annual cost of a superyacht

Page Loading

Vessel ltinerary
Administration
Dockage & Fuel
Maintenance
Capital Repairs & Reserves
Total Expenses =
Name Length Build
# Total Expenses Date Saved

Advanced functionality coming soon.

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.

Restore Default
$ | € | £

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. 😊

Advanced functionality coming soon…

We are building advanced tools to allow you even greater control over our operating cost calculator. Please enter your email address below to be advised when it is available.

Save this version

Share your calculations, please save version before sharing luxyacht - calculator, you must be logged in to save this version of the cost calculator that you have customized for your yacht..

Articles and Guides

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.

How Much Does a Superyacht Cost?

12th Mar 2024

What Is a Good Boat Name? Over 200 of the Best Boat Names

1st Oct 2023

Fishing in the Gulf of Mexico: Popular Fish To Catch

10th Aug 2023

Living on a Houseboat: Is It Right for Your Family?

Explore Rightboat
Boats for Sale
Boating Articles
Buyers Guide
About RightBoat
Sell Your Boat
Boat Selling Advice
All manufacturers
All categories

Enter your email to keep up to date with the latest news

Join for free

Sign up now for free and discover how easy it is to keep up to date with THE latest boats for sale. Find your right boat, and tailor your voyage to finding your next boat.

Benefits of becoming a member:

Set up tailored alerts
Personalise your experience
Download full specifications and broker details
Keep tabs on your favourite boats

Are you a broker? Join as a Broker

Rightboat - join for free.

Do you have an account already? Login

Save this search

Save your search and receive new boats in your email..

You can unsubscribe from your alerts whenever you like. By pressing the button you accept the Legal Terms and conditions

Charter & Brokerage
Yacht Design & New Builds
Tenders & Toys
Superyacht Events Calendar
Career & Training
Departments
Superyacht Crew Finances
Sustainability
Shipyards and Marinas
Health & Wellbeing
Polar Region
Our Services
Meet the Team

The Real Cost of Owning a Superyacht

Many would assume that the purchasing price of a superyacht is the most costly aspect of being an owner. But the reality is that the costs of owning a superyacht stretch much further than the initial capital outlay. The costs of maintaining a superyacht can run into six or even seven figures and include everything from operational costs and crew salaries, to VAT and insurance. As most owners only use their superyachts for a selected period per year, many turn to charter as a way to help cover the costs while still having the freedom still to cruise whenever they chose.

As each superyacht available for charter is unique, the T.W.W. charter yacht team conducts extensive research beforehand to provide accurate charter pricing. Through yacht charter marketing, T.W.W. can safely and securely promote each superyacht for charter to the most discerning and interested parties. By carefully matching each yacht charterer to the right yacht, everyone’s needs will be met and surpassed. The T.W.W. yacht charter team will also work closely with Captains to plan the most manageable and cost-efficient itineraries while collaborating with the crew to make sure the owner’s asset is well looked after.

Take a look at the annual running costs for a 45m yacht:

Costs associated with the vessel (insurance, maintenance, etc) 340,000 Costs associated with the crew (salaries, travel, recruitment, insurance, etc) 520,000 Costs associated with the port (berthing, electricity, agents, etc) 300,000 Costs associated with commercial survey and fiscal representation 50,000 The annual total quickly becomes in excess of 1,000,000!

By working together with T.W.W., one can rest assured that their superyacht will be booked for charter as much – or as little – as they chose, thereby guaranteeing the ideal balance between the owner’s use, charters and maintenance costs.

Superyacht Content

Everything you might have missed from superyacht summit adria, 2024 1+1 mentoring program. connecting marine industry newbies with leaders, the crew network – top jobs this week, banners & graphics. your marketing strategy essential in the superyacht industry.

Join our Newsletter

Your Name First Last
Your Email *

Privacy | Credits | Get in Touch

We've detected unusual activity from your computer network

To continue, please click the box below to let us know you're not a robot.

Why did this happen?

Please make sure your browser supports JavaScript and cookies and that you are not blocking them from loading. For more information you can review our Terms of Service and Cookie Policy .

For inquiries related to this message please contact our support team and provide the reference ID below.

Deals Funded
Deals in Process

Testimonials

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!

Apply For Financing

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!

Complete Guide to Yacht Financing
Sale Leasebacks – Everything You Need to Know
Yacht Builders – Ultimate Guide (Coming Soon)
Yacht Interior Designers – Ultimate Guide (Coming Soon)

Questionnaire

Search Search Please fill out this field.
Personal Finance

What Size Yacht Can You Afford?

The word yacht often brings up an image of luxury living on a sleek boat in the sea with a crew of dozens. We don’t want to take the wind out of your sails, so to speak, but even a mountain of money won't necessarily have you swimming with the truly wealthy yacht owners. For example, Tiger Woods purchased his 155-foot superyacht, Privacy, for $20 million—and that’s cheap by swanky yacht standards.

The average annual cost of operating your floating symbol of eliteness is 10% of the purchase price.

What Size Can You Afford?

The word yacht is about as clearly defined as a financial advisor , and you’ll get wildly different answers on what size boat earns that title, depending on whom you ask.

By some definitions, you can still be a yacht owner with a 20-foot boat, and you can join a yacht club and spend your weekends exchanging sea stories with your fellow yacht owners. If you are thinking about investing in a yacht, the first question to ask yourself is how big of a boat can you afford to buy?

Key Takeaways

Not all yachts are supersized and prohibitively expensive, like the luxury yachts used by wealthy individually.
It is possible to rent (barefoot charter) a yacht or lease one with a group of friends.
Just because you own or lease a yacht doesn't mean you can drive it—you need a captain's license.
Other expenses accompany owning a yacht from insurance to hiring a crew or captain if you can't drive it.

Calculations and Qualifications

It can be tough to take out a boat loan if you don't meet specific criteria. For example, unless your debt-to-income ratio is below 40%, you’re not likely to hear a resounding yes from the loan officer.

Plan to put at least 10% down on your yacht and pay somewhere around 5% APR for 10 years. That $100,000 entry-level yacht (a used one would be around 30–35 feet long) is going to incur monthly payments of nearly $1,000 after you make your $10,000 down payment.

There’s also another $1,000 to $1,500 (or more) to spend on life jackets and other necessary equipment when you purchase a yacht. Then there's the question of who drives it.

Can You Drive a Boat?

Are you qualified to operate a larger boat? If not, you’ll have to pay for a captain’s license or hire somebody to operate it for you. In addition, yacht insurance will be north of $600, and a slip rental will set you back a couple of thousand per year.

The annual maintenance costs that amount to 10% of the yacht’s purchase price, which would be around $10,000 on a $100,000 yacht.

To know what you can spend, do the math in reverse: You need to have 55% to 60% of your income available for other needs outside of your yacht. The rest is the absolute max you can blow on your obsession.

The Cheaper Way to Go Yachting

Maybe buying a superyacht just isn’t in the cards for you, but if you don’t want a smaller recreational boat, you may want to consider a bareboat charter. It’s like a lease, and just like with a car, you won’t be the owner but you can rent the yacht for a certain period of time.

This could be very short-term—for a yachting vacation—or long-term. For higher-priced vessels, splitting the costs among multiple people could make the price more reasonable. You as the charterer are responsible for nearly all fees, including fuel, insurance, port fees, and everything else.

There are also shared leasing arrangements . In these situations, you pay a monthly fee to a boat club and gain the use of any vessel in the fleet. You still have to pay for fuel and some costs, but the pricing is much more reasonable than trying to purchase the yacht on your own.

Some clubs offer an initiation fee that can go well into the thousands, as well as a monthly fee of a couple of hundred dollars.

The Bottom Line

Owning a luxury yacht takes truly serious money. But for those who earn a higher-than-average income, renting or leasing a vessel, teaming up with friends, or joining a boat or yacht club can make the price comparatively reasonable.

As with any equipment-heavy hobby, the costs are often higher than you think, so you’ll want an emergency fund in place for those unexpected expenses.

Business Insider. " Tiger Woods Has Reportedly Docked His $20 Million, 155-Foot Yacht in the Hamptons — and He Apparently Plans to Stay There During the US Open ."

United Yacht. “ How Much Does It Cost to Own a Yacht? ”

National Marine Lenders Association. “ Things to Consider Before You Shop for a Boat ,” Page 2.

Intuit. “ How Much Does It Really Cost to Own a Boat? ”

Improve Sailing. “ How Much Does It Cost to Dock a Boat for a Year? ”

Progressive. “ Average Boat Insurance Cost .”

Freedom Boat Club. “ Boating Made for Everyone .”

Boatsetter. “ The 5 Secrets Boat Clubs Don’t Want You to Know About .”

Terms of Service
Editorial Policy
Privacy Policy
Your Privacy Choices

Yachting for beginners
Owning a yacht
Motor Yachts
Sailing Yacht
Indian Ocean
Mediterranean
Buying or Selling a Yacht
Yachting Events
FAQ – Luxury Yacht Charter
FAQ – Buying a Yacht
FAQ – Sell your Yacht
How Much Does It Cost To Charter A Luxury Yacht?
All our Blog Post & News

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 / €.

What is a Yacht Club? Benefits & Features Explained

Buying a yacht : the frequently asked questions, you might also like.

What differentiates a yacht from a superyacht or a mega yacht?

Chartering Requirements and Regulations: A Guide for Boat Owners

What are the Fastest Cruising Catamaran on the Market?

How Much Does a Yacht Cost: A Comprehensive Breakdown for Buyers

Yachts embody luxury, status, and freedom, leading many to wonder about the costs associated with such an extravagant purchase.

Buying a yacht is a significant investment that involves not only the initial price but also ongoing expenses such as maintenance, fuel, insurance, and crew costs.

The price of a yacht varies greatly depending on factors such as size, brand, age, and features. Understanding these factors will help potential buyers make informed decisions.

Smaller yachts often start at a few hundred thousand dollars , while larger or more luxurious models may cost millions. Meanwhile, superyachts and mega yachts can carry price tags in the tens or hundreds of millions of dollars.

It is important to remember that additional ownership costs, like annual operating expenses , must be considered when calculating the true cost of yacht ownership.

Key Takeaways

Yacht costs vary greatly based on size, brand, age, and features
Additional expenses such as maintenance, insurance, and crew should be factored in
Assessing all costs involved helps gain a clearer picture of the true cost of yacht ownership

Types and Sizes of Yachts

When considering the cost of a yacht, it's important to understand the various types and sizes available in the market.

In this section, we will explore some of the main categories of yachts, including sailing yachts vs. motor yachts and the range of sizes from small to superyachts.

Sailing Yacht Vs. Motor Yacht

There are two main types of yachts: sailing yachts and motor yachts.

Sailing yachts rely on wind power and sails for propulsion, making them more eco-friendly and fuel-efficient. They come in a variety of sizes and styles, with smaller sailboats starting around 23 feet in length. Some popular designs include sloops, cutters, and ketches.

Meanwhile, motor yachts use engines for propulsion, offering more speed, power, and maneuverability. These yachts typically range from around 30 to 100 feet, although larger motor yachts can also be classified as superyachts. Motor yachts are often equipped with a luxurious interior, offering the utmost comfort and entertainment for guests.

Small Yachts to Superyachts

Small Yachts (10,000-$100,000):

Small yachts generally range from 23 to 40 feet in length. These yachts are more affordable and easier to maintain, making them attractive to first-time buyers. They can be both sailing yachts and small motor yachts. Examples of small yachts include sportfishing boats, family cruisers, and day sailers.

Midsize Yachts ($100,000-$1,000,000):

Midsize yachts typically range from 40 to 60 feet in length. The price of a midsize yacht can vary greatly, with used models going around $200,000 while new ones can go up to a million dollars. They offer more space, better amenities, and improved performance compared to small yachts. Midsize yachts can also be classified as sailing yachts or motor yachts.

Large Yachts ($1,000,000 and up):

Large yachts typically range from 60 to 100 feet in length. These luxurious vessels come with a higher price tag, often costing multiple millions of dollars. Large yachts offer plenty of space for entertaining, as well as state-of-the-art technology and amenities. They come in both sailing and motor yacht varieties.

Superyachts ($10,000,000 and up):

Superyachts are the pinnacle of luxury and sophistication, typically measuring over 100 feet in length. They feature extravagant amenities, such as helipads, swimming pools, and even movie theaters. The price of a superyacht can be astronomical, at times exceeding $10 million or more.

Cost Factors for New and Used Yachts

When determining the cost of a yacht, whether new or used, several factors come into play. These include the age and condition , size and style, brand and model, and location and availability of the yacht.

Each of these factors plays a significant role in the overall cost, so understanding them can help buyers make an informed decision.

Age and Condition

The age of a yacht naturally impacts its price. A brand-new yacht typically commands a higher price than a used one. However, the condition of a used yacht can also greatly influence its value. A well-maintained, used yacht in excellent condition may be more expensive than a newer model with issues or wear and tear.

Size and Style

The size and style of the yacht also play a crucial role in determining the cost.

Generally, larger yachts come with a higher price tag. For example, the average price of a yacht in the United States for vessels 46 to 55 feet was $467,899, while the average price for yachts in the 56 to 79 foot category was $1.18 million.

The style of the yacht, such as a sailboat, power catamaran, or luxury yacht, can have a significant effect on the price as well.

Brand and Model

The yacht's brand and model also contribute to its price. Some yacht brands are known for their luxury, craftsmanship, and performance, which can lead to a higher cost.

On the other hand, more affordable brands may offer similar amenities and functionality at a more budget-friendly price.

It's essential to research different yacht brands and models to find the one that best suits your preferences and budget.

Location and Availability

The location of the yacht, along with its availability in the market, can influence the overall cost.

In some regions, yacht prices may be higher due to factors such as demand, local taxes, or shipping costs. Additionally, if a specific model is in high demand or limited supply, its price may be elevated due to scarcity.

Initial Purchase Price

Buying New Vs. Pre-Owned

When considering the initial purchase price of a yacht, one of the first decisions a buyer faces is whether to buy a new or pre-owned yacht.

New yachts typically come with the latest technology, design, and customization options, but they also come at a higher price.

On the other hand, pre-owned yachts can be significantly more budget-friendly, but may require more maintenance and lack the latest features.

The average price of a yacht in the United States for vessels 46 to 55 feet was $467,899, while the average price for yachts in the 56 to 79-foot category was $1.18 million. These prices can vary depending on whether the yacht is new or used.

The Buying Process

The process of buying a yacht typically involves researching the market, selecting the right size and type of yacht, identifying suitable yachts, negotiating the price, and completing the purchase.

Working with a professional yacht broker can be beneficial in streamlining this process for the buyer as they can provide expert guidance in selecting the right yacht to fit the buyer's needs and budget.

Costs to Consider

In addition to the initial purchase price, there are various other costs that should be taken into account when buying a yacht. These include:

Insurance : Buyers should consider the cost of insuring the yacht. Insurance fees, among other factors, are influenced by the size and value of the yacht.
Marina fees : Docking the yacht at a marina will incur fees, which can range from a few thousand dollars for smaller yachts to tens of thousands for larger ones.
Maintenance : Maintenance costs can make up around 10% of the initial purchase price. For used yachts, be prepared to spend on essential repairs and upgrades as needed.
Fuel : The cost of fuel is influenced by the yacht's size, engine type, and cruising frequency.

Operational and Maintenance Costs

Crew Expenses

One of the significant expenses associated with owning a yacht is paying the crew salaries .

The number of crew members and their respective positions will vary depending on the size and complexity of the yacht. For example, a 180-foot superyacht may have an annual crew expense of around $1.4 million.

It is essential to account for additional crew-related costs such as insurance, training, and uniforms.

Fuel and Propulsion

Another considerable aspect of yacht ownership is fuel costs. The amount of fuel consumption will largely depend on the yacht's size, propulsion system, and usage patterns.

For instance, a larger yacht may incur around $400,000 for fuel annually.

It is also worth considering the potential expenses for any necessary upgrades or maintenance of the propulsion systems to ensure optimal performance and efficiency.

Repairs and Upkeep

Maintaining the yacht's appearance and condition requires regular maintenance and repairs . These expenses can quickly add up. Annual maintenance costs for a superyacht could reach up to $1 million.

This includes expenses for cleaning, teak oils, wax, and polish to keep the yacht looking immaculate. It is often recommended to allocate around 10% of the yacht's value to cover annual maintenance costs.

Dockage and Storage

Mooring fees, marina fees, and storage are additional factors to consider when estimating the operational costs of a yacht. Dockage costs typically depend on the yacht’s size and the chosen location.

On average, a superyacht may have an annual dockage expense of around $350,000 .

Additional Ownership Costs

Yacht insurance is a significant cost that should be factored into your decision to buy a yacht. The cost of insurance can vary based on the size, type, and value of the yacht.

For example, a 180-foot superyacht may have insurance costs upwards of $240,000 per year .

Obtaining quotes from various providers is essential. Remember that rates can fluctuate based on factors such as the yacht's condition and the owner's boating experience.

Taxes and Registration

Owning a yacht also comes with local and federal taxes and registration fees. Tax rates can vary depending on the state or country where the boat is registered.

In the United States, some states have a sales tax for yacht purchase, while others have an annual personal property tax. Make sure to research the applicable taxes and registration fees in your area to include them in the overall cost of ownership.

Depreciation

Another factor to consider when purchasing a yacht is depreciation. Over time, the value of most yachts will decrease, much like automobiles.

The rate of depreciation may differ based on the yacht's make, model, and age. To account for this potential decrease in value, make sure to have a proper maintenance plan in place and be prepared for the potential resale-value drop.

Extra Amenities and Upgrades

Finally, extra amenities and upgrades can significantly impact the cost of owning a yacht. Additional features such as upgraded electronics, specialized navigation systems, enhanced entertainment systems, or custom interior finishes can add considerably to the base cost of ownership.

Also, consider ongoing costs associated with these amenities, such as maintenance, repairs, and replacements. Budgeting for these additional expenses is critical to ensure your enjoyment of the yacht without financial strain.

Real Cost of Yacht Ownership

Owning a yacht is a luxury many people dream of, but it comes with significant costs. This section will discuss the real cost of yacht ownership , looking at the rule of thumb for annual costs and investment considerations.

Rule of Thumb for Annual Costs

When estimating the cost of owning a yacht, a general rule of thumb is that annual costs will be around 10% of the initial purchase price. This includes expenses such as maintenance, fuel, insurance, and crew salaries.

For example, a 180-foot superyacht could have an annual budget of $1 million for maintenance, $400,000 for fuel, $240,000 for insurance, and $1.4 million for the crew.

Another example is a 50-foot yacht , which may have ongoing costs between $35,000 and $85,000 per year.

Maintenance and Repairs: The cost of maintaining a yacht can range from $1,000 to over $1 million per year, depending on the size and complexity of the vessel.
Dockage: Yacht owners should budget around $350,000 annually for marina fees.
Fuel: Depending on the size and type of yacht, fuel expenses can be substantial, averaging around $400,000 per year for a large vessel.
Insurance: Insurance premiums for yachts can range from a few thousand dollars to upwards of $240,000 per year.
Crew Salaries: Crew salaries can account for the largest portion of yacht ownership costs. A large yacht may require a crew with an annual budget of $1.4 million.

Investment Considerations

When thinking of purchasing a yacht as an investment, potential owners should consider several factors.

Yachts depreciate in value over time, making them a less attractive investment compared to traditional assets such as stocks and real estate.

Additionally, the high cost of ownership may make yacht investment less viable for some individuals.

Keep in mind that while some owners charter their yachts to offset costs, this strategy may not fully cover annual expenses. Moreover, chartering exposes the yacht to additional wear and tear, which can result in higher maintenance costs.

Life on Board

Amenities and Comfort

Life on a yacht offers a unique blend of luxury and comfort. Yachts often come equipped with a variety of amenities to make living on board as enjoyable as possible.

One common feature is the cabin , which provides comfortable sleeping quarters and private spaces for relaxation. Some yacht cabins even have their own ensuite bathrooms for added convenience.

A well-designed galley is essential on a yacht, providing the space and facilities needed to prepare meals and store provisions.

Modern yacht galleys often come equipped with high-quality appliances and ample storage space to ensure a pleasant dining experience.

On larger yachts, additional amenities may include swimming pools , outdoor lounges, and spacious deck areas for sunbathing and relaxation. Some superyachts also feature helipads , allowing for easy access to transport and travel to and from the yacht.

Entertaining and Lifestyle

A yacht is not just a floating home, but also a platform for entertaining and socializing. The deck space on a yacht offers a fantastic setting for outdoor gatherings, while a well-appointed cabin cruiser can serve as an ideal venue for more intimate events.

Entertaining on a yacht often involves a range of activities, from casual get-togethers to formal dinners with friends, family, or business associates.

A key factor in this lifestyle is the yacht's finish – the quality of the materials, furnishings, and décor that contribute to an atmosphere of luxury and sophistication.

With such an array of amenities and entertainment options, life on a yacht combines the best aspects of comfort, luxury, and a captivating lifestyle.

Frequently Asked Questions

What is the price range for a small yacht?

Small yachts can cost anywhere from $100,000 to several hundred thousand dollars, depending on factors such as size, brand, age, and amenities.

On average, a new, small yacht may cost around $200,000, but prices can vary significantly based on the specific yacht .

What are typical rental costs for yachts of various sizes?

Rental costs for yachts can vary greatly depending on factors like size, type, and location.

Typically, smaller yachts can be rented for a few thousand dollars per day, while larger, luxury yachts may command tens of thousands of dollars per day.

Some yachts may also require a minimum rental period and may charge additional fees for things like fuel and crew.

What is the purchasing price for a luxury yacht?

Luxury yachts generally fall within the multi-million-dollar price range, with some costing tens of millions or even hundreds of millions of dollars.

The exact price of a luxury yacht depends on several factors, such as the yacht's features, size, customizations, and brand.

What is the cost associated with owning a 50-foot yacht?

The cost of owning a 50-foot yacht includes the purchase price, maintenance, insurance, docking fees, and fuel costs.

While the purchase price can vary greatly, annual costs can be estimated at approximately 10% of the yacht's value, which may include maintenance, repairs, insurance, docking fees, and other related expenses.

What are the expenses involved in buying a 100-foot yacht?

In addition to the purchase price, which can range from a few million to tens of millions of dollars, owning a 100-foot yacht incurs several ongoing costs.

These expenses include insurance, crew salaries, maintenance, docking fees, fuel, and provisions. It is important to budget for these costs, as they can add up to a significant amount each year.

What can one expect to pay for a 70-foot yacht?

The purchase price of a 70-foot yacht can range from several million dollars to well over $10 million, depending on factors such as age, brand, and features.

In addition to the initial purchase price, there will be ongoing costs such as insurance, maintenance, crew salaries, docking fees, and fuel, which need to be considered when budgeting for yacht ownership.

Life Jacket Types: Essential Guide for Water Safety

Fishing Boats for Sale: Expert Guide to Top Choices

Trifecta Pontoon: The Ultimate Guide to Performance and Luxury

Formula 43 Sport

What is the Main Advantage of a Type IV PFD: Essential Benefits Explained

Seavee Boats: The Ultimate Guide for Enthusiasts

Bass Boat Central: A Comprehensive Overview of the Iconic Website

Jet Ski for Sale 2024: Ultimate Buying Guide and Top Models

Seller Market Analysis
Trade Your Yacht
Sold Yachts
We Buy Boats
Exclusive Listings
Yachts for Sale
New Yacht Builds
Nautor Swan Yachts
Sichterman Yachts
Luxury Yacht Charters
Search Charter Yachts
Charter Management
Luxury Events
Team Members
Boat Show Events
North Report Magazine
Testimonials
+1.954.900.9988

Blog | Understanding the Costs of Yacht Ownership

Modern superyachts are a luxury with the latest in entertainment, travel, propulsion, and technology. Some come with standard features and fixtures, but most of them are customized to the owner’s preferences. The true cost of owning a superyacht depends on many factors. Here’s what you should know about the costs of yacht ownership before you jump into the deep end.

The real cost of owning a superyacht

Understanding the Costs of Yacht Ownership

Superyachts are yachts with an overall length (LOA) of 78 feet or more. There are two main costs to consider. Initially, there’s the purchase price of the yacht, which includes the cost, title, and registration. This is followed by the price of maintaining the yacht. Many brokers say to plan on annual costs equal to 10% of the yacht’s purchase price, but this is true only in a small number of cases. In reality, annual maintenance costs can range anywhere from 5% to 30% of a yacht’s purchase price.

Factors such as the usage, brand, type of propulsion, and vessel age can swing your costs either way for seemingly similar yachts. Buyers should evaluate the different operating costs beforehand to avoid unpleasant surprises later on.

Types of operating costs

Costs of yacht ownership especially the operating costs refer to the day-to-day expenses of maintaining a yacht to a reasonable standard. There is some flexibility in these costs, but caution must be exercised when reducing them, as it can affect the yacht’s performance in the long term. Typically, a yacht’s operating costs fall into five major categories.

The age, location, usage, and type of propulsion (engine, sail, or hybrid) will determine a vessel’s fuel expenses. Smaller yachts can bunker about 1,300 gallons at a time, while larger superyachts can bunker over 100,000 gallons. At the current price of $3.60/gallon for MGO, it costs a minimum of $4,700 to fill the tank. You can, however, reduce these costs by refueling further away from popular marinas and cruising at recommended speeds.

Dockage fees

Storage is an important consideration when you own a superyacht. Factors such as the location, season, and facilities provided by a marina affect your final harbor fees. Usually, they are expressed on a dollars-per-foot basis for the LOA of a vessel. An average superyacht sails for about seven weeks a year, in which case the owner can opt for long-term dockage, which is considerably cheaper than transient rates.

Crew salaries

A superyacht experience is best enjoyed when you have a competent crew that delivers value, but that value rarely comes at a low cost. A typical captain will garner wages between $1,000-$1,700 per foot per year based on experience and licenses held. Besides a captain, an owner should also expect to pay the salaries of other crew members, which vary by vessel but can include deck officers, engineers, stewards, and chefs.

The size and use of the vessel will determine how many crew members are required, with charter yachts typically requiring more crew members. Most owners also offer their crew benefits like health insurance and some even offer 401(k) plans . It’s not uncommon for crew compensation to exceed 50% of a yacht’s annual operating cost.

Maintenance and repair

Just like any other substantial investment, a superyacht must be maintained to safeguard its value and ensure dependable operation. This not only grants one peace of mind but also secures the safety of everyone on board. Frequent yacht usage requires regular preventive maintenance to keep the vessel in the best shape. A proper maintenance schedule saves tens of thousands of dollars over a yacht’s lifetime. A well-maintained yacht will also fetch a higher price should you decide to resell.

Vessel insurance

Insuring your superyacht is financial protection against unforeseen circumstances, such as bad weather, fire, theft, crew injury, and so on. These incidents would otherwise cost you an exorbitant amount. Premiums for superyacht insurance vary by cruising location, size, brand, record, age, crew number, toys on board, and whether the vessel will be chartered. A 78-foot superyacht in Fort Lauderdale for private use, for example, will cost about $11,000 in annual premiums.

The takeaway

Navigating the intricacies of yacht ownership can be a challenge for many buyers. One way to make this task simpler is to hire a yacht management company to handle tasks such as cleaning, painting, manning, maintenance, repairs, insurance, yard scheduling, and more. This liberates the buyer to enjoy the actual yachting experience.

Superyachts are synonymous with glamor and luxury, but owning one requires an ongoing investment. However, if you’re prepared for the real costs of ownership, it’s one of the greatest pleasures money can buy.

Finding the latest news about yachting opportunities and understanding the costs of yacht ownership in South Florida can be challenging. If you would like to benefit from our expertise in these areas, or if you have any questions or comments about this blog post, do not hesitate to contact our Sales Specialists , or call us at 954-900-9988 .

Recent Stories

Unveiling the dynamic partnership: nautor swan power boat division and 26 north yachts, dive into luxury: the top 5 best underwater hotels in the world.

Talk to us Contact Our Team

I understand that by signing up I agree with 26 North’s Privacy Policy .

Welcome aboard!

We have added you to the newsletter.

We have received your information and an agent will get back to you ASAP

Sign up for Yoga On the Docks Tuesdays at 8 AM

We have received your registration. See you on the docks!

Le Panorama, 11th Floor 57 Rue Grimaldi MC 98000 Monaco +377 99 99 97 97

1 Franklins Row London SW3 4SW +44 203 862 0820

Yacht Management
Client Experience
Sustainability

How much does it cost to purchase a superyacht?

Superyachts are amongst one of the world’s most exclusive purchases, with the finest vessels costing hundreds of millions of dollars. A luxury yacht is the ultimate lifestyle purchase for the world’s richest, offering flexibility, exclusivity, and the freedom to discover the world's hidden gems in unparalleled luxury.

While owning a superyacht comes with a plethora of benefits, many aspects come into play when deciding to purchase one. Working with a knowledgeable yacht broker, such as the team at Yachting Partners International, can help assist you in your search, by providing expert advice and guidance throughout your entire yachting journey.

The cost of buying a superyacht can vary considerably depending on the size, yacht and amenities you wish to purchase.

In general, the smaller the yacht, the lower the price, with superyachts of 24m or more usually attracting asking prices of over €1m, going up to an average of €11.42m in the 40m-50m category, €24.15m in the 50m-70m category and an average of €81.2m for yachts of 70m+.

Purchasing a motor yacht also tends to cost more than a sailing yacht. However, this is often because many sailing yachts on the market are older; a brand-new sailing yacht will still demand a high price.

It is also important to note that semi-custom yachts are often less expensive than customised superyachts. Of course, yachts decked out with beach clubs, sports courts, spas, fitness suites, and a toy box full of the latest water toys can cost much more.

Jeff Bezos's new 412-foot vessel is estimated to cost about US$500 million to build, and Elon Musk's first luxury Model Y Tesla yacht is ready to set sail, costing around $700 million.

What are the benefits of owning a superyacht?

An indication of prestige, few things match the experience of owning a superyacht. Each year, the world's best shipyards are taking shipbuilding to new levels of luxury, implementing the best design materials, advanced technologies, world-class amenities and environment-friendly features to meet the needs of discerning yacht owners.

Almost all luxury superyachts boast elegant onboard interiors, spacious saloons, and sublime sundecks. However, the world's largest superyachts offer amenities that can often rival a luxury resort, including swimming pools, helipads, wellness centres, private cinemas, beach clubs, sports courts, dive centres and more.

There is also the unparalleled level of service that goes into the onboard experience. From onboard chefs to specialist spas, the service goes above and beyond.

Superyacht owners are also treated with privacy and freedom, allowing them to beat the crowds and explore the world's blue water havens as and when they please.

The current superyacht market

Superyacht sales have boomed throughout the pandemic. According to figures in the latest edition of Boat International's Global Order Book, more than 1,200 superyachts are scheduled to be built in 2022 – a rise of 25% from last year. Currently, the total number of sales for 2022 stands at 33, with a combined value of €418m.

According to the Superyacht Group, the number of vessels delivered has grown 50% from 2020, with more than 700 superyachts sold in 2021.

The superyacht market boom is said to be a reaction to the pandemic as UHNW individuals seek ultra-private forms of transportation and accommodation, prioritising safety and hygiene.

Another factor to consider is the simultaneous advancement of technology and the fact that people can work from anywhere in the world, be it from home or the sundeck of their yacht whilst on vacation in the Bahamas.

Are there any hidden costs to owning a superyacht?

There's a range of extra costs to consider when purchasing a superyacht. Once you agree on a deal with your yacht broker, you can expect to pay around 10% of the yacht's value in annual operational costs, including crew, deck, engineering, fuel, insurance, maintenance and harbour expenses. Approximately 45% of the yearly budget is crew related, making up a large proportion of the overall costs.

Most owners choose to instruct an experienced yacht management company, such as the team at Yachting Partners International, who manage the day-to-day operations of the yacht, including crew, finance, compliance, maintenance and refits. This provides owners with worry-free yacht ownership enabling them to spend more time doing what they love.

Should I buy or charter a superyacht?

Depending on your preferences, many will vouch for owning a superyacht over chartering one. Of course, there are plenty of perks to chartering a yacht, and it's entirely down to the individual's needs and what they're looking for. For a prearranged vacation, chartering a yacht is a breeze with far less responsibility than owning a yacht.

However, nothing can beat the spontaneity and flexibility that comes with yacht ownership. You can travel on a whim with minimal notice with a bespoke itinerary tailored to your needs. The familiarity of having your own captain and crew is another perk as they can offer customised experiences based on your preferences.

Should I buy a new build yacht?

Purchasing a new build yacht is another approach to consider. The beauty of a new build means you can customise a superyacht to your style before it's even been built, meaning you can create your dream yacht and add just about anything – from helicopter landing pads to open-air cinemas.

Many billionaires have stamped their image on their vessels. Apple founder Steve Jobs created a sleek minimalist yacht reminiscent of his brand’s iconic products, while chemicals tycoon Sir Jim Ratcliffe designed an expedition-style ship that can carry helicopters and mini-subs.

However, it is worth bearing in mind that building a superyacht from scratch will invariably be more costly than buying a ready-built yacht. According to Forbes, a custom built 100-metre superyacht costs around $275 million. Additionally, custom yachts have a far longer lead-time, taking several years to design and build.

Alternatively, another popular option is a semi-custom superyacht. This allows for the best of both worlds, offering faster lead times and reduced costs, as well as the flexibility to personalise the yacht to your exact tastes and lifestyle.

Building a custom superyacht can be a superb experience when you work alongside a reputable yacht brokerage. Highly skilled agents are able to assist with all aspects of project management, including the technical and financial performance, surveys, classification, flag and technical regulatory paperwork and the delivery of the yacht.

Browse our luxury yacht sales fleet today or contact us to find your ideal superyacht.

Frank Magazine
Denison History
Virtual Tours
Alaskan Yachts
Azimut Yachts
Back Cove Yachts
Beneteau Yachts
Benetti Superyachts
Bertram Yachts
Boston Whaler
Broward Yachts
Buddy Davis Sportfish
Burger Yachts
Cabo Yachts
Carver Motoryachts
Center Console
Chris-Craft Yachts
Cruisers Yachts
DeFever Trawlers
Dufour Sailboats
Fairline Yachts
Feadship Yachts
Ferretti Yachts
Formula Yachts
Fountaine Pajot Cats
Grady-White
Grand Banks Trawlers
Hargrave Yachts
Hatteras Yachts
Hinckley Picnic Boats
Horizon Yachts
Hydra-Sports
Intrepid Boats
Jarrett Bay Sportfish
Jeanneau Yachts
Kadey-Krogen Trawlers
Lazzara Yachts
Luhrs Sportfish
Marlow Yachts
Maritimo Yachts
Marquis Yachts
McKinna Motoryachts
Meridian Yachts
Midnight Express
Mochi Craft
Neptunus Motoryachts
Nordhavn Trawlers
Nordic Tugs
Ocean Alexander Yachts
Offshore Yachts
Oyster Sailing Yachts
Pacific Mariner Yachts
Palmer Johnson Yachts
Pershing Yachts
Prestige Yachts
Princess Yachts
Pursuit Yachts
Riva Yachts
Riviera Yachts
Sabre Downeast
San Lorenzo Yachts
Sea Ray Boats
SeaVee Central Consoles
Selene Trawlers
Scout Yachts
Sunseeker Yachts
Tiara Yachts
Trinity Superyachts
Viking Yachts
Westport Yachts

The Various Costs of Owning a Boat or Yacht

Prepare for your next boat purchase..

Updated: November 18, 2020

About 95% of owners have boats 26 feet or less at an average cost of $18,000, according to the National Marine Manufacturers Association , and more than 80% of those buyers shelled out for used or brokerage boats. But buying a boat or yacht is just the start. Bentley Collins of Sabre Yachts says to budget 10% of the boat’s value annually to cover expenses. And then there are the extras.

About 5% of the world’s ultra-high-net-worth individuals own a yacht. A 180′ superyacht costs $4.75 million annually to maintain and run. Kitty McGowan of the US Superyacht Association says that among the costs, you need to budget $400,000 for fuel, $350,000 for dockage, $240,000 for vessel insurance, $1 million for maintenance and repairs, and $1.4 million for crew salaries. We broke down how much it costs to own a boat so you can prepare for your next purchase.

Oil And Gas

Fuel prices can make a big dent in your budget if you’re relying on an engine rather than sails. As a point of reference, it costs about $400 to fill the 80-gallon tank of a 27′ Chaparral with a single-engine. A Tiara 4500 Sovran — a heavy-duty powerboat that is considered fuel-efficient — costs about $1,750 to fill a 350-gallon tank. An oil change can run you about $300.

Title, Registration, And Insurance

The amount you pay for title, registration, and insurance depends on the state and the boat’s size. For instance, the title fee for a new boat in Oregon is $75. Registration is about $8 per foot. In Connecticut, registration runs about $105 for a 26-foot fiberglass boat. Like a car, you need insurance. Figure out the cost at about 1.5% of the insured value of the boat, which covers the boat but not anything silly you might do — such as running into a sand bar.

Maintenance

Cut costs by washing your boat with fresh water after each use. Even then, you may need to repaint the bottom of the boat with anti-fouling paint once a year. If you have a sailboat , plan on replacing the sails every three to five years. With powerboats , you’ll need to check and service the engines more frequently. All of these extras add up — from about $300 per year for cleaners and soaps to several hundred dollars on waxing the hull and treating fabric.

Winter Storage

Storage, which includes hauling the boat, dry-docking it, shrink-wrapping it, and blocking it (so it doesn’t move), costs about $3,000 for a 38′ boat in Connecticut and about $1,500 in Maine. Dockage can also run you a couple hundred to a thousand dollars per month if you’re not on the waterfront.

High-quality life jackets can run about $70 each. A package with a safety gear bag, a Freon horn, a fire extinguisher, a visual distress signal kit as well as dock lines costs $170. Add to electronics — such as a GPS chart plotter and a radio system — items that easily tack on an extra $20,000 per boat.

Toys And Tenders

Toys may not be a priority on your yacht, but jet skis, seabobs, kayaks, canoes, tenders, paddleboards, and inflatables cost an extra few thousand dollars each. A seabob costs about $1,000. And if you have kids, the RedShark 10-man Towable 17′ floater will bring hours of fun attached to the back of your boat for about $1,600.

Most Cost-Efficient Boat

Trawlers are like sailboats but without the mast. They come with a cabin, air conditioning, and heating but not much deck space. They travel at about 8 knots per hour and cost about $160,000 to buy used. They are fuel-efficient, using about 50 to 100 gallons of fuel a year. Trawlers are perfect for families and liveaboards.

If you’re in the market to buy a new or used boat or yacht, consider all of the costs involved. From cleaning to storage, there’s always a fee — yet if that’s the cost of pure bliss on the water, then so be it. Contact Denison Yachting to find your next new or used boat.

Looking for more details?

Receive the complete Costs Of Ownership Guide including:

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

Source: Washington Post. Bloomberg Rankings examined the costs associated with buying and owning a boat. Costs vary and not all listed apply to everyone.

Latest News

NEWS | May 16, 2024

143 benetti 2007 sold by denison yachting [blue vision].

143 Benetti 2007 Sold by Denison Yachting [BLUE VISION] BLUE VISION, a 143′ Benetti built in 2007 was sold by Denison Yachting, who introduced the Buyer. BLUE VISION is a highly customized example of the Benetti Vision series. The yacht underwent a complete interior redesign in 2016 by A.

NEWS | May 15, 2024

Aston martin db5: iconic sports car turns 60.

Aston Martin DB5: Iconic Sports Car Turns 60 Even the world’s biggest celebrities can’t upstage the Aston Martin DB5. This article was written by Bill Springer. Photography courtesy of Aston Martin. It’s been 60 years since Aston Martin introduced the DB5, the sports car that quickly became an

MYBA Genoa Charter Show 2024: Best Yachts On Display

MYBA Genoa Charter Show 2024: Best Yachts On Display Explore some of the best moments of this year’s MYBA Charter Show in Italy. After eight years elsewhere, the MYBA Charter Show returned to Genoa, Italy this April. There were 60 yachts attending across three marinas and the Denison team

The Real Cost of Buying & Owning a 50-Foot Yacht

A 50-foot yacht can be difficult to maneuver, especially in tight spaces and harsh weather, so you need to invest in proper training for yourself and your crew. You may also need to apply for special permits and licenses to operate in certain areas. These factors can add up quickly to the overall costs, so if you are determined to own a 50-foot yacht, here's the real cost of buying and owning one.

The total estimated upfront costs of buying a 50-foot yacht range from $458,000 to $692,000 and include the initial purchase price and other fees. There are also hidden costs that total $70,000–$300,000+ per year. For ongoing costs, the total estimated annual costs are $35,000–$85,000 per year.

Although costly, with proper budgeting, maintenance, and strategic planning, you can manage the costs of owning a yacht and still enjoy the lifestyle that comes with it. Let's look at some practical tips to help you manage the costs of owning a 50-foot yacht.

A high-end luxury yacht may cost significantly more than a basic production yacht with standard features and finishes.
A new yacht with low engine hours and minimal wear and tear may command a higher price than an older yacht.
Hiring a surveyor can help you save money in the long run by identifying any potential problems before you purchase the yacht.
Fuel costs can add up quickly, since a 50-foot yacht with twin diesel engines uses almost 20–30 gallons of fuel per hour.
Winter storage can protect your yacht from the elements, and it can also add up to the overall cost of owning a yacht.

The purchase price of a 50-foot yacht varies depending on the model

Different models of yachts may have different features, amenities, and capabilities, which can affect their value and appeal to buyers . A high-end luxury yacht with state-of-the-art technology, custom finishes, and top-of-the-line appliances may cost significantly more than a basic production yacht with standard features and finishes.

Similarly, a newer yacht with low engine hours and minimal wear and tear may command a higher price than an older yacht with more use and maintenance requirements. Yachts located in popular boating destinations or areas with high demand may be priced higher than those in less desirable locations.

Here are some examples of different yacht models, their amenities, and estimated prices:

Sales tax and registration fees

When you purchase a yacht, you will need to pay sales tax and registration fees. In some states, you may be able to avoid paying sales tax if you purchase the yacht in a different state and keep it there.

In Florida, the sales tax rate is 6% , but there is a cap of $18,000 on the amount of tax you will pay. So if you purchase a yacht for $500,000, you will only pay $18,000 in sales tax.

On the other hand, registration fees are the fees you need to pay to register your yacht with the state where you plan to operate it. The fees are typically used to fund marine programs, such as boating safety education, law enforcement, and conservation efforts.

Some states charge a flat fee, while others charge based on the length of the yacht. In some cases, the registration fees may also be based on the age or value of the yacht. These fees are typically renewed annually, and failure to renew your registration can result in penalties or fines.

Registration fees in Florida for a yacht over 110 feet in length can be as high as $4,000 per year. However, for a yacht under 16 feet in length, the registration fee is only $5 per year.

Survey and inspection costs

A survey and inspection is essentially a thorough examination of the yacht by a professional surveyor. The surveyor will inspect the vessel from top to bottom, looking for any issues or potential problems that could affect the yacht's seaworthiness or value. This includes checking the hull, deck, rigging, electrical systems, plumbing, and more.

For smaller yachts, the cost may be a few hundred dollars, while larger and more complex yachts could cost several thousand dollars.

By identifying any potential problems before you purchase the yacht, you can negotiate with the seller or even decide not to purchase the yacht altogether. In the long run, this can save you money and help ensure that you're making a sound investment.

Insurance and financing costs

Insurance rates can vary widely, but you can expect to pay a premium for coverage. The higher the value of the yacht, the higher the insurance premium will be.

As for financing, the interest rates for yacht loans are typically higher than those for home or car loans. This is because yachts are considered luxury items and are often seen as a higher-risk investment. The interest rate you'll be offered will depend on your credit score, income, and the amount of the loan you're seeking.

Aside from the upfront costs, there are also hidden costs beyond the initial purchase price. Here are some hidden costs you should be aware of:

Environmental and regulatory compliance

Owning a yacht also comes with environmental and regulatory compliance costs. You may need to pay for permits to dock your yacht in certain areas, or you may need to invest in equipment to comply with environmental regulations. These costs can add up quickly and may not be immediately apparent when you're considering purchasing a yacht.

Crew and staffing costs

If you plan to use your yacht frequently, you'll likely need to hire a crew to help you maintain and operate it. Crew and staffing costs can include salaries, benefits, and insurance, and can be a significant expense over time. Additionally, you may need to pay for crew training and certification , which can add to the overall cost of owning a yacht.

If you're looking for paid courses for your crew, here are 9 best sailing courses you might want to check out.

Costs of upgrades and customizations

While a 50-foot yacht may come equipped with many standard features, you may want to add additional amenities or customize the interior to your liking. These upgrades can be expensive and may not be covered by your initial purchase price.

Upgrades and customizations can range from relatively minor changes such as adding a new sound system or upgrading the navigation equipment, to more extensive modifications such as adding a new deck or completely redesigning the interior of the yacht. The cost of these upgrades will be based on the extent of the modifications and the materials and labor involved.

In this section, we will discuss the ongoing costs of owning a 50-foot yacht.

Maintenance and repair costs

Regular maintenance helps keep your yacht in good condition and prevents costly repairs. Some common maintenance and repair costs include:

Engine maintenance
Hull cleaning and painting
Electrical and plumbing repairs
Sail and rigging repairs: ( Here's an article on the cost of replacing a standing rigging )
Interior and exterior cleaning

Docking and storage fees

Some common docking and storage fees include:

Monthly slip rental fees: These fees cover the cost of renting a slip at a marina or dock for your yacht to be moored. Slip rental fees can range from a few hundred to several thousand dollars per month.
Winter storage fees: During the off-season, many yacht owners choose to store their vessels on land to protect them from the elements. The cost of winter storage can range from a few hundred to several thousand dollars per season.
Launch and haul-out fees: These fees cover the cost of launching your yacht into the water and hauling it out for maintenance or storage, and vary based on the location and the size of your yacht.
Electricity and water fees: Many marinas charge additional fees for the use of electricity and water while your yacht is in the slip.

Fuel and operating costs

A 50-foot yacht typically has twin engines, which can be either gasoline or diesel. Diesel engines are generally more fuel-efficient and have a longer lifespan than gasoline engines, but they are also more expensive to purchase and maintain.

On average, a 50-foot yacht with twin diesel engines will use about 20-30 gallons of fuel per hour, while a gasoline-powered yacht will use about 40-50 gallons per hour.

Routine maintenance such as oil changes, filter replacements, and hull cleaning is part of the overall operating costs and will cost several thousand dollars per year. More significant repairs or upgrades, such as engine overhauls or electronics replacements, can cost tens of thousands of dollars.

Costs for insurance and maintenance reserves

Insurance can protect you from liability and damage to your yacht, while maintenance reserves can help cover unexpected repairs. Some common insurance and maintenance reserve costs include:

Liability insurance
Hull and machinery insurance
Personal property insurance
Emergency repairs and reserves

Here are some tips to help you manage the costs of owning a 50-foot yacht:

Create a budget and stick to it

Your budget should include all of the costs associated with owning and maintaining your yacht, including mooring fees, insurance, fuel, maintenance, and repairs. Try to plan for unexpected costs, such as emergency repairs or unexpected upgrades.

You should also plan ahead for seasonal expenses, such as winterizing your yacht when the boating season is over . By creating a budget and planning ahead, you can avoid surprises and ensure that you have the funds necessary to keep your yacht in top condition.

Do the basic maintenance and repairs by yourself

While there are some tasks that require a professional, such as engine repairs or electrical work, there are many things you can do yourself with a little knowledge and the right tools.

By doing your own maintenance and repairs, you can save money on labor costs and ensure that your yacht is always in top condition. You can also take pride in knowing that you are taking care of your investment and keeping it in great shape.

Consider sharing and chartering options

If you don't use your yacht all the time, you may want to consider sharing or chartering options as a way to offset the costs of ownership. Sharing your yacht with friends or family members can help split the costs of maintenance and repairs while chartering your yacht to others can help generate income.

There are many websites and companies that specialize in yacht sharing and chartering where you can find an option that works best for you. Just be sure to carefully vet anyone who will be using your yacht to ensure that they are responsible and will take good care of your investment.

Learn some selling and trading strategies

If you find that the costs of owning a 50-foot yacht are too high or you are ready to move on to something else, you may want to consider selling or trading your yacht. There are many strategies you can use to get the best price for your yacht, including working with a broker, advertising online, or attending boat shows.

If you are interested in trading your yacht for something else, perhaps carefully consider your options and work with a reputable dealer. By using these strategies, you can ensure that you get the best value for your investment and can move on to your next adventure with confidence.

You may also like, cost of buying & owning a small yacht (detailed breakdown).

While some people may prioritize a slower, more eco-friendly, and more hands-on experience that they get from a sailing yacht, others may prefer a faster, more …

The Average Cost of Owning a Boat in Florida (4 Examples)

Average Cost of Buying & Owning a Catamaran (With 4 Examples)

2023 Cost Of Mediterranean Yacht (As Seen On Below Deck)

Average Cost of Buying & Owning a Yacht in Dubai (2023)

Own your first boat within a year on any budget.

A sailboat doesn't have to be expensive if you know what you're doing. If you want to learn how to make your sailing dream reality within a year, leave your email and I'll send you free updates . I don't like spam - I will only send helpful content.

Ready to Own Your First Boat?

Just tell us the best email address to send your tips to:

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.

Heat Pump Operating Cost Calculator
How Much Does it Cost to Have an Operating System Made?
Net Operating Working Capital Calculator
Basic Empty Weight vs Dry Operating Weight Guide

How much does it cost to own a yacht?

By Rob Bowman | Posted On Oct 28, 2019 Updated On Apr 16, 2024

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?

Are Yachts Worth Buying?

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.

Interesting Boating Links

Worldwide yacht sales.

Yacht Search By Location
Cape Cod Boat Sales
Yachts For Sale in Georgia
Bahamas Boat Trader
The Palm Beach Boat Show
15M Boat For Sale
The Most Popular Yacht Brands
South Jersey Yacht Sales Cape May NJ
Boat Sales Massachusetts
Yachts in Jacksonville Florida
Sailboats For Sale Puerto Rico
Used Boats For Sale in Alabama

Luxury Boats & Yachts

Yachts For Sale by Price
Sabre Yachts For Sale
Yacht For Sale USA
Yachts For Sale Houston
48 Ocean Yacht For Sale
Used Center Console
Cabo Yachts For Sale
Viking Sportfish For Sale

Popular Builders & Models

Expedition Yacht
Aquila Boats For Sale
Pursuit Boats
Used Flybridge Power Boats For Sale
Sports Cruiser
Catamaran Sailboat For Sale
Motor Yacht
Albemarle For Sale
Sea Ray 58 Sedan Bridge
Bavaria Boats

Trending Brands & Types

Riviera Boats For Sale
Sport Fishing Boats For Sale
Carver Yachts
Liveaboard Boats For Sale
Sea Ray Boats
Mainship Boats For Sale
25 Contender For Sale
Sunseeker Boats For Sale

SEND UYS A MESSAGE

It Costs $184K per Day To Live Like a Billionaire in 2024

Posted: May 15, 2024 | Last updated: May 15, 2024

Sure, you've admired the lifestyles of the rich and famous -- or the not-so-famous. But do you know how much it costs to live like them?

Discover More: Here's How Much the Definition of Rich Has Changed in Every State

Find Out: 4 Genius Things All Wealthy People Do With Their Money

Not surprisingly, living a lavish lifestyle involves some serious spending, from super-sized housing bills to personal assistants and security. Although most billionaires stay pretty tight-lipped about their spending, the "99 percent"-ers can occasionally get a glimpse into their outrageous expenses.

Mansion Costs: Varies, But Can Top Over $23,000 Daily

Not surprisingly, your home will be among the largest costs -- especially if you've invested in a sprawling mansion worthy of a billionaire.

If you become a billionaire, your daily housing cost varies depending on the price of your home. But if you've invested in a home costing north of $100 million -- like billionaire Jeff Greene's Beverly Hills mansion, listed for a reported $129 million in 2017 -- you'll be paying a fortune every single day.

Assuming you bought the home and put down a respectable 20% down payment, you're looking at a mortgage worth $103.2 million. At an interest rate of 7.14% on a 30-year fixed-rate mortgage, you'll pay about $696,323 -- or around $23,210 daily.

Of course, you'll also pay for property taxes, homeowners insurance and maintenance, pushing your housing costs up even further. You better keep earning those billions.

Read Next: I'm a Financial Advisor: Here's Why My Rich Clients Identify With the Middle Class

Check Out: Jeff Bezos' Billion-Dollar Life: A Look at His Mansion Collection

Fancy Car Costs: $411 or More Daily

Living a billionaire's lifestyle means traveling in style -- and choosing the right car can be key to maintaining your brand image. As a billionaire, perhaps you'd invest in a luxury vehicle like a Ferrari or Bugatti.

On top of a large upfront price tag -- a Bugatti Mistral costs approximately $5 million, according to Edmunds -- you'll also pay premium maintenance costs.

A change of tires for a typical Bugatti, which is needed after 2,500 miles, cost a reported $33,000, according to Secret Entourage. With other expenses such as insurance, taxes, service and more, you can expect to pay $150,000 a year to own a luxury car.

Assuming you maintain your car with an annual tune-up and change your tires once a year, you're looking at $411 per day in car maintenance -- plus your lease, insurance, taxes and the cost of fuel.

Discover More: 8 Best Luxury Cars for Wealthy Retirees

<p>That Bugatti might feel like a relative bargain compared to the cost of owning a yacht. Of course, there's the upfront cost of building the boat, which doesn't come cheap. Leonardo DiCaprio's 450-foot "superyacht," for example, reportedly cost $200 million to build, according to the Daily Mail.</p> <p>But your costs don't end there. You'll also have to pay to run, maintain and staff your yacht.</p> <p>According to research on CNN, a superyacht owner can spend up to 10% of the purchase price on the annual operating and maintenance costs.</p> <p>It's estimated that a 150-foot superyacht could cost around $2 million annually or about $200,000 weekly to operate. This comes down to $28,571.43 daily.</p>

Luxury Yacht Costs: Up to $28,571 Daily

That Bugatti might feel like a relative bargain compared to the cost of owning a yacht. Of course, there's the upfront cost of building the boat, which doesn't come cheap. Leonardo DiCaprio's 450-foot "superyacht," for example, reportedly cost $200 million to build, according to the Daily Mail.

But your costs don't end there. You'll also have to pay to run, maintain and staff your yacht.

According to research on CNN, a superyacht owner can spend up to 10% of the purchase price on the annual operating and maintenance costs.

It's estimated that a 150-foot superyacht could cost around $2 million annually or about $200,000 weekly to operate. This comes down to $28,571.43 daily.

Entertaining Costs: Up to $82,191 Daily

Part of building your net worth is making the right connections, and as a billionaire, a big part of your job is networking. That means holding the occasional no-holds-barred soiree that's lavish enough to impress your fellow ultra-rich friends.

Throwing a big bash doesn't come cheap. For example, The New York Times reported that billionaire Stephen A. Schwarzman spent a reported $5 million on his 60th birthday party in Manhattan. That one paled in comparison to the cost of his 70th birthday party, which set him back as much as a reported $20 million.

Assuming an oh-so-modest $10 million budget per party, throwing an average of three soirees a year would set you back $30 million annually, or $82,191 per day.

<p>Yes, even the wealthy have healthy habits. After all, making the rounds at your ultra-rich party involves looking your best. But as a billionaire, you're not hitting up a discount gym -- you're working out in your private gym with a luxury personal trainer.</p> <p>Those training costs can be expensive, however. Fabrice, the founder of Fabrice Le Physique and personal trainer to billionaires, reportedly charges an estimated $1,340 an hour for training.</p> <p>So if you plan to spend much time training, it'll really cost you after just a few hours.</p> <p><strong>Try This: <a href="https://www.gobankingrates.com/money/wealth/robert-kiyosaki-ways-to-become-wealthy-beyond-the-9-to-5/?utm_term=related_link_6&utm_campaign=1271493&utm_source=msn.com&utm_content=9&utm_medium=rss" rel="">Robert Kiyosaki: 7 Ways To Become Wealthy Beyond the 9-to-5</a></strong></p>

Personal Trainer Fees: $1,340 Daily for One Hour

Yes, even the wealthy have healthy habits. After all, making the rounds at your ultra-rich party involves looking your best. But as a billionaire, you're not hitting up a discount gym -- you're working out in your private gym with a luxury personal trainer.

Those training costs can be expensive, however. Fabrice, the founder of Fabrice Le Physique and personal trainer to billionaires, reportedly charges an estimated $1,340 an hour for training.

So if you plan to spend much time training, it'll really cost you after just a few hours.

Try This: Robert Kiyosaki: 7 Ways To Become Wealthy Beyond the 9-to-5

<p>After your thousand-dollar workout, it's time to refuel. However, that doesn't mean spending time in the kitchen. As a busy billionaire, you're likely hiring your own full-time chef to cook your meals for you.</p> <p>Surprisingly, a personal chef might cost less than you think. According to an article on Business Insider, private chef Reilly Meehan mentioned that a private chef can make anywhere from $120,000 to $220,000 annually. Using an average of $170,000 as an annual salary, your daily cost for a private chef would average out to about $465.75 per day.</p> <p>However, your workers might expect bonuses that add to your overall costs. One billionaire's private chef received a Cartier watch as a year-end bonus, and another reported getting around $1,300, GQ magazine reported.</p>

Personal Chef Costs: $466 Daily, Plus Bonuses

After your thousand-dollar workout, it's time to refuel. However, that doesn't mean spending time in the kitchen. As a busy billionaire, you're likely hiring your own full-time chef to cook your meals for you.

Surprisingly, a personal chef might cost less than you think. According to an article on Business Insider, private chef Reilly Meehan mentioned that a private chef can make anywhere from $120,000 to $220,000 annually. Using an average of $170,000 as an annual salary, your daily cost for a private chef would average out to about $465.75 per day.

However, your workers might expect bonuses that add to your overall costs. One billionaire's private chef received a Cartier watch as a year-end bonus, and another reported getting around $1,300, GQ magazine reported.

Nanny Fees: $220 Daily

When you're a billionaire, chances are work keeps you pretty busy. So if you have kids, you'd likely need to hire some help to care for them.

Paola Diana, the founder of a nanny agency that services wealthy families, told the Daily Mail that the salary for a live-in nanny can easily begin around $80,406.

That works out to a daily rate of around $220 per day. However, you'll probably also need to cover other expenses. If you're traveling as a family, for example, prepare to pay for your nanny's travel expenses, too.

<p>Keeping your mansion spick-and-span requires lots of work, and you'll likely want a butler on your staff to lend a hand. The butler often helps care for a portion of your home -- say, the dining room, kitchen and wine cellar -- and might help manage or organize your other cleaning services.</p> <p>The average butler takes home $76,747 annually, according to Payscale. And salaries typically top out at $125,000, which works out to $342.57 per day.</p>

Butler Costs: $343 Daily

Keeping your mansion spick-and-span requires lots of work, and you'll likely want a butler on your staff to lend a hand. The butler often helps care for a portion of your home -- say, the dining room, kitchen and wine cellar -- and might help manage or organize your other cleaning services.

The average butler takes home $76,747 annually, according to Payscale. And salaries typically top out at $125,000, which works out to $342.57 per day.

Cleaning Service Costs: $267 or More Daily

Keeping a sprawling mansion clean requires plenty of work, so part of living like a billionaire means paying for cleaning staff.

Like other domestic staff, though, cleaning services won't necessarily break the bank. In fact, Dr. Dre -- who famously called himself the "first billionaire of hip-hop" -- allegedly paid his housekeeper $1,870 per week, or around $267 per day, according to the New York Daily News.

Trending Now: Bill Gates' $10.95 Million Daily Income: How the Microsoft Legend Spends It

<p>When you're paying for the upkeep on your mansion, don't forget the outdoors -- including the pool. Landscapers in the U.S. earn a salary of up to $42,308, which works out to $116 per day, according to Indeed.</p> <p>So if you're keeping a team of four landscapers on staff, you'll pay up to $500 per day to pay your landscapers. Of course, any upgrades will increase your costs, since you'll need to pay for materials, permits and landscape design.</p>

Outdoor Home Maintenance Costs: $116 or More Daily

When you're paying for the upkeep on your mansion, don't forget the outdoors -- including the pool. Landscapers in the U.S. earn a salary of up to $42,308, which works out to $116 per day, according to Indeed.

So if you're keeping a team of four landscapers on staff, you'll pay up to $500 per day to pay your landscapers. Of course, any upgrades will increase your costs, since you'll need to pay for materials, permits and landscape design.

<p>Keeping your luxury goods safe is likely a top priority, so you'll need to pay for security -- especially if you earn a bit of fame along with your fortune.</p> <p>The cost for a traveling security team can seriously add up over time. Meta, for example, increased its budget to $14 million for founder Mark Zuckerberg's personal security detail.</p> <p>If you're paying for that level of security out of pocket, you'd pay about $38,356.16 per day. But that's on top of any upfront costs for other forms of security, like a home security system.</p>

Personal Security Costs: $38,356 Daily

Keeping your luxury goods safe is likely a top priority, so you'll need to pay for security -- especially if you earn a bit of fame along with your fortune.

The cost for a traveling security team can seriously add up over time. Meta, for example, increased its budget to $14 million for founder Mark Zuckerberg's personal security detail.

If you're paying for that level of security out of pocket, you'd pay about $38,356.16 per day. But that's on top of any upfront costs for other forms of security, like a home security system.

<p>You won't just need help around the house. When you're balancing a billionaire's timetable and commitments, having a personal assistant or two can simplify your life.</p> <p>However, a good PA doesn't come cheap. Experienced PAs to the ultra-wealthy make at least $90,000 annually, and even total rookies start at $50,000 per year, NextShark reported. If you go with one highly experienced personal assistant, you can expect to pay at least $246 per day for their salary, plus the cost of any benefits or bonuses.</p> <p>If you're looking for assistants with highly specialized skills, you might end up paying even more. CNBC reported, for example, that billionaire Sam Wyly paid a pair of writing assistants $32,000 each month -- or just north of $500, per assistant, per day.</p> <p><strong>Learn More: <a href="https://www.gobankingrates.com/money/wealth/im-self-made-millionaire-my-monthly-budget/?utm_term=related_link_8&utm_campaign=1271493&utm_source=msn.com&utm_content=11&utm_medium=rss" rel="">I'm a Self-Made Millionaire: Here's My Monthly Budget</a></strong></p>

Personal Assistant Costs: $246 or More Daily

You won't just need help around the house. When you're balancing a billionaire's timetable and commitments, having a personal assistant or two can simplify your life.

However, a good PA doesn't come cheap. Experienced PAs to the ultra-wealthy make at least $90,000 annually, and even total rookies start at $50,000 per year, NextShark reported. If you go with one highly experienced personal assistant, you can expect to pay at least $246 per day for their salary, plus the cost of any benefits or bonuses.

If you're looking for assistants with highly specialized skills, you might end up paying even more. CNBC reported, for example, that billionaire Sam Wyly paid a pair of writing assistants $32,000 each month -- or just north of $500, per assistant, per day.

Learn More: I'm a Self-Made Millionaire: Here's My Monthly Budget

<p>When you become a billionaire, having a good legal team in your virtual Rolodex is an absolute essential. And although you won't necessarily be paying legal fees every day, you will rack up significant legal bills when you're involved in a lawsuit.</p> <p>For example, tech mogul and billionaire Peter Thiel paid roughly $10 million to finance Hulk Hogan's lawsuit against Gawker Media, Fox News reported. And Fortune reports that top lawyers can now charge up to $1,500 per hour. So if you're dealing with legal issues, you could be shelling out thousands of dollars in legal fees each day.</p>

Lawyers and Legal Fees: $1,500 per Billable Hour

When you become a billionaire, having a good legal team in your virtual Rolodex is an absolute essential. And although you won't necessarily be paying legal fees every day, you will rack up significant legal bills when you're involved in a lawsuit.

For example, tech mogul and billionaire Peter Thiel paid roughly $10 million to finance Hulk Hogan's lawsuit against Gawker Media, Fox News reported. And Fortune reports that top lawyers can now charge up to $1,500 per hour. So if you're dealing with legal issues, you could be shelling out thousands of dollars in legal fees each day.

<p>That mansion at home might cost a pretty penny -- but most billionaires don't limit their real estate holdings to just one residence. Chances are, you'll be paying for a vacation home or two as part of your daily expenses.</p> <p>Most billionaires don't skimp on their part-time housing. Mark Zuckerberg's Hawaiian vacation home cost $100 million, and Michael Bloomberg's London home cost $26 million, according to Forbes.</p> <p>Assuming you go for a modest home like Bloomberg's, paying 20% down with a 30-year fixed rate mortgage at a 7.14% interest rate, you're looking at monthly mortgage payments of $140,344 or roughly $4,678 per day.</p> <p>You'll still have to pay property taxes, utilities and maintenance, as well as the cost of any support staff -- pushing your daily costs even higher.</p>

Vacation Home Costs: Varies, but Can Top Over $4,678 Daily

That mansion at home might cost a pretty penny -- but most billionaires don't limit their real estate holdings to just one residence. Chances are, you'll be paying for a vacation home or two as part of your daily expenses.

Most billionaires don't skimp on their part-time housing. Mark Zuckerberg's Hawaiian vacation home cost $100 million, and Michael Bloomberg's London home cost $26 million, according to Forbes.

Assuming you go for a modest home like Bloomberg's, paying 20% down with a 30-year fixed rate mortgage at a 7.14% interest rate, you're looking at monthly mortgage payments of $140,344 or roughly $4,678 per day.

You'll still have to pay property taxes, utilities and maintenance, as well as the cost of any support staff -- pushing your daily costs even higher.

<p>The ultimate status symbol, bringing home billions means you can skip the lines at the airport and travel in style in your own jet. But like any status symbol, owning a plane is ultra-pricey and is one of the ways the rich spend a lot of money.</p> <p>Expect to spend at least $10 million for a used 2011 Cessna Citation X with low flight hours, according to Aviation Voice. You'll also pay about $3,000 per month for storage, and each refuel of even a fuel-efficient plane can cost $11,000. On top of that, you're looking at around $215,000 per year in staffing costs, plus hundreds of dollars per hour for maintenance costs.</p> <p>Even if you've already paid for your plane in full, you can expect to pay a minimum of $823,000 annually to store, fuel and staff your plane -- assuming one refuel each week. That breaks down to a daily rate of $2,254 -- a hefty expense to fly in luxury.</p> <p><strong>Check Out: <a href="https://www.gobankingrates.com/money/wealth/net-worth-for-baby-boomers-how-to-tell-poor-middle-class-rich/?utm_term=related_link_9&utm_campaign=1271493&utm_source=msn.com&utm_content=12&utm_medium=rss" rel="">Net Worth for Baby Boomers: How To Tell Whether You're Poor, Middle Class, Upper Middle Class or Rich</a></strong></p>

Private Jet Costs: $2,254 or More Daily

The ultimate status symbol, bringing home billions means you can skip the lines at the airport and travel in style in your own jet. But like any status symbol, owning a plane is ultra-pricey and is one of the ways the rich spend a lot of money.

Expect to spend at least $10 million for a used 2011 Cessna Citation X with low flight hours, according to Aviation Voice. You'll also pay about $3,000 per month for storage, and each refuel of even a fuel-efficient plane can cost $11,000. On top of that, you're looking at around $215,000 per year in staffing costs, plus hundreds of dollars per hour for maintenance costs.

Even if you've already paid for your plane in full, you can expect to pay a minimum of $823,000 annually to store, fuel and staff your plane -- assuming one refuel each week. That breaks down to a daily rate of $2,254 -- a hefty expense to fly in luxury.

Check Out: Net Worth for Baby Boomers: How To Tell Whether You're Poor, Middle Class, Upper Middle Class or Rich

<p>If you want to live like a billionaire, even a great annual salary might only cover your basic expenses for a day. Assuming relatively low estimates -- for example, that you're hiring just one butler instead of two, or a single landscaper instead of a team -- you'll still face six-figure expenses every day.</p> <p>To cover these basic expenses, you'd need an after-tax income of over $67 million just to cover your basic ongoing costs -- and likely much more in order to invest and save your money, plus acquire new property.</p> <p>It's probably safe to say your current day-to-day expenses are looking downright reasonable in comparison.</p> <p><em><a href="https://www.gobankingrates.com/author/mdasko/?utm_term=incontent_link_4&utm_campaign=1271493&utm_source=msn.com&utm_content=13&utm_medium=rss">Martin Dasko</a> contributed to the reporting for this article.</em></p> <p><strong>More From GOBankingRates</strong></p> <ul> <li><a href="https://www.gobankingrates.com/investing/real-estate/dont-buy-a-house-in-these-3-cities-facing-a-climate-change-real-estate-bubble/?utm_term=incontent_link_5&utm_campaign=1271493&utm_source=msn.com&utm_content=14&utm_medium=rss"><strong>Don't Buy a House in These 3 Cities Facing a 'Climate Change Real Estate Bubble'</strong></a></li> <li><strong><a href="https://www.gobankingrates.com/saving-money/shopping/single-best-thing-to-buy-at-aldi-in-may/?utm_term=incontent_link_6&utm_campaign=1271493&utm_source=msn.com&utm_content=15&utm_medium=rss">The Single Best Thing To Buy at Aldi in May 2024</a></strong></li> <li><a href="https://www.gobankingrates.com/retirement/planning/this-is-one-of-the-best-ways-to-boost-your-retirement-savings-in-2024/?utm_term=incontent_link_7&utm_campaign=1271493&utm_source=msn.com&utm_content=16&utm_medium=rss" rel=""><strong>This is One of the Best Ways to Boost Your Retirement Savings in 2024</strong></a></li> <li><strong><a href="https://www.gobankingrates.com/banking/checking-account/heres-how-to-get-a-200-bonus-just-for-banking-like-you-normally-would/?utm_term=incontent_link_8&utm_campaign=1271493&utm_source=msn.com&utm_content=17&utm_medium=rss" rel="">Here's How to Add $200 to Your Wallet -- Just For Banking Like You Normally Would</a></strong></li> </ul>

Total Cost To Live Like a Billionaire: $184,000 or More Daily

If you want to live like a billionaire, even a great annual salary might only cover your basic expenses for a day. Assuming relatively low estimates -- for example, that you're hiring just one butler instead of two, or a single landscaper instead of a team -- you'll still face six-figure expenses every day.

To cover these basic expenses, you'd need an after-tax income of over $67 million just to cover your basic ongoing costs -- and likely much more in order to invest and save your money, plus acquire new property.

It's probably safe to say your current day-to-day expenses are looking downright reasonable in comparison.

Martin Dasko contributed to the reporting for this article.

More for You

Fans fume as Netflix removes period drama with 95% Rotten Tomatoes score

Sketchy characters: The best courtroom drawings from Donald Trump’s New York hush money trial

15 Times Supporting Characters Stole The Show

Kikkoman Finally Settles the Debate: This Is Where You Should Store Your Soy Sauce

5 Tips for Getting Dog Smell Out of Your House

Vice President Kamala Harris speaks during an event at Discovery World Thursday, May 16, 2024, in Milwaukee. (AP Photo/Morry Gash)

Trump accepts a VP debate but wants it on Fox News. Harris has already said yes to CBS

I Did a 25 Day Water Fast. I Lost 20lbs and My Skin Cleared Up

"Putin is preparing a long war against the West"

10 best new Netflix originals you need to add to your watch list

Filmmaker's Parents Choose Medical Aid in Dying, End Their Lives in Emotional Docuseries: Editing 'Was Hell' (Exclusive)

Friedman - "I don't believe permission was ever granted"

I love working on a cruise ship. I get free housing and food at the buffet, but it's definitely a strange way to live.

A look back at Vancouver's 1994 and 2011 Stanley Cup riots

13 Practical Tips For Losing Weight After 60

Losing Weight After 60: 13 Practical Tips To Lose Body Fat And Maintain Muscle, According To Experts

BA flight in emergency mayday landing after cockpit fills with smoke

Strongest solar flare since 2017 just blasted out from the Sun

Archive photo: Estonian intelligence assesses Russian offensive in Kharkiv region (Getty Images)

Estonian intelligence suggests reasons for Russia's offensive in Kharkiv region

10 of the Most Expensive TV Shows to Produce in TV History

Movies That Cast a Spell: 12 Must-Watch Films Loved by All

The 8 Best Free Roku Channels of 2024

lol Badge Feed
win Badge Feed
trending Badge Feed

Browse links

Consent Preferences
Accessibility Statement

29 Real-Life Secrets Of The Super-Wealthy, According To People Who Have Worked For Them

"He had one 747 for himself and another for his staff, which numbered around 400 people."

Senior Editor

As a non-rich person, I'm always fascinated (and horrified) when I catch a glimpse of how the other half lives. Recently, u/coco_deez_nuts asked people on Reddit who've worked for the super-wealthy to share some of the things they've seen, and people did not hold back. Here are some of the most jaw-dropping replies:

1. "an acquaintance of mine works as a senior engineer on huge mega yachts. the husband is barely there, but the trophy wife (number five), ten years younger than his youngest daughter, lives in it most of the time. all of the staff know to stay clear of the sun deck between 11 and 12 every morning. she comes up from her cabin, three stiff gins in, and cries for an hour before lunch to herself. every fucking morning. the added kicker, the yacht is named after his first wife.".

Person relaxing on a sailboat with mountains in the background, symbolizing financial freedom

— u/cotford

2. "I know a lady who bought her kid a horse; then they bought the horse a horse for company. Then they decided they may as well build a stable. They now have about eight horses and run an equestrian school. Imagine having the money to turn a child's whim into a business."

— u/thelordofthething

3. "He pumped a bunch of money into the Malibu City counsel in order to change a few seats. This would allow him to have the local ordinance changed so his front doors could be taller than 20 feet."

— u/trickhot3130

4. "When I lived in New York, I worked at a highly regarded hotel, the kind where you would see celebrities every other day. The one that stood out to me was when a guest rented out a honeymoon suite just for their cat. I know it sounds made up, but rich people are weird, and so is New York."

A Siamese cat wearing a pearl collar lies on a cushion with a gold-framed couch in the background

5. "The wife of an acquaintance told us a story of how she used to work for a wealthy businessman on his private yacht, but he was never on it. She worked in the kitchen as one of the chefs, and basically, he would have his family or his friends use it when they were in town to save on having to have a hotel; they’d just stay on his yacht. She said in the 18 months she worked there, she only knew of him using it himself once. I mean, can you just imagine having the kind of crazy money to buy a yacht in the first place, then just not fucking using it?!"

— u/longrodvonhugedong86

6. "I worked at a summer boarding school in France for rich English kids. Parents would send the kids to us and jet off for the season. One kid bounced wrong on a bed messing about, and flew through a window, lacerating his liver and almost bleeding to death. He was in hospital for two months with various complications before being moved home. The parents never came to visit, never even spoke to him. After two weeks, his au pair or something came for about three hours. Some of those kids were little bastards, but it was very clear why."

7. "we were sitting down at the table about to sign a contract, and his assistant forgot 'the' pen. apparently, this pen has signed all the deals that were successful in his early career and made him who he is, so he doesn't sign any deals without it. so he legit tells her to get on the jet, and bring it him immediately. he apologized for the inconvenience by adding 20% to the deal. money isn't an actual thing to wealthy people. it's all a made-up concept of unlimited 1s and 0s.".

Person signing a document, focused on hands and pen, implying a professional agreement or contract

— u/who_dat_1guy

8. "My friend was a security guard for an elderly widow of a Dallas oil baron who lived on White Rock Lake. She had a full-time private chef and kitchen staff, although she lived there alone. He said the chef would cook huge beef roasts, turkeys, brisket, and all kinds of food every day just to have it available in case the old lady wanted something, which she rarely did. They weren’t allowed to give the leftover food away to the staff or anyone else but had to throw it out every single day. And when the old lady requested ice water or iced tea or lemonade, if even one ice cube had cracks in it, she would make them throw it all out and make it again."

— u/nitegard

9. "The CEO of a company I used to work for offered to take me wine tasting. She said it'd be free; apparently, she spends so much money on wine from this vineyard that they get her a limo and free access/tasting whenever she feels like it."

— u/roxoroxo

10. "Lots of pill popping to handle stress — especially before speaking engagements. People always viewed them as friendly, engaging, and fun. Little did they know that was a public persona thanks to copious amounts of Ativan. In real life, they were picky, obstinate, difficult, and a nightmare for all of us employees to deal with. We had to remember all of these particular preferences and abide by them always."

Hand holding pills with another hand holding a glass of water, implying medication or health management in a workplace

— u/beaux_beaux_

11. "Custom cabinets made and installed only to be taken down and tossed in the trash because they decided the color they picked out wasn't the right vibe."

— u/kitty_styles

12. "Saw a Prince of Saudi Arabia in the early '90s throw money in a way beyond all imagination. Dropped about $100k for a single dinner for him, his wife, and his two children. Shutting down the fine-dining restaurant in our hotel costs $30k for one night. He flew in his favorite chef from New York to Florida (where the hotel is), made enough food for our entire restaurant staff, his family, and the security staff from state, local, and federal forces he had with him, and tipped us a ridiculous amount, too. He stayed at our hotel every year for several years and rented the top four floors of the hotel for a month. He had one 747 for himself and another for his staff, which numbered around 400 people."

— u/racecarhealthpotato

13. "My boss has a wooden covering to what once encased an ancient Egyptian mummy. He is elderly, and we were preparing items to be shipped to his daughter, who lives overseas. We didn't send it because it is a known stolen artifact and will be confiscated at customs."

Two intricate Egyptian sarcophagi with a mummy inside one, symbolizing investment in historical artifacts

— u/lilajax22

14. "My dad was friends with a Spanish rich dude because they shared a love for old cars. My dad had one, and the rich dude had many. The thing is, these people had a maid who worked for them since before this rich dude was born. His parents were never around so she was the one to actually raise him. She fed him, took him to school when he was a child — everything your parents would do for you, this maid did. She had been working in that comically large house for over 30 years. Other staff, such as cooks, cleaners, etc., would come and go, but she was almost part of the family, we thought. One day, the rich dude decides he wants to move to the US and sells the house. What does he do with the maid? He just fired her over the phone. He never even said goodbye to the woman that basically raised him. And so I learned that rich people don't consider the poors to be the same kind of human being as them."

15. "had a client who purchased a newly built penthouse apartment and wanted a jacuzzi on the balcony. it would’ve meant a structural column was needed in the middle of the balcony below. the contractor who built the apartment block wouldn’t go for it as it would impact selling that apartment. client buys the apartment below, approves the column, jacuzzi is installed, then privately sells the apartment below. voila, problem solved.".

— u/embarassed-floor407

16. "I used to work for a grocery delivery service; customers sent their lists through an app, and I would shop and deliver their orders. My most out-of-touch rich person story is the lady who ordered $300 worth of filet mignon from Whole Foods (when it was still good before Amazon bought them out) and wanted it cut into stir-fry strips. The butcher made me show him the order notes because he was also incredulous at the sheer audacity of hacking up $40/pound steaks. The address ended up being the most expensive single-family home in the city at that time. I also delivered laundry soap to Joe Montana."

Hand seasoning a raw steak with salt on a wooden surface, surrounded by herbs

— u/coccopuffs606

17. "I've worked in private banking, and I can't say too many things, but the weirdest example by far was a billionaire client who employed a private detective or intelligence officer to create a file on me, complete with photographs they took of me going home from work. I think it's safe to say that I'm talking about the kind of billionaire who is linked to a head of state; your average new money tech billionaire doesn't have this kind of security operation. He said that his security team produced a file on everyone before they walked through his door, and he advised me to tighten up my online security."

— u/john198777

18. "My boss was kicked out of his house and staying at an exclusive Laguna Beach hotel and wanted to leave. He had been drinking, and the valets wouldn't give him the keys to his Range Rover when he wanted to leave. So, he called the dealership (he bought one every year or so and was a good customer), had a new one sent over, and drove off in his new Range Rover after it arrived."

— u/fjrathskeller

19. "Did building maintenance for a wealthy family who had a Lego room for their grandkids. This room was huge and had cupboards full of Lego and building tables everywhere. There were huge Star Wars ships and castles, etc., all over the place. One day, the kids were deemed too old for Lego, and I was asked to dispose of it all. I carefully packed them all into bags and gave them to friends' children. Many thousands of dollars worth. Man, I was popular."

Two hands holding a variety of Lego bricks over a scattered assortment on a surface

— u/seabreaze68

20. "I was a waitress when younger. I had a super wealthy guy who wanted to date me but I wasn’t having it. Said no, even after his $500 tips. One day, I came to work, and he was there with a lawyer, and he bought the entire steakhouse and bar I worked in. Then he said, 'Now I own this place, we WILL hang out.' He always told me, 'Money talks and bullshit walks,' and every single person or thing has a price. He took me on trips and bought me a Benz and a small apartment. He would do WILD shit. He was a very impatient person and sometimes would buy the line up of groceries for people just to skip the line. Just unforgettable insane things; I can list many! But when it ended, it got bad; he paid people to follow me, and it wasn’t good."

— u/generous_hustler

21. "I work at a private social country club. Our members are billionaires and triple-digit millionaires. They 'playfully' discuss their jets like poor people discuss streaming services. Apparently one member had $60 million plane bragging over one member with only a $45 million dollar jet. When we have weddings at the country club, the tents we usually use cost more than $200,000. I feel so poor there sometimes. But I am also more content with my life and have true self-awareness."

— u/any_humor2630

22. "I got stiffed by the super wealthy. They didn’t feel like paying me, so they didn’t. And they got away with it because I was poor and powerless and scared shitless to take on someone who could whoop my ass in court or even socially."

Crumpled US one-dollar bill on a plain background, symbolizing financial distress or loss

— u/ninac4116

23. "I was a nanny for landed gentry (the title of Sir and Lady get handed down to the eldest child, along with the manor house and lands). Kids were packed off to boarding school at 8. It was heartbreaking. The middle child was dreading it — tears every night, literally sobbing himself to sleep in my arms. Parents' attitude was, 'We were like that too, so he has to do it.' The youngest was two at the time and would always prefer me to his actual mum. He fell over once and came to me for cuddles and kisses, didn't even glance at his mum, who was standing right next to me. She didn't seem bothered. The thing is, the parents were actually pretty nice people, just not bothered about childraising in any way. At least they didn't insist I use their titles, like some of their friends did with their staff."

— u/intrepid-camel-9797

24. "I’ve worked for a few billionaires. One owned a box at the local concert venue. He would give seats to us sometimes. His crew was backstage with all the best bands. Another one started his company and brought in his friends and family on the ground floor. He would pit them against each other in board meetings. He was bored. One founder would have an HR watcher assigned to him at the (amazing) company parties and steer him away from the pretty ladies. Wife one, two, and three were all former employees."

25. "i’m a graphic designer. i was designing an annual report for a very wealthy owner of a private equity firm, and he wanted me to match the colors of the book to the interior of his private jet.".

Man in business attire sitting thoughtfully by airplane window with a closed laptop on the table next to him

— u/cyber_insecurity

26. "A colleague made an offhand comment about her kids needing red T-shirts for an art project at school. She said she was going to Run into Lord & Taylor or Bergdoff's to get a 'cheapy' shirt. Me in my head: 'normal people go to Wal-Mart for 'cheapy' shirts.'"

— u/breakingpoint214

27. "The CEO of our company routinely orders catered lunches or has his chef cook food for contractors and various vendors that work within his home. His big thing is cheeseburgers. At any given moment, he's sending one of his staff to buy cheeseburgers, or he's having his chef cook them. Everyone thinks he's so nice for offering them lunch while on the job, but from his own mouth, he says he only feeds them because 'I get pleasure watching these people crowd into my kitchen always looking for handouts of food like dogs.'"

— u/no-palpitation-6047

28. "I tutored a kid once in math. The kid was a genius, but the other moms got their kids tutors, so I guess I was in fashion. One day, she asked me to drive her downtown to 'shop.' She blew about $24K on diamonds, pearls, and costume jewelry. This was a monthly thing. I was charging $30 an hour and felt like an idiot."

Person holding multiple shopping bags on a city street

— u/mauore11

29. And finally, "I worked in the mail room at one of the BIG 10 and got to see a super wealthy person's tax return; it was two entire file boxes, and this person was getting somewhere around $10 million back on his tax return. He’s already super wealthy, and he’s getting a lifetime's worth of wealth back on one tax return."

— u/mr-noodles

Have you ever been close to extreme wealth? Share your experiences and observations in the comments!

Share this article.

NRA kicks off annual meeting as board considers successor to longtime leader LaPierre

The National Rifle Association is kicking off its annual meeting in downtown Dallas, gathering for the first time in decades without Wayne LaPierre at the helm as board members prepare to elect his replacement

DALLAS -- The National Rifle Association is kicking off its annual meeting Friday in downtown Dallas, gathering for the first time in decades without Wayne LaPierre at the helm as board members prepare to elect his replacement.

Though beset by financial troubles and following a trial in which a jury found LaPierre misspent millions of the NRA’s money, the group remains a political force. Upwards of 70,000 people are expected at the three-day event with a scheduled speech by former President Donald Trump , seminars, receptions and acres of guns and gear.

A board of directors meeting on Monday is expected to include election s of LaPierre’s replacement and other officers.

"The immediate question is: Who leads the organization and what direction do they go in the post-Wayne LaPierre NRA?” asked Robert Spitzer, a professor emeritus at the State University of New York-Cortland who has written several books on gun policies.

“They have suffered a series of blows, mostly caused by their own corruption,” Spitzer said.

Trump is set to address members Saturday. At the organization's Great American Outdoor Show earlier this year, he told those gathered that if he is reelected, “no one will lay a finger on your firearms.”

A New York jury in February found LaPierre wrongly used millions of dollars of the organization's money to pay for an extravagant lifestyle that included exotic getaways and trips on private planes and superyachts. LaPierre resigned as executive vice president and chief executive officer on the eve of the trial.

The jury said LaPierre must repay almost $4.4 million to the NRA, while the organization's retired finance chief, Wilson Phillips, owed $2 million. The NRA failed to properly manage its assets, omitted or misrepresented information in its tax filings and violated whistleblower protections under New York law, jurors found.

After reporting a $36 million deficit in 2018 fueled largely by misspending, the NRA cut back on longstanding programs that had been core to its mission, including training and education, recreational shooting and law enforcement initiatives.

The NRA filed for bankruptcy in 2021, but a judge dismissed the case, ruling it was not filed in good faith.

LaPierre had led the NRA’s day-to-day operations since 1991, acting as its face and becoming one of the country’s most influential figures in shaping gun policy. A fiery proponent of gun rights, he once warned of “jack-booted government thugs” seizing guns and condemned gun-control advocates as “opportunists” who “exploit tragedy for gain.”

Andrew Arulanandam, a top NRA lieutenant who served as LaPierre’s spokesperson, has taken on his leadership roles on an interim basis.

Phillip Journey, a newly reelected member of NRA's board, said he is among those trying to elect new leadership with hopes that the organization will become more transparent.

“I want to reestablish the trust that the membership has lost in the current leadership and I think that we need to make the board understand that they can speak their mind and not be punished,” said Journey, a Kansas judge, adding that the organization is “at a great crossroads.”

As the NRA meeting opens in Dallas, it has been a year since a neo-Nazi opened fire at a mall in the Dallas suburb of Allen, killing eight people before a police officer ended the rampage.

The organization's annual meeting last year in Indianapolis fell on the second anniversary of the mass shooting at a FedEx facility in the same city that left nine people dead, only days after mass shootings at a school in Nashville, Tennessee, and a bank in Louisville, Kentucky.

At the 2023 meeting, top Republican hopefuls for the 2024 presidential race vowed to defend the Second Amendment at all costs.

In 2022, the NRA held its annual meeting in Texas just days after a gunman killed 19 students and two teachers at an elementary school in Uvalde. Those taking the stage that year in Houston denounced the massacre while insisting further restrictions on access to firearms were not the answer.

One week after a gunman killed 26 people, mostly children, in 2012 at Sandy Hook Elementary School in Connecticut, LaPierre gave a defiant speech saying more gun laws weren't the answer and called for armed guards at schools. “The only thing that stops a bad guy with a gun is a good guy with a gun," he said.

French police fatally shoot synagogue fire suspect

May 17, 2:40 AM

Abbott pardons man convicted of killing protester

May 16, 3:42 PM

Vatican updates to authenticate visions of Mary

May 17, 12:09 AM

Wildlife crossings could help save Florida panther

May 17, 6:08 AM

Man convicted in Malawi over TikTok video

May 17, 8:18 AM

ABC News Live

24/7 coverage of breaking news and live events

IMAGES

Superyacht Industry Insights
The cost of owning a superyacht in 2024
How much does a superyacht cost?
Annual costs of owning a superyacht enough to buy a mansion
The cost of owning a superyacht in 2023
How Much Does A Superyacht Really Cost To Run?

VIDEO

How expensive are superyachts?
Inside the Award-Winning Eclipse Superyacht
LIGHT HOLIC ($40M Luxury Superyacht) Elegant Berthing in Cannes
Up Close| SOLARIS
Pendennis Shipyard 30th Year Round Up 2018
4.8 Billion Super Luxurious Yacht (Most Expensive Yacht Ever Bought)

COMMENTS

Superyacht Cost Calculator
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 ...
The Real Costs of Owning a Superyacht [Complete Guide]
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.
The hidden costs of owning a superyacht
The most significant cost is undoubtedly the crew. A superyacht owner is likely to spend around $860,850 a year on salaries for workers onboard a 150-foot yacht, according to Luxury Yacht Group ...
How Much Does a Superyacht Cost?
A comparatively modest 150-foot superyacht could have an annual crew salary of $800,000 according to Luxury Yacht Group, which is around 45 percent of the total annual running costs. Maintenance: The upkeep and maintenance of these behemoth yachts is constant and, according to CNN, the annual estimated maintenance costs for Azzam are around $60 ...
Yacht Maintenance Cost. The Real Costs of Owning a Superyacht
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 ...
The Real Cost of Owning a Yacht
Buying a yacht is only the beginning expense; here's what you need to know about the cost of owning one. Navigation. Boats. Power Boats; Sailboats; Sell Your Boat; ... As a rule of thumb, plan on setting aside 10-percent of the boat's value, to cover annual maintenance costs. If you're smart, if there's money left over at the end of the ...
Can I Afford a Super Yacht?
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 ...
How Much Does a Superyacht Cost?
Annual maintenance costs can range from 10 to 20 percent of the yacht's value, which can quickly add up for the costlier options. Plus, don't forget about fuel, docking fees, insurance, and other miscellaneous expenses that come with owning a yacht. Crew and Staff: Onboard a superyacht, the crew is an essential part of the experience.
The Real Cost of Owning a Superyacht
Take a look at the annual running costs for a 45m yacht: Costs associated with the vessel (insurance, maintenance, etc) 340,000. Costs associated with the crew (salaries, travel, recruitment, insurance, etc) 520,000. Costs associated with the port (berthing, electricity, agents, etc) 300,000. Costs associated with commercial survey and fiscal ...
The Hidden Costs of Owning a Superyacht
The combined retail value of superyachts sold last year was 2.6 billion euros ($2.9 billion), a 21 percent increase from 2016, according to the Superyacht Intelligence Agency. That's a dramatic ...
How Much Does a Yacht Cost?
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.
How Much Does a Yacht Cost? What Can You Afford?
Plan to put at least 10% down on your yacht and pay somewhere around 5% APR for 10 years. That $100,000 entry-level yacht (a used one would be around 30-35 feet long) is going to incur monthly ...
How Much Does it (Really) Cost to Own a Yacht?
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.
How Much Does A Superyacht Really Cost?
A 71-meter yacht using 500 liters of diesel few per hour, which brings the annual gas costs to around $400,000. The Katara, a 124 meter superyacht owned by the emir of Qatar, docked in Nice's ...
How Much Does a Yacht Cost: A Comprehensive Breakdown for Buyers
Annual maintenance costs for a superyacht could reach up to $1 million. This includes expenses for cleaning, teak oils, wax, and polish to keep the yacht looking immaculate. It is often recommended to allocate around 10% of the yacht's value to cover annual maintenance costs.
Understanding the Costs of Yacht Ownership
There are two main costs to consider. Initially, there's the purchase price of the yacht, which includes the cost, title, and registration. This is followed by the price of maintaining the yacht. Many brokers say to plan on annual costs equal to 10% of the yacht's purchase price, but this is true only in a small number of cases. In reality ...
How much does it cost to purchase a superyacht?
The cost of buying a superyacht can vary considerably depending on the size, yacht and amenities you wish to purchase. In general, the smaller the yacht, the lower the price, with superyachts of 24m or more usually attracting asking prices of over €1m, going up to an average of €11.42m in the 40m-50m category, €24.15m in the 50m-70m ...
Yacht Ownership: The Cost of Owning a Boat or Superyacht
And then there are the extras. About 5% of the world's ultra-high-net-worth individuals own a yacht. A 180′ superyacht costs $4.75 million annually to maintain and run. Kitty McGowan of the US Superyacht Association says that among the costs, you need to budget $400,000 for fuel, $350,000 for dockage, $240,000 for vessel insurance, $1 ...
The Real Cost of Buying & Owning a 50-Foot Yacht
The total estimated upfront costs of buying a 50-foot yacht range from $458,000 to $692,000 and include the initial purchase price and other fees. There are also hidden costs that total $70,000-$300,000+ per year. For ongoing costs, the total estimated annual costs are $35,000-$85,000 per year. Although costly, with proper budgeting ...
Yacht Operating Cost Calculator
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.
The Cost of Owning a Boat: Budgeting and Financial Planning
Most people end up planning for the cost of owning a boat to run at between 15 and 25 percent of the boat's overall value. That's a wide range and plenty of boats will fall outside of it, with the general rule of thumb being that the larger and more complex any vessel is, the bigger a percentage it will require.
How much does it cost to own a yacht?
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.
It Costs $184K per Day To Live Like a Billionaire in 2024
It's estimated that a 150-foot superyacht could cost around $2 million annually or about $200,000 weekly to operate. ... Using an average of $170,000 as an annual salary, your daily cost for a ...
29 Jawdropping Stories About Working For The Super-Rich
Here are some of the most jaw-dropping replies: 1. "An acquaintance of mine works as a senior engineer on huge mega yachts. The husband is barely there, but the trophy wife (number five), ten ...
NRA kicks off annual meeting as board considers successor to longtime
At the 2023 meeting, top Republican hopefuls for the 2024 presidential race vowed to defend the Second Amendment at all costs. In 2022, the NRA held its annual meeting in Texas just days after a ...
Toyota Tacoma Car Insurance Cost 2024
Toyota Tacoma Insurance Costs by Company. $1,575 $3,590. Table with 2 columns and 13 rows. Company. Average Toyota Tacoma insurance cost per year. Allstate. $3,167. Auto Owners. $2,041.

Page Loading

Advanced functionality coming soon.

Advanced functionality coming soon…

Save this version

Yacht Maintenance Cost. The Real Costs of Owning a Superyacht

Yacht maintenance cost

Yacht f uel costs

Berthing and mooring costs

Owner-on-board costs

Super yachts crew salaries

Super yacht repairs

Super yachts taxes and insurances

Communication Costs

Super yachts tenders and toys

Related Articles and Guides

How Much Does a Superyacht Cost?

What Is a Good Boat Name? Over 200 of the Best Boat Names

Fishing in the Gulf of Mexico: Popular Fish To Catch

Living on a Houseboat: Is It Right for Your Family?

Join for free

Are you a broker? Join as a Broker

Save this search

The Real Cost of Owning a Superyacht

Related articles

Popular Posts

Join our Newsletter

We've detected unusual activity from your computer network

Why did this happen?

Testimonials

How Much Does a Yacht Cost?

Yacht Terms

Average Cost of Yacht

How Assets America ® Can Help

Apply For Financing

How Much Does a Megayacht Cost?

Video: Million Pound Mega Yachts for Sale – Documentary 2019

Additional Costs of a Yacht

Cost Breakdown

FAQs — How Much Does a Yacht Cost?

What is the cost to build a yacht?

How much does a 60-foot yacht cost?

How much does a 100-foot yacht cost?

Related Articles

Recent Posts

Questionnaire

What Size Yacht Can You Afford?

What Size Can You Afford?

Key Takeaways

Calculations and Qualifications

Can You Drive a Boat?

The Cheaper Way to Go Yachting

The Bottom Line

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

How much is a yacht?

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

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

Yachts maintenance: a cost that you should definitely not overlook

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

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

The depreciation’s price of a yacht

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

How to reduce the cost of yacht ownership?

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

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

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

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

Frequently asked question

What is a Yacht Club? Benefits & Features Explained

What differentiates a yacht from a superyacht or a mega yacht?

Chartering Requirements and Regulations: A Guide for Boat Owners

What are the Fastest Cruising Catamaran on the Market?

How Much Does a Yacht Cost: A Comprehensive Breakdown for Buyers

Key Takeaways

Types and Sizes of Yachts

Sailing Yacht Vs. Motor Yacht

Small Yachts to Superyachts

Cost Factors for New and Used Yachts

Age and Condition

Size and Style

Brand and Model