Understanding the Costs of Yacht Charters: Your Comprehensive Guide
Planning a yacht charter is an exhilarating adventure, but estimating the costs can be overwhelming, especially for first-time charterers. This detailed guide aims to simplify the process and help you understand the various components of yacht charter pricing, ensuring you are well-prepared for your dream vacation.
Basics of Yacht Charter Costs
The cost of a yacht charter is primarily based on the base price, which is the weekly rate for renting the vessel. However, there are additional expenses such as food and beverages, local taxes, and fuel. This section will break down these essential components to help you budget effectively.
Types of Yacht Charters: “All-Inclusive” vs “Plus Expenses”
There are two main types of yacht charters available: “All-Inclusive” and “Plus Expenses”. Understanding these options will help you choose the best charter experience for your needs. If you are looking for charter brokers specialising in all-inclusive yacht charters All Inclusive Charter Inc. should be on your radar.
All-Inclusive Yacht Charters
Commonly found with catamarans and monohulls in the Virgin Islands, these charters include all meals, beverages, water sports, and fuel in the price. Dockage and taxes are typically charged separately.
Plus Expenses Charters
These charters are usually for larger motor yachts where the base price covers only the yacht rental. Additional costs such as food, drinks, fuel, dockage, and taxes are covered by an Advance Provisioning Allowance (APA), typically 35% of the base price, paid upfront.
Average Base Prices for Different Types of Yachts
Here is an overview of the average weekly costs for different types of yachts, excluding extra expenses:
Sailing Yachts
- Under 80ft: $10,000 – $20,000
- 80ft – 120ft: $20,000 – $50,000
- 120ft – 150ft: $50,000 – $100,000
- Over 150ft: $100,000 – $200,000
Catamarans
- Under 50ft: $10,000 – $20,000
- 50ft – 65ft: $20,000 – $35,000
- 65ft – 80ft: $25,000 – $50,000
- Over 80ft: $40,000 – $100,000
Motor Yachts
- Under 80ft: $20,000 – $25,000
- 80ft – 120ft: $35,000 – $80,000
- 120ft – 150ft: $80,000 – $150,000
- Over 150ft: $150,000 – $500,000
Factors Influencing Yacht Charter Prices
Several elements can impact the cost of a yacht charter:
The Yacht
The age, builder, previous owners, and amenities like water toys can affect pricing. Additionally, the yacht’s reputation, such as being the largest or most luxurious, or having a famous previous owner, can also influence costs.
Season
Prices are higher during peak seasons, such as summer in the Mediterranean or winter in the Caribbean, and lower during off-peak times.
Destination
Chartering in less common destinations with fewer yachts can be more expensive. Popular areas like the Caribbean or Mediterranean are usually more competitively priced.
Additional Costs to Consider
Beyond the base price and APA, other expenses must be factored into your budget:
Advance Provisioning Allowance (APA)
This allowance covers running expenses such as fuel, food, and beverages. It is typically about 35% of the base price and is settled before the charter begins. Any unused funds are refunded at the end of the charter.
Taxes and VAT
Charter costs usually exclude local taxes and VAT, which vary by destination. For example:
- The Bahamas: 4% tax + 10% VAT
- Croatia: 13% VAT
- France: 20% VAT (can be reduced to 10% if international waters are included)
- Greece: 12% VAT
- Italy: 22% VAT (reduced rates apply when international waters are included)
- Spain: 21% VAT
Insurance
Consider purchasing cancellation and curtailment insurance to cover unexpected changes to your plans.
Crew Gratuity
While not mandatory, it is customary to tip the crew 15-20% of the base charter rate if you are satisfied with their service.
Delivery Fees
If the yacht is not located in its usual cruising area, you might need to pay delivery costs, mainly fuel.
Planning Your Perfect Yacht Charter
Planning a yacht charter can be complex, but with the right information and expert assistance, it can become an enjoyable process. Our team of Charter Specialists is ready to provide tailored advice and help you navigate all the details, ensuring a memorable and hassle-free experience.
Ready to Set Sail?
Our experts are here to help you find the perfect yacht and create the ultimate charter experience. Reach out today to start planning your dream yacht vacation.
