Before buying our first boat my wife asked one night over dinner “What is the Cost of owning a yacht?” I was taken back as I had not researched this very important question.
“What is the true cost of yacht ownership?”
The next morning I awoke early and started pouring over the vast amount of information I could find on the internet that lent itself to the true cost of owning a yacht. Wow! This was the one topic hardly ever discussed by brokers yet a very important one. Owning a yacht service company is incredibly helpful when it comes to sourcing these true costs as we bill for them daily but to get an introspective look into the true cost of owning a yacht I reached out to my favorite yacht brokers and yacht owners. Over the course of 1 week I must have spent 5 hours hearing stories-good and bad-about the selection process of buying a yacht and how it can effect the cost of owner ship.
I found that the 3 most costly factors in yacht ownership are..
Yacht Crew are necessary for vessels over 80 feet and on average costs the owner $6,500 per crew member, per month for vessels up to 120 feet in length. How many crew members are necessary depends on the capability of the hired crew and the level of service demand by the yacht owner. While yacht captains and engineers typically make $750-$900 per ft per year mates, deck hands and stewardess typically make %20-50% less depending on the experience they bring to the yacht team and demands of the yachting program. So do the math.. 80 ft boat, 2 crew members $13,000 per month. 130 ft boat 5 crew members $32,500 per month.
The cost of Yacht Maintenance becomes more costly as the age of your boat approaches 5 years, it’s at this time that boat repairs become more frequent because of misc batteries,pumps and seals throughout the boat expiring, it’s at this time that gelcoat repairs and yacht paint repairs become more frequent as well. It’s safe to say that the following scale is a fair measure for the cost of yacht maintenance on boats 1-10 years old based off the value of the boat. Keep in mind these cost don’t include fuel and food for the adventures ahead.
- 2% of boat value-this is relatively low because often time repairs and maintenance are included in the warrantee provided for by the yacht manufacturer
- 2.5% of boat value-warrantee usually expires for the yacht at the end of this year
- 3 % year 3 is a great year for the boat as many of the shortcomings from build are already sorted out
- 6 % -often times many consumable maintenance items need replacement
- 6 %
- 7 %
- 7.5 %
Just like Realestate, wherever people want to be.. the prices for yacht dockage are typically higher. The cost of running and operating a marina can be high so the most dependable and desirable marinas usually have higher rates. Sometimes summer time rates help ease this expense but on average price for dockage is between .50 cents- $3.00 per ft per day. So for an 80 ft boat low end dockage is $1,200 per month and high end dockage can be $6,000 per month–of course the higher cost puts you near the designer shop and chic restaurants of your favorite port town;)
Freedom Yacht Services specializes in delivering affordable yacht services and solutions for your yachting lifestyle. Whether it’s helping you purchase a new boat, sell your existing boat, servicing your boat or detailing your boat we are here to help-located at the biggest do it yourself shipyard in the states-Lauderdale Marine Center Call today..954-732-8916
Top 10 Recommended Paint/Gel coat maintenance tips after waxing your boat
WASH DOWN REMINDERS
- If using water from the dock make sure it goes through a proper wet spot water filter to remove hard minerals.
- Using onboard water is optimal as it usually goes through a few staging filters to provide the softest cleanest water.
- For the 1st couple of weeks your initial rinse before wash will remove 80% of salt and dirt.
- Remember you can never give a boat enough water so soak really good before applying soap and mitt to clean your boat.
- All though we recommend Johnson and Johnson baby shampoo as an ideal wash down soap after waxing your boat because of it’s near neutral PH, any soft automotive gel-soap will work (Mcquires Gold automotive soap is good)
- Make sure to use proper concentrate to water ratio -it’s best to fill your bucket with water 1st before adding soap to prevent over concentration that will burn your boats painted surface.
- We recommend a soft wool pad that wraps around a backing plate and onto the shurhold pole, often used to wash overheads this pad minimizes friction.
- Use Soft blue Shurhold deck brushes only should you not like using the wool pad, remember Yellow bristle Brushes are a bit course and only to be used on the decks and or Hull.
- We highly recommend buying a few bottles of Permanon wash down gel soap-USE 1 time per month while washing your boat-this will clean and add wax to the existing coating to help bolster it.
- Buy some Permanon maintenance spray, this applies like an instant detail, just spray on (wipe in with a clean micro-fiber and remove with another clean micro-fiber) this spray is excellent for every type of surface-just remember to do small areas at a time when applying in direct sunlight-it’s best to apply in the shade.
Needing your boat detailed?
Needing your boat waxed or put on a regular maintenance plan?
Call Freedom Yacht Services Today for a free estimate! 954-732-8916
As with any piece of property, if you are planning to sell it, you will want to increase the value in any way you can. Much in the same way a house can be revamped and remodeled, a yacht can be as well. One way to do so is through a paint gelcoat restoration. This paint gelcoat restoration can increase the value of your yacht and make it more attractive to prospective buyers. In this article, we will discuss several ways in which a paint gelcoat restoration can totally revamp your yacht.
The project will give you a great ROI.
ROI stands for “return on investment,” which basically means that the money you put into a project will end up being made back—and then some—when you are able to put your remodeled piece of work onto the market. A gelcoat restoration improves the appearance of your yacht, and, as every owner knows, yachts are prone to dulling and wear-and-tear. The project will cost money, and it will also require some hard work, but it will be worth it, monetarily, in the end.
A gelcoat restoration will greatly improve the appearance of your yacht
Boats go through a lot as a result of the natural wear-and-tear of the ocean or lake. Although yachts are luxurious; they are, after all, piece of equipment just like any other. A gelcoat restoration involves multiple steps, all of which are geared toward both cleaning and shining the yacht. Cleaning, degreasing, waxing, and polishing are all some of the various ways that you can go about restoring your yacht to its former glory. A gelcoat restoration will make your boat shine.
Consumers appreciate effort
We are all consumers in some form or another, and, as consumers, we appreciate when someone has noticeably worked hard on a product we’re buying. Buyers take notice when someone has tried to make something as excellent as possible. Presenting someone with a dull or dingy yacht and asking them to buy it may be viewed as an insult to the buyer, and you likely won’t get many offers. Restoring your yacht’s gelcoat shows that you’ve paid great attention to your boat, and consumers will find that an attractive selling point.
A gelcoat restoration will make your yacht sale competitive
Currently on the market, you see many different products offering gelcoat restoration kits and how-to guides. This is because the process of restoring your boat has become much more popular, as boat owners want to be able to compete with newer yachts on the market. A gelcoat restoration will keep your yacht looking just as valuable and consumer-worthy as others out there. Without such care and dedication, it’s probable that your boat will not be noticed.
It’s a relatively easy revamp for the price
There are many other, much more expensive ways a yacht can be restored. This aesthetic adjustment is relatively inexpensive, but it is vitally important. Your yacht’s internal gear and seating could be top-notch, but if the outside looks shabby, buyers won’t want it. They don’t want to go through the hassle of gelcoat restoration themselves, and it’s easier to choose a boat at a higher price that has already been labored over and needs no new adjustments.
Compared to a new motor, new upholstery, new machinery, and other costly tune-ups, a gelcoat restoration is relatively simple and easy-to-do. It is also timely. It shouldn’t take very long, as the drying phase, depending on the method of your choice, can be shortened. It also lasts for a decent amount of time—your boat could shine for a year after your gelcoat restoration.
If you’re looking to increase the value and appearance of your yacht, a gelcoat restoration is the way to do so. It is cost-effective, timely, and will last for a while. This revamp will not go unnoticed by consumers, who will be willing to pay more for your yacht.
Florida is known as “The Sunshine State” for its beautiful weather and perfect beaches. It is also well-known for its nautical scene, and there are many boat owners and renters throughout the state. According to the National Marine Manufacturers Association, Florida is the #1 spot for boat registrations in the US, and it had nearly one million registered boats as of 2010. With all of this nautical ownership, there is a lot of detailing that goes on for boats and yachts. In this article, we will discuss five reasons why mobile boat and yacht detailing is catching on so quickly in Florida. But first, here is a brief overview of what this “detailing” actually entails.
What is mobile boat and yacht detailing?
To use Freedom Yacht Services as an example, mobile boat and yacht detailing involves cleaning and maintaining boats to make them as beautiful and attractive. Whether this detailing is for personal use or is being undertaken in the hopes of increasing a boat or yacht’s value on the market; cleaning, shining, painting, waxing, and other boat-improvement processes will make your vessel sparkle. The “mobile” part refers to a company that travels to the boat owner themselves, which is much more convenient.
Now that the “what” of boat and yacht detailing has been covered, here are five reasons that it is so popular in Florida
#1: Boats get a lot of wear-and-tear in Florida.
There are, on average, 246 days of partial (partly cloudy) or total sun in Florida per year. This means that people are out and active, and taking their boats out so frequently leads to the need to have them cleaned and detailed often. This is not uncommon for any heavily-used equipment, and this detailing keeps them fresh and clean.
#2: Both the Atlantic and the Gulf are rough.
All oceans have their rough points, and the Atlantic and Gulf are no exception. The Atlantic and Gulf have the tendency to get choppy, and there is a large debris patch in the northern part of the ocean. Around 64,000 plastic pieces were removed from just off the coast of Bermuda several years ago. The Gulf oil spill was also a major source of pollution, and the most recent one leaked thousands more gallons into the sea. The Atlantic and Gulf seas are both hard on boats and yachts.
#3: Appearance matters.
Because boats and yachts are out on the water so frequently in Florida, and also because there are so many of them, boat owners become more passionate about their vessels. Whether someone is a novice at yachting or boating or a professional, people take pride in their watercraft. Florida opens up a new avenue for people looking for a new adventure or activity (especially for retirees).
#4: The Floridian climate necessitates thorough upkeep
Florida, despite all the sunshine, is also known for its storms. Due to the fact that many boats are docked outdoors, this harsh weather can seriously and extensively affect both the external and internal surfaces and aspects of the boat, making detailing and cleaning a necessity.
#5: Mobile is more convenient
There are a lot of boats in Florida, and there are also a lot of retirees who may not feel like lugging their boat over to a stationary shop. A mobile boat and yachting detail shop makes things much more convenient, as the employees come to you and service your boat there, making for a less complicated and less difficult trip.
Florida is a beautiful state with many opportunities for fledgling or expert boat/yacht owners to get out there and enjoy themselves. With the Atlantic and Gulf being a little rough, as well as a Floridian climate that necessitates frequent boat cleaning, mobile detailing is the most convenient and advantageous option for owners looking to beautify their boat or yacht.
Did you know you could avoid most yacht & boat repair with regular yacht & boat detailing? That’s right, you don’t have to worry about footing the bill for this year’s yacht & boat painting if you just contact your local Miami detailer and schedule a regular appointment. If you’re a little skeptical, take a look at the some of the most frequent yacht & boat repair issues for nearly every type of vessel.
When you’ve invested in the boat of your dreams, you want to keep your new watercraft in good shape for as long as possible. Boat detailing is an essential part of boat maintenance because the process gives the boat added protection against the elements. You don’t want to trust any amateur with such an important task! That’s why it’s important to be familiar with the process, so you can spot quality yacht detailing when you see it.