The annual maintenance costs of a superyacht

Published on : 18 August 20202 min reading time

Without question, having a superyacht is far from being within everyone’s reach. Indeed, to obtain this famous precious gem, hundreds of millions of dollars are needed. But there is not only its price! The annual maintenance of a superyacht also requires careful consideration. For good reason, unlike a car or a motorcycle, the maintenance of this equipment is extremely expensive.

What is a superyacht?

Currently, those who own a superyacht are considered to be rich people. For your information, a yacht is a pleasure boat, which comes in two types: sailing or motor. In most cases, this famous boat is used privately and is equipped with enough cabin space to accommodate the owner. At present, the yacht is available in many versions. These include large private luxury boats, commonly known as megayachts or superyachts. The latter are enormous in size, ranging from 60 metres in length. Depending on their size, they can cost a fortune to build. Of course, these huge luxury boats offer plenty of room for a wine cellar, a basketball court, or even a large private cinema.

What are the annual maintenance costs of a superyacht?

The annual maintenance costs of a superyacht like the ones available at PRESTIGE for instance, depend on many criteria. First of all, from the initial stake, you will be taken to costs in the vicinity of a seven-figure figure. These include VAT of 15-25% of the value of the vessel, annual operating costs which are 10% of the initial value and finally, fuel consumption, provided that you prefer a 71-metre long yacht that consumes 500 litres of diesel fuel.

What budget should I set aside for the maintenance of my superyacht?

To give you a head start, if you own a 45-metre yacht, you should plan an annual superyacht maintenance cost of approximately $2.5 to $4 million per year. For the annual costs, it is best to prepare fuel of $400,000, insurance of $240,000, maintenance and repair if needed of $1 million with a docking fee of $350,000 and crew salaries for the boat’s caretaker of $1.4 million.

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