The Cost To Charter A Yacht
Most of the charters are all-inclusive and they typically starts around $10,000, but an reach up to $50,000 per week. For luxury charters, it starts at about $30,000, plus other expenses. What other expenses you ask? Extra charter expenses may include as dockage, food, beverage, bar, fuel, and more. You can settle these expenses through an upfront advance provisioning allowance (APA) on top of the cost of your yacht. Moreover, expenses motor yachts usually have an APA of 35%. For catamarans and monohulls, expect expenses to have an APA of 20%.
What exactly is 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. According to your preference, it is sent to the yacht before the provisions of the chartered yacht. 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 responsible for providing the captain a sufficient amount of cash to cover all the necessities especially if the APA balance is running low – but of course only during and until the charter ends.
Can contracts influence 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.
You must bear in mind that every charter yacht, since they are privately owned and the owner appoints the rules, is quite different. One yacht may encompass a “standard” selection of wines with each meal and charge only to upgrade the vintages, while another yacht may offer the wines as an a la carte.
And what are the two main factors that influence the base price?
Low seasons vs. high seasons
You will find that there are only two basic rates in general: low season rates and high season rates.
It’s important to choose your times carefully because a difference of one week (from high season into low season) can make a huge difference in cost.
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.