Why buy a luxury yacht?
Have you wondered what the benefits to owning a luxury yacht are? We are pleased to share with you that there are many.
What makes a yacht a superyacht? It’s not just about size! While a superyacht is generally regarded as being more than 24 metres (80 feet) in length, it is also a vessel that offers supreme luxury and is professionally manned by a dedicated and passionate crew, who live and work onboard.
Becoming a superyacht owner affords you access to an exclusive international club, an elite list of the world’s wealthiest movers and shakers who all have one thing in common: the indulgent lifestyle of luxury yachting.
When deciding what kind of luxury yacht to buy, there are many factors to consider. Do you want a motor yacht or a sailing yacht? Do you want to cruise the coastlines of the Mediterranean and Caribbean islands, or will you venture further afield – crossing oceans and chasing sunsets? At Camper & Nicholsons, our brokers’ goal is to truly understand your lifestyle, needs, and requirements, so that we can find the best possible yachts to match.
It is important to consider a yacht’s capabilities and your intended use. You will also need to think about how much accommodation you need onboard (the number of cabins), what amenities you would like – such as an on-deck Jacuzzi, space for alfresco dining, or perhaps an onboard gym – and what toys and tenders you would like the yacht to carry.
If you are considering investing in such an asset, you will also need to decide whether you will shop the brokerage market, buy a new production-built yacht, or embark on your own full-custom build. While a full-custom build will be exactly to your unique requirements, the process can be quite lengthy, and the cost can be unpredictable. If you decide that a full-custom built is the route you wish to take, engage a reputable project manager, such as Camper & Nicholsons’ New Build Division, to manage the process for you.
If you’re keen for a quicker route to superyacht ownership but still want a new vessel, there are semi-production vessels available with various levels of customisation and at various stages of construction. These allow for aspects like the superstructure shape, onboard amenities, and interior layout to be changed.
The world of luxury yachts is diverse, complex, and dynamic. The international yacht shows, such as Cannes Yachting Festival, Monaco Yacht Show and Fort Lauderdale International Boat Show, are an excellent place to start your research, and we advise attending these with an experienced broker who can explain the differences between various types of vessel and help you hone your requirements.
Many prospective purchasers of luxury yachts are put off by the on-going running costs. Camper & Nicholsons’ yacht management division identifies running costs to be between 10% and 25% of the purchase price, and these can vary drastically even between yachts of the same size, depending on frequency of use, cruising location, interior/exterior changes, and whether the yacht is for purely private use or available for charter. These costs also include insurance, maintenance, and crew salaries – all of which can affect the final figure in various ways.
For owners looking to recoup some of the running costs however, the buoyant charter market may hold the answer, with the popularity of yacht charter enjoying a steep rise in demand for all types of luxury vessel.
A luxury yacht is a fantastic way to bring friends and family together – quality time, in the destination of your choosing, in total privacy. The memories you make will last a lifetime, for guests both young and old!
