When it comes to the ultimate splurge and the most extravagant thing you could possibly treat yourself to, a luxury yacht is the pinnacle of indulgence. The world’s biggest superyachts, owned by billionaires, are truly impressive, and boast a host of standout features ranging from luxury suites to cinema rooms and hot tubs. Then, there are the saunas, massage rooms, wet bars and even helicopter landing pads – proof, if you needed it, that when money is no object, there are no limits on what’s possible.
If you’re considering splashing out on a luxury yacht in 2023, then you might be wondering how much you can expect to pay to make one your own, and the answer is, it varies wildly. Some of the plushest vessels can come with price tags of up to £4 billion; the History Supreme, made of solid gold, is the most expensive yacht ever sold to date and is reportedly owned by Malaysia’s richest man, Robert Knok.
Whatever your budget, you’ll likely be able to find the perfect yacht to meet your needs – it all depends on what you consider essential features, and what you’re willing to compromise on. So, if solid gold everything isn’t a non-negotiable, then you could comfortably expect to pay within the millions or even the hundred thousands, rather than the billions.
Whether you plan on spending your summers sailing European hot spots like the French Riviera and the Amalfi Coast or have designs on dropping anchor off a paradise Caribbean island for the winter, owning a high-end yacht is the perfect way to explore the world and make the most of the best weather all whilst enjoying the lap of luxury.
Here’s how much it costs to buy a luxury yacht in 2023.
How much does the average yacht cost?
The average price of a luxury yacht currently stands at around £532,000 – but prices range between anywhere from £250k to £12.5 million. If you’re thinking more superyacht and less run-of-the-mill luxury yacht – if there is such a thing – then consider this; Amazon tycoon Jeff Bezos paid upwards of £400 million for his. Standing at 230 feet in height, it’s the tallest in the world, and took five years to build. As the third richest person, with an estimated worth of £95.5 billion, he can certainly afford it, and it’s just as well – because upkeep alone will set him back around the £20 million mark.
Back on the topic of your average luxury yacht, and this can mean different things to different people – so in order to determine how much you could realistically expect to pay for your dream boat, you’ll need to assess your expectations. The average selling price above is based on the selling price of boats of between 40 and 100 feet, but the features they offer differ dramatically.
Are you looking for multiple bedrooms for guests, or will just one or two do? Will you want an underwater viewing area or an on-board beach club? All of these extras will add to the cost you end up paying – so convey that to a professional yacht broker, and they will be able to make suggestions and recommendations based on your criteria.
Even yachts of comparable size can vary wildly in price – not just dependent on their features but also factors like brand and engine size.
The hidden cost
The upfront cost of a yacht isn’t the only expense to consider when searching for your perfect vessel, and it’s worth bearing in mind that there are invariably going to be some eye-watering upkeep costs involved, too.
Insurance for your new pride and joy can easily cost around the £240,000 mark – that’s the price of a small house – but it’s always worth shopping around to ensure you get the best deal. Take some time to compare boat insurance before choosing your policy, as they tend to differ depending on the size, engine and features of your yacht.
Fuel is another sizable expense for luxury yacht owners, and can cost anywhere up to £330k on average – although if you plan to travel far and wide then this number could be considerably higher.
And of course, there’s dockage, for which £300k is a realistic figure for the year.
The bottom line
Buying a luxury yacht is no small expense, but if money is no object then the sky really is the limit. Knowing what you want is the key to getting a realistic ballpark price, so chat to an experienced yacht broker to get the ball rolling.
