It is not a debate of how much cost a luxury yacht can become. In fact, most of the people who own luxury yachts are the ones who are successful and have a lot of money to spend. When you are looking for the best option for a luxury yacht to buy, there are a number of considerations to make before you go ahead and make the final decision. One of the most important things that you need to look at is the price. By now, you already know that buying a luxury yacht for sale is going to cost you a good amount of money. What most people do not look at when making this decision is how much it is going to cost them when it comes to the running of the yacht itself.
You may end up spending tens and hundreds of dollars on a luxury yacht and the cost is likely to go up especially when you consider how much extra you are going to spend when it comes to the annual upkeep of the yacht. By the end of the month, you may end up spending an amount that is close to 7 figures and even more. On an average and depending on the type of luxury yacht for sale you are thinking of buying, you may end up spending a total of $275 million. But this is on the high end, if you have a good broker helping you out, then you might be lucky enough to find a cheaper option for you.
There are a number of things like the general maintenance of the yacht, the gas prices, the salaries of your crew and the taxes that you need to pay that are still going to be included in the total amount of money that you may end up spending. With all of these factors put together, you may end up spending a total of $350,000 and when it comes to insurance alone, then you may end up spending a total of $240,000 on the low. When it comes to the captain of this luxury yacht, they may end up making around $70,000 in a year to around $240,000. However, this amount is going to depend highly on the size of the yacht. It may either be a small vessel or a large one.
How much in detail will you spend on maintenance?
We have already given the estimated amount of money that you are likely to pay for your yacht above as well as when it comes to its maintenance. However, when you go into detail on how much the crew working there are going to be paid from the cleaning of the yacht to the food preparation, you may end up spending a total of $150,000. However, this amount is also going to depend highly on the size of the yacht as well as the total number of people that it is actually able to hold.