Have you and your associates been dreaming of making it rain “fun-coupons” off of a yacht-like Lady M? Or, maybe it’s time for a family vacation—we’ll call it, “Escape Covid-19 via Yacht Charter and Lots of Water 2020 Family Vacation”—ok, we can work on that name.
Let’s face it, renting a yacht is a lot cheaper than buying one. Unless you have a boatload of money or really good credit, you’re probably wondering how much does it cost to rent a yacht.
Below we’ll take a look at different yachts and charters available, and how much it might cost to get that ocean-breeze open-water yacht experience of your dreams.
How Much Does It Cost to Rent a Yacht
A yacht is a pleasure vessel that is 33′ or longer—although commercially considered at 79′ or longer. The biggest determining factor when figuring out how much does it cost to rent a yacht is the size and age of the vessel. The bigger the boat, the bigger the crew, the bigger the gas bill—I think you understand.
If you’re looking for a deal when renting a yacht, you might look at some of the older models for the lowest price ranges. For example, renting a luxury yacht in Florida can range from $2,500 per day and up to $25,000 per day.
Yachts with a little vintage on them rank on the lower end of the rental cost. While newer more modern floating yachts that resemble Star Trek spaceships take a heavy purse full of gold coins. The exception to this are yachts with clout. Famous older yachts or newly vamped vintage boats can still run quite high.
Take the Christina O for example. She’s a 325′ beaut’ built-in 1943 and was completely restored in 2001. You can take her out in the summertime for a cool $659,000 per week. Even Jordan Belfort would recoil at that price.
High Season Equals High Rates
This is standard in any rental situation—the higher the demand, the higher the rates. If you’re planning to rent a yacht during spring break or summer, expect to pay premium rates.
Every location has its high and low seasons. Plan your trip ahead of time around the low season to get the best yacht rental prices.
A bareboat charter is a yacht rental without any crew or captain and is usually booked by sailors. If you have a captain’s license and feel confident navigating yourself, then you might want to try a bareboat charter. There is also the option to hire your own captain and crew, add a skipper, or a guide.
With a bareboat charter, you have the ultimate freedom to go where you want, stop when you want, do what you want. The type of yacht and it’s size will decide what license you’ll need to navigate a bareboat charter vessel.
A bareboat sailboat rental can cost around $5,000 per week for the charter fee, and $178 per couple/day—or $1250 per couple/week. Bareboat catamaran rentals are about double the price starting around $10,000 per week for the charter fee, and $2500 per couple/ week.
Because there’s no chef included in bareboat charters, you’ll have to plan your own meals. Whether that’s packing a bunch of canned tuna, or fishing off the deck, you’ll need to make sure you have enough provisions to hold you over until your next stop.
Crewed charters come with an experienced captain and crew. These yacht charters are loaded with bars full of drinks and a catered meal plan. Crewed charters are ideal for private parties that desire to be taken care of while given a luxury boat ride experience.
Most crewed charters have an itinerary with sightseeing and port visits planned out. However, some allow private parties to choose where they’d like to go, giving them the option to explore the ocean at their whim.
Rates and Charges
Companies typically rate crewed charters as all-inclusive or plus expenses. All-inclusive means meal, drinks, gas, cost, crew rate, and charter fee are paid upfront at a flat rate. Because clients itineraries can change and preferences are so custom, most companies don’t do all-inclusive rates.
Instead, you’re charged a plus expenses rate with a base price and an additional APA charge. The APA, or Advance Provision Allowance, is usually 30% of the base price and is used to pay for any additional costs that add up during the charter.
Extra Charges That You Might Consider
Being able to choose your own itinerary allows you full control of your trip. However, be aware of the extra charges that will raise the overall price of your charter trip.
For example, stopping off at places requires you to dock. Docking fees for one night can move that coin ticker up several hundred to even several thousand.
The farther you venture the more gas your charter vessel will consume. Believe it or not, some of those bigger yachts burn through $1,000 of gas per hour.
Lastly, crew gratuity isn’t usually added to the cost to rent a yacht. Taking care of your crew is important as we know. So being the generous type, you can add an additional 15%-20% of coin to your overall price.
Ready To Party?
We’ve answered how much does it cost to rent a yacht for you. Now you know getting the full yacht experience doesn’t have to be for the rich and famous. Whether you’re looking to rent a yacht for a day or for a week, there are many different yacht sizes and models out there that give you a wide availability of prices.
Did you find this article useful? Check out our other travel and lifestyle articles for more insightful tips.