Planning a yacht charter can be an exciting task, but also a challenge – especially when it comes to estimating costs. One of the most common questions for novice charterers is “how much does it actually cost to rent a yacht?” ?” Yacht charter costs depend on many factors, including yacht type, charter destination, local taxes, and base costs. This guide will give you an in-depth look at the cost of chartering a yacht.
Why Charter A Yacht
Nothing embodies laid-back luxury like your private yacht.
If you’re looking to explore a new coastline, spend some time with friends or family, or exercise your marine muscles, there’s no better way than to sail away on your own luxury yacht.
Chartering a yacht means you can enjoy all the comforts of home, allowing you to explore some of the most beautiful destinations in the world.
At Seabastus Sailing, we offer a wide variety of yachts for charter, from stylish sailboats to spacious motor yachts. Plus, there’s an exciting array of beautiful tropical destinations sure to delight your group.
Each of our yachts has been carefully selected for its outstanding beauty and charm, as well as luxury amenities such as air conditioning, WiFi access, TVs with DVD players, sound systems, and more!
If you are looking for an experience like no other, chartering a yacht is a perfect choice.
Yacht Charter Price Structure: “All-Inclusive” vs “Plus Expenses”
In the yachting world, you can enjoy two types of manned yacht charters – “All-Inclusive” and “Plus Expenses” charter experiences. What exactly do these terms mean? Here’s a quick look:
- All-Inclusive Yacht Charter – Some charters (mostly catamaran and monohull charters in the Virgin Islands) offer all-inclusive rates. This means the price is based on the number of guests and includes all food and beverages, water sports, and fuel costs. However, terminal dues and taxes are usually charged separately.
- Plus the cost of chartering – the cost of a large motor yacht does not include operating expenses, which must be paid separately. For these luxury charters, the base price applies only to the yacht. Additional charges, i.e. food, bar, fuel, dock, port taxes, and others, are charged separately. Most commonly, operating expenses are covered by an advance reserve or APA, usually 35% of the base price; this is the amount paid prior to chartering the boat.
Factors that Affect Yacht Charter Prices
As the charter yacht is privately owned, the price is determined by the owner. This partly explains the huge difference in price between boats of similar length. However, several other factors can significantly affect price, including:
Type
The answer is yes, but to a lesser degree than scale. When it comes to yachts, everyone has something to offer: classic yachts (built between the 1920s and 1970s) give you the old-fashioned charm of a bygone era, while sport fishing yachts are flexible enough to provide you with long-reach Opportunities for the best fishing (or diving) location. Sailing is a popular choice for boating enthusiasts, but in the long run, the most popular charter yachts are motor yachts. When you imagine a superyacht, it usually comes to mind that these (depending on size) tend to be the most expensive types of yachts and tend to be more expensive to buy, maintain, and fuel. An explorer yacht is a motor yacht designed to handle the most extreme conditions – for example, if you’re planning to charter a luxury superyacht to Antarctica, chances are you’ll be on one of those yachts.
Size
Crew reputation, age, and design of the yacht can all affect your charter price; however, the biggest factor affecting cost may be the size of the yacht: the bigger the yacht, the more you will pay.
For example, a one-week charter on this 163.3-foot yacht with leading yacht brokerage Burgess starts at $245,000. Prices start at $450,000 if you opt for the large Laurentia at 180.5 feet. Both yachts, built-in 2017 by the Netherlands’ leading Hessen shipyard, can accommodate 12 tourists, but the price difference is more than $200,000. Of course, you can also expect larger boats to have higher APAs.
Novice charterers may be surprised to learn that larger yachts do not automatically translate into greater passenger traffic. Most superyachts are capped at 12 passengers, according to the International Maritime Organization’s safety regulations.
Season
The time of year will affect your charter price. There are two main seasons for yachts – summer and winter, and chartering during these two peak periods increases the cost. Summer runs from May to October, with peak periods in July and August. Winter runs from November to April, peaking around Christmas and New Year. The location also determines the price of chartering; for example, from December to March, Caribbean charters are more expensive, while Mediterranean charters are highest in summer.
Destination
Your charter destination also plays a role in charter cost. For example, prices increase in areas without large charter fleets (i.e. the Galapagos), whereas Bahamas yacht charters, BVI charters, or Mediterranean yacht charters are priced more competitively.
Additional Costs Considerations on Yacht Charter
Advanced Provisioning Allowance
The APA for a surcharge charter is approximately 25-35% of the base price of the yacht. This is a fee charged prior to chartering a boat, similar to an expense account that the captain can use during the charter period. At the close of the charter, you will receive a detailed account of your APA account, as well as any unused APA cash funds.
In case of excess, you may need to replenish your APA account during the lease term. This can be done with cash, although many choose to set up accounts with their charter brokers, which can be accessed if requested by the captain.
Taxes and Value Added Tax (VAT)
Most boats—whether all-inclusive or add-on—will not incorporate local taxes or VAT into the charter rate. The charterer will be responsible for paying these taxes. Taxes vary widely by destination.
Insurance
Charterers can purchase cancellation and curtailment insurance, which is similar to traveler’s insurance. This insurance can help cover the cost of the charterer who has to cancel or shorten the charter period. A licensed broker can help you weigh your insurance options, often offering several different options.
Crew remuneration
While crew tipping is of course not mandatory, it is recommended, especially if you are impressed by your charter experience. Generally speaking, crew remuneration is about 15-20% of the basic charter fee and is handed over to the captain at the end of the charter.
Delivery Fee
While these fees do not apply to most charters, you may be required to pay delivery costs if you are not chartering at the yacht’s normal cruising grounds. In most cases, you will only pay for fuel for your trip.
Please call Worldwide Boat today for more information. Our car rental specialists will help you in detail and explain all car rental costs. Or read our charter advice guide for more information and tips for planning a charter vacation.
Final Words
Whether you want to celebrate a major milestone, spend some time with friends or family, or just want to experience life on the water, there’s no better way than to set sail on your own luxury yacht.
