Seeing Deep Pockets at Sea

Super-yacht-charter-1

 

So you thought you had a bunch of bills to pay? We all know that feeling when we have to fix the deck or refurnish the basement.

 

According to The 2013 (Super) Yacht Index published by Camper & Nicholsons International in conjunction with Superyacht News there 6,290 super yachts, defined as being at least 24 meters or 78 feet long. Despite the recession, the fleet has grown considerably from 4,400 in 2007. Prices for a yacht can range $5 million to $200 million or more, and operating costs are by the standards of most bank accounts amazingly expensive.

 

An article by The Wall Street Journal noted it can cost over $2,000 per hour just idling the engine at the dock, and filling the tanks can cost over $600,000. Captains make over $25,000 per month while chefs can take home around $12,000 monthly. Monthly crew costs can run to $100,000 per month. Experts say budget an extra $50,000 per month for variance maintenance and compliance issues which pop up. By contrast port fees of several thousand dollars per day seem like a bargain.

 

The article notes the average yacht owner uses their yacht between three and five weeks per year. About 20 percent of the yachts are on available for charter. Needless to say, for luxury marketers looking for deep-pocketed prospects, looking out to sea, or the nearest super yacht marina, may be a good place to start.

About Doug Gollan

Media Executive focused on marketing and sales to Ultra High Net Worth (UHNW) consumers
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