What Does It Take To Own A Yacht?

Owning a luxury yacht can be a significant financial investment, but it can also be a more affordable option for those with higher-than-average incomes. The average cost of new yachts is around 2-3 crores (₹20-30 million), depending on factors such as the yacht’s brand, age, and condition. Maintenance costs, exploitation costs, and total cost are also important considerations.

A captain’s license is required to drive a yacht, and other expenses like insurance, maintenance, and upkeep of the navigation outfit must be considered. The operating cost calculator is tuned for yachts from 80 to 600 feet, with operating variables creating the largest variances for yachts smaller than 100 feet and larger than 250 feet.

The average cost of owning a new 30-foot sailing yacht can range from 50,000 to 200,000 or more. Major costs include yacht crew, dockage, fuel, and maintenance. Owners can expect to spend about 10-15% of the purchase price annually on operating and maintaining a yacht. A rule of thumb is 50 a foot a month for maintenance, which includes insurance, dock fees, fuel, actual maintenance, and a haulout.

Owning a yacht involves both initial costs and ongoing expenses. The initial purchase cost can take anywhere from a few days to a few years, depending on what you are looking for and how ready you are to make the purchase. The Royal Yachting Association (RYA) strongly advises having your boat surveyed, whether buying privately or through a yacht broker.

To become a yacht owner, follow these steps: 1) Clarify your purpose, 2) Know your affordability, and 3) Understand the cost of ownership. For example, a 60-foot, 1 million yacht will cost about 10% of its value, or 100,000 per year if it’s over ten years old.