Nothing screams wealth and luxury quite like spending time on a yacht. Taking in the sights from the deck and surrounding yourself with delicious drinks and wonderful people is an experience unlike any other you can have on this planet. The best part is you don’t need to spend billions of dollars to enjoy time on a yacht with your favorite people.
If you have a big event worth celebrating or you want to enjoy a day on the water in style, it’s wise to charter a yacht. You can show off your wealth and affluence while hosting the people who mean the most to you.
The good news is that you’ve found the perfect resource to determine what it will cost to charter a yacht for the big day. Keep reading to prepare your funds to charter a luxury yacht today!
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What Is Included When You Charter a Private Yacht?
The odds are that you’re already aware that you’ll spend a small fortune for your time chartering a yacht for your friends and family. You deserve to know what your money will provide when you schedule your time on the vessel. The base price when you charter a yacht is charged weekly.
The amount you’re paying per week will account for up to 80 percent of the total cost, depending on other factors during your time on the luxury yacht. It’s important to remember that you’re paying for the ship, insurance, and the toys and equipment the craft comes with.
Larger yachts with more amenities and luxurious features will cost you more. Knowing the factors that change the price of your chartered boat will help you build a budget to create an unforgettable trip to paradise on an all inclusive luxury cruise.
Size of the Yacht
One of the most significant factors that influence the cost to charter a yacht is the size of the yacht. The least expensive option is a small yacht between 65 and 80 feet. The low-end price to charter a yacht this size for a week is $20,000, while the more luxurious small yachts cost up to $80,000 per week.
Medium-sized yachts, which range from 80 to 100 feet long, will cost more money to charter every week. Expect to pay between $80,000 and $120,000 weekly to charter one of these small cruise ships.
Superyachts jump up to $100,000 weekly for your chartered yacht trips, while mega yachts range up to $1 million. It comes down to your budget and your needs for your upcoming vacation.
Type of Yacht
You should also consider the type of yacht you’re chartering if you’re worried about the cost of chartering a yacht. A motor yacht will cost more to charter since it requires more fuel. A sailing yacht is a less expensive option that offers a leisurely experience on the high seas.
The year and builder of the yacht also determine what you’ll pay per week. Reputable yacht manufacturers like Lurssen and Vitters will cost more to charter for your trip. The size of the crew will also play a role in how much you pay to charter a yacht.
As with many types of vacations, yacht charters have high and low seasons. You will pay significantly more if you charter a yacht during the high season, which falls during the heart of summer. Avoid chartering a yacht in July and August if you want to pay lower prices for the same incredible experience.
You’ll also find a high season during the winter months in the Caribbean when people from North America seek a way to escape the chilly temperatures and snowy weather. Avoid chartering a yacht between November and February to get the best prices possible.
You can also pick destinations that appeal to you when you decide to charter a luxury yacht for a vacation. It’s critical to remember that the destinations you’re choosing will impact how much you’re spending for your yacht experience. An isolated destination like the Galapagos Islands will cost far more than chartering a yacht to visit islands like The Bahamas and Jamaica.
Destinations like the Caribbean and the Mediterranean will cost less than isolated areas. There’s more competition in these markets, allowing you to save money by finding yachts that offer the best deals possible.
APA stands for advance provisioning allowance, which will impact how much your yacht vacation comes out when the dust settles. These costs come from the fuel for the yacht, any special requests you make, and other variable costs from your time on the yacht.
Your APA also pays any taxes and port fees that you incur during your time on the ship. It’s a transparent budget management system that the captain of the yacht handles on your behalf. You’ll receive an accurate and detailed breakdown of what you owe at the end of the cruise.
Expect your APA to account for up to 30 percent of the total cost to charter the yacht. You can pay it in advance, but it’s best to estimate your APA on the high side to avoid owning more money when your vacation ends.
Taxes and VAT
Chartering a commercial yacht is a taxable commercial activity in Europe, so it’s possible you’ll owe still more money in taxes at the end of your yacht excursion. The VAT gets added to the charter fee, and it’s owed in the country that the yacht trip originated in. Greece is notable for having the highest VAT in Europe at a staggering 24 percent.
Now You’re Prepared to Charter a Yacht
Money is a significant factor when you decide to charter a yacht for your next vacation, and it’s vital to know where those costs come from when you book the trip. A small yacht will run as low as $20,000 per week, while a mega yacht could cost up to $1 million per week. The destination, amenities, and locations will all play a role in how much to charter a yacht for the trip of a lifetime.
Are you ready to hit the high seas and make memories you’ll never forget? Check out the rest of our blog posts for more illuminating articles like this one today!