Owning a sailboat is considered a luxury that many of us aren’t fortunate to have. They are expensive whether it is new or used. Maintaining a sailboat can be costly too depending on the size of the boat. So what makes a sailboat so expensive?
Why are sailboats expensive?
This is because of a range of factors starting from the size, condition, brand, engine, and fittings. The bigger the size of the boat, the more expensive it is. Used sailboats can be cheaper than new ones. The material of the boat also plays a role. Sailboats made out of wood tend to cost more.
Reasons why sailboats are expensive:
Traditional sailboats are made out of wood. They will cost more than other material types because wooden sailboats are harder to maintain and build when compared to many other materials.
Modern sailboats are made out of fiberglass. To save money, you can opt for fiberglass instead. It is cheap and durable.
Supply and Demand:
Many items such as cars are sold at affordable prices due to their high demand. As sailboats are not a necessity, the demand for them is still low compared to cars.
Therefore, manufacturers cannot sell a large number of boats as car manufacturers in order to make the business feasible.
Because of the high price, most people rent boats instead of purchasing them. They either rent during holidays or weekends. This reduces the need to build and sell new boats which ultimately reduces the supply and demand.
Due to this, sailboat manufacturers cannot take advantage of high-volume efficiency. As a result, it increases the price of every boat.
Most people go for longer sailboats because smaller ones have less space than powerboats. And larger sailboats are more expensive than smaller ones.
It is especially expensive when it is more than 30 feet. Larger boats tend to have more equipment and finishing which makes them luxurious.
As technology advances, sailboats are upgraded with newer technology. This can be expensive because it enhances the quality of sailing greatly.
How much does a good sailboat cost?
The price of a good sailboat can vary due to several reasons.
The price of sailboats increases when they are large. The larger the size, the more it will cost. This is because larger boats are more fit for the seas and can hold more people and load.
They have a high manufacturing cost as well because they are tougher to build and store. The length will increase the cost of insurance, paint, and mooring.
Whether your sailboat is made out of fiberglass or wood matters. If you purchase a wooden sailboat that is in good condition, it will cost you more than a fiberglass one.
But times are changing and now modern sailboats are made out of fiberglass which makes them light and cheap.
Second-hand sailboats can be costly as well if it is in a good condition. This is because many boat owners update and customize their boats to make them fit for resale.
However, newer ones will always be more expensive. A new sailboat will definitely cost 3-4 times more than a sailboat manufactured in the 1990s.
Expensive technology and fittings:
Updated sailboats with modern technology and fittings will have a higher price. These can be customized sun shields, navigation systems, sail bags, and even a speaker system.
The cleats, wenches, and sales will already be positioned in the appropriate place. Some also come with extra solar panels and fridges.
It might seem unnecessary but it might save you the cost and time of buying those separately. This will lead you to better sailing trips. Many boats of the same size can cost different.
The reason for this is because there are limited editions that have costly finishes and customized interiors.
The number of hulls:
If your sailboat comes with more than one hull, it is likely to cost more. Constructing and attaching more than one hull is harder and expensive.
This is because the attachment between the hulls should be flexible and sturdy at the same time. The exterior of multihulls is complex.
The engine makes up a large portion of the manufacturing cost. Its horsepower impacts the overall price of the boat. The newest modern engines are expensive because they save more fuel, have lower emissions, and make less noise.
They are small in size too. Modern sailboats have these engines which makes them so costly. They usually last for about 20 years.
Here is a chart with the average price of sailboats according to their size:
|Length of a new sailboat||Average price||Average price per foot|
|15 to 20 ft||$27,000||$1,500 per ft|
|20 to 25 ft||$60,000||$2,500 per ft|
|25 to 30 ft||$90,000||$3,200 per ft|
|30 to 35 ft||$178,000||$5,400 per ft|
|35 to 40 ft||$260,000||$6,400 per ft|
|40 to 45 ft||$320,000||$6,600 per ft|
|45 to 50 ft||$385,000||$6,800 per ft|
|50 to 60 ft||$620,000||$11,000 per ft|
|80 to 100 ft||$5,000000||$50,000 per ft|
Many people buy second-hand sailboats so that they don’t have to bear this large cost. Here is a chart with the average price per foot of used sailboats.
|Length of a used sailboat||Average price per foot|
|Below 30 ft||$200 per ft|
|Around 30 to 50 ft||$700 per ft|
|More than 50 ft||$2,500 per ft|
This is just an estimate. The price can vary depending on the brand.
Are sailboats expensive to maintain?
Maintenance costs will depend on the size of your boat and how often you will use them. You can expect to spend around $2000 per year on maintenance for small to mid-sized boats. Smaller boats require less maintenance.
They can be easily stored in trailers and backyards. Large sailboats might have halyard costs. Other than the bottom paint and batteries, the rest of the things will not need to be replaced before at least 5 years.
However, there are hidden costs that most manufacturers don’t tell you. Overall, you can expect to pay around 10% of the total boat value in maintenance.
There are insurance expenses too. There are plenty of ways to reduce costs. You can get gas for your sailboat from a gas station instead of the marina. This will save you a lot of fuel money. Regular use also delays things from malfunctioning.
Maintenance stores can charge you more than required. You can do your own maintenance and upgrades to save those costs.
Is a sailboat a good investment?
That is up to you. What are you hoping to get out of the investment? Before setting your mind on buying a sailboat, ask yourself a few questions.
How much will you use the sailboat
A sailboat is not a good investment if you’re only planning on using it during vacations. But it will be worth your money if you go on regular weekend trips.
Owning it might not be necessary as you can rent it and save a lot of money. Purchasing a sailboat will help you in the long term if you are a frequent user.
Are you planning on reselling it in the coming years
If you are planning on selling your sailboat, you will have to maintain it properly. Sailboats have high maintenance costs so make your decision wisely. If you improve your sailboat with newer technology then it will have a higher resale value.
Are you good at sailing
Surprising but your sailing experience will affect your sailboat. If you’re new to sailing, it’s better not to invest in an expensive sailboat and learn to sail properly first. It is not safe either. Before moving on to a large boat, take some sailing lessons.
Is owning a sailboat worth it?
It is worth it if you don’t go over the budget. If you sail regularly then owning a sailboat can reduce the overall cost of rent in the long term. For cruising, it is a great way to meet people, explore the world, and take some time off from your everyday routine.
For recreational sailing, renting out a small sailboat should be enough. For weekend and occasional sailing, you can just charter a boat.
You can also resell your sailboat at a good price if you maintain it well.
Is sailing an expensive hobby?
There are plenty of costs associated with sailing starting with the cost of buying a boat, sailing equipment and gear, taking sailing lessons, and maintenance. But sailing doesn’t have to be an expensive hobby.
There are many sailing lessons available that will cost you under $500. These lessons are important before you start sailing on your own.
You can minimize costs by renting a sailboat instead of buying one. If you want to own a boat, you can start with a small one before going for a large one to practice sailing.
What is the most expensive boat in the world?
Luxurious boats are often used as a status symbol to showcase wealth. These can only be bought by the richest in the world. They are not only used for transport but also include theatres, saunas, concert halls, etc.
As of now, the ‘History Supreme’ is the most expensive boat in the world which costs $4.8 billion!
This boat belongs to the richest man in Malaysia, Robert Knok. It is the most expensive and largest yacht in the whole world. It is 100 feet in length and made with gold and platinum.
It was designed by a famous luxury designer from the UK named Stuart Hughes.
Purchasing and maintaining a sailboat is expensive but you can reduce the costs. Instead of buying superyachts, you can buy decent used sailboats which are as cheap as $2000. To get to offshore anchorage, you can buy a cheap small kayak.