Building a yacht tends cost a small fortune, but for some the cost is well worth it to travel the sea in style. How much do yachts cost to build? The reality is that it will all depend on your specific needs. Building a custom yacht allows you to have complete control over the finished yacht.
Due to their entirely custom nature, yacht building can have a wide range of pricing. It’s hard to pinpoint thee eexact cost of a yacht at various sizes, but we can look to existing yachts and their price tags for a general idea.
An example is Lurssen’s, 590-ft Azzam. This majestic vessel includes a submarine, golf practice suite, and a bulletproof owner’s cabin. The yacht was estimated to cost around $600m to build. Its gross tons is 13,136, meaning it cost roughly $1 million per foot.
Pre-Designed vs Custom Yachts
You will have to decide whether you need a pre-designed or custom yacht. Custom yachts are far more expensive than pre-designed ones. These yachts have more to offer, but they take longer to create and require more time for the builder. The average cost of a custom yacht is around $1 million for every 3.3 feet. That is over $30 million for a 100 foot yacht.
Custom yachts cost more than pre-designed ones because the yacht builder has to spend so much more time with details and mobilizing secondary contractors, designers, etc. For example, a custom yacht built from scratch usually takes around four years.
It could only take around two years for a predesigned yacht, or you could simply buy one on the new or used market to get your yacht without any wait.
Choosing The Right Yacht Builder
There are several key players in the yacht building industry. The builder you choose will determine the overall cost of constructing the yacht. High-end companies such as Oceanco and Lurssen will cost you a fortune, but you will get a lot of value for your money. You will enjoy cutting-edge techniques and craftsmanship industry prestige, and decades of experience.
When deciding on your yacht designer and builder, choose a year-round service company. Even if you have to wait for several months for the delivery of your new yacht, it will mean less hassle for you. You will also want to choose a company capable of delivering your craft in a reasonable amount of time. However, the more custom your yacht, the longer the wait.
The yacht materials are also very important and must be coordinated with the company commissioned to build your boat. The materials should be selected carefully to ensure there is no possibility of faults at any level.
What Factors Affect The Cost Of A Yacht?
Building a yacht is kind of like building a house. There are numerous subcontractors and specialty craftsmen involved in the process. Your choices will determine the total finished cost, and here’s a list of a few other factors:
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Quality of the materials and craftsmanship that goes into building your yacht.
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Your choice of the company that will construct your yacht and the number of extra staff required to build your craft in the shortest possible time frame.
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Decoration work such as painting and interior design – these are important small details to be taken care of properly.
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The choice of any additional features that need to be installed in your yacht – some yacht buyeers want to add things like swimming pools, gyms, steam rooms, custom bars, etc.
Conclusion
There are a number of factors involved in the price of a fully custom yacht. Although it’s difficult to say exactly how much a custom yacht would be, looking at some of the worlds most expensive yachts will be a good way to gauge the variation in pricing.
If it’s your first time purchasing a yacht, we would recommend getting a predesigned one before really going big on a fully custom yacht.
If you’ve never chartered a yacht, we recommend getting familiar with life on a boat before making the decision to buy your own because there are a lot of yacht maintenance costs involved with ownership.
To learn even more about renting a yacht in San Diego, please visit our articles page!