Boat expert breaks down how much it costs to run a $1.34 million yacht and it costs more than most supercars

This boat expert broke down how much it costs to run a $1.34 million yacht, and it costs more than most supercars.

James, from Boats.co.uk, gave viewers a breakdown of all the costs that come with running the Princess 60.

With a name like that, you can expect a big cost in terms of maintenance.

And you’d be right to think that.

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This boat expert explained how much it costs to run a $1.34 million yacht

This yacht is stunning, decked out with a saloon and several cabins to choose from.

The 2016 Princess 60 is just about as luxurious a name as you can get for a yacht.

And with a price tag of $1.34 million, you have to expect some big expenses to come along with that.

A 60-foot boat won’t run for free.

Fortunately, Sam from YouTube channel Boats.co.uk was there to break down all the figures for us.

First up, there were the fuel running costs.

UK fuel cost was $2.42 (£1.80) per liter, which is around $484 (£360) an hour – and this comes out at roughly $24k (£18k) a year, assuming the boat sees 50 hours of engine use in that time.

“A lot of people will say ‘Ooh, that’s a lot of money’,” Sam said.

“But this is a 40-ton boat, it’s like moving a house along the sea.”

Now, we know that $1.34 million ($1.15 million) was the ship’s price, but there are some circumstances in which a buyer may not be able to pay the total upfront.

So if somebody did go for a payment plan, they could expect to pay around $129k (£96,000) a year.

With berth, servicing, and maintenance factored in, the total comes out at approximately $273k (£203k) a year.

However, the final figure was a little more nuanced than that.

“I would estimate that about half of those costs are actual ‘cash burn’ costs,” Sam said.

“And the other half is money you’re investing into the boat in terms of its capital, which you should get back.”

Even at a halved figure, this is still a pricey boat to keep running.

Not cheap at all.

Yachts – it’s no small feat to keep them sailing

To keep a superyacht up and running is a big endeavor.

Practically every facet of the yacht lifestyle is expensive – which is why Joe Rogan pays $640,000 a week to charter this 217-foot boat.

And that’s small fry to the $1.4M that Magic Johnson was spending on his in that same timeframe.

Nobody was under any illusions that these boats wouldn’t cost a pretty penny – and that’s part of the appeal.

To see a boat expert give a cost breakdown of a $1.34 million yacht for yourself, visit the Boats.co.uk YouTube channel.

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