Cost of owning a Sunreef 80?

[startupguy]

Hey everyone,

First post here but been lurking for years. I’ve been blessed with the opportunity to sell my company, and will be in a position to own a large yacht.

I’ve chatted with the folks over at Sunreef in regards to customization and purchasing a 80’ sailing cat.

I understand all that goes into owning this yacht from a logistics standpoint, and have a charter scheduled in May.

I’d like to understand what I can expect to spend per year on crew salaries, maintenance, etc. for a 6 month live-aboard per year, with chartering the rest of time.

Cheers

[Matt Johnson]

Originally Posted by startupguy

Hey everyone,

First post here but been lurking for years. I’ve been blessed with the opportunity to sell my company, and will be in a position to own a large yacht.

I’ve chatted with the folks over at Sunreef in regards to customization and purchasing a 80’ sailing cat.

I understand all that goes into owning this yacht from a logistics standpoint, and have a charter scheduled in May.

I’d like to understand what I can expect to spend per year on crew salaries, maintenance, etc. for a 6 month live-aboard per year, with chartering the rest of time.

Cheers

Congratulations!

I'd be surprised if Sunreef couldn't put you in touch with some of their other boat's charter captains and get access to their books. These types of boats usually ran properly and will have accurate accounting figures instead of the just guesses.

Lagoon has a few of their new 77' on the water and they are all chartered. Maybe another source of this type of info.

[jordanbigel]

Originally Posted by startupguy

Hey everyone,

First post here but been lurking for years. I’ve been blessed with the opportunity to sell my company, and will be in a position to own a large yacht.

I’ve chatted with the folks over at Sunreef in regards to customization and purchasing a 80’ sailing cat.

I understand all that goes into owning this yacht from a logistics standpoint, and have a charter scheduled in May.

I’d like to understand what I can expect to spend per year on crew salaries, maintenance, etc. for a 6 month live-aboard per year, with chartering the rest of time.

Cheers

You are unlikely to find any useful data related to your question here on Cruisers Forum because "cruisers" do not have paid crews, or 80' yachts for that matter. I've seen a couple of members with 60' yachts in their profile, but I don't think they use paid crews either.

[Wheelguns]

A ballpark salary for a qualified licensed captain is $1,000 per foot plus benefits.

[Tin Tin]

Depends which country you want to operate in. Insurance will be a big ticket item depending on where you keep it too. In the past I have sourced financials of running boats in charter from charter companies who are willing to share (some are not) and then the companies that finance them as a charter package, they may provide a spreadsheet with many variables you can modify. Another avenue to explore is to find one for sale that is currently in charter and ask for the financials of that boats operations, you might have to sign an NDA.

[Fore and Aft]

Startupguy I always thought the way to make a million dollars in the marine industry was to start with two million and when you have lost the first milllion you get out of the industry. People must be making money but the operating costs and depreciation on some of these big charter boats must be eye watering. You basically have an asset (LOL) that doesn't appreciate and is getting worn out every day you own it regardless if it is earning you an income.
Cheers

[Mirage35]

Outside of my experience but it's probably like that section at the boat show marked "if you have to ask you can't afford it."

[Kinkircating]

I've researched this a bit myself. If you are purchasing a new Sunreef 80 and you are wanting to understand the true cost of owning this type of crewed boat, you should expect to spend about $900k year for the first 5 years or so. A huge chunk of this is the massive depreciation vessels like this see, if you are purchasing a used boat this could be a bit less. These boats do not retain their value well from what I have observed. But if you are rolling in the dough and this is what calls to you, go for it, you earned it! Plus, spending money is what keeps this whole economy moving.

Good luck and congratulations on the sale of your company!

[TrentePieds]

Startupguy:

Your screenname suggests that you know something about business. We take you at your word.

Therefore let's assume that you have googled and found that a Sunreef 80 lists at something like 8M Euros. We assume also that, as we would do if proceeding from a basis of ignorance about any given boat, you start with the WAG that annual MAINTENANCE costs (exclusive of OTHER ownership costs, financing, depreciation, etc., and crewing costs) will amount to something like 10% of acquisition costs.

May I suggest that as an erstwhile owner of a successful business, you call up your former CFO and ask him to advise you on the financial and legal aspects of what you are proposing to do. Surely, given that he's served you well in the past, he will do again if you ask him?

Bonne chance :-)!

TrentePieds

[Zanshin]

When dealing with larger yachts with crew, a common base ballpark figure is a progressive 10% of the boat value per year. By progressive I mean that the 10% is based on the purchase price and not on the depreciated value each year. That is for crew and general maintenance and long-term dockage and fuel for the generators. Fuel for travel and extended stays on board add to that base cost.

The Sunreefs are huge, I've been aboard an 80 before and felt like I could get lost in there for hours without a guide. The one I saw (I can't recall the name) had 2 permanent crew (a husband-wife combo sharing a cabin. Both qualified commercially) and one part-time nanny/deckhand for the kids. The Sunreefs do depreciate quickly. Don't expect to do much sailing, as the decks are so high that the mainsail is, relatively speaking, quite small and underpowered.

[caradow]

I don't want to be rude but I am curious as to just how much sailing you have actually done?
Guess that may relate to why you would want such a large boat.

Maybe charter a few captained large cats in the 50 -70 foot range and that may open other possibilities . A 60 ft cat is a big boat.

Such boats as HH, Gunboats,Outremer, Balance , Catanas, Atlantics etc. They might not be so boring and actually sail.
Otherwise just buy a powerboat because that is what you will be doing most of the time anyway in a boat like a Sunreef.
If the truth be known I have never personally sailed a Sunreef but know people who have.
I do wish you well.