How Much Does A Superyacht Charter Cost?
For those new to the world of yachting, the prospect of chartering a luxury superyacht is exciting—an ultimate travel experience awaits you. But the associated costs can be overwhelming. With so many moving parts, it is essential to understand the various elements that contribute to the overall price tag of chartering a superyacht.
The price depends on various factors, such as the size of the yacht, its amenities and condition, the cruising location, and availability. Our expert charter consultant can provide accurate estimations and a breakdown of all costs involved for the specific yacht you are looking to charter.
Whether you are looking for a relaxing charter in the Mediterranean, a unique vacation to celebrate a special milestone, a family-friendly yacht exploring the Caribbean, or a memorable adventure off-the-beaten track, our IYC fleet offers a wide range of options.
But it isn’t as simple as one set fee; in this comprehensive guide, we provide you with insights related to the specific costs involved with a superyacht charter:
What Is Included?
The charter rate typically includes the yacht itself, along with the professional crew to operate and maintain it. This also covers the yacht’s insurance, equipment, and other essential services.
The price of chartering a superyacht varies significantly, from €16,000 per week onboard a yacht such as the 68’11” (21m) MANU to the higher end of the spectrum from €525,000 per week to charter the 240” (73.15m) LAUREL.
What Isn’t Included?
While the rate covers the yacht and crew, there are several additional expenses to be aware of. These costs are mainly outlined in the Advanced Provisioning Allowance (APA). This APA is the amount it will cost to run in terms of expenses while on charter, for example, the food, drink, fuel, agency fees, berthing fees, transportation, etc. The yacht determines the final APA, and the Captain keeps an itemized record. This fee usually results in around 25-40% of the charter fee; any remaining funds are returned to the client at the end of the charter.
Other expenses to consider are taxes and VAT rates, depending on legislation in certain countries. At the end of a yacht charter, it is also customary to leave a crew gratuity for all crew, based on 10-20% of the charter fee. If a client requests additional extras, such as the rental of a chase boat, expert and additional crew, and any guided excursions ashore, this will also come at an extra charge.
What Influences The Fee?
Several key factors influence the price of a superyacht charter, which are essential to consider when looking for and negotiating a charter.
Seasonality: The popular periods are known as the high season. These are highly demanded weeks of the year across the board, such as the winter period in the Caribbean and the summer season in the Mediterranean. Chartering during these peak times requires more advanced planning and typically a larger budget to secure the dates. In contrast, the low season often comes with slightly lower prices. Within our entire fleet, on average, there is a 7% fluctuation in prices between the average rate of high and low season. Chartering close to these weeks, within the shoulder seasons, usually has unchanged prices due to the increasing demand for quieter periods.
Charter Duration: A yacht charter fee is usually quoted at weekly rates. If a client requires a charter yacht for more or less than seven days, the cost is calculated pro-rata against the weekly rate. During busy periods, some yachts may require a minimum 10-day charter. Most charter contracts begin at noon on the first day and terminate by noon on the last day unless otherwise agreed upon.
Location: Similar to seasons, the price may vary depending on the cruising location due to demand. Remote destinations, such as The Galapagos, Antarctica, and Indonesia, are usually more expensive as there isn’t as big of a fleet available there, and there may be additional accessibility factors to consider.
Yacht Size: Larger yachts generally mean higher prices, but yachts of the same size will also differ due to the varying onboard facilities and amenities. For example, LOON has a high season rate of $650,000 per week, priced higher than the same-sized SYCARA V at $565,000 in high season. Within our current charter fleet in the high season, yachts below 20-meters are available on average for €34,392 per week. In the mid-sized range within the 40-meter to 50-meter yachts, the weekly average is €185,143 per week, increasing up to the 60-meter to the 70-meter range at an average of €555,000 per week.
What Are The Contract Types?
When booking a charter yacht with IYC, we offer our unique ‘Reserve’ function. This allows you to select your preferred yacht and dates online, authorizing a 5% deposit on your credit card to place a priority reservation request. This deposit is a placeholder until the request is accepted, providing more flexibility and the freedom to cancel before signing a charter agreement.
Once a booking is confirmed, we provide a legally binding contract, a Charter Agreement (MYBA), specifying the exact terms and conditions of the charter. Industry professionals have defined these terms and ensure the protection of all parties involved in the charter. We recommend that all prospective clients new to chartering read the contract carefully; our consultants are on hand to discuss any part of the contract.
Upon signing, a 50% deposit of the total charter fee is required to confirm the booking, with the remaining 50%, the APA, and any other agreed charges due one month before the start of the charter.
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If you are looking to charter a superyacht for your next vacation, working with our experienced charter consultants is crucial. They can accurately estimate all costs and ensure a transparent and smooth superyacht charter experience. Contact one of our consultants today to learn more about our current yacht charter opportunities.
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