Because if you want to please your master maybe you will show him this video. lol jk, because everyone can dream and get inspired to do something big. Help 1 million people with a problem and charge them $10 each and you will have your yacht. Bill gates helped 1 billion people with the software they needed and charged them $100 thus he has his wealth.
Read my post above: I owned a 30 footer and kept it at a marina just on the edge of a major canadian city. It did almost bankrupt me but let me tell you: it was worth every penny! OMG the times I had.....naked women, booze, parties, rafting parties, cruising around Lake Ontario...... I say "it was the best worst mistake I ever made and wouldn't trade it for the world".....
My first boat was bought with the help of Ms Lyra Holt Dean. Sailing is thousands of years old and we continue this long-lasting, intriguing and at the same time dangerous tradition! Throughout history sailing has helped various civilizations to develop and prosper as people sailed accross oceans to settle in new undiscovered areas. Each time we set a sail it’s as if you could feel the same excitement, uncertainty and craving for adventure as it used to be thousands of years ago. In a way sailing is like a bridge connecting us with times long lost.
@Lewis Hamilton NO, we are just business partners. She is a financial Analyst I met in 2012 that changed my perspective about making money and spending money. We all need someone like that.
I’m 84, a retired attorney, in and out of the movie industry as a producer and executive, owner of real estate and general investments, even owned race horses (awful investment), and radio stations. I have never owned a yacht though I have sailed on a variety of them. To listen to a man who is obviously a multi-millionaire and not a publicity seeking jerk is a fabulous pleasure. I wish my clients had all been so down to earth. I've never met him, but trust me on this, the "owner" is a find. Listen to his words of wisdom. They are the equivalent of a college education!
i was a chef on a yacht for 7 years and did not encounter many of that size that did not employ a full time chef. $100K or more per year is average pay. Expenses for food were about $50K a year. Fueling the yacht depended on fuel price, $30K per fuel dock visit was average. Our yacht was busy and ran year round and we also chartered, which does offset the cost to the owner.
Did you get the yacht chef job after you reached Michelin star level of cooking or did you work your way up apprenticing under other yacht chefs? 7 years as a yacht chef. wow! Your an iron man. props
Absolutely wonderful video David. I owned a 35 foot Searay for about 10 years, and while there is no comparison in size, the factors scaled exactly the same, and all your rules applied. In the end, its an expense and investment that translated into quality of life, and THAT is the value proposition to evaluate. It didn't matter if i was cruising Michigan's Great Lakes, or polishing my deck in my slip, the only time i completely forgot about my business, my problems, my customers, and the stress of life, was onboard. You truly understand what your product is, and what your customers need. Wish you much success.
I can fully aggree! Skipping make the head empty from that business crap and all other problems around. It´s all about family prime time, food, weather and the sea.
As a Captain with over twenty years experience on Super Yachts this is one of the best if not the best video I’ve seen that lays out honest operational cost of owning a MY. You can’t always cover the little things but you’ve done a great job describing the major costs of a vessel this size. I wish more brokers were as honest and up front as yourself as my experience has lead me to believe otherwise. Thanks you 🙏
My mini yacht cost me $1400 ten years ago. Fuel, crew, and maintenance have totaled exactly $0. I love my Hobie kayak! Mowing yards has really paid off 😋
yes, my hobie was a gateway yacht ( 16' revolution) . then i got a second (14' outland) , then a third (14' pro angler) finally an tandem island adventure sailing hobie. 4 kayaks, two trailers, and a achilles 11' inflatable with 9 horse evinrude outboard.
What I have learned a long time ago, is if you need to ask, you cannot afford. For example, if you have a powered yacht, find out what a new engine will cost. This is a reasonable expectation. Can you pay for one and have it fitted?
I will never have a yacht in this lifetime. But I sure do enjoy watching these extremely well-made videos. The host is amazingly down to earth, and I find myself enjoying learning from him about something I shoudn't have any interest in. That being so, count me in--a thumb up and I've subscribed.
Clear and precise information...what a breath of fresh air. Normally when I watch all these yachts for sale videos the price is NEVER discussed nor are the costs of running it. Thank you!
David, your explanation of who a yacht owner is, and your admiration for their immense sacrifice they make to convert pennies to dollars, and thousands to millions, then finally enjoy it, is spot on. I used to build multi-million dollar homes. I was honored to hear the wisdom of these entrepreneurs.
@@regulusforrester6429 yeah, but I guess it has serious downsides too. You always have to match your own schedule according to the owner's liking, longer periods away from a home, and in the case the owner is a Saudi brad prince or something like that I wouldn't be sure if his temper will never involve you in a negative way.
@@mpc007 Being hired is a two way street. You are not REQUIRED to apply for any job. If you don't want to work for the Saudis then don't apply to those jobs.
vtrmcs I agree with you that boats are getting bigger and bigger. Yes times change and a 30 meter looks small but to a middle class citizen it's still a yatch.
Not really. The nightmare comes with the competitive nature of yacht owners. You can also charter out your yacht and they basically would pay the bills for you. You can throw a big party every week just on the harbour and you’d make a profit from it.
Study engineering, go to course for using yachts or sailing. Become your own crew, enjoy your cruise with your friends and friends only. And maybe on your own alone.
@@KingSalami407 so you are saying that i won't be able to cruise alone, on my own craft. We are not talking about megayachts in here if its below, a certain limit ( lets say 20-25 meters) you should be fine whether if its a sailing or motor yacht.
@@KingSalami407 depends of your background. if you have or had a career or experience as a maritime officer you probably already got all the paperwork to sail it yourself.
Great vlog David. Answered many of the questions I’ve had. I can see the advantages of having a yacht over a vacation home. Thanks so much for the channel
If you ever do a similar video to this, you might include the potential revenues, charters, etc., that might offset these costs. Great video! THANK YOU!
Several years ago I had a 216" yacht. I didn't have a crew but it always needed something to be fixed or replaced. I did lots of the work myself & I enjoyed it but it was a financial burden for a relatively poor college student.
Thank you, great discussion. Think 10%. Like every business owner will tell you it pays to have good employees, keeping and retaining good ones is tough. Think about how restaurants treat one of the most important positions, Dishwasher (not only for clean dinnerware but pots and pans) also a good "swing person" (plate salads, prep vegetables, run for the chef), if you don't have a great dishwasher (like facility, chef, service) you are on an unsteady foundation. Pay them better than next door/down the block, and get them involved (train) in other aspects (chefs assistant). Yacht vs private jet (car, hotel...etc). Some have said a boat is just a hole in the water to throw money into.
Good to see there are people who thinks alike, makes feel less mindset lonely. Tks. Almost no one analyses costs, not even for a car yearly expenses. Additionally excellent lecture of hard rock data and philosophical approach (inherent two sides of a coin). Good pace, awesome video, short and effectrive, wow.
I grew up on boats. So I can understand this. There have been several times in my life where I thought about selling the house and buying a nice yacht and going sailing for a few years. There is just something relaxing about being underway.
I came here via Nick's recommendation on Aquaholic, great presentation by you and very well done, just subscribed for your future videos, this was very informative, very transparent covering most of the points I needed information on, and very helpful, keep it up! Thanks
Great info. Thank you very much. It's a must see video for anyone related to yachts. (Telecom costs is another crazy feature "normal" owner try to avoid if they can) Great video. Congrats!
Thank you for making this video. An informed buyer/participant/student is more likely to do it well, and therefor more likely to make a positive contribution to the culture. That's better for everyone involved.
What you do for fun defines your economic status. Pick a number: 1) Poverty Level Poor - Wait until someone turns on the fire hydrant, then jump in with a $1 blow-up ball from Walmart. 2) Working Poor - Blow up boat or dingy then go fishing. 3) Working Class - Rent a row boat and share the cost with a friend. 4) Middle Class - Rent a Jet Ski, Wave Runner or speed boat. 5) Upper Middle Class - Buy a power boat or a sail boat and drive/sail it yourself. 6) Wealthy - Buy a large boat with multiple levels and drive it yourself. 7) Rich - Get a medium size yacht with a few crew members and a captain to drive you around. 8) Filthy Rich - Get a large yacht with crew, chef and captain and sail around the world until you don't know what fuckin day it is.
I'm in the process of moving from a 45' to a 82' and our (family) intentions are to move to a 100+' in 4 or 5 years. I found this video extremely interesting, no crew cost for a 45', definitely affordable maintenance and berth cost in Liguria. Moving form 45' to 82' all costs get multiplied from 4 to 6 times, purchase apart. Moving from 82' to around 110/120' every cost will grow x3 again. Hope I'll be able to afford in a few years in order to spend 6 months living and working on board. Thank you for this really enlightening video and the things you say, plain and simple as they are.
@@Ismail-FIRE I own a quite successful IT business in the Netherlands serving customers like the European Commission and the Federal Ministry of Finance of Belgium and several other private customers. 160+ employees and contractors and growing.
I can't afford to buy anything like a yacht but I do enjoy watching your videos. Well made and entertaining. It gives me a glimpse inside a Club I don't belong to.
Great insights very much appreciated this one David. It was indeed something that was needed as it is, as you so rightly said, the price of the hay that will 'kill'you if you are not fully informed.
From 09:30 I believe those are the wisest words I've ever heard about wealth and lifestyle. Thank you for being candid, I think plenty of people forget about it.
Another great video, very nice estimation... still hidden costs for; registration, crew medical, Crew Liability Insurance, salary taxes, miscellaneous maintenance/repairs/rebuild (interior, Bow Thrusters, Stern Thruster, Anchor Stabilizers, Active Roll Stabilization, ), crew per diem and travel expenses, crew food, fuel/oil, water, Wireless Internet Card, Satellite TV, Satellite, Data Link)
If you are rich you don't have employees and pay all those associated items you mentioned. They are hired as contractors and contractors take care of those expenses on their own.
Take the horsepower and move the decimal over one place. A 100 HP engine burns 10 gallons per hour at full throttle. Assume the yacht cruises at half throttle for economy, cut the number in half. Many yachts list their fuel capacity and range.
Fascinating video David, thank you. I love the deckplan of the yacht on the wall behind you. What is she called?? Also, please tell me you're doing something with Vertige soon!!!! Good luck and all the best. Great channel!
Very informative video, thanks for this, I am sure that many people dream of owning a "boat" but when it comes to 100ft plus the expences can rocket, this video explains in the easiest of terms the basics of yacht ownership and is a great guide to the experience, so very well done.
Tim if you rent one for a couple months your spending millions, You do that every year for a few years and eventually it’ would have been cheaper to buy one.
Very informative. I'd imagine that a majority of yacht owners pay others to manage the hiring of the crew and coordinate all of the maintenance and servicing of their yacht, handling insurance and legal aspects of yacht ownership. I wouldn't know how to do all that is required, so seeking help by a firm that can handle all of the aspects you discuss in your video would be the best approach for me. Is Northrop&Johnson such a firm that provides "one stop-shopping"" for yacht management services? If not, who are the industry leaders?
Don't forget internet, provisions, soft goods, and exterior hull items like ropes and lines, gel coat, miscellaneous repair items, maybe a new dome for radar, radio equipment and charts, tender costs as well. It's death by a thousand cuts in some cases,especially an older yacht. But the advantage of an older yacht is it teaches you things and if you mess up on it, it's not as bad as a new build you waited 2 years for.
Great video....I love yachts but fly a private jet for a living. Our annual operating budget is around $1.25M USD for a Gulfstream IV. Thats roughly 1/4th of the initial purchase price on the used market. One of my previous owners had a 130 Westport(?) and the Capt was commenting on the operating costs. I spilled the beans on what it takes to run our gal and he was floored.
Great video, you hit the nail on the head, owning & importantly using your yacht is about happiness and reward. Yes, some buy to say I have made it in life but to me at least thats a little sad. The breakdown of prices are great although a good captains wage do change greatly when you own a considerably larger yacht. Also a good captain will know the great places to suggest you may like to visit which is an invaluable asset. As you say the staff make the yacht, treat them well and with respect and they will reward you and your guests and add to the experience of yacht ownership. Also if you want to be able to use your yacht any time of the year you may get the opportunity to keep the same crew who you will get to know which also improves ones experience. Yes a yacht is a big commitment know matter what the net worth of the individual may be but using the correct agencies and broker can keep ownership costs down as like anything else in life some people are in it just for the money. Really enjoy your videos and can't think of another broker who would make such an honest ownership breakdown of costs.
Great vlog David. 2 questions though, what currency are you using as you talk about dollar's and euros? Secondly, what vessel is that the layout for on your wall? It looks incredible. Cheers
Very informative and well done. I would also love to see a video on the running costs of the really big yachts (Dilbar, Eclipse, Azzam, etc.) though I can imagine those numbers would be more speculative than anything. I just cant see how the 10% rule would apply to a yacht that costs, say $600 million. $60 million dollars a year seems a bit high. I would imagine that as you go up in size, eventually the costs start to level off around the $20m-$30m a year mark.
i think your rite the bigger the yacht the less fuel and crew you need proportional to the size and price of the ship a 100 meter 250 million dollar yacht would not have 25 times the fuel consumption or 25 times the crew of a 10 million dollar 35 meter yacht i think the percentage rule is kind of a benchmark for most yacht owner i dont think majority of yacht owner ever venture out from the 35 metter 10 million dollar size range so a million dollar for fuel crew and year round berth is not to be unexpected you can easily spend 5-10k usd on a 30k speed boat with year round usage that more then 15-30 percent of the ship value just on fuel storage and maintenance the smaller the ship the higher proportional cost to the value of the ship is used to run it
Good morning David. Great information. You’ve actually proved the old adage “a boat is a large hole in the water that you pour money into.” Your caveats at the end are very true. It is an important purchase, possibly not an investment. If you are able to afford it, the investment in your life and that of your family is immeasurable. Buying a very large multimillion dollar house has huge costs as well, but if the purchase is important to one the cost of operation is almost immaterial. Very much looking forward to next week.
Years ago, well before the advent of GPS, I went to Coast Navigation School to learn celestial and coastwise navigation because I simply wanted to be an indispensable part of the crew, but definitely not Captain. That way I could be on the boat at any time without ownership responsibilities and, hey, who's going to throw off the navigator?
👍Good realistic numbers. Thank you. 💝 🤔Looking at all of these very expensive open uncovered marinas, I’m grateful to have my covered boat slip / berth. All of the boat slips / berths are covered at my marina. 😃
