Super-yachts (usually defined as any luxury yacht – sail or motor – over 24 metres) are seen in luxury locations throughout the world; in the Mediterranean and in the Caribbean, and from Sydney to Miami. For many ‘ultra-rich’ people owning, entertaining and being seen in your private yacht is the the ultimate goal and symbol of your success.
While some of the best known super-yachts are owned by royalty and the wizards of Silicon Valley, most people who own their own super-yacht are captains of industry; hedge fund managers, entrepreneurs and industrialists from old and emerging markets.
But most of the super-yachts you will see in Abu Dhabi or Monaco for the Grands Prix, in Cannes for the Film Festival or for the cruising season in St Barts, St Thomas or Antigua are not owned but chartered for anything from a week to a season. Many people who could afford to own and run a super-yacht choose to charter because they do not need the yacht all year round and it is enormously expensive to run and to maintain, whether you are actually using the yacht or not.
Typically it will cost up to half a million Euros to fill the tank of a chartered super-yacht with diesel; and that is likely to last you for a month or so. Even when the yacht is not being used it will cost unbelievable large sums to moor and to maintain. In addition most super-yachts must be removed from the water every two or three years for a major overhaul which will include essential repairs and the installation of new equipment and systems.