These vids are absolutely great. Especially considering it's an opinion from a boat marketing industry professional. Anyone in the market for motor yachts will Love it! Thanks!
You showed the crew cabin - would someone really have crew in a boat of this size? Didn’t mention in costs..? Would surely be better use as garage for toys in my opinion
@Fred Basset Thank you. I know the Nordhavn specialist, very informative vids, but just so little content. Who is that technician you mentioned, if you don't mind sharing..
Unfortunately in the real world the depreciation is far greater than that, I was the skipper of a brand new Princess 65 flybridge yacht which cost us £1.1m and it arrived from the factory with 168 faults which took princess 3 years to put right. At the end of 3 years the boat was perfect and we sold her for £550,000. The owner had about 60 nights on board in all that time. They really are a huge hole in the water to throw your money into, but fabulous fun.
Wow, that was a lot to loose in 3 years. Just in depreciation that works out to 9,166 pound per night. Then you put your wage in, fuel, insurance etc that works out to a lot of money for one night. Spending all that money, it must have been an amazing amount of fun each night? You are right though, they are a huge hole in the water to throw your money into.
@@spacewalktraveller1 yes it does not make any sense to buy a new yacht, my advice would be to buy them at 5 years old when everything has been done to them all faults ironed out and lots of servicing has been done, they should still look new but for a third of the new price.
@@captaindave47 Thanks for the reply. I was surprised when you said the boat had 168 fault, I though Princess was a top notch boat builder and they took 3 years to fix the problems. I'll take your advise and get a second hand boat, otherwise you are throwing a lot of money away.
>>At the end of 3 years the boat was perfect and we sold her for £550,000 Was this during the 2008 financial crash or something? Was this part of a deal that might be partly money laundering? Similar models that are over 10 years old are currently going for a few hundred thousand more than that.
@@spacewalktraveller1 no it was before the financial crisis of 2008. We had it on the market for quite a while before accepting that offer, we were planning on buying a new 25 meter yacht but the owner for cancer and the family decided to get out of boating until they knew the outcome. I think that's why they took the low offer. It's always a buyer's market when it comes to boats.
Great video. Ive never seen a video talking about the costs in such detail. We all hear the silly figures of superyachts, so to see figures for 60ft boats is realistic. Out of interest, what is the ratio of your customers who buy in cash vs finance to purchase a typical 60ft Princess?
Well at that level it may be cheaper to buy on finance thereby maintaining your lump sum for investment at a higher rate of return rather than a boat of depreciating value.
Beautiful boat,love that extra storage instead of the useless sofa. Great tour, 8.5 for the roll in the master-execution was perfect but the finish was awful!
Love all the information, presented in a very likeable manner! For a man who lives the furthest from the water in Northants I love to see all of your content, keep up the great work 👍🏼👏🏼👏🏼👏🏼
Wonderful video! Would you happen to have fuel mileage if most of the traveling was done at displacement speeds? I'm guessing 8-12 knots for a boat like that, correct? I know that this type of boat is designed to cruise on plane, but for coastal cruising such as on the east coast of the US, many times it's more about the journey than the destination, so speed isn't really a factor except in cases of emergency or outrunning a storm. Thank you!
If that's your plan you're much better off getting a semi-displacement hull. You'll still be able to out-gun a storm but your displacement mileage will be a lot better.
Hmmm... Interesting video as well as fascinating facts. I can't afford $1.45 million boat but I think I can afford $200k boat. Probably 10-15 years old...
Great Video and Great job explaining some of the costs, which I should point out are subjective. Obviously the fuel costs you mentioned would vary depending on how much cruising one does in a year. If you pay cash which I'm sure some people can do, then the financing and interest normally attached to it would be void. In North America as I am then berthing could be cheaper depending on the location and the Marina. Again some people might be berthing their yacht at their home which is located on the water front. Insurance I assume would also depend on whether you are a seasoned boater or new to the market. Having said all that I did like the fact that you gave your best attempt to make people more aware what the costs of ownership really are. Some things which I always look for which I think you didn't mention is; What is the beam length? What size is the black water and fresh water tanks. What is the cost of pumping out the black water tank? Thanks
Great information enjoyed the content how about the cost of hiring a professional crew to run the boat for the lazy people lol. Ps I have money to buy a boat but wondered if people actually do this.
Personally, speaking, I would purchase the boat with cash That way you can save on interest, and any banking charges you would have to go through. I usually have a philosophy and that is if you can afford the price of the boat all of the other stuff that you have to go through is easy. It’s when you gotta ask questions on how much things cost then you’re gonna have to step back and look at your financial picture in a bigger perspective before committing into purchasing something like this. I had boats before and let me tell you from experience they are money pits they can be if you buy brand new, not so much for the first couple of years and depending on how much you would utilize the boat but after that, they can get to be expensive some people would be categorized as more money than brains. that’s why I would purchase things like that because I don’t worry about the cost of keeping a boat that size. And also personally, I wouldn’t have a crew for a boat that size. I would operate the boat myself with my family. 😎
The galley right behind the helm has never done it for me. It should always be contiguous to the cockpit IMO for better flow. Never have I fancied that layout! Beautiful craftsmanship nonetheless as one can always expect from Princess!
This 60 and the 56 are by a absolute country mile the best value on the market for a family owner run boat! When you look at today's new boat prices this 60 and 56 are an absolute bargain! Both have kitchen and separate dianette plus a large saloon without it used as dinning like newer models that don't have a separate dianette seating! 3 great sized cabins beautifully crafted fast top speed if needed and fantastic outdoor space for summer! You can get into almost every marina! A lot of people don't realize A lot of marinas won't accept any boat over 60 feet! Princess boats don't age in the looks they are modern and elegant and timeless! Great video happy sailing all!! 🛥⚓and God bless all 🙏❤
My friend used to work on a super yacht as an engineer. Forget capital which isn't great as an average a boat costs 10% of it's cost per year to run the boat. So a £20m boat is £2m.
No way on the costs ..I want to sail it for a few years .. that said ... Fuel etc. .. these expensive electric catamaran's start looking a good deal FFS 🤷
Just stumbled across this channel/video. Never seen a walk-though of a boat where a "floss-test" is done. I'm sold. Subbed. Also you are very funny and enjoyable to watch and listen too. Keep it up. :)
Boats are for people that are prepared to throw a lot of money away…running costs,fuel,fees,subscriptions,depreciation and much more. I know because I did it but woke up and sold it…at a huge loss…..if you accept massive losses then go ahead but at least go in eyes open.
Lovely boat James. The tour was as indepth as always. The salon is very spacious but the flybridge is awesome. The highlight of the tour was the breakdown of costing. Very seldom talked about, (almost never). Appreciate the info and tour, Thanks. Cheers
Basically to own and run this, we are looking at all the salary of 4-5 nurses working full time.. every year. You know you have made it if you casually can afford this kind of boat, to use it on a random weekend.
thanks for the vids. any idea about how much to ship a 60 foot princess to ft. lauderdale? is the air conditioning suitable for tropical climates such as bahamas? thanks so much!
excellent! So a $3M boat with a crew of 3... probably around 10%, 350-400k/yr... depending on how many engine hours and mooring costs, full time or part time crew...
In the UK - you don’t actually need anything but it’s wise to have ICC (international certificate of competency) and this is what you need for Europe anyway 😎
Thanks for the video it was interesting. Just one question. Why did you sit on the kitchen bench and read out how much it cost to run a boat? A kitchen bench is a place where you prepare food, not sit. Directly behind you was a very comfortable couch to sit on. Do you prepare your food on the couch at home?
@@Boatscouk Thanks for the reply. Don't blame your parents. You are responsible for your thoughts, feeling, emotions and your actions. You have no control over what other people do or say but you have full control over what you do or say. I wish you all the very best with your channel.
Another top video James! I have to admit I’ve become addicted to your videos! Superb socks this time! I don’t think this would fit in Tollesbury Marina. All I need is a Riva Aquarama. That’ll do me!
Love the content! Keep it up, please could you do some more videos of taking different boats out on the water for a spin, I remember a few months back you took one up the river for a spin that was great! Thanks
I’m not poor by any definition, but the fuel cost alone is my household’s entire discretionary money (take home less mortgage, bills, food and essentials) in a whole year.
You haven't changed much since school "See my socks" lol.... Great work. That screen reminded me of one of those invisibility screens people have been making.
Great video, I especially appreciate the cost calcs, although I think you left some major items out, such as the cost of supplies and food, crew costs if any, etc. Could you add them here or edit the video and add them in it? PS I was a professor of Naval Arch for 38 years (now an Emeritus prof) and taught these cost calcs all the time.
So as requested I am going to ask a question (and I also subscribed, as requested). When buying a yacht, is it better to buy it outright or better to finance it. This, of course, is if you are rich enough to flat out buy a yacht in one go. Also, is it better to try and manage all of this on your own or hire a yacht management company to oversee everything? And one more thing....sorry, but you did say to ask questions😂: Is it feasible to use one of these boats as your primary residence and do marinas even allow you to live aboard?
Borrowing money to finance a depreciating asset never made any sense. For an average user, it would be interesting to see how much that would equate to per hour actually spent on board. Chartering a similar vessel, complete with crew, meals and toys, without all the upkeep hassles, might well make more sense for a lot of people. As my old man used to say, "if it flies or floats, rent it".
Hi james - if you start analysing things too closely then you might not be for boating. I always say to customers - do you want have fun or do you want to make money? Most of the time you cannot do both but boating gives you priceless memories and what cost can put on that ? 😊
Appreciate the breakdown. I assume going slower (displacement speed) would be less savage on fuel but in the big picture wouldn’t make much difference. Cheers
Great rundown of costs, great video as always….one question, do you get a lot of lottery winners buying boats/yachts outright? Or does everyone who buys a boat/yacht use finance?
Hi James, great video and fantastic boat. Need to win the lotto first then I'll be down lol 😆. I know you do the sale's of boat, would like to ask on the RYA training for a boat that size? Look around and I found different information on Internet, a bit confusing. Hope you help. Thanks
You are a funny man, in the best sense. Great information. Please keep the roll across the bed in each video... very James Bond!! From a glum overcast Sydney.
Just subscribed because I'm considering buying a boat. You've shocked me with the annual running costs. I'm going to need to halve everything to afford to get on the water. Smaller boat & no finance for starters.
