How much is Yacht Management?

Motor yachts, specifically luxury cruisers and sailing yachts, are becoming increasingly popular. This has also resulted in an uptake in the demand for yacht management services, from companies, which help you manage your yacht more effortlessly and efficiently. That being said, it’s no wonder that the question on the minds of many is how much yacht management actually costs. Here are just a few tips to help you get a better grasp on the matter.

Yacht Management Companies Prices Vary from Boat to Boat

Depending on the size, model, and manufacturer of your yacht, the prices of yacht management can significantly vary. What’s more, depending on the exact type of services you wish to hire the company for will also have a huge impact on the overall cost. Your location is also crucial, as prices vary from country to country and even from state to state. Nevertheless, you can still calculate an estimate of what you can expect your final price will be, before contacting the company.

Receiving an Expected Estimate of the Cost of Hiring a Yacht Management Company

Knowing how to calculate an expected estimate of the cost of a yacht management company, before contacting the company for a quote themselves, can save you time. What’s more, it will give you a better certainty in the ultimate decision of hiring the company of your choice with regard to the monetary value they provide you with. Here are a few tips on how to calculate the cost.

  1. Depending on the size of your yacht and its initial price, you can get an estimate. Usually, the annual cost resides within ten percent of the estimated value of the price itself. (e.g. if you have a $5m yacht, you should expect to pay $500,000 each year for its maintenance)
  2. Which services do you require? Usually out of these 10 percent, 30 percent go for the maintenance of the vessel itself, 25 to the personnel cost, 15 are the expected expenditures, 10 go for logistics, 10 for consumables, 7 for administrative expenses, and 3 for remaining expenses.
  3. Whether or not the above services fall in line with your expectations of what your yacht management company should do, you can get a pretty fair estimate of what you should expect to pay to your company.

 

Having trouble selecting the right yacht management company? Our team of experienced yacht professionals help. Vessel Vendor is a full-service yacht brokerage firm that offers an array of boating services from listing your yacht for sale to answering common boat related questions. Call today to learn more about our services and how we can help you with all your yachting needs.

 

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