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Help in choosing sub-85 foot yacht

Discussion in 'General Yachting Discussion' started by olivier, Sep 4, 2010.

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  1. olivier, Sep 4, 2010
    #1
    olivier

    olivier New Member

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    Hey everyone!

    My first post here.. looks like a great forum and very friendly people!
    I'm 30 years old and an internet entrepreneur. I've done pretty well and put my residence in monaco. Over this summer I've spent my first time on a yacht with a friend.. and I totally fell in love with it! Now I'm looking to buy/charter my first yacht. I'll tell you how much money I have to spare on it. On a monthly basis I'm willing to give a max of 5k / month, and as a purchase price a maximum of 500k. I'm a complete newbie when it comes to these things, so I don't know if 5k/month budget is enough to properly maintain a boat that size. These prices are also my 'maximum' (money I can comfortably lay aside). On top of that, I want to start using the boat at the french riviera, during summer. I'm not sure yet about the options in winter. Maybe cruise the norther parts of europe, it might have its charms. However I might find out I don't like that, and then I'm just stuck with a boat for summers only.
    You might think chartering is an option, but from what I've seen it costs like 30-40k a week? Maybe there are cheaper boats to charter? But at that price I might as well buy one. Let me tell you what I would consider my 'dream boat' right now. I'm not sure if my budget can get something like that, so I will just list the things I'm looking for in order of priority.

    - Low maintenance
    - Easy to operate
    - Ability to go out on your own without crew (maybe start off with 1 captain to learn you the tricks)
    - Family/friends should be able to stay and enjoy it too
    - At least 3 bedrooms (2 double beds, 1 with 2 seperate beds)
    - Motor yacht (no experience with sailing yet, nor do I want any hassle)
    - A nice place to sit on top of the boat, preferrably with areas for shade
    and chairs, or to lie down. I think the top of the boat is where we will spend
    the most time
    - A barbeque on top of the boat and a place to eat.
    - A small jacuzzi would be awesome! (but that might induce a lot of extra maintenance and increase the cost of the boat a lot? so its optional)
    - A nice place to sit at the back of the boat when you are lying on shore, so you can easily invite other people to sit with you there without them having to come inside.
    - A shower or preferrably a bath inside the boat
    - Ability to live there for several weeks at a time
    - Ability to go island hopping, lie next to amazing beaches that noone can visit
    - Store a small boat to go ashore with etc

    I love a boat that radiates some quality, and looks like a million bucks but costs a lot less. I'm also interested in buying a boat that (somewhat) holds its value overtime and/or can easily be sold afterwards. Additionaly I really love 'lights'. So if it has some nice lights on board or around in the water itself, that's also a great thing! For the interior I don't want anything that looks like a wooden old vessel from 500 years ago. I prefer modern quality looks with lcd tv's etc. Also I'm looking to have some parties and stuff on board and really enjoy the life, get girls, ... not sure what the best boat is for that :)

    Thanks in advance for your advice, and if you can find a 100k boat with the above it's also good (but I guess that's unlikely?). Max I wonna spend is 500k and 5k/month.

    Gracias :)
  2. NYCAP123, Sep 4, 2010
    #2
    NYCAP123

    NYCAP123 Senior Member

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    I'm afraid that your budget and crew estimates are way, way off. I suggest that you do invest in a few charters to really get a feel for what's involved in buying, maintaining and crewing an 85' yacht. You'll find that there is a reason those charters being as expensive as they are.
  3. olivier, Sep 4, 2010
    #3
    olivier

    olivier New Member

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    I said smaller than 85' :) If I can find the above in a 40' or whatever I will just be as happy (I think?)

    Meantime I found a site where I can get charters for a lot less (like 1k/day) - Might go that route.

    Link removed
  4. olivier, Sep 4, 2010
    #4
    olivier

    olivier New Member

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    This was the boat I've been on - And it was already impressive to me. But I'm trying to find a bit more bang for the buck.

    http://www.yachtcouncil.com/Used/62'6''(19.1m)/1993/SEA+RAY-for-sale-in-Monaco?Boatsforsalesearch=basicinfo&vessel=86768&additionalInfo=1
  5. K1W1, Sep 4, 2010
    #5
    K1W1

    K1W1 Senior Member

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  6. NYCAP123, Sep 4, 2010
    #6
    NYCAP123

    NYCAP123 Senior Member

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    Now you're well within reality.:) You can always move up later. You could even make it up to around 60' although I'd recommend 45-55' would be a good place to start looking.
  7. olivier, Sep 4, 2010
    #7
    olivier

    olivier New Member

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    I have better things to do than spam forums with links trust me.. if you need any references for my validity :p
    Should I remove it? If you have any good charter sites please give them.
  8. rodsteel, Sep 4, 2010
    #8
    rodsteel

    rodsteel Member

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    Olivier,

    There is a big price jump around the 50' length (almost twice the cost per foot above it as below it - similarly with cruisers versus sport fishermen - the latter can be twice the cost of the former). You should figure on at least 10% per year basic operating/maintenance costs (of NEW purchase price, not second hand - also, this does not include fuel and food or drink).

    There are several boat magazines (both print and on-line) that provide excellent perspective on features and value (in your price range). This is one:

    "www power and motor yacht com / boat-tests" (put it back together - the web site seems to have a bias against this particular link ;o))

    Some of them also have multiple vessel "comparison" capabilities between their on-line boat tests.

    Enjoy!

    Rod

    P.S. Permanent crew can run from $50K to $100K per year per person (all in with bennies - on smaller yachts - more on the big ones).
    Last edited: Sep 4, 2010
  9. Pascal, Sep 4, 2010
    #9
    Pascal

    Pascal Senior Member

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    i really dont' think your numbers will add up... even here in the US where taxes, fuel, etc.. are much cheaper than in europe, 5k a month, even Euros, isn't going to cover anything bigger than an older 50/60 footer.

    one issue you're going to have and a big chunk in your budget is needing a captain. licensing over there is much tougher than here and with no experience, you cna't run the boat on your own. That alone is going to bust your budget. Plus dockage on the riviera... good luck!!

    you dont' say if your 5k a month budget includes depreciation and interest. even if you pay cash, you're loosing interest income on the purchase cost...

    it all add up very quickly...

    if your budget is what you stated, i dont' think you can reasonably consider anything over 30/35' ...

    you should look at chartering, at least initially. depending on how much time you will really be able to spend on the boat, it may be a better option. I know things are more expensive over there, but here in the US or bahamas you can charter a 50 to 60 footer with crew for $15 to $18k a week all inclusive.
  10. toolmaker, Sep 5, 2010
    #10
    toolmaker

    toolmaker New Member

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    Love at first bite

    Its really easy to fall in love with boating life...the reality hits a few months later, when costs (not just financial) weigh in.

    It might be better to work on boats for a few months, get to know reality and day to day experiences and hardships. It sounds like you might be better off chartering a vessel few weeks or month. Living aboard is great, done it for about year but leased boat from owner, you may want to consider that to get your feet wet.
    If you still love the life after a few months or a year...then take the next step.
  11. Nice Cat, Sep 5, 2010
    #11
    Nice Cat

    Nice Cat New Member

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    Maybe you also should look for boats in northern europe.
    We are also buying a second handed boat, maybe we'll eventually put it at the cote d'azur in summer if the transport costs aren't too much.

    But this summer i've been there, and i have seen the exactly same boat twice for sale. Both were a lot more expensive.

    And about a captain and crew, im not really familiar with that either.
    (I dont like that due privacy reasons anyways.)
    Normally for just going out into the sea, you wouldn't need any crew.
    Just keep in mind, if you want to go to the northern part of Europe, you are most likely to need a crew.

    Since you live in Monaco now, maybe ask some people there what they say about owning a boat. I know people there, who don't want to buy a boat due all the maintenance costs. And they also have friends, whom they can borrow a boat from :).

    About the licence, my dad has a licence for all over the world. It only takes one year of evening school. If you have the time, it's well worth it.

    If I were you, I would start small (Like we are doing now with a 37ft, we intend to buy bigger if everything goes well). Or find a friend who owns a big yacht himself, and can show you how to run a boat, the costs, etc.