How Long Do People Own Yachts?

Owning a yacht offers a world of unforgettable adventures and luxury, allowing owners to traverse open waters with comfort and luxury. Operating costs for yachts, including fuel, crew, and other expenses, can be around 10% to 20% of the yacht’s value each year. The average age of a boat owner is around 55 years old, but boating is enjoyed by people of all ages. Chartering allows you to sample yachts of different sizes from different builders with a low upfront cash commitment and explore different charter regions throughout the year. Luxury ships attract outrage and political scrutiny, but the ultra-rich are buying them in record numbers.

James Frami, who has been sailing for almost 30 years, built his first boat at the age of 15. Tara Getty bought the classic yacht Blue Bird with the goal of an epic round-the-world adventure. Fiberglass yachts typically last 30 to 50 years, or more, while aluminum and steel yachts can last 30 to 50 years or more. Owners are most likely to spend between two and three months on board, particularly on boats between 50m and 60m.

Finding the right captain is often as hard as finding the right boat. The actual usable life may be up to 30 years if the yacht is well looked after. For financial reference, you will need to look in magazines and on cruisers who have spent between eight and 40-plus years cruising and living aboard. A yacht length from 30 feet to almost 150 feet long is considered standard.

The expectations of yacht owners have also changed as they are more aware of the benefits of owning a yacht.