When planning to rent a luxury yacht, you will need to keep cost in mind. Yachts have a base price, which includes the weekly rate to rent the yacht. However, there are also additional expenses, such as food and drink, fuel, and local taxes. The ultimate price of the yacht will depend on a few factors. These factors include the type of boat, local taxes, base costs, and charter destination. Yacht charters have a wide range of base prices and charters can cost anywhere from $10,000 per week to $150,000 or more per week.
Different Price Structures
There are two different types of pricing structures when you rent a luxury yacht. All inclusive yacht charters mean that the rate is based on the number of guests, and these charters include food, drink, fuel costs, and water sports. Taxes and dockage fees may be charged separately from the base price. Plus expenses charters will be for bigger motor yachts and don’t include a lot of the expenses, so they are charged separately. The base price is for the yacht only. Additional expenses, such as dockage, food, and port taxes, are charged separately. These expenses can be paid in advance before the charter.
Facts That Affect Cost
Luxury yachts are privately owned, so prices are set by the owner, which helps explain the wide range of price differences that are for boats of similar length. In addition, there are some other factors that affect cost. The year the boat was built, any previous owners, and the selection of water toys on the yacht can all affect prices. Boats can also develop a reputation, so if the boat has a good reputation and is more in demand, then it can also affect pricing. Prices will typically be higher in the high season. This is in the winter for the Caribbean and the summer for the Mediterranean. If you are looking to save money, try traveling in the low seasons. The charter destination will also play a role in costs. Prices can increase in areas that don’t have large charter fleets, while in other areas, such as the Bahamas, yachts are priced more competitively.
Additional Costs to Consider
Advanced Provisioning Allowance, or APA, is between 25% and 35% of the yacht’s base price. This fee will be collected prior to the charter and acts like an expense account that captains can use during the charter. At the end, you receive an itemized account of what was taken out and will get any of the unused funds back in cash. If there are overages, you may be required to replenish the account during the charter. Taxes won’t be included and taxes will range by destination. Crew gratuity is not mandatory but is recommend, and it should be 15% to 20% of the base price.