Your Practice. Popular Courses. Table of Contents Expand. Running Costs. The Bottom Line. Key Takeaways A super yacht describes a personal boat that is both larger and more extravagant than typical private yachts.
These are a luxury item that belongs to those ultra-high-net-worth individuals who can afford them. Up-front purchase prices can be in the several millions of dollars, and then ongoing operating and maintenance costs could run another million dollars or more each year. Article Sources. Investopedia requires writers to use primary sources to support their work.
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How to increase your net worth. Executive Lifestyle. Hillary Hoffower. A yacht costs a lot more than the price its owner paid to buy it. There are additional expenses — for things like yacht crew, dockage, fuel, and maintenance — that many people don't think about. Many yacht crew members say they wouldn't own a superyacht even if they could afford one, because they're so much money and work.
Anything over that amount will mean you need a crew, and that is still one of the expenses you will have to pay for on your own. A superyacht can be one of the coolest experiences to go on if you have the opportunity, and there are a few things you can expect to find in a bigger yacht. Since you have a whole crew to take care of things on board, you can enjoy all of the superyachts amenities without worrying about anything else.
Here is what you can expect. Every yacht is different and will have different accessories and amenities. Not all superyachts are the same, and all the designs will be different. Just like with any other purchase like a car, your superyacht will depreciate in value, especially if you do not keep it well maintained.
This means the value over time becomes less than what you paid for. This can be a great concern if you plan on trading it in the future, or selling it when you are done. After a few years, it will only go down by 7.
This is not nearly as fast as some other things you could buy in your lifetime. It does, however, depend on what you buy and what it comes with. Most of these superyachts are big enough that they have special places for the crew to live onboard for the time they are at sea.
Superyachts do come with many amenities that a house may not even come with. They can come with rooms, fully equipped, gyms, saunas, pools, and full kitchens.
This could be better than a house or apartment! Handy Hint: Some superyachts can stay at sea for a very long time. You may be able to live on a superyacht, but it will still cost as much money as living in a house. Sometimes it could cost more than living in an apartment. A yacht may cost more. If you have a large superyacht, you will have to pay a crew, pay for gas, pay for food, and more!
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