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Cost to operate a big yacht

Discussion in 'General Yachting Discussion' started by bruce.sands, May 10, 2020.

  1. bruce.sands

    bruce.sands New Member

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    I have a friend who is thinking of buying a 1oo foot Hatteras to liveaboard but is wondering about crew costs, maintenance costs, insurance costs, and operational costs on a yacht that size. I told he I sure have no idea about it and that he should ask on here, naturally he asked me to. He lives in Miami and I live in Copenhagen but he doesn't like computers. lol

    Any information would be appreciated.
  2. Pascal

    Pascal Senior Member

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    It is really very hard to give a meaningful numbers as there are so many factors

    First issue in Miami and SoFl will be dockage. Very hard to find especially live aboard and especially for larger boats No... make that almost impossible... I know... I ve been living aboard here for almost 20 years. Dockage in Miami can go from $4000 to $6000 a month or more for a 100 footer depending on location.

    Crew costs? Figure 150/180k a year for two plus a part time 3rd crew if needed

    Insurance? One example : $16k a year for a $3M ten year old 84 footer Value and age has more impact than length. Boats over 20 year old are becoming hard to insure

    maintenance varies greatly depending on age obviously but also previous history and maintenance. As a bit gets older maintenance goes up. Probably doubles between 5 year old and 10 years old.

    operating costs depends greatly on usage, not just number of hours but also how the boat is used. If the owner doesn’t mind slowing down say on long trips to the Bahamas, fuel costs will be halved. Prefer anchoring off a remote beach? No cost just 50 gallons a day of fuel to run the gensets. Want to dock at expensive marinas? $500/600 a night plus electricity which can be as expensive as running a generator
  3. bruce.sands

    bruce.sands New Member

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    Thanks Pascal, I'll pass that along. If anyone else can provide information it will be appreciated.
  4. T.K.

    T.K. Senior Member

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    The annual operating costs of a 100ft yacht are approximately 7% to 10% of the price of a new yacht. I would estimate around USD 800k per annum.
  5. Capt J

    Capt J Senior Member

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    I would figure with crew and everything $800-1m per year to properly maintain it. It really depends on the usage.
  6. classic

    classic New Member

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    if you have to ask You cant afford it .. old saying
  7. Demani

    Demani New Member

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    Maybe he just has no idea and before he leaps wants to find out. Asking doesn't always mean someone can't afford something, it could be they are doing their homework. Personally I have no idea what size crew it would take to run a yacht that size, it seems the gentleman that is asking doesn't either but apparently can afford it so wants to know. I see nothing wrong with giving him the facts he asks for instead of snarky answers.
  8. Beau

    Beau Senior Member

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    If your friend is just looking for a dock queen and a couple of years of fun, the costs are different than a fully operational boat that you fly to when there are breaks in your business schedule. And if that's the case, a 50-60 Hattie MY would probably work out just fine.
  9. Danvilletim

    Danvilletim Senior Member

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    We just sold our 105. If you are not traveling and using a yacht Mgt firm you can get away with $25-30k a month. Now that’s not yachting, rather living on a nice boat.
  10. Demani

    Demani New Member

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    My wife often says if we had the money won't it be nice to have a boat like this and travel. At 25 to 30k just to park it and live on it my PA Dutch blood is acting up and saying man why won't you spend the rest and travel? I may be cheap Dutchman but if you are going to go for it, go all the way and travel. I can understand if for health or another reason you had to stay in one place, but I'd want to be traveling on a boat like that.
    Last edited: May 28, 2020
  11. Danvilletim

    Danvilletim Senior Member

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    25-30 is sitting still with 5-6k in capt yacht mgt cost. Dockage $5k, Ins $2500,Electric $1k, Bottom $500, Boat Wash $1000, and the rest is annualized maintenance. If you want to travel then you need 3 crew so add that to be another 10-12k on top of the already quoted capt/ yacht mgt cost. And then you need to feed the crew and fuel... If you are traveling then you are paying $500 a night for dockage in SoFlo or New England if you aren't on the hook.

    Maybe you could travel for $50k a month at the low end?
  12. yr2030

    yr2030 New Member

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    Don't buy it unless you already have a dock to put it at