Chartering A Yacht: How Much It Costs
The majority of the charters you’ll see will have an all-inclusive price, ranging from $10,000 per week to $50,000 per week. For luxury charters, it starts at about $30,000, plus other expenses. What other expenses you ask? Other charter expenses may include as fuel, food, beverage, bar, dockage and more. You can pay these expenses via an upfront advance provisioning allowance (APA) above the rate for your yacht. In addition, expenses motor yachts usually have a 35% APA. But for catamarans and monohulls, expenses usually have a 20% APA.
What exactly is Advance Provisioning Allowance (APA)?
Whatever the terms of your chartered yacht contract, you must know at least enough about the Advance Provisioning Allowance (APA). This amounts to around 5% for an “all inclusive” and about 20-25% of the charter fee which covers for a “plus all expenses” 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 an active account that will show you how the funds are being used, and towards the end of the charter, the captain will also give you a detailed accounting that will also entail funds that have not been spent 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?
Understanding your charter’s base price is simply your starting point, however, depending on where you are located geographically, which often affects the terms of your contract, may be covered in the base cost of your charter more or less.
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 basic wine selection with each meal and charge only for particular vintage upgrades, while another yacht may offer a la carte wines.
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 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, its crew, how it was built, when it was launched, the range of its features, and its bonuses – is definitely a big factor that affect how much the cost of the charter will be.