Updated: Dec 11, 2020
A luxury yacht can be described as a large, magnificent privately owned vessel (boat). A floating mansion if you must. Impressive and grand, Luxury yachts are a reflection of the wealthy as they cost anything between $2 million USD to over $1.5 billion USD. Not to mention the maintenance costs which average around 10% per year of the price of the vessel.
They are categorized as either a sailing vessel or a motor powered vessel and can range in size from around 60 feet (18 meters) to 500 feet plus (150 meters).
Superyachts vs Megayachts vs Gigayachts
A luxury yacht can further be categorized. This time by their size. A Superyacht ranges from around 80 feet (24 meters) to 200 feet (60 meters). A Megayacht is between 200 feet and 300 feet (90 meters) and a Gigayacht is considered anything above 300 feet.
Private vs Charter
A private yacht is used solely by the owner/s of the yacht and their guests. You can think of a charter yacht as a very expensive boat rental. Yacht charter prices range from around $20 000 USD to $3.5 million USD per week! Generally speaking, crew working on charter yachts will receive tips at the end of a charter - usually between 10 - 20% of the charter price. Therefore, working on a charter yacht can be fairly lucrative, but they are also somewhat busier than private yachts - Longer hours, back-to-back trips, plenty 'moving-about' etc. One can find themselves being burnt out pretty quickly on a charter program. You may not receive tips from working on a private yacht, but they are often less demanding and therefore one could potentially have better longevity. And depending on the owner and the yacht, crew may be privy to certain privileges such as regular time-off (between trips) and bonuses.
What they all have in Common
A yacht is a place for people to recharge and relax. Whatever their preferred means of doing so are. For some it's the pampering, being looked after, waited on, being cooked for, massages etc. For others it's the escape, the beautiful views and the freedom the ocean brings. Certain people enjoy the glitz, the glam and the fame and others are there for exploration and adventure. Every yacht is different in many ways, not just for their size, whether they're private or motor powered. As potential crew members other things are important to take into account, like itinerary, crew dynamic and the personality of owners and guests. All of these things combined make a luxury yacht what it is. But one thing is for sure - none of them are the same.
How to Become a Yachtie
Click here or on the image below to download a complete step-by-step guide on how you can live the dream by working on a luxury yacht.