How Much Does A Superyacht Cost?

The superyacht market has experienced a significant surge in demand, especially during the COVID-19 pandemic, with more growth expected over the next decade. Currently, there are about 15,000 yachts worldwide that require professional crew, highlighting the thriving luxury yacht industry despite the hefty price tags associated with these vessels. But how much does a superyacht cost to buy and maintain? If you’re curious about the price of these luxurious yachts, we’ve got a summary of the costs, both initial and ongoing, in 2024.

Building a Superyacht

Constructing a custom superyacht is a complex and time-consuming process. According to Stuart Bray of Bray Marine International, the steps include selecting designers, shipyards, and outfitting the yacht with everything from engines to interiors. On average, the cost to build a custom superyacht is around £1.5 million per square metre, and it can take three to four years to complete.

Alternatively, purchasing a second-hand yacht can be a quicker, more affordable option, though it still comes with a price tag averaging around £20 million. However, customization of an existing yacht can quickly drive up costs.

Operating Costs

Owning a superyacht comes with ongoing expenses, often reaching 20% of the vessel’s original purchase price annually. These costs include fuel, crew salaries, dockage, maintenance, and insurance. For example, a yacht costing £1 billion could have yearly operating expenses exceeding £200 million.

Fuel alone can be a significant expenditure, with larger yachts consuming around 500 liters per hour and racking up fuel bills of over £24,000 per overnight cruise. Additionally, crew salaries can reach over £1.2 million per year for a 60m yacht with a 16-person crew, while maintenance work every five years adds more to the bill.

Hidden Costs

Dockage fees, insurance, and maintenance are just the beginning. Docking in prime marinas during luxury events like the Cannes Film Festival can cost up to £60,000 for two weeks, and insurance for a high-value superyacht can easily surpass £8 million per year.

Owning a superyacht is undoubtedly a mark of luxury, but it comes with a steep price tag – not just for the initial purchase, but for the upkeep and running costs year after year.

To keep up to date with the latest Superyacht Content News, click here.

Sign up to our Newsletter below: