The Real Cost of Owning a Boat

By Bloomberg Rankings - 2012-05-15T21:05:49Z

Photograph by Colin Anderson/Getty Images

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The Fantasy

While 36 percent of the world's ultra-high-net-worth individuals live in the U.S., only 5 percent of them own a yacht. Among them: David Geffen, who paid $200 million for his 453-footer, which has a basketball court. Kitty McGowan of the U.S. Superyacht Association says a 180-foot yacht costs $4.75 million annually to maintain and run. Among the costs: $400,000 for fuel, $350,000 for dockage, $240,000 for vessel insurance, $1 million for maintenance and repairs, and $1.4 million for crew salaries.