The Economics of Operating a Yacht

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A yacht is often thought of as the height of luxury. They’re incredibly large boats that tend to have their own operators. To purchase a yacht, you have to have a large amount of money, for you need enough money to buy the yacht, dock the yacht, and operate the yacht. There are then items onboard the yacht that will require a good deal of money. You’ll need to stock the boat with food and drinks. Also, you might have a Jacuzzi or a sauna on your boat that you need money to operate. However, owning a yacht is not all about expenses. There are savings that come with such a purchase as well.

Saving Money

You can save money by owning a yacht in several different ways. If you have a Hong Kong yacht, you’ll be able to travel around the world in your own boat. Hong Kong is centrally located in the South China Sea. From a Hong Kong port, you can be in Indonesia, Japan, or Australia in a matter of hours. Since you will have such incredible access to many different places all over the Pacific, you won’t have to spend money on cruises or flights to these different places. Operating your own boat to get to these locations will offer you savings on your travel as well as flexibility in terms of when you want to go.

Since you will be much more flexible about when and where you go on holiday in your yacht, you will get better prices at your destination. Many hotels, restaurants, car rentals, and other tourist interests will charge more money during their peak periods. If you have your own yacht, though, you can travel during their slow periods. Prices will be lower during these periods, saving you money in the long run.

Operating Costs

A yacht is not all savings, though; there are some operating costs. You’ll need to spend money on stocking your yacht with food and drinks if you plan to stay on it for more than an hour or so. You will also need fuel for your yacht. A yacht’s tank can easily hold over 1000 litres of fuel, which can be an incredibly expensive fill-up. Furthermore, you’ll need to pay for any repairs that might become necessary.

A boat that size will have a very large engine or multiple engines that will need to be tuned and calibrated just like the engine in your car. However, since you don’t operate your yacht as often as you do your car, they might actually need more maintenance. Yachts will sit for weeks and weeks without use, which can cause some problems with different parts of the boat. While they are sitting, they’ll be sitting in a slip at a dock. The docks have docking fees you will have to pay usually on a monthly basis.

All in all, a yacht is an expensive purchase. Much like other boats, they do not depreciate very quickly. You will likely be able to sell your yacht if you so choose and get most of your money back.

Buying a yacht is an investment that isn’t right for everyone.