Yacht charters are synonymous with luxury and exclusivity, offering unique experiences in stunning locations.
This guide provides a detailed look into yacht charter costs, helping you navigate the financial aspects of your luxury sea journey.
Understanding the intricacies of yacht charter costs.
There are two major pricing structures: “all-inclusive” and “plus expenses”. All-inclusive charters cover all costs upfront, while plus expenses charters list additional costs.
In this article, we will focus on the ‘plus expenses’ charter for crewed motor yacht charters.
While the charter rate represents a significant portion of your expenses (50/60%), it’s essential to consider other associated costs.
The base price (charter fee) typically includes yacht rental, crew service, and basic amenities. The overall cost includes VAT at variable rates (20/10/2.5% in France and Corsica for example), all expenses (food, beverages, extras such as specific water toys or onshore excursions), local taxes, and any delivery fees.
Additional expenses not included in the base price can significantly affect the overall cost. It all depends on the type of charter contracts used to secure your booking (MYBA contract, ECPY transport contract for example).
General expenses encompass fuel, dockage fees, food, and beverages, all of which are covered by the Advanced Provisioning Allowance (APA). Typically, the APA amounts to an additional 35% (40% in 2024) on top of the charter fee.
In addition, there are crew gratuities to consider. These gratuities, which usually range from 10% to 15% of the base charter fee, are customary and serve as an expression of appreciation for the service quality provided by the yacht crew.
A professional charter broker will provide you with a detailed breakdown of these expenses, helping you anticipate and plan accordingly.
One example is the charter rate for MY Flying Fox.
Captain’s role in managing cost
Additionally, the captain plays a vital role in managing the costs during your charter.
The captain will ensure efficient fuel consumption, optimal provisioning, and navigating the best routes to optimize your experience while keeping costs within your predetermined budget.
He will also regularly report on any substantial additional expenditure that may have changed from the original estimate.
Main factors influencing charter cost
Several factors influence the cost of a private yacht charter:
Yacht size, pedigree, and amenities
The length and type of yacht you choose significantly impact yacht charter prices.
Larger, newer, and more luxurious and exclusive yachts built by German and Dutch shipyards known for their quality, such as Feadship, Lurssen, Abeking, or Amels, with state-of-the-art amenities, command higher charter rates.
Additionally, the pedigree and age of the yacht, together with a skilled crew, can affect the price.
Destination
The destination and time of year also play a crucial role in determining charter rates.
Popular yachting destinations like the Mediterranean and Caribbean generally have higher rates, especially during peak seasons.
Duration
The duration of your charter directly impacts the total cost.
Longer charters generally come at a higher price, although some companies may offer discounts for longer rental periods. Also, not all yacht brokers – and owners- accept charter bookings longer than two weeks.
Seasonality
The time of year can also affect the cost of chartering a yacht, with peak season prices often being higher than off-season prices.
During shoulder season, it’s not uncommon to benefit from substantial discounts on the gross charter fee, between 10% and 15%.
Check out our new yacht charter portal, Charter-deal.com, to find special offers and last-minute deals on your next luxury vacation.
Charter contract and terms
Choosing the right charter contract can make a significant difference to the overall cost and experience of your charter holiday.
In France, transport contracts (ECPY contracts) typically benefit from a reduced VAT rate of 10% instead of the standard 20%. They also offer duty-free fuel as long as a specific yacht itinerary is presented.
However, please note the following:
- Not all commercial yachts manager agree to charter under transport contracts.
- Recent audits by tax authorities in 2023 have resulted in the reclassification of some transport contracts as MYBA charter contracts. This has led to unexpected VAT assessments and penalties for some businesses.
- Yachts rented under the MYBA contract are no longer eligible for substantial reductions in VAT rates.
Sample charter cost
Private yacht charter costs can vary significantly depending on the factors mentioned above.
To provide you with a general idea of the price range, let’s explore some average figures for different yacht types in high season Mediterranean charters:
- Motor yacht (100ft): 55/125k€ + VAT + expenses
- Sailing yacht (60ft): 20/25k€ + VAT + expenses
- Sailing catamaran (75ft): from 60k€ + VAT + expenses
- Superyacht (130ft+): from 180k€ + VAT + expenses
Yacht rental cost breakdown
Here is a brief and indicative breakdown of the costs to give a full understanding of the total yacht rental expenses involved in chartering a motor yacht:
- Charter fee + VAT + delivery fee: 50-60%
- Provisioning (APA): food & drink, fuel, berth: 35-40%, with a lower percentage for sailing yachts
- Crew tip: 10-15% of the gross charter fee on average
- Additional activities such as shore visits, transfers, restaurants: 5-10%
VAT rates: from 0% according to ECPY Transport contract in Corsica to 22% in Italy or 24% in Greece.
It is important to note that these figures are approximate and can vary based on specific yacht models, features, and charter agreements.
Did you know ?
Fast Italian sport yacht: Mangusta 108ft
Fast motor yachts, including large models from Mangusta, Sunseeker, or Leopard, can consume up to 1,300 liters of fuel per hour. It’s crucial to carefully plan your charter itinerary, avoiding constant full throttle to prevent exorbitant fuel costs by the end of your charter.
How can a seasoned charter broker assist you?
A professional charter broker acts as your trusted advisor throughout the entire process, from selecting the perfect yacht to negotiating the best terms and ensuring a seamless charter experience.
Our vast network and industry knowledge allow us to find the most suitable yacht options within your budget. We work closely with the captain and crew, sharing your preferences and requirements to deliver a tailored experience.
A professional charter broker possesses a deep understanding of the yachting landscape in this exquisite region. We curate bespoke experiences that align with your desires and preferences.
Our expertise extends from Cannes to Saint-Tropez, Monaco, and Corsica, showcasing the allure of these stunning destinations.
Here’s how a dedicated charter broker can elevate your maritime adventure:
- Tailored selection: We handpick a selection of maxi-catamarans and luxury crewed yachts, perfectly matching your group’s size and preferences.
- Local insights: Our in-depth knowledge of the French Riviera and Corsica ensures you explore hidden gems, away from the tourist throngs.
- Smooth logistics: From dockside to dining, we manage all logistical aspects, ensuring a seamless and stress-free journey.
- Exclusive experiences: We craft unique itineraries, unveiling the authentic essence of each destination, all while avoiding the clichéd tourist traps.
- Cost efficiency: Through our extensive network and negotiating prowess, we secure competitive rates for your yacht charter, ensuring value for your investment.
- Environmental responsibility: We take pride in our eco-friendly fleet of maxi-catamarans, promoting responsible yachting to preserve these pristine waters for future generations.
With their guidance and expertise, you can navigate the world of yacht charters confidently, knowing that they have your best interests in mind.
Disclaimer: the information provided in this article is for informational purposes only. While every effort has been made to ensure the accuracy of the information, we cannot guarantee its completeness or correctness.
Charterers are advised to conduct their own research and adhere to any local regulations and guidelines.
Key takeaways
- The cost of chartering a yacht is influenced by several factors, including the size of the vessel, its location, the length of the charter, and the time of year.
- The base charter fee varies from one yacht to another and may increase during high season and reduce during low season.
- In addition to the base rate, factors such as fuel, taxes, crew wages, food, insurance, dockage fees, and gratuity can significantly impact the overall cost of the charter.
- A week-long private yacht charter can cost anywhere from $18,000 for smaller sailing boats to over $3,000,000 for luxury yachts, with rates influenced by the factors mentioned above.
- The cost can also be affected by the type of charter contract, the role of the captain, and any additional expenses such as food, fuel, and other extras.
Contact us: begin your luxury yacht charter journey
Ready to embark on a luxury yacht charter?
Contact our brokers to start planning your dream voyage. With our expertise, personalized service, and commitment to excellence, your journey promises to be as unique and unforgettable as the Riviera.
Post updated on July 6, 2024
Additional resources
- Fuel cost calculator (day charter)
- Can you negotiate a yacht charter ?
- Are there any hidden costs in yacht charter?
- How to find the best charter deals
- Complete yacht charter FAQ by Charter-Deal
- Why choose Charterminute
