£1 Million Princess 60 - How much does it cost to buy and run this boat per year?
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- Опубликовано: 21 июл 2024
- As well as doing a Princess 60 full boat tour, James explains the cost of buying and running this £1,150,000 2016 Princess 60
See full details of the Princess 60 here:
www.boats.co.uk/boats-for-sal...
Every cost is broken down.
Princess 60 cost of ownership
Insurance
Fuel
Maintenance.
Have you ever wondered how much a 60 foot boat really costs to run? Well now you can find out!
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0:00 - Intro
0:21 - Transom
1:15 - Cockpit
2:17 - Saloon
3:54 - Galley
5:01 - Lower helm
7:15 - Master cabin
9:38 - VIP cabin
10:22 - Starboard cabin
11:05 - Flybridge
13:23 - Engine room
14:40 - Crew cabin
15:37 - Summary & costs 
Авто/Мото
These vids are absolutely great. Especially considering it's an opinion from a boat marketing industry professional. Anyone in the market for motor yachts will Love it! Thanks!
Ah thanks Chris 👍🏻
If this boat was initially sold back in 2016, does it mean EU VAT has been paid? If not, what would be the price of the boat ex VAT?
@@buoyohbuoy790 it is uk vat paid and can goto the eu with a uk for 18 month stints 😎
You showed the crew cabin - would someone really have crew in a boat of this size? Didn’t mention in costs..? Would surely be better use as garage for toys in my opinion
Of all the people who review boats online, you are by far the most honest and critical. Helps that you're hilarious as well. Keep it up.
Totally agree :)
Ah thank you 🙏
It was refreshing, even if I like many of the other walkthougher's. The crew space part in this video for example, I can see what he means.
@Fred Basset Thank you. I know the Nordhavn specialist, very informative vids, but just so little content. Who is that technician you mentioned, if you don't mind sharing..
Unfortunately in the real world the depreciation is far greater than that, I was the skipper of a brand new Princess 65 flybridge yacht which cost us £1.1m and it arrived from the factory with 168 faults which took princess 3 years to put right. At the end of 3 years the boat was perfect and we sold her for £550,000. The owner had about 60 nights on board in all that time.
They really are a huge hole in the water to throw your money into, but fabulous fun.
Wow, that was a lot to loose in 3 years. Just in depreciation that works out to 9,166 pound per night. Then you put your wage in, fuel, insurance etc that works out to a lot of money for one night. Spending all that money, it must have been an amazing amount of fun each night? You are right though, they are a huge hole in the water to throw your money into.
@@spacewalktraveller1 yes it does not make any sense to buy a new yacht, my advice would be to buy them at 5 years old when everything has been done to them all faults ironed out and lots of servicing has been done, they should still look new but for a third of the new price.
@@captaindave47 Thanks for the reply. I was surprised when you said the boat had 168 fault, I though Princess was a top notch boat builder and they took 3 years to fix the problems. I'll take your advise and get a second hand boat, otherwise you are throwing a lot of money away.
>>At the end of 3 years the boat was perfect and we sold her for £550,000
Was this during the 2008 financial crash or something? Was this part of a deal that might be partly money laundering? Similar models that are over 10 years old are currently going for a few hundred thousand more than that.
@@spacewalktraveller1 no it was before the financial crisis of 2008. We had it on the market for quite a while before accepting that offer, we were planning on buying a new 25 meter yacht but the owner for cancer and the family decided to get out of boating until they knew the outcome.
I think that's why they took the low offer. It's always a buyer's market when it comes to boats.
Love all the information, presented in a very likeable manner! For a man who lives the furthest from the water in Northants I love to see all of your content, keep up the great work 👍🏼👏🏼👏🏼👏🏼
Thanks Rory 😜
You haven't changed much since school "See my socks" lol.... Great work. That screen reminded me of one of those invisibility screens people have been making.
@@izzzzzz6 hiya - which school ? Widford or plume ? 🤓
Really interesting, very well presented and easy to understand. Thank you James!
Excellent video. Covers everything, from a tour of the boat, to the specs, and love the summary of costs at the end. Thank you! Hello from Canada!
Hi Joseph - thank you for watching 😎
Lovely boat James. The tour was as indepth as always. The salon is very spacious but the flybridge is awesome. The highlight of the tour was the breakdown of costing. Very seldom talked about, (almost never). Appreciate the info and tour, Thanks.
Cheers
Thanks JH. More costings to come- seems popular !
Just stumbled across this channel/video. Never seen a walk-though of a boat where a "floss-test" is done. I'm sold. Subbed. Also you are very funny and enjoyable to watch and listen too. Keep it up. :)
Ah thanks Dl.
Love all your videos. No BS and straight to the point. Thank you.
Thanks - keeps it simple
Another informative tour James as always, it was both humorous and serious floss test and "shout" Windows included! It was nice of you to include the full cost of running a boat, not often seen by other yacht brokers James, must be a "first!"
Yes most brokers not keen to explain cost of the fun 😂
Love the content! Keep it up, please could you do some more videos of taking different boats out on the water for a spin, I remember a few months back you took one up the river for a spin that was great! Thanks
Yes I will - but we have to clear the river of other users first 😂
Thank you so much, really good video and answered a lot of questions for me personally.
Like a lot of posters here are saying “if I had the money, I would buy a boat from you” you are searing honest 😀
Ah thank you
This 60 and the 56 are by a absolute country mile the best value on the market for a family owner run boat! When you look at today's new boat prices this 60 and 56 are an absolute bargain! Both have kitchen and separate dianette plus a large saloon without it used as dinning like newer models that don't have a separate dianette seating! 3 great sized cabins beautifully crafted fast top speed if needed and fantastic outdoor space for summer! You can get into almost every marina! A lot of people don't realize A lot of marinas won't accept any boat over 60 feet! Princess boats don't age in the looks they are modern and elegant and timeless! Great video happy sailing all!! 🛥⚓and God bless all 🙏❤
Thank for sharing James. Cost information was helpful and tour was fantastic loved the little bed roll in the master
😂
Again a demonstration that honesty is the best policy.
This exercise shows your integrity.
Thank you.
🙏🙏
Lovely tour, James. Thank you.
Brilliant James.... so informative... 2nd viewing.... watched the first view whilst travelling home from work in a taxi LOL.... Thanks for taking the time to make these really great Vlogs.... what can I say :) As everyone, looking forward to the next Vid !! (know how much time and effort is put into making these vlogs) best regards to you and the family. Have to agree with a vlog below... you are so honest and yet critical in an amazing acceptable professional way..... :)
😂 thanks PB - love the taxi story - lots more to come - glad you enjoy 😊
Probably one of the most entertaining and yacht broker videos I’ve seen. Good job
Thank you
Great explination and socks James, i cant wait to get back out onto the water this summer.
Nor can I 😍
Another top video James! I have to admit I’ve become addicted to your videos! Superb socks this time! I don’t think this would fit in Tollesbury Marina. All I need is a Riva Aquarama. That’ll do me!
Ah thanks Steve. We should get you down to do the drums and music on one of the videos on the flybridge 😜 hope you are keeping well 👌
"This is a straight line curve" ..... Priceless - keep the vids coming
😂
Just like the horizon.
You are a funny man, in the best sense. Great information. Please keep the roll across the bed in each video... very James Bond!! From a glum overcast Sydney.
Love Australia 🇦🇺!
I love the lighthearted fun way you do your vids, look forward to your next one, and watch your toes....
😊👍🏻😜
Can’t believe I’ve only just found this channel…. So glad I did! Been looking for a comprehensive view on costs of one of these boats for ages! So the 8-10% of boat value, which a lot of people mention seems true in this case. Here’s a question, which boats generally have the lowest % (of total value) running cost
Ah thank you. Lowest running cost would be displacement hull, shaft drive, single diesel motorcruiser or any sail boat.
A rubber dinghy
Great Video and Great job explaining some of the costs, which I should point out are subjective. Obviously the fuel costs you mentioned would vary depending on how much cruising one does in a year. If you pay cash which I'm sure some people can do, then the financing and interest normally attached to it would be void. In North America as I am then berthing could be cheaper depending on the location and the Marina. Again some people might be berthing their yacht at their home which is located on the water front. Insurance I assume would also depend on whether you are a seasoned boater or new to the market. Having said all that I did like the fact that you gave your best attempt to make people more aware what the costs of ownership really are.
Some things which I always look for which I think you didn't mention is; What is the beam length? What size is the black water and fresh water tanks. What is the cost of pumping out the black water tank? Thanks
very good detail and funny too. keep it up.
Thanks for all the finance details!
Note to Princess: Rounded Corners on the Fridge hahah
ROFLOL. The "Floss" test. Loved the demonstration. I'll have to remember that, if I ever get opportunity to purchase.
Really grateful for showing us running costs, definitely rules me out of “ever” owning a boat of this stature, unless I win the lottery.
Never say never
Love your out takes at the end James 😂
You only told me what I already know: I will never be able to own a yacht. Yet I thank you for this video :)
Subscribed as you asked so nicely 😀 I came here after watching one of Nick’s videos
Thank you 🙏
Brilliant vid as usual and the costs made me laugh in disbelief but also in admiration for those that can own this 👏👏👍❤️🇬🇧
you’re underrated. I love your videos, sometimes funny 😆.
Thank you 🙏
James thank you for being so transparent very interesting video's.
It’s all I know 🙏
We still have a Princess 420 (several refurbs and tech updates in) and it's a great boat.
Excellent video. Adding the informative stuff to the tours is really helpful. With a boat of that size in the south of the uk, how easy is it to travel around and find available visitor moorings in marinas at fairly short notice in the summer months (April to Sep)? Eg when deciding on a whim to have a few nights away. Cheers
Ummm - not very easy at the moment but you can anchor anywhere 🤩
We watch cus it's bloody interesting 😂😂😂.. great tour and a lovely boat .. 😁👍🏴
Love the videos! Can you do one of these videos factoring in charter income please?
Yes will add that to next one
This is a great cost break down, helps give an idea.
It takes a bit of working out 🏋️♀️
Just subscribed because I'm considering buying a boat.
You've shocked me with the annual running costs.
I'm going to need to halve everything to afford to get on the water.
Smaller boat & no finance for starters.
I have another video coming up on a smaller boat this Thursday . Costs much much less 😎
beautiful! great to see the actual costs. thanks for that
👌👌
Very useful info. The correct calculation of the cost is £146,000 per annum.
Love of mad socks, yachts, and mysterious shrinking jeans... kindered spirit there.
Great video Thanks
this is so good and we all need to know the cost its not boring your the best
Ah thank you
This was amazing an you was very funny. Have a new subscriber
Love it. Love your presentation style. The different air conditioning / heating controls were confusing the hell out of me. How would you know which one to use. Would one system supersede the others or are they used in tandem?
We include a 1 day handover 😊
Great vid!
🙏
good video....funny man...keep up the good work👍👍👍👍👍
Absolutely great explanations.
Thank you for the video. Subscribed thanks to the costs you worked out.
Thanks Mark
excellent! So a $3M boat with a crew of 3... probably around 10%, 350-400k/yr... depending on how many engine hours and mooring costs, full time or part time crew...
VERY helpful video; thanks!
The boatyards I work in, (or river) most just get red diesel delivered which costs between £0.90p to £1.25 a litter depending on how much you buy etc, But with the reforms now on when you get it delivered or from a fuel barge etc, you will need to get a duty rebate of 46.81PPL making diesel around £1.20LT.
Good price - more expensive in Essex at mo
Great video, I especially appreciate the cost calcs, although I think you left some major items out, such as the cost of supplies and food, crew costs if any, etc. Could you add them here or edit the video and add them in it? PS I was a professor of Naval Arch for 38 years (now an Emeritus prof) and taught these cost calcs all the time.
Thanks Prof. no crew on this in Uk - thanks for your nice comments 🙏
Cool video, cool boat.
I would not be able to live with a
microwave down below like that though.
4:29
lol, luckily this will never be an issue for me.
19k subs. Wtf? You are great. Good job! Keep it up. Love the videos from BC Canada!!
Love the finance info. Even though I'm Canadian and we use CAD....😏
Gives me an idea how much I have to put down when my crypto goes through the roooooooof. Dreams. Gotta have them. I'll be happy with a smaller boat that a few friends can stay overnight in as long as the ladies have a good head. 😆
Ah thanks Brent 😎😎
Excellent, most informed and concise. Am a bit worried as to where to obtain one of those "straight line curve" however. Lol😁👍
😂😂
Great video. Ive never seen a video talking about the costs in such detail. We all hear the silly figures of superyachts, so to see figures for 60ft boats is realistic. Out of interest, what is the ratio of your customers who buy in cash vs finance to purchase a typical 60ft Princess?
A pleasure, I would say at the moment 50/50 but it changes monthly for lots of reasons 🤩
Well at that level it may be cheaper to buy on finance thereby maintaining your lump sum for investment at a higher rate of return rather than a boat of depreciating value.
@@gulag8735 Your higher rate of return is not guaranteed, your interest payments are
@@anyexpat true that
thanks for the vids. any idea about how much to ship a 60 foot princess to ft. lauderdale? is the air conditioning suitable for tropical climates such as bahamas? thanks so much!
Very fair explanation and well explained but maintenance would be more like 20-30 not 10 , really enjoyed this video
Great video love looking round these boats, never be able to afford one this luxurious, so nice just seeing them from the videos you produce. What are the best finance companies to use and do they always ask for 30% even on a boat that cost around £50k. If you can let me know much appreciated
Hi Louis - 30% is quite normal so do please expect that. All the UK finance companies we use are listed on our website with our comments on them. Search boats.co.uk - click info the click finance 😎
Good Video. Slightly alarmed when I saw the socks but other than that, great video as always
Nice one James. I've yet to see a crew quarters I'd happily use. Are there any nice ones? Also are they an option could the space be used for anything else, interesting, other than fenders and ropes
Yes good for alcohol store 😂
Excellent video. Subscribed 👍
Thanks Arthur 🥳
Appreciate the breakdown. I assume going slower (displacement speed) would be less savage on fuel but in the big picture wouldn’t make much difference. Cheers
Yes that’s right
What a great video. Subscribed.
Thanks AW
Wonderful video! Would you happen to have fuel mileage if most of the traveling was done at displacement speeds? I'm guessing 8-12 knots for a boat like that, correct? I know that this type of boat is designed to cruise on plane, but for coastal cruising such as on the east coast of the US, many times it's more about the journey than the destination, so speed isn't really a factor except in cases of emergency or outrunning a storm. Thank you!
Yes it should use less than half that 😎
If that's your plan you're much better off getting a semi-displacement hull. You'll still be able to out-gun a storm but your displacement mileage will be a lot better.
Love the video as great insight in to my lottery win purchases when it happens, you scared me at costs though 😂
Hi James, great video and fantastic boat. Need to win the lotto first then I'll be down lol 😆. I know you do the sale's of boat, would like to ask on the RYA training for a boat that size? Look around and I found different information on Internet, a bit confusing. Hope you help. Thanks
In the uk no training needed but I always advise RYA ICC level which you can use abroad too for boats upto 24m 😝
Great job and thank you so much
I was looking to upgrade my yacht but now I think I should just sell it and be done with yachting. I know my costs are high but never did the math.
BTW the costing and comedy outtake were brilliantly simple 🎖🥇🎖
Ah thank you 😊
That's a great video
Would you be able to do something similar on a entry level used boat.
From about 40k?
Yes of course
Thanks, great video. A couple of questions for anyone who knows: Would the generator fuel cost just be part of the general fuel cost? (I guess compared with the main engines, the generator fuel cost is just 'noise'). Do the berthing costs include electricity supplied from the marina?
The generator fuel costs would be minimal compared to the engines so are approximately included in my costs. Most marinas meter your electricity in the uk as an extra and need to be added to my costs 😊
Great rundown of costs, great video as always….one question, do you get a lot of lottery winners buying boats/yachts outright? Or does everyone who buys a boat/yacht use finance?
A fee lottery winners but mainly customers buy with their own money and some use finance
Could you please include the cost of a captain next time . Thanks very informative
Hi! Iam super interessted in a testdrive-video of the new beneteau grand trawler 62. are planning to do a testdrive-video? cheers
If one comes up - I will
Hope you haven't hurt yourself too badly. I did laugh though, just as funny as the engine room ladder. Thank you for an interesting video.
👍🏻👍🏻
What is the Draft ? Could you do the great loop ?
Nice channel, like it
Thanks for the video it was interesting. Just one question. Why did you sit on the kitchen bench and read out how much it cost to run a boat? A kitchen bench is a place where you prepare food, not sit. Directly behind you was a very comfortable couch to sit on. Do you prepare your food on the couch at home?
I do sometimes sit on the galley top at home too 😜Apologies for my manners - i blame my parents !
@@Boatscouk Thanks for the reply. Don't blame your parents. You are responsible for your thoughts, feeling, emotions and your actions. You have no control over what other people do or say but you have full control over what you do or say. I wish you all the very best with your channel.
Thank you for such a detailed video, most guys miss the financial part😂
We always tell you about the money 💰
So it's about 10% Runnings of boat price. As for £60k capital usually is a lowercapital repayment in years 1 to 4 and higher interest, but depending on the rate you should be able to work the sweet spot which gives you the optimum time upgrade. It would be good to work with customers to find the right time. Also helps you market products to maximise your and your customers best options.
Yes but be careful as it can vary a lot from boat to boat
Yes, just been looking through your stock. 50hrs looks a little on the low side when looking at age. Perhaps 70 to 80 hours might be more appropriate for a larger 60ft boat
@@vcghana yes upto 70 is common
get diff 22 soar éktrç 100p mile rage tejsa 116.jie rabge
Do you ever come across any American boats for sale that are wired for 110v? Have you ever converted a boat from 220v to 110v, say if an American wanted to buy a boat in the UK that's only manufactured in the UK? Seems as there are more channels in the UK focused on boating than there are in the US. I have fallen in love with many of the boats shown however, they are not available, in the US. It's such a shame. So I'm curious if anyone has ever made the switch from a UK powered boat to one that will operate in the US. Thank you for the videos, I do really enjoy them. The socks are a nice touch :)
Yes we have converted uk to USA power and the reverse. It’s quite a bit of work but not impossible - allow 5 % of boats value as approx cost.
the out take was priceless spat my wine out pmsl
Wine already 😆
Hi James - what would the costs be if it was bought new - would the costs be lower ? Do manufacturers include service plans etc ?
Some banks prefer new boats (and certain brands) so they may offer a lower APR and bigger balloon but it is all kept under radar. 😊
😂😂😂 I’ve always wanted a boat /yacht, now I know why you have making comments respectful !
There has to be an easier way to destroy money like maybe have a BBQ with it lol , now I know why boats are called holes in water 😂😂😂
Great content and it’s been a real eye opener and truly shocked at the cost .
It’s good to see your in Essex I’m from Basildon and live in florida where boat ownership is so much cheaper .
And Florida is beautiful too ! Thanks Lee 🥳
Great video - very informative. Thanks for inviting questions - I am assuming this price includes VAT, since it's second hand. Would I need to pay VAT again in the EU (I'm from Malta), if I were to buy this boat (or any other secondhand boat registered in the UK? Also, what about for a new boat (made in the UK e.g. Princess, Fairline, etc. , would I just pay VAT in the EU and not the UK? Thanks - keep up the great videos.
Thanks Robert. As a Maltese resident you would need to pay EU vat on import. If you are uk citizen then you are allowed to use in 18 months stints tax free so long as the boat exits to a uk territory every 18 months .
Yes and for new boats - you buy ex tax from uk and then pay local taxes on arrival 😊
Thanks for your prompt replies - much appreciated.
Beautiful boat,love that extra storage instead of the useless sofa. Great tour, 8.5 for the roll in the master-execution was perfect but the finish was awful!
I need to lose 5 stone 😆
Love the socks😂😂😂
Suppose you had the money to spend, could you turn the crew cabin into another fuel tank to extend range?
Yes although not done that before
James, the scores are in! Scale of 1 to 10: Tour = 10; Socks = 10; Master Cabin Gymnastics = 5; Microwave behind a cabinet door that must be opened with every use = 1. Hope you answer the question below about your thoughts on the length of a first fly bridge boat. This is a very special boat!
Love the scores Jack 🥳🥳
what is the burn about 10kts please x 2, thanks expletives are an optional extra ( I have the T shirt for that one )
Fuel burn will drop down under 100 litres per hour at that speed 😊
Such an elegant camo-roll across the master bed 🤣
Very informative video and great to see the costs, but a little underwhelmed by what you get for north of £1m s/h - the living areas were not particularly impressive or characterful imho.
Thanks David. The boat was not dressed so hence the underwhelming look similar to a house with no contents 😜
And is the £18k/year berth fees for somewhere typical in the UK like Poole/Lymington for a 60ft boat?
Yes I proved for south coast marinas 😍
So as requested I am going to ask a question (and I also subscribed, as requested). When buying a yacht, is it better to buy it outright or better to finance it. This, of course, is if you are rich enough to flat out buy a yacht in one go. Also, is it better to try and manage all of this on your own or hire a yacht management company to oversee everything?
And one more thing....sorry, but you did say to ask questions😂: Is it feasible to use one of these boats as your primary residence and do marinas even allow you to live aboard?
Buy outright if poss