Owning a luxury yacht is a dream for most, and I’m sure many haven’t even bothered looking at prices as it just seems so far out of reach – a very loose guideline would be between $US 5 million to approximately $US 25 million for seriously top range superyacht – but how much would a 50ft luxury yacht cost to build, actually?
Although this seems like a pretty straightforward question, the cost of this could vary due to quite a few factors and there are some aspects to be taken into consideration.
If you’re lucky enough to be working with a yacht company that is willing to welcome all your customizations in with open arms, the cost of building will, obviously, vary depending on what customisations are wanted and how much they cost. Customisations range from navigation equipment right through to interior finishes. Here you are looking at anything between $US 800 000 and $US 1 500 000.
At the Knysna Yacht Company, we offer our customers a boutique yacht building experience, you can either choose to set your maximum budget and we work with you within the required budget and your customisation options then available based on this budget. Alternatively, you select the basic specification either for the 50ft Knysna 500SE, or the 55ft Knysna 550. Please contact us for a quote.
2. Fractional Ownership
For those individuals who think it’s impossible to own their very own yacht, you can look into fractional ownership, an amazing option that not too many know about or would consider. As the name implies, fractional ownership means you only pay a part of the cost of the entire yacht, making it much more affordable. This is mostly between a quarter and half of the cost. Sharing the costs and efforts of operating the yacht dramatically reduces operating costs too. Shared ownership also allows you to spread your investment over 2 or 3 assets.
3. Building Time
When you do decide to work with a yacht company and build your boat, the process while the yacht is still in the boatyard can take anywhere from four to nine months, depending on changing of requirements. Hopefully, you’ve chosen a yacht company that cares about quality and takes any necessary time to ensure the end product is perfect and the way you dreamed it.
4. Second-hand VS New-build
You may be considering what the price difference would be to buy a new vs second-hand yacht.
When considering a second-hand yacht be sure to factor in important elements like the condition of the engine, the age of yacht, the electrical work and warranties, inspect the deck and hull integrity, check safety equipment. If you’re unsure get professional help in the form of a reputable marine surveyor and, possibly, a buyer’s broker.
There are many reasons why often opting for a brand new-build is in most cases favourable for a number of reasons:
- Newest design, materials and technology is used
- Maintenance is much lower compared to a used, older yacht
- You get what you want. You get to choose which specifications, navigation equipment, cabin-layout and interior design finishes you want.
- Equipment comes with industry standard warranties.
- The price of a new-build is often directly comparable with a used yacht and in some cases less.
- Newer engines use far less fuel and are quieter, plus are environmentally friendlier.
If you would like to discuss the Knysna Yacht Company customization yacht building options please get in touch with us.