Travelers who are tempted to buy luxury boats for sale should be crazy rich. The hidden costs for maintenance are not small. For the general public, who have mediocre wealth, let alone not a priority customer of an established bank, the hidden money for superyacht maintenance doesn’t even make sense.
But, it’s different for those who have unlimited money. Superyachts are a way for the super-rich to vacation more exclusively without distractions. Superyachts are still selling well, even during the Coronavirus pandemic. More than a billion dollars has been spent on superyachts this year. Amazon founder Jeff Bezos’ yacht is one of the most expensive with an estimated price tag of $500 million.
It’s not just a nominal amount that needs to be prepared to have a superyacht. Because the maintenance costs for the superyacht are also very large, reaching tens of millions of dollars every year. According to a UK-based report, superyacht owners will spend at least 10% of the purchase price on annual fees. The cost is for maintenance and operation.
For example, one of the largest superyachts ever built and reportedly costs around USD 605 million. Perhaps the annual derivative costs reach USD 60 million. It is estimated that the 45-meter long superyacht will cost around USD 2 million per year or about USD 200,000 a week in operating costs.
What’s all that money for? The superyacht’s huge expenses are used to buy fuel, docks, ship insurance, and maintenance. It is also estimated that the cost to insure a 50-meter long yacht is around USD 73,000.
While the cost of fuel can reach USD 281,000 for one year depending on how far the owner travels. The fuel bill for a large superyacht traveling from the Caribbean to France may be around USD 70,000.
Onboard logistics supplies, such as water toys, furniture, art, medical supplies, and sports equipment also cost a lot of money. These items may not be taken into account by those who are used to renting a fully loaded boat.