"The hidden costs of owning a (super)yacht"

[Alaskaflyer]

https://www.cnn.com/travel/article/hidden-costs-of-owning-a-superyacht/index.html

Interesting application of the 10% rule of thumb, whether you love it or hate it.

 

[psneeld]

I am not sure how many here can relate to superyachts.

 

[Alaskaflyer]

"Jet owners have told me many times that the yacht expenses are cheap."

Lol. I guess this reflects my own experience, if you substitute tiny, aging, gasoline-powered examples of both species.

 

[Alaskaflyer]

I am not sure how many here can relate to superyachts.

With the exception of paid crew, it is all a matter of degrees.

 

[psneeld]

With the exception of paid crew, it is all a matter of degrees.

Not really, some of us own boats that aren't as "flashy" and if resale is ever in the picture....losing 15% on $50,000 is a bit different than losing that on $150,000,000.

Motivations in boat ownership are all over the map, but economic levels may change those a bit.

 

[gt7834a]

‘He estimates that a 150-foot superyacht will cost around $2 million a year or roughly $200,000 a week to run.’

That is some really terrible math.

 

[backinblue]

I am not sure how many here can relate to superyachts.

That was my first thought as well

 

[backinblue]

‘He estimates that a 150-foot superyacht will cost around $2 million a year or roughly $200,000 a week to run.’

That is some really terrible math.

Not if it only is used for 10 weeks out of the year.

 

[Comodave]

Look at the Below Deck TV series and what people pay to charter those boats for 3 or 4 days. I read somewhere that it was in the $200,000+ range.

 

[backinblue]

Look at the Below Deck TV series and what people pay to charter those boats for 3 or 4 days. I read somewhere that it was in the $200,000+ range.

I do watch that show and you are probably right since they are routinely handing out a crew tip in the $15-20K range.

 

[Lollygag1]

They likely cut the costs down by shopping at Costco, clipping coupons and asking the guests to bring a 6 pack. My guess is these owners have very little clue about the annual cost and likely do not care

 

[Alaskaflyer]

At my Costco - and in the one in Bozeman, Montana where I routinely shopped before moving last year - you couldn't swing a cat without hitting three multi-millionaires.

 

[backinblue]

Multi-millionaires are not that uncommon today

 

[rgano]

At my Costco - and in the one in Bozeman, Montana where I routinely shopped before moving last year - you couldn't swing a cat without hitting three multi-millionaires.

I'm the only one I know of in my local Sam's. At least that's how we seem to spending these days.

 

[wkearney99]

No part of my recreational boating ever needs to include having to employ staff. Just... no.

I don't want all the potential drama encroaching on my fun. Nobody's sick days or other issues, no on-going payroll and other liabilities. There's really "not enough money" to buy my way into putting up with, or ignoring, all that. Some folks are wired that way, I suppose, not me.

 

[Alaskaflyer]

They likely cut the costs down by shopping at Costco, clipping coupons and asking the guests to bring a 6 pack. My guess is these owners have very little clue about the annual cost and likely do not care

It makes me think that as often as you see superyachts on the market, even the uberwealthy eventually feel the pain, or at least they eventually listen to the advice of their accountants.

 

[Alaskaflyer]

Multi-millionaires are not that uncommon today

Sure, if you define it as "more than one" I'm sure many of us would qualify.

Sorry folks, I posted the article after reflecting on the theme of the 10% R.U.T. for maintenance and upkeep that is often mentioned for our more homely (and home-y) examples. Bad math notwithstanding.

 

[backinblue]

Sure, if you define it as "more than one" I'm sure many of us would qualify.

Sorry folks, I posted the article after reflecting on the theme of the 10% R.U.T. for maintenance and upkeep that is often mentioned for our more homely (and home-y) examples. Bad math notwithstanding.

Is that not the definition of multi?

 

[wkearney99]

It makes me think that as often as you see superyachts on the market, even the uberwealthy eventually feel the pain, or at least they eventually listen to the advice of their accountants.

Or it's no longer the show-off toy that 'works' for their social bragging so they move on to something else.

I vaguely recall a saying that the poor only care that they have food, the working-classes care how much the food costs, and the wealthy only care how the food is presented (looks). The same could largely be applied to housing, boats and what-have-you.

 

[OldDan1943]

Being a multi-millionaire aint what is used to be. Better aim higher unless the boat is owned and maintained by a big corporation.

 

[BandB]

No part of my recreational boating ever needs to include having to employ staff. Just... no.

I don't want all the potential drama encroaching on my fun. Nobody's sick days or other issues, no on-going payroll and other liabilities. There's really "not enough money" to buy my way into putting up with, or ignoring, all that. Some folks are wired that way, I suppose, not me.

Wifey B: Oh I so disagree. Hire the right staff, treat them right, and they'll be the joy of your life, becoming incredible friends. We love them all.

 

[boatruptcy]

Wifey B: Oh I so disagree. Hire the right staff, treat them right, and they'll be the joy of your life, becoming incredible friends. We love them all.

Ugh, the not so humble, humble brag.

 

[Hippocampus]

One of my closest friends worked as a captain for mega yachts.
They are owned by business men(and women). They’re run just like any other business these people own. Owners do keep a close eye on profit/ loss and he was generating spread sheets all the time. He most commonly reported to administrative officers inside the parent organization but on occasion directly to the owner.
There’s a whole network of vendors throughout the world for food and drink, linens, mechanical services etc. that deal only with super yachts. Orders placed while in transit and delivered once dockside. The level of organization is awe inspiring with the captain serving as ceo, cfo and captain. These vessels commonly do a circuit year after year with a few of the expedition type vessels being outliers. They run like well oiled machines. It’s been great fun knowing him and his bride (chief chef) and being on those vessels when the owners party isn’t aboard. If you’re white, young, South African and have no tattoos or obvious piercings maybe he can find you a job. If you want to sail hire on a small one. For the big ones it’s cheaper to power than sail so the sails are rarely used except for regattas and races.

 

[gsholz]

You are not "Yachting" until you hire a full-time captain and steward. The rest of us just boat.

 

[backinblue]

You are not "Yachting" until you hire a full-time captain and steward. The rest of us just boat.

In that case, I'd rather boat!

 

[Alaskaflyer]

One of my closest friends worked as a captain for mega yachts.
They are owned by business men(and women). They’re run just like any other business these people own. Owners do keep a close eye on profit/ loss and he was generating spread sheets all the time. He most commonly reported to administrative officers inside the parent organization but on occasion directly to the owner.
There’s a whole network of vendors throughout the world for food and drink, linens, mechanical services etc. that deal only with super yachts. Orders placed while in transit and delivered once dockside. The level of organization is awe inspiring with the captain serving as ceo, cfo and captain. These vessels commonly do a circuit year after year with a few of the expedition type vessels being outliers. They run like well oiled machines. It’s been great fun knowing him and his bride (chief chef) and being on those vessels when the owners party isn’t aboard. If you’re white, young, South African and have no tattoos or obvious piercings maybe he can find you a job. If you want to sail hire on a small one. For the big ones it’s cheaper to power than sail so the sails are rarely used except for regattas and races.

I've seen you write something like this before. I'm curious why Afrikaners are so sought after for yachting crews, or is your acquaintance from there and that's why? OTOH I have noticed on yacht videos that young crewmembers - be they in the Med, in SW Pacific or Nantucket - often appear to have the dialect

 

[kthoennes]

We live a very comfortable life, but boy that's an entirely different world.

 

[Hippocampus]

There’s little work available for them in their home country. Many in the 20 to 30 y.o. range figure it’s a good way to get out and see the world. They’re in demand as unlike American youth and some other countries they will work hard for short money and aren’t entitled in attitude. Owners tend to not like tattoos nor piercings and that fashion is less prevalent as well. My captain friend was a USN lifer left when as O6 offered O7 but had enough. Still knocks his ring when he wants your attention.

 

[rgano]

You are not "Yachting" until you hire a full-time captain and steward. The rest of us just boat.

I've been wondering all these many years what I was doing.

 

[psneeld]

Its a rare ring knocker to turn down flag....I couldn't imagine it for the world unless had a super sweet job in the wings.