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What is the Average Cost of a Private Yacht Charter?

It is simple to understand why so many individuals consider a chartered sailing voyage to be their ideal getaway. After a year of staying indoors, the thought of unlimited compelling exploration opportunities in the most opulent settings, with the wind rustling through your hair, sounds tempting. However, it can be challenging to determine whether a private yacht charter is actually within your vacation budget if you have never rented one before. They can be as expensive as a down payment on a home, thus it has always been a specialty of the super-wealthy.

The type of yacht, the charter destination, and local fees and taxes are some of the factors that affect the cost of a yacht charter. As a result, the rates vary greatly. Hence, the cost can range from $10,000 for smaller sailing vessels and catamarans to more than $150,000 for the most extravagant motor superyachts.

Yacht Charter Fee Structure

You can choose between two different kinds of yacht charters in the yachting industry, which are all-inclusive and expense charters.

1.    All-Inclusive Yacht Charters:

A few charter companies provide all-inclusive prices, primarily for catamaran and monohull charters in the Virgin Islands. This implies that costs are set according to the number of guests and cover all expenses related to:

  • Food and drink
  • Water sports

However, taxes and dockage are typically assessed separately.

2.    Plus Expenses Charters:

The running costs of larger motor yachts are not included in the rates since they are considered extra. The standard pricing for these lavish cruises is for the vessel itself. Additional fees are billed individually and include meals, drinks, fuel, dockage, port taxes, and other charges. Most of the time, 35% of the base price is paid in advance.

Average Cost of Bareboat Yacht Charters

With bareboat yacht charters, individuals seeking to fully immerse themselves in the spirit of adventure can attain their perfect sailing trip. When you’ve decided on a base location for your yacht charter, you are free to select the:

  • Route
  • Activities
  • Provisioning

A bareboat charter for a 40-foot catamaran is probably going to start at about $6,000 for a week-long voyage. More modern and larger capacity vessels will cost more. Moreover, if you’d like more assistance, you’ll also have to account for the expense of your own:

  • Fuel
  • Food
  • Price of hiring a local captain

Average Cost of Crewed Yacht Charters

With a group of knowledgeable crew members to handle everything from cuisine to travel, you have the whole yacht to yourself. A week-long crewed charter in the Mediterranean starts at approximately $7,000 (based on four people on a 40-foot yacht). Further, it includes a skilled skipper, a hospitable hostess, and basic cooking for two meals each day. This goes up to roughly $20–25,000 for a 55-foot catamaran that can accommodate 10 people.

You should budget extra for a more upscale experience if you choose a fully crewed charter that includes:

  • Jacuzzis
  • Exquisite cuisine
  • Phenomenal amenities

In such a case, the quality and number of services you choose will ultimately determine the total charges you’d pay.

 

Extra Expenditures on Private Yacht Charters

1.    Value Added Tax (VAT) and Taxes

The majority of boats, whether they are Plus Expenses or all-inclusive, do not include Value Added Taxes or municipal taxes in their charter rates. These taxes will have to be paid by the charterer. The following are some of the most well-liked locations for yachting, with varying taxes:

  • BVI – Tax: Based on the boat’s flag, the daily rate per passenger is between $6 and $16.
  • France: 20% VAT; nevertheless, if an itinerary passes through international waters, 10% VAT may be imposed.
  • Italy’s: VAT rate is 22%, but, if an itinerary includes international waters, it may only apply 6.6% (over 24 metres) and 8.8% (under 24 metres).

2.    Crew Gratuity

Although it’s not required, leaving a crew tip is advised, especially if your charter experience left you feeling impressed. A crew gratuity is often given to the captain at the end of your charter and is equal to 15-20% of the base charter rate.

3.    Insurance

Similar to traveler’s insurance, cancellation, and curtailment insurance is available to charterers. If the charterer needs to abbreviate or cancel the charter, this insurance may help with costs. Charter brokers may assist you in weighing your insurance alternatives and frequently present you with a variety of choices.

3 Factors That Affect the Cost of Private Yacht Charters

1.    Seasonal differences

Every place has a peak season, and these are the periods of the year when yacht charter prices are most likely to be highest. For instance, the Caribbean’s high season runs from December to April, which makes it the ideal location for travelers from North America and Northern Europe who want a break from the harsh winter weather. If you’d like to keep expenses down, it’s always worth considering an off-peak holiday. Why? Because the cost to hire a yacht may differ by 30% between low and high season.

2.    Destination

A yacht charter is typically less expensive in areas where sailing is more well-established. The infrastructure that these places have amassed makes it simpler to locate the personnel, supplies, and gear you require for a successful journey. In contrast, travel expenses are typically higher for farther-flung locations.

3.    Size of Party

Private yachts are the perfect venue for a vacation with family or friends because they lack the crowds of a hotel or regular cruise experience, thanks to their shared areas and several cabins. With the bonus of stunning views and new destinations to discover, an entirely crewed charter offers the all-inclusive hotel experience.

Larger yachts can accommodate up to twelve passengers, although the majority of yachts that are available for hire are designed to have at least six persons. Whether there are two of you on board or a full house, the prices of renting a yacht remain the same. In many cases, group travel can reduce your per-person expenses to less than $1,000. Besides, there are expenses per person to consider if you decide to go with an entirely crewed charter. However, going to a bigger group can still contribute to a lower total cost per person.

Final Note

When you begin to contemplate the vacation of your dreams on a yacht charter, the idea of cool breezes and high-end facilities instantly comes to your mind. Well, the possibilities are nearly limitless.

If you’re looking for a private yacht charter, contact our representatives at Imagine Yacht Charters to acquire information about our optimum packages!

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