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MAR 04, 2013 - Business Insider

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It Costs An Enormous Amount Of Money To Operate A Luxury Yacht

It's clear that buying a luxury yacht costs a lot of money. Less obvious is just how much cash is required to keep a yacht running once it finds an owner. In an interview about "Grand Ambition," his book about private equity investor Doug Von Allmen and his luxury yacht "Lady Linda," G. Bruce Knecht told the New York Times, "Operating and maintaining a yacht is at least 10 percent of what the thing cost." So the owner of a $10 million yacht should expect to pay $1 million every year to keep it running. Both Kim Kavin, the charter editor at Yachting magazine and editor of CharterWave.com, and ... Read More

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