How Much Does it Cost to Charter a Yacht?
Your choices are vast. Your destinations are worldwide. So how much does it cost to charter a yacht?
With so many options, the cost of chartering a private yacht varies. Here are some basics to know when planning your best-ever vacation.
Type of Yacht
Generally, a motor yacht will cost more than a sailing yacht, mainly because of the cost of fuel. Charter yachts fall into these categories:
Charter Rates – Seasons, Terms, etc.
Generally speaking, High Season rates can vary significantly from Low Season rates, no matter where you travel. Just a few weeks’ difference can really affect the pricing and availability of yachts that meet your needs, plans and desired world region. Always check to see if you are planning to charter a yacht during High Season, and adjust your expectations accordingly.
A Term Charter is typically based on a 7night/8day schedule, with boarding and return times typically at noon. Some countries and yachts can be flexible about the schedule (any day of the week). Croatia and Greece tend to have a set schedule for Saturday to Saturday. While our firm typically engages clients for a Term Charter of 7 nights or longer, some regions like New England (our home) offer Short Term charters, typically a minimum of 3nights/4days or 4nights/5days. Always contact us for special requests in any region of the world.
When you see an “all-inclusive” charter price, you can usually interpret this price to include your crew, all food (customized breakfast, lunch, cocktails, hors d’oeuvres, and dinner) and beverages, as well as standard bar, water toys, fuel, and cruising taxes, unless otherwise stated by the yacht. All-inclusive charter arrangements are quite common in the Caribbean region.
Try out the adventure with less frills and more of a hands on experience. You cook, you clean but you have a Captain doing all the navigation. Click here for more Captain Only information.
Plus Expenses (“Plus all”)
This pricing arrangement usually means that your yacht, amenities, crew (plus food) and water toys are covered in the charter fee. Everything else is covered by a “Plus All” or “Plus Expenses” financial arrangement, where those additional expenses are covered by an “APA” (Advanced Provisioning Allowance), discussed below.
APA – Advanced Provisioning Allowance Covered Expenses
Think of an APA as a sort of expense account, pre-funded by you before you embark. This arrangement conveniently takes the day to day expenses and provisioning out of your hands, so you can enjoy your journey and not have to carry a wallet on deck. It makes the yacht captain your purser, handling any customized requests and other likely or planned expenses such as food and beverages, fuel, marina fees, and any special requests you may have during your charter. The Captain reconciles your expenses at the end of your charter, and generally returns any unused funds back to you.
Types of APA Covered Expenses
What types of expenses might cost more (or less) than expected? Consider items like specialty food and drink, fuel usage for yacht and tenders, harbor fees and dockage fees, communications (internet, satellite etc.) delivery fees (if not home port), special personal laundry items, etc.
APA Rates can Vary by Yacht Type
Sailing yachts typically require a 25% APA. So, if your sailing charter contract is priced at $50,000, you should expect to add 25%, or $12,500, to an APA account to cover additional expenses.
Motor Yachts typically require a 35% APA, mainly because of the greater fuel expense than a sailing yacht.
Taxes (also called VAT in the EU and elsewhere)
Tax rates and VAT (Value Added Tax) rates can vary by country. Here are a few examples: New York=8.6%; Bahamas=4%, Croatia=13%, Greece=12%. Tax rates are, of course, subject to change. When we give you a quote for yacht options, we also quote the current tax or VAT rate based on your destination.
Gratuities are entirely at the discretion of the client. The amount you select should reflect your satisfaction with your overall yacht charter experience.
10% is customary in Europe / Mediterranean / Thailand
15% is customary in New England and Caribbean
20% reflects outstanding service from your crew and their attention to details
Escrow Account – protecting your charter funds
Carol Kent Yacht Charters International has a fiduciary responsibility to our clients. We use a separate escrow account to protect your funds after your deposit is paid. From this escrow account, funds are released to the yacht’s management company to disburse APA funds for your charter, and Charter fees are released to the yacht and owner according to your Charter Agreement’s terms and conditions.
While travel insurance is a separate option and not part of a Charter arrangement, it is a wise investment. Unforeseen circumstances (illness, weather, etc.) could result in cancellation or shortening of the charter. We highly recommend, and can help you obtain, travel insurance. During the COVID-19 pandemic, we keep updated on the state of travel. We work with reputable travel insurers, and can happily assist you obtaining insurance quotes to protect your valuable investment. Here we list Top 10 Reasons to Insure .
Coverage can vary based on state to state residency and personal preference. Some credit card agreements may cover SOME travel interruptions, but not all circumstances. It is best to know before you go that your vacation investment is protected. Get a Quote! We can help.
Yacht charter pricing may also differ based on special features and offerings. For example: Top Yacht Chefs, amount and types of water toys, scuba diving, number of crew, Jacuzzi on deck, and unique yacht designs are just a few of items that can affect your charter price.
If you plan to add onto your yacht vacation experience with land excursions, private massage services and other specialty services to enhance your vacation memories for yourself and your guests, those may also be financed by adding funds to your Escrow account.
Now the fun begins! When you engage with our 30+ years of award-winning expertise, we go to work for you and research the options and available vessels to find yachts that fit your budget, destination, interests, preferences, travelling party and occasion.