How much does a yacht cost?

If you’re considering purchasing a yacht, you must have wondered, “How much does a yacht cost?” To answer this question, it's important to know not just how much you’ll need to be able to buy the yacht, but also to run and maintain it.

This blog will explain the different types of yachts available and their price ranges, as well as factors that may affect the cost. We’ll also discuss the ins and outs of buying pre-owned yachts, plus some of the additional costs that come with yacht ownership.

How much does a yacht cost?

It’s no secret that yachts can be a big investment, so if you’re looking at buying one, it's best to get an understanding of the different factors that can impact cost.

The biggest impact on the cost of yachts is their size; generally, the bigger the yacht, the bigger the price tag.

You’ll also find aspects such as the yacht’s age, brand, features, and even the season in which you’re buying it can determine the price of a yacht. Autumn and Winter are usually the most cost-effective months to buy a yacht, as there’s less demand.

Types of yachts and their cost

While looking for the right yacht, you’ll probably find that they mostly fit into one of the categories listed below. Read on to find out the price range for each category:

Dinghies

At the lower end of the price range, you could expect to pay up to £10,000 or more for a brand-new dinghy (usually less than 20 feet long). Small sailing dinghies such as those made by Topaz, Laser, or RS, can sometimes be cheaper than this, but if you’re looking for a motorised small dinghy, the price can soar to £50,000 or higher.

Sailing yachts

Sailing yachts are powered mostly by the wind, which uses the sails to move the yacht forwards. Starting from £10,000, the cost of larger sailing yachts with more luxury amenities can range all the way up to £5m.

Racing yachts

The cost of racing yachts can vary greatly depending on the brand and size of the racing yacht you would like to buy, ranging from tens of thousands of pounds into the millions.

Racing yacht costs often include high-end navigation systems, compasses, and steering systems designed specifically for racing. Most racing yachts are also made of Kevlar and Carbon, which makes them lighter for racing but can also make them more expensive to buy and insure.

Large yachts

Usually between 15 and 24 metres long (larger than 24 metres will put you in superyacht territory), large yachts can cost £200,000 or more to buy new. Large yachts usually have more amenities available on board due to the added space, but they’ll cost a lot more to run and maintain.

Multi-hull

Multi-hull yachts have more than one hull—the most common being catamarans, which have two hulls, and trimarans, which have three. Although technological advances in manufacturing multi-hulls have made them more affordable, they can still cost anything from £20,000 to £3m.

Superyachts

On the more luxury end of the yacht spectrum is the superyacht. These are usually between 24 and 60 metres long, and their size means you’ll need a crew to operate it. As you can imagine, superyachts have a starting price in the millions, and you could even find yourself paying hundreds of millions at the top end of the scale.

Related: The cost of owning a superyacht in 2024

Mega yachts

Once you get past the 60m length mark, you’re in mega yacht territory. A mega yacht will set you back tens of millions of pounds at the very least, with some of the world’s richest people owning mega yachts that cost upwards of £500m.

What factors impact the cost of a yacht?

Whichever type of yacht you decide is the best for you, several factors will bring the cost up or down. If you already have a budget in mind, deciding which of the below factors are most important to you (and which you're happy to compromise on) is a good place to start when buying a yacht.

Size and length

Size and length can hugely impact how much a yacht costs. It's important to also consider that the larger the yacht, the more you'll be paying in additional costs, such as fuel, storage, and employing a crew. When deciding the ideal yacht size for you, think about what you want to use it for; will you use it for short weekend trips with the family, or do you want to spend weeks on the water with a large group?

Age and condition

The age and condition of a yacht affect its selling price, but the condition of a yacht is often considered more important than its age. You must have a pre-purchase survey carried out before you purchase a yacht, just as you would a house, to make sure everything is in working order.

When looking at used yachts for sale, you can ask to see the yacht's maintenance record, showing how well its previous owner has looked after it. Better-maintained yachts will be more expensive to buy, but you may find you save money in the long run if the yacht has fewer maintenance issues to fix yourself as a result.

Brand and build quality

A well-known, high-end brand can sometimes make a yacht more expensive to buy, but this may also mean the build quality of your yacht is better. Popular yacht brands include Fairline, Sunseeker, and Princess.

 However, that's not to say that you won't be able to find yachts from lesser-known brands that are still high-quality but with a lower asking price. The best way to ensure you're getting the most for your money is to research the quality of the yacht you're buying and make sure it's exactly what you're looking for.

Customisation and features

Custom-built yachts will often fetch a higher price when resold than mass-produced ones, as their features may make them a rarity. Whether yachts are custom-built or mass-produced, the additional features available on board will also increase the cost. These can include extra rooms, air conditioning, and other unique interior design features.

Technology and equipment

Another factor that will affect yacht cost is the technology and equipment you want to include on board. This can include everything from essentials such as the quality of your navigational equipment, anchors, and rigging to luxury add-ons like onboard Wi-Fi and satellite TV.

New vs pre-owned yachts: price differences

The biggest difference between buying a yacht brand-new versus pre-owned is the price. Yachts can lose up to 50% of their value over the first ten years of ownership, so you may find yourself paying half the price when buying a used vessel.

Of course, both have pros and cons, whether you buy new or used. If you're thinking of buying a yacht brand-new, you may find yourself waiting longer until you have the boat in your possession, and you'll be paying a higher price. However, your new yacht will likely come with the latest technology and equipment, a more efficient, eco-friendly engine, be in pristine condition, and it should also come with a warranty.

When buying a used yacht, you’ll not only save on the price, but you’ll also have more options to choose from, access to a maintenance record to ensure everything’s in working order, and a typically shorter purchase process to navigate. On the other hand, the yacht won't come with a warranty, and you could face hidden issues with the yacht if it isn't properly checked, so you should always do your due diligence when buying second hand.

Additional costs of yacht ownership

When calculating your yacht budget, remember the additional costs associated with running and maintaining the yacht. 

This can include everything from storage fees to fuel costs and can increase along with the yacht's value. As a rough guide, you can expect to pay anywhere from 5% - 20% of the yacht's buying price in annual running and maintenance costs.

Below, we've gone through the additional costs to consider when figuring out how much it costs to run a yacht per year.

Maintenance and repairs

Maintaining your yacht well is highly important to keep your vessel in good running order and to catch any repairs early before they become a bigger problem. This can include:

• Maintaining cruising equipment (engine, sails, rigging etc)
• Painting of the exterior
• Examining and repairing the hull
• Testing and fixing electrical equipment
• Cleaning of the internal and external areas of the boat

The cost of carrying out all the above will vary greatly depending on the type of yacht you own. Generally, the more expensive the yacht, the more expensive it will be to repair.

It’s best to have an ongoing maintenance programme in place to ensure you’re keeping your yacht in the best condition. Your insurer will also likely require you to carry out a yacht survey once the yacht reaches 20 years old.

Docking and storage fees

Docking and storage fees can differ considerably depending on the type of yacht you have and where you want to store it. To give you an example of how much size can affect the price, Hambley Yacht Services in Hampshire offers outdoor storage at £84 per week for a 10m yacht or £269 per week for a 20m yacht. That's a difference of more than £9,000 per year!

Usually, the more desirable the area, the more you'll be charged for docking or storing your yacht there. The costs will also vary based on the facilities available and the type of storage you're looking for.

If you're unable to store your boat yourself, you have three options available to you:

Marina slips

Storing your boat at a marina usually gives you two options: wet or lift slips. The key difference between the two is that your boat is either stored in the water or lifted out. The benefit to storing your boat using a slip is that you can access your boat yourself at any time. However, slips are usually without any cover for your yacht, so you will be at the mercy of the elements.

Boatyard storage

Your second option is boatyard storage, which does exactly what it says on the tin. Again, your boat will be stored outdoors at a boatyard, so your yacht will be exposed to the weather, but it can be more cost-effective than the other two options in this list.

High and dry storage (dry stack)

High and dry storage may not be an option for you if you have a larger yacht, so you'll have to check the size limitations of your local marina. With this type of storage, your boat is lifted onto a rack with other boats and kept indoors to be better protected from bad weather. However, you will need to contact the facility any time you want to take your boat out onto the water.

Insurance costs

The best way to get an idea of insurance costs so that you can factor this into your budget is to get a quote from your chosen insurer. To get a quick quote, you'll need to supply the following information:

• Value of your yacht
• Yacht type
• Age of the vessel
• Type of engine your yacht has
• Where you'll dock or store your yacht
• How you'll use your vessel
• Where you’ll use your vessel
• Your experience
• Your claims history

All the above will have an impact on the cost of your insurance, which is why it helps to get a quote to find out how much you'll be paying if you choose to insure your yacht. Although insuring your yacht isn't a legal requirement in the UK, you may find some marinas or local authorities request that you have a minimum of third-party liability insurance to keep your boat on their premises.

Fuel costs

You can get a rough estimate of your fuel costs per trip using one of the many fuel calculators available online. Although this will only give you a ballpark figure, there are several things you should consider to get an idea of what your annual fuel costs could be. For example:

• The price of fuel in the area(s) you'll be travelling
• How quickly your yacht consumes fuel
• Weather conditions (rougher weather can mean you'll consume more fuel while cruising)
• The speed at which you'll be travelling
• The distance you want to travel
• How often you'll use your boat

Using all the information above can help give you a good idea of how much you'll be paying in fuel costs, and over time, you'll become more familiar with your yacht and how it uses fuel to give a more informed estimate, too.

Registration and taxes

Registering your yacht on the UK Ship Register is vital if you want to take your boat outside of UK territorial waters. Registering your yacht costs between £35 and £196 for five years, depending on the type you have and how you use it.

The cost of paying taxes on your yacht will depend on where you buy the boat and where you register it. Every country has different laws on what taxes need to be paid, so it's best to do your own research to ensure you're fully up to speed so you can factor this into your annual yacht costs.

Crew salaries

This mainly applies to those looking to buy large yachts that would be impossible for them to safely manage themselves. Depending on the size of the yacht and how it's operated, you may need to employ a whole team of crew members.

Specialist yacht insurance through Craftinsure

Once you’ve found your ideal yacht, you may want to protect it with specialist yacht insurance.

At Craftinsure, we arrange policies that include up to £5m of third-party liability and cover for theft, loss, and damage to your yacht, so you have complete peace of mind. 

Learn how we can help here, and get an instant online quote today.