Chartering a yacht is a great way to vacation. It is much more affordable than buying and regularly maintaining a yacht. How much does it cost to charter a yacht?
The cost of chartering a yacht for a week ranges between US$10,000 and US$500,000.
Chartering a sailing yacht under 80 feet will roughly cost you US$10,000 to US$20,000. Chartering a sailing yacht over 150 feet will cost you about US$200,000.
For motor yachts, those under 80 feet will cost approximately US$20,000, and those over 150 feet will roughly cost about US$500,000.
Read on to learn more about how much it would cost to charter a yacht, including how prices are structured, factors affecting the rate, and the different types of yachts you can charter.
How Much Does It Cost to Charter a Yacht?
The price for chartering a yacht for a week may be as low as US$10,000 or as high as US$500,000. Chartering a sailing yacht under 80 feet will cost you US$10,000 to US$20,000, but a sailing yacht over 150 feet will cost you about US$200,000.
A motor yacht under 80 feet will approximately cost you US$20,000, while the one over 150 feet will roughly cost US$500,000.
Here’s a quick overview of the estimated cost to charter a sailing yacht, a catamaran, or a motor yacht:
If you’re interested in chartering a yacht, it’s important to know that it has two types of price structure. One is the All-Inclusive Yacht Charters, and the other one is the Plus Expenses Charters:
1. All-Inclusive Yacht Charters
As the term suggests, charters under this price structure offer all-inclusive rates. In most cases, this is offered by monohull and catamaran charters located in the Virgin Islands.
Under this price structure, the fixed rate includes the following:
- Water Toys
It usually does not include the following:
- Diving Activities
- Transport Airport/Boat
- Crew gratuity.
However, some charters also include diving activities and taxes in their package.
2. Plus Expenses Charters
Under this price structure, the base price solely includes the yacht, crew, water toys, and nothing else. Other expenses are all charged separately. Among these are the following:
- Diving Activities
- Transport Airport/Boat
- Crew gratuity.
In most cases, these additional expenses are paid using the Advanced Provisioning Allowance (APA). Typically, it is 25-35 % of the base price and paid before the charter.
If you plan to charter a yacht, you better know how much is a yacht charter, the factors that affect this price, and the types of yacht you can charter. Next, let’s discuss the base prices for chartering a yacht.
Base Prices for Chartering a Yacht
When chartering a yacht for a week, the base price normally ranges between US$10,000 and US$500,000. Rates differ not only based on the weight of the yacht.
But they also differ based on the type of yacht. Chartering a small sailing yacht may cost you US$10,000, while a large motor yacht may cost you US$500,000.
The table below will give you a clearer idea of the estimated cost of chartering yachts:
How much to charter a yacht for a day? Based on the above numbers, it will cost about $1,500 to $71,000 per day to charter a yacht. The price will vary depending on the type and size of yacht you choose.
Factors Affecting Yacht Charter Prices
In most cases, if not all, charter yachts are privately owned. Thus, rates are solely set by the owner. In part, this is the reason behind price differences between boats of a similar kind.
However, other factors crucially affect how much to charter a yacht. These include the following:
The yacht itself is a factor for computing charter rates, and this consists of subfactors which include the following:
- Boat Manufacturer;
- Year the Boat Was Built;
- Previous Owners, if any; and
- Selection of Water Toys.
These subfactors are significant in building the reputation of charter yachts. It then follows that when a yacht has an excellent reputation, chartering it will most likely be costly.
There is what we call peak and off-peak seasons. Others call it high and low seasons. The off-peak season is sometimes called a lean season. Whichever way it is called, rates differ in each season.
Typically, during high or peak season, charter rates are also higher. This is the season when most people go out for a short vacation, mainly because the weather is ideal for yachting. A perfect season could mean summer in the Mediterranean or winter season in the Caribbean.
During off-peak, lean, or low season, charter rates are lower. Logically, since there is low demand, yacht owners entice guests by offering low charter rates.
Another factor is a charter destination, and it greatly impacts your charter cost. For instance, charter costs are more competitive in the Mediterranean, the British Virgin Island, and the Bahamas than other locations. This is mainly because there are many charter yachts in this area.
Therefore, the demand is high, and it isn’t easy to make the prices way higher than the rest.
In other areas where there are no large charter fleets, charter rates may be more costly.
How much does it cost to charter a yacht? Chartering a yacht over a week will cost you roughly US$10,000 and US$500,000. This cost will also depend on the size of the yacht you’ll charter.
A sailing yacht under 80 feet will cost you US$20,000, while a sailing yacht over 150 feet will cost you about US$200,000. A small motor yacht costs approximately US$20,000, and the one over 150 feet is about US$500,000.
Next, let’s tackle the additional expenses you should expect when you charter a yacht.
Additional Expense Considerations for Chartering a Yacht
Let’s talk about the other important expenses that you must also take into consideration:
1. Advanced Provisioning Allowance (APA)
The APA is equivalent to 25-35% of the yacht’s base price. This fee is typically collected before you rent the yacht. The captain also accesses it as an expense account during the charter.
The complete list of expenses is then presented to you by the end of your stay, and the unused APA funds are also given back to you in cash.
Don’t be surprised if your expenses exceed the funds under your APA account during your charter because it does happen — especially when you are having fun, right? In which case, you will then be required to replenish your APA account.
2. Taxes/Value Added Tax (VAT)
Whether you have chosen an All-Inclusive Charter package or a Plus Expenses Charter package, taxes and VAT are charged separately in most cases, if not all.
The amount of taxes to be paid vary, depending on your charter destination. To give you an idea, here’s a list of some of the most popular destinations and their corresponding tax rates:
- The Bahamas charges 4% tax;
- British Virgin Island charges tax based on the boat’s flag. Amount ranges between US$6 and US$16 per person daily;
- Croatia charges 13% VAT;
- Florida charges tax amounting to 7% for Miami-Dade County and 6% for Broward County;
- France typically charges 20% VAT. But it can charge an additional 10% if the itinerary includes international waters;
- Greece charges 12% VAT;
- Italy charges 22% VAT. But if the itinerary includes international waters, an additional cost ranging between 6 and 9% will be charged;
- Spain charges 21% VAT;
- Montenegro does not charge any VAT;
- New England does not charge any tax; and
- Turkey charges no VAT as well.
Charterers may avail of cancellation and curtailment insurance, which is the same as the traveler’s insurance. This will help the charterer cover expenses should the guest cancel at the last minute or decide to shorten the charter period.
There are professional charter brokers that can assist in weighing insurance options.
4. Crew Gratuity
Crew gratuity may not be obligatory. Nonetheless, it is recommended especially if you were genuinely given excellent customer service and an ultimate charter experience.
In most cases, crew gratuity amounts to 15-20 % of the base charter rate. It is typically handed to the captain by the end of your stay.
5. Delivery Fees
These fees typically don’t apply to most charters. However, it’s also good to anticipate that you might be required to pay delivery fees if you’re not chartering in the normal cruising ground of the yacht.
Types of Charter Yachts
Renting a yacht will cost you a huge amount of money. Therefore, you must be able to plan it well. And one of the most important things to do is to choose the ideal yacht for you.
To help you decide, here are several types of charter yachts:
1. Sailing Yachts
A sailing yacht can truly provide you an idyllic experience and guarantee a serene journey. This type of charter yacht will propel you through the waters using traditional wind power. The sound of the winds will definitely allow you to experience a relaxed trip.
The trip is slow-paced as the sailing yacht does not have the same speed as the motor yacht. Perhaps, this is not the ideal yacht for impatient guests. But instead, it is ideal for those who would like to maximize the yacht’s amenities, which are more or less similar to their motor yacht counterparts.
In most cases, this is chartered by couples as it is ideal for a romantic getaway.
2. Catamaran Yachts
A Catamaran yacht features two hulls. It is generally more spacious than a monohull or a motorboat of similar size. Renters of this yacht love the extra space which may be used for sunbathing. A large sundeck may also feature trampolines and other equipment that guests can enjoy.
Catamarans are ideal for entering shallower waters as this type of yacht offers stability. If your vacation plan includes getting close to the coves and islands, this is indeed the yacht to charter.
Like a sailing yacht, this is also slower than a motor yacht. But that only means you don’t have to spend too much on fuel costs and can allot more budget for other fun activities.
3. Motor Yachts
Generally, those who have not tried chartering a yacht always envision being on a motor yacht. Suffice it to say that it is the most popular yacht to charter and the most abundant one. Among all types of charter yachts, this one has the widest selection.
If you are renting a yacht for a corporate event, a birthday party, or any other large gathering, a motorboat is the ideal one for you. It is larger than a sailing yacht; it has advanced sound systems and other modern amenities.
In most cases, they are equipped with such water toys as paddleboards, inflatables, and jet skis. They can reach high speeds, making your yachting experience even more exciting. Needless to say that a motor yacht is perfect for both kids and adults.
Perhaps, the downside is the fuel cost as a motor yacht requires more fuel than other types of charter yachts. The fuel surcharge will most likely make it more costly for you.
But if you are composed of a large group, and everybody will contribute to the expenses, this should not be a problem. Besides, it will surely be all worth it.
Conclusion – How Much to Charter a Yacht?
Chartering a yacht for a week will most likely cost you between US$10,000 and US$500,000. To give you an idea, a sailing yacht under 80 feet will roughly cost you US$20,000, while a sailing yacht over 150 feet will cost you about US$200,000.
A small motor yacht will cost approximately US$20,000, and the one over 150 feet will roughly cost US$500,000.
Since renting a yacht doesn’t come cheap, you have to ensure that everything will be well planned. Whether you are availing of an all-inclusive package or not, ensure that you maximize what you pay for and get real value for your money.
Choose the right type of charter yacht. It can be a sailing yacht, a catamaran, or a motor yacht. Choose the ideal food and drinks to consume. List down all the water activities you can do.
Most importantly, allot a considerable amount of budget if you aim for the ultimate yachting experience of your life.