Yacht maintenance costs: what’s the price tag?
Why is buying your own yacht not good idea? The fact is that most of us go to the sea 1-3 times a year. And your own is the cost of maintaining it, wasting time preparing the vessel for the season, – tying the rest to one location (water area). Therefore, renting boats partially solves this problem. For example, in spring you can ride in Spain, summer in Croatia, autumn in Greece. Remarkably, the cost of such trips will be much less than the maintenance of your own yacht. However, if you are determined to buy, then let’s talk about how much money you need to spend on your boat in a season?
If you do not go into details, then the maintenance of costs its owner from 5% to 15% per-year. The percentage is calculated from the initial vessel price. Actual price depend on the age, type, parking and the ability to carry out repairs yourself.
The older the yacht, the bigger problems
The best option for buying is considered to be a three-year-old vessel, since during this time it loses up to 30% of the initial cost and passes the necessary reliability checks (what could break – broke, then repaired or changed).
Still, in UA the average age of ships is over 12 years. Such boats are like old country houses – everything is collapsing, falling off and in need of repair. In other words, 10-year-old ones have wear & tear on many components (batteries that have run down in the second round, failed pumps, collapsed seals, a broken generator, a failed engine, a battered hull coating). Pay attention to when buying a used one.
How does the type of boat affect maintenance costs?
Sailing, unlike motorboats, have a small motor that is rarely used, which means it breaks less often.
Technical work on motor boats is tied to engine hours. Even if you did not go out and it stood at the pier all year, but the generator worked, you will have to spend money on service. The conditional limit for maintenance is 150 hours. In addition, large VIP-yachts also require refueling. At maximum speed, consumption can be 100-300 liters per hour on each engine. For example, a 50-foot motoryacht (15 meters) from Kyiv to Odessa consumes 2000 liters of diesel at a leisurely pace.

Parking place + winter storage
In the article, how to choose a yacht club, we talk about the features of parking in Kyiv. The location of the boat affects the monthly payment, the possibility of lifting and lowering for the winter and additional options. In Europe, the location also affects the payment of taxes, duties. The average price of a monthly parking in Kyiv or Odessa, taking into account the connection to electricity & water, will cost approximately 100-500 euros. At the same time, guest mooring of a 55-foot catamaran, somewhere near Croatia in a protected area during the high season, can run you 300 euros per night.
A few words about winter storage. On average, the price for a month is 3-4 times cheaper than paying for parking during the season. Plus, the lifting and lowering of the vessel into the water is paid separately. Also, the boat is covered with a disposable awning or a reusable cover is specially sewn. The boathouse is considered the most expensive option for storing – a dry / warm room. Usually the ship is placed in such a hangar when a long-term repair is required in a dry, heated room.
Repair & Maintenance
This is the most painful topic in Ukraine. If you are able to independently carry out repairs and maintenance of the vessel, you are the happiest owner. You can even buy a 12-year-old one to refit.
If you google it, then there are enough offices engaged in yacht repairs. Conscientious masters come across, but for this you will have to figure out the problem yourself – control the repair process.

Registration of a vessel under the flag of Ukraine
In 2020, the regulations in Ukraine were updated: boats up to 4 meters with motors up to 10 kW are no longer registered, and small ones for non-commercial, personal use do not have to undergo technical inspection.
On the one hand, the registration of the vessel in UA is the responsibility of the owner, on the other hand, there is no single procedure. Evasion of vessel registration in the Ship Book of Ukraine – a fine of 20 non-taxable minimums.
Also on the Dnieper and in the Black Sea you can meet a sufficient number of ships not under the Ukrainian flag. No, these are not guests from far abroad, but Ukrainians who brought a boat to Ukraine as a temporary import. In order not to pay VAT during customs clearance, they have to take it out of the customs territory of country every year.
Yacht insurance
In Ukraine, the issue of ship insurance is regulated ambiguously (as of the end of 2021). The cost of insurance is approximately 1-5% of the vessel-price. In Europe, for example, insurance for a 45-foot boat runs from 1,000 to 7,000 euros, depending on the franchise and the age of the vessel.
Formally, some shipowners purchase ukrainian insurance, but we do not know how compensation is paid. At the same time, the theft of outboard motors on small boats is common in our country.
How much do millionaires spend on maintaining their superyachts?
Having bought a dream-yacht, the owners run to pay VAT. The amount of duty is from 15 to 25%. Since it worth millions, the amount is substantial.

Point number two. The bigger vessel, the bigger staff. Let’s look at the example of a 30-meter boat in Europe. It requires 5 crew members on board. The captain’s month salary starts from $7,000, the salary of an assistant captain, engineer, stewardess, sailor – from $3,000. Also, regardless of how many months you plan to be on board, the contract with the crew is signed for a year. In addition to the salary, medical insurance, civil liability insurance, training and the purchase of uniforms are paid. It looks like we can safely get a job as a sailor in a European shipyard.
While the vessel is in the marina, the parking bill increases, and with access to the open sea, the figure in another column of expenses increases – fuel. According to Forbes journalists, a 71-meter one in active use spends $400,000 a year on fuel.
Insurance. Here they take 0.5–0.7% of the original price. At a price of $10 million, you will pay a $50,000 premium.
Another huge cost item is maintenance. For example, planned preventive maintenance reaches 2%, and all routine maintenance of a 10-year-old – 7.5% of the yacht’s value.
Do not forget about other waste of money – administrative expenses, additional decor, purchase of food, drinks etc.
For the first year, 10% of the original cost of the superyacht is spent. This is comparable to renting a similar charter for almost six and a half weeks. Is it a lot? You try to find in your schedule about 2 months of free time!
Do not forget that the price of new boats falls by 10% every year.
But despite all the above calculations, the number of superyachts is only growing. Over the past couple of years, sales growth has doubled. In 2021, 887 superyachts (80+ meters) were sold.