SEA FOR YOURSELF

Breaking Down The Cost Of An Oligarch's Yacht

The world's wealthiest individuals love splurging on luxury vessels. Here's how much it burns their deep pockets.
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Some superyachts will set you back $660,000 per week, while those who prefer to purchase their own can choose to spend $600 million for the best possible option.

Yachts come in different shapes and sizes. They range from 130 feet (the length of three NYC buses) to 500 feet (13 buses), and have become the definitive sign of opulence among the world's richest people.

Here's how much things end up costing for those who choose the yacht life.


Key Takeaways

  • Sales are typically brokered by former captains, who take a three percent fee of costs. Broker hotspots include Monaco, New York, Fort Lauderdale, Sydney, Dubai, London and Hong Kong. Brokers will usually help with the logistics and security regarding sales.

  • Only about 100 yachts in the world are longer than 300 ft., of which some reports suggest 18 are Russian owned. Owners of such vessels are business moguls, dynastic families and royalty from around the world.

  • New boats built in specialty shipyards, in countries like Holland or Germany, take years to get made and come with a 50 percent markup on the sticker price. Labor is expensive, and a bulk of costs go towards the steel hull, engine room equipment, deck and paint. Just ask Jeff Bezos.

  • Inside the yacht, hiring an interior designer will cost you around $4 million, one Ford Lauderdale based designer told the NYT. He added that adding a disco (would add between $1.5 and $2.5 to the bill), movie theater ($2 million), gym ($1–$1.5 million) and safe rooms with doctors ($2–3 million) are all possible upgrades.

  • Keeping a yacht in operation costs around 10 percent of its original price. Docking costs for large vessels are estimated to be around $29,000 per week and a trip from the Mediterranean winter to the Caribbean summer would burn around $300,000 of fuel.





Via The New York Times.

[Photo by Eugene Chystiakov on Unsplash]

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