I had never felt so good about NOT having a 14 million dollar boat!

@sunvegeta

11 ай бұрын

Funny you say that, cause I was feeling the same way!!

@JudgeDredd_

11 ай бұрын

@@sunvegetaif we all pool together, we can afford 2 hours aboard this thing!

@sunvegeta

11 ай бұрын

@@JudgeDredd_ 🤣🤣👍👍

@johndewey6358

11 ай бұрын

@@JudgeDredd_ And we will all paddle too!

@SoCalFreelance

11 ай бұрын

The two best days in a boat owner's life are the day they buy the boat and the day they sell it.

Best advice I ever got was: If you can only afford one boat, then you really can't afford one. 😂

@Iamalemonwhy

10 ай бұрын

that is true... anyone below 50 million net worth should not consider buying a yacht above 1 million price tag

@ElonHusky

3 ай бұрын

@@Iamalemonwhy you need 50 million annual profit from business to buy that thing

For those commenting on the $1,800 an inch number. He is not talking about the area (square inch) that needs to be painted, he is talking about the length of the boat divided by the cost to paint. A 100 foot yacht is 1,200 inches long. At up to $1,800 a foot its, up to $2,160,000 to paint that boat.

@emanuelfigueroa5657

10 ай бұрын

Thanks, that was kind of confusing.

@huemann7637

10 ай бұрын

🤯

@mikea5745

10 ай бұрын

Even Wall Street Journal misunderstood that. They tagged it as "$1800/Sq. In."

@dynamo1796

10 ай бұрын

That still doesn't make sense because hull shapes vary hugely. Then you've got the super structure which also varies widely. A long hull with a thin beam will be quicker that a deeper drafted vessel of the same length, or with a wider beam. I guess he $1800 per inch is a reference but it shouldn't be considered more than a very very rough guide.

@leaf16nut

9 ай бұрын

The *one* time where it is about the length 😏

I’m in Fort Lauderdale and this is a HUGE business here. STUPID money! Working on them is just an entirely different world from your normal day to day service calls. Without reservation EVERY crew member, EVERY ONE, was the most pleasant, educated, well spoken and nicest person you could ever meet! Always great crew members for sure. My invoice was paid via Zelle without complaint before I could put my street shoes back on and return to my car. I believe Fort Lauderdale is like the LARGEST port city in the US to do yacht maintenance. If you want it done, you come here! Having the Bahamas 90 miles away helps too!

@eamonshields2754

10 ай бұрын

Yes they call Fort Lauderdale “Venice of America” massive beautiful boats. Great point on the crew also. I’ve noticed that too with boat crews. They are almost always amazing, interesting, adventurous people. I Love Florida 🌴🌅🌊☀️

i saw a yacht in Croatia that cost $300m to purchase, $40m a year to run, had 32 crew, 3 helicopter pads, a heli hanger, a hospital, 3 pools, and a separate "support yacht" that cost an additional bunch of million a year. it amazes me how rich some people are. for those wondering it is called the Infinity

@MrSilverfish12

4 ай бұрын

It´s because these people focus on their residual income instead of amount in the bank. I hate to sound like those wealth guru´s but this is actually how it works. $40m a year is peanuts if you earn $1million every 10min

@ElonHusky

3 ай бұрын

Its for tax saving The owner probably a invstor/founder in a publically trded company he pledge his shares to get loan to buy his yacht with this loan he dont need to pay income tax

@LaSombraa

3 ай бұрын

If you’re buying a 300M yacht, you’re probably worth 10B+ at least….. and your yearly income insane.

@couchpotatoes5158

3 ай бұрын

@@ElonHusky yea, he’s the owner of Harbor Freight

@David-ud9ju

8 күн бұрын

Pretty sure you saw a navy frigate. Did the crew have guns?

My sibling works on a superyacht and a lot of her time is spent docked coordinating project managers, deliveries, and vendors working on upgrades and repairs. It's constant. In addition, making sure everything is stocked for crew.

I'm an accountant, and one of my client told me his happiest days with the boat is the day he bought it, and the day he sold it, even if you could comfortably afford the up keep, the constant expenses and issues with the ship is just plain annoying.

@smplfi9859

11 ай бұрын

especially if you choose to not live the lifestyle and are just choosing as a monthly outing. you will never see the full potential realized in service and should opt for private charters to get a similar experience. if you want to circumnavigate get a smaller boat that can utilize wind!

@johnyossarian9059

11 ай бұрын

Your client sure chose one of the most cliche sayings about boat ownership

@hometownmedic7355

11 ай бұрын

Yeah, that’s a pretty original and profound client you have there…

@thabiso_kgabung

10 ай бұрын

Nah that brother broke

@Iamalemonwhy

10 ай бұрын

Superyachts are not worth the money but anything sub 80ft which are normal yachts are good for you if you have the money.... If you are sitting on 200 million USD then it would barely cost you 300k a year to maintain it and you can go on some great private tours with your family in that yacht.... even if your net worth shrinks 5 million for that yacht you still have 195 millions and some great memories for your life

I still remember the thanksgiving when my cousin came up from Miami to tell us about his new job working with HVAC. He somehow ended up working for a dude who owns a super yacht, and was getting paid 6 figures for it. The reaction from my dad will always be one of the funniest things I've seen at our dinner table. Almost spitting out his sweet tea and yelling out "You make how much!?".

Thanks for the video. Made me reconsider buying a brand new super yacht!

Great video of Snowbird in LMC, Fort Lauderdale. We're a profitable charter yacht just need to run it like a business keeping an eye on expenses and having a good charter program.

Well that's really helpful when I've been researching the operational costs of owning a Sunseeker 115

Best friend you can have is a friend with a boat.

Nice video. I run a sailing charter business in New York Harbor. I keep things in top-tier shape and compliant, but my costs are nothing like those beasts. I also do most of my work myself in the off-season.

Thank you for sharing this beautiful yacht.

You have convinced me! I don't buy a 14 milions USD yacht, .... and was quite close to. :)

Great job and thorough.

Excellent, thank you.

I mean, if you know Amazons AMZT66 you can have your own Yacht top kek

Wow! Great thanks!

great video!

This a vell educational video !

The cost of maintenance comes out to 10 percent of its purchase price. Thank you for sharing.

"Costs towards their health insurance" as the editor switches to a side shot of the captain with the belly ambling along. Nice touch.

Educative didn't know about these expenses

Caring for the environment is only for the little people! Private jet to get to the boat, forget the environment. A week around the Caribbean in a gas-guzzling yacht, forget the environment. The list goes on.

@thenussbaum44

11 ай бұрын

You care for the environment, and I will have fun on the yacht.

@mazterz

11 ай бұрын

No one gives an f about the climate scam

@duckies717

11 ай бұрын

You too wouldn’t care about the environment if you had money. You cling to it because you hate seeing other people with money and it validates your miserable life 😂😂

@thenussbaum44

11 ай бұрын

@@duckies717 If that what you think. Some one that has to be insulting like you says a lot about you.

@zerocal76

11 ай бұрын

@@duckies717 na. I agree w his comment and im not miserable. The rich only care about anything that keeps them rich

Great, now I know all I need to buy one.

Beautiful 😍

I've always felt a yacht with wings is a better investment. 👍

And what about depreciation? I imagine it's much worse than a car's 30% per year

@smplfi9859

11 ай бұрын

surprisingly enough catamarans have a great retention, because they are more attainable for most and function as a better bluewater livaboard that can utilize wind. but for anything else, your assumption is correct and this video illustrates how unless you choose to commit to the lifestyle of livaboard you will probably never see the value in your boat realized.

@untouchable360x

11 ай бұрын

@@smplfi9859 Rich people don't like to buy used products.

@Random_dud31

11 ай бұрын

​@@untouchable360xno. Super super rich people don't like it buy used products. But semi super rich don't mind.

@FatGuyInaTruck

9 ай бұрын

It depends. If there's a big delivery delay, people will usually just buy a built vessel and retrofit it. That's why you see billionaires buying boats from other billionaires, because they don't want to wait 3-4 years for a custom build vessel.

Thank you wsj. I was about to buy a yacht. Now that I seen this video I’m not going to.

CAT charges for spare parts are huge. They make crazy profit from it.

This didn't include the depreciation cost. If you assume that it depreciates say, like a BMW, which is quickly and fast and approaches about 10% of its new value in about 10 years, it's fair to say that an additional $1 million should be added to the cost of this $15 million yacht. Or, the true cost of ownership is likely $3 million per year.

@opcn18

11 ай бұрын

Depreciation is heavily influenced by deferred maintenance and upgrades. In this category most yachts are 1 of 1 so it's really difficult to say what it will sell for in 5 or 10 years. There are some yachts that sell at 3 years for more than they cost new.

@Iamalemonwhy

10 ай бұрын

you dont buy new yachts.... you buy 5 to 8 year old yachts and then do the interior work yourself

@dougdavis8986

8 ай бұрын

Cars, on average, lose half their value in 3 years.

@grondhero

7 ай бұрын

Cars lose value driving out of the dealership; super yachts don't. Depending on the market and the awesomeness of your vessel, you could actually sell your yacht for _more_ than it cost you because another rich person is willing to pay extra to have a new(ish) yacht "right now" than waiting a few years for their custom build.

Great video!

Thanx

Based on these tremendous cost of maintaining a yacht it shocks me that super rich 1. Have and are willing to spend this money to have a yacht 2. How many days per year do they use this yacht. Don't they have other vacation places they go? 3. How much time do they have to be involved with the ships maintenance? Yes, I understand they delegate the work out, but they still have to approve the work and maybe even communicate with some of the vendors. It seems it would be so much easier just to charter these boats for 1 week to 1 month per year at the very most.

@louisazraels7072

10 ай бұрын

its a status symbol, much more impressive to invite business partners and other peers onto your yatch than a rented yatch

@mikea5745

10 ай бұрын

I don't think you have any concept for exactly how rich some people are. The ones buying yachts like these could afford an entire fleet of them if they wanted. They entirely delegate all the work for overseeing maintenance It's the modern equivalent of having a lawn 200 years ago. It's all about showing off how much money you can throw away

@davidr4523

9 ай бұрын

@@mikea5745 I am involved in mergers and acquisitions so I see business owners selling their companies or going IIPO on a regular basis. Just hard to believe these smart people are willing to invest in a transaction that is a guaranteed operating loss of millions per year .

@satyakammisra

8 ай бұрын

Tax purposes also. My company owner bought a Jet for $55 million to offset his next 3 years tax bills. He is kind enough to have me and family on his 150’ Sunseeker for 2 weeks every other year. We cruise Bahamas and Caribbean. He also spends several hundreds of thousands sometimes just to get his yacht transported to the Mediterranean or to Phuket. Yes, these yachts do not even cross the Oceans. Huge specialized yacht transporters drop them off at desired locations. The entire crew travels along and owner arrives to yacht location via his charter or own transport. Also, in Monaco during Formula 1 season, he is always outbid for berths or docking spaces. His boat is kept in “cheaper” berths at St Tropez. BTW, we had a catering bill of $20,000 one evening for dinner and drinks for 8 people.

@VinhNguyen92

8 ай бұрын

For a billionaire, buying a 14 million yacht is equivalent to a millionaire buying a 14k Toyota. The amount of wealth they have is just incomprehensible for normal people.

Nice gotta sounds like i need to start a yacht club.

I would like to know how much cost to rent 1 for a month? I bet it won't be nowhere near 1.9 and am guessing the owners don't use it for more then a month annually.

Y'all also forget, the more money you have the more the cost is pocket change, he said in the end most people that but big yatch really want to take care of them, even 5M a year is money most of these guys make in a good day

Fantastic overview on why we should eat the rich.

Wow they got Spike Jonze to play the role of the yacht mechanic/engineer 2:24 amazing casting

Very green.😊

You have two happy days with a boat. The day you buy it and the day you sell it

All the rich bashing aside, people forget that these yachts are not like a car, these yachts create a lot of jobs for a lot of people because of how much they cost to maintain. In many seaside communities like in Florida these boats make it possible for a lot of locals to live in places like the keys and have good paying jobs.

@Salutimondo

2 ай бұрын

Jealousy is blinkered unfortunately. Those jealous rich bashing people don't want to know about the inconvenient facts that you outlined.

Yacht : A luxurious holiday destination.

Why is everything "gummed up" on yachts?

I understand private jet - it's fast and comfortable, but I never understood yachts. What do you do for a month on one of this? Diving and swimming must be boring after one week.

@mikeincognito

Ай бұрын

depending what are you diving into.

I love the Wall Street Journal KZread channel so much!!! You always post videos that 100% interest me! And these are not too long and extremely and perfectly informative! From Luxury to war infos! I feel like you make these video for me! I love this KZread channel so much, it’s one of my favorites if not the favorite channel!!!!! ❤❤❤❤❤❤❤❤👏🏻👏🏻👏🏻👏🏻👏🏻👍🏻👍🏻👍🏻🙌🏻🙌🏻🙌🏻🙌🏻

Those caterpillar diesel engines ♥️

Depreciation huge too

What about depreciations???

Its incredible how many rich people there are in the world today.

Hey, nice yacht.

I love my kayak 😂😂😂

A boat is like hole in the water where you pore lots of Money into and it never ends

That's WHY they say owning a boat is like flushing money down a toilet UNLESS your super rich!

4:25 There's no way the paint costs $1800/in². If it was, that would mean a 10ftx10ft section would cost nearly $26 million. Painting an entire superyacht would cost billions of dollars. Does the WSJ no longer have editors?

@psych0hans

10 ай бұрын

Someone mentioned above that it’s likely linear inch and not square inch, still seems excessive.

@leaf16nut

9 ай бұрын

Comprehension skills lacking?

Gosh this sucks, I feel really bad for the yacht owners having all these expenses. I’m literally crying.

@Duck_31

9 ай бұрын

Feel bad!? It's not like someone put a gun on their heads and said buy a yatch or die. People can do whatever with their money

@jackmidd123

9 ай бұрын

@@Duck_31 r/woosh

I now know why I don’t have a yacht.😊

The gentleman carrying out the service on the main propulsion units is quoting a figure of $ 60 K / annum. That sounds rather steep? One must assume that they are amassing high hours?

costumery tip of 18% for the crew, sorry what after paying 200 k to go on the boat in the first place and get out of the port, on top of that you have to pay 18% from that as a tip Or did I get it wrong ? 5:10

@Iamalemonwhy

10 ай бұрын

this video is showing wrong information.... 80% of yachts dont have any crew, most are ownerdriven

@mattrussell9724

7 ай бұрын

??????@@Iamalemonwhy

❤❤❤❤

In what way shape or form is this an enjoyable way to spend your time and money??????

You might as well throw your money into the water. If it flies, floats or...., rent it.

@waisinglee1509

11 ай бұрын

That's why some people call boats a hole in the water.

@Iamalemonwhy

10 ай бұрын

people who have money dont think that way

How

Exactly the same with private jets. 😅

Well this is a problem I will never have !

None of this is true. The reporter was assigned to do a video demonstrating the ridiculous price of owning a yacht. So they haphazardly slapped together a random “worst case scenario” list. It would be like saying owning a home means you have to get a new roof and new central air every year, etc.

@singvogel7895

10 ай бұрын

It certainly did not sound that way to me. But good for you for supporting the hurt feelings of billionaires, just getting by on a shoestring.

@MondoMiami

10 ай бұрын

@@singvogel7895 Your response demonstrates my point. This story was aimed a gullible people who think “rich people bad.”

@Iamalemonwhy

10 ай бұрын

@@singvogel7895 billionaires or centimillionaires dont get hurt feelings that easily... they live in a very calm and composed environment... it is poor monkeys who dance the most trying to prove their superiority

Paint 1,800 $/sq. in. can't be right. It's almost 3M per square meter... and yachts have hundreds of square meters, easy!

@Iamalemonwhy

10 ай бұрын

its not that expensive...

@Luca-zq5lo

10 ай бұрын

@@Iamalemonwhy pocket money

So how do they make revenue ? Tourism?

Your on screen graphics states marine paint is $1,800 per square inch. That is over $200,000 per square foot. You're off by a factor of 50,000 to 100,000!

@motoryachtloon

11 ай бұрын

haha we thought the same thing..

@sierrapeaks

11 ай бұрын

He is not talking about the area (square inch) that needs to be painted, he is talking about the length of the boat divided by the cost to paint. A 100 foot yacht is 1,200 inches long. At up to $1,800 a foot its, up to $2,160,000 to paint that boat.

@MikeKoss

11 ай бұрын

@@sierrapeaks He said "per inch" but the graphics department put "per square inch" on screen.

@elliottdiedrich3068

8 ай бұрын

@@sierrapeaks It is not $1,800/foot, it is per inch; 1200 inches long x $1,800/ inch = $2,160,000

@guenthermichaels5303

3 ай бұрын

​@@sierrapeaksnever. Not for a 100 ft boat.

“If it flys, floats or f**ks… rent it” Felix Dennis

@Iamalemonwhy

10 ай бұрын

"i dont have money"felix denis

@thesolojourney8955

8 ай бұрын

Basically anything with a engine or a female.

If you can afford a yacht, you can afford to buy one under 80 feet. Happy sailing ⛵️

Yacht snow bird 13.9mil price 358gross tonnage volume 3.800nm range 12.000gallons= 45.000+liters Normally budget for a yacht would be no more than 10% of ur net worth . Cauz it's gonna cost u 10~20% of purchasing price for maintaining cost every year. 15~20% of ur net worth for yacht budget coud make your own yacht chartering yacht many times to earn maintaing cost .

I'm guessing if you can afford to buy one maintenance isn't a problem.

Still haven't considered one big problem, how to dock my helicopter on my yatch?

I think its all worth it.

A big historic house can also cost high % of the purchase price every year. With periodic big ticket items. And be used as little for globe trotters with diverse interests.

@BornAgainCynic0086

9 ай бұрын

But they usually appreciate in value, boats do not.

The two best days of yacht ownership? The day you buy it and the day you sell it.

I want one, or two.

For billionaires, they don't care because it's relatively small compared to their earnings.

Well, I guess my yatch dreams are no longer feasible. Definitely not at those prices.

Honestly if I was rich enough to buy a super yacht.. I would just live on it for fun!!

@nik3851

10 ай бұрын

Dude 100% I would for sure want to be able to sale and take care of it myself. I know I would need some help but I enjoy taking care of the things I have!

lies with they logic, thats the equivalent keeping your vehicle that you don't drive often in pristine condition, your NON commercial boat dont need to be recertified, and you dont need a crew 24-7 on a boat let alone any, and the boat they showed isnt even a super yacht just a mid level yacht over a boat

Motor LOON is $600K per week :)

I thought my 17ft center console was a lot to take care of 🤣

So, only get one... Got it.

"If it floats, flies or fornicates. Rent it, It's cheaper in the long run" - Felix Dennis

You left out internet. Almost 1 million a year for net that most of us would complain to be too slow

I’d love to see an estimate of Jeff Bezos’s carbon footprint.

Question is why have one at all even if you can afford it?

one day

wow

Conclusion: Rent it when you need it the most

Those looked like C-32 ACERT engines.

Not only is it a depreciating asset, it is rarely usable, and it comes with the pain of huge ongoing expenses whether it is chartered or not. It sounds like one of the worst assets to own.

Thank god I hadn't ordered mine 😅

Hmmm, I think I’d be content with a yacht half that size. 😅

In other words, no yachts in my future!

These figures make no sense. They said the yacht could be rented for $125,000 - $145,000 per week, which adds up to $5,200,000 per year. I understand it wouldn't be chartered every week, but even if it was chartered for 26 weeks per year, this still comfortably offsets the cost, which they claim to be $1,900,000?. Can someone with a bit more knowledge explain this please? I feel I may have missed something really obvious.

@elishawhite7487

11 ай бұрын

No boats are chartered that often

@dannyquinn9128

11 ай бұрын

@@elishawhite7487 how often are they chartered?

@elishawhite7487

11 ай бұрын

@@dannyquinn9128 max liks 20 weeks a year most about 10 weeks

@brandonadams7837

11 ай бұрын

Most yachts summer in Med and winter in Caribbean. Take out time the owner uses it and scheduled maintenance at the marina or dock, and most are only chartering 10-20 weeks annually.

@Iamalemonwhy

10 ай бұрын

26 weeks a year.... a yacht costs 150k pw to charter... we dont have enough rich people to charter so many boats

this isn't even counting when you have to replace a flat tire on the boat trailer