What Does It Cost To Charter A Yacht?
The majority of the charters you’ll find offer all inclusive prices which begins at around 10 grand per week and up to 50 grand per week. For luxury charters, the price begins at around $30,000, plus some expenses. And what are some of these expenses you ask? Additional charter expenses may include as food, beverage, fuel, bar, dockage and more. You can pay these expenses via an upfront advance provisioning allowance (APA) above the rate for your yacht. Moreover, expenses motor yachts usually have an APA of 35%. But for catamarans and monohulls, expenses usually have a 20% APA.
So what exactly is an Advance Provisioning Allowance (APA)?
Whatever the terms of your chartered yacht contract, you must know what APA is. This is a price of around 20-25% of the charter fee that cover a “plus all expenses” charter and about 5% for an “all inclusive” charter. Before the charter provision, it is sent to the yacht according to your preference. During the charter, the captain will provide you with a running account of the fund usage and before the charter ends, the captain will also present a detailed accounting along with any unspent funds in cash.
You, as the client, will be expected to provide the captain a sufficient amount of money to cover the necessities if the APA balance runs low during and until the charter ends.
How does the contract affect the costs?
Knowing the base cost of your charter is just the beginning, but depending on your geographical location, which often governs the terms of the contract, may more or less be incorporated in the base price of your charter.
It’s best to bear in mind that each charter yacht, being privately owned, having a particular owner who sets the rules, will be slightly different to one another. One yacht may entail a “standard” wine selection with every meal and charge only to upgrade the choices, while another yacht may have the wines as an a la carte.
And what are the two core things that influence the base price?
You will find that there are only two basic rates in general: low season rates and high season rates.
It’s advisable to decide on your timing carefully because a difference of 7 days (from low season into high season) can create a big difference in price.
The price of the yacht itself
The yacht itself – its name, its size, how it was built, when it was launched, its crew, the range of its features, and the extras it offers – is definitely a huge factor that dictates how much the cost of the charter will be.