A Drop In The Ocean: how much for a superyacht?
If you are lucky enough to have the financial clout to consider purchasing any of the opulently-appointed floating palaces you will see moored up at DIBS 2013, then the financial implications of buying into such a costly lifestyle asset should be taken into consideration; buying a superyacht is not like buying a supercar.
Firstly, most of the world’s top automotive marques’ signature models will at least retain their value. Boats do not. The minute it slides out of dry dock, you stand very little chance of recouping any of its original ticket price, no matter how many diamonds you encrust the toilet with.
These boats are built to order. Therefore, unless you are buying second-hand, there are still the fixtures, fittings and interior design costs on top of the initial fees to consider. That can be pretty much an openended tab when you are playing at this level.
Roman Abramovich, for instance, likes to have a full missile defence system and torpedo-proofing fitted as standard on his fleet of tugboats.
Then, once it is on the water, there is the considerable cost of mooring, crewing and maintaining the boat. It is not like you can park it up on a trailer on the driveway of your sprawling mansion on the Palm Jumeirah.
It is difficult to quantify these everyday costs into a “one size fits all” price-bracket, because every boat is different. According to Craig Barnett, the editor-in-chief of Yacht Emirates Magazine, the general rule of thumb is to “allow around 10 per cent of the initial purchase cost for annual fees such as berthing, insurance, service and maintenance”.
That said, if you can fork out upwards of US$30m (Dh110m) for construction of a new vessel, or even the still significant cost of a pre-owned one, it is fair to say that your financial position is shipshape enough for the running costs to be a mere drop in the ocean.
Fortunately, there is something to match every budget at DIBS 2013, so, even if buying a superyacht is out of your league, there are still many options to allow you to dip your toe into the waters of boat ownership.