cost of running a super yacht

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The Real Costs of Owning a Superyacht [Complete Guide]

November 25, 2019 1:00 pm

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

Purchase Cost

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

• • Financing the Purchase
• • Immediate Post Purchase Costs

Operating Costs

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

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

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

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

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

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

Looking for more details?

Receive the complete Cost of Yacht Ownership Guide including:

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

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

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

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What does it cost to run a super yacht?

Figures within the super yacht industry are hard to comprehend, below are a selection of expenses you should consider if you are considering buying a yacht.

I always found it hard to grasp what the yachts I worked on were spending on fuel and would often chat to our engineers about the costs involved. As an approximate guide a yacht of about 70 meters in length will consume about 500 litres of diesel fuel an hour (when the engines are running and not necessarily moving anywhere!).

To get the yacht moving you will need to spend approximately £2,000 an hour, to achieve a cruising speed of around 18 knots. Therefore an average overnight cruise of 12 hours could cost about £24,000 (note…this will be significantly higher for the larger yachts).

The next consideration of costs is berthing a yacht and this is certainly no cheap past time. Some of the top ports charge €2,000-€3,000 per night. The top six most expensive ports to berth at are:

• Capri, Italy
• Porto Cervo, Italy
• Porto Fino, Italy
• Ibiza Magna, Ibiza
• St Tropez, France
• Port Hercule, Monaco

The mooring cost is normally based on the yachts size and the popular ports are booked months in advance. A yacht needs to be moored when on standby as well and ports such as Antibes charge up to €2,000 per night - renting a permanent dock here (like some owners do) cost hundreds of thousands!

Then if you are like Roman Abramovich and you build one of the biggest yachts in the world, you are then faced with actually finding a port that can hold the size of your yacht. At one stage it was reported that he was going to pay to have a dock extended, however he eventually found a couple of ports that could actually take such a large sized pleasure vessel.

Next comes the crewing part, some captains salaries alone can exceed €20,000 per month, then add to this some chief engineers which can be on €10,000 per month …and very quickly you are looking at vast funds just to keep the yacht fully crewed. Wage bills of €100,000 are not uncommon on the larger yachts employing some 50 crew.

As well as the crew on-board you also have your shore based crew, managing agents, financial staff etc. which can be added on top of this figure. Along with this comes the costs of providing food, toiletries and all living requirements for the crews on-board; feeding 50 people on a daily basis is no cheap undertaking.

Then comes the servicing costs of these yachts. Lifting the yachts out the water is by no mean feat and to service these technological advanced super structures and engines comes with a hefty price tag. Servicing costs for the larger yachts easily run into millions of pounds.

Super Yacht Toys

Add to all these costs the need for the latest toys and gadgets on board. The best looking, most advanced tenders are frequently custom build and often exceed the £1 million price bracket. Coupled with the essential need for the latest jet skis, helicopters, submarines, diving equipment and numerous other toys to make your yacht complete.

Safety and Security

Attacks from pirates is a growing threat and owners are all too weary of ensuring their prize possession is not held to ransom in foreign waters. Equipment such as lasers that can cause temporary loss of vision cost some €70,000 from SeaLase and demand for their product is reportedly growing.

Another product is the $450,000 "SeaOwl" tracking system, which combines radar and infrared or thermal cameras to detect incoming threats as far as five kilometers away. On top of this are the panic rooms, anti-paparazzi shields and armed security staff.

To cover the running and maintenance costs of a super yacht it is recommended that you allow some 10-12% of the purchase cost, meaning a £50 million pound yacht is likely to cost around £5 million a year to run and maintain. For some of the largest yachts it has been reported that it could be costing their owners over €50 million a year to run and maintain.

It has been reported that the average yacht is used for some three to five weeks, so justifying such a purchase to your accountant as a sound financial investment may prove difficult!

With costs like this it is easy to see why some of these yachts are hired for over £1 million for a week by guest, such a cost in the grand scheme of owning a yacht could bizarrely almost be deemed value for money! Chartering the yacht also provides some income to those owners not using their yacht on a regular basis.

So you can see why owning a super yacht must be one of the ultimate statues that money can buy, because not only owning a vessel will cost many millions to buy but running it will also cost millions.

For more information read Work on a Super Yacht: The Beginners Guide by Ben Proctor

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

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

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

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

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

How much is a yacht?

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

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

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

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

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

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

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

Here are the main ones you should be wary of.

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

It always cost you money to exploit your yacht.

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

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

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

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

Yachts maintenance: a cost that you should definitely not overlook

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

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

The maintenance costs include :

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

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

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

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

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

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

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

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

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

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

The depreciation’s price of a yacht

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

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

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

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

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

Here are the reasonable costs you could consider:

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

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

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

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

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

How to reduce the cost of yacht ownership?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Frequently asked question

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

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

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

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

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

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

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

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

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

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

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

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The Staggering Cost of Owning a Superyacht

The new york times pulls together what buying and running a $300 million yacht will set you back..

Just in time for Labor Day, the New York Times published a detailed accounting of what it takes to not only buy a superyacht, but keep that superyacht filled with the kind of fine art and ridiculous toys that sets your gigantic boat apart from all the other gigantic boats also filled with fine art and ridiculous toys.

Suggested Reading

The Times breaks down all of the costs for a middle-of-the-road $300 million yacht, from locating and paying a broker ($9 million) to the little luxury add- ons. You know, $1.5 million for an onboard disco here, $2 million for a panic room there. At least $3 million for crew salaries. The costs really pile up, until that $300 million pleasure cruiser is cresting costs over $400 million. Then there’s the art, which can cost as much as the whole boat. The most expensive painting ever sold, “Salvador Mundi,” by Leonardo da Vinci, is reportedly displayed on the yacht of Mohammed bin Salman , the crown prince of Saudi Arabia.

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Of course, much of the story is centered around Russian oligarchs and the “difficult” year they’ve had at sea. From the Times :

Fewer eye-popping vessels are departing from the ports of Monaco and Portofino, and recent world events have led to a reckoning with just how many of those boats are linked to unsavory money. After the invasion of Ukraine, more than a dozen yachts owned by people with ties to President Vladimir V. Putin of Russia were seized by European and U.S. authorities. Other such boats have landed in countries like Turkey and the United Arab Emirates, which have a relatively cozy relationship with Russia. (None of the alleged owners replied for comment for this article.) The seized boats range in size from about 130 feet (about three New York City buses) to about 500 feet (13 buses). At the highest end, they can cost on the order of $600 million, which is what Dilbar, by some measures the world’s largest yacht, reportedly sold for. (Dilbar, which is linked to the oligarch Alisher Usmanov , was seized by Germany in April.)

But what’s really the difference between a Russian oligarch’s superyacht and and an American’s? Nothing more than which agency seizes it after an investigation. Our homegrown oligarchs buy just as ridiculously elaborate vessels in order to “...absorb the most excess capital.” Jeff Bezos, the guy who nearly dismantled a major piece of infrastructure to get his yacht from the shipbuilders, eventually makes an appearance way down in the story in a section regarding dinghies ($80,000 and up):

Some of these trailing boats are megayachts themselves, like the estimated $60 million, 246-foot “yacht support vessel” that will follow Jeffrey Bezos’s $500 million, 417-foot schooner. Toys aboard a yacht support vessel might include a McLaren car (which have sold at auction for as much as $20 million), a helicopter ($3 million) or an increasingly de rigueur personal submarine ($2.5 million to $4 million), as well as an assortment of more pedestrian-priced toys like Jet Skis, Seabobs, A.T.V.s and underwater scooters.

And a billionaire who wants to catch tuna and marlin might have a fishing boat floating behind that can cost as much as $20 million.

The Times brings it back around to Russians though, mentioning off hand how oligarch and superyacht trendsetter Roman Abramovich once lost a 371-foot yacht in a poker game . As you take a break from your labors this weekend, maybe grilling up some burgers (or hotdogs, cause inflation) imagine what the life of someone who loses a 371-foot Yacht in a poker game looks like. Someone analogous to these type of folks run your own country and its largest employers. Then, join a union .

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How Much Does It Cost to Run a Superyacht?

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

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

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

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

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

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

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

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

Water Toy running costs

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

Berthing and cruising

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

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

Insurance, Medical & Maintenance

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

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

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

Fuel running costs

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

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

Safety equipment

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

Shore personnel 

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

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

Visit West Nautical for more information on yacht management services.

For the latest Superyacht News, click here .

West Nautical

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The cost of owning a superyacht in 2024

Written by Chloe - Thursday, April 06, 2023

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Crew: https://braymarineinternational.com/

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

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

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

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

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

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

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

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

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

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

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

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

Please note the information provided on this page should not be taken as advice and has been written as a matter of opinion. For more on insurance cover and policy wording, see our homepage.

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A Reintroduction to the Superyacht Cost Calculator

In October 2018 Luxury Yacht Group launches the third major revision to our superyacht cost calculator. The newest version has been built using our experience as professional yacht accountants and financial advisors. Our yacht management team has over 100 combined years of experience working with real operating numbers for superyachts. Additionally, we took feedback from hundreds of owners, captains and yachting industry experts who have been among the 15,000 users of the previous versions of this tool to make some major changes.

Some of the big changes:

• Expanded chart of accounts. Six major categories divided into 20 sub categories and a further 70 detail categories, making for a very detailed report.
• Advanced option to manually enter specific details and override our defaults, making the report completely customizable.
• Ability to save multiple budget versions and share your report with colleagues and other interested parties.
• Reports can be generated in US dollars, euros or pounds sterling.
• Very quick basic mode with sliders to adjust budget categories within a range of practical numbers.
• Easy to read graphical design.

Our yacht budget algorithm has been built to give yacht owners a realistic and honest budget projection. We have not created a tool that presents unrealistically low numbers to support our brokerage team. We are in the business of operating yachts to a high standard and the numbers that this tool outputs are realistic to achieve that goal with prudent and sensible decision making.

When using the sliders, we make the following general recommendation for where to position them:

Low – 0 to 25%: Operating at these levels requires very careful planning and prudent decision making. To maintain budget levels in this zone requires compromises from the owner. Owner visits need to be planned well in advance and the captain must be an excellent trainer to bring up crew from lower pay grades to perform well. We generally only recommend a budget in this zone in very special circumstances.

Conservative – 25 to 40%: Yachts operating in this budget level are operated very efficiently. Ownership gives the crew a good amount of notice to plan trips that don't require significant travel between locations. Owner allows for some engineering deficiencies to carry through the cruising season so that they can be repaired efficiently during planned maintenance periods.

Sweet spot – 40 to 65%: Our yacht management team likes operating within this budget area. Owners are still good planners providing at least 21 days' notice before using the yacht, but there is budget available to make urgent repairs should something break during the cruising season. The yacht runs to a high standard and you are hiring great crew.

Generous – 65 to 85%: Standards and flexibility are high. You are operating a busy yacht with occasional last-minute visits. Crew are at the top of their game and delivering to a peak level. Due to heavy work load you may see the need to have extra crew available and possibly rotate some.

Perfection seeking – 85 to 100%: In this zone there are no excuses for the yacht to be anything but perfect at all times, and we would class the yacht as running with unlimited budget.

If you would like a budget expert to discuss your specific yacht and her operating costs, please email [email protected] .

Our price list for our accounting and all services is available on our website at: Price List

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Those familiar with the yachting industry understand that crew turnover is a constant. While the selection and hiring process is often seen as a necessary evil, a standardized hiring process can turn a distasteful task into something much simpler. The increased efficiency of a process can translate into identifying the best candidates faster and with less effort.

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Yacht Maintenance Cost. The Real Costs of Owning a Superyacht

23rd oct 2023 by samantha wilson.

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

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

Yacht maintenance cost

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

Yacht f uel costs

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

Berthing and mooring costs

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

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

Owner-on-board costs

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

Super yachts crew salaries

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

Super yacht repairs

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

Super yachts taxes and insurances

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

Communication Costs

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

Super yachts tenders and toys

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

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

Written By: Samantha Wilson

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

More from: Samantha Wilson

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How Much Does a Superyacht Cost? (The Surprising Truth)

Who hasn’t dreamed of owning a superyacht? After all, these vessels are the ultimate symbols of luxury and success, often seen in the hands of the world’s wealthiest individuals.

But what exactly does a superyacht cost? In this article, we’ll uncover the surprising truth behind the prices of these magnificent vessels.

We’ll look at the cost of smaller and larger superyachts, the factors that can affect the prices, the most expensive superyacht ever built, and how to get the most for your money.

So, if you’ve ever wondered how much a superyacht costs, read on!

Table of Contents

Short Answer

The cost of a superyacht can vary greatly depending on the size, amenities, and features the yacht includes.

Generally, a superyacht can cost anywhere from a few million dollars to over $100 million.

The cost of the yacht can also depend on the type of materials used and the level of customization.

For example, a superyacht with a helipad, multiple decks, and luxurious furnishings can cost significantly more than a basic superyacht.

What Is a Superyacht?

A superyacht is a luxurious, multi-story, multi-million dollar vessel, typically used for leisure and pleasure-seeking.

They are often custom-made to meet a buyer’s exact specifications, and can feature a variety of amenities, from helipads to private spas and cinemas.

They are usually powered by multiple diesel engines, and can have a top speed of over 20 knots.

Superyachts are owned by some of the world’s wealthiest individuals, and are often used for luxury cruises, parties, or even business meetings.

The cost of a superyacht can vary greatly depending on its size, amenities, and other features.

Smaller superyachts can range in price from a few million dollars up to tens of millions.

Larger vessels, meanwhile, can cost hundreds of millions of dollars.

The most expensive superyacht ever built, the History Supreme, sold for a staggering $4.5 billion.

Ultimately, the cost of a superyacht is determined by its buyer’s individual preferences and budget.

Smaller Superyacht Prices

When it comes to the cost of a superyacht, it is important to consider the size of the vessel.

Smaller superyachts, such as those measuring up to 50 meters, can range in price from a few million dollars to tens of millions of dollars.

These vessels are usually built with luxury in mind, featuring features like multiple decks, salons, bedrooms, bathrooms, and other amenities.

Many also come equipped with a variety of recreational features such as swimming pools, spas, and sports facilities.

Because of their smaller size, these superyachts are typically less expensive to maintain and operate than larger vessels.

They are also easier to transport and maneuver.

However, they don’t offer the same level of luxury and amenities as larger superyachts.

The cost of a smaller superyacht will also depend on its age, condition, and the features it includes.

For instance, newer models may come with more modern features and amenities, such as satellite TV and Wi-Fi, which can add to the overall cost.

Similarly, superyachts with higher-end materials, such as marble or teak, will also cost more.

In addition to the purchase price, buyers should also consider the cost of maintenance, repairs, and upgrades.

Smaller superyachts may require more frequent maintenance, as well as additional costs for fuel and staffing.

For those looking to purchase a smaller superyacht, it is important to factor in these additional costs when deciding on a budget.

Larger Superyacht Prices

When it comes to superyachts, size really does matter.

While smaller superyachts can range in price from a few million dollars up to tens of millions, larger vessels can cost hundreds of millions of dollars and even more.

In fact, the most expensive superyacht ever built, the History Supreme, sold for an astonishing $4.5 billion!

The cost of a larger superyacht is determined by the size of the vessel, the number of amenities and features it offers, and the quality of the materials used in its construction.

The more luxurious the vessel, the higher the price tag.

For example, a well-appointed, 320-foot superyacht with all the bells and whistles can easily cost in the hundreds of millions of dollars.

In addition to the cost of the vessel itself, there are also ongoing operational costs associated with owning a superyacht.

These can add up quickly and include fuel, maintenance, crew salaries, insurance, dockage, and more.

However, these costs can vary greatly depending on the size and type of vessel, as well as the number of amenities and features it offers.

When it comes to superyachts, the sky truly is the limit.

Whether youre looking for a smaller vessel or a multi-million dollar mega-yacht, the cost will ultimately be determined by your individual preferences and budget.

Factors That Affect Superyacht Prices

When it comes to the cost of a superyacht, there are several factors that can affect the final price.

The size of the vessel is one of the primary considerations, as larger yachts typically cost more than smaller ones.

The amenities and features of the yacht can also influence the final cost.

For instance, a yacht with extensive customizations (such as a Jacuzzi or helipad) or high-end materials (such as carbon fiber or mahogany) may cost more than a standard yacht.

Additionally, the cost of maintenance and upkeep should be taken into account, as these can quickly add up over time.

Finally, the buyer’s individual preferences and budget will play a significant role in determining the total cost of the superyacht.

The Most Expensive Superyacht Ever Built

The most expensive superyacht ever built is the History Supreme, a 100-foot-long vessel that sold for a staggering $4.5 billion.

The luxurious yacht was commissioned by Robert Kuok, a Malaysian tycoon, and it took three years to build.

The exterior of the superyacht is made from solid gold and platinum, while the interior is adorned with a wide range of luxury features, including a statue made from genuine Tyrannosaurus Rex bones.

The luxurious amenities also include a master suite with a Jacuzzi, a wine cellar, and a helipad.

The History Supreme is a truly remarkable vessel and it is the epitome of opulence and excess.

It is an excellent example of how much a superyacht can cost when a buyer has a virtually unlimited budget.

Superyacht Amenities and Features

The cost of a superyacht is determined by the size, amenities, and features the buyer chooses.

Superyachts come with a variety of amenities and features that can add to the cost, such as luxurious interiors, multiple decks, state-of-the-art technology, and more.

Luxury interiors may include marble floors, custom-made furniture, and high-end appliances.

The number of decks can range from two to seven, with each deck offering different activities and amenities.

Superyachts can also come equipped with spas, fitness centers, hot tubs, swimming pools, movie theaters, and private areas for entertaining.

State-of-the-art technology can include advanced navigation systems, satellite communications, and high-end audio and visual systems.

The features and amenities of a superyacht will add to the overall cost and can range from a few million dollars to hundreds of millions of dollars.

How to Get the Most for Your Money

If youre looking to purchase a superyacht, youll want to make sure you get the most bang for your buck.

While the cost of a superyacht can vary greatly, there are certain factors that can help you get the most for your money.

First and foremost, its important to consider the size of the yacht.

The larger the vessel, the more expensive it will be.

However, if youre looking for something luxurious and comfortable, then a larger yacht may be worth the investment.

Additionally, if youre looking to entertain guests, a larger yacht can provide more space for them.

Amenities and features are also an important factor when it comes to determining the cost of a superyacht.

If youre looking for something that has all the bells and whistles, then you can expect to pay more.

This includes things like a helipad, swimming pool, Jacuzzi, and other luxuries.

Additionally, you may want to consider the number of crewmembers youll need.

The more crewmembers you have, the more expensive the yacht will be.

Finally, its important to consider the cost of maintenance and upkeep when determining the cost of a superyacht.

Superyachts require a lot of maintenance and upkeep, and the cost of these services can add up quickly.

If youre looking to get the most for your money, it may be best to purchase a yacht that is easy to maintain.

Ultimately, the cost of a superyacht varies greatly depending on its size, amenities, and other features.

By considering the size, amenities, and maintenance costs of a superyacht, youll be able to get the most for your money.

Final Thoughts

Whether youre looking for a smaller superyacht or something larger, understanding the various factors at play can help you get the most for your money.

From extra amenities to the latest features, luxury superyachts can provide a one-of-a-kind experience.

So if youre ready to explore the world in style, start exploring the cost of your dream superyacht today!

James Frami

At the age of 15, he and four other friends from his neighborhood constructed their first boat. He has been sailing for almost 30 years and has a wealth of knowledge that he wants to share with others.

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How much does a superyacht really cost.

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What do Google Chairman Eric Schmidt , the Prime Minister of the United Arab Emirates and Steven Spielberg  have in common? Besides being fabulously wealthy, they're also on an elite list of the world's few superyacht owners.

It's no secret that superyachts are, well, expensive. The world's largest private vessel, Khalifa bin Zayed Al Nahyan's Azzam , reaches an astounding 180 meters (590 feet) and cost $600 million to build. In fact, eight of the ten most expensive luxury acquisitions of all time fall under the superyacht category.

And while a superyacht alone can cost tens -- or sometimes, as in the case of the Azzam , hundreds -- of millions of dollars, the annual upkeep costs can also reach into the seven figures, according to a report by Towergate Insurance .

So just how much does a superyacht cost? The reports finds that on average, a 100-meter superyacht with a top speed of 25 knots and 50 crew members should cost around $275 million. Considering the 30 largest superyachts are all longer than 100 meters, they can often cost significantly more.

Lazzara 80 Alchemist (Photo D Ramey Logan/Wiki Commons)

Gas prices, general maintenance, taxes and crew salaries are typically the biggest sources of added expenditure for owners. Towergate estimates that annual dockage fees run for $350,000, insurance averages $240,000 and maintenance and repairs can be in the millions, as can crew salaries. Overall, the owner should expect to spend about 10% of the yacht's initial cost on annual upkeep.

Captains report making anywhere from $70,000 a year on smaller vessels to $180,00 a year on larger vessels, while other members report significantly lower incomes. But considering the  Azzam employs some 50 people, that's quite a payout. Smaller vessels, including the 88.12-meter  Maltese Falcon and the 79.25-meter Venus  reportedly employ between 18 and 22 people. The  Al Said , owned by the Sultan of Oman, employs 154 crew members.

Gas prices may be decreasing on land, but it's a completely different story on the open water. 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 harbor. (Valery ... [+] Hache/AFP Photo/Getty)

What else does the report tell us about these impressive vessels? A lot about their owners, for one. Towergate found that of the nationalities of 125 owners it was able to identify, 14% were American, followed by Russians. But like most other luxury sectors, the biggest gains year-to-year were Asian owners, who purchased 11% of the superyachts delivered in 2014 as compared to just 3% in 2011.

In 2013, 355 superyachts were sold, totaling $3.4 billion. Ten-percent of yacht purchases are paid in-full immediately, and owners typically own their vessels for no more than three years before flipping them.

And price and length aren't the only features worth bragging about. Many come equipped with bomb-proof windows, motion sensors, biometric fingerprint entry and escape pods. Venus , owned by Steve Jobs ’ family, has a large pane of special glass around the side to resemble an Apple store. The  Eclipse,  owned by Russian businessman Roman Abramovich, boasts two swimming pools and two helicopter pads, and a three-man "leisure" submarine.

Other notable superyacht owners mentioned in the report include director Steven Spielberg, America business magnate David Geffen and Greek hedgefund owner  Elena Ambrosiadou .

Follow me on Twitter: @AliciaAdamczyk

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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.

The Cost of Owning a Yacht: A Detailed Breakdown

• by yachtman
• August 26, 2023 June 22, 2024

Yachting is a luxury and exciting experience. But have you ever thought of the cost of owning a yacht ? Let’s take a dive into the details and explore the financial part of owning a yacht.

As you start your yachting journey, there are various costs to keep in mind. The purchase price of a yacht can range from hundreds of thousands to millions , depending on its size, brand, and features. Plus, there are annual maintenance charges to keep the yacht in tip-top condition. These include insurance fees, dockage fees, regular maintenance and repairs, and crew salaries if you hire one.

Fuel consumption is also a major expense for yacht owners. The bigger the vessel, the more fuel it needs to sail the waterways. Fuel prices change all over the world and can affect your budget significantly.

You also have to think of mooring or berthing fees . They depend on your location and whether you want marinas or private docks. Marinas with great facilities usually cost more than basic dockage options.

Pro Tip: Make a thorough budget, including the initial purchase cost and ongoing expenses like maintenance, fuel, insurance, and berthing fees. By planning in advance and considering all costs of owning a yacht, you can avoid any financial surprises.

Owning a yacht is a luxurious and prestigious thing. But, it’s important to be aware of the financial commitment. With proper preparation and a good budgeting plan, you can enjoy your yachting trips without worrying about money.

The allure of yacht ownership

A yacht is alluring. People from all walks of life are drawn to the promise of luxury, adventure, and escaping land. What makes yacht ownership so tempting? Here are 6 points:

• Explore: With a yacht, you can explore the beauty of untamed waters. From coves to islands, it’s a world of opportunity.
• Status: Yacht ownership symbolizes success and affluence. It grabs attention.
• Comfort: Yachts are designed for ultimate comfort for owners and guests. Cabins and amenities make it luxurious.
• Adventure: Owning a yacht opens up thrilling experiences – like deep-sea fishing and water sports.
• Privacy: Aboard your own yacht, you can escape the world and enjoy privacy. It’s a sanctuary.
• Memories: Host unforgettable parties or share intimate moments with loved ones against a stunning ocean backdrop.

Yacht owners have the chance to customize their vessel. Plus, there are networking opportunities and investment potential. But remember – maintenance, crew salaries, and fuel expenses can add up quickly. Think about your financial abilities before taking the plunge.

The initial purchase cost

To understand the initial purchase cost of owning a yacht, let’s delve into the factors that influence the cost. Additionally, we’ll explore the average price ranges for different yacht types. This will provide you with a comprehensive breakdown of the expenses involved in becoming a yacht owner.

Factors that influence the cost

Different elements can hugely vary the cost of a purchase. Materials, production techniques, transport expenses and extra features or customizations can all affect it. Businesses must take this into account to accurately work out the initial cost and make wise decisions.

To better understand these elements, let’s look at this table:

By studying this, firms can figure out what elements are important for the cost. This allows them to choose appropriate pricing and financial planning.

Other details can also influence the purchase cost. These may relate to the demand for a product, currency exchange rates or laws in different countries. Companies must be aware of these things to adapt their pricing strategies and make profit.

It is clear that careful evaluation is necessary to make informed business decisions.

Size and type of yacht

The size and type of a yacht is a key factor in its purchase price. Here’s a table with examples :

Other details, like engine power, fuel capacity and navigation systems can greatly affect the initial cost and long-term expenses.

Believe it or not, yachts have been used for leisure since ancient times – evidence from ancient Egypt! (source: maritimehistory.org)

Brand and quality

Brand and quality have a big impact on the initial purchase cost. Reputable brands with good reliability can be pricier, but they often offer better durability and performance , which can save money over time.

Take a look at this table:

Higher quality products from reliable brands are more expensive . They invest in research, development, and manufacturing to ensure their products meet high standards.

Low-quality brands may be cheaper, but they often come with poor durability and performance . Eventually, the frequent replacements or repairs can make them more expensive in the long run.

To decide on the right brand and quality, consider these tips:

• Read customer reviews : Check what other customers have said about the product before buying it. This will give you an idea of its durability and performance.
• Compare prices : Look at different brands offering similar products. You may find some less popular brands that offer great quality at a lower price.
• Think long-term costs : Think beyond the initial purchase cost and look at factors such as warranty coverage, maintenance requirements, and potential repair costs. Spending more on a higher-quality brand may save money in the future.

It all comes down to finding the balance between upfront costs and long-term value. Research the product and consider all aspects of performance to make a decision that fits your budget and quality expectations.

Features and customization

Features and customization have a big role in the initial cost. These things decide the product’s functionality and how well it fits a person’s needs.

• Features: A product with lots of features can make it more valuable. Customers are often willing to pay more for products with new and interesting features like tech, better performance, or extra functions.
• Customization: Being able to change a product to what people want is appreciated. Customization lets people adjust the product to their needs, leading to more satisfaction and loyalty. It includes things like color choices, design variations, and personalized settings.
• Flexibility: Products that let people switch features and customize are popular. Flexibility lets users change the product as their needs change, so they don’t have to buy a new one or upgrade. This adds more value and lowers costs.

Research has also shown that features and customization affect customers’ buying choices (Smith et al., 2020). Companies can use this information to create products that match what people want while still making a profit.

Average price ranges for different yacht types

Considering buying a yacht? It’s useful to know the average prices of different types. Check the table below to get an idea:

Keep in mind these are just general ranges. They could vary depending on size, age, brand, and features. That’s why you should factor in these things when deciding the cost. In addition to the purchase cost, there are other expenses such as maintenance, fuel, insurance, docking, and crew wages. Make sure to budget for these too. To make the best of your investment, here are some tips:

• Research: Take your time to investigate different yachts and their costs.
• Consider pre-owned: Buying used can be more affordable. But get it checked by a surveyor first.
• Budget: Plan for ongoing costs. Have a clear understanding before buying.
• Consult: Speak to experienced brokers or yacht owners. They can offer advice and help pick the right yacht.

By doing this, you can manage the purchase cost and later expenses better. That way, you’ll have a pleasant yacht ownership experience without any unpleasant surprises.

Ongoing expenses

To manage the ongoing expenses of yacht ownership, you need to consider various factors. This includes maintenance and repairs, docking and mooring fees, insurance and registration fees, crew and staffing costs, as well as fuel, maintenance, and other operating expenses. By understanding these sub-sections, you can better plan and budget for the financial obligations that come with owning a yacht.

Maintenance and repairs

Regular maintenance is key to preventing breakdowns, reducing downtime, and avoiding costly repairs. Timely inspections can help spot potential issues before they worsen. A tailored preventive maintenance schedule can help reduce unexpected breakdowns and extend asset life. Investing in quality materials for repairs results in more durable fixes and fewer recurring issues.

Maintenance not only saves money but also promotes a safe working environment. It reduces the risk of accidents and helps comply with safety regulations.

To optimize processes:

• Create a maintenance plan that fits your specific needs and requirements. This includes scheduled inspections, routine servicing, and protocols for handling repairs.
• Train employees on proper equipment handling and basic troubleshooting. This can prevent major breakdowns or delays.
• Establish relationships with reliable suppliers who offer quality parts at competitive prices. Having access to replacement components quickly can minimize downtime during repairs.
• Outsource certain maintenance tasks to specialized professionals who have the expertise for complex repairs or intricate machinery.

By approaching maintenance and repairs proactively, you can reduce risks, costs associated with extensive damage, minimize downtime, enhance workplace safety, and extend asset life.

Docking and mooring fees

Ongoing costs for a boat? Unavoidable. One of these expenses is docking and mooring fees . These fees pay for securing your boat at a marina or dock. Plus, you get essential services.

Let’s check out the costs:

• Annual Contract Fees: Get 1-10k per year from marinas for annual contracts. It depends on the size of the boat and the marina’s location.
• Daily or Weekly Rates: Short-term stays or occasional trips? Marinas offer daily or weekly rates. Varying prices, depending on season, location, and amenities.
• Extra Services: Some marinas have extra services for extra fees. This could include electricity, water, Wi-Fi, laundry, showers, waste disposal, and security.
• Seasonal Discounts: Marinas offer discounts during quieter months. This could save you a good chunk of cash if you plan your trips well.

But remember, certain locations have restrictions which could affect availability and fees. A sailor I know once visited a coastal town. He found out that the marina had recently doubled their fees due to peak summer demand! That was an expensive lesson in researching local rates.

These fees are important to manage expenses. Stay informed about costs and make informed decisions. Then you can enjoy your boating without it hitting your wallet too hard.

Insurance and registration fees

Insurance: Car insurance is necessary when owning a car. It offers financial protection in case of accidents, theft, or damage. Your premiums depend on driving history, age, car type, and coverage options.

Registration fees: Registering your vehicle is essential. This involves paying a fee for road maintenance and costs. The fee varies based on the vehicle, value, and local regulations.

Renewal frequency: Both insurance and registration fees need to be refreshed often. Insurance usually lasts a year or less, while registration fees may be yearly or bi-yearly. Remembering renewal dates is key to avoid gaps in coverage and fines.

Cost-saving measures: Compare quotes from different providers, go for higher deductibles, or bundle multiple vehicles together to reduce insurance costs. Look out for discounts and incentives to save money on registration fees.

Pro Tip: Review your insurance periodically. Reassessing your needs can lead to savings without weakening protection.

Crew and staffing costs

The table below outlines the breakdown of crew and staffing costs:

This data showcases the amount spent on salaries, benefits, training and uniforms . Investing in staff is vital to the success of an organization.

Cost-saving measures can be implemented without compromising quality. Job analyses can help identify roles that can be merged or outsourced. Additionally, training programs can be optimized to equip staff with necessary skills.

Organizations must aim to strike a balance between financial prudence and employee excellence. Doing so supports operational success and values the contribution of all individuals.

Fuel, maintenance, and other operating expenses

Let’s take a look at the breakdown:

• Fuel costs $500,
• maintenance $300,
• operating supplies $200,
• insurance $150,
• and licensing fees $100.

All this adds up to $1,250.

Fuel can be a large expense for transport-based businesses. Maintenance keeps equipment running. Operating supplies, like stationery and raw materials, are needed daily. Insurance and licenses protect your business.

The amounts may differ depending on your business and industry standards. You should keep track of these items for budgeting and cost reduction. Monitor these figures to stay financially stable and to grow your business. Keep an eye on fuel, maintenance, and other operating costs – they affect your bottom line. Proactively assess these expenses to ensure your success!

Hidden costs and unexpected expenses

To better navigate the hidden costs and unexpected expenses associated with owning a yacht, equip yourself with knowledge about depreciation and resale value, upgrades and renovations, taxes and legal considerations, as well as safety and security measures. These sub-sections offer valuable insights that will help you make informed decisions and mitigate potential financial surprises.

Depreciation and resale value

Check out the table below. It shows the decrease in a vehicle’s resale value caused by depreciation.

It’s clear that depreciation leads to financial losses. Don’t forget to consider other factors too like mileage, maintenance history, and market demand.

Let me give you an example. My friend sold his 1-year-old car that he bought for $30k . But he only got $24k for it. That’s a big drop in value in just a year. He was not expecting that extra expense.

Upgrades and renovations

Unexpected costs in Upgrades and Renovations can shock any homeowner. To make sure you enjoy your dream home without any financial worries, prepare a special emergency fund for unplanned expenses. Ready for surprises? Then you can have peace of mind during the renovation process.

Structural issues, fluctuating material prices, contractor delays, permit fees, fancy finishes and appliances, and hidden complications behind walls can all unexpectedly drive up costs. Be wise and set aside some money – you’ll be prepared to tackle any surprise!

Taxes and legal considerations

Let’s delve into a table that shows key points on taxes and legal considerations:

Legal compliance means following the laws.

Each jurisdiction has different rules on taxation and legal requirements. It is important to know the nuances. John , a self-employed person, found this out the hard way. When he started selling handmade crafts online, he didn’t understand his tax obligations.

John was surprised when he got a notice asking for backdated tax. He hadn’t accounted for income or sales tax from his online transactions. This cost him expenses and stress. This story reminds us how essential it is to be educated on taxes and legal considerations.

Safety and security measures

Conducting regular risk assessments is necessary. Identify risks, assess them and figure out the level of harm they may cause. This will help ward off potential vulnerabilities.

Robust access control systems must be set up. This will limit access to authorized personnel only. Technologies like biometric authentication or RFID cards can take security to a higher level.

Emergency response plans and procedures are a must. Train employees about evacuation protocols. Also, set up communication channels and rehearse drills often. This will help to reduce harm and disruption.

Moreover, safety audits can be done to check safety measures and find areas for improvement. Independent professionals usually carry them out. They look into compliance with standards and best practices.

Financing and ownership options

To better understand financing and ownership options for yachts, delve into the following sub-sections: buying outright, fractional ownership, and chartering and rental opportunities. Discover how each solution offers a unique approach to yacht ownership, giving you the flexibility to choose the option that aligns with your needs and preferences.

Buying outright

No installment plans? No problem!

Immediate ownership, without a worry of interest or financing terms.

This can be great for those with the funds to buy outright.

But, remember! Carefully consider your budget and ensure enough funds for other essential expenses.

Fractional ownership

Plus, fractional owners get other special privileges like access to exclusive amenities, potential tax benefits, and the reward of capital appreciation. These extra perks heighten fractional ownership’s overall appeal as an investment.

Pro Tip: Before entering any fractional ownership agreement, be sure to carefully review all legal paperwork and consult a financial advisor who is an expert in this field. This makes sure that you understand your rights, duties, and all the potential risks linked to such investments.

Chartering and rental opportunities

Here’s a breakdown of some key points about chartering and rental opportunities:

Opportunity: Boat Charter.

Description: Cruise the open seas with friends or family on a rented boat.

Opportunity: Car Rental.

Description: Rent a car that fits your needs and travel easily.

Opportunity: Vacation Home Rental.

Description: Get the comforts of home while in a new place.

Opportunity: Equipment Leasing.

Description: Gain access to specialized equipment for business operations.

The flexibility of these opportunities means you can try them out before committing. Plus, no need to worry about maintenance or ownership costs.

Pro Tip: Read the terms and conditions before entering any rental or charter agreement, to make sure you know your rights and responsibilities.

Other considerations

To make informed decisions about yacht ownership, you need to consider several other factors. In order to address “Other Considerations,” such as yacht clubs and memberships, location and cruising grounds, as well as lifestyle and time commitment. Let’s delve into these sub-sections to get a complete understanding of these additional aspects.

Yacht clubs and memberships

Yacht clubs provide lots of advantages. These include:

• Access to top-notch marinas with modern amenities.
• Chances to cruise with other enthusiasts, creating friendship.
• Invites to regattas and special events hosted by the club.

Members also get benefits such as:

• Coaching and training for those who are starting out or want to improve.
• Social gatherings like themed parties, galas, and networking evenings.
• Discounts on boat rentals and charters.

Some yacht clubs are special, with a link to maritime history. They are living reminders of the past and help people make connections with others who share their love for sailing. An example is the Royal Yacht Squadron in Cowes. Founded in 1815 with a royal warrant from King George IV , it hosts races like Cowes Week . Here, sailors from around the world come together to be part of sailing history.

Location and cruising grounds

Sailing on your journey? Greece’s sun-kissed coasts and islands have a rich history and charm. Or feel the Caribbean’s warm embrace, with coral reefs waiting to be explored. Each place offers lots of exciting things for sailing lovers.

Weather, facilities, and rules matter too. In the Mediterranean, ‘Meltemi’ winds can be tricky even for pros. While in Pacific Northwest, rain showers can surprise you.

I sailed across the South Pacific and found French Polynesia. Crystal-clear lagoons and vibrant marine life filled me with wonder. A pod of playful dolphins left me breathless. There are so many wonders to explore in the seas!

Picking a place for sailing is hard, but it’s worth it. Let the wind take you to a unique adventure.

Lifestyle and time commitment

Leading a fulfilling life and managing time well are essential when considering any commitment. There are several factors to keep in mind that can affect your experience. Here’s what to consider:

• Flexibility is key: Before you commit, think about if the lifestyle and time needs match your flexibility. Some require more rigid schedules, while others have more freedom. Knowing your availability and likes helps make sure it’s a good fit.
• Prioritization is important: Everyone has unique priorities. Check how the commitment matches your other obligations and goals. Prioritizing activities by importance and impact helps you use time wisely and avoid feeling overwhelmed.
• Mindful self-care: Commitments can be great, but don’t forget to take care of yourself. Make sure you have time for rest, relaxation, and renewal. Self-care practices can help you be productive and stay well.

Remember, everyone’s lifestyle and time management needs are different. Some thrive with structure, others with more flexibility. Find what works for you.

When considering commitments, find people or mentors who have dealt with them before. This can give you helpful insights for making the best lifestyle choices.

To manage lifestyle and time commitments:

• Prioritize tasks, deciding which are essential and which are lower priority.
• Establish boundaries and learn to say no when needed. This helps protect your time and stops overcommitment.
• Use time management techniques and tools. Calendars, planners, and apps can help you schedule, remember, and track progress.

Owning a yacht is an indulgence requiring thought. Let’s recap the principal points of this article:

• Acquiring a yacht has initial expenses like the purchase cost, taxes, and registrations.
• Maintenance and repairs can be costly, from regular cleaning to engine work and hull upkeep.
• Berth fees depend on the marina and location.
• Insurance coverage is essential for yachts.

Also, owning a yacht lets you experience unique leisure and exploration. Contrastingly, chartering or fractional ownership may be better for those not wanting a full financial commitment.

For cost-effectiveness, these tips are helpful:

• Look for dealers with good prices.
• Think about joining yacht clubs or shared ownership.
• Create a budget for expenses like maintenance, insurance, mooring fees, fuel, and crew salaries.
• Check the market value for your yacht to see if upgrading to a newer one is more economical in the long run.

By using these recommendations, individuals can own a yacht without breaking the bank, while still enjoying its luxuries.

Additional resources and references

Five key points to factor in when understanding the cost of yacht ownership are:

• Yacht ownership cost calculators . These online devices can help gauge the various expenses that come with owning a yacht. Maintenance, fuel, insurance, and docking fees can all be estimated.
• Boat finance companies . If you’re looking for a loan to purchase a yacht, these firms can provide information on interest rates and repayment plans.
• Yachting forums and communities . Connecting with experienced yacht owners can be a great way to get maintenance tips, cost-saving strategies, and recommended service providers.
• Industry publications . Magazines and websites that focus on yachting offer useful articles and features about buying guides, model reviews, and expert advice.
• Yacht brokers . Brokers can assist with the purchase or sale of a yacht. They have knowledge of market trends, pricing dynamics, and legal procedures.

Marinas can also offer educational programs or seminars to yacht owners. These cover navigation, safety, and maintenance practices.

Pro Tip: Prioritize resources that cater to your needs and circumstances when researching about yacht ownership costs. This will make sure you get relevant info.

Frequently Asked Questions

Q: How much does a yacht cost?

A: The cost of a yacht can vary greatly depending on various factors such as size, brand, age, and amenities. On average, a new yacht can cost anywhere from $100,000 to several million dollars.

Q: What are the ongoing expenses of owning a yacht?

A: Owning a yacht comes with several ongoing expenses, including docking fees, insurance premiums, maintenance costs, fuel expenses, and crew salaries (if applicable). These costs can add up to a significant amount each year.

Q: Are there any hidden costs associated with yacht ownership?

A: Yes, there can be hidden costs associated with yacht ownership. These can include unexpected repairs, upgrades, and replacements for various yacht components. It is important to budget for these potential expenses.

Q: How much should I budget for annual maintenance and repairs?

A: A good rule of thumb is to budget around 10% of the yacht’s value for annual maintenance and repairs. However, the actual amount can vary depending on the yacht’s age, condition, and usage.

Q: What are the financing options available for purchasing a yacht?

A: There are various financing options available for purchasing a yacht, including yacht loans, leasing, and fractional ownership. It is advisable to consult with financial institutions specializing in yacht financing to explore the best option for your specific needs.

Q: Are there tax implications associated with yacht ownership?

A: Yes, there can be tax implications associated with yacht ownership. These can include sales tax, property tax, and income tax. The specific tax regulations vary depending on the country and state. It is recommended to consult with a tax professional familiar with yacht ownership to understand the applicable tax laws.

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How Much Does It Really Cost To Own & Run A Superyacht?

If you think it’s hard work maintaining your tinny for weekend fishing trips up the river just take a minute to think about the costs involved in owning your own superyacht. Over the past decade, these behemoths of the sea have become the pinnacles of wealth and success for those with only the deepest of pockets.

These luxurious floating mansions are reserved for Russian billionaires, Saudi Princes and Hollywood celebrities, but if you’re lucky enough to win the lotto you might be able to join the upper echelon of society and own your own superyacht also.

The general rule? On average, owners pay 10% of the yacht’s value in up-keep costs per year, not including crew wages.

Initial Cost Of A Superyacht: ~ $10 Million

The cost of a superyacht varies depending on the size and technology it comes with. Chelsea owner Roman Abramovich’s Eclipse is a 533-foot monster that cost the billionaire $500 million, while America business mastermind David Geffen spent a cool $200 million on his 454-foot superyacht.

Registering Your Yacht: ~ $2,500

Just like any normal vehicle you have to register your brand new superyacht. This is a very important first step as choosing the flag and country of origin you want to register your yacht in can give some great benefits, especially when it comes to tax cuts. The Cayman Islands is a favourite amongst the super rich due to its tax breaks and relatively cheap registration fee, especially when compared to the actual cost of the yacht.

Insurance: ~ $353,850

As well as registering your new nautical explorer you’re going to want to make sure it’s insured. As you can imagine, insuring something as expensive as a superyacht isn’t cheap, so expect to fork out a few hundred thousand every year to make sure you’re covered.

Dockage: – $942,000 (Purchase)

The price varies from port to port across the world, with some docks charging up to six grand a night for casual slots. This 100-foot slot in Antibes is going for a lazy 590,000€ ($942,000) if you’re in the market to buy.

If you want a spot in Port Hercules over Formula 1 weekend, you’ll be looking at $35,000 AUD for a Zone 1 spot from May 20th till May 27th for our yacht size in question, which really isn’t too outrageous.

Fuel: ~ $472,000

If you think everyday fuel prices for your automobile are expensive than you might want to turn away now. Using around 400 litres of fuel an hour, a 100-foot superyacht is going to set you back another half a million to make sure you don’t run out of gas in the middle of the ocean if in use for the majority of the year.

Maintenance & Repairs: ~ $400,000

Like anything mechanical, a superyacht is prone to suffering wear and tear over the years. From routine maintenance to fixing blown motors and electrical equipment, the annual cost can be extravagant but is part and parcel of owning such an expensive toy.

Crew: ~ $876,000

Unless you’re a trained captain steering your own yacht and making sure the day to day running goes smoothly, you’ll have to employ staff to over see operations. Captains cost roughly $1,400 per year per foot of boat – that’s $156,000 or so to command a mere 100-footer according to Forbes.

Deckhands and stewards are relatively cheap at $40,000 to $70,000 per year which is supplemented with you shouting them accommodation and food, but a good chef will cost you at least $100,000 a year. You’ll also need roughly one deckhand for each guest, and we’re assuming you can comfortably fit 8 amigos. And did we mention an engineer? Because hey, we all know boats break down all the time. That’ll set you back at least another $140,000.

Total: ~ $13 million

If you add up the initial cost of your 100-foot superyacht and your yearly expenses you’re looking at roughly $13 million for the first year, then around $2.1 million every year after to maintain it (assuming you pretty much live aboard and minus the purchase costs of the berth & yacht). So the short answer? A fuckload. Maybe in another life.

RELATED: The 750-foot Project Valkyrie will be the world’s largest superyacht

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The real cost of owning a yacht

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

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

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

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

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

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

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

Sample 10 million Dollar yacht running costs:

Annual Operating Expenses $1,250,000

Capital Repairs & Reserves  $150,000

Total Expenses $1,400,000

Share it, charter it, or both.    

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

Connect with our Luxury Yacht Advisor to learn more. 

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

https://www.avyachts.com/what-we-do

The Howorths

What Does it Cost to run a Super Yacht?

If you have to ask you cannot afford it

Rather like the age-old answer given by a Rolls Royce salesman to someone who asked what were the running costs of the new Phantom “ If you have to ask, you cannot afford on ” the true costs of running a superyacht are shrouded in myth and mystery.

A new Cost Calculator from the Luxury Yacht Group a full service yachting company that specialises in brokerage, charter, management and crew placement services is set to sweep away those doubts.

The company with offices in Antibes and Fort Lauderdale has released an updated edition of their superyacht reporting system with features to provide accurate customised annual cost reports.

The Annual Cost Calculator, is an online tool for managers, captains and owners and can help predict annual operating costs for yachts or perspective superyacht purchases. Written especially for yachts between 24 and 100 metres, it predicts on what can seem to be an endless list of expenses throughout the year. This is then presented in a report customised for that specific yacht that can be printed or emailed to the user.

To ensure accuracy the cost calculator uses fifty points of data to tailor an annual report. Users enter specifications about the vessel in question and click; submit to view their own specific costs report. The customised breakdown shows expenses across forty-four categories, including charter revenue. An email with a printable version of the report is sent to the address provided during the specification input.

Although the initial cost of purchasing a yacht can be quite substantial, it is just as important to know what the vessel will cost year to year. Buyers put so much time into working out a purchase price, though often overlook what their annual expenses will be.

In building the programme the company established and incorporated key variables about a yacht, which the program uses to estimate figures. Not all users will have access to the in depth information asked by the calculator, so the program is built with default values based on length of vessel entered.

A Crew Salary calculator and a Yacht/Crew Certification Guide, both designed to provide customised information is also included.

The program can be accessed here . http://www.luxyachts.com/Management/OperatingCostCalculator.aspx

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Thanks for pointing me to this! Allows some insight to a distant watcher.

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How Much Does It Cost to Go on a Superyacht?

Posted June 27, 2022 in Charter by Janine St.Denis

Yacht charters have become popular in recent years because they offer all the same amenities of renting a gorgeous luxury villa without the crowds and impersonal vibe of cruise travel. You have ownership of the yacht for the duration of your trip, which adds a layer of freedom that appeals to adventure seekers around the world. A yacht charter is the ultimate luxury experience. 

Depending on the size, amenities, and condition of the yacht, superyachts can cost anywhere from $4,000 /week to over $2 million /week plus expenses.

In this article, we’ll detail the differences between a yacht and a superyacht and explore how much it is to go on a superyacht . 

What’s the Difference Between Yachts and Superyachts?

Yachts come in several classifications, which means you have a variety to choose from.

What Is a Yacht?

A yacht is a recreational sea vessel used for entertainment, like cruising, water sports, or fishing . At a minimum, a yacht includes sleeping quarters, a kitchen, and a bathroom. There is no set standard definition, but the term applies to a ship with amenities that can accommodate overnight use.

What Is a Superyacht?

Superyachts are the gold standard in luxury yachting. They can accommodate six passengers at a minimum, but often host more than 10 passengers and a robust crew. Many superyachts have a variety of deluxe amenities like: 

• Swimming pools
• Tennis courts
• Outdoor cinemas
• Helicopter pads 

What Is Included in the Price of a Superyacht Charter ?

Superyacht charter prices are typically quoted at weekly rates. This will account for about 60–70% of the total cost. For a superyacht, expect to pay $100,000 or more per week. 

Charter prices include: 

• Yacht rental
• All equipment and amenities 
• Crew salary
• Additional services

The more extravagant your vessel, the more you can expect to pay. 

What Is Not Included in the Price of a Yacht Charter?

Yacht charters are generally “all-inclusive,” but this doesn’t include things like tips and taxes. Here is a list of a few things that are not included when you rent a superyacht: 

• Advance Provisioning Allowance (APA). APA covers provisions while onboard, including any specific requests you may have and several variable costs (including port fees, excursions, etc.). It’s a standard system managed by your captain. The crew uses this allowance to purchase products of your choosing and for taxis, communication fees, port fees, and other expenses that are difficult to budget for ahead of time.
• Taxes and VAT rates. Taxes are not included in superyacht charter prices. You will also be subject to VAT rates when chartering a yacht in Europe. 
• Crew gratuity. Your superyacht will come with an expansive and experienced crew. You’ll want to factor their gratuity into your overall costs. They’re at your service nearly 24/7, so it’s customary to leave them a tip at the end of your charter.

Yacht Charter Costs To Consider

Here are a few other factors that may influence how much your yacht charter is :

• The size of the yacht. You’ll pay a weekly rate of $100,000 or more for a superyacht charter rental. If you want something smaller, the price varies between $20,000 and $80,000. For a megayacht rental (much bigger than a superyacht), you can expect to pay upwards of a million dollars. The larger the yacht, the higher the cost.
• Seasonal influences. Depending on the destination, certain times of year are more expensive than others. For example, the Caribbean costs more during the winter, whereas in the Mediterranean, the summer months are pricier. 
• Exotic destinations. Exotic destinations cost more. The Galápagos Archipelago is a great example. Since yacht fleets are limited there, prices are higher. The Mediterranean is easier to access and thus less expensive.

Book Your Superyacht Charter with Northrop & Johnson Today

There’s nothing quite like sitting on the deck of a superyacht with a glass of bubbly and the sun and sea spray on your skin. It’s an experience you’ll cherish for a lifetime. 

Northrop & Johnson is committed to making your dream superyacht vacation come to life. Our staff will tailor every aspect of your trip to your specific needs and desires. You choose the destination and the menu, and we’ll handle the rest. With Northrop & Johnson, you can handpick your lifeguard, massage therapist, bartender, and more, and we’ll accommodate any cleaning or hygiene requests you may have. 

Contact Northrop & Johnson today to book your superyacht charter vacation . Our experienced team will walk you through the booking process and help you design a personalized yachting experience you’ll love. 

Looking for more than a luxurious vacation? Check out superyachts for sale and say hello to a new, adventurous life!

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‘Four Souls of Coyote’ Review: From Hungary Comes a Soulful Rendering of Native American Origin Stories

Directed by Áron Gauder, the mostly hand-drawn epic is at once solemn and playful in dealing with the world’s creation and modern threats to nature.

By Carlos Aguilar

Carlos Aguilar

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The frame narrative occurs in the present. As an unscrupulous oil company attempts to start a pipeline project before addressing environmental concerns, a group of protesters, Native American and otherwise, tries to stop the groundbreaking. One of them, an elderly Indigenous man, speaks of how in time immemorial, an Old Man Creator (voiced by Lorne Cardinal, an Indigenous Canadian actor) built the world based on dreams, product of “the great mysterious” spirit. From nothingness, water emerges and then a duck who hands the Old Man Creator the material from which he molds the land and then the animals. In the sequence, the character manipulates the frame and its components with an unexpected playfulness.

Popular on Variety

In another dream, the Old Man Creator sees four mischievous coyotes, the embodiment of disobedience and defiance. He condenses them into a single entity, Coyote (Diontae Black doing a humorously wicked voice), granting the trickster four lives to live before banishing it. Motivated by hunger, Coyote creates Man (Danny Kramer) and Woman (Stephanie Novak) from the same material that the elderly wiseman used to form everything else. But the Old Man prevents him from eating and puts him in charge of their well, since they are weaker than the other creatures in the land. Gauder had utilized the figure of Coyote in previous animated short films. Here, his desire to kill (in order to eat flesh) and his vengeful heart (which eventually brings about British colonialism) drive the fable forward. His voracious appetite that compels him to scheme calls to mind Chuck Jones‘ amusingly inept Wile E. Coyote character.

Coyote’s arrogance, his eventual humbling, and ultimately his righteous sacrifice — an arc that places the character somewhere on the spectrum that separates good and evil — act as a reminder that humans’ role in the grand scheme of things is not of larger importance than the other creatures in the predetermined circle of life. There’s a grounding wisdom that comes with appreciating Coyote not as a villain, but a chaotic agent of change.

Halfway through the folk tale, the Old Man Creator holds an assembly where animals big and small, who at first couldn’t reproduce but are now jealous of Man and Woman, demand companionship within their own species. The harmonious relationship presents an idealized vision of how reality should function. Notably, the movie’s soulful score and songs feature Native American music groups Ulali, Northern Cree, and artist Joanne Shenandoah. The multitude of voices raised together with fervor lend a spiritual gravitas to the project.

The film’s origin is admittedly unexpected: a Hungarian production with no obvious ties to its source material. While a version dubbed in Hungarian was that country’s entry for best international feature film at the Oscars last year, one with an English-language voice track is currently showing in the U.S. Gauder has explained that the inspiration came partly from Hungarian singer Tamás Cseh, who took an interest in Native American folktales, translated them into Hungarian and popularized them in the European country. They were published with illustrations done by his son.

With the help of Native American consultants, Gauder and co-writer Géza Bereményi arrived at a middle ground between solemnity and amusement, the latter mostly derived from Coyote’s thwarted antics. Although “Four Souls of Coyote” suffers from the sheer ambitiousness of how much it attempts to cover while its present-day component wraps too neatly for comfort, its handcrafted aesthetic and still-relevant ancestral precepts make for an illuminating experience.

Reviewed online, Aug. 10, 2024. In Annecy Film Festival 2023. Running time: 105 MIN.

• Production: (Animated – Hungary) A Juno Films release of a Cinemon Entertainment production, in association with National Film Institute Hungary. Producer: Réka Temple.
• Crew: Director: Áron Gauder. Screenplay: Áron Gauder, Géza Bereményi. Editors: Hanna Carlson, Krisztián Antók-Matus, Áron Gauder. Animation supervisor: Zsolt Baumgartner.
• With: Lorne Cardial, Diontae Black, Danny Kramer, Stephanie Novak, Priscilla Landham, David Mattle, Lily Rose Silver, Bill Farmer, Cle Bennett, Bob Klein, John Bentley, Fred Tatasicore, Karin Anglin. (English dialogue)

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Super Shoes Aren’t Just for Olympians. But Do Casual Runners Really Need Them?

By Alexander Aciman

Alexander Aciman is an editor who has written about pasta-making, running gear, and Wirecutter picks he has spotted on TV shows.

Carbon plate running shoes—also known as “super shoes”—are giving a boost to runners everywhere, from the starting line at your local 5K to the Boston Marathon. Most notably, you’ll see them on the feet of marathoners competing in Paris at the Summer Olympics.

When Nike released the first carbon plate shoe, the Vaporfly 4% , in 2017, it was arguably the biggest breakthrough in distance-running technology since the waffle racers that helped launch the brand in the 1970s. The Vaporfly, with its high foam stacks and a carbon-fiber plate running through the midsole, promised runners a 4% increase in performance over regular running shoes. With such a bold claim, the shoes just barely skirted a ban at the 2020 Tokyo Olympics.

Now, thanks to super shoes’ lightweight build and bouncy soles, every major shoe company is making its own version. And for roughly $250 (about $100 more than our running-shoe picks , on average), you can snag a pair too. But what are they, and do you need them?

What are super shoes?

“Since the ’70s, running shoes have been made from EVA,” Daniel E. Lieberman, a professor of biological sciences at Harvard University and a longtime marathoner, told me in a phone interview. (EVA, short for ethylene-vinyl acetate, is that familiar, cushy foam that makes up the midsole in most running shoes.)

By contrast, super shoes—with futuristic profiles and neon uppers worthy of Marty McFly—often include PEBA (polyether block amide) foam, a bouncier, lighter foam with a better energy return. Thanks to the springiness of this foam, shoes with PEBA foam blends can sometimes feel like they’re propelling you forward. “Every time you hit the ground, you lose energy,” Lieberman explained. “The foam in these shoes has a bit of a spring, it stores up energy and helps push you back in the air.”

A carbon-fiber plate runs through the middle of the shoe’s sole, and, according to Lieberman, what it does is still a bit of a mystery. A common misconception is that the plate itself acts as a spring. Lieberman believes that the plate is mainly there to add stability to the jiggly PEBA foam and to give runners a rigid surface to push off of.

In theory, the springy foam, featherweight construction, and firm carbon-fiber midsole make your movements less energetically expensive and make it easier to run faster over longer distances.

But can they actually make you faster?

Carbon plate shoes have helped propel professional athletes to record times . Elite runner Eliud Kipchoge was wearing super shoes when he broke the once-mythical barrier of the two-hour marathon. But what about everyday runners?

Over the course of roughly a month, we had runners of varying levels on our staff swap out their regular running shoes for super shoes. We asked testers to take their super shoes on runs that were longer than 3 miles, in outdoor road-running conditions that would mimic the way these shoes are used by elite racers in urban marathons. We didn’t test them on treadmills, which run at preset paces and would therefore skew results.

We had testers try one of six different carbon plate shoes, which we requested for testing from several companies : Nike Vaporfly 3 , Adidas Adizero Adios Pro 3 , Saucony Endorphin Pro 4 , Altra Vanish Carbon 2 , On Cloudboom Echo 3 , and New Balance FuelCell SuperComp Elite v4 . We chose the flagship styles from leading running-shoe brands, along with a few more-unique models, like Altra’s low-drop shoes, and we prioritized styles that were reliably in stock and readily available. Our goal was not to figure out which super shoe model was the “best” but instead to get first impressions on the shoes from regular runners.

As to whether these shoes worked for the runners at Wirecutter, the answer was a resounding “sort of.”

Even among professional runners, attributing an increase or a decrease in performance to a single variable is incredibly difficult. Day-to-day results can be influenced by any number of things, including sleep, mood, weather, and diet, not to mention the psychological boost you might experience during the honeymoon phase of running in a new pair of shoes.

That said, although one tester saw no overall benefits while wearing super shoes during runs averaging 6 miles, and another saw only a moderate increase in performance while running quarter-mile intervals, most of our runners said they felt faster running in them. Several said they felt more zip in each stride and had a stronger push off the ground beneath them.

Julia Bush, Wirecutter’s deputy director of social and community, tested the Adidas Adizero Adios Pro 3 ($250) and clocked remarkably faster mile times. She went from a 9:40 mile pace in regular trainers to an 8:57 mile pace when running in super shoes. “I felt like I was running on springs,” Julia said, emphasizing just how fun they were to run in. “I was running more than I usually would the past few weeks largely because of testing, but also because they’re just novel and goofy and fun to wear.”

Julia said she suspects that part of her performance can be attributed to a placebo effect. Even if that’s all the Adidas super shoes offered, dropping a whopping 43 seconds from her mile pace still speaks to the psychological boost specialized shoes can offer.

Ben Frumin, Wirecutter’s editor-in-chief, tested the Nike Vaporfly 3 ($260 to $275), and he said he felt like he was “flying” during a 4-mile jog. His average mile pace fell below 8 minutes almost by accident. “I wasn’t even trying to run that fast,” he said. “The shoes made it feel easy.” He also ran 800-meter splits and shed more than 10 seconds in some cases. “I can’t remember the last time I ran 800 meters in 2:56,” he adds. “It’s been many years.”

Supervising editor Ingrid Skjong (who is also a certified personal trainer) ran in the Altra Vanish 2 ($260), a low-drop model, and she noted how much easier it was to run fast in them. “They take out a chunk of the effort normally focused on turnover—my feet just flew and they make for a loose, fun feel on the run,” she said.

I tested the Saucony Endorphin Pro 4 ($225). Thanks to their wider platform, I found they offered a little more stability than other super shoes I’ve tried on, including the Vaporflys. (I tend to run in stability shoes because I have low arches and overpronate.) I’ve been running for 20 years and have tested countless types of shoes, from race flats to plush rockers, and super shoes are unlike any I’ve run in. The soles are roughly three times thicker than the cross-country spikes I used for races in high school, and I could feel myself physically bouncing forward with every stride. I breezed through the early miles of longer, 6- to 8-mile runs, during which I can often feel sluggish as I try to find my stride. And 5K runs felt notably shorter.

When I first put them on and paced around my apartment, I could feel a springy, trampoline-like bounce beneath my feet even in just a few steps. To get a sense of just how bouncy they were, I did a drop test. My regular trainers landed with a thud, but the super shoes bounced and skipped just slightly, almost like a rubber ball.

While running, I found myself teetering from tempo pace into race pace without even trying. Running in them was invigorating, and the propulsion underfoot left me with (probably misguided) hopes of breaking my old personal records.

Okay, but what about all the controversy?

When I was running in the Saucony super shoes, I felt unsure as to whether it would even be fair to race against people who were not wearing super shoes. (This, in part, is the reason they’ve become so ubiquitous among professional athletes.)

Some people, including Lieberman, believe super shoes are somewhat dishonest, while others go as far as to call them technology doping. “On the one hand, tennis players have rackets that let them hit harder. Why should running be different?” Lieberman said. “But when Roger Bannister broke the 4-minute mile, he did it with his friends on his lunch break … it was about the power of one man’s training and spirit.”

But it’s also the case that Roger Bannister was indeed running in some of the lightest shoes available when he broke the world record in 1954, and this is arguably no different than today’s marathoners wearing lightweight carbon plate shoes.

If you’re trying to decide whether or not to buy a pair of super shoes yourself, though, keep in mind that the shoes might not be making you faster. Rather, they might merely be giving you greater access to the abilities you already have. The biggest benefit of super shoes might be that they make running fast a bit easier.

Like Ben, you might need to temper your expectations. “I had imagined the shoes turning me into Dash from The Incredibles ,” he explained. “That didn’t happen. I was still a moderately in shape middle-aged man. But a slightly faster, moderately in shape middle-aged man!”

Do you need a pair of super shoes?

If you’re looking to give your runs a boost, there are a few things to keep in mind before buying a pair of carbon plate running shoes.

According to Matthew Klein, a professor of physical therapy at West Coast University’s Center for Graduate Studies and the founder of Doctors of Running , super shoes are best reserved for runs when you’re pushing yourself.

The body moves very differently when you’re running hard versus doing a light jog, and super shoes are intended for the former. “Super shoes are designed for faster efforts,” Klein told me in a phone interview. “From a biomechanical perspective of how you load a shoe when running, and how the foam plate geometry works, they’re not meant for easy paces,” he explained. “It’s like using a sports car to get groceries.”

But this isn’t to say you can’t benefit from them unless you run at a certain pace or are a professional runner. Klein said relative speed is more important when you’re determining whether a super shoe is appropriate, and it’s less important to compare your mile time to that of other runners than it is to know whether or not you’ll be running hard (whatever that means for you) on a particular day.

According to Klein, there’s also some evidence that the benefits of a super shoe might “taper off” the more consistently you run in them and the more your body adapts to them; this is another reason to avoid making them your daily drivers. “It’s better to use them strategically, to get your body used to them, or for race efforts,” Klein said. “A tried and true daily trainer is something you can trust for easier efforts.”

Super shoes may also come with a risk of injury (and they definitely take some getting used to). The high, soft foam stacks can be a little unstable. They make phenomenally bad walking shoes. “Walking in them was comical,” said Julia, who tested the Adidas shoes. “I went to the grocery store after a run once and teeter-tottered all the way home with my bags, a little worried I’d step on them wrong and eat it on the street.”

Ingrid, who ran in the Altras, echoed a similar sentiment. “When I first put them on, I thought I’d keel over forward, so pronounced was the propulsion in relation to my regular trainer,” she explained.

Almost all of our testers experienced some calf soreness or tightness after particularly hard runs. According to both Lieberman and Klein, this may be because super shoes, by design, change the way muscles and joints in your body go through a range of motion, and the ways in which they’re loaded. Anybody with a history of calf pathologies should speak with a doctor before trying super shoes.

In some cases, the propulsion of the shoes came at the cost of runners losing control of their mechanics. “I took off like a shot,” Ingrid said. “But [I] had to check in with my form and make sure I was staying in control of my stride because they are wildly more energetic than my daily running shoes.”

Both Ingrid and Ben voiced concern over the potential for injury while wearing these shoes. “It was almost like the shoes put me a little out of whack and made my legs go faster than my hips were capable of handling,” Ben said.

As a result of this instability, Klein said he would probably discourage people with hip pathologies from running in these shoes. And it’s always good to speak with a doctor before trying dramatically different equipment.

Among amateur runners, perhaps the biggest criticism of super shoes is the cost. Some carbon plate shoes can run up to $300, putting them out of reach for many runners. And just because everyone in your run club has them, it doesn’t mean they’re being used appropriately or that you can’t be a serious runner without them (see Roger Bannister’s aforementioned shoes). If you can afford them, and you want to crush your high school 5K time (as I do), then they might be worth considering.

Super shoes are fun to run in and fun to wear, and they’ve generated a lot of interest in the sport. But for amateur runners, unless you have your heart set on a goal that you haven’t been able to crack while wearing your regular race shoes, you shouldn’t necessarily feel compelled to spend hundreds of dollars on a pair of super shoes. “I ran Boston a few weeks ago,” Lieberman said, having just completed another marathon. “If I went 4% faster, it would have no effect on my life.”

This article was edited by Megan Beauchamp and Catherine Kast.

Meet your guide

Alexander Aciman

Alexander Aciman is an editor for Wirecutter’s discovery team. He has worked as a journalist and on documentary film projects, and he has also worked as a screenwriter for Amazon and Lionsgate. When he’s not working, you can probably find him bird watching, running, or making pasta.