How Much Does a Yacht Cost in Canada?

Yachts are a fantastic way to explore Canada’s stunning waterways and coastlines. They also double as a private retreat and a means to entertain guests in an extraordinary way. For those with considerable funds and a passion for adventure, owning a yacht might be the next exciting step. Luxury Yachts Co. offers a comprehensive yacht brokerage service with a wide selection of new and pre-owned luxury yachts for those in the market for a new vessel.

That being said, prospective buyers must recognize that yacht ownership is a long-term commitment with significant financial considerations beyond the initial purchase price. In this blog, we’ll delve into the average cost of yachts by size and type to help you make an informed decision.

How Much Does a Private Yacht Cost?

Several factors influence yacht pricing, including size, brand, age, condition, and included features. The number of days a yacht is on the market can also affect its selling price. Yachts listed, removed, and re-listed to appear new can also impact value.

It’s also worth noting that yacht owners often set prices based on their desired profit margins, leading to noticeable disparities in pricing even for yachts of similar sizes. This variation means you might encounter yachts priced higher or lower than the average ranges you’ll see below. In Canada, where weather conditions shorten the selling season, the average costs for various yacht sizes are as follows:

How Much Does a Small Yacht Cost? (Under 40 Feet)

In Canada, small yachts under 40 feet typically range from $800,000 CAD to $1,200,000 CAD. Costs vary based on the brand, age, condition, and features. Newer models with advanced technology and luxury finishes will be on the higher end of the spectrum. These yachts are ideal for short trips and smaller groups, offering essential amenities for comfort.

When you buy from Luxury Yachts Co., we provide free boat history reports, coordinate with expert surveyors and mechanics, and conduct thorough yacht lien searches for a secure and undisputed ownership transfer.

How Much Does a 40-Foot Yacht Cost?

Pricing for mid-sized yachts between 40 and 70 feet typically ranges from $900,000 CAD to $5,000,000 CAD. These yachts offer more space, better performance, and additional features like multiple cabins, advanced navigation systems, and more powerful engines. Mid-sized yachts are suitable for longer trips and larger groups, providing a higher level of comfort and luxury. 

If you’re drawn to the adrenaline rush of cruising, mid-sized racing yachts are sometimes priced cheaper since they’re built for speed and lack the amenities that private luxury yachts are known for.

Luxury Yachts Co. boasts an entire inventory of speedy powerboats and cutting-edge luxury yachts sold at affordable and competitive rates with easy payment solutions.

How Much Does a 70-Foot Yacht Cost?

Large yachts measuring 70-90 feet long can range from $5,000,000 CAD to $10,000,000 CAD or more. These yachts offer extensive amenities, including multiple decks, spacious cabins, gourmet kitchens, and entertainment systems. They are designed for extended voyages and can accommodate larger groups with a full crew.

For those who find the upkeep and costs of a large luxury yacht daunting, chartering a yacht in Toronto provides an excellent alternative. Chartered4 boasts a wide selection of yacht charters, giving renters the opportunity to experience top-tier amenities and VIP treatment without the ongoing costs and commitments that come with ownership.

How Much Does a 100-Foot Yacht Cost?

Superyachts measuring 100 feet or longer generally start at $10,000,000 CAD, with prices for newer models potentially reaching hundreds of millions.

These yachts represent the pinnacle of luxury, often featuring custom designs, expansive spaces, and top-tier amenities such as swimming pools, helipads, gyms, and onboard spas. They offer unmatched comfort and are typically crewed by a professional team.

Some of the world’s most famous superyachts include the Eclipse owned by Roman Abramovich, featuring two helipads, a submarine, and its own missile defence systems. The Azzam, owned by Sheikh Khalifa bin Zayed Al Nahyan, is currently the largest private yacht in the world measuring 590 feet in length. 

The History Supreme, designed by Stuart Hughes, is the most expensive and adorned with gold and precious stones. Another notable yacht is the Serene, owned by Mohammed bin Salman, known for its luxurious amenities, including an underwater viewing room.

New vs. Used Yachts

When considering the purchase of a yacht, buyers are faced with the decision of choosing between a new or used vessel. Each option has its unique advantages and disadvantages, impacting factors such as cost, customization, and overall experience. Understanding the key differences can help prospective yacht owners make an informed choice that aligns with their needs and preferences.

New Yachts

Purchasing a new yacht offers the advantage of owning a vessel with the latest technology, modern design, and no previous wear and tear. New yachts come with warranties, providing peace of mind regarding potential repairs or maintenance issues. 

However, the cost of a new yacht is significantly higher than that of a used one, often requiring a substantial initial investment. On the upside, customization options are plentiful, allowing buyers to tailor the yacht to their exact specifications and desires.

Used Yachts

Opting for a used yacht can be a cost-effective way to enter the yachting world. These vessels have already experienced initial depreciation, resulting in a lower purchase price. Used yachts often come with a proven track record, offering insight into their performance and reliability. 

However, they may require more frequent maintenance and repairs due to previous usage. Buyers should conduct thorough inspections and consider the history of the vessel before making a purchase.

Whether you’re buying or selling a new or used yacht, working with a reputable yacht broker greatly simplifies the process. Yacht brokers provide expert guidance, helping buyers find the right vessel that fits their needs and budget. 

For sellers, brokers provide maximum visibility and access to a network of potential buyers, streamlining the sales process. Luxury Yachts Co., with its extensive experience and dedicated team, offers personalized service and deep market insights, making the process seamless and efficient.

How Much Does it Cost to Own a Yacht?

Owning a yacht is often seen as a symbol of luxury and freedom on the open waters. However, the reality includes a range of expenses that can add up quickly. Here, we break down the essential costs you should consider if you’re planning to own a yacht in Canada.

1. Registration and Licensing Fees: In Ontario, boats with motors over 15 horsepower must be registered and licensed. Obtaining an Ontario boat license or a Pleasure Craft Operator’s Card (PCOC) costs about $40 and is valid throughout Canada. A separate $250 registration fee is required to legally operate a boat in Canadian waters, which includes securing the vessel’s name.
2. Mooring Fees: Mooring fees cover securing a spot at a marina, typically offshore, accessed by a dinghy. Fees range from $1.25 to $2.00 per foot for overnight stays at public sites. Seasonal rates offer more value at about $11.00 per foot, while private marinas may charge around $20.00 per foot.
3. Haul-Out and Launching: Haul-out services, including lifting, pressure washing, and storing a boat, cost $10 to $20 per foot. Launching the boat back is often similarly priced. Annually, expect to pay around $2,000 for haul-out and launching for a mid-sized yacht. Contact your local marina for specific prices.
4. Cleaning Supplies: Professional yacht cleaning services range from $20 to $30 per foot, covering both interior and exterior cleaning. Costs can increase based on the yacht’s size and condition.
5. Shrink Wrapping: Shrink wrapping costs $12 to $25 per foot, with larger boats incurring higher costs. Additional features like vents and anti-mould treatments increase the total cost.
6. Winterizing: Winterizing a yacht in Canada costs between $199 and $425, depending on the engine type. Premium yachts may see costs rise into the thousands. Services include draining fluids and adding antifreeze to protect the engine.
7. Safety Equipment Replacement: Budget around $300 annually for replacing essential safety gear like life jackets, flares, and fire extinguishers to ensure they are functional in emergencies.
8. Fuel Costs: Smaller yachts (around 40 feet) use 20 to 40 gallons of fuel per hour, while larger yachts (over 100 feet) use over 100 gallons per hour. Marine diesel costs $3.20 to $3.90 per gallon, with petrol ranging from $7.20 to $7.80 per gallon. Fuel consumption increases with cruising speed.
9. Insurance: Annual insurance costs about 1.5% of the yacht’s market value. For a $400,000 yacht, insurance would be approximately $6,000 per year, covering damage, theft, and liability.
10. Survey: A yacht survey in Canada costs $15 to $30 per foot, depending on the vessel’s size and complexity. Surveys are essential for assessing the yacht’s condition and value when purchasing.
11. Depreciation: Yachts depreciate similarly to cars, with a 10% drop in the first year and 7% annually thereafter. Depreciation rates vary based on economic conditions, exchange rates, inflation, and yacht type. After five years, depreciation slows, but operational costs increase.

FAQs on Yacht Costs and Ownership

What is the most expensive yacht in the world?

The most expensive yacht in the world is the History Supreme, valued at an astonishing US$4.8 billion. This luxurious vessel was designed by Stuart Hughes and is adorned with over 100,000 kg of gold, platinum, and precious stones, making it not only the priciest but also the most opulent yacht ever created​​.

How much is a Lamborghini yacht?

The Lamborghini yacht, officially known as the Tecnomar for Lamborghini 63, is priced at around US$4 million. This high-performance vessel combines the iconic design and engineering excellence of Lamborghini with cutting-edge maritime technology, making it a standout choice for luxury yacht enthusiasts​​.

How much does it cost to rent a superyacht?

On average, you can expect to pay between $150,000 and $500,000 per week to rent a superyacht. More popular yachts like the luxurious Flying Fox can be rented for a whopping US$4 million per week. For a seamless renting experience, Chartered4 offers a wide range of yacht charter options to fit different preferences and budgets​​.

How often should a yacht be serviced?

A yacht should undergo routine maintenance at least once a year. However, more frequent checks, such as monthly inspections and seasonal servicing, are recommended to ensure optimal performance and safety.

Is yacht insurance mandatory?

While yacht insurance is not legally required, it is highly recommended. Many marinas and yacht clubs also require owners to have insurance to dock their vessels. This insurance typically covers liability for damage to other boats, docks, or marina property.

Can I charter my yacht when not in use?

Yes, many yacht owners choose to charter their yachts when they are not using them. This can help offset the costs of ownership and maintenance. However, it’s essential to ensure that your yacht is adequately insured for charter operations and meets all regulatory requirements.

What is the lifespan of a yacht?

The lifespan of a yacht depends on the quality of construction, maintenance, and usage. With proper care, a well-built yacht can last over 30 years. Regular upgrades and refits can extend the life of the vessel even further.

What does a yacht broker do?

A yacht broker assists clients in buying, selling, and leasing yachts by understanding their needs and preferences, conducting market research, and identifying suitable options. They arrange and attend inspections and sea trials, negotiate prices and terms, and manage all necessary documentation. Yacht brokers also help clients secure financing and insurance, ensuring a smooth transaction process from start to finish.

Choose Luxury Yachts Co. for Your Yacht Transactions

Owning a yacht is a substantial investment, and whether you’re buying or selling, working with an experienced and reputable broker can make a world of difference.

At Luxury Yachts Co., prospective buyers benefit from access to an extensive selection of new and pre-owned yachts, all of which have undergone meticulous inspections and lien searches. Our brokers provide personalized service, helping you find the perfect yacht and guiding you through every step of the purchasing process, including financing options and after-sales support.

Meanwhile, sellers can take advantage of our robust marketing strategies, professional photography and videography services, and extensive industry network to ensure their yachts are sold quickly and at the best possible price.

Trust our team of seasoned brokers, marketing professionals, and support staff to handle all the complexities of buying or selling your yacht, providing you with peace of mind and exceptional service every step of the way.