Yacht chartering can be confusing when it comes to nailing down just EXACTLY how much it will cost! We’ll try to make it as SIMPLE as possible.
When chartering a yacht, there are three costs involved.
1. The cost to “rent” the yacht itself and its crew
2. The provisioning costs – these include all costs incurred during the charter such as food, drinks, water, electricity, fuel, dockage etc.
3. A gratuity for the crew
The first cost is fixed and you’ll know exactly what that will be.
The provisioning costs can vary, they are generally estimated at 30-40% of the rental costs. Normally, an “advanced provisioning allowance” is collected prior to the charter. This is normally that same 30-40% of the rental costs. During the charter, the crew tracks all the costs incurred and you’re given a detailed accounting shortly after you get home. These costs are applied to the advanced provisioning allowance and you’re responsible for any overages and you will receive a refund if you didn’t spend it all.
The gratuity is discretionary, but industry standard is 15-20% of the rental costs.