superyacht refit cost

Yacht Refit Cost

There is a false impression about yachts – that they only require a refit if they are on their last legs and are barely seaworthy. This simply isn’t the case.

If you think in terms of houses, you refit your home from time to time to update how it looks, to reflect both your personal taste and changing trends: to future proof it and ensure it remains fit for purpose.

Now consider when you would usually renovate your house. Normally, the highest expenditure is when you move in, as you want it exactly the way that suits you before settling in. You might spend smaller amounts updating it from time to time, as fashions change, before spending the second highest amount of money when you plan to move out.

Why? Because you realise that, by making it look more up-to-date and attractive to potential buyers, you’ll get better value for it. The cost of any work is justified by the proportionally far larger increase it adds to the value.

Delivering Value

Much the same applies to yachts. A refit by Setag is there to add value. It isn’t the equivalent of fixing a dilapidated house – rather it should be seen as a way to futureproof your yacht and make it reflect your taste, personality and needs.

One of the most common customer situations the yacht business caters for is the returning customer who wants to upgrade their vessel. Our solution at Setag is to offer a larger pre-owned model, without the depreciation and work with the customer to carry out a thorough refit at the fraction of the cost. That way they have all the benefits of a new build – with bespoke interiors created for them as well as up-to-date electronics systems, but delivered at value.

Interior saloon of a Squadron 42 yacht with brown wood and cream upholstery

A Sustainable Transformation

We provide a beautiful level of service, offering luxury to the pre-owned market – ensuring that you are in control of your yacht’s refit at every stage. You get to sit down with one of the best interior designers in the business and work with them to create the yacht that you have always dreamt of, rather than simply making do with the pre-owned boats available, in the state that you find them.

In turn, we can make a very significant impact on the vessel for 10-15% of the boat value . So there’s a good economic answer for having a Setag design & refit, but a full, dedicated refit service simply hasn’t existed until now.

Fairline 58 saloon interior with brown sofa and tired decor

We’re ready to redefine, refit and remaster your yacht, according to your needs. Get in touch today to Realise the Art of the Possible.

Redefined by Setag

Each project is truly bespoke, catering to individual needs. If you are moving into a new house, you naturally want to renovate to put your own stamp on it – to make it feel like your home. So, why would you be happy to live with someone else’s taste when it comes to your yacht?

Yacht Refit

One of the most common questions we are asked by potential clients is what we mean exactly when we talk about offering a refit service for yachts. There is a false impression about yachts that they only require a refit if they are on their last legs and are barely seaworthy. This simply isn’t the case.

With SETAG, you can make a huge difference when you buy something secondhand, maybe a bit tired and then you put all of this beauty in it and you create what effectively is a brand new boat. Completely to your own liking, your own standard...creating the perfect boat for us.

Brilliant concept...new boat look and feel at pre-owned prices - by the industry experts. Recycling at its best!

The great thing is, none of this is off the shelf - I love this boat and now she’s got her frock on...this is the best money I've spent.

If you want to redefine, refit and remaster your boat who better to do it than the people who designed it in the first place? "What a fantastic idea!"

We cannot recommend the SETAG team highly enough. If you love your current boat, then for a fraction of the cost to change it, have it SETAG’d. The SY branding certainly helped us obtain a premium price. We got what we paid for her in 2017 plus what we spent with you!

I have worked with Chris for over 30 years and I’m pleased to see him develop his own brand - along with likeminded people with industry-leading expertise. The future is bright for Setag Yachts and pre-owned yacht owners, who can now refurbish their vessels to today’s - or even tomorrow's standards.

That has been one of the key selling points for us – having that personalised service and having a boat that is unique to us – is standout in its own right. We are pretty blown away…very very pleased. I think it’s fabulous…it has transformed the boat.

The perfect way to open up a new market: the "true reflection of luxury". Setag gets it: simplicity and personalisation are key – with the depth of knowledge to deliver.

Setag are probably the only company who can carry out all the tasks as a ‘one stop shop’. Other yards were reluctant to price work and needed to subcontract many tasks meaning higher costs and longer lead times. If you are in any doubt speak to Chris and his team, they know boats like no one else.

We have been waiting for this quality of service: a comprehensive, professional refit that we can rely on – because of the pedigree of its staff, with over 200 years' experience in our market.

You have put Princess magic into our beloved Broom.

Never have I come across a more able collection of professionals in this market. We have complete trust in Setag, since its team has been in the business for as long as we can remember. We're very excited to welcome this specialist refit company into our portfolio.

Testimonials

Don't just take our word for it...

Navigating Refit Costs: Budgeting and Maximizing Value

The world of boating is a realm where elegance meets adventure, and where luxury knows no bounds. Owning a boat is an unparalleled experience, offering you the freedom to explore the open waters in style. However, just as with any vessel, there comes a time when it requires a bit of rejuvenation, a refresh to keep it at its prime, and that’s when refit costs become a crucial consideration. This is where refits enter the scene, breathing new life into your gem.

Yet, one question often looms large: How do you manage the costs of a refit while maximizing its value? Let’s embark on this journey of exploration, where we’ll chart a course through the waters of budgeting and value optimization in refits.

The Essence of a Boat Refit

Before we delve into the intricacies of budgeting and maximizing value, let’s first understand what a refit entails. A boat refit is more than a makeover; it’s a comprehensive process aimed at enhancing your vessel’s performance, aesthetics, and functionality. It can involve a range of upgrades, from mechanical and technical improvements to interior and exterior renovations. The ultimate goal? To ensure your boat remains a beacon of opulence and comfort.

Budgeting for Your Boat Refit

As you explore the exhilarating world of boat refits, one of the critical factors to consider is budgeting. A well-thought-out budget not only ensures that your vessel receives the necessary upgrades but also maximizes the value of your investment. Before you embark on the assessment and planning stage, let’s explore some essential considerations to help you chart a financially sound course for your upcoming boat refit.

Assessment and Planning: The journey begins with a comprehensive assessment of your vessel’s condition and a clear plan for the refit. This stage is pivotal for setting a realistic budget. Engage with a knowledgeable refit specialist who can thoroughly evaluate your boat’s needs and provide a detailed scope of work.
Prioritization: Not all upgrades are created equal. Prioritize essential upgrades that address safety, compliance, and critical system improvements. These should take precedence in your budget. Then, allocate funds for aesthetic enhancements and non-essential features.
Transparent Cost Estimates: Obtain transparent cost estimates from reputable refit yards and contractors. A detailed breakdown of costs ensures you understand where your money is going and helps prevent surprises during the process.
Contingency Fund: Unforeseen issues can arise during a refit. Allocate a contingency fund, typically around 10-20% of the total budget, to account for unexpected expenses.
Professional Guidance: Seek advice from experienced refit professionals who can guide you in making informed decisions about where to invest and where to economize. Their expertise can be invaluable in ensuring you get the most value from your budget.

Maximizing Value in Your Refit

Your boat is more than just a vessel; it’s an investment. To ensure you get the most out of your refit, consider these strategies:

Quality Over Quantity: Opt for high-quality materials and workmanship, even if it means scaling back on the number of upgrades. Quality will always surpass quantity when it comes to enhancing your boat’s value.
Future-Proofing: Consider how your choices today will impact your boat’s value and performance in the future. Upgrading to more energy-efficient systems or incorporating timeless design elements can pay dividends down the line.
Professional Partnerships: Collaborate with reputable refit yards and specialists who have a track record of delivering exceptional results. Their craftsmanship can significantly contribute to your boat’s value.
Safety and Compliance: Ensure that all safety and regulatory standards are met or exceeded during the refit. A safe and compliant boat maintains its value and protects your investment.
Personalization: While maintaining a boat’s intrinsic value is essential, don’t overlook personalization. Tailoring the refit to your preferences can enhance your enjoyment and satisfaction, which is ultimately invaluable.

The Voyage Ahead

Navigating the costs of a refit while maximizing its value is a journey that demands careful planning, expert guidance, and a commitment to excellence. By budgeting wisely and making strategic choices, you can ensure your boat not only maintains its value but also continues to be a source of pride and pleasure. So, chart your path and let your boating dreams thrive!

Discover Your Boating Odyssey Today!

Embarking on a boat refit is more than an investment. Now that you’ve navigated the intricacies of budgeting and value maximization, it’s time plan your refit. At Starboard Yacht Group , we’re your seasoned refit specialists, ready to transform your boat into a masterpiece.

Take the first step toward elevating your boating experience.

Embark on the exciting adventure of transforming your boat with us. your dream vessel is ready, and we possess the expertise to bring it to life., contact starboard yacht group today.

For any upgrades or refits, please reach out to us at Starboard Yacht Group.

We offer many different services designed to keep your vessel in pristine condition.

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Vessel ltinerary
Administration
Dockage & Fuel
Maintenance
Capital Repairs & Reserves
Total Expenses =
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# Total Expenses Date Saved

Advanced functionality coming soon.

Us flagged vessel, health insurance costs per crew, uniform cost per crew, training cost per crew, food cost per crew, crew turnover, hires using a professional crew agency.

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Costs of food provisions will vary dependent upon how eloborate food Preferenaces are

Location will play huge factor in food provisons and thing may have to be folws into remorte locations.

Crew is one of the largest expenses on a superyacht and critical to the owner’s enjoyment of their vessel. As the largest crew agency in the world, we know crew. Our cost calculator contains customized crew lists for yachts ranging from 80ft to 600ft with salary information based on our reference verified salary data.

Our users also have the ability to completely tailor the crew list to the specific needs, schedule and requirements of their vessel. Each yacht is unique and may have specific owner requests in addition to the yacht’s safe manning requirements.

Management of the supplemental crew costs and strategic budgeting can help avoid significant overspend on categories such as food and uniform. This tool contains default values based on our industry expertise and recommended budget for an efficiently and safely run superyacht.

To learn more about each crew position in detail, including salary ranges, please visit our yacht department directory .

Drag the sliders to modify your results. These are not linear scales and we expect most yachts to operate within the 20-80% window. Above 80% and below 20% costs increase or decrease at exaggerated levels and we only see numbers in these levels in very rare circumstances.

This sunburst diagram is interactive. You can click into each block to see the expense break down and mouse over each block for more details.

Our chart of accounts displays seven major categories, 20 sub-categories plus a further 80 detail categories for a total of 107.

Our yacht operating cost calculator is now on it’s third major revision. We start with actual yacht expense data from our yacht management accountants and then generate formulas to extrapolate out the budget for a wide range of yachts. We have been providing accounting services to large yachts for the past 18 years.

Our operating cost calculator is tuned for yachts from 80 to 600 feet. We find operating variables create the largest variances for yachts smaller than 100 feet and larger than 250 feet. We have tested the numbers the most in the range from 100 to 250 feet.

Our budget calculator factors in the fuel burn for a range of engine sizes typically seen installed on yachts by length. By dragging the green “fuel dockage” slider to the right you will increase the projected fuel burn rate and therefore the budget cost for fuel. Our default position would be for a typical displacement fuel burn. Position the slider in the 60-80% range for fuel projections for planning hulls.

Our default values produce a budget number that we believe is generous to run a yacht to a high standard. Perfect is a very expensive word to use in the yachting industry where standards are already high. Moving the crew and maintenance sliders to 80% will provide an “industry best” quality of crew and give them the maintenance budget to operate to a very high standard. If you need to go over the 80% area then you may have unusually labor intensive equipment on the yacht.

Yes, our yacht operating cost calculator can output a budget suitable for this situation. Adjust the owner use to 2 (minimum value), owner slider to 0, crew slider to 10%, Administration to 10%, Fuel and Dockage to 0, Maintenance to 10% and then Capital Repairs to 0. This will remove all of the large charges associated with owner use and vessel movement but leave the essential base maintenance and insurance in place.

Lift on and float in yacht transport is a popular way to transport yachts across large ocean passage. The yachts that this service certainly applies to are ones that may not have the motoring range or structural integrity for blue ocean cruising. The cost of transporting a yacht twice per year is put into our budget once the “Fuel Dockage” slider hits 75%. If your yacht has the range we recommend self-sufficient ocean passages whenever possible. Whilst the transport companies sell their services based upon reportedly well oiled operated schedules the reality is that your yacht may stay waiting for pickup for a week or more with no compensation due. When factoring in all secondary factors of self-sufficient passages (increased fuel, maintenance, potential storm damage, crew time off, extra delivery crew) compared with transporting your yacht (insurance, potential loading / unloading damage, loss of schedule control, no work whilst underway, crew flights, crew accommodation) we believe that there is a 100% premium associated with float in transport and a 75% premium with lift on transport compared with self-powered.

Abandoned yachts crash in value. We recommend that even if you are trying to sell your yacht that you use the yacht for a minimum of two weeks per year so that systems are tested and working every six months. There is nothing worse for a yacht than not being used. If you truly are not going to use the yacht then you should sell it immediately for the first genuine offer as every dollar you put into maintenance will not be recovered at the time of the sale.

We did not build this version with sailing yachts in mind. Early in our development of this version we decided to exclude sailing yachts as a few of the major cost drivers scale very differently for sailing yachts compared with motor yachts. For example: To calculate paint costs we reviewed the surface area of over 100 large yachts and created a formula for painted surface area to length. Sailing yachts just don’t scale in a consistent way. Similarly crew numbers don’t scale in the same manner that they do for motor yachts. If there is sufficient demand we may build a sailing selector switch into a future version of this tool.

We hate to hear when yacht owners were told by their broker to factor in 10% of the purchase price to operate the yacht. This over used saying is sadly right occasionally (particularly for newer yachts in the $20-30M range)… but just because a broken watch tells the right time twice a day you shouldn’t rely upon it to tell the time. As yachts get older their capital value decreases but their maintenance costs increase. There is no way that a fixed 10% of purchase cost rule can be true… if your broker told you this rule then you need a new yacht broker… we know some good ones. 😊

Advanced functionality coming soon…

We are building advanced tools to allow you even greater control over our operating cost calculator. Please enter your email address below to be advised when it is available.