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Old 06-01-2021, 12:13 PM   #1
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"The hidden costs of owning a (super)yacht"

https://www.cnn.com/travel/article/h...cht/index.html

Interesting application of the 10% rule of thumb, whether you love it or hate it.
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Old 06-01-2021, 12:17 PM   #2
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I am not sure how many here can relate to superyachts.
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Old 06-01-2021, 12:24 PM   #3
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"Jet owners have told me many times that the yacht expenses are cheap."

Lol. I guess this reflects my own experience, if you substitute tiny, aging, gasoline-powered examples of both species.
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Old 06-01-2021, 12:24 PM   #4
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I am not sure how many here can relate to superyachts.
With the exception of paid crew, it is all a matter of degrees.
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Old 06-01-2021, 12:29 PM   #5
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With the exception of paid crew, it is all a matter of degrees.
Not really, some of us own boats that aren't as "flashy" and if resale is ever in the picture....losing 15% on $50,000 is a bit different than losing that on $150,000,000.

Motivations in boat ownership are all over the map, but economic levels may change those a bit.
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Old 06-01-2021, 01:10 PM   #6
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‘He estimates that a 150-foot superyacht will cost around $2 million a year or roughly $200,000 a week to run.’

That is some really terrible math.
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Old 06-01-2021, 02:19 PM   #7
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I am not sure how many here can relate to superyachts.
That was my first thought as well
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Old 06-01-2021, 02:23 PM   #8
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‘He estimates that a 150-foot superyacht will cost around $2 million a year or roughly $200,000 a week to run.’

That is some really terrible math.
Not if it only is used for 10 weeks out of the year.
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Old 06-01-2021, 02:23 PM   #9
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Look at the Below Deck TV series and what people pay to charter those boats for 3 or 4 days. I read somewhere that it was in the $200,000+ range.
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Old 06-01-2021, 02:30 PM   #10
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Look at the Below Deck TV series and what people pay to charter those boats for 3 or 4 days. I read somewhere that it was in the $200,000+ range.
I do watch that show and you are probably right since they are routinely handing out a crew tip in the $15-20K range.
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Old 06-01-2021, 02:32 PM   #11
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They likely cut the costs down by shopping at Costco, clipping coupons and asking the guests to bring a 6 pack. My guess is these owners have very little clue about the annual cost and likely do not care
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Old 06-01-2021, 03:01 PM   #12
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At my Costco - and in the one in Bozeman, Montana where I routinely shopped before moving last year - you couldn't swing a cat without hitting three multi-millionaires.
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Old 06-01-2021, 03:10 PM   #13
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Multi-millionaires are not that uncommon today
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Old 06-01-2021, 03:28 PM   #14
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At my Costco - and in the one in Bozeman, Montana where I routinely shopped before moving last year - you couldn't swing a cat without hitting three multi-millionaires.
I'm the only one I know of in my local Sam's. At least that's how we seem to spending these days.
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Old 06-01-2021, 03:29 PM   #15
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No part of my recreational boating ever needs to include having to employ staff. Just... no.

I don't want all the potential drama encroaching on my fun. Nobody's sick days or other issues, no on-going payroll and other liabilities. There's really "not enough money" to buy my way into putting up with, or ignoring, all that. Some folks are wired that way, I suppose, not me.
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Old 06-01-2021, 03:44 PM   #16
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They likely cut the costs down by shopping at Costco, clipping coupons and asking the guests to bring a 6 pack. My guess is these owners have very little clue about the annual cost and likely do not care
It makes me think that as often as you see superyachts on the market, even the uberwealthy eventually feel the pain, or at least they eventually listen to the advice of their accountants.
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Old 06-01-2021, 03:47 PM   #17
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Multi-millionaires are not that uncommon today
Sure, if you define it as "more than one" I'm sure many of us would qualify.

Sorry folks, I posted the article after reflecting on the theme of the 10% R.U.T. for maintenance and upkeep that is often mentioned for our more homely (and home-y) examples. Bad math notwithstanding.
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Old 06-01-2021, 04:43 PM   #18
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Sure, if you define it as "more than one" I'm sure many of us would qualify.

Sorry folks, I posted the article after reflecting on the theme of the 10% R.U.T. for maintenance and upkeep that is often mentioned for our more homely (and home-y) examples. Bad math notwithstanding.
Is that not the definition of multi?
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Old 06-01-2021, 05:52 PM   #19
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It makes me think that as often as you see superyachts on the market, even the uberwealthy eventually feel the pain, or at least they eventually listen to the advice of their accountants.
Or it's no longer the show-off toy that 'works' for their social bragging so they move on to something else.

I vaguely recall a saying that the poor only care that they have food, the working-classes care how much the food costs, and the wealthy only care how the food is presented (looks). The same could largely be applied to housing, boats and what-have-you.
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Old 06-01-2021, 06:13 PM   #20
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Being a multi-millionaire aint what is used to be. Better aim higher unless the boat is owned and maintained by a big corporation.
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