What you need to know before purchasing the luxury yacht of your dreams.A strange thing happens when successful people purchase the yacht of their dreams! All business experience goes out the window as they seek the luxury yacht. After they have paid for their dream yacht they have this idea that the yacht is so gorgeous that there is nothing to compete with "My Yacht". Often the new owner thinks "when anyone sees my yacht, they will fall in love with it just as I did". The cruel fact is there are hundreds of other yachts just as gorgeous and many of them may be larger, longer, faster and more expensive.
All people considering purchasing any luxury yacht needs to ask themselves one question before signing on the dotted line:
What are my plans for this yacht?
Here are four answers that many buyers have found to match their ideas.
A) Keep the yacht private to use just for my family and myself for week-ends only.
B) Travel around half of the world, with a captain and crew and bring along with my family and friends.
C) In addition to personal use of the boat, I'd like to put into charter service to help defray the operating costs. As a general rule, annually you'll spend about 10% of the purchase price on maintenance, crew, fuel, insurance and other expenses.
D) This is an investment and I want to make money chartering my yacht. As an example: You and your wife will operate the boat or I'' hire a captain and crew to manage and run the boat and I'll keep them employed year round.
Once this question is answered, you'll know which direction you'll need to take in order to reach your goal.
Next you'll need to decide which type of yacht you want to purchase. As there are two major types of vessels - luxury sailing catamarans or power yachts.
If you are choosing to place your yacht into charters, the size of the boat and how many cabins will determine how many charter guests affect the rates you can charge your charter guests.
Let us deal first with the very popular Power yacht and then the modern luxury catamaran following.
POWER YACHTS - 60 feet to 600 feet
For all yachts (floating hotels with private high end service) you can see we have A,B,C,D factors to consider and different types of yachts that serve each type.
A) These vessels can be any size from 60 feet to 600 feet and how much you are planning to spend will determine which category you will fall into. As a guideline purchase the largest vessel you can without hurting your finances and pay cash for your toy so you do not have payments to make to the bank. This is the yacht that is used over week-ends and after 4-5 years you may sell it to get a larger one.
B) The round the world vessels may well be a trawler type vessel that can break ice with her bow and can do 4,000 nautical miles with a full fuel tank of gasoline, but she must have superb quality living quarters. A permanent captain and crew team is very necessary.
C) I wish to charter my yacht and make overheads only. This is also linked to D. where you wish to make money. Your advertising would remain the same whether you want 1 or 20 charters each year.
Regarding luxury power yacht and catamaran charters and yacht purchases call us on 800-478-2029
As an owner you have a yacht that may be similar to many others and you'll need to work with a central yacht agent company that understands how to separate your yacht from one hundred other yachts all competing for the same 1 week all inclusive charter.
How do we separate your crew from all the other crew out there? Remember all boat owners' and crews say the same thing, "we are the best"! Unfortunately, 'We are the best' does not cut it for Barrington-Hall, we always have to explain to each crew member what separates them from the other crew. Very few crew know what separates them from the crowd.
D) You wish to make money chartering, aim for the stars and support that aim with a sufficient advertising budget money to be spent on yacht charter registries and to advertise on the best databases to maximize your boats' exposure to yacht charter brokers, for building a web site as well as creating and printing color brochures. And, most importantly to produce a sales video that creates charter leads and is not just 3 minutes of entertainment.
Below is an example of an excellently produced video for the exquisite 178 foot super yacht Starfire. Narrated by her Captain Carl Sputh.
You will need a central yacht agent to manage your yacht. Barrington Hall Yacht Corporation provides management services, yacht acquisition guidance and is a premier yacht charter booking agent. Our company also manages the crews including the captains, hiring and firing as well as grooming them to make sure they understand their roles and responsibilities to you as the yacht owner as well as how they are to treat your guests.
Our company is always in the top charter booking companies worldwide. We are unique in our approach in that we only take on owners who understand that there is money to be spent ahead of time so brokers have the necessary tools to sell 1 week yacht charters on board their yacht.
The president of our company, Andrew Buys will personally board and inspect your yacht, so he can see your cabin configuration and the balance of day and night areas to make sure your yacht does fit into the category you wish to use it for and to fully understand the capabilities and unique features in order to be able to market and price your yacht charters properly.
A refundable deposit is kept in escrow so if you have accounts to pay on the last day of our agreement, we settle those accounts and give you the balance. If the owner does not support us 100% we are not prepared to hold his yacht no matter what size. Barrington Hall signs an agreement for 2 years with each crew member as well as a 2 year agreement with each owner.
Barrington-Hall provides the support the owner wants between this boat and his crew. The crew deals with us, for parts where to base the yacht, their salary, where to dock, their food, etc.
When purchasing any yacht make sure the person who represents you knows this industry well, no matter how big or small you selected yacht, make sure you have someone like Andrew by your side to represent you.
Starting on the low side of $600,000 to $100 million is the range of vessels for sale and as a purchaser knowing what you are planning to do with your yacht before you start will narrow down the field while your budget will narrow the choices even further. The right floor plan and the right application for your yacht will continue to whittle the choices down even more.
Purchasing a yacht is not a spread of buckshot, you need to focus on the right one. Just because you find a great bargain on a yacht does not mean it is the correct choice for your plans. In the long run that bargain can be a huge headache. Bargains are not what you are looking for, you are looking for the right vessel to meet your personal and charter requirements. Vessel groups A and B as described above are normally not designed for charter.
Power Yachts from 60' to 400'
Sherakhan 226 feet of sheer beauty. What impacted me most on this hug vessel is her double volume salon with seating for 28 V.I.P. guests under two huge chandeliers lighting up the table and salon. It is exceptionally unusual to be able to sleep and seat so many people. Our industry is defined as any vessel between 50 and 500 feet sleeping a maximum of 12 guests. There are a few exceptions. Rates for the larger power yachts are exceptionally expensive but not for dignitaries, royalty and presidents.
Milk & Honey - this 125 power yacht is one of our favorite charter yachts and her rate for 10 guests is very comfortable, so her schedule is pretty full. For additional detail click Here.
Christina O was Aristotle Onassis 325 foot luxury power yacht which has dignitaries such as Sir Winston Churchill Maria Callas, Jackie Kennedy, John Kennedy, Princess Grace Kelly of Monaco, Frank Sinatra, Elizabeth Taylor, John Wayne, just to mention a few.
The swimming pool on deck was used to hold lobsters and could be turned into a dance floor at will.
Her Honor formerly owned by Judge Judy and sold a few years back, these are the modern day sleep luxury power yachts.
The following motor yachts are available for purchase, charter vacations as are many others. Kindly contact us on 800-478-2029 and we will gladly assist you.
Watershed II wonderful captain and chef team
Flame - 65 feet Classic Power Yacht is a timeless power boat which has been chartering for many years, she has the right captain and the right chef on board, so she advertises correctly and takes her share of the market place.
Purchase price for power yachts start from $600,000 and run up to $50 million more depending on what you are after. Steven Spielberg paid an estimated $184 million for his 282' super yacht - Seven Seas, launched in 2013. BTW - Mr. Spielberg has decided that his boat is not big enough and is in negotiations to build a new mega yacht that will be in the elite and coveted 300' power yacht class. According to industry sources, his new yacht will cost $250 million dollars to build.
Whatever money you invest on your new toy you do need a professional by your side guiding you along the way, or the sharks will get you.
Luxury Catamaran Sailing Yachts from 45' to 110'
Over the past 10 years there has been an enormous swing towards the high end luxury catamaran and the reason is easy to see why. Woman especially have taken to the huge space inside, walk around beds like in a hotel, increased stability and sheer comfort. The catamaran is the world's most stable craft.
Not only have the ladies of our lives fallen head over heels in love with catamarans, our high end clients who have been spending $100,000 to $300,000 or more on a 100' or larger for a 1 week power yacht vacation have swung towards the top catamarans and they pay $50,000 all-inclusive for 10 guests for a luxury sailing yacht like the 76' Akasha.
In 2005 the first Matrix catamaran arrived in the virgin Islands to set up chartering, her name AKASHA 76 foot and today Akasha remains the top high-end luxury catamaran with a weekly rate of $49,900 all-inclusive for 10 guests. Akasha arrived with a new design which was to influence all catamarans manufactured thereafter.
Every cabin in Akasha is a walk around bed and her master cabin is the largest cabin I have ever seen on any catamaran worldwide, with king sized walk around bed. Catamarans manufactured after 2010-11 are designed with queen sized walk around beds in their cabins.
Another very first was the wonderful design of this luxury sailing yacht Akasha because they did away with a 3 foot walk way that goes around every other catamaran, so Akasha has 5-6 feet more internal space inside than other catamarans, to make her seem like an 88 foot catamaran.
AKASHA has 3 sister catamarans Zingara, Kings Ransom and Tranquility. Their innovative designs have given other designers the idea to make the roof of all normal catamarans into a 3rd floor which is now called the fly bridge. The fly bridge is the favorite spot to watch sunsets with happy hour treats and drinks and where guests like to suntan, relax sitting near the captain while cruising between the islands.
Slivochka, Alegria, Flow, Dolphin Splash and Aletheia all have these new design concepts added to them and that is why they are so popular. View videos below.
Slivochka at 59 feet has one of our top captain and chef teams, they wear their white uniforms with bars, because they feel that this gives their guests an extra sophisticated feel their the guests vacation. All guests are met by a smiling Jennifer in white uniform handing each guests an ice cold hand towel as guests board. Attention to detail is what makes this crew team far better than the rest.
Aletheia Catamaran Sailing Luxury
Yet a new catamaran has just been launched named Bamarandi and she is now trumping all of them with the largest fly bridge and a wonderful crew team, video and brochures to follow.So guests have an idea so the high-end quality chefs we have on board luxury catamarans here is a short 2 minute video of Chef Ricardo creating world class cuisine:
Work with Barrington-Hall for your private yacht vacation or purchaseThe smarter your yacht broker the better your vacation in paradise. Not all brokers are the same and anyone can secure your yacht charter for you. Brokers are no good to you unless we give you ideas on how to enhance your vacation. How to select the best one week of each month, and why. How to select the best one week of the year. Why to buy or book a specific yacht and crew team. Why to consider a specific location for the period of year you are considering.
Chartering and managing private crewed yachts worldwide is what we do best because we are passionate about yachts!
If we may be of assistance or if you have any questions regarding luxury power yacht and catamaran charters and yacht purchases call us on 800-478-2029 or outside the USA +1 954-720-0475.