Yachts are hardly a mass market product and yet the superyacht market has carved out a niche in being even more exclusive, but how much does a yacht cost to build, buy or rent? Let's take a look at the current state of the market.
Since the 1980s the amount of superyachts, ie yachts over 24 meters, has grown 600% with the worldwide fleet now counting over 10,000 vessels compared to around 1,500 in 1979. Deliveries of large sailing yachts have however remained constant throughout the decades with around 45 S/Y built per year since the 70s.
This exponential growth was brought mainly by the construction of motor yachts. Indeed, the ratio of M/Y to S/Y built has exploded from 2 in the 1980s to a whooping 7 motor yachts delivered for each sailing yacht under construction today. As a result sailing yachts have often retained value better than their counterparts.
The expansion of the worldwide fleet of superyachts has also had another significant effect, the accelerated depreciation of yachts on the brokerage market. A 43-meter Benetti Vision 145 could for example be built at a cost of €21,9 million in 2014 whereas a 10-year old model in mint condition such as M/Y Dia's could be bought for just €8 million on the brokerage market.
This large difference in price is however not unique to this case and can be found across almost all yacht manufacturers. Heesen, a well-known Dutch shipyard, is currently selling its 47-meter Project Ruya for €29,9 million. Its 2012 sistership, Lady Petra is however up for sale at the same time asking €22,500,000, down from her initial asking price of €31 million when it was first listed for sale in 2014.
On top of the initial purchase price must however also be added the yearly maintenance fees amounting to roughly 10% of the initial price of a new build. For a 55-meter yacht for example, this would represent close to $3 million per year.
Crew salaries today represent the largest of those expenses with the starting salary of a deckhand onboard a 50-meter yacht orbiting around $40,000 per year and going over $200,000/year for captains on larger yachts. The balance sheet is further burdened with fuel costs, repairs and operating costs such as uniforms and food for the crew.
To offset the operating costs, some owners turn to renting out their yachts to guests, which has created a market with near 1,400 yachts for charter throughout the world. Before the subprime crisis, these could represent a genuine business opportunity with some UHNWIs even building superyachts with solely charter in mind.
Few yachts are however able to fully recoup their maintenance costs in today's market. The 72-meter Axioma for example, one of the most popular charter yachts on the market, generated over €7 million in revenue from charters in its first year alone. Yet, its current asking price of €68 million suggest these have barely outperformed operational costs.
Many have therefore claimed that chartering a yacht has become the only financially justifiable option. It can indeed be argued that a like-new, 50-meter yacht could be chartered for near €250,000 per week during the summer season. To those would be added around 25% in fees of advanced provisioning, which would cover food, fuel, berthing fees and other expenses whilst charter guests are on board.
Annual operating costs of such a yacht would be near €2 million per year, which equates to nearly 6 and a half weeks of charter. It would therefore seem one would need to spend at least two months onboard to justify the operating costs, let alone the full purchase price. Yet, every year, dozens of new build projects are started despite this financial reasoning.
Prior to the 2008 crisis, an industry of yacht flippers had emerged with clients buying a slot for a superyacht at a prestigious shipyard and then reselling the yacht slightly before its launch. US businessman, Warren E. Halle had ordered 3 yachts from Lurssen in 2003, which he paid for €48 million a piece plus the cost of interior finishing. As following legal proceedings revealed, he later sold the first yacht (Project Marlin) for €65 million in 2006, the second one for €71,5 million in 2008 and kept the third one (Martha Ann) for himself, which is now on the market asking $79 million.
This market has since evaporated with many shipyards that had committed to build on speculation, in order to retain ownership of their slots throughout the construction, facing difficult financial times. Italian shipyard Baglietto posted losses of €105 million in 2009 and was ultimately only saved by the Gavio Group, which brought it back to financial stability. Yet, despite this turmoil, at least 700 superyachts are currently under construction.
Photo via Dutch Yachting
The megayacht market is at the moment particularly strong with at least 6 projects over 100 meters currently in build at Lurssen alone and several other shipyards working on their largest yachts to date such as Benetti and Feadship. Historically this high demand for megayachts in the past decade has allowed their sales prices to remain higher than construction prices due to the gains in time a brokerage purchase offered.
In 2011 for example, the late Russian oligarch, Boris Berezovsky managed to sell his Project Darius, under construction at Lurssen at the time, for €240 million to the Al Futtaim. He had however paid just €148,5 million, plus interior finishing costs, for the project as became known in a legal process that followed.
A growing concern for superyacht builders has however become the increasing gap between the increasing number of individuals with a net worth of over €250 million and the stagnant number of new build projects. Some have speculated that a possible explanation for this shift is a disinterest with the new generation of younger UHNWIs to own yachts and an increasing preference to charter by picking from an ever-growing fleet.
Dutch shipyard, Feadship has however delivered the 70-meter Joy, first yacht to boast an exterior design by Bannenberg & Rowell in modern history, to their youngest client yet. As a testament to her owner's young age, the superyacht features a basketball court on the bow and a gym surrounded by glass walls on the bridge deck.
Despite all the financial reasoning that might nudge UHNWIs to charter rather than own, over 350 superyachts were sold in 2016 showing that the reasons behind owning a yacht might actually be dominated by the pleasure and freedom that owners get from their own superyacht.
Dutch shipyard Oceanco has launched its latest megayacht, Y726, measuring an imposing 111 meters in length and boasting a displacement of 4,550 GT. The vessel is set to undergo sea trials in the coming months before its official delivery later this year.Commissioned in 2022 by an experienced yacht owner and longtime Oceanco client, Y726 features exterior design work by Espen Øino International and interior design by Mark Berryman Design. The naval architecture was developed through a collaborative effort involving Lateral Naval Architects, the Oceanco team, and Dan Jackson of Falcon Yacht Management, who represents the owner.While Y726 ranks among the largest vessels in Oceanco’s portfolio, it is slightly smaller than the yard’s current largest motor yacht, Infinity. Delivered in 2022, Infinity measures 117 meters with a volume of 4,978 GT, compared to Y726’s beam of approximately 15 meters.The new megayacht is equipped with an array of luxurious amenities. The interior includes a cinema lounge, gym, spa facility with sauna and steam room, and a beach club with an outdoor bar leading to a swim platform. Exterior features comprise a winter garden, covered cocktail area, outdoor cinema, private owner’s area with hot tub, and a multi-purpose entertainment zone featuring another hot tub and swimming pool. The vessel can accommodate up to 28 guests and 34 crew members.Lee Archer, programme director at Lateral, commented: “This project is the result of bold design ambition and robust engineering. Through close collaboration with Oceanco and the project’s design partners, Y726 stands as a testament not only to engineering enabling design at the highest level, but also to the power of collaboration as a catalyst for excellence.”Edske Smit, project director at Oceanco, added: “From the outset, Y726 has benefited from a deeply collaborative, trusting, and positive spirit. She is set to be a standout addition to the Oceanco fleet, and we’re grateful for the strong partnerships with our co-makers, design team, and the owner’s team that brought this vision to life.”This launch follows Oceanco’s development of the world’s tallest sailing ship, the 127 meter Koru, reportedly owned by Amazon founder Jeff Bezos.Oceanco was founded in 1987. Right now it is a world-class builder of custom superyachts up to the 140 meters range. Oceanco works with world-known designers such as Terence Disdale, Nuvolari-Lenard, Espen Oeino, Sam Sorgiovanni, Igor Lobanov, Tim Heywood and Andrew Winch to create some of the timeless and award-winning yachts afloat today.Credits: Oceanco
June 16, 2025
Sirena Yachts has unveiled the interior design details of its latest superyacht model, the Sirena 118. The 36-meter vessel, with a gross tonnage below 300 GT, marks the introduction of the Turkish shipyard’s new, larger composite line.The first hull of the Sirena 118 is currently under construction in Yalova, Turkey, with an expected completion date in 2026. The yacht features Sirena’s distinctive plumb bow design, which provides additional volume within the spacious hull.The vessel’s layout includes an owner’s stateroom occupying the forward section of the main deck, complemented by a VIP cabin and up to four guest cabins on the lower deck. A unique feature of the owner’s suite is the option to span two decks in a loft configuration. The yacht also boasts direct water access via a spiral staircase leading to a large relaxation area with a fold-down swimming platform.The yacht’s naval architecture was developed by renowned Argentinian naval architect Germán Frers, while Sirena’s in-house design team handled the exterior styling. The interior design is the work of Dutch design studio headed by Cor D. Rover, offering a customizable layout emphasizing material layering and natural light.The interior features dynamic wood veneer applications, integrated lighting, and a sophisticated color palette including creamy upholstery, light wood tones, and bronze accents. The design creates a serene atmosphere with soft indirect lighting and natural textures that adapt to changing daylight conditions.Cor D. Rover, founder and director of the design studio, commented: “As a studio, we strongly emphasize client-designer collaboration. The design is a ‘reflection of your intentions’, tailored to suit individual lifestyles and preferences. The presence of ample loose furniture and flexible decor elements also means that it is easily customisable, enabling each yacht to reflect the character and lifestyle of its owner.”In terms of performance, the all-GRP Sirena 118 is equipped with twin MAN V12 engines as standard, providing a total of 3,100 hp. The yacht has a top speed of 16 knots and a comfortable cruising speed of 11 knots. With the optional 3,800 hp engine package, the vessel can achieve a maximum speed of 21 knots.Çağin Genc, CEO of Sirena Yachts, stated: “As construction progresses on the first unit of our flagship Sirena 118 ahead of her launch next year, we are delighted to spotlight the incredible talent of our long-term collaborators at Cor D. Rover. The interior design is sharp and contemporary with a deep appreciation of the yachting lifestyle.”Sirena Yachts is a Turkish yacht brand. The company produces semi-displacement motor yachts ranging from 17m to over 30m.Credits: Sirena Yachts
June 16, 2025
Mark Todd, Chief Executive of Ocean Youth Trust South, has been awarded an MBE in the King’s Birthday Honours List for his services to sailing and young people.Todd has served as CEO of Ocean Youth Trust South since 2010, following nine years as a Staff Skipper. He holds multiple roles within the sailing community, including Chair of the Association of Sail Training Organisations, RYA Yachtmaster Instructor, Yachtmaster Examiner, and member of the Yachtmaster Qualifications Panel. In 2011, he received the inaugural MCA/ASTO Award for Command Commitment to Sail Training, and he is an Associate Fellow of the Nautical Institute and a Younger Brother of Trinity House.Ocean Youth Trust South, a registered charity, utilizes sailing as a tool for personal development among young people aged 11-25 from diverse backgrounds. The organization operates a 105-foot ketch named Prolific, facilitating residential voyages for up to 15 young participants alongside staff and volunteers.Speaking about the award, Mark Todd said: “It feels very special to have been awarded an MBE for my work in sail training. I am passionate about the power of sail training to make a lasting positive difference to young people, and I hope to use this award to bring wider recognition to the industry.”Todd reflected on his 25-year journey with the organization, noting the transformative impact of sail training on young people’s wellbeing and potential. He emphasized its role in fostering confidence, resilience, teamwork, communication, and problem-solving skills, alongside promoting friendship, fun, and adventure.The CEO also shared his personal journey, highlighting how sail training had changed his own life despite early challenges related to scoliosis and educational obstacles. He acknowledged the vital contributions of staff and volunteers across the industry, expressing gratitude for their role in providing life-changing experiences at sea for thousands of young people.Credit: Ocean Youth Trust South
June 16, 2025
MarineMax broker Scott Roberton has facilitated the sale of a new Ocean Alexander 28E explorer yacht to experienced owners transitioning from a Sanlorenzo SL86. The 28-meter vessel was selected for its operational efficiency and spacious layout featuring four staterooms and dedicated crew quarters."The 28E checked every box," stated Roberton. "It delivers true exploring capabilities while maintaining a refined, contemporary aesthetic that rivals any European builder." The owners specifically valued the model's 70-square-meter aft deck and on-deck master suite.Designed by Evan K. Marshall with a focus on volume and functionality, the 28E will operate seasonally between Newport, Rhode Island and Florida/Bahamas waters. The sale represents the owners' first acquisition from Ocean Alexander's Explorer series.Dan Mundy, Ocean Alexander's Head of Global Operations, noted: "The 28E exemplifies the innovation, volume, and versatility that define our Explorer series." The model's 90-ton displacement and 2,000-nautical-mile range address growing owner demand for capable coastal cruisers with superyacht amenities.MarineMax Newport's Frank Brennan assisted in the transaction. The yacht will enter private service following final commissioning. Ocean Alexander currently produces the 28E at its Kaohsiung, Taiwan facility with an estimated 12-month build timeline.Ocean Alexander is a family business. Two generations of one family have guided the shipyard for almost four decades. With manufacturing in Taiwan, Ocean Alexander is consistently one of the top selling brands for large yachts in the U.S. and currently produces models ranging from 26 to 36 meters in length. Credits: Ocean Alexander
June 13, 2025
The Italian Sea Group secured two awards at the 2025 International Yacht & Aviation Awards in Monte Carlo. The 66-meter Admiral JAS won in the "Motoryacht over 60 meters" category, while the 78-meter Admiral Platinum claimed victory in the "Motoryacht over 70 meters" division."We are proud that two of our most recent creations have received such prestigious recognition," said Gianmaria Costantino, CCO of The Italian Sea Group. "This highlights our commitment to excellence and innovation."The Admiral JAS, designed in collaboration with Mark Berryman, represents the semi-custom ADM 66 series with four units sold. Brad Whiteman of Qudra Yachts served as owner's representative during construction. The yacht features integrated indoor-outdoor spaces developed by MB Architects.The flagship Admiral Platinum, a full-custom project, features exterior design by Lobanov Design and interiors by Sinot Yacht Architecture & Design. Magnitude Yachts oversaw construction as owner's representatives.Both yachts were recognized for their construction quality and design execution. The awards ceremony took place June 6 at Hôtel de Paris, Monaco, during the 16th edition of the Design et Al competition.The Italian Sea Group currently operates production facilities in Marina di Carrara, with both awarded yachts delivered within the past 12 months. The company maintains active construction projects across its Admiral and Tecnomar brands.The Italian Sea Group is a global operator in the luxury yachting industry, listed on Euronext Milan (“EXM”) and active in the construction and refit of motor yachts and sailing yachts up to 140 meters. The Company, led by Italian entrepreneur Giovanni Costantino, operates on the market with the brands Admiral, renown for elegant and prestigious yachts, Tecnomar, Perini Navi, and Picchiotti; the Company has a business unit, NCA Refit, that manages the maintenance and refit services for yachts and mega yachts with a length over 60 meters. Credit: The Italian Sea Group
June 13, 2025