There are few things that can rival the luxury of yacht travel. You will find endless exploration opportunities in luxurious settings as the wind blows through you hair. This is especially appealing after a year indoors. Private yacht charters could provide adventurers with a safe haven from the crowds as we recover from the pandemic. A common question among novice charterers, however, is “How much does it really cost to charter yacht?”
Elite Traveler answers this question and more. For Yacht Rental Turkey we have compiled a list of the main costs anyone looking to charter a yacht for their first time should consider.
What does my yacht charter cost?
The most important thing to remember is that there are two types of yacht charters. There’s an all-inclusive charter, and a more common ‘plus costs’ charter. The cost of an all inclusive yacht charter will cover (almost) all the costs such as crew, food and fuel. But, it is important to check that this does not vary among charter companies. However, not all charters include dockage fees or mooring fees. These can quickly add up and could be costly.
A ‘plus expense’ charter (or ‘separated charge’ charter) is one where a price is charged for the ship, crew and equipment. Everything else is paid through an APA before you board. Prior to embarking on a voyage, guests are required to fill out a preference sheet listing their favorite foods and preferences. The chef and staff can then stock up on these items. This is the standard procedure for superyacht charters. It allows for a more personal experience.
An APA will not only cover food and beverages but also fuel and possible dockage. It usually costs 30% of the base yacht rate. Northrop and Johnson, luxury yacht brokers, reported that customers paid an average of $152,000 for a week-long ‘plus expenses charter’. This would amount to approximately $45,600. This is a significant sum and something to consider when you are choosing your vessel.
A ‘bareboat charter’ is another, less common charter. This charter does not include provisions or crew. It is usually preferred by experienced yachtsmen and ladies or those who are able to supply their own crew.
How much does a yacht charter cost?
The price of your charter will depend on the reputation of the crew and the age of the yacht. But the most important factor is the yacht’s dimensions. A larger yacht will likely mean a higher cost.
Burgess is a leading yacht brokerage. A week charter in the Caribbean aboard a 163.3-foot Home starts at $245,000. You can also choose the Laurentia (180.5 ft) for $450,000. These yachts, which can hold 12 guests, were built by Heesen in 2017, but the price difference is more than $200,000 For larger vessels, expect a higher APA.
It might surprise novice charterers to discover that a larger yacht does not necessarily mean more guests. International Maritime Organization safety regulations dictate that superyachts can only accommodate 12 guests.
What does the price of a yacht depend on its type?
Although the answer is yes, it’s not as large as its size. There are two types of yachts. Classic yachts were built between 1920s and 1970s. Sportfishing yachts can be nimble and have a long range to reach the best spots for diving or fishing.
Although sailing yachts have a lot of popularity among boating enthusiasts it is not the most common choice for chartering. Motor yachts, however, are more popular. These are the type of superyachts that most people think of when they think about chartering. However, because they are often larger, they can be more expensive to buy, maintain, and fuel. Explorer yachts, motor yachts that are built to handle extreme conditions, are the best choice if you want to charter a luxury superyacht to Antarctica.
In the last decade, explorer yachts gained popularity with adventurous travelers who are looking for luxurious adventure on the seven oceans. A week aboard the Bold 311.68 ft explorer yacht costs $964,300. This makes it one the most expensive yachts you can charter. It’s also comparable to the price for chartering the creme-de-creme superyachts, such as the O’Pari. For $1.1m, you can charter a week onboard O’Pari at 312 feet.
Are chartering during particular months more costly than other months?
The season will affect the charter price. The main seasons of yachting are summer and winter. If you charter during these peak times, the price will go up. Summer rates are highest in July and August, while peak rates can be found from May through October. The winter season lasts from November to April. It is peak rate during the Christmas holidays, and into the new year. A charter’s cost depends on where it is located. Caribbean charters are more expensive between December and March, while Mediterranean charters can be found at their most expensive in the summer.
How about gratuities, expenses and other unexpected costs?
A Mediterranean jellyfish is not strong enough to sting a first-time sail boater like an end-of trip expense. The APA for a charter with ‘plus expenses’ is paid before you sail. The ship will keep a list of all outgoings and if they exceed the amount of your APA you will be asked for payment. This is because it works both ways – any unused APA will get refunded.
Crew gratuities do not count in yacht charter prices for all-inclusive charters or those with additional expenses. If you were satisfied with the service, the going price is usually around 15% to 20% of the charter price.
The cost of your charter may include docking fees. These are charges you pay to have your yacht stored in a marina for an overnight. These vary depending on the area, the time of year, and the size of your yacht. High season will see the highest docking fees, with Capri and St Tropez attracting the highest premiums.
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