Average Cost of Buying & Owning a Yacht in India (with 4 examples)
The number of yacht owners has significantly increased in recent years, particularly in the coastal cities of Mumbai and Goa. This is due to the growing popularity of yachting as a recreational activity among the affluent class in India, as well as the increasing availability of high-quality yachts and yacht services in the country. Yacht prices remain competitive and depend on factors such as the yacht's brand, age, and condition.
The average cost of new yachts is around 2–3 crores (₹20–30 million or $270,000–$405,000) for smaller yachts and can go as high as 1,000 million INR ($135 million) for larger yachts. Ownership costs involve annual maintenance expenses ranging from Rs. 1 lakh to Rs. 5 lakh ($740 to $3,700) per year.
The total annual cost of owning a yacht, inclusive of maintenance, can range from ₹2 lakh to ₹5 lakh or more, depending on the size and type of yacht you choose. Below, you'll see a breakdown of this cost.
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Summary
- Operating costs for yachts, including fuel, crew, and other expenses, could be around 10% to 20% of the yacht's value each year.
- Expect to pay around 1% to 2% of the yacht's value annually for insurance coverage.
- Consult with maritime law experts and tax professionals about the legal clearances and tax considerations involved in purchasing a yacht in India.
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Cost of Buying a Yacht in India
A yacht is a larger boat primarily used for recreational or leisure purposes. Owning a yacht in India allows you to explore the country's vast and beautiful coastline at your leisure. As a yacht owner, you have the freedom and flexibility to plan your own trips and vacations, creating memories with your friends and family.
| Buying Yachts in India | Cost of New | Cost of Used |
|---|---|---|
| Sailing yachts | ₹50 lakh to ₹3 crore (5 to 30 million rupees) | ₹10 lakh to ₹50 lakh (1 to 5 million rupees) |
| Motor yachts | ₹1 crore to ₹50 crore (10 million to 500 million rupees) | ₹50 lakh to ₹10 crore (5 million to 100 million rupees) |
| Catamarans | ₹1 crore to ₹20 crore (10 million to 200 million rupees) | ₹50 lakh to ₹5 crore (5 million to 50 million rupees) |
| Superyachts | ₹300 crore to ₹1,500 crore (3 billion to 15 billion rupees) | ₹50 crore to ₹300 crore (500 million to 3 billion rupees) |
| Imported yachts | ₹1 crore to ₹500 crore (10 million to 5 billion rupees) | ₹50 lakh to ₹50 crore (5 million to 500 million rupees) |
| Custom-built yachts | ₹5 crore to ₹500 crore (50 million to 5 billion rupees) | ₹1 crore to ₹50 crore (10 million to 500 million rupees) |
Here's a table of the costs in USD:
| Yachts in India | Cost of New Yachts | Cost of Used Yachts | Costs of Owning a Yacht per Year |
|---|---|---|---|
| Sailing yachts | $65,000 to $405,000 | $13,000 to $65,000 | $15,600 to $71,500 |
| Motor yachts | $130,000 to $6,500,000 | $65,000 to $1,300,000 | $100,100 to $481,000 |
| Catamarans | $130,000 to $2,600,000 | $65,000 to $650,000 | $15,600 to $71,500 |
| Superyachts | $39,000,000 to $195,000,000 | $6,500,000 to $39,000,000 | $1,768,000 to $8,515,000 |
| Imported yachts | $130,000 to $65,000,000 | $65,000 to $6,500,000 | $422,500 to $1,716,000 |
| Custom-built yachts | $650,000 to $65,000,000 | $130,000 to $6,500,000 | $1,768,000 to $8,515,000 |
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Sailing yachts: These are powered by sails and offer a more traditional sailing experience. They can be a more eco-friendly option due to their lower fuel consumption, but they may require more skill and knowledge to operate.
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Motor yachts: These are powered by engines, making them faster and more straightforward to navigate than sailing yachts. Motor yachts are typically larger and more luxurious, providing various amenities and comfort options for you and your guests.
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Catamarans: Catamarans have two parallel hulls, offering more stability and space than other yachts. Due to their design, catamarans provide a smoother ride and are ideal for those who want more space or are prone to seasickness.
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Superyachts: These are the epitome of luxury yachting, typically longer than 80 feet and featuring multiple decks, spacious cabins, and state-of-the-art technology. Superyachts are ideal for the wealthiest yacht owners, as they come with a hefty price tag and high maintenance costs.
Cost of Owning a Yacht in India
In this section, we'll explore the operating costs for yachts, including maintenance, docking fees, insurance, fuel, and crew expenses. As a general rule, these could be around 10% to 20% of the yacht's value each year. This percentage can give you a rough idea of ongoing expenses, but keep in mind that every yacht and situation is unique, and actual costs may vary.
| Owning a Yacht in India | Sailing Yachts | Motor Yachts | Catamarans | Superyachts | Imported Yachts | Custom-Built Yachts |
|---|---|---|---|---|---|---|
| Maintenance per year | ₹2 lakh to ₹10 lakh | ₹5 lakh to ₹20 lakh | ₹2 lakh to ₹10 lakh | ₹50 lakh to ₹3 crore | ₹10 lakh to ₹50 lakh | ₹50 lakh to ₹3 crore |
| Docking fees per year | ₹2 lakh to ₹10 lakh | ₹5 lakh to ₹20 lakh | ₹2 lakh to ₹10 lakh | ₹50 lakh to ₹3 crore | ₹10 lakh to ₹50 lakh | ₹50 lakh to ₹3 crore |
| Insurance per year | ₹1 lakh to ₹5 lakh | ₹2 lakh to ₹10 lakh | ₹1 lakh to ₹5 lakh | ₹20 lakh to ₹1 crore | ₹5 lakh to ₹20 lakh | ₹20 lakh to ₹1 crore |
| Fuel per year | ₹2 lakh to ₹10 lakh | ₹10 lakh to ₹50 lakh | ₹2 lakh to ₹10 lakh | ₹1 crore to ₹5 crore | ₹50 lakh to ₹2 crore | ₹1 crore to ₹5 crore |
| Crew expenses per year | ₹5 lakh to ₹20 lakh | ₹10 lakh to ₹50 lakh | ₹5 lakh to ₹20 lakh | ₹3 crore to ₹10 crore | ₹50 lakh to ₹2 crore | ₹3 crore to ₹10 crore |
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Regular maintenance: The cost of maintenance depends on the size and type of your yacht. The cost can increase over time, especially as your yacht gets older and requires more extensive repairs. Maintenance costs generally include cleaning and painting, engine and mechanical work, electric and electronic system repairs, and plumbing and sewage system maintenance.
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Docking fees: These fees can vary based on the location, amenities, and services provided by the marina. To get a better understanding of docking fees for your yacht, research marinas near your desired location and request quotes for docking services. Don't forget to account for any offseason hauling and storage fees if your yacht needs to be taken out of the water during the winter months or while you're not using it.
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Insurance costs: Yacht insurance is vital to protecting your investment from various risks, such as accidents, theft, or natural disasters. Insurance premiums are usually determined by factors like the yacht's value, size, age, and intended usage. As a rough estimate, you can expect to pay around 1% to 2% of the yacht's value annually for insurance coverage. However, this percentage could vary based on your specific yacht and insurance provider.
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Fuel and crew expenses: Depending on your yacht's size, you might need to hire a professional crew to manage and maintain it. Crew salaries depend on their roles and experience, which can significantly affect your annual yacht expenses. In addition, fuel costs will vary according to the size of your yacht's engine and the distance traveled.
To get a taste of sailing before you buy a yacht, you can make a private reservation. Here's the average price to book a private yacht in Mumbai.
Four Examples of Yachts and Their Costs in India
| Yachts in India | Estimated Cost |
|---|---|
| Small sailing yacht (less than 50 feet) | ₹2 crore to ₹3 crore (20 to 30 million rupees) |
| Mid-size luxury yacht (50 to 60 feet) | ₹5 crore to ₹30 crore (50 to 300 million rupees) |
| Large motor yacht (over 70 feet) | exceed ₹70 crore (700 million rupees) |
| Mega yacht (over 100 feet long) | several hundred crores (billions of rupees) |
When looking for a yacht, it's essential to take into account the size, features, and costs. Here are four examples of yachts available in India, showcasing a range of sizes and costs.
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Small sailing yacht: Perfect for a leisurely sailing experience, a small sailing yacht can cost around ₹2 crore to ₹3 crore (20 to 30 million rupees) depending on its age and condition. These boats are generally less than 50 feet in length and can accommodate up to six people. With lower maintenance costs and fuel consumption, it's an excellent option for beginners and weekend sailors. Here is an example of an average price for a small sailing yacht.
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Mid-size luxury yacht: As you move up in size and amenities, a mid-size luxury yacht of around 50 to 60 feet in length can cost anywhere from ₹5 crore to ₹30 crore (50 to 300 million rupees). These vessels are built for comfort and offer improved accommodations, entertainment areas, and more advanced navigation systems.
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Large motor yacht: As the size continues to increase, large motor yachts measuring over 70 feet in length can easily exceed ₹70 crore (700 million rupees). These yachts are more luxurious, come with state-of-the-art technology, and can accommodate more guests. With more power, they are perfect for long-range cruising and hosting exclusive events.
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Mega yacht: For the ultimate yachting experience, mega yachts are considered the pinnacle of luxury and status. Over 100 feet long, the price tag can reach several hundred crores, based on the level of customization you desire. Mega yachts, as their size suggests, are equipped with advanced technology, luxurious amenities, and plenty of space for entertaining.
New yachts in India
You can expect to spend anywhere from 2 to 30 crores (20 to 300 million rupees) for a new yacht, depending on the size and features of the yacht. Smaller yachts will typically be on the lower end of this range, while larger yachts will be more expensive. Some factors to consider when purchasing a new yacht include the brand, build quality, and additional features.
Used yachts can be more affordable than new ones
These are more affordable, especially if you're willing to compromise on certain features or the age of the yacht. In general, you can expect to spend around 60–70% of the original price on a used yacht. Keep in mind that the condition and maintenance history will play a significant role in determining the price of a used yacht, and it's crucial to carefully inspect any used yacht before making a purchase.
Imported yachts to India
The cost of an imported yacht will depend on factors such as the country of origin, size, and specifications of the yacht. Additionally, you may face additional costs like import duties, taxes, and shipping expenses. It's essential to familiarize yourself with the legal requirements and tax implications of importing a yacht to India before making a decision.
Custom-built yachts for a unique experience
These personalized yachts offer the opportunity to design and create your dream yacht. The cost of a custom-built yacht can vary widely, depending on factors such as the size of the yacht, the materials used, and the complexity of the design. While custom-built yachts can be expensive, they offer unparalleled personalization and luxury for those willing to invest.
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