Bigger yachts with modern amenities and comforts cost more than smaller yachts with standard fixtures. But we are just talking about the initial cost here. The annual operating cost is a whole other consideration to take into account. How much does a yacht cost to own?
An average-sized yacht costs approximately $8.4 million to buy. The annual cost of owning a yacht is a different matter. To maintain a 60-foot yacht, you would be spending about $100,000 per year.
To know how much it will cost to own a particular type of yacht, you have to select the specific size, brand, amenities, age of the yacht, and dock area to determine its exact cost.
Read on to learn more about how much it costs to own a yacht, including the upfront purchase cost and the annual operating cost.
How Much Does a Yacht Cost to Own?
An average-sized yacht costs about $8.4 million to buy. A 60-foot yacht costs about $100,000 per year to maintain.
The purchase price of a yacht is just its initial cost. When asking how much a yacht is, you also have to consider the expenses of owning one.
These expenses will include dockage fees, the salary of a captain and/or crew, regular maintenance, occasional repairs, and other sundry things that may crop up from time to time. Let us discuss these costs one by one.
1) Marina Berthing Cost
If you intend to keep the boat in your water home front, you will save a lot compared to paying a monthly regular dockage fee in a marina. Barring this condition, you have to factor in the cost of storing your yacht at a marina.
The cost of yacht berthing at a marina depends on the location, services, and amenities offered there. But essentially, you will be charged per foot. These charges also vary depending on the place. For example, in Florida, the docking costs in the Martin County marinas can be half the berthing costs of marinas in Miami-Dade.
To give you ideas of the cost of dockage in a marina, here are two sample marinas in Florida:
1. Sailfish Marina
Sailfish Marina is a popular marina located in Martin County because it is nearest to the St. Lucie Inlet. It can accommodate yachts from 60 feet and up. If you buy an annual contract for a slip, it will cost you $18 to $20 per foot every month.
If you want to use some of their utilities, such as water, electricity, and waste removal, you will have to add $110 to $310 to your berthing cost. And if you add the docking fee plus services, your monthly expenses will be from $128 to $330 per foot every month. Annually, that would range from $92,160 to $237,600. Your monthly expenses will range from $7,716.00 to $19,800.
Additionally, your boat’s overall length and not its stated length on the brochure will be used to compute your annual docking fee.
2. Palm Harbor Marina
This marina is located in Palm Beach County. There are more than 200 slips in this marina. It can accommodate superyachts of around 250 feet in length. This marina has the latest Marinetek concrete floating docks.
Docking a 60-foot yacht in this marina will cost approximately $2,650 a month or about $44 per foot. It is more expensive here because of its state-of-the-art facilities. Your annual berthing fees will be $318,000.
It also costs more because this marina has a yacht club, featuring a complete fitness center, media center, hospitality bar, concierge, game room, and deli. This marina is at the center of nightlife and near the best restaurants in Palm Beach.
2) Maintenance Cost
How much does it cost to maintain a small yacht? Your yacht will efficiently perform if you have regular preventive maintenance. If you just let it rest in the marina and only occasionally look into its needs, the sea’s destructive elements will weaken your boat and make it unable to sail.
For your 60-footer yacht with average usage, you can expect to spend around $30,000 a year in maintenance costs. Average usage means from 150 to 200 hours of sailing or cruising. This cost only refers to the regular maintenance works that should be done to the yacht so that it will always be in ship shape.
This does not take into account incidents where a part breaks down and needs to be replaced. The usual maintenance work involves regular inspection of the underwater parts of the boat, which costs around $3 per foot.
Regular washing is essential as well. It will cost you another $3 per foot. Periodical full systems check is also required, which can cost about $1,000 every time it is done. As usual, these costs can vary, depending on the boat and the location of the marina.
Yacht builders advise boat owners to hire yacht management companies to take care of their boats. Some of these companies can supervise the upkeep of up to 50 boats at any given time. They will take the heavy load of preventive maintenance off your shoulders.
If you have a yacht manager, he will ensure that your boat is always in tip-top condition. He will make sure that all systems, motors, generators, electrical wirings, plumbing, and fixtures work effectively. This preventive maintenance strategy will save you thousands of dollars in repair and downtime costs.
3) Fuel Costs
Your fuel consumption mainly depends on your boating style. Limiting your boat’s speed from 8 to 10 knots will give you better fuel efficiency and longer cruising times.
For a 60-foot yacht with a 1,200-gallon tank and about $3.50 average fuel price, every full tank will cost you around $4,200. Your annual fuel costs will also depend on how many times you are using your yacht, how long your average trip is, and the price of fuel at the gas outlet.
4) Insurance Costs
Insuring your yacht is also very important. You need to protect your investment. Don’t drive your boat without insurance because even if you practice extreme caution, unforeseen events can happen. Insurance is your protective umbrella for things that you can’t see in the future.
Insurance fees would range from $6,000 to $8,000 per annum using the 60-foot yacht as the basis. This is the cost range in the Northeast. But if your boat is berthed in Florida, the insurance fees will range from $10,000 to $12,000. However, if you intend to charter your boat, your insurance costs will increase to $14,000 per annum.
5) Winter Storage
Protecting your boat during the winter, if your boat is berthed in the eastern parts, is also very important if you want to extend its service life. Winter storage may include hauling, dry-docking, shrink wrapping, and blocking to prevent it from moving. The average cost for all these procedures for a 38-foot yacht is about $3,800 if the berth is located in Connecticut. You’ll spend around $1,500 if the marina is located in Maine.
We’ve answered the question, “what is the average cost of a yacht?”; Next, let’s look at the estimated cost for different sizes of yachts.
How Much Does a Small Yacht Cost? 30 Feet Long
How much does a small yacht cost? The price of a yacht below 30 feet in length ranges from $35,000 to $65,000. Once a yacht goes over 30 feet, the price almost doubles. The price range for yachts ranging from 31 to 35 feet is $75,000 to $150,000.
Here are some sample yachts listed for sale online:
- Sportcraft Model 3010 Express – 31 feet overall length, priced at $43,500.
- 2000 Sleekcraft Model 30’ Heritage – 30 feet overall length with the price of $39,495.
How Much Does a 40 Foot Yacht Cost to Own?
How much is a small yacht of about 40 feet in length? Once the length of a yacht exceeds 35 feet, its price considerably increases. The price range of yachts measuring from 36 to 40 feet is from $125,000 to $225,000. Slightly bigger yachts ranging from 41 to 45 feet can cost from $325,000 to 475,000.
Here are some of the yachts within this range that are selling online:
- The Atlantis – 40 feet overall length and priced at $297,500. It has a cruising speed of 34 knots and a maximum speed of 38 knots, with two staterooms and two heads.
- Carver 396 Motor Yacht – 40 feet overall length and priced at $200,000. It has a full enclosure boat that can accommodate six people. Its cruising speed is 18 to 20 knots.
How Much Does a 50 Foot Yacht Cost to Own?
How much is a yacht of 50 feet in length? Yachts reaching the length of 46 to 50 feet have a price range that starts from $375,000 to $625,000. Here are some samples of these kinds of yachts being sold online:
- Jeanneau Sun Odyssey 50 DS – 50 feet OAL, cruiser type, with one diesel engine and an asking price of $289,000.
- Beneteau Cyclades Four Cabin – 50 feet OAL, cruiser type, with one diesel engine and an asking price of $179,000.
How Much Does a 60 Foot Yacht Cost to Own?
How much is a yacht that is 60 feet in length? For yachts that are between 50 and 60 feet, their prices range from $1,300,000 to $3,000,000. Those that are between 60 and 70 feet may range from $1.5M to $3M. Here is an example of this kind of yacht:
- 2020 Cruiser Yachts 60 Cantius – With OAL of 60 feet, three staterooms, retractable sunroof, and other luxurious amenities. The price is $2,539,389.
How Much Does an 80 Foot Yacht Cost to Own?
The price range of yachts measuring 70 to 80 feet long is from $2.5M to $4M. For those with lengths between 80 and 90 feet, their price ranges from $3.5M to $8M. An example of a yacht within this range that’s for sale online is the 2015 Azimut 80.
- 2015 Azimut 80 – Has an overall length of 83 feet with four cabins, four heads, double VIP forward, double guest cabin, and an owner’s full-beam cabin at the center of the yacht. The price of this luxurious yacht is $3,350,000.
How Much Does a 100 Foot Yacht Cost to Own?
How much is a 100 foot yacht? Yachts with lengths ranging from 90 to 100 feet are already considered superyachts. They have prices that range from $3.5M to $8M. Here are some samples of these yachts for sale online:
- Azimuth – 100 feet overall length, has a large saloon with a separate dining area, large galley, large center master cabin with en-suite head and dressing, and many more comfort luxuries. The price is $1,300,000.
- Sanlorenzo – 100 feet overall length, with four cabins and en suite facilities, three crew cabins, five heads, and many comfortable amenities. The price is $1,725,088.
How Much Does a 150 Foot Yacht Cost to Own?
Superyachts are also called megayachts. They range from 100 to 200 feet long. The price range of these super expensive yachts ranges from $10M to $25M.
A fantastic example of this kind of yacht is the NADAN. It is for sale at around $28,200,000. This small ship has a classic yacht design with room for nine guests, four staterooms with one Pullman berth, a sky lounge, and many more luxurious amenities.
How Much Does a 180 Foot Yacht Cost to Own?
A 180-foot yacht is already a small ship with a price between $10M to $25M. An example of this huge yacht is the 180-footer Newcastle 2011 Sovereign. It is now on sale for $23,950,000.
This yacht has a cruising speed of 12 knots and a maximum speed of 14 knots. It has six big staterooms with two true masters, huge exterior deck space, high ceilings, and many more amazing amenities.
How Much Does a 200 Foot Yacht Cost to Own?
Yachts measuring 200 feet or more are really huge megayachts. Their prices can range from $18M to $250M. One example of this kind of yacht is the Formosa, with a price of approximately $40,628,000.
Its total length is 196 feet and 10 inches with a private owner’s deck, two VIP suites, two double guest suites, and one double cabin. This megayacht can accommodate 13 guests in its luxurious decks.
Conclusion – How Much Is a Yacht?
Russian businessman, Roman Abramovich, paid an estimated €340 million (about $400 million) for his 533-foot super-yacht, the Eclipse. The annual operating cost of the Eclipse is about $60 million. This is at the extreme upper end of the cost of a yacht. But what about the average cost? How much does a yacht cost to own on average?
Based on current sales data, on average, a typical yacht would cost approximately $8.4 million. The cost of owning a yacht is another matter. To maintain a 60-foot yacht that costs $1 million, you would be spending $100,000 per year.
If you want to determine how much you’ll have to spend to own a particular type of yacht, you have to select the specific size, brand, amenities, age of the yacht, and docking area to determine its exact cost of ownership.