There are several factors to consider when figuring out how much it costs to charter a private yacht. These factors include the Base price, APA (Application Processing Authority), High season and low season, and docking fees.
Base price
Several factors affect the cost of chartering a private yacht like The Adventuress Luxury Catamaran. One of these factors is the yacht’s base price. Typically, the more famous and iconic the ship, the higher its rate will be. Another factor is whether the boat has unique features, such as cinema, that make it more expensive.
In addition to the base price, charter brokers charge a small additional fee for provisions. This allowance is typically around 25 to 35% of the base price. This fee helps cover the cost of the captain’s expenses, and you will receive a detailed bill at the end of the charter. You can also purchase curtailment or cancellation insurance, covering your costs in unforeseen circumstances. Finally, keep in mind that the base price of the yacht does not include taxes and VAT, which vary according to your location.
The base price of a private yacht does not include the cost of running it. APA covers fuel and dockage arrangements. Other expenses are separate. The price for these expenses is often based on a percentage of the base price, with the charterer’s remaining costs payable in cash.
APA
When owners enter their vessels into the charter market, they want to maximize their income. The APA process is a collaborative effort between the charter broker and captain. The charter broker coordinates the yacht’s operations with the captain and crew. The captain is ultimately responsible for the expenditure of APA funds by the team. One of the most common causes of dissatisfaction is confusion about the APA process. To avoid this, attention to detail and confirmation of preferences is critical.
APA rates are a percentage of the charter fee and vary depending on the number of guests, itinerary, and preferences of the charter party. The APA should be paid simultaneously as the final charter payment. This ensures that the Captain and Crew can adequately prepare for the charter.
High season vs. low season
When chartering a private yacht, it’s essential to know when to book. Winter months are popular chartering seasons for boats, as the weather and climate are generally quite pleasant. However, some months of the year are terrible, with hurricanes and gale-force winds. If you want to avoid the worst weather, opt for a warm destination year-round, such as Florida or the Caribbean.
Charter prices usually fluctuate, so if you’re unsure of when the best time is to charter a private yacht, consult your charter broker. Generally, prices are higher in the high season than in the low season. Also, keep in mind that costs are calculated based on specific dates, so if you want to spend New Year’s Eve sailing in Monaco, you’ll have to spend more than usual. Similarly, if you’re planning a charter near the Olympics, expect to spend more than you’d pay on a typical day.
Docking fees
Docking fees for a private yacht vary by location and length of stay. Depending on the facility, they can range from a flat daily rate to a metered rate. Some marinas also charge a liveaboard fee for using the amenities. A vessel is considered a liveaboard if it stays at least ten days a month at a marina.
Depending on the size and location of the yacht, the docking fee can be as much as a hundred dollars per foot. These fees can be included in the charter agreement for a private boat. The highest prices for docking are in the Mediterranean during high seasons, such as in Capri and St. Tropez. Docking fees are also higher in locations such as the Arctic Circle and Antarctica because permits are required to access these locations. Some destinations also charge a VAT or tax on the total amount.
Crew gratuities
A private yacht’s crew should receive an appropriate gratuity, and you can do so in various ways. Many brokers suggest that you hand the captain an envelope filled with cash. In addition to money, you can also give the crew an advance provisioning allowance. The level of compensation is often influenced by the level of service and satisfaction the team provides. A generous gratuity can go a long way toward making the charter a pleasant experience for all concerned.
Most crews accept cash, which is easier to distribute than a check. You can also use an instant money transfer app such as Zelle or Venmo to make your payment. Alternatively, you can pre-pay your tip and wire it directly to the yacht at the end of the charter. Regardless of your chosen method, a charter broker can guide you on how to tip the crew appropriately.
