THINGS TO KNOW BEFORE INVESTING IN A YACHT
As Naples is one of the wealthiest U.S. waterfront cities, it is no wonder that yachts are iconic in the Naples Bay and Gulf of Mexico. Naples residents know how to both work hard and play hard, which is where yachts fit into the daily life for locals and for tourists’ entertainment. Before investing in a yacht, though, there are a few things to consider:
Do you want a standard, mega, or superyacht? Standard yachts are typically 30-150 feet, while mega yachts range from 100-200 feet, and superyachts are 200 feet and well beyond. The size of your yacht will be dependent upon the purpose of owning a yacht, be it business, leisure, or both. Whether traveling for business or leisure, yacht owners need to take into account how many people will regularly be aboard, have knowledge of local water depths and obstacles, and where they will dock a craft of such magnitude.
With a wide range of sizes and amenities, the initial cost to purchase a yacht also varies greatly. Aside from the initial purchase price, though, there are many other costs to consider: crew, fuel, maintenance, dockage, and insurance. It is estimated that yacht owners spend 10% of the initial purchase price for the yacht annually on upkeep. Standard yachts are much more common for this very reason. Superyachts are typically owned by billionaires, but with Naples residents landing positions on the Forbes list of richest billionaires, it is not unheard of for a Neapolitan to own such a luxurious vessel.
Yacht brokers serve as real estate agents for yachts. Whether you are in pursuit of a new or used yacht, a yacht dealer can assist you in all aspects of the investment. Brokers can not only help you find the best yacht for your needs, but they can also negotiate, file documentation, assist with inspections, and make sure you have an overall positive experience.