could range from tens of thousands to millions of dollars per year.

What is the annual cost of owning a yacht? The annual cost of owning a yacht includes expenses like maintenance, insurance, dockage, crew salaries, fuel, and other operating costs. For larger yachts, the annual costs can easily reach hundreds of thousands or even millions of dollars.

How much does it cost to run and maintain a yacht? The cost of running and maintaining a yacht depends on various factors, including the size of the yacht, its age, the type of maintenance required, and the level of usage. Regular maintenance and repairs can be a significant ongoing expense.

How much does it cost to run a private yacht? The cost to run a private yacht can vary widely based on factors like size, fuel consumption, crew salaries, maintenance, and other operational expenses. It could range from tens of thousands to hundreds of thousands of dollars per year.

Can a yacht pay for itself? In some cases, yacht owners may charter their yachts to guests to offset some of the operating costs. This can help a yacht generate income, but it’s unlikely to fully cover all expenses and make a profit.

Is it profitable to own a yacht? Owning a yacht is generally not considered a profitable investment. While chartering the yacht to guests can generate some income, the overall expenses of owning and maintaining a yacht often outweigh the potential income.

Are yachts a good investment? Yachts are generally not considered good financial investments. They are luxury assets that come with high costs and depreciate over time. Yacht ownership is more about lifestyle and enjoyment rather than financial return.

How often do owners use their yachts? The frequency of yacht usage varies among owners. Some may use their yachts frequently, while others might only use them occasionally, like during vacations or special events.

What is the average yacht salary? The average salary of yacht crew members can vary based on their positions and experience. Captains, engineers, and senior crew members generally earn higher salaries compared to entry-level positions.

What is the average net worth of yacht owners? The net worth of yacht owners can vary significantly, but it is typically in the high millions or even billions for those who can afford to own large yachts.

How many miles does a yacht last? With proper maintenance, yachts can last for several decades. The lifespan of a yacht depends on the construction quality, materials used, and how well it is taken care of.

How many crew for a 100-foot yacht? A 100-foot yacht typically requires a crew of 3 to 5 members, including a captain, engineer, deckhands, and stewards/stewardesses, depending on the yacht’s operations and owner’s preferences.

Why are yachts limited to 12 guests? Yachts are often limited to 12 guests for safety reasons and to comply with maritime regulations. The number of guests is usually determined by the yacht’s size and safety equipment onboard.

Do private yacht owners tip their crew? Tipping practices can vary, but it is not uncommon for private yacht owners to give gratuities to their crew members for exceptional service.

Can you permanently live on a yacht? Some people choose to live on yachts as their primary residence. However, this lifestyle comes with unique challenges and considerations, including docking fees, maintenance, and access to essential services.

Do you have to pay taxes if you live on a yacht? The tax implications of living on a yacht can vary based on the yacht’s location, the owner’s residency, and other factors. It’s essential to consult with tax professionals to understand the specific tax obligations.

What tax breaks do you get for owning a yacht? Tax breaks for yacht ownership may vary depending on the country and its tax laws. Some countries offer tax incentives for yacht owners, such as reduced VAT rates for chartering or ownership.

Can you take a mortgage out on a yacht? Yes, it is possible to take out a mortgage on a yacht. Yacht financing is available through specialized lenders, similar to other types of asset financing.

Why do the rich buy yachts? For the wealthy, buying a yacht can be a status symbol and a way to indulge in a luxurious lifestyle. Yachts also offer privacy, freedom to travel, and the opportunity to entertain guests in a unique setting.

Do yachts go down in value? Yachts generally depreciate over time, like most luxury assets. However, the rate of depreciation can vary depending on factors such as maintenance, age, and market demand.

What is the point of buying a yacht? The main reasons for buying a yacht include leisure, travel, privacy, entertainment, and enjoying the luxury of the yachting lifestyle.

What are the disadvantages of a yacht? Disadvantages of yacht ownership include high operating costs, maintenance expenses, depreciation, limited usage, and the need for experienced crew.

How quickly do yachts depreciate? Yachts can depreciate quickly, especially during the first few years of ownership. Afterward, the rate of depreciation may slow down, depending on the market demand and condition of the yacht.

What time of year is best to buy a yacht? The best time to buy a yacht can vary based on the market and individual circumstances. Some owners prefer to sell in the offseason, while others might list yachts when demand is high.

How to make money with a yacht? Making money with a yacht can involve chartering it to guests, participating in regattas or events, offering filming locations, or using it for commercial purposes when not in personal use.

Is it cheaper to buy or build a yacht? Building a custom yacht can be more expensive than buying a pre-owned one. Buying a used yacht is generally more cost-effective, but it depends on individual preferences and requirements.

How does it feel to own a yacht? Owning a yacht can provide a sense of luxury, freedom, and exclusivity. However, it also comes with responsibilities and significant costs for maintenance and operations.

Do yacht owners sleep with crew? Relationships between yacht owners and crew members vary and depend on individual situations and personal boundaries. It is essential to maintain professionalism and respect onboard.

Where do rich people keep their yachts? Rich people keep their yachts in various places, including private marinas, superyacht berths, or while cruising in different regions around the world.

What is the average age of a yacht owner? The average age of yacht owners can vary, but many yacht owners tend to be in their 50s or older, as yacht ownership often requires significant financial resources.

How much does a captain make on a private yacht? The salary of a captain on a private yacht can vary based on the yacht’s size, the owner’s preferences, and the captain’s experience. It can range from tens of thousands to over $100,000 per year.

What is Captain Sandy’s salary? As of my knowledge cutoff in September 2021, Captain Sandy Yawn from the reality TV show “Below Deck Mediterranean” reportedly earns a salary of around $120,000 to $130,000 per charter season. However, salaries can change, and it’s always best to verify up-to-date information.

How much do yacht pilots get paid? Yacht pilot salaries can vary widely depending on their experience, the size of the yacht, and the owner’s preferences. Experienced yacht pilots can earn significant salaries.

How many yachts does Bill Gates own? As of my last knowledge update in September 2021, Bill Gates owns several yachts, including the 112-meter superyacht “Luminary” and a luxury yacht named “Aqua.”

Is it cheaper to live on a yacht? Living on a yacht can be cheaper than traditional homeownership in some cases, especially if the yacht owner travels frequently and avoids high-cost housing markets.

What is the largest yacht that doesn’t need a crew? There are some larger yachts, typically under 50 feet, designed for easy single-handed operation and may not require a dedicated crew.

What happens if a yacht runs out of fuel? If a yacht runs out of fuel, it can be stranded at sea until assistance arrives. Proper fuel management and planning are essential to avoid such situations.

Can you take your yacht anywhere? Yachts offer the freedom to travel to various destinations, but they are subject to maritime laws, regulations, and restrictions based on their flag state and the countries they visit.

How big is the gas tank on a yacht? The size of a yacht’s fuel tank varies widely depending on the yacht’s size and type. Larger yachts can have fuel tanks with capacities of thousands of gallons.

What size yacht requires a captain? The size of the yacht that requires a captain can vary based on local regulations and the owner’s preferences. In many regions, yachts over a certain length, such as 75 feet or more, require a licensed captain.

Can a 100-foot yacht cross the Atlantic? Yes, a 100-foot yacht can cross the Atlantic Ocean with proper planning, crew, and navigational equipment. Many yachts of this size are equipped for long-range cruising.

How much does a 100-foot yacht captain earn? The salary of a captain for a 100-foot yacht can vary based on experience, qualifications, and the owner’s preferences. It can range from tens of thousands to over $100,000 per year.

GEG Calculators is a comprehensive online platform that offers a wide range of calculators to cater to various needs. With over 300 calculators covering finance, health, science, mathematics, and more, GEG Calculators provides users with accurate and convenient tools for everyday calculations. The website’s user-friendly interface ensures easy navigation and accessibility, making it suitable for people from all walks of life. Whether it’s financial planning, health assessments, or educational purposes, GEG Calculators has a calculator to suit every requirement. With its reliable and up-to-date calculations, GEG Calculators has become a go-to resource for individuals, professionals, and students seeking quick and precise results for their calculations.

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The real cost of owning a yacht

Looking to buy a yacht? Before you take the plunge, it is important to consider all the real costs associated with full ownership that you may not be aware of. It is essential that you factor in what the yearly running cost and maintenance costs will be - this is as important as the initial purchase price. This is why shared ownership is often something to consider. 

When you own a yacht 100%, consider that a substantial percentage of your investment will be for time that you are not using the yacht at all. The real cost of owning a yacht includes taxes, insurance, mooring fees, crew, dockage fees, maintenance, capital improvement projects, outfitting costs, and more. Your yacht incurs expenses year-round, while you may only be enjoying it a few months or even weeks, out of the year. What if, instead, you could own a 50% share of the same yacht (or better yet, an even bigger yacht with more amenities)? With shared ownership, you can do just that - your investment will be used for your own enjoyment and, at a lower price, you can even benefit by upgrading your yacht experience. 

Let’s walk through a sample yacht and the yearly running costs with full transparency of a 10-million-dollar yacht. Your major costs will be yacht crew, dockage, fuel, and maintenance. Please understand everything is variable based on those decisions plus the age of your yacht.

Owners can expect to spend about 10-15% of the purchase price annually on operating and maintaining a yacht. That's $1-1.5 million a year for a $10 million yacht. The bigger the boat, the more crew and salaries you need. There are also other crew costs, like medical and liability insurance, training, and uniforms.

When you are not exploring the world or sunning on the deck in St. Barts, the yacht needs a place to dock. Dockage costs vary depending on how big the boat is and how desirable the marina is. You can lease a dock monthly or purchase a dock. 

Like most things, yachts get wear and tear — they require regular maintenance and repairs. Routine maintenance can cost roughly 2% of the boat value after the yacht's first year, and around 7.5% of the boat's value when the yacht is 10 years old. That is not including surveys and refits.  

There's also insurance, which is important for not just the yacht but also the tender. Also, don't forget miscellaneous expenses, such as communications, (phone, internet, navigation and Satellite TV) and administration.

Sample 10 million Dollar yacht running costs:

Annual Operating Expenses $1,250,000

Capital Repairs & Reserves  $150,000

Total Expenses $1,400,000

Share it, charter it, or both.    

An alternative option would be splitting the cost of this hypothetical yacht in half to pay $5 million for your yacht initially, and pay $750,000 a year in running costs. It is recommended to use the yacht up to 14 weeks a year per owner for a total of 28 weeks. Or opt to charter out the weeks you do not use it to defray the running cost. AvYachts can help you design the program and will implement it for you – you simply show up as the guest. Whether you prefer to incur all the real costs of ownership of your own yacht, or opt for shared ownership, we can create a custom program. 

Connect with our Luxury Yacht Advisor to learn more. 

AvYachts is the expert in yacht share brokerage. Whether you’re looking to sell a share of your yacht to a like-minded partner, or you want to buy a share of a yacht, our dedicated team of yacht brokers and veteran matchmakers is here to guide you every step of the way.  Let us match you with just the right yacht, just the right partners and just the right ownership structure for you. Yacht to the fullest without the full costs of ownership. 

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How much does it cost to own a yacht?

By Rob Bowman | Posted On Oct 28, 2019 Updated On Dec 12, 2023

Since we opened our doors in 2002, United Yacht Sales has worked with thousands of boaters who hold aspirations of owning a yacht. A yacht can mean different things to different people, especially when discussing the difference between intended use such as fishing, day boating, entertaining, and long-distance cruising. Just as there are many applications for how you plan to use your boat, there are also many boat builders working to design the perfect yacht to meet a specific niche in the marketplace. With nearly 1,000 transactions completed each year, United brokers commonly hear the same questions asked as new boaters begin their research into finding the perfect vessel. The yacht's purchase cost isn't the only expense though and other factors need to be considered.

What does it cost to own a yacht? "The cost of ownership for a 60-foot, $1 million yacht is going to be about 10% of its value, or $100,000 per year if it's over ten years old," said Peter Schmidt , Founder of United Yacht Sales. "You can pretty well estimate that for a later model boat of this size, in the Florida market, your general costs are going to be in that range. This would include things like routine maintenance, repairs, dockage, additional supplies, and the cost of either a professional captain or a yacht manager. If it's a newer boat, the annual costs will be less, however preventative maintenance is still very important."

If you're new to boating and this is your first yacht purchase, it makes sense to discuss these questions with your yacht broker:

• Where do you plan to keep your yacht?
• Are you going to run the boat yourself or will you need a captain?

How much does it cost to maintain a yacht?

• How much does it cost to fuel your yacht?
• Is buying a yacht a good investment?

The answers to these questions vary with many factors influencing the cost of each. Simply the location of where you plan to keep and use your yacht can raise or lower your monthly spend to keep your boat maintained in the best possible condition.

( Seen below: The below 2009 Viking 50 is an example of a sportfishing boat recently sold for approximately $1 million. Boat prices have continued to increase since 2020 and are just now beginning to stabilize. )

How much does it cost to store a yacht at a marina?

One of the first and most important questions to answer before you buy a yacht revolves around storage. If you own a water-front home with a dock big enough to safely store your yacht, the savings are substantial. However, if you plan on keeping your vessel at a marina, those costs need to be included in your annual budget. United Yacht broker Christopher Cooke  owns his own yacht management company and often helps his clients find a space at a marina. "The cost of keeping your yacht at a marina really varies by location," said Chris. "You are charged per foot, but that cost can change not only depending on what county you're in, but also how many amenities are at the marina."

"In Florida, the marinas in Martin County for example, can be half the cost of Miami-Dade," continued Christopher. "It really all depends on your boating plans, where you live, and how far you're willing to travel to be at your boat."

Sailfish Marina of Stuart is a popular yacht storage facility in Martin county that is the closest marina to the St. Lucie Inlet also with accommodations for a 60-foot and over boat. There is a fuel dock at the marina as well as a tackle shop.  If you purchase a slip for a full year on an annual contract, the cost is $20-$22 per foot of your "Length Overall" . This is important, because while some boats might be called a "60", they may very well be 62 feet in length and cost more. Additionally, if you want electricity, water, and waste removal, it can cost you an extra $175 per month for one 50amp line.

Just 40 miles to the south, in the heart of Palm Beach County, sits Palm Harbor Marina. With over 200 slips, some of which can accommodate a 250-foot superyacht and state-of-the-art Marinetek concrete floating docks, the cost is much higher. Using the same example of a 60-foot cruising yacht, the cost of storage is approximately $5,760 per month, along with a $500 per month utilities fee. "With a place like Palm Harbor Marina, boaters are paying for the amenities and the location," continued Chris. Palm Harbor Marina features a yacht club with a hospitality bar and media center, a complete fitness center, game room, deli, concierge, as well as being right next to the best restaurants and nightlife in Palm Beach.

(Seen below: A yacht is welcomed by the professional staff that includes golf cart service. Photo credit: Palm Harbor Marina website.)

"For a yacht that's 60-feet, later model year, and with average usage, you can expect to pay $60,000 per year in preventative maintenance costs ," said Cooke. "And by average use I mean 150-200 hours per year. But that's assuming nothing goes wrong and has to be replaced. Typically you're looking at $4 per foot to have someone dive it, another $4 per foot to have it washed regularly, and then another $1,000 or so to go through and do a full systems check. These costs can definitely vary though depending on the boat and location. Because of inflation with the price of materials and labor, these costs have really gone up over the last 2 years." 

The best advice Christopher has for boat owners of this size is to hire a yacht management company. Yacht Management companies often oversee anywhere from 10 to 50 boats at any one time, Christopher currently has 30. The yacht manager will ensure the boat is clean, all systems checked like transmission and generators, the running gear checked, oil changes are done, and that nothing is starting to fail. Preventative maintenance can save thousands of dollars in the long run of yacht ownership and will end up paying for itself. Many yacht owners have work or other hobbies that take their time away from being able to devote to the proper maintaining of their vessel. The result can be negligence in the upkeep of the boat, causing systems to fail, and end in more costly repair bills. If you're going to spend the money on a nice yacht, a yacht management company is a smart choice.

How much does it cost to insure a yacht?

Joshua Giordano of Global Marine Insurance Agency is no stranger to insuring boats from New York to Florida. In fact, In fact, with over 20 years in the marine industry Joshua offers a unique understanding of marine insurance as it pertains to personal watercraft, boats, and yachts. This knowledge and experience allows him to find the best boat & yacht insurance at the best price.

"We get asked all of the time how much it costs to insure a yacht and the answer is it really depends on where you live and keep the yacht," says Joshua. "For a 60-foot yacht in the Northeast, you're looking at between $6,000 and $8,000 per year for insurance. Come down to Florida and that same boat is going to be $10,000 to $12,000 to insure assuming it's for private use only. If you plan to put your vessel into a yacht charter program in Florida, then costs go up $14,000 per year."

(Seen below: A 62' Azimut Yacht in Florida, if kept at a marina, will likely cost about $10,000 per year in insurance.)

How much does it cost to fill a yacht with fuel?

Trying to budget your annual expense for fuel can be difficult. Not only do some yachts have larger fuel capacities, but their fuel burn and range can also vary. This also then dependent upon how much you use your boat and how hard you will be running the engines. Cruising at lower rpm's at around an 8-10 knot speed can mean better fuel efficiency with longer running times between trips to get more fuel.

Assuming your 60-foot yacht has a fuel capacity 1,200 gallons and with an average fuel price of $5.50, and it will cost $6,600 to fill up. For new boaters, it's really difficult to gauge how much fuel you might use in a year and only personal experience and time on the water can help narrow down that annual cost.

Fuel costs per location also can change depending on where you are boating. The Waterway Guide offers up-to-date pricing on fuel at major marinas through the United States. For example, diesel fuel in Jacksonville, Florida is currently ranging from $5.40 to $5.90 depending on which marina you stop at. In comparison, stopping for diesel in the Florida Keys will start at $4.90 and could be as high as $5.30 per gallon.

Can you finance a yacht?

Finacing a yacht is very common," says Shana White with OceanPoint Marine Lending. "There are many attractive programs out there that can be tailored to fit the bueyer's needs. The boat loan approval process usually takes between 24 and 48 hours to receive an answer." Things like your income-to-debt ratio, credit score, credit history, and asset verification all go into whether or not a bank will loan you the money for a yacht. A favorable rate for a yacht loan could be 4% in the current market with other possible discounts available. Check out our Boat Loan FAQ's page for more information.

Is owning a yacht a good investment?

Why Are Yachts So Expensive?

Can I Sell My Yacht Without A Broker?

What To Know When Buying A Boat

What is the best sport fishing boat?

How Much Should I Pay For A Yacht?

Owning a yacht is an investment in yourself, not a financial one. Boats depreciate in value, they cost money to maintain, and you will almost never sell it for more than what you paid for it. The memories you create with your friends and family on a yacht, however, are worth more than words can describe.  Peter Schmidt talks about why to own a yacht after more than 40 years in the business, "Owning a yacht is a good thing, one of the joys of life. Don't let anyone tell you otherwise. A yacht allows you to make memories you never dreamed possible!" Peter is also a current boat owner and has owned several throughout his life. His kids now own their boats and are teaching Peter's grandchildren the joys of being on the water. "I love boating and my kids love boating. It gets in your blood and gets passed down through the generations. There simply is no greater pastime than owning a boat. Yes, there are some inconveniences along the way with repairs, but the good far outweighs any temporary inconveniences." 

Peter suggests "speaking to a knowledgeable, professional, and experienced yacht broker near you about the costs of yacht ownership. If you don't have a relationship currently with a United Yacht broker, please give our main office a call at (772) 463-3131 and we will connect you with the best broker to service you based on your location and boating needs.

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Yacht Charter Costs Explained

A comprehensive breakdown of your charter costs and fees.

When you begin planning a luxury yacht charter it is important to be aware of what is included in the cost of booking your dream charter yacht. although a yacht will have a base charter fee, this may or may not include additional expenses such as food and fuel and this is subject to the terms and conditions within the charter contract. there are various types of charter contracts and which one applies to you will depend on where you wish to cruise., high season.

High season refers to the most popular weeks of the year for yacht charter, whether it’s the winter period in the Caribbean or the height of summer in the Mediterranean , booking in high season requires early planning, determination and a big budget. In addition, planning a yacht charter to coincide with a major event will also be reflected in the price with marine spots for elite events often booking up early. Allow plenty of time when making enquiries to ensure a star studded, well prepared arrival.

Low season typically refers to any time outside of the high season periods. Groups of families and friends looking for a relaxing luxury vacation are advised to avoid high season weeks and opt for weeks outside of this time. The busiest periods are of course reflected in the charter costs and can be up to 15 to 30 percent more expensive than typical low season periods. Chartering a few weeks either side of these busy periods can be almost exactly the same, with the weather almost unchanged in some places, with far less crowds.

Take to our detailed destination guides and browse the yachts available in your chosen destination. Some of the most successful superyachts in the industry can be reserved up to a year in advance and as most yacht brokers will warn away from last minute bookings, it is better to book early and have the pick of the bunch rather than miss out at the last moment. Browse the Events section for details on upcoming festivals and sporting events or visit our Finding a Yacht Broker page to begin your planning your luxury yacht charter.

This article will go into detail of the costs to be expected when planning and booking a yacht charter. From the base charter fee of a yacht, what is covered within the fee and how it may vary in addition to details of contracts and how an Advance Provisioning Allowance (APA) can be used to manage any expenses.

Base Charter Fee

The base charter fee in essence refers to the hire cost of the yacht itself, with all equipment in working order in addition to the cost of food and wages for the crew during the entirety of the charter. This is essentially all the base charter fee covers with additional expenses often applicable on top. The base charter fee will vary from one yacht to another and this may be down to any number of reasons from size and on board amenities to the charter season. For instance, the base rate of a charter yacht may increase in "high season" and reduce during the "low season". "High season" and "low season" refers to the busiest and slowest periods for yacht charters though this may appear misleading, as these peak times refer to periods of weeks as opposed to full seasons. In addition, you may find that a yacht is also more expensive during special events such as the Monaco Grand Prix, Cannes Film Festival and America's Cup. Unless you are keen to charter a yacht for a particular "high season" event, choose your dates carefully as although a "high season" rate will be more expensive than the "low season" the two can sometimes share much of the same weather conditions.

Aside from seasons and events, yachts of the same size may also differ in price and this may be down to a vast difference in on board amenities. A yacht which boasts an on board cinema or lavish water toys may have a higher base rate compared with a yacht of minimal amenities of the same size. If it is unclear as to why two yachts of the same size are vastly different in price, ask your yacht broker to explain what the differences are. Once you are clear on what the base price is and why, it is important to discover what costs will be applicable on top and this is dependent on the type of charter contract used.

The type of charter contract applicable to your charter will depend on where in the world you are cruising, as there are various terms within the industry which dictate how the payment structure is determined. For instance, a MYBA (Worldwide Yachting Association, formerly known as Mediterranean Yacht Brokers Association) contract operates under Western Mediterranean Terms (WMT) and is arguably the most commonly used, particularly with large yachts embarking on a Mediterranean yacht charter. This contract is often referred to as a "plus all expenses" contract and requires that the charterer pay for fuel, food, beverages and dockage fees as an additional expense outside of the base charter fee. Typically, guests can accumulate an additional 25% to 50% of the base charter fee though this is dependent on what is consumed. These expenses can be tracked through the use of an Advance Provisioning Allowance (APA) which we will cover in the next section.

Alternatively, smaller yachts on a Caribbean yacht charter can expect a "mostly all-inclusive" contract known as Caribbean Terms Inclusive (CTI) sometimes referred to as Standard Caribbean Terms (SCT). The Standard Caribbean Terms greatly differ from Western Mediterranean Terms, as the Caribbean terms include three meals a day in addition to four hours cruising per day which is included in the base charter fee.

In addition to the commonly used MYBA terms and Standard Caribbean Terms, there are also less frequently used terms such as Standard Eastern Mediterranean Terms (SEMT) and Greek Terms (GI). Read our guide on Understanding Charter Contracts for more information and if you are unsure as to what is included under the terms of your contract, be sure to ask your broker.

Advance Provisioning Allowance (commonly referred to as APA)

Irrespective of the charter contract it is important for guests to be aware of the Advance Provisioning Allowance (APA). The APA was designed to enable charterers to manage their expenses through a clear and trackable arrangement. An APA is a way to deposit the estimated expense amount of your charter to cover costs such as fuel, food and dockage fees. Typically, the APA accrues to approximately 25% to 30% of the base charter fee, though this does of course depend on the charter parties tastes and requirements and could be far less or far greater than this estimation. For instance, charter guests who intend to regularly dine on caviar and vintage wine can expect to pay more, whereas guests on board a sailing yacht charter can expect to save on fuel costs. Charterers can request an estimated APA amount from the yacht broker based on their on board expectations.

The APA is to be paid approximately one month prior to boarding the charter yacht and is paid directly to the Captain of the yacht. Once the APA has been paid to the captain it will then be retained as a bank account of sorts, from which the captain can make expenditures whilst keeping a record of what has been spent. At any point during the yacht charter guests can request a rundown of accounts from the captain as a way of keeping track of expenditures. The captain will request that any additional funds are paid during the charter should guests exceed the APA. It is therefore a good idea to keep an additional account with your yacht broker on shore, as should the APA become critically low at any time the yacht broker can release additional funds to the captain on the charterers command. Cash can be used if necessary though an on shore account may be deemed as hassle free to some.

It is important to remember that food and fuel for example, are charged at cost without mark up to the charterer and upon disembarking, transactions can be reviewed by the "head" charterer and Captain with any remaining funds to be paid back to the charterer.

Fuel and Dockage Fees

It is important to remember that whilst considering fuel costs, the fuel consumed when using jet-skis and tenders will also apply to the charterer. In addition, whilst docked at a marina the generators used in order to produce electricity will also use fuel. The distance travelled and speed of cruising also affects fuel costs and it is important to bear these factors in mind. Dockage fees may vary from very little to large sums and this is dependent again upon the location and whether you wish to dock during a special event such as the Monaco Grand Prix.

Although insurance costs are not directly connected to the charter costs as such, it is useful to bear in mind should you with to take out Charterers Liability Insurance or Cancellation and Curtailment cover. You can read more information regarding insurance in our How to Book and Plan a Yacht Charter article.

Value Added Tax (VAT)

European Union (EU) tax laws state VAT will apply should you disembark within their waters, for example Italian territorial waters. This may also apply to some Caribbean islands. Commercially registered vessels are usually VAT exempt though vessels which are not commercially registered will be liable for VAT for all charters within the EU.

No request is too large or detail too small on a yacht charter though it is wise to keep in mind the shipping costs should you request an expensive bottle of champagne to be transported to you whilst you are residing in a secluded bay of the Caribbean. It is important to understand the entire payment structure to ensure no unpleasant surprises arise and it is often prudent to keep an escrow account with your broker on shore in order to control charter costs without having to carry cash on board.

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15 Extraordinary Superyachts Setting Sail In 2024

Posted: March 19, 2024 | Last updated: March 19, 2024

Breathtaking dream boats launching this year

Ready to discover the ultimate in nautical eye candy?

With the largest-ever superyacht poised to grace the high seas – and several other spectacular launches on the horizon – 2024 is tipped to be a truly unforgettable year for fans of floating palaces.

Click or scroll through to jump aboard the most hotly anticipated superyachts scheduled for delivery this year, from state-of-the-art explorers to a record-breaking model that's expected to cost a staggering $600 million. 

All dollar amounts in US dollars.

Custom YS 75 Hybrid: Cost unknown

Ushering in a new generation of high-end eco explorers, this expedition vessel from Damen Yachting in the Netherlands boasts a hybrid propulsion system for zero-emission cruising. For the uninitiated, a hybrid propulsion system uses two or more forms of propulsion, such as a biofuel or diesel engine combined with an electric machine.

As buyers become increasingly aware of environmental concerns, naval architects and yachtbuilders are devising green-leaning vessels that don't compromise on style, luxury, or performance. Damen is among the firms leading the way.

Designed by innovative London studio Michael Leach Design and engineered in-house, the 247-foot Custom YS 75 Hybrid has cutting-edge features, including a touch-and-go helipad and a crane for deploying tenders.

It can accommodate 24 crew members and up to 12 guests across six staterooms and boasts plush entertaining areas.

Due to launch early this year, the innovative vessel will also be the first private superyacht equipped with commercial-grade cultivation pods to grow vegetables, further adding to its eco credentials. As for the price tag? Damen is keeping it firmly under wraps...

Blue Marlin and Custom 78: Cost unknown

Admiral Yachts, owned by The Italian Sea Group, is delivering two sensational superyachts this year, according to Boat International : the 256-foot Custom 78 a nd 253-foot Blue Marlin (pictured).

Sleek and elegant, Blue Marlin's exterior and interior are both the handiwork of prestigious Dutch studio Sinot Yacht Architecture and Design.

The superyacht accommodates 12 guests in six staterooms and offers them a wealth of amenities, including a 19-foot swimming pool, a private spa, and a helipad. Its more sustainable credentials include a lower-emission diesel-electric propulsion system.

Precious little is known about Admiral's super-secretive Custom 78 project, as noted by Boat International .

It's known that the superyacht's exterior has been designed by Igor Lobanov, the Barcelona-based Russian nautical designer who's renowned for his futuristic, mega-streamlined creations. (An example of his work is shown here.)

Admiral has yet to disclose the price of either  Custom 78 or  Blue Marlin .

Project Toro: Cost unknown

Türkiye's Turquoise Yachts is getting ready to sign off the 259-foot Project Toro . It's actually running behind schedule and was supposed to be delivered last year.

With the exterior and interiors designed by British studio Harrison Eidsgaard – which is behind some of the world's most luxurious private jets, in addition to its portfolio of yachts – the end result will undoubtedly be a feast for the eyes.

Project Toro's neoclassical exterior is a real head-turner, while its interiors – which apparently include "a huge Neptune Lounge," to quote Super Yacht Times – have been described by the design team as "the definition of serenity and calm."

The fully customized beauty, which was sold in 2021 for an undisclosed sum, can comfortably fit 14 guests in its seven staterooms, as well as providing space for 21 crew members. Amenities onboard include a beauty salon, gym, and swimming pool.

Al Reem: Cost unknown

Formally known as  Silence , Al Reem is getting its finishing touches at the Bilgin shipyard in Türkiye's capital, Istanbul.

Spanning 263 feet, the superyacht showcases Bilgin's signature style – think razor-sharp exterior lines and a super-slender profile – with naval architecture by Turkish studio Unique Yacht Design. It's the third unit of Bilgin's 263 Series and the most advanced of the trio.

Silent by name, silent by nature: the superyacht was sold to a mystery owner in 2022 and the selling price hasn't been revealed. But it won't have come cheap, that's for sure.

Dreamed up by London's H2 Yacht Design, the modern interiors of the boat whisper quiet luxury. The eight suites (including three VIP cabins) can collectively accommodate up to 12 guests, and there's space for 18 crew members. Al Reem's amenities are top-notch too, with the beach club, gym, and movie theater just some of the standout features.

Project Vento: Cost unknown

Just weeks after Project Toro was sold in 2021, Turquoise Yachts found a buyer for Project Vento . As is the case with Project Toro , the identity of the owner and the price tag have not been divulged.

At 285 feet long, Project Vento is the largest superyacht ever built by Turquoise, with the company teaming up with long-time collaborator London's H2 Yacht Design to work on the boat's esthetics. The result? A distinctive two-tone white and blue exterior with soft, flowing lines.

The interiors are just as eye-catching, with the superyacht boasting a wealth of features.

For the billionaire who has everything, there's a helipad that can also be used as an outdoor movie theater and basketball court. But the pièce de résistance  has to be the incredible 21-foot glass-sided swimming pool on the lowest deck.

Project 1012: Cost unknown

With the venture cloaked in mystery, Feadship hasn't released any renders of Project 1012 and has yet to disclose information about the team behind it.

Based on images of the vessel undergoing trials in December 2022, Megayacht News has speculated that it could be traditional in design and may feature a beach club. However, these details won't be confirmed until the superyacht is delivered sometime this year – so watch this space...

Project 1012 is another Feadship superyacht that's slated for delivery in 2024.

The shipyard is being particularly secretive about the vessel, with details extremely sketchy. While we know that the superyacht is 300 feet long, further information about the vessel is next to non-existent.

Project JASSJ: Cost unknown

Spanning 338 feet, Project JASSJ  is the third-largest of the show-stopping superyachts German shipbuilder Lürssen is delivering in 2024.

Sold in 2021 to an anonymous buyer for an undisclosed price, the superyacht features exterior and interior design by RWD Design. American firm Moran Yacht & Ship is overseeing the build.

Fantastically spacious, Project JASSJ can accommodate 22 guests in 11 staterooms.

Lürssen isn't holding back when it comes to amenities, promising an "industry-leading" beach club, as well as a swimming pool, deck Jacuzzi, top-end gym, and elevator, along with a state-of-the-art helipad and side-opening tender garage.

105 Explorer (NB-729): Cost unknown

Hot on the heels of delivering the 367-foot Renaissance (NB-724) , the largest ever yacht crafted in Spain (and shown here in all its glory), Freire's Galician shipyard is set to complete another whopper:  105 Explorer (NB-729) , which comes in at 344 feet.

Renaissance  has been described by Burgess Yachts as a "temple of leisure" and "sanctum of tranquillity." But 105 Explorer (NB-729) is more about adventure than relaxation...

The superyacht may be kitted out with all the classic creature comforts but, as a roving expedition vessel, the emphasis is on performance rather than amenities.

Reflecting other high-end shipbuilders, Freire has chosen to keep the price of the superyacht a secret in the interest of client confidentiality.

Ace 21: Cost $150 million

Ace 21 is one of four show-stopping superyachts that Germany's Lürssen is delivering this year.

Extending over 256 feet end to end, the glamorous vessel spans five decks – the superyachts we've covered so far have just four – and has been designed to provide five-star relaxation in the world's most idyllic locations. It can accommodate up to 14 guests and a crew of 24.

Lürssen, which has taken care of the naval architecture, has reportedly designed the superyacht so it can cruise closer to shorelines and dock alongside paradise-style beaches and coves.

Ace 21 is all about relaxation – and its designated wellness zone, complete with an extensive spa, beach club, and deck Jacuzzi, combine to make it the perfect place to kick back, millionaire style.

SuperYachtFan reports the vessel was ordered by an unnamed individual who's said to be a prominent figure in the yachting world. The site pegs Ace 21 's price tag at $150 million and estimates annual running costs could stretch as high as $15 million.

Project 825: Cost $186 million

On the other hand, the asking price for Feadship's Project 825  has been revealed.

Due for delivery later in the year, the 249-foot superyacht is currently available for $186 million via Burgess Yachts.

Newly-built vessels of this size and caliber are usually custom orders, so it's rare for one to come on the market. The yacht is likely to be snapped up by a member of the super-rich elite who doesn't have the patience to wait years for a bespoke job .

The turnkey superyacht, which is getting its finishing touches at the Feadship Royal Van Lent shipyard in the Netherlands, has a slick two-tone exterior by Feadship's De Voogt Naval Architects. Its chic interiors are courtesy of Parisian design house Gilles & Boissier.

Project 825 has six staterooms with space for 12 guests, who'll have their every whim catered to by 17 crew members. Among its key selling points are an awesome glass-bottomed swimming pool and a private VIP terrace that boasts its own Jacuzzi.

There's also a sauna, deck gym, games room, and touch-and-go helipad, as well as an elevator. 

Project 712: Cost $200 million+

Feadship is practically churning out superyachts at the moment, with multiple deliveries scheduled this year. Project 712 is among them.

The 272-foot vessel features an exterior design by Feadship's De Voogt Naval Architects. Unlike the aforementioned Project 825 , however, the interiors are the work of top Dutch firm Sinot Yacht Architecture & Design, not French studio Gilles & Boissier.

Because Feadship is selling Project 825 , the price has been revealed – but Project 712 's cost is being kept firmly under wraps. Given its larger dimensions, it's likely to be even more expensive than its sister vessel.

The superyacht has space for up to 10 guests across its five cabins, according to YachtCharterFleet,  and comes equipped with a wealth of billionaire-worthy amenities, including a beach club, a gym, and a deck Jacuzzi.

Project 821: Cost $200 million+

The biggest Feadship superyacht launching this year – not to mention the largest the Dutch company has ever built – is  Project 821 , which spans 390 feet.

Feadship is being as secretive about this superyacht as it is with Project 1012 , with very few details known about it. 

The exterior design is characterized by soft lines, and there's a capacious beach club to the rear of the superyacht that leads down to a swimming platform... And that's all we know. 

Both the buyer and the price of  Project 821 are being kept hush-hush, though the superyacht is likely to have cost considerably more than the smaller Project 825 , which is on the market for $186 million.

Project Deep Blue: Cost $450 million

The second-biggest of Lürssen's four superyachts expected to launch this year, Project Deep Blue may not be delivered to its owner until 2025, according to several expert forecasts.

Details about the project are scant. Even the final length of the superyacht is uncertain, but it's believed to measure at least 427 feet.

No doubt the owner is delighted with the sophisticated exterior design, which bears similarities to Lürssen's Ahpo (now named Lady Jorgia).  

SuperYachtFan reports Project Deep Blue is expected to accommodate 24 guests and a crew of 45. It estimates the vessel would cost a staggering $450 million, with punishing yearly running costs of $45 million. The website has vaguely identified the owner as an Indian or Chinese billionaire.

Project Luminance: Cost $500 million (£392m)

The biggest of Lürssen's four show-stopping superyachts hitting the water in 2024, Project Luminance spans a whopping 475 feet, making it almost as long as three Olympic-sized swimming pools.

The superyacht was originally slated for completion last year, but the delivery date has since been put back. A masterpiece of nautical design, Project Luminance wows thanks to its exterior by Monaco-based Espen Øino and equally elegant interiors by French studio Zuretti Interior Design.

Project Luminance is estimated to accommodate as many as 24 guests across 12 opulent staterooms. Amenities are fantastically lavish, with the vessel reportedly boasting two helipads and a massive swimming pool, which comes complete with an adjacent dip pool.

Reported to cost in excess of $500 million, Project Luminance was commissioned by Rinat Akhmetov, the richest person in Ukraine.

A report in The New York Times in 2022 suggested Akhmetov was considering selling the vessel in light of Russia's invasion of his home country. Still, it appears the billionaire might have decided to keep it for now. And who can blame him?

Somnio: Cost $600 million (£470m)

Putting this year's other launches firmly in the shade, Somnio spans a colossal 728 feet, making it the largest superyacht ever built.

The world's first "yacht-liner," this $600 million floating palace for the mega-rich is billed as "the most exclusive address in the world" and will cruise the planet's iconic yachting destinations, from Monaco to French Polynesia.

Somnio features 39 luxe private residences and a wealth of "six-star" amenities, including an enormous resort-style swimming pool, premium spa, opulent movie theater, gourmet restaurants, 10,000-bottle wine cellar, and a library.

Nearing completion at Norway's Vard shipyard, the six-deck nautical extravaganza is a collaboration between Somnio, Fincantieri, and Vard, while Tillberg Design of Sweden and the UK's Winch Design have looked after the interior design.

The potential occupants of the 39 apartments are being carefully hand-picked. On offer are units with two to four bedrooms, with the option to fully customize them with the likes of a gym, personal kitchen, library, and more.

Those lucky enough to get a Somnio invite can expect to pay from $22 million to secure a cabin in the elite vessel, with service charges likely to be sky-high too.

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19 Common Behaviors of Highly Intelligent People

Billionaire fights to dock his boat on water behind his house. His 164-foot boat, that is.

The love of the water, and a mega-yacht to enjoy it, is putting one resident at odds with village of north palm beach leaders..

For some people, the ultimate Florida lifestyle is a waterfront house , a private dock and a boat parked next to it. But what if that boat is a mega-yacht , and the mega-yacht stretches 164 feet?

That's the conundrum facing the Village of North Palm Beach.

This tiny community in northern Palm Beach County, with only 13,000 full-time residents, has an identity so tied to the water that a ship's steering wheel is the village's emblem.

But it's that love of the water that is putting one resident at odds with village leaders.

For the past several years, homeowner Michael Bozutto has been battling the village for the right to park his 164-foot Westport, dubbed Honey, behind a home he owns at 932 Shore Drive.

The house, built in 1961, is a one-story, ranch-style property with three bedrooms on a half-acre lot. Bozzuto paid $840,247 for the house in 2014, according to Palm Beach County property records.

Lawsuit rooted in dispute over where to dock mega-yacht

What makes this plain house special is its location. It's on a rare corner bordered on the north and east by navigable waters that provide access to the Atlantic Ocean via the Lake Worth Inlet. The east-facing dock is large enough to accommodate Bozzuto's motor yacht.

Since Bozutto bought Honey for an undisclosed sum a decade ago, he mostly has parked it at the Old Port Cove Marina, near Tiger Woods' 155-foot showy mega-yacht, ironically dubbed Privacy.

More recently, Bozzuto has wanted to park Honey alongside his Shore Drive house, one of four houses he owns in the village. While Bozzuto keeps some personal property at the Shore Drive house, he lives at a house he owns at Harbour Isles Court.

Village officials warned Bozzuto he can't park Honey at 932 Shore Drive because boats can only be parked on docks behind houses that are occupied by the homeowner.

But village rules do not define the word "occupied." For instance, the rules do not state that occupied means the house is a residence where the owner lives. Village rules also contain no restrictions on the size of boats that can be kept at private docks.

After years of pushing back against what he believes are fuzzy rules, Bozzuto in March filed a lawsuit against the village.

More: Cannonsport Marina sells for $58.5 million in big deal for tiny Palm Beach Shores

He alleged the municipality is illegally depriving him of his property rights because nothing in the village code prevents him from mooring Honey at his house. He is asking a Palm Beach County Circuit Court judge to rule that he has a constitutional right to dock Honey there.

Gregory Coleman, Bozzuto's West Palm Beach attorney, said the village has plenty of waterfront homes with yachts parked behind them. But Coleman said the village is illegally blocking Bozzuto from docking Honey at his house because the village is bending to pressure from a handful of neighbors who think the boat is too big.

The selective enforcement is wrong, said Coleman, a former president of the Florida Bar.

"He's a very under-the-radar guy who doesn't cause anybody any problems," Coleman said of Bozzuto. "He pays his property taxes, and he wants to be left alone by the village of North Palm Beach. Unfortunately, they are singling Mike out."

Neither Leonard Rubin, the village's longtime attorney, nor Village Manager Chuck Huff responded to requests for comment.

Eric Stettin, a Fort Lauderdale-based attorney who is representing the village in the Bozzuto lawsuit, said he could not comment on pending litigation.

What good is a man's castle if he can't have a boat in his moat?

Coleman's lawsuit describes the conflict as a battle over property rights, but real estate and yachting experts say it's also a sign of the times.

As wealthy new residents pour into the county wanting all the perks of the Sunshine State, they want a boat to go along with their waterfront homes and golf club memberships. Some longtime residents fear Palm Beach County is turning into a playground for billionaires, to the detriment of everyday people who also want to live in sunshine and peace.

This conflict between Old Florida and new money is an ever-present tension, but even seasoned yacht brokers say they've never seen interest in luxury yachts quite as strong as it is now.

More: Illegal boat slips are popping near Palm Beach Gardens. Residents want regulators to act

"What we've seen in the marketplace right after COVID in the yachting industry, and especially the superyacht segment, is the most incredible growth ever seen in the history of yachting to date," said Shannon McCoy, a luxury yacht advisor and broker with Worth Avenue Yachts in Palm Beach.

"A lot of people are moving here with serious money," added Pascal Savoy, U.S. managing director of Camper & Nicholsons International yacht brokers in Fort Lauderdale.

While in the past Palm Beach County was not considered lively enough for some buyers, Savoy said the county's growing sophistication is putting it on the map in a way never seen before.

"It's a mini-Monaco for us," Savoy said.

Prices for mega-yachts can range from $18 million to $60 million, or many times that, for the largest and most decked-out mega-yachts, Savoy said.

While some yachts can be glitzy, a 164-foot Westport is considered a more low-profile boat, Savoy added.

Michael Bozzuto's interests: Houses, boats and philanthropy

Bozzuto is no newcomer to North Palm Beach. He's been a resident of the village for 20 years.

He is the billionaire owner of a family-owned supermarket wholesaler in Connecticut, and an investor and philanthropist who likes to collect houses and yachts, Coleman said.

In addition to the four North Palm Beach houses and several yachts he owns, Bozzuto in February paid a whopping $31.1 million for a house in the Town of Palm Beach Shores. The house, which has two docks, sits just north of the Palm Beach/Lake Worth Inlet.

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Coleman said there is plenty of room for other boaters to navigate the waterway when Honey is parked at the Shore Drive house in North Palm Beach. And while other people may not have as large a yacht, there are other sizeable yachts parked on docks behind other North Palm Beach homes, too, he added.

At a 2017 village council meeting, then-Mayor Darryl Aubrey commented on the issue, according to the complaint.

"When I didn't live here full time, I had a boat sitting in my dock, I was gone nine months of the year. I don't see how you can say that someone has to be in a residence year-round, seems to be some interpretation of occupant, there would be an enormous number of violations," Aubrey said.

Another member of the village council asked if the village had a definition now, the complaint said.

Rubin, the village attorney, replied: "No, we don't," according to the lawsuit.

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Palm Beach County's waterways run deep, and they are popular

The yacht docking dispute is particularly timely, given the scarcity of dock space for boats of all sizes.

The most convenient place to park a boat is on the water behind a house, brokers say. But not every waterway or channel can accommodate the draft, or depth, of a mega-yacht.

However, the dock behind Bozzuto's Shore Drive house can.

Not only is the Westport not known for its deep hulls, but the waterway also is typical of northern Palm Beach County, which boasts deep water and easy access to the ocean via the Lake Worth Inlet, said Coleman, a lifelong boater.

"In Palm Beach County, they have deeper water, and it allows people to have larger yachts," Savoy agreed.

But not every waterway is deep enough for every boat.

McCoy said she specializes in helping advise potential yacht owners about the county's varied water depths before they buy a house, if they plan to dock their yacht behind it.

If yacht owners don't have a private dock, the other option is a marina. But marina space is hard to find, with many dock berths reserved for months in advance, McCoy said.

Despite the challenges of owning a boat and finding a place to dock it, yacht brokers say demand continues.

They see interest continuing from business executives moving here with their families as they relocate their companies to Palm Beach County. There's also a growing demand for yachts among female buyers, McCoy added.

They also see younger mega-yacht buyers, some even in their early 30s. This is in sharp contrast to the mostly older buyers in the past, Savoy said.

Palm Beach County may not be as go-go as Miami-Dade County when it comes to showy ships, but if interest continues, "it's coming," Savoy said. "You're going to attract bigger yachts."

Put another way: "No one needs a boat, but everyone needs a boat," McCoy said. "It's the ultimate lifestyle."

Alexandra Clough is a business writer and columnist at  The Palm Beach Post . You can reach her at  [email protected] . Twitter:  @acloughpbp .  Help support our journalism. Subscribe today.

Take a closer look at the plans for the main regions of Neom, Saudi's epic megacity project

• Saudi Arabia is plowing on with its ambitious Neom project, despite reported setbacks.
• The Kingdom has said "millions of cubic meters of earth and water" are being moved each week.
• Here's a closer look at the main regions that officials plan to build as part of the project.

Saudi Arabia 's futuristic and highly ambitious Neom megacity has been billed by officials as a place where people can "dream big."

First announced in 2017, Neom is being constructed in Tabuk, located on the northern tip of the Red Sea.

In February, the Kingdom released a promotional video sharing updates on Neom's progress. The video claimed the project was "progressing rapidly," adding that "millions of cubic meters of earth and water" were being moved each week.

Denis Hickey, the chief development officer for The Line, said: "We've done a lot of the foundation work literally and figuratively. We are ready to go. I think the construction of The Line is unique in terms of its industrialization and its modularized approach."

"We think there's an opportunity to create a better model for a city to interact with the landscape and nature and the environment and we think The Line is going to be an example to the rest of the world," Hickey said.

The kingdom has been funneling money into the 26,500 km² megacity, with costs projected to reach around $1.5 trillion for the development . The Line — a key part of the project — was planned to be finished by 2030, but recent reports suggest developers may be facing financial difficulties.

In February, The Wall Street Journal reported that Saudi Arabia was borrowing to help fund an array of ambitious projects, including Neom. A month later, Bloomberg reported that the Gulf kingdom has significantly reduced estimates for the number of people expected to settle in The Line .

Neom is the flagship project of the Vision 2030 plan announced by Saudi Arabia's Crown Prince Mohammed bin Salman.

Saudi wants its Vision 2030 projects to boost residency, provide better opportunities, and help the nation diversify beyond fossil fuels — but it remains to be seen whether expectations will match up with reality.

Neom is designed to comprise several regions. Here's how officials say the city will be laid out.

The Line is the most well-known section of Neom.

Officials say the city is set to be contained within two 1640-foot-high mirrored skyscrapers positioned 656 feet apart. According to Neom's website, the city will have no roads, cars, or emissions and run on 100% renewable energy.

The city was originally planned to accommodate nine million people by 2030. However, Bloomberg reported that this estimate was recently downgraded to less than 300,000 people by the same deadline.

US studio Morphosis is reportedly working on the glossy city, with several more architects on board to design smaller sections .

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Several e xperts have raised ethical issues about the city, claiming it could be fitted with Chinese technology to gather data on residents as part of a sweeping surveillance program.

Located on the coast of the Red Sea, Neom officials have announced plans for an octagonal city, which they claim will house a "next-generation" sustainable port.

If completed, the plan is for Oxagon, as it's being called, to spill partly into the sea, with a section set to float above on the shore. Neom officials have made the bold claim the floating part of the city will be the "world's largest floating structure."

Planners have also claimed the city will cover 48km² and house 90,000 people by 2030, as set out in the Vision 2030 plans .

Saudi officials claim Sindalah, a luxury island resort, will be the first region of Neom to be completed.

Developers have said they want the island to act as an "exclusive gateway to the stunning Red Sea," adding that they planned to welcome the global yachting community and luxury visitors.

The resort is set to feature several luxury spots, including a beach club, a spa and wellness center, and a yacht club.

Located in the mountains of the Tabuk region, Trojena has been designed to be Neom's ski and adventure resort.

Neom's website says the region will host 36 km of ski slopes. The site is also aiming to generate 10,000 jobs, per Neom's promotional site.

Saudi plans for Trojena to play host to 700,000 tourists annually by 2030.

The Gulf Of Aqaba

Saudi plans for the Gulf of Aqaba coast include several of Neom's main tourist destinations, including Epicon.

Plans for Epicon include an "ultra-luxury" hotel and resort and include a residential offering. Official statements say it will feature two towers, one 738 feet tall and another 902 feet tall.

If completed, the Gulf of Aqaba will include Leyka, a natural valley with three boutique hotels; Xaynor, an exclusive beach club; Siranna, a "luxury hospitality experience," and Aquellum, a community built inside a 1,476-feet high mountain range.

There are plans for the region to also host several other luxury escapes and wellness retreats.

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