5 great reasons to join the luxury yacht charter market
Nowadays it seems as though there is an almost endless choice on the charter market and new expedition yachts, sailing yachts and open yachts are available to charter sometimes weeks after being delivered to their owners.
Brand new and recently refitted yachts are some of the most desirable to charter guests, as are classics that provide ambiance and stories. The sooner the superyacht is on the market, the more chance it has of gaining a prestigious reputation that makes it desirable in decades to come.
More and more owners are waking up to the advantages of putting their superyacht on the charter market, from the obvious chance to offset operational costs to far more subtle and long-lasting benefits. Read on for the top five best reasons to add your superyacht to the charter market.
Reduce or offset ownership costs
"The day you buy and the day you sell are the happiest days of owning a yacht," or so goes the saying, although this doesn't have to apply to you.
While the cost of a berth, maintenance and paying the crew all add up to give new owners a nasty shock, the shrewd and the experienced will realise the sooner their luxury yacht is on the charter market, the sooner it starts paying for itself.
While the Mediterranean, Caribbean and Bahamas are the most popular charter destinations, the South Pacific, South East Asia and even Antarctica are opening up to ensure that whatever type of superyacht you have, there is an audience who can't wait to book it for charter.
Earn income from charters
Superyachts can earn a significant income, especially for event charters such as weddings, honeymoons and anniversaries. There is a type of yacht to suit everyone, from catamarans for family groups looking to spend their days at the beach to expedition yachts packed with amenities heading to the coldest ends of the Earth.
As well as offsetting maintenance and berthing costs, charter income can be used towards a refit, a brand new superyacht or to bolster other projects in your portfolio during the summer and winter peak periods which can provide steady cash.
Maintain operational efficiency
Just like a home, superyachts need to be used and maintained to prevent nature coming in and taking over: Chartering during the busy summer and winter seasons is a great way to prevent parts from gathering rust and the crew are more likely to catch small problems before they develop into major issues. Chartering a superyacht keeps it in constant use, keeps it maintained and increases its lifespan.
Give the crew the potential to grow
Putting together the perfect crew with incredible skills and personalities takes time and effort but once you've succeeded your work isn't done: You've got to keep them.
If your crew think that their skills are not being used or not getting the opportunity to advance, they may start looking for work elsewhere. Charters give your crew a chance to show off their skills, whether it's creating Michelin-quality meals for a wedding celebration, giving instruction for beginner Scuba divers and jet skiers or providing beauty and spa treatments. Guests can tell when a crew is enjoying their work, resulting in positive feedback which in turn leads to more repeat charters.
Turn your luxury yacht into a legend
Luxury yachts MALAHNE, CHRISTINA O and SHENANDOAH OF SARK all have one thing in common - an established reputation. M/Y MALAHNE took part in the WWII rescues at Dunkirk, CHRISTINA O has hosted politicians and celebrities while SHENANDOAH OF SARK was built in the final years of the age of the sail.
Putting your yacht on the charter market offers the chance for you to network, and celebrities aboard your superyacht have the potential to reach millions of followers in a matter of moments through social media.
This free form of advertising has multiple benefits: A seal of approval and a current profile on the charter market to catch the eye of expert charter brokers as well as your target audience.