Chartering A Yacht: How Much It Costs
The majority of the charters you’ll see will have an all-inclusive price, ranging from $10,000 per week to $50,000 per week. For luxury charters, it starts at about $30,000, plus other expenses. And what are some of these expenses you ask? Additional charter expenses may include as food, beverage, fuel, bar, dockage and more. You can settle these expenses through an upfront advance provisioning allowance (APA) on top of the cost of your yacht. Also, expenses motor yachts typically have an APA of 35 percent. For monohulls and catamarans, you can expect expenses to have a 20 percent APA.
So what exactly is an Advance Provisioning Allowance (APA)?
Whatever the terms of your chartered yacht contract, you must know what APA is. This amounts to around 5% for an “all inclusive” and about 20-25% of the charter fee which covers for a “plus all expenses” charter. It is sent to the yacht before the charter to arrange the yacht according to your preferences. During the charter, the captain will provide you with an active account that will show you how the funds are being used, and towards the end of the charter, the captain will also give you a detailed accounting that will also entail funds that have not been spent in cash.
You, as the client, will be responsible for providing the captain a sufficient amount of cash to cover all the necessities especially if the APA balance is running low – but of course only during and until the charter ends.
How does the contract affect the costs?
Knowing the base cost of your charter is just the beginning, but depending on your geographical location, which often governs the terms of the contract, may more or less be incorporated in the base price of your charter.
You must bear in mind that every charter yacht, since they are privately owned and the owner appoints the rules, is quite different. One yacht may entail a “standard” wine selection with every meal and charge only to upgrade the choices, while another yacht may have the wines as an a la carte.
And what are the two main factors that influence the base price?
In general, you will see just two basic rates: high season rates and low season rates, and usually there will be specific dates set for each.
It’s advisable to decide on your timing carefully because a difference of 7 days (from low season into high season) can create a big difference in price.
The price of the yacht itself
The yacht itself – its name, its size, its crew, how it was built, when it was launched, the range of its features, and its bonuses – is definitely a big factor that affect how much the cost of the charter will be.