Buy and charter my new yacht.

I am in Ibiza now on my boat, private, no charter. It is a beautiful Saturday. Town is full of people. There are so many boats with "For Charter" signs and just sitting at the dock. Very unscientific observation but seems difficult to charter, too much competition.

You may want to re-thing the Princess thought;
https://www.yachtforums.com/threads/new-princess-55-quality-control-problems.30164/

Boats are very expensive to maintain. I do not think anyone makes money on charter. Perhaps pay a few expenses. Start to add up, maintenance, insurance, crew, dockage. Also there are all the unknowns, like blowing an engine perhaps, maybe a few hundred thousand dollars or Euros. Bad weather, crew does not show up. Charters trash the boat, hit a rock, run aground, list goes on and on. Let's not forget depreciation. Apartment might appreciate boats depreciate. Don't get me wrong, I love boats and boating BUT it is very expensive and a money loosing hobby. Boats are a terrible investment.

Worth repeating.

Boats are toys. They are not an investment, terrible or otherwise.

With a good setup you can get charters to pay the expenses and get some tax benefits. With a good crew charterers don't trash the boat and the boat doesn't end up on the rocks. We re not talking bareboat here. 10+ years of chartering and i have never had to call the owner and explain the boat was trashed. .

That said I am not familiar with the med market so take the above with a grain of salt

If he charters the boat out of Ibiza. They will run for the day to Formentera, about 12 miles. We were anchored off a few days ago. All the day boats in that size, had 8 to 12 people, 99% were drunk, smoking, drinking, throwing bottles in the water for the crew to fetch. The crews were not having fun. Hard to believe, that this owner is going to be happy with these day people. It can get quite a roll in this anchorage from the massive amount of ferries. One day boat about 50 yards from us, had many seasick people making a mess of the boat. Think hard before going ahead. Just my 2 cents and I could be 100% wrong.

Boating is our recreation and pleasure. Many easy ways to ruin that. One of those is getting into the charter business. Suddenly, boating is a business, a job. Same reason we don't own boating related businesses like marinas and, unlike chartering, they can actually make money. We don't want to contaminate our boating.

Worth repeating again

I have repeatedly made money on boats. Two to be exact. Made $20k on a 480 Sedan Bridge and made a whopping 30% return on a 33' Powerplay after using it for 3 years. I have lost money on everything else!

Martin, just mentioning there are various marine and business licensing issues associated with chartering. If you don't hold the correct licenses, you'll have to look into hiring a captain (for instance) who does. Crew persons need certifications, and so forth, too.

And then you (and your crew) needs the kind of personality compatible with entertaining some nice folks... and some bozos...

-Chris

Sometimes we get lucky. The market improves on a vertical market or we got a deal when we purchased it or both.
It's a bad poker hand.

Pascal said it well; Boats are toys. They are not an investment, terrible or otherwise.

I do lean towards Terrible. However, our old ship has done well. It's still a working toy.
We would be smarter to of live on land these last 15 years.

There is nothing agreeable with a sudden engine replacement or running gear causality.
But that is a poor poker hand.