David. You really are setting the international standards for these "how to yatch" videos. "How much does it cost to run a super yatch" and "should I buy or charter a super yatch" are not only helpful, unique n quite satisfying but puts you a cut above the rest in the yatching industry. Keep doing an amazing job n your dedication to us viewers.
16:45 „in my opinion for a smooth transaction to take place everybody should respect the roles of the others“ Thanks for the entertainment Dave and this piece of wisdom, applicable in many everyday situations.
Gotta expand the market to cover seal billionaires. However really surprised that David didn't mention safety from orcas and such as a selling point. He should know the seal audience better to be able to seal the deal.
You do know that the presenter and narrator of this channel is called David Seal and as he is posing as the buyer in this video the title Yacht for Seal makes A LOT OF SENSE
This channel just keeps getting better and better. It would be great if you did a video like this for a large superyacht that is for sale/recently sold such as Spectre or even something along the lines of Kismet, just to keep us dreamers motivated. One thing is for sure, when it finally comes to it... There's only one broker that will come to mind. Thanks, keep up the fantastic work!
Thanks Joe, in all probability the next video in the series will focus on a yacht that is less expensive than My Soo Too and I'll show how running costs can be massive reduced. The video after THAT though is likely to be a huge 70m+ superyacht!!!
David, Another "award winning" Vblog that sets the standard for everyone to follow Your explanation could turn what could be a difficult purchase into satisfactory and distressed process, not only that but many of the topics also cover smaller yacht purchases not just a superyacht, meaning nearly everyone could benefit from your advice.
Yachts with small crews often double up on jobs, but according to it's listing there is room for two more crew members if you are willing to spend for them. Also, if the yacht isn't going to be chartered and the owner has a personal chef, the owner will often bring the personal chef on board with them.
Just regarding the crew you forgot to consider Medical Insurance Payroll Tax Expense Placement Fees Provisions Training Travel & Repatriation Uniforms Visas & Fees If there are no other perks. Plus the management company if you don't want/can't have time/knowledge to run all the administrative issues of the boat.And that is a very fat amount too. And I can assure you is a big number to add to the estimated costs.
Thank you for this informative video, however I have a few questions: 1) What if one is interested in a yacht that is currently undergoing a refit..? 2) Should one only purchase the vessel after the refit or during so as to put ones own stamp onto the vessel..? 3) During, how do you work out the price as the vessel is not in any working condition..? 4) If the vessel is on the hard, so to speak, should one still wait for it to be put back in the water to do the seal trail..? 5) Is it custom for the new owner to keep the old crew or replace the entire crew..? Please if at all possible, could you advise accordingly..! PS: GREAT vblog
Me too. David is really smart because he is building connections with potential future clients before any other yacht broker does. Even if his critics were right to say that "rich people don't watch you tube", a lot of people on their way up do. And we all know who we're gonna call when we've made our fortune and want to buy a yacht ;)
A brilliant idea for a video (series). As usual, the editing was perfect. I appreciate your knowledge and insightful advice. Thanks for the video. It was excellent.
Great video. Great information. Learning alot from your channel. Keep up the good work. Looking forward to next months video along with your regular ones. Thankyou for you time to share it with us.
First step: quit my job as a secondary school teacher. Or find a rich widow. Very informative video. Well done. I think not hiring specialised lawyers and surveyors if you are in the market for a big yacht isn't a very bright. I have seen enough videos on these yachts to know that broken shit gets expensive really rapidly. And when you are in rough water, problems can become really nasty and dangerous.
I have to say sir! That you made me a fan. I love your 'no bullspit' common sense channel to help people to help them to enjoy yachting! +1 subscriber!
It's like buying a car and a house, but with international laws and a crew to be considered as well! Eye opening, even if I've heard bits and pieces before, you put it together wonderfully. Thank you for the video. :)
David. Love this new series already! Great information. I bet it will be your most linked to series yet!! I would like to see a captain's perspective on what to look out for when buying and what to expect from from a captain. Be sure to cross link these videos (cards and end screens) and create a playlist. I know you will, but people get busy.
This is one of your best intuitive well explained videos to date. I'm a huge fan, and I regularly enjoy watching all your content including the cinematic videos of yachts for sale but this informative video really answered a lot of questions I had regarding the annual cost of owning a yacht. 👌💯
Great to watch your videos especially the costs of running insurance etc I've really enjoyed them will be in a position soon to buy my first yacht thanks a lot
$525k/pa + depreciation (5%/pa maybe? = $212.5k) + financing (5%/pa ? = $212.5k) = $950k a year on a $4mio investment. (if no financing, than there are opportunity costs of at least 5% - although a rich person usually makes (much) more than that open his equity). Expensive hobby this yachting :))
David this is brilliant. I have just stumbled upon your "how to" series and I love it they are the first videos I've come across that actually address the "guts" of yacht purchase and expense. I thank you for this, as I am very curious about this part of yachting. I (as a total layman) do question the cost of the surveyor - who ostensibly can steer you correctly, or sink you, months down the road, with a poor quality survey. If the surveyor does both a sea trial for handling, and a land review for the hull, isn't this more than a one-day survey? And considering the size of the yacht and the intricacies of the systems, doesn't EU7K seem light....?
Ahh...cost for engineer/mechanic and/or a chef/cook? Don't most vessels of that nature and size have both onboard? Thanks for all of your hard work Mr. Seal.
He did say he'd pick a captain with engineering experience, and if it's only for family use not charter you can probably get a stewardess who can cook.
Is there no company out there, that provides everything the client would need from looking at the yacht to taking it home? One company that does it all?
Hello David! Will you make a video about how to buy a brand new yacht from the shipyard? All these procedures, are they also applicable for sailing yacht? Thank you and congratulation from the this great channel!
So who is responsible for the brokers commission, the buyer or seller? And what is the going percentage for the broker that is listing and the broker that is representing the buyer?
Grooming future clients? 😉 Excellent video! What sort of downtime should one expect or schedule for annual maintenance? I presume the more the yacht is used the more downtime is needed (within reason) for annual maintenance. Thanks for pulling this together.
This info definitely adds credence to the saying "if you have to ask ..well". Throw in fuel, food and miscellaneous and it seems you could be looking at 15-20% of the original cost. If I ever bought one, I think I'd get my own Captains license, pay the crew a very nice end of contract bonus and get rid of them. Just park it in a nice marina that offers cleaning, concierge services ...or just buy a penthouse in Miami.
Great video and great advice. Leave the work to the pros. And it's very useful to know the buying costs. It seems like it is 10% of the purchase price. I'm curious for the other videos to confirm or disprove that. Also, how do you go about hiring a captain ? Are there specialized agencies to help you find one? Or do you just make an offer to the nice captain of your friend's yacht? :D
David, is there a *_"season"_* for buying or selling to get the best price? I would _guess_ that the *end* of the season would be best for *buying* and that the beginning of the season would be best for *selling* a yacht...?
Excellent video David, thank you for such clarity and always making it simple. When buying a Yacht of this size, do you recommend to list it for charter to contribute to the annual cost?
Thank you David for your excellent videos, they are very informative and pertinent. However you mention in this video that the annual costs to run this 29 meter yacht is 527 380 Euros a year. The reality is more in the range of 875 000 Euros per year for Operating Costs and add a further 110 000 Euros per year for Capital Repairs & Reserve. For an annual total cost of close to 1 000 000 Euros per year. There is no rule of thumb based on the purchase price of a yacht that can validly estimate the Operating Costs of a Super Yacht. Anyone, specially Brokers, that tell you to figure 10% of the purchase price don't know what they are talking about and be weary of what ever else they may say.
Thanks for watching Patrick. What I’m trying to say in the video is that is what I would personally budget. The current owner actually runs the yacht for a little less than that since he does not need it to be fully crewed all year round and also saves on berthing costs in the winter by keeping the yacht in a less expensive marina. In all honesty, my €527,380 is an extremely generous budget...the annual cost of 1,000,000 that you mention is way over the top.
David, thank you so much for this ‘easy to follow’ video. Something I noticed recently, being a SpaceX fan and Elon Musk purchasing the ship that catches the rockets fairing, also changed the name of the ship. Is this the case with yachts, can the name remain, or on purchase and under new ownership, the name must change or this is entirely at discretion of the new own???
I've seen listings that reserve the name for the original owner, but otherwise retaining the original name or changing it is at the discretion of the buyer.
Since you mentioned croatia where labor is crazy cheap. There is no way you would spent 180k€ in just servicing 30m boat. And berth for 30m boat should be around 30-35k a year power and water included.
David - this is an incredibly interesting vlog. What a great way to help educate a buyer and also promote My Soo Too (in an innovative fashion). In your experience, how often does an existing captain/crew stay with the yacht through a purchase? I, like I assume a number of your followers also follow some other engaging channels like Super Yacht Captain where that vessel (AWOL) is for sale. If you find a good yacht with a great crew - can you retain them?
Thanks Tate, I’m glad you enjoyed it! The question of whether the crew stay with the yacht or not is entirely up to the crew and the new owner to decide. Often the crew will stay with the old owner if he is buying another yacht, but sometimes the old owner is taking a break from yachting...the new owner does not already have a crew...and so they stay with the boat.
Question Colin I have been getting mostly captain, engineer, deckhand, and Stuart 4 person crew you have 2 stewarts, engineering captain, and deckhand. Can you explain the reasoning for you are way versus captain engineer deckhand and Stewart?
I preciate a lot for this on ,why you judge people wrong some times and probably your gentleman in looks, talks and experience? I've asked you few questions,you never replied .I recently talked a bout building my own super yacht very pristine with your help, indeed you own 10 percent in economic generation .I only want to own it starting from 4 years when its doing batter I might extend .mybe you can also manage for me if you want .price value 200 million with helicopter inclusive.Do look how I leave or where I stay ,that's for business and traveling too.Dont miss this time.
This will be a good series to be sure!! I came across a yacht for sale on my feed yesterday that really gave me a fantastic idea. It was a 2019 Azimut 48 for sale by Marine Max here in the states on the Lake of the Ozarks. It's one of the largest lakes here in this country and I have some thoughts and ideas I'd like to communicate more directly. How may I send an email?
How much would it cost to charter out My soo too ?? So say if I was to buy a Yatch like my soo too and only used it 3 months of the year and wanted to charter it out what would I get a week or month for the yatch ?? Could you do a video on that please
Really enjoy your videos. But I struggle with calling something that is almost certainly something that will lose 10% or more per year an asset. That’s not necessarily a bad thing. Maybe it’s just me, I could be wrong?
In his case here it was 12%. Even though infrequent use wouldn't require full time crew, I find these levels of running costs very off putting. The purchase prices seem quite reasonable but not the annual mass leakage. The equivalent of losing the rather expensive boat every 8 years. From what I hear the 180k in servicing is way above what it actually needs but these numbers might be for a charter boat always on the go.
