If you’ve ever wondered what it’s like to own a yacht, you’re not alone. When you think about traveling by yacht on the high seas, you probably envision absolute luxury, wealth, and freedom… and you’d be right. A luxury yacht can be fully equipped with a top-of-the-line kitchen, multiple cabins, a swimming pool, a helicopter landing pad, or even a waterfall. Essentially, a yacht can be your second home.
While enjoying the unbridled extravagance of owning your own yacht may be prohibitively expensive, there is a way you can experience this luxury lifestyle.
The company 12knots charters or rents yachts so you can get a taste of this lavish experience without spending millions of dollars.
If you’re considering chartering a yacht for a unique vacation or special event, here are a few costs to consider.
Price Range
If you have a flexible budget, you may not have to limit yourself in terms of yacht size and trip duration. If you have a tight budget, however, you’ll need to calculate how much you need to spend and consider any additional costs.
Things like the price of fuel and whether you intend to hire a crew for your chartered yacht will incur additional costs, so you need to determine your budget beforehand to avoid breaking the bank.
The price of your charter will also depend on the trip’s duration, the yacht’s size, and your destination. Smaller yachts and catamarans can start at around $10,000, while larger boats can be in the $50,000 to $80,000 price range. Chartering a superyacht (over 100 ft) or megayacht (over 200 ft) for a week-long vacation can easily cost $150,000 and up.
Generally, tax and value-added-tax (VAT) are not included in a rental’s base price. So, another thing to note is that tax or VAT may incur additional charges depending on where you are traveling from and where you’re going.
Expense-Based or Inclusive Charters
Yacht charters usually fall into two categories: expense-based or inclusive. Inclusive yacht charters are similar to inclusive vacations at resorts and include crew members, meals and beverages, amenities, and excursions. While these tend to be more expensive, inclusive charters make it easier to determine the price for each person and figure out your budget beforehand.
Expense-based charters begin at a base rate. Any extras – fuel, docking fees, and hiring a captain and crew – will be additional expenses and can vary from company to company. Usually, minimum additional costs are estimated in advance by an Advance Provisioning Planning Allowance (APA) and calculated at 35% of the total cost of the yacht. This amount is paid up front, and any additional charges are due once the yacht has completed its trip.
Destinations and Trip Duration
In addition to the base price of renting a private yacht, fuel costs also need to be considered. This means that how far you want to travel via yacht will significantly influence the total cost.
Suppose you want to travel to multiple destinations. In that case, you may end up paying significantly more than you would if you booked a basic fishing trip. Budget planning becomes easier when you know which destinations you want to visit because you can calculate your extra fuel costs in advance.
Boat Size
It pays to remember that a bigger yacht isn’t necessarily better. Although chartering a large yacht may seem like the way to go, chartering a yacht that’s too large for your needs can end up wasting a lot of money and space.
While megayachts are the pinnacle of luxury, they come with much higher rates and fuel costs. Instead of breaking the bank on a megayacht, consider chartering a smaller boat and spending more on the right crew and your luxury experience.
Investing in a gourmet chef and an experienced captain can make all the difference to your experience. So, focus on comfort instead of spending more money on a larger yacht. Generally, 100 ft to 120 ft yachts are appropriate for family vacations. If you’re planning a larger event like a reunion or wedding, consider upsizing your yacht.