You have reached the point in life where you have the resources to indulge in the obscene pleasures most of us only dream of. You have more often, than not, been correct in you decisions making. Luxury yachting is unlike any other decision you have made. You cannot hand the keys to the captain and expect everything to go smoothly. That’s not how it works. There are thousands of moving parts to keep up, crew, dockage, mooring, supplies, trip planning, customs, licensing, provisions, where to refuel, reservations and so many other things.
Your time on board is wonderful and the experiences are worth the money you spend, but remember the costs keep adding up daily while you sit in your office running your business. The same thousands of moving parts, crew, dockage, and worst of all, the corrosion and damage of non-use, while your asset sits at the dock.
The typical yacht is used between 300 to 400 hours per year, 30 to 50 days a year. Which leaves 315 to 335 days it just sits at the dock.
It’s the 315 days that kills the thrill of yacht ownership. What business person can justify spending a million dollars or more a year to let your yacht sit tied to a dock unused?
Owning a luxury yacht is going to test your resolve. In the beginning you are in love and willing to spend whatever it takes to keep her in great shape. So, what if a pump goes out, just buy a replacement and keep going. The crew keeps calling with more things that need attention. Will you keep spending the cash necessary to keep her in pristine condition?
Who is going to manage the daily operations of the yacht, purchasing, supplies, monitoring maintenance, major repairs and of course the crew.
A yacht requires countless hours of research, decision-making and legal consequences.
These are the things that kills the love story of yachting for some people and then you decide tp sell your yacht. How easy is it to sell if it becomes necessary? Today the market is flooded with older yachts, so who knows how long it could take.
These are some of the questions you need to answer before purchasing a luxury yacht.
To help you in your decision whether to get into a luxury yacht, consider fractional yacht ownership. It offers you, everything, more and less.
Everything – handled by the management company
More – time on board, fun, destinations, relaxation, family time, larger yacht
Less – headaches, problems, time away from family, decision-making, worrying, legal consequences, you spend less money, time away from your business, easier to sell when the time comes.