The ultimate guide to chartering a luxury yacht in 2023: from understanding pricing to choosing the right destination and finding a broker, a Google executive shares his top tips

Ware set a budget of US$120,000 to US$160,000, shared among four couples, to sail around the Amalfi Coast for a week last September. He clicked a link to a broker on the website of one of the world’s leading yachting companies, IYC, reviewed her profile on LinkedIn, and proceeded from there, booking his dream holiday on a 35-metre yacht with a crew of six.

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But as Ware quickly learned, booking a yacht is unlike booking any other kind of travel. It requires a vision of where you want to go, as routes are individualised; the ability to parse the differences between types of yachts (sailing vs motor); and some knowledge of pricing, since provisioning and fees can add dramatically to the base prices listed online.

The good news is that this is a great time to get on board. More yachts are available to charter than at the height of the Covid-19 pandemic, when owners took their boats off the rental market in order to use them with their social bubbles.

Here’s a comprehensive guide to what you should know before booking a yachting trip – and whom to call and where.

Setting a budget

In general, spending a week on a yacht can cost anywhere from low five figures to several million dollars.

On the more affordable end, you might spend about US$20,000 for a 14-metre, four-passenger sailing catamaran with a husband and wife crew serving as captain, chef and chief bottle washer, booked from the Moorings in the British Virgin Islands. Or you can spend some US$3 million for a week on the Flying Fox, a four-year-old, 136-metre-long vessel with a 55-person crew, a 12-metre pool and an lift between decks.

But charter prices are determined by factors far more complicated than the bells and whistles that will catch your eye. They include the size and type of yacht, the age of the boat, the number of crew, and what amenities are on board.

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An important consideration: online prices typically show only a base cost, covering the yacht and crew. In most cases, everything else is extra – the food and drinks, fuel, dockage fees, taxes, VAT and anything you want to spend on land.

Don’t forget about gratuities – which are not included in the advance pricing agreement (APA). These are paid in cash at the end of the trip. Suggested amounts range from 10 per cent to more than 25 per cent of the base charter yacht fee.

All-in, with tips, Ware and his friends spent US$50,000 per couple – roughly US$3,500 per person, per day – for their one-week charter yacht experience.

Choosing and working with a broker

In general, brokers are paid by the yacht owners. But rather than acting as an agent for the boat, they are more of a matchmaker in a transaction where finding the right ship is just the beginning.

Almost every detail needs to be decided in advance, from a personalised route to activities and what you would like to eat and drink. You can choose to be spontaneous, but your broker can guide you through the implications of that type of trip.

In the absence of personal recommendations, you can reach out to contacts from major companies. The four best-known yacht brokerages serving destinations around the world are Burgess, Fraser, IYC and Northrop & Johnson.

Ware found his broker this way: June Montagne, the independent IYC contractor Ware chose, represents more than 3,000 charter boat options.

“Do your due diligence,” she adds, pointing to the alarming number of people who will wire her five- and six-figure deposits without “really asking many questions”.

Things you can ask about, she says, are how many yachts they represent within your price point and where they are located, or if they have a deep expertise in any particular region. Some brokers may just work with more luxurious vessels; others may know every nook and cranny of the Aegean Sea. Look for a broker that gives you advice rather than replying to emails with formulaic answers, and be sure you click on a personal level.

Don’t be surprised if the broker interviews you, too. It’s important they know your detailed preferences in order to customise a trip – or properly adjust your trip, if necessary.

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Where to go

For Ware, the idea of chartering on the Amalfi Coast came after watching Bravo TV’s dramatic Below Deck, says his wife, Ashley Kendrick, 52, retired from the mortgage business.

Montagne says you can still book Italy this summer. The same applies to Greece and Croatia, also particularly popular this year with her clientele. Occasionally, brokers will get word of last-minute discounted pricing offers.

If you want to avoid tourist crowds, consider travelling in September or October in the Mediterranean, a time you’ll also find off-season prices. Or look at such alternative routes as sailing the Peloponnese from Nafplio in Greece, rather than dealing with tourist throngs in Mykonos and Santorini. (You may ask about destinations with lower VAT pricing to extract value – those taxes are 0 per cent in Turkey and Montenegro, but 21 per cent in Spain and 22 per cent in Italy.)

Another top yachting company, Fraser, suggests Southeast Asia or the South Pacific as alternatives to the Caribbean come winter. You can bop around the Thai islands on the 32-metre, 12-guest Camara C for US$76,200 per week in the winter high season, or explore French Polynesia on the 37-metre Masteka 2, with its eight-seat hot tub, from US$115,000 per week.

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Sightseeing on land vs days at sea

Most people think the whole trip is planned once the yacht is booked, but decisions remain, says Mitja Mirtic, chief executive officer and co-owner of Slovenia-based charter company Goolets.

Setting the route and deciding what types of activities you want to do on land – sightseeing, meals at local restaurants, nature hikes, beach visits – are just as important on a yacht trip as they are on a more conventional, land-based holiday. You’ll also want to make decisions around the on-board menus, for proper provisioning.

Just make sure to allow some free time. Travellers often underestimate the allure of allowing the captain to improvise by, say, pulling into a secluded cove for a pre-breakfast swim, Mirtic says. “I do believe that over-planning usually takes some fun out of the whole experience.”

For on-the-water fun, some yachts come with a veritable water toy playground: paddle-boards, kayaks, water trampolines, WaveRunners and water skis are just the beginning. In the Caribbean, the family-friendly, 73-metre Titania comes with a 13-metre-tall water slide coming down from the sundeck, plus an inflatable playground with slide, for US$615,000 a week. If you don’t find what you want in a yacht listing, you may be able to request that toys be added for a fee negotiated in advance.

Lastly, don’t overlook the most important item of all: the guestlist.

“Make sure you are with people who you want to spend time with,” says Ware.