How much does a 50-120 foot yacht cost? There’s quite a difference between yachts in that range, and of course, you have the option of buying used. A used yacht is still going to be luxurious. To help put things into perspective and make the prices seem lower, allow me to introduce to you the world’s largest yacht, called Azzam, and he is 590 feet long. Do you know how much he cost his owner?
The cost was $600m. Now looking at 50-120 foot yachts is going to seem a little more reasonable. You can buy a used or smaller yacht for as little as $1.5m. But let’s just say the average price is around $8.4m. In this case, you are looking for a vessel that is at least 50 feet long. I mention that because most yacht owners have a vessel that is about half that size.
At the same time, you are looking at possibly more than double the size of the yacht you plan to buy, considering you are looking at vessels that are up to 120 feet in length. And of course, there are the maintenance costs. Let’s say you purchase a yacht that costs you $10m. Experts say that you’re going to spend on average about $1m a year in maintenance costs.
As you can see, yachts are expensive to maintain. But that’s the cost of ownership, and you’re going to be able to take all kinds of sailing trips. Invite family and friends, throw holiday parties and have a grand time. For a 50 foot yacht, I wouldn’t expect to pay less than $10m. And you already know the prices can skyrocket from there, so keep that figure in mind for your bottom line. It’s time to search the listings to see what you find.
Nevertheless, when purchasing a yacht you always have the option to rent it out and make back someone of your money. Depending on how often you plan to use it, the yacht can be rented out a great percentage of the time. Most yacht owners don’t use it every week, and even if they do it still leaves them a lot of time to make some money with it. If you don’t mind your yacht being recognized in the Miami yacht rental scene and hosting parties every weekend, yacht rental companies like RNR Yacht Rentals are always looking for owners who want to rent out their boat year-round. Depending on where you live and where your yacht is docked will be the determining factors in how often you’ll be able to rent it.