yachts under 3 million

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Sunk superyacht likely to cost insurers at least $150 million, experts say

By Noor Zainab Hussain and Carolyn Cohn

LONDON (Reuters) - Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts.

The British-flagged 56-metre-long (184-foot-long) yacht, which the experts estimated cost around $40 million, capsized and went down on Aug. 19 within minutes of being hit by a pre-dawn storm while anchored off northern Sicily.

The superyacht's hull was insured against physical damage by yacht insurance provider OMAC and a consortium of insurers including Travelers Companies Inc, Navium Marine and Convex, Reuters reported last week.

Its protection and indemnity (P&I) insurance, which typically covers third-party liability claims including for environmental damage, injury and death, was provided by British Marine.

The hull was likely insured for around $40 million, while the P&I cover would be larger, insurance sources said.

"Our understanding is that the cost of the boat was between $40 and $50 million, so the limit of the hull & machinery policy was probably around those values," said Marcos Alvarez, managing director, global financial institution ratings at Morningstar DBRS.

The P&I policy would likely be "several multiples" of the hull policy, or $200-300 million, Alvarez added, noting it would also likely cover liability payments even if the captain or crew are found to be negligent.

Prosecutors in the town of Termini Imerese, near Palermo, are investigating the captain and two other crew members. An investigation does not imply guilt or mean formal charges will follow. Prosecutors have said the probe would take time and require salvaging the wreck.

Oscar Seikaly, CEO of broker NSI Insurance Group, that provides yacht insurance, estimated the hull value at $40-70 million, but said P&I cover might not total more than $100 million.

P&I insurance would also cover recovery of the Bayesian, said Francesco Dubbioso, country manager for Italy for insurer Alta Signa Europe, who estimated the superyacht's value at $30 million to $40 million.

Reuters is the first to report the potential insurance costs. OMAC, Travelers and Navium Marine did not immediately respond to Reuters' for comment. Convex declined to comment.

The Bayesian disaster, which has puzzled experts who said the boat would have been built to withstand a severe storm, adds to recent woes for yacht insurers, who have faced a raft of hurricane losses in the past few years.

Premium rates have risen by four to five times in the past couple of years in parts of the U.S. and the Caribbean, and yacht insurers have cut the amount of cover they provide because of the risks, Seikaly said.

As a result, insurers have increased rates and re-evaluated their guidelines and risk appetite, according to industry experts.

As well as hurricanes, insured losses have mostly stemmed from severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh.

Seikaly said four clients had last week been ready to buy boats but changed their minds because of the high cost of insurance.

Climate change was also likely to add to yacht insurers' worries, Seikaly added, as it throws up more unexpected events.

"Whoever thought a storm in the Mediterranean in the month of August is going to sink a ship?"

(Additional reporting by Sinead Cruise; editing by Michelle Price and Sandra Maler)

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3 Million Dollar Yachts

Find the perfect 3 million dollar yacht for sale.

Discover an exquisite selection of yachts for sale, each meticulously crafted and priced at $3 million, offering unparalleled luxury and performance. These yachts represent the pinnacle of marine engineering, featuring state-of-the-art technology, opulent interiors, and sophisticated design. From sleek motor yachts to elegant sailing vessels, our curated collection caters to discerning buyers seeking the ultimate yachting experience. Each yacht promises exceptional comfort and style, with spacious accommodations, gourmet kitchens, and lavish amenities. Embark on your next adventure with confidence, knowing that a $3 million yacht from our exclusive range will deliver an extraordinary blend of luxury, innovation, and timeless elegance.

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Blog | Timeless Luxury: Best 80′ to 90′ Yachts Available for Under $3 Million

Timeless luxury: best 80′ to 90′ yachts available for under $3 million.

Embark on a journey with 80′ to 90′ yachts, blending classic elegance and modern allure, all under $3 million. These floating masterpieces from a bygone era boast timeless designs, impeccable craftsmanship, and a touch of nostalgia, making them not only vessels of luxurious indulgence but also captivating symbols of maritime history. From sleek cruisers to majestic offshore yachts, this curated selection promises an extraordinary seafaring experience without breaking the bank. Dive into an era of sophistication and discover the perfect yacht to navigate the seas in style. Where the allure of the past meets the thrill of the present—all at an accessible price point. 

2009 90′ Hargrave “Heartbeat”

Asking $2,599,000.

“Heartbeat” features a 4 stateroom and six head layout accommodating 10 owner’s and guests. Also including a separate crew quarters with two crew cabins ensuite. On the main deck is the galley and a very open, inviting salon which includes a formal dining area and bar. The upper deck consists of a large sky lounge and aft upper deck area that offers the best of both worlds. 26 North Yachts is pleased to assist you in the purchase of this vessel. This boat is centrally listed by Northrop and Johnson. It is offered as a convenience by this broker/dealer to its clients. It is not intended to convey direct representation of a particular vessel.

2004 88’ Pershing “Amora”

Asking $1,995,000.

Over the years, we have researched, boarded, and sold virtually every type of boat – but nothing compares to “Amora”. Prior to 2016, she had been a well-maintained, contentedly “standard” super high-end 88 Pershing . Then everything changed. In the course of the next three years, ending in 2019, virtually every surface, piece of equipment, and square foot of upholstery was tastefully & thoughtfully updated with the very best that U.S. dollars – and a combined century of refitting experience – could conjure. At least $3 million. That’s the amount that, by conservative estimates, the current owner has spent on this 2004/2019 88′ Pershing. She is an admittedly incomplete snapshot of a one-of-a-kind, world-class vessel. “Amora” sits right now in Lighthouse Point, a state-of-the-art vessel in stunningly pristine condition.

2015 84’ Horizon “Ocean Life”

Asking $2,995,000.

Swathed in elegance and offering a slew of features throughout her 91’6′ LOA, “Ocean Life” was built to cruise in luxury. This E84 motor yacht is customized specifically for the U.S. market based upon owner feedback. She provides both comfort and functionality on each level and can be easily operated with a smaller crew or by knowledgeable owner-operators. The Horizon E84 open bridge motor yacht focuses on exterior entertaining and fun. Spacious side-deck walk-arounds lead to the forward bow area with sunpads and bench seating for enjoying the sunshine while at anchor. The hydraulic swim platform effortlessly launches watercraft and serves swimming, diving, and fishing activities with ease and convenience.

2007 84’ Lazzara “Chip”

Asking $1,790,000.

Built in 2007, “Chip” exemplifies the renown yacht building capabilities of American yacht builder Lazzara Yachts. The innovative design of the 84 Lazzara features a total of five staterooms with crew quarters and a jetski pod aft, making her perfect for larger families. Ample space in her salon, country kitchen, and flybridge make comfortable gathering spaces for you and your guests. The pride of ownership shows throughout this yacht, with a well documented history of service as well as upgrades.

2013 Schaefer 80 “Veloce II”

Asking $1,999,000.

Just for under $2m, the next owner will feel like they bought a practically brand new yacht when they board this beautifully refitted 2013 Schaefer Pininfarina 800. Extensive exterior teak flooring throughout is in pristine condition. A recent large scale refit, low engine hours, and full scale engine service makes this boat a truly extraordinary value. Veloce II reaches 35 knots and cruising comfortably at 25 knots, swiftly transports your loved ones to the Bahamas with elegance.

This 80 ft 2013 Schaefer 800 is equipped with the “Pininfarina” design package which is part of an exclusive limited edition styled by the renowned Italian Ferrari design firm. This includes upgraded soft and hard goods, hardwood flooring, carpets, headliners and wall coverings.  Not to mention the pair of RECARO Captain racing helm seats. This package is a $300,000.00 upgrade.

2006 Offshore Yacht 80 “Voyager”

Asking $1,899,000.

“Voyager” stands as an exquisite testament to the ingenuity of naval architect William Crealock and Offshore Yachts ‘ unwavering commitment to excellence. This vessel has the design as a long-range cruiser, it was created to meet the lofty standards of maximum comfort, safety, and versatile functionality. With a draft of 5’10”, this classic design isn’t merely suited for exploring the islands of the Bahamas and Caribbean. It excels in all sea conditions, making it peerless in the industry for long open ocean passages. “Voyager” accommodates up to seven guests. With three luxurious ensuite staterooms and two crew in the one ensuite aft cabin with its own galley and workshop. She features a Portuguese bridge for easy handling and docking with excellent visibility from an enclosed flybridge. This yacht has been professionally maintained and is fully equipped to be ready for its next cruising adventure.

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Used Yachts For Sale From $800,000 – $1,000,000

Listed below are used yachts for sale worldwide from $800,000 – $1,000,000. Use the search tools to narrow your exploration. SYS Yacht Sales offers a wide range of luxury used yachts for sale, including long range cruisers, motor yachts, trawlers, cruisers, sailing yachts and everything in between. Search top brands like Azimut, Ferretti, Sunseeker, Princess, Hatteras, Viking, Carver, Grand Banks, Ocean, Tiara and much more. Need assistance? Contact our experienced yacht brokers. We look forward to helping you find the yacht that's right for you.

Blount Custom Tri-Deck

Magic spirit.

Moonride Runabout 43 OB

YOT Yolcu-Passanger/Ferry/Tripper

Broward Motor Yacht

Island time.

Skipperliner Custom Dinner/Event

Magic charm.

Breaux Bay Craft

Enchantress.

Poole 105 Expedition

Cantieri di Pisa Akhir 30S

Custom Aluminum Landing Craft

Mangusta Motor Yacht

Broward Raised Pilothouse MY

Golden eagle.

C & L Cantiere Craglietto

Hargrave Motoryacht

Knight & Carver Custom 30M

Golden osprey.

Jongert 24m

Admiral bellingshausen.

Kong & Halvorsen Island Gypsy

Benetti Sail Division 101

Motor Yacht Elegan | Giant 28

Hatteras Sport Fisherman

Monte Fino 92 MY

Fantasy 19 X 90

Arno Leopard 27

Pershing 88

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Used Yachts for Sale Between $4000000 and $5000000

If you're looking for a pre-owned yacht for sale under $5 million dollars, SI Yachts has the expertise to assist you in choosing the perfect boat for your requirements. Whether heading offshore to hunt for billfish or cruising the east coast, there are many options available on the yacht brokerage market. This is where the personalized customer service and knowledge our team proves valuable to you as the customer.

Boats for sale under five million dollars online include brands like Azimut Yachts ,  Ferretti Yachts , Hatteras Yachts , Ocean Alexander ,  Princess Yachts , Sanlorenzo , Sunseeker Yachts , Viking Yachts , Westport Yachts , and more! From New York, to Florida, and beyond, SI Yachts can assist you in the purchase or sale of a boat under $5,000,000. We look forward to earning your business! Contact us today at [email protected] or by calling one of our convenient locations . SI Yachts are also Licensed Florida Yacht Brokers.

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Yachts for Sale

For aspiring yacht owners looking for a luxury yacht for sale, we have put together a fine selection of luxury yachts and megayachts for sale from all over the world. Search BOAT International's collection of superyachts for sale and filter by type, length, asking price or age. Narrow the results by selecting specific features, or browse by speed, designer and much more.

Explore luxury yachts for sale

Search for everything from motor yachts for sale from renowned Dutch yards including Feadship and Heesen , premium Italian names including Azimut , Sanlorenzo and Benetti , popular British builders Sunseeker and Princess , and American megayachts for sale from US yards such as Westport .

Our collection also features sailing yachts for sale from legendary names such as Royal Huisman , Perini Navi , Nautor's Swan and Jongert , as well as some of the most well-known explorer yachts for sale .

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Used Yachts For Sale Under $25,000,000

191' Trinity Yachts Custom 2009

$ 24,950,000

Dania Beach, United States

155' Sunseeker 155 2016

$ 24,750,000

Palm Beach, United States

164' Trinity Yachts Trinity 164 2011

$ 24,500,000

Palermo, Italy

170' Amels 2004

$ 23,900,000

Corfu, Greece

145' Sanlorenzo 44 Alloy 2020

$ 23,750,000

Fort Lauderdale, United States

130' Extra Yachts X130 TRIPLEX 2026

$ 23,306,000

Ancona, Italy

165' Naval Yachts 2025

$ 22,764,000

West Palm Beach, United States

170' Benetti Custom 2008

$ 22,500,000

Nassau, Bahamas

156' Delta Marine Custom 2011

$ 21,950,000

164' Delta Marine Custom 2006

$ 21,900,000

Naples, Italy

160' Trinity Yachts 2000

128' Numarine 40MXP 2026

$ 21,290,000

ISTANBUL, Turkey

Description

Finding a used yachts for sale under $25,000,000 that fits your needs when it comes to number of passengers, horsepower, inside accommodations, and other features on board can be a challenge with so many options available on the market today. There are many types of boats available under $25 million like luxury  motor yachts , with many good options across all length ranges. Still, there are plenty of opportunities with brands like  Princess ,  Benetti ,  Westport ,  Trinity Yachts , and others. Let the team at United Yacht Sales help you find the right vessel that fits your needs under $25 million.

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