Have you ever glanced at the pictures of the rich and famous having a party on the deck of a Super-Yacht somewhere in the Caribbean or Mediterranean? Have you wondered what would it cost to party like that? Well, it is expensive, but not impossible. You see, they probably don’t own the yachts, they rent them.
In the April 15th issue of Private Wealth, they discuss what it takes.
Lounging in the Caribbean aboard a beautiful, 100-foot superyacht sounds pretty great, but it might be hard to relax when you’ve got a hefty engine repair bill to pay and crew payroll paperwork to review. The annual cost of operating a 180-foot vessel is $4.75 million, or about 10 percent of the yacht’s original cost. With high maintenance costs in mind, ultra-high-net-worth individuals looking to explore the high seas are increasingly turning to charters.…
A week on a superyacht can cost $115,500 to $190,000, on average, the report found, while the average purchase price is a bit more than $10 million …
Of course that puts it out of the price range of all except the ultra-high-net-worth individuals; those with a minimum worth of $30 million.
But the number of ultra-high-net worth people keeps growing and they often decide to rent a yacht or lease a jet rather than buying one. It’s a business that keeps growing.
And for people who are climbing the financial ladder (or win the lottery), it doesn’t hurt to dream big.