Rough cost of ownership...... very rough
Discussion
Afternoon All,
Just back for beautiful Mallorca and i've decided to up sticks and sell our second home in the UK and invest (operative term) in a boat in the ballearics.
I reckon to have a budget of about £200k to put into actually buying the boat and have my eye on a nice 1999 Princess V55.
Question is, what else would I have to budget for and approximate costs?
Fuel - how much would the princess drink per hour at cruise (Twin MAN Diesels) and how much does the diesel cost portside?
Berthing - How much and where are the best marinas in terms of cost/accessablility etc
Maintainence - How regular do I need to antifoul/service and what cost?
Also on the other side, to try and recoup some of the above costs, what are the chances of chartering a boat like this, how much would she fetch and for what chunk of the year would you guarantee income?
Appreciate i'm asking a lot here, but if anyone is going to know and be able to help someone as green as me then it's you guys.
Thanks
BB
Just back for beautiful Mallorca and i've decided to up sticks and sell our second home in the UK and invest (operative term) in a boat in the ballearics.
I reckon to have a budget of about £200k to put into actually buying the boat and have my eye on a nice 1999 Princess V55.
Question is, what else would I have to budget for and approximate costs?
Fuel - how much would the princess drink per hour at cruise (Twin MAN Diesels) and how much does the diesel cost portside?
Berthing - How much and where are the best marinas in terms of cost/accessablility etc
Maintainence - How regular do I need to antifoul/service and what cost?
Also on the other side, to try and recoup some of the above costs, what are the chances of chartering a boat like this, how much would she fetch and for what chunk of the year would you guarantee income?
Appreciate i'm asking a lot here, but if anyone is going to know and be able to help someone as green as me then it's you guys.
Thanks
BB
Berth costs:
A good friend of mine has a 60footer in Pt. Andraixt and he's charged approx. 4.000 € per month.
There might be cheaper berths to be had in Mallorca, but I believe it is generally on the expensive side as availability is limited.
Fuel:
I chartered a 55 foot Marchi (which is, albeit older, a similar boat) this summer which also ran twin MAN diesels (V8). Fuel consumption averaged at about 100 l/hr. Fuel prices will not vary greatly from pump fuel prices so I'd say it is cuurently about 1,40 €/l for diesel.
Anti Fouling:
Anti fouling depends very much on what material you use, how often the boat is used and what amount of time you spend on intermittant cleaning. I'd allow for renewal every 2-3 years and estimate the costs to come out at approx. 5.000-7.000 € a go. Could always do that yourself but it is a messy job plus a pain if something goes wrong.
Servicing:
Basic servicing you can do yourself if that's your kind of thing. On engines and other bits that require expert attention for servicing, as well as unplanned "repairs" I'd allow another 10.000 € at least.
A good friend of mine has a 60footer in Pt. Andraixt and he's charged approx. 4.000 € per month.
There might be cheaper berths to be had in Mallorca, but I believe it is generally on the expensive side as availability is limited.
Fuel:
I chartered a 55 foot Marchi (which is, albeit older, a similar boat) this summer which also ran twin MAN diesels (V8). Fuel consumption averaged at about 100 l/hr. Fuel prices will not vary greatly from pump fuel prices so I'd say it is cuurently about 1,40 €/l for diesel.
Anti Fouling:
Anti fouling depends very much on what material you use, how often the boat is used and what amount of time you spend on intermittant cleaning. I'd allow for renewal every 2-3 years and estimate the costs to come out at approx. 5.000-7.000 € a go. Could always do that yourself but it is a messy job plus a pain if something goes wrong.
Servicing:
Basic servicing you can do yourself if that's your kind of thing. On engines and other bits that require expert attention for servicing, as well as unplanned "repairs" I'd allow another 10.000 € at least.
noneedtolift said:
Berth costs:
A good friend of mine has a 60footer in Pt. Andraixt and he's charged approx. 4.000 € per month.
There might be cheaper berths to be had in Mallorca, but I believe it is generally on the expensive side as availability is limited.
Fuel:
I chartered a 55 foot Marchi (which is, albeit older, a similar boat) this summer which also ran twin MAN diesels (V8). Fuel consumption averaged at about 100 l/hr. Fuel prices will not vary greatly from pump fuel prices so I'd say it is cuurently about 1,40 €/l for diesel.
Anti Fouling:
Anti fouling depends very much on what material you use, how often the boat is used and what amount of time you spend on intermittant cleaning. I'd allow for renewal every 2-3 years and estimate the costs to come out at approx. 5.000-7.000 € a go. Could always do that yourself but it is a messy job plus a pain if something goes wrong.
Servicing:
Basic servicing you can do yourself if that's your kind of thing. On engines and other bits that require expert attention for servicing, as well as unplanned "repairs" I'd allow another 10.000 € at least.
Not wishing to take anything away from the rest of you, and the suggestions to just rent have been taken on board as it were, but this is brilliant helpful information.A good friend of mine has a 60footer in Pt. Andraixt and he's charged approx. 4.000 € per month.
There might be cheaper berths to be had in Mallorca, but I believe it is generally on the expensive side as availability is limited.
Fuel:
I chartered a 55 foot Marchi (which is, albeit older, a similar boat) this summer which also ran twin MAN diesels (V8). Fuel consumption averaged at about 100 l/hr. Fuel prices will not vary greatly from pump fuel prices so I'd say it is cuurently about 1,40 €/l for diesel.
Anti Fouling:
Anti fouling depends very much on what material you use, how often the boat is used and what amount of time you spend on intermittant cleaning. I'd allow for renewal every 2-3 years and estimate the costs to come out at approx. 5.000-7.000 € a go. Could always do that yourself but it is a messy job plus a pain if something goes wrong.
Servicing:
Basic servicing you can do yourself if that's your kind of thing. On engines and other bits that require expert attention for servicing, as well as unplanned "repairs" I'd allow another 10.000 € at least.
Thank you.
NP!
Depends on which agents you go with I guess (which will take a fair share but it means A LOT less hassle for you).
Having just chartered one out (in Croatia) all I can say that there are plenty on the market and the general consensus seems to be that it's not an easy business for boats that size (especially with the hassle you can pontentially have, things getting broken, not being treated properly etc.).
I guess it is down to how important owning the boat is for you, and how much time you have to actually use it.
Personally I believe that chartering a boat is financially more viable (when looking at 2 weeks/ year), but that is just me
There are some professional brokers/ charterers on ph (suprawomen I believe for example) - maybe they can shed some more light on the pros & cons!?
Depends on which agents you go with I guess (which will take a fair share but it means A LOT less hassle for you).
Having just chartered one out (in Croatia) all I can say that there are plenty on the market and the general consensus seems to be that it's not an easy business for boats that size (especially with the hassle you can pontentially have, things getting broken, not being treated properly etc.).
I guess it is down to how important owning the boat is for you, and how much time you have to actually use it.
Personally I believe that chartering a boat is financially more viable (when looking at 2 weeks/ year), but that is just me
There are some professional brokers/ charterers on ph (suprawomen I believe for example) - maybe they can shed some more light on the pros & cons!?
How do you fix a leak in the hull of your boat ???
Same way you fix every other problem on the boat ... keep shoving $50 bills into the hole!!!
[small]apply relavent local currency[/footnote]
Or as mentioned before ...
If it flies, floats or f
ks, rent it!!!
Having said that, never stoped most of us it would seem
Same way you fix every other problem on the boat ... keep shoving $50 bills into the hole!!!
[small]apply relavent local currency[/footnote]
Or as mentioned before ...
If it flies, floats or f
ks, rent it!!!Having said that, never stoped most of us it would seem
Bear in mind that in the Med, you buy the berth. Generally for a 18m berth, the price is around £150k. You can get a mortgage on them though, as they are viewed as a tangible asset over there.
Aside from the mooring, budget 5% - 7% of the purchase price for maintenance (in the UK, or anywhere you would rent the berth, budget 10% of the purchase price).
Aside from the mooring, budget 5% - 7% of the purchase price for maintenance (in the UK, or anywhere you would rent the berth, budget 10% of the purchase price).
Edited by schmalex on Monday 15th September 21:41
Sigh...Ha! Here's a hint of what your in for costs wise! Got our first boat this year. Uttered the immortal words "fill her up mate". After 5mins the guy grinned and said " you haven't done this before have you?" me " er actually, no" him "well I'd make yourself a coffee if I was you" 40mins later it was NEARLY filled. Ouch!
Pugsey said:
Ha! Here's a hint of what your in for costs wise! Got our first boat this year. Uttered the immortal words "fill her up mate". After 5mins the guy grinned and said " you haven't done this before have you?" me " er actually, no" him "well I'd make yourself a coffee if I was you" 40mins later it was NEARLY filled. Ouch!
I know the feeling Also: Some pumps I've been to in the Baleares and in Croation have a bell go off every 100 € - so it's not only the bill which makes your ears ring...
Baby Huey said:
Why is boat ownership so expensive? I understand the fuel bills must be eye watering, but what else is there to pay for.
I've heard it said that boat ownership is like burning money, so were does the money go?
Fuel is expensive. Back in 2001, I was paying £1 / litre for unleaded. Our boat had a 300 litre fuel tank. At full bore, you could just about squeeze 90 miles out of it.I've heard it said that boat ownership is like burning money, so were does the money go?
Marinas are expensive. We used to pay £7k per annum to keep our boat in a marina
Safety kit isn't cheap. Liferafts, lifejackets, foul weather clothes, flares etc, etc all cost a pretty penny & many have a finite life, so need to be replaced every year or so.
The boat needs to be lifted out at least once a year to be antifouled. Lift out will be £150ish. Antifouling paint for an average sized boat (say 35ft) will be another £100 - £200. While it is out of the water, you will want to change the annode as well - another £100 or so.
Engine services are £200 / per engine roughly. We had two engines that got serviced twice a year (one service, one winterisation)
Sails for yachts aren't cheap. A new main will be £2 or £3k. Headsail will be £1k - £1.5kish. Kite will be about £1k. If you are racing, you may want to replace these every year or so. These aren't for North 3DL's or carbon sails - they are a lot more.
Overnight stays in Marina's will be £30 / £40 or so
Chandleries are just bloody expensive full stop. They will often charge 2 or 3 times the price of a local Halfords or Tesco for cleaning products etc.
Charts etc will set you back probably £25 / £30 a time. If you plan to go anywhere, you will need quite a few
Electronics aren't cheap at all. You can get all sorts of electricery ranging from basic speed, depth, wind speed through to fully integration GPS nav system etc, etc, etc.
Basically, there is a truck load to buy. The industry knows it has people over a barrel, so doesn't really worry too much about using lube before shafting you
Edited by schmalex on Tuesday 16th September 16:43
Pugsey said:
Ha! Here's a hint of what your in for costs wise! Got our first boat this year. Uttered the immortal words "fill her up mate". After 5mins the guy grinned and said " you haven't done this before have you?" me " er actually, no" him "well I'd make yourself a coffee if I was you" 40mins later it was NEARLY filled. Ouch!
haha - i know that feeling...Gassing Station | Boats, Planes & Trains | Top of Page | What's New | My Stuff