Because if you want to please your master maybe you will show him this video. lol jk, because everyone can dream and get inspired to do something big. Help 1 million people with a problem and charge them $10 each and you will have your yacht. Bill gates helped 1 billion people with the software they needed and charged them $100 thus he has his wealth.
i was a chef on a yacht for 7 years and did not encounter many of that size that did not employ a full time chef. $100K or more per year is average pay. Expenses for food were about $50K a year. Fueling the yacht depended on fuel price, $30K per fuel dock visit was average. Our yacht was busy and ran year round and we also chartered, which does offset the cost to the owner.
Did you get the yacht chef job after you reached Michelin star level of cooking or did you work your way up apprenticing under other yacht chefs? 7 years as a yacht chef. wow! Your an iron man. props
Read my post above: I owned a 30 footer and kept it at a marina just on the edge of a major canadian city. It did almost bankrupt me but let me tell you: it was worth every penny! OMG the times I had.....naked women, booze, parties, rafting parties, cruising around Lake Ontario...... I say "it was the best worst mistake I ever made and wouldn't trade it for the world".....
Absolutely wonderful video David. I owned a 35 foot Searay for about 10 years, and while there is no comparison in size, the factors scaled exactly the same, and all your rules applied. In the end, its an expense and investment that translated into quality of life, and THAT is the value proposition to evaluate. It didn't matter if i was cruising Michigan's Great Lakes, or polishing my deck in my slip, the only time i completely forgot about my business, my problems, my customers, and the stress of life, was onboard. You truly understand what your product is, and what your customers need. Wish you much success.
I can fully aggree! Skipping make the head empty from that business crap and all other problems around. It´s all about family prime time, food, weather and the sea.
My first boat was bought with the help of Ms Lyra Holt Dean. Sailing is thousands of years old and we continue this long-lasting, intriguing and at the same time dangerous tradition! Throughout history sailing has helped various civilizations to develop and prosper as people sailed accross oceans to settle in new undiscovered areas. Each time we set a sail it’s as if you could feel the same excitement, uncertainty and craving for adventure as it used to be thousands of years ago. In a way sailing is like a bridge connecting us with times long lost.
@Lewis Hamilton NO, we are just business partners. She is a financial Analyst I met in 2012 that changed my perspective about making money and spending money. We all need someone like that.
I’m 84, a retired attorney, in and out of the movie industry as a producer and executive, owner of real estate and general investments, even owned race horses (awful investment), and radio stations. I have never owned a yacht though I have sailed on a variety of them. To listen to a man who is obviously a multi-millionaire and not a publicity seeking jerk is a fabulous pleasure. I wish my clients had all been so down to earth. I've never met him, but trust me on this, the "owner" is a find. Listen to his words of wisdom. They are the equivalent of a college education!
My mini yacht cost me $1400 ten years ago. Fuel, crew, and maintenance have totaled exactly $0. I love my Hobie kayak! Mowing yards has really paid off 😋
yes, my hobie was a gateway yacht ( 16' revolution) . then i got a second (14' outland) , then a third (14' pro angler) finally an tandem island adventure sailing hobie. 4 kayaks, two trailers, and a achilles 11' inflatable with 9 horse evinrude outboard.
As a Captain with over twenty years experience on Super Yachts this is one of the best if not the best video I’ve seen that lays out honest operational cost of owning a MY. You can’t always cover the little things but you’ve done a great job describing the major costs of a vessel this size. I wish more brokers were as honest and up front as yourself as my experience has lead me to believe otherwise. Thanks you 🙏
Clear and precise information...what a breath of fresh air. Normally when I watch all these yachts for sale videos the price is NEVER discussed nor are the costs of running it. Thank you!
David, your explanation of who a yacht owner is, and your admiration for their immense sacrifice they make to convert pennies to dollars, and thousands to millions, then finally enjoy it, is spot on. I used to build multi-million dollar homes. I was honored to hear the wisdom of these entrepreneurs.
I grew up on boats. So I can understand this. There have been several times in my life where I thought about selling the house and buying a nice yacht and going sailing for a few years. There is just something relaxing about being underway.
From 09:30 I believe those are the wisest words I've ever heard about wealth and lifestyle. Thank you for being candid, I think plenty of people forget about it.
Great vlog David. Answered many of the questions I’ve had. I can see the advantages of having a yacht over a vacation home. Thanks so much for the channel
Study engineering, go to course for using yachts or sailing. Become your own crew, enjoy your cruise with your friends and friends only. And maybe on your own alone.
@@KingSalami407 so you are saying that i won't be able to cruise alone, on my own craft. We are not talking about megayachts in here if its below, a certain limit ( lets say 20-25 meters) you should be fine whether if its a sailing or motor yacht.
@@KingSalami407 depends of your background. if you have or had a career or experience as a maritime officer you probably already got all the paperwork to sail it yourself.
If you ever do a similar video to this, you might include the potential revenues, charters, etc., that might offset these costs. Great video! THANK YOU!
What I have learned a long time ago, is if you need to ask, you cannot afford. For example, if you have a powered yacht, find out what a new engine will cost. This is a reasonable expectation. Can you pay for one and have it fitted?
Thank you, great discussion. Think 10%. Like every business owner will tell you it pays to have good employees, keeping and retaining good ones is tough. Think about how restaurants treat one of the most important positions, Dishwasher (not only for clean dinnerware but pots and pans) also a good "swing person" (plate salads, prep vegetables, run for the chef), if you don't have a great dishwasher (like facility, chef, service) you are on an unsteady foundation. Pay them better than next door/down the block, and get them involved (train) in other aspects (chefs assistant). Yacht vs private jet (car, hotel...etc). Some have said a boat is just a hole in the water to throw money into.
Great video....I love yachts but fly a private jet for a living. Our annual operating budget is around $1.25M USD for a Gulfstream IV. Thats roughly 1/4th of the initial purchase price on the used market. One of my previous owners had a 130 Westport(?) and the Capt was commenting on the operating costs. I spilled the beans on what it takes to run our gal and he was floored.
vtrmcs I agree with you that boats are getting bigger and bigger. Yes times change and a 30 meter looks small but to a middle class citizen it's still a yatch.
Not really. The nightmare comes with the competitive nature of yacht owners. You can also charter out your yacht and they basically would pay the bills for you. You can throw a big party every week just on the harbour and you’d make a profit from it.
I'm in the process of moving from a 45' to a 82' and our (family) intentions are to move to a 100+' in 4 or 5 years. I found this video extremely interesting, no crew cost for a 45', definitely affordable maintenance and berth cost in Liguria. Moving form 45' to 82' all costs get multiplied from 4 to 6 times, purchase apart. Moving from 82' to around 110/120' every cost will grow x3 again. Hope I'll be able to afford in a few years in order to spend 6 months living and working on board. Thank you for this really enlightening video and the things you say, plain and simple as they are.
@@Ismail-FIRE I own a quite successful IT business in the Netherlands serving customers like the European Commission and the Federal Ministry of Finance of Belgium and several other private customers. 160+ employees and contractors and growing.
Great info. Thank you very much. It's a must see video for anyone related to yachts. (Telecom costs is another crazy feature "normal" owner try to avoid if they can) Great video. Congrats!
Thank you for making this video. An informed buyer/participant/student is more likely to do it well, and therefor more likely to make a positive contribution to the culture. That's better for everyone involved.
I came here via Nick's recommendation on Aquaholic, great presentation by you and very well done, just subscribed for your future videos, this was very informative, very transparent covering most of the points I needed information on, and very helpful, keep it up! Thanks
I can't afford to buy anything like a yacht but I do enjoy watching your videos. Well made and entertaining. It gives me a glimpse inside a Club I don't belong to.
Another great video, very nice estimation... still hidden costs for; registration, crew medical, Crew Liability Insurance, salary taxes, miscellaneous maintenance/repairs/rebuild (interior, Bow Thrusters, Stern Thruster, Anchor Stabilizers, Active Roll Stabilization, ), crew per diem and travel expenses, crew food, fuel/oil, water, Wireless Internet Card, Satellite TV, Satellite, Data Link)
If you are rich you don't have employees and pay all those associated items you mentioned. They are hired as contractors and contractors take care of those expenses on their own.
Good to see there are people who thinks alike, makes feel less mindset lonely. Tks. Almost no one analyses costs, not even for a car yearly expenses. Additionally excellent lecture of hard rock data and philosophical approach (inherent two sides of a coin). Good pace, awesome video, short and effectrive, wow.
Several years ago I had a 216" yacht. I didn't have a crew but it always needed something to be fixed or replaced. I did lots of the work myself & I enjoyed it but it was a financial burden for a relatively poor college student.
As for the fuel price: a yacht of that size at full throttle can easily burn upwards of 400-1000 litres of diesel PER HOUR. And after using up 600+ litres of diesel over one hour, you'll have moved about 35-50 km. Now the fuel consumption does goes down tremendously at cruising speeds of around 10KN (18,5km/hr), but even if you were given a yacht for free and were to sail it yourself without any crew (employ your wife and kids as slave-labourers), you'd have to be substantially well-off just to be able to fuel it and then sail along at a snail's pace. Therefore: whenever you see somebody owning a yacht, it does not matter how cheap they got it, nor whether they are using a crew or not; they HAVE to be absolutely filthy rich just to make it move.
Good morning David. Great information. You’ve actually proved the old adage “a boat is a large hole in the water that you pour money into.” Your caveats at the end are very true. It is an important purchase, possibly not an investment. If you are able to afford it, the investment in your life and that of your family is immeasurable. Buying a very large multimillion dollar house has huge costs as well, but if the purchase is important to one the cost of operation is almost immaterial. Very much looking forward to next week.
Very informative and well done. I would also love to see a video on the running costs of the really big yachts (Dilbar, Eclipse, Azzam, etc.) though I can imagine those numbers would be more speculative than anything. I just cant see how the 10% rule would apply to a yacht that costs, say $600 million. $60 million dollars a year seems a bit high. I would imagine that as you go up in size, eventually the costs start to level off around the $20m-$30m a year mark.
i think your rite the bigger the yacht the less fuel and crew you need proportional to the size and price of the ship a 100 meter 250 million dollar yacht would not have 25 times the fuel consumption or 25 times the crew of a 10 million dollar 35 meter yacht i think the percentage rule is kind of a benchmark for most yacht owner i dont think majority of yacht owner ever venture out from the 35 metter 10 million dollar size range so a million dollar for fuel crew and year round berth is not to be unexpected you can easily spend 5-10k usd on a 30k speed boat with year round usage that more then 15-30 percent of the ship value just on fuel storage and maintenance the smaller the ship the higher proportional cost to the value of the ship is used to run it
What about fuel estimates for tootling around the Med or the Caribbean for the whole season? That has to be a significant part of the overall operating cost.
Take the horsepower and move the decimal over one place. A 100 HP engine burns 10 gallons per hour at full throttle. Assume the yacht cruises at half throttle for economy, cut the number in half. Many yachts list their fuel capacity and range.
Don't forget internet, provisions, soft goods, and exterior hull items like ropes and lines, gel coat, miscellaneous repair items, maybe a new dome for radar, radio equipment and charts, tender costs as well. It's death by a thousand cuts in some cases,especially an older yacht. But the advantage of an older yacht is it teaches you things and if you mess up on it, it's not as bad as a new build you waited 2 years for.
I work on the smaller cruisers in 30-50 ft. I am envious of those engine compartments of the Yachts you talk about. I spend my time upside down in a hole that is half the size of my body. And then they complain about the cost, lol. It is a luxury, it costs money, learn to DIY, lol. Great video
Good advice always :) I've done restoration and rebuild work on small-to-medium sized GRP river cruisers here in the UK, so I can fully sympathise with you in respect of the impossibly cramped working conditions :)
👍Good realistic numbers. Thank you. 💝 🤔Looking at all of these very expensive open uncovered marinas, I’m grateful to have my covered boat slip / berth. All of the boat slips / berths are covered at my marina. 😃
My uncle built his boat. 110ft and he and my aunt lived on it for 25 years. Never hired anyone to do anything. But I guess that's the benefit of being an engineer and lots of hard work.
Great video, you hit the nail on the head, owning & importantly using your yacht is about happiness and reward. Yes, some buy to say I have made it in life but to me at least thats a little sad. The breakdown of prices are great although a good captains wage do change greatly when you own a considerably larger yacht. Also a good captain will know the great places to suggest you may like to visit which is an invaluable asset. As you say the staff make the yacht, treat them well and with respect and they will reward you and your guests and add to the experience of yacht ownership. Also if you want to be able to use your yacht any time of the year you may get the opportunity to keep the same crew who you will get to know which also improves ones experience. Yes a yacht is a big commitment know matter what the net worth of the individual may be but using the correct agencies and broker can keep ownership costs down as like anything else in life some people are in it just for the money. Really enjoy your videos and can't think of another broker who would make such an honest ownership breakdown of costs.
What you do for fun defines your economic status. Pick a number: 1) Poverty Level Poor - Wait until someone turns on the fire hydrant, then jump in with a $1 blow-up ball from Walmart. 2) Working Poor - Blow up boat or dingy then go fishing. 3) Working Class - Rent a row boat and share the cost with a friend. 4) Middle Class - Rent a Jet Ski, Wave Runner or speed boat. 5) Upper Middle Class - Buy a power boat or a sail boat and drive/sail it yourself. 6) Wealthy - Buy a large boat with multiple levels and drive it yourself. 7) Rich - Get a medium size yacht with a few crew members and a captain to drive you around. 8) Filthy Rich - Get a large yacht with crew, chef and captain and sail around the world until you don't know what fuckin day it is.
Years ago, well before the advent of GPS, I went to Coast Navigation School to learn celestial and coastwise navigation because I simply wanted to be an indispensable part of the crew, but definitely not Captain. That way I could be on the boat at any time without ownership responsibilities and, hey, who's going to throw off the navigator?
great Video, thank you..if you run out of topics and you re in the mood, it would be nice if you could make a similar video about smaller yachts..lets say 50 to 86 foot, owner operated and if you could give advice from which size on crew is mandatory...i wonder if a 80 foot yacht can still be owner operated if you have the technical skills to do all the minor services on your own and willing to do this and the cleaning and cooking etc etc all by yourself or with your family
montoyafan11 You kidding right ? Run 80 footer on its own ? "to do all minor services “ 😂😂😂😂 and after you would done with all minor services you would hang out with the rest of yachting owners to discussing how to cheaply replace oil filters and clean holding tank by yourself 😂😂🤨👍👍
Its not as uncommon as you'd think in the sub 100ft range, although diy maintenance is pushing it. My old boss had a 87 Hatteras sport fisherman that he would run without paid crew. He had a fulltime captain and 1st mate/ engineer (my job). But there were times when he'd run the boat with friends and family. He owned a massive construction co and built it from the ground up and had no problem getting his hands dirty. I even watched him grab a broom to help sweep on a high rise they were building. But I digress,most of the bigger owner operated yachts will tend to be the older 60-80ft boats and they usually stay close to home or in the slips though.
well you can run a 50-60 foot yacht just with friends and family...operiating i mean...and when you can afford a yacht you can get the repairs done by someone else...thats what i meant...you dont NEED a hired crew to sail it....
thats what i mean....i know owners who go boating because they DONT want to be surrounded by employees when they do because they are every day ..and when they want to go on the water they dont want to share a small space with employees on vacation
Fascinating video David, thank you. I love the deckplan of the yacht on the wall behind you. What is she called?? Also, please tell me you're doing something with Vertige soon!!!! Good luck and all the best. Great channel!
So many variables to consider. One can easily exect to spend 10-20% of the boats cost annually, not including payments. My 34’ power boat was a minimum of $10k/year…slip, store, ins, fuel, maintenance, etc. a few years ago the cost was $30k due to maintenance needs. Boats are a blast to own, just expensive.
Fuel costs of course, but highly variable. As an employer I've learned to always pay staff well and to give good employment benefits, including career progression training. Their side of this bargain is that if they don't perform well or don't show honesty and loyalty, they are out of the door.
500k is a big understatement perhaps fixed costs only - with running costs add another 500k - 10% of the new price is accurate but for an older/cheaper boat account expect 15-20% or more. Lots of small or not-so-small expenses on everything from upholdstery to the windlass, from the chartplotters to water toys.
Very informative. I'd imagine that a majority of yacht owners pay others to manage the hiring of the crew and coordinate all of the maintenance and servicing of their yacht, handling insurance and legal aspects of yacht ownership. I wouldn't know how to do all that is required, so seeking help by a firm that can handle all of the aspects you discuss in your video would be the best approach for me. Is Northrop&Johnson such a firm that provides "one stop-shopping"" for yacht management services? If not, who are the industry leaders?
One can simply charter for two weeks or so ($100K-$500K) a few times per year. Leave the headaches to others. Split the fee with five other couples and it becomes very affordable. Yachting is great fun when done right. Had a blast last time out.
I see your point; however, I've never met a wealthy person who didn't want to know the cost, negotiate the cost, and find ways to offset the cost. But yes, as a general rule of thumb if your first thought is cost over quality, then yes you probably cannot afford it, lol:P
@@mpc007 The saying has nothing to do with wanting to know the cost. If for no other reason you have to know how much to write the checks for. The emphasis is not on asking the price, it is on HAVING TO ask the price.
Very informative video, thanks for this, I am sure that many people dream of owning a "boat" but when it comes to 100ft plus the expences can rocket, this video explains in the easiest of terms the basics of yacht ownership and is a great guide to the experience, so very well done.
Tim if you rent one for a couple months your spending millions, You do that every year for a few years and eventually it’ would have been cheaper to buy one.
Unless I missed it, I think you left off the big one? Fuel Costs! I saw a video on a megayacht where they said it cost 120K to fill it up, which may only last for a week or two, depending on travel range.
I have to agree with him, If you can afford this type of luxury then do it. Other people obviously make a living by building there Yachts and from the video, make a living keeping it going. If you have the money, then spend it, enjoy it, and employ others while doing so. Being on a Yacht would def help you to relax, and not be under the microscope of others.
My dad worked on yachts (sail) as a deckhand post WW2, he worked for some big names in American capitalism of the day. He loved it. I went to sea as a merchant marine officer. I would make a horrible yacht captain, although I was licensed to captain vessels up to 1600 tons (US)/3000 tons (international) when I was active. It's a different mindset when your cargo is 1/2 a million barrels of crude or 2000+ containers than when its a human, especially a human expecting significant luxury and service.
If you have a boat up to 15 m (50 ft) it’s affordable for the ‘middle class’ atleast in my country. I have a friend who owns a 50 ft and it costs him 10-12k yearly
Money is relative.
The more money you have
the more relatives seem to know you.
👍😂 Very very true
😂😂😂😂😂😂😂
the rich relative i wish i had
a lot of "relatives" I had I didn't bother to invite to my wedding.
🤣🤣🤣
Rule of the three Fs: If it flies, floats or f*cks, it's always cheaper to rent.
Gplus sucks big as mad as this comment was it made me laugh.
LOL
Now that's fucking funny
got it!
I'll go ahead with the purchase of a Ferrari
😂 wisdom
I take the bus. Why am I watching this video?
Because you may not one day.
dreams can become a reality
You have a bus? How much for the crew?
Same here
Because if you want to please your master maybe you will show him this video. lol jk, because everyone can dream and get inspired to do something big. Help 1 million people with a problem and charge them $10 each and you will have your yacht. Bill gates helped 1 billion people with the software they needed and charged them $100 thus he has his wealth.
i was a chef on a yacht for 7 years and did not encounter many of that size that did not employ a full time chef. $100K or more per year is average pay. Expenses for food were about $50K a year. Fueling the yacht depended on fuel price, $30K per fuel dock visit was average. Our yacht was busy and ran year round and we also chartered, which does offset the cost to the owner.
Yeah, if you want to see painful fuel costs, look into fueling a 350' ice-classed research ship that has a fuel capacity of 1000+ tons.
Lucky bugger 😁👍
Did you get the yacht chef job after you reached Michelin star level of cooking or did you work your way up apprenticing under other yacht chefs? 7 years as a yacht chef.
wow!
Your an iron man. props
Cheap boat
I worked on one with a nuclear reactor, try filling that up every 7 years. 🤣🤣
I wen't bankrupt just watching this video. Guess I'll go file in the morning.
sometimesifly_ 😂
Right with you bro.😂😂
Read my post above: I owned a 30 footer and kept it at a marina just on the edge of a major canadian city. It did almost bankrupt me but let me tell you: it was worth every penny! OMG the times I had.....naked women, booze, parties, rafting parties, cruising around Lake Ontario......
I say "it was the best worst mistake I ever made and wouldn't trade it for the world".....
Rofl...
What is a boat? A hole in the water that sucks in money.
Absolutely wonderful video David. I owned a 35 foot Searay for about 10 years, and while there is no comparison in size, the factors scaled exactly the same, and all your rules applied. In the end, its an expense and investment that translated into quality of life, and THAT is the value proposition to evaluate. It didn't matter if i was cruising Michigan's Great Lakes, or polishing my deck in my slip, the only time i completely forgot about my business, my problems, my customers, and the stress of life, was onboard. You truly understand what your product is, and what your customers need. Wish you much success.
I can fully aggree! Skipping make the head empty from that business crap and all other problems around. It´s all about family prime time, food, weather and the sea.
My first boat was bought with the help of Ms Lyra Holt Dean. Sailing is thousands of years old and we continue this long-lasting, intriguing and at the same time dangerous tradition! Throughout history sailing has helped various civilizations to develop and prosper as people sailed accross oceans to settle in new undiscovered areas. Each time we set a sail it’s as if you could feel the same excitement, uncertainty and craving for adventure as it used to be thousands of years ago. In a way sailing is like a bridge connecting us with times long lost.
@Lewis Hamilton NO, we are just business partners. She is a financial Analyst I met in 2012 that changed my perspective about making money and spending money. We all need someone like that.
i am sure you would do a lot of boat riding or rather sailing this summer.
@Lewis Hamilton I dont think its allowed to drop email address her. If you wish to reach out to her search her name online and you will find her
I’m 84, a retired attorney, in and out of the movie industry as a producer and executive, owner of real estate and general investments, even owned race horses (awful investment), and radio stations. I have never owned a yacht though I have sailed on a variety of them. To listen to a man who is obviously a multi-millionaire and not a publicity seeking jerk is a fabulous pleasure. I wish my clients had all been so down to earth. I've never met him, but trust me on this, the "owner" is a find. Listen to his words of wisdom. They are the equivalent of a college education!
@Lewis Hamilton yes it is
My mini yacht cost me $1400 ten years ago. Fuel, crew, and maintenance have totaled exactly $0. I love my Hobie kayak! Mowing yards has really paid off 😋
yes, my hobie was a gateway yacht ( 16' revolution) . then i got a second (14' outland) , then a third (14' pro angler) finally an tandem island adventure sailing hobie. 4 kayaks, two trailers, and a achilles 11' inflatable with 9 horse evinrude outboard.
opichocal Now that really is funny! 😂
@@chokedup53 *Finkenbiner Charter Services, LLC?!?^
@Risky Business Hobie Lawn Care.....................
good health as a bonus
Running a yacht is like running a small company that will never make a profit. The bigger the yacht, the bigger the company.
Wouldn't it be better to just have a bonfire that's fueled with $100 bills?
You can use it as a pirate ship.
Rent your yacht and you will make a lot of money
@@lachlancrestani676 You will almost certainly not make a lot of money. At best, you'll hopefully break even.
Wrong! Why?
As a Captain with over twenty years experience on Super Yachts this is one of the best if not the best video I’ve seen that lays out honest operational cost of owning a MY. You can’t always cover the little things but you’ve done a great job describing the major costs of a vessel this size. I wish more brokers were as honest and up front as yourself as my experience has lead me to believe otherwise. Thanks you 🙏
Thanks so much - it means a lot to hear that from an experienced Captain.
Clear and precise information...what a breath of fresh air. Normally when I watch all these yachts for sale videos the price is NEVER discussed nor are the costs of running it. Thank you!
David, your explanation of who a yacht owner is, and your admiration for their immense sacrifice they make to convert pennies to dollars, and thousands to millions, then finally enjoy it, is spot on. I used to build multi-million dollar homes. I was honored to hear the wisdom of these entrepreneurs.
Why am I here? I can barely afford to run myself! Or, my car for that matter!
Yes! That was a bit of play on words...
didnt you listen? you cant afford to not buy a yacht! Its the only retreat from the stressful castle-live
niee to daydream tho Eh?
Then reprogram your life. If you want to.
I can't even afford the dream, nevermind the boat!
Dreams are free
I grew up on boats. So I can understand this. There have been several times in my life where I thought about selling the house and buying a nice yacht and going sailing for a few years. There is just something relaxing about being underway.
I had a speed boat for a while I used it on the river was very cheap to run just a few AA batteries and a 9volt battery for the receiver 😂😂😂
Gosh, your are an excellent presenter. Well spoken and easy to understand, animated (in the right way) and knowledge about your subject. Thank you.
when you have a yach you have 2 moments of joy:
1 when you buy it
2 when you sell it
shut up
This tired cliche is totally wrong.
how many yachts have you owned my friend? lol
I've been looking forward to this video for weeks, and you did not disappoint! Thank you so much!
I was figuring 1.5 million per year including fuel. Using your examples I see I'm not far off. Thank you for your dedication Sir!
From 09:30 I believe those are the wisest words I've ever heard about wealth and lifestyle. Thank you for being candid, I think plenty of people forget about it.
Great vlog David. Answered many of the questions I’ve had. I can see the advantages of having a yacht over a vacation home. Thanks so much for the channel
Study engineering, go to course for using yachts or sailing. Become your own crew, enjoy your cruise with your friends and friends only. And maybe on your own alone.
Nope. You need a paid crew or you won't be moving the boat off the dock.
@@KingSalami407 so you are saying that i won't be able to cruise alone, on my own craft.
We are not talking about megayachts in here if its below, a certain limit ( lets say 20-25 meters) you should be fine whether if its a sailing or motor yacht.
@Daver G what kind of yacht do you run?
@@KingSalami407 depends of your background. if you have or had a career or experience as a maritime officer you probably already got all the paperwork to sail it yourself.
If you ever do a similar video to this, you might include the potential revenues, charters, etc., that might offset these costs. Great video! THANK YOU!
Good idea mate!
I third that.
Yes u can recoup a big piece when you sell or a guy bought a spec boat for 2 mil. Sold it couple months later at the boat show for 3.5 mil.
What I have learned a long time ago, is if you need to ask, you cannot afford. For example, if you have a powered yacht, find out what a new engine will cost. This is a reasonable expectation. Can you pay for one and have it fitted?
Nicely done and answered many questions I’m sure many others have had apart from me, thank you,
Thank you, great discussion. Think 10%. Like every business owner will tell you it pays to have good employees, keeping and retaining good ones is tough. Think about how restaurants treat one of the most important positions, Dishwasher (not only for clean dinnerware but pots and pans) also a good "swing person" (plate salads, prep vegetables, run for the chef), if you don't have a great dishwasher (like facility, chef, service) you are on an unsteady foundation. Pay them better than next door/down the block, and get them involved (train) in other aspects (chefs assistant). Yacht vs private jet (car, hotel...etc). Some have said a boat is just a hole in the water to throw money into.
Despite the negativity, I love this logic of Yacht ownership. The peace of mind paid today, fuels next years increase in value, well, next quarter.
Great video....I love yachts but fly a private jet for a living. Our annual operating budget is around $1.25M USD for a Gulfstream IV. Thats roughly 1/4th of the initial purchase price on the used market. One of my previous owners had a 130 Westport(?) and the Capt was commenting on the operating costs. I spilled the beans on what it takes to run our gal and he was floored.
In other words, an absolute nightmare
that's a losers mentality
An absolute nightmare for a middle class citizen. For a multimillionaire businessman it's just one of the luxuries he gets to enjoy.
vtrmcs I agree with you that boats are getting bigger and bigger. Yes times change and a 30 meter looks small but to a middle class citizen it's still a yatch.
if you have it rented, you'll swim in bucks.
Not really. The nightmare comes with the competitive nature of yacht owners. You can also charter out your yacht and they basically would pay the bills for you. You can throw a big party every week just on the harbour and you’d make a profit from it.
I want to buy a yacht from him just from his presentation, good one mate. Once my pecuniary disposition matches my desire, we shall talk!!
I'm in the process of moving from a 45' to a 82' and our (family) intentions are to move to a 100+' in 4 or 5 years. I found this video extremely interesting, no crew cost for a 45', definitely affordable maintenance and berth cost in Liguria. Moving form 45' to 82' all costs get multiplied from 4 to 6 times, purchase apart. Moving from 82' to around 110/120' every cost will grow x3 again. Hope I'll be able to afford in a few years in order to spend 6 months living and working on board. Thank you for this really enlightening video and the things you say, plain and simple as they are.
Hope you don't me asking but what do you do for a living to be able to afford such luxuries?
@@Ismail-FIRE I own a quite successful IT business in the Netherlands serving customers like the European Commission and the Federal Ministry of Finance of Belgium and several other private customers. 160+ employees and contractors and growing.
Great info. Thank you very much.
It's a must see video for anyone related to yachts.
(Telecom costs is another crazy feature "normal" owner try to avoid if they can)
Great video.
Congrats!
Thank you for making this video. An informed buyer/participant/student is more likely to do it well, and therefor more likely to make a positive contribution to the culture. That's better for everyone involved.
I came here via Nick's recommendation on Aquaholic, great presentation by you and very well done, just subscribed for your future videos, this was very informative, very transparent covering most of the points I needed information on, and very helpful, keep it up! Thanks
I thank you so much for making this video. You truly help me understand the upkeep of a yacht
I can't afford to buy anything like a yacht but I do enjoy watching your videos. Well made and entertaining. It gives me a glimpse inside a Club I don't belong to.
Another great video, very nice estimation... still hidden costs for; registration, crew medical, Crew Liability Insurance, salary taxes, miscellaneous maintenance/repairs/rebuild (interior, Bow Thrusters, Stern Thruster, Anchor Stabilizers, Active Roll Stabilization, ), crew per diem and travel expenses, crew food, fuel/oil, water, Wireless Internet Card, Satellite TV, Satellite, Data Link)
beer. don't forget beer
Sorry I also forgot the price of female companion. That could be more costly that the yacht itself and all the operating expenses.
peanuts for the beers
If you are rich you don't have employees and pay all those associated items you mentioned. They are hired as contractors and contractors take care of those expenses on their own.
So actually wouldn't 10% of the price of the yacht be a good figure? So figure 1 million a year on a 10 million dollar yacht?
at about 9-10 mins in you just gave the BEST sales pitch anyone has ever heard!!!!!!!!!!!! you know your proud of that one
So I was watching how to replace fuel tank on a toyota camry, How did I end up here?
This boat also uses fuel to power
LMAO!
Good to see there are people who thinks alike, makes feel less mindset lonely. Tks. Almost no one analyses costs, not even for a car yearly expenses. Additionally excellent lecture of hard rock data and philosophical approach (inherent two sides of a coin). Good pace, awesome video, short and effectrive, wow.
Several years ago I had a 216" yacht. I didn't have a crew but it always needed something to be fixed or replaced. I did lots of the work myself & I enjoyed it but it was a financial burden for a relatively poor college student.
Made me smile :)
You speak amazingly well. Very few people can come across as good as this in a TH-cam video. Very impressive.
While I collect point on my bonus card from local super market....
As for the fuel price: a yacht of that size at full throttle can easily burn upwards of 400-1000 litres of diesel PER HOUR. And after using up 600+ litres of diesel over one hour, you'll have moved about 35-50 km. Now the fuel consumption does goes down tremendously at cruising speeds of around 10KN (18,5km/hr), but even if you were given a yacht for free and were to sail it yourself without any crew (employ your wife and kids as slave-labourers), you'd have to be substantially well-off just to be able to fuel it and then sail along at a snail's pace. Therefore: whenever you see somebody owning a yacht, it does not matter how cheap they got it, nor whether they are using a crew or not; they HAVE to be absolutely filthy rich just to make it move.
Finally somene who understands motoryachts! :D A dinner date for $20k fuel isn't uncommon in a 30-40m fast motor boat!
When you have that kind of money you may as well spend it. You have one life and you can't take your money with you when it is over.
Good morning David. Great information. You’ve actually proved the old adage “a boat is a large hole in the water that you pour money into.” Your caveats at the end are very true. It is an important purchase, possibly not an investment. If you are able to afford it, the investment in your life and that of your family is immeasurable. Buying a very large multimillion dollar house has huge costs as well, but if the purchase is important to one the cost of operation is almost immaterial. Very much looking forward to next week.
Another great video, loved hearing about actual numbers and getting a feel for what it may cost to run a yacht of this size!
Wow, that was a very good, comprehensive presentation. You sound genuinely excited, sincere, and well versed in this subject. 2 thumbs up
Nice to see you more casual. I'd love to have a drink with you, on a yacht of course. 😂
Frankly I was expecting at least double. Thanks for breaking this down.
Very informative and well done. I would also love to see a video on the running costs of the really big yachts (Dilbar, Eclipse, Azzam, etc.) though I can imagine those numbers would be more speculative than anything. I just cant see how the 10% rule would apply to a yacht that costs, say $600 million. $60 million dollars a year seems a bit high. I would imagine that as you go up in size, eventually the costs start to level off around the $20m-$30m a year mark.
i think your rite the bigger the yacht the less fuel and crew you need proportional to the size and price of the ship a 100 meter 250 million dollar yacht would not have 25 times the fuel consumption or 25 times the crew of a 10 million dollar 35 meter yacht i think the percentage rule is kind of a benchmark for most yacht owner i dont think majority of yacht owner ever venture out from the 35 metter 10 million dollar size range so a million dollar for fuel crew and year round berth is not to be unexpected you can easily spend 5-10k usd on a 30k speed boat with year round usage that more then 15-30 percent of the ship value just on fuel storage and maintenance the smaller the ship the higher proportional cost to the value of the ship is used to run it
What about fuel estimates for tootling around the Med or the Caribbean for the whole season? That has to be a significant part of the overall operating cost.
I feel like fuel cost would be mentioned.... but cool video like the ending with the happiness speech
I was curious on that as well.
We burn around 1000gals a week doing light cruising around the Bahamas on a 104ft yacht. Diesel is around $4 a gal.
Take the horsepower and move the decimal over one place. A 100 HP engine burns 10 gallons per hour at full throttle. Assume the yacht cruises at half throttle for economy, cut the number in half. Many yachts list their fuel capacity and range.
Very nice that you are saying you opinion and you are saying the truth, i see that is truth in your eyes))
This is why most successful people are happy with extravagant cars and holidays instead! Having said that, living on boats full time is my dream.
Don't forget internet, provisions, soft goods, and exterior hull items like ropes and lines, gel coat, miscellaneous repair items, maybe a new dome for radar, radio equipment and charts, tender costs as well. It's death by a thousand cuts in some cases,especially an older yacht. But the advantage of an older yacht is it teaches you things and if you mess up on it, it's not as bad as a new build you waited 2 years for.
I have heard that high security yachts, costs 5% annually, as well.
I work on the smaller cruisers in 30-50 ft. I am envious of those engine compartments of the Yachts you talk about. I spend my time upside down in a hole that is half the size of my body. And then they complain about the cost, lol. It is a luxury, it costs money, learn to DIY, lol. Great video
Good advice always :)
I've done restoration and rebuild work on small-to-medium sized GRP river cruisers here in the UK, so I can fully sympathise with you in respect of the impossibly cramped working conditions :)
As always, a very informative video. Great job, David.
👍Good realistic numbers. Thank you. 💝
🤔Looking at all of these very expensive open uncovered marinas, I’m grateful to have my covered boat slip / berth. All of the boat slips / berths are covered at my marina. 😃
This is awesome info! Thank you for putting this together!
My uncle built his boat. 110ft and he and my aunt lived on it for 25 years. Never hired anyone to do anything. But I guess that's the benefit of being an engineer and lots of hard work.
Thank you for your honest and informative presentation. I throughly enjoyed watching.👍👍
Your vids are super top notch bro. Can't wait to see your business grow and one day you'll make vlog videos from your own yacht!
Great video, you hit the nail on the head, owning & importantly using your yacht is about happiness and reward. Yes, some buy to say I have made it in life but to me at least thats a little sad. The breakdown of prices are great although a good captains wage do change greatly when you own a considerably larger yacht. Also a good captain will know the great places to suggest you may like to visit which is an invaluable asset. As you say the staff make the yacht, treat them well and with respect and they will reward you and your guests and add to the experience of yacht ownership. Also if you want to be able to use your yacht any time of the year you may get the opportunity to keep the same crew who you will get to know which also improves ones experience. Yes a yacht is a big commitment know matter what the net worth of the individual may be but using the correct agencies and broker can keep ownership costs down as like anything else in life some people are in it just for the money. Really enjoy your videos and can't think of another broker who would make such an honest ownership breakdown of costs.
One of your most helpful videos and one of the most helpful yacht videos ever.
Thank you so much for answering so many questions we have.
What you do for fun defines your economic status. Pick a number:
1) Poverty Level Poor - Wait until someone turns on the fire hydrant, then jump in with a $1 blow-up ball from Walmart.
2) Working Poor - Blow up boat or dingy then go fishing.
3) Working Class - Rent a row boat and share the cost with a friend.
4) Middle Class - Rent a Jet Ski, Wave Runner or speed boat.
5) Upper Middle Class - Buy a power boat or a sail boat and drive/sail it yourself.
6) Wealthy - Buy a large boat with multiple levels and drive it yourself.
7) Rich - Get a medium size yacht with a few crew members and a captain to drive you around.
8) Filthy Rich - Get a large yacht with crew, chef and captain and sail around the world until you don't know what fuckin day it is.
4
@@bigsnugga You rock, you will be 5 soon.
This was actually very informative! Thank you, now I'm off to go be a crew member!
I'll postpone the Sunseaker 131 until next year, let those funds grow a little more I think...
Years ago, well before the advent of GPS, I went to Coast Navigation School to learn celestial and coastwise navigation because I simply wanted to be an indispensable part of the crew, but definitely not Captain. That way I could be on the boat at any time without ownership responsibilities and, hey, who's going to throw off the navigator?
great Video, thank you..if you run out of topics and you re in the mood, it would be nice if you could make a similar video about smaller yachts..lets say 50 to 86 foot, owner operated and if you could give advice from which size on crew is mandatory...i wonder if a 80 foot yacht can still be owner operated if you have the technical skills to do all the minor services on your own and willing to do this and the cleaning and cooking etc etc all by yourself or with your family
montoyafan11 You kidding right ? Run 80 footer on its own ? "to do all minor services “ 😂😂😂😂 and after you would done with all minor services you would hang out with the rest of yachting owners to discussing how to cheaply replace oil filters and clean holding tank by yourself 😂😂🤨👍👍
Its not as uncommon as you'd think in the sub 100ft range, although diy maintenance is pushing it. My old boss had a 87 Hatteras sport fisherman that he would run without paid crew. He had a fulltime captain and 1st mate/ engineer (my job). But there were times when he'd run the boat with friends and family. He owned a massive construction co and built it from the ground up and had no problem getting his hands dirty. I even watched him grab a broom to help sweep on a high rise they were building. But I digress,most of the bigger owner operated yachts will tend to be the older 60-80ft boats and they usually stay close to home or in the slips though.
well you can run a 50-60 foot yacht just with friends and family...operiating i mean...and when you can afford a yacht you can get the repairs done by someone else...thats what i meant...you dont NEED a hired crew to sail it....
thats what i mean....i know owners who go boating because they DONT want to be surrounded by employees when they do because they are every day ..and when they want to go on the water they dont want to share a small space with employees on vacation
Was always very curious about the ongoing costs. THANKS.
Love your videos!! Very profesional and very informative
Well done and well said. very instructive, clear and honest. Congratulations !
Fascinating video David, thank you. I love the deckplan of the yacht on the wall behind you. What is she called?? Also, please tell me you're doing something with Vertige soon!!!! Good luck and all the best. Great channel!
So many variables to consider. One can easily exect to spend 10-20% of the boats cost annually, not including payments. My 34’ power boat was a minimum of $10k/year…slip, store, ins, fuel, maintenance, etc. a few years ago the cost was $30k due to maintenance needs. Boats are a blast to own, just expensive.
Fuel costs of course, but highly variable. As an employer I've learned to always pay staff well and to give good employment benefits, including career progression training. Their side of this bargain is that if they don't perform well or don't show honesty and loyalty, they are out of the door.
500k is a big understatement perhaps fixed costs only - with running costs add another 500k - 10% of the new price is accurate but for an older/cheaper boat account expect 15-20% or more. Lots of small or not-so-small expenses on everything from upholdstery to the windlass, from the chartplotters to water toys.
Very informative. I'd imagine that a majority of yacht owners pay others to manage the hiring of the crew and coordinate all of the maintenance and servicing of their yacht, handling insurance and legal aspects of yacht ownership. I wouldn't know how to do all that is required, so seeking help by a firm that can handle all of the aspects you discuss in your video would be the best approach for me. Is Northrop&Johnson such a firm that provides "one stop-shopping"" for yacht management services? If not, who are the industry leaders?
One can simply charter for two weeks or so ($100K-$500K) a few times per year. Leave the headaches to others. Split the fee with five other couples and it becomes very affordable. Yachting is great fun when done right. Had a blast last time out.
My grandfather said if you have to ask you can’t afford it
THE REAL KING FRANCES partly right
Disagreed. There are many things I can and do afford but still really want to know the cost of.
I see your point; however, I've never met a wealthy person who didn't want to know the cost, negotiate the cost, and find ways to offset the cost. But yes, as a general rule of thumb if your first thought is cost over quality, then yes you probably cannot afford it, lol:P
@@mpc007 The saying has nothing to do with wanting to know the cost. If for no other reason you have to know how much to write the checks for. The emphasis is not on asking the price, it is on HAVING TO ask the price.
Then your grandfather was an idiot
This video really helped me with my decision to purchase the Ocean Alexander 90r, Thanks!!
Great informative video David.....thank-you.
Fantastic video...
You certainly know what
You talking about...
When the time is right
I know who to visit...
What about fuel costs? For the average yachter and fair prices/litter
Very informative video, thanks for this, I am sure that many people dream of owning a "boat" but when it comes to 100ft plus the expences can rocket, this video explains in the easiest of terms the basics of yacht ownership and is a great guide to the experience, so very well done.
Thank you, 🙏 that’s a very informative video.
Excellent video! love the graphics!
If it flys, floats or f**ks. Rent it 😉
it costs about 500k a week to rent a superyacht (not including fuel or crew)
Tim if you rent one for a couple months your spending millions,
You do that every year for a few years and eventually it’ would have been cheaper to buy one.
Unless I missed it, I think you left off the big one? Fuel Costs!
I saw a video on a megayacht where they said it cost 120K to fill it up, which may only last for a week or two, depending on travel range.
Generators serviced every 100 hrs? That’s every four days at sea, he must have misspoke.
1000 hours maybe? about 42 days...
I have to agree with him, If you can afford this type of luxury then do it. Other people obviously make a living by building there Yachts and from the video, make a living keeping it going. If you have the money, then spend it, enjoy it, and employ others while doing so.
Being on a Yacht would def help you to relax, and not be under the microscope of others.
That was very interesting. Although I'm not sure why TH-cam recommended it? Unless it knows something about my future that I don't!
We can hope, right?
Great straight forward no BS info, thanks.
My dad worked on yachts (sail) as a deckhand post WW2, he worked for some big names in American capitalism of the day. He loved it. I went to sea as a merchant marine officer. I would make a horrible yacht captain, although I was licensed to captain vessels up to 1600 tons (US)/3000 tons (international) when I was active. It's a different mindset when your cargo is 1/2 a million barrels of crude or 2000+ containers than when its a human, especially a human expecting significant luxury and service.
I just bought inflatable raft ,running cost quite low,worked hard all my life ,so i took the portion of my wealth and i never looked back...
I have a yacht but it comes with a handheld remote control
If you have a boat up to 15 m (50 ft) it’s affordable for the ‘middle class’ atleast in my country. I have a friend who owns a 50 ft and it costs him 10-12k yearly
Thanks for the video, very informative. I guess I should get back to cutting out coupons for ramen noodles now...
Please send link David. Thanks for the wonderful content
Eek! I forgot to put the link to my blog in the description. Thanks for reminding me...I've added it now - it's yachtsforsalechannel.com/blogs/