yacht under 1 million

Luxury & Performance: 5 Motor Yachts Under $1 Million Ready for Adventure on the Water.

Jun 23, 2023

Luxury yachts are every seafarer’s dream, but they don't have to remain a dream. With careful planning and research, you can find a luxury yacht that fits your lifestyle. Here are 5 luxury yachts under $1 million available right now:

1. D’PADRON - 2013 AZIMUT 58 FT FOR SALE (pictured above)

The D’PADRON is a sleek and stylish yacht that offers the ideal blend of luxury and comfort. This 58-foot Azimut boasts state-of-the-art amenities, including an open salon, a fully equipped galley, and three comfortable staterooms, and the flybridge offers a relaxing and spacious outdoor area that can seat up to 10 guests. The D’PADRON is priced at $849,000, making it an excellent choice for those looking for a high-quality yacht to begin their nautical adventures.

2. SATISFIED - 2008 SEA RAY 60 FT FOR SALE

SATISFIED is an elegantly designed and well-equipped 60-foot Sea Ray yacht with plush interiors and impressive performance capabilities. With its three luxurious staterooms, spacious salon, and well-equipped galley, this yacht is perfect for family getaways and weekend outings. Additionally, the vessel comes with a hydraulic swim platform, tender garage, and fully equipped flybridge, for the ultimate luxury yachting experience. You can purchase this stunning yacht now for $849,000.

3. COCONUTS - 2022 TIARA YACHTS 38 FT FOR SALE

With its innovative design and excellent performance, COCONUTS is a splendid 38-foot vessel from Tiara Yachts. The vessel offers a spacious layout, including a cozy salon, a fully equipped galley, and two comfortable staterooms. The outdoor experience is equally impressive, with a large cockpit and sun pad perfect for soaking up some rays. This stunning yacht can be yours for $765,000.

4. ANDI LYNN - 2019 INTREPID 40 FT FOR SALE

Last on our list is the ANDI LYNN, a 2019 Intrepid 40-foot center console yacht that offers both luxury and performance. This yacht has a modern, sporty look and comes equipped with a spacious cockpit, comfortable seating, a fully equipped galley, and a cozy salon. The vessel's performance capabilities are also remarkable, thanks to fast and reliable outboard engines. You can purchase this stunning yacht for $665,000.

5. JOURNEY - 2016 TIARA YACHTS 45 FT FOR SALE

JOURNEY is a 45-foot flybridge from Tiara Yachts that oozes luxury and elegance. Launched in 2016, this yacht is well-appointed with a spacious salon, fully equipped galley, and two comfortable staterooms. With ample indoor and outdoor seating options, the yacht's flybridge deck sports a wet bar, grill, and comfortable seating. You can purchase this sports yacht today for $735,000.

These yachts offer a range of options for individuals looking to enter the world of luxury yacht ownership. Each provides an exceptional experience by combining state-of-the-art amenities with the comfort of being on the water. Owning these high-quality yachts would be a dream come true for any nautical enthusiast.

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10 Used Yachts Under $1 Million Available Now

• By Jake Lamb
• April 17, 2024

For boaters looking for a new-to-them used yacht, now is a great time to start scouting options as the used-yacht segment has been shifting to a buyer’s market . To help boat buyers in their yacht shopping, here’s an in-depth look at 10 used yachts priced under $1 million that are ready for new owners today.

2003 Ferretti Yachts 590 Motoryacht – Pretty Lady – Fort Lauderdale, Florida

The Ferretti Yachts 590 is a flybridge motoryacht penned for entertainment and relaxation. Gilman Yachts has this 2003 Ferretti 590, Pretty Lady , listed with a $499,000 asking price.

Exterior entertainment spaces aboard Pretty lady include a two-person sun pad on the foredeck, two forward-facing transom bench seats in the cockpit and a U-shaped dinette on the flybridge.

Inside, the split-level salon has a lounge area aft with a U-shaped settee to port and a chair to starboard. Staircases flank the salon amidships with the floating staircase to port leading up to the flybridge and the staircase to starboard leading belowdecks. A more formal dining spot, a C-shaped dinette, is forward and up three steps to starboard, directly adjacent to the helm station.

The galley is down, located amidships and accessed via the starboard stairway. The galley is equipped with a Bosch four-burner electric cooktop, a Premium refrigerator and freezer and a Cuisinart built-in microwave oven.

Sleeping Accommodations

• Master Stateroom: athwartships tapered queen berth
• Forepeak VIP: centerline queen berth
• Guest: side-by-side single berths

Power for the Ferretti Yachts 590 is twin 1,050 hp MAN diesels, which push it to a reported 34-knot top.

Some other notable features on board Pretty Lady include:

• ICOM IC M504 VHF
• Jabsco searchlight control
• Simrad AP 22 autopilot
• Raymarine ST60 Tridata
• Garmin GPSMAP 7612Xsv touchscreen

Take the next step: Contact Jeff Stanley, 954-249-0360, [email protected]

Quick Specifications

• Length Overall: 59′
• Maximum Beam: 17’3″
• Fuel Capacity: 924 Gal.
• Draft: 5’2″

2005 Hinckley Yachts Talaria 40 – Elise – Portland, Maine

“The new [Hinckley] Talaria 40 is neither as sporty as her smaller sibling nor as soft on the senses as her larger sister. She fits nicely between the two, with accommodations that invite owners to spend more than a weekend aboard, even to prepare meals and sleep,” Yachting previously reported. 

Worth Avenue Yachts has Elise , a Hinckley Yachts Talaria 40 that combines classic downeast lines with angling features, listed for sale with a $599,000 price tag. While the yacht was originally delivered in 2005, it was transformed in 2012 after naval architect Mathew Smith, engineers from Volvo Penta and Hank Hinckley replaced the standard jet propulsion system with the latest Volvo Penta IPS pod-drive propulsion system, resulting in a “groundbreaking and first-of-its-kind modification,” according to Worth Avenue Yachts.

The yacht has “enhanced tracking, superior turning ability, and a more efficient midrange cruise compared to traditional jet-powered counterparts,” says the broker, adding, “ Elise goes a step further by offering dynamic positioning, allowing her to hold a specific GPS position at the touch of a button—an invaluable feature not only around docks but also during bridge wait times or while observing an upwind mark rounding in a sailing race.”

With the yacht’s previous owner being an avid fisherman, they added an array of features that enhance the fishing experience, including 27-foot Rupp removable outriggers, rod holders, a baitwell, a slightly modified cockpit, a removable rocket launcher and a livewell.

Belowdecks, owners and guests have access to the day head to port, the V-berth cabin forward and the galley to starboard. The galley is equipped with a Corian countertop, a two-burner Princess electric cooktop, a single-basin polished stainless-steel sink, a Sharp convection microwave oven, an Adler Barbour refrigerator/freezer and a U-Line ice maker.

The interior has two L-shaped settees and a fixed table to port. Twin low-hour (653) 435 hp Volvo Penta IPS600 diesels power the 40-footer.

Additional features aboard Elise include:

• Garmin 8617 multifunction display/radar, chart plotter
• Simrad AP28 Autopilot
• Icom IC-M602 VHF
• Raymarine ST60 Tri-data display

Take the next step: Contact Worth Avenue Yachts ,1-206-209-1920

• Length Overall: 40’1″
• Maximum Beam: 12’5″
• Draft: 3’2″

Grand Banks 46 Eastbay SX – 2012 – Defiance – Essex, Connecticut

“Sportiness is not a modifier often associated with Downeast-style express cruisers. But the new 46 Eastbay is powered by the Zeus propulsion system from Cummins MerCruiser Diesel, which changes the game as far as performance and handling are concerned,” Yachting previously reported . 

Grand Banks Yachts built, and is currently selling Defiance , a Grand Banks 46 Eastbay SX, for $829,000. The 2012 Downeast Cruiser features a two-stateroom, two-head layout. It’s powered by twin 600 hp Cummins QSC 8.3 diesels with Zeus pod drives, which give the 46 Eastbay SX a 31-knot top hop.

The interior of the 46-footer has satin-finish teak with a teak-and-holly sole throughout the interior. A U-shaped dinette to port and a sofa to starboard complete the salon’s seating arrangement.

Belowdecks, owners and their guests will find the galley amidships with the en suite master stateroom and its queen berth forward in the bow. Galley appliances include a Princess Gourmet three-burner cooktop, a freezer, two refrigerator drawers, a microwave/convection oven, a stainless-steel sink and provision stowage.

Some other notable features on board Defiance include:

• New Garmin electronics suite
• Freedom hydraulic tender lift
• AB center console
• Stidd helm chair

Take the next step: Contact Steve Fithian , [email protected], 954-383-1999

• Length Overall: 46′
• Maximum Beam: 14’7″
• Draft: 3’4″

2004 Azimut Yachts 62E – Nailed It – Orange Beach, Alabama

When Azimut Yachts first introduced the 62 Evolution in 2004 to replace its 58 Fly, the builder focused on creating a vessel suited for family-style cruising and entertaining. Nailed it is a 2004 Azimut 62E listed with United Yacht Sales for $569,000.

That yacht has a split-level interior arrangement with a lounge area aft, and the formal dining forward and adjacent to the lower helm station and galley. A C-shaped settee and fixed coffee table are to port and a sofa is to starboard. The C-shaped dinette is up two steps and to starboard. The galley is equipped with a service bar, a double sink, a four-burner glass cooktop and an upright refrigerator and freezer.

Outside entertainment spaces include the sun pad on the foredeck, the transom bench seat in the cockpit and a U-shaped dinette on the flybridge that doubles as a lounge pad.

After a fun day on the water comes to an end and owners and guests alike are ready to turn in, head belowdecks where three staterooms offer accommodations for six. The full-beam amidships master stateroom has an inboard-facing angled queen berth and an en suite head. The forepeak VIP has a queen berth while the third guest stateroom has single berths.

Power for Nailed It comes from twin 914 hp MTU 8V 2000 M 90 diesels, giving the 65-footer a reported 31-knot top hop.

Some other notable features on board Nailed It include:

• Bow/Stern Thruster control
• Garmin  12-inch touchscreen chart plotter
• Simrad AP-22 autopilot
• Simrad RS-87 VHF radio
• Simrad IS-15 Digital depth gauge
• Simrad RA-44C radar

Take the next step: Contact Jim Hill , [email protected], 1-772-215-0878

• Length Overall: 65’1″
• Fuel Capacity: 988 Gal.

2002 Viking Yachts 61 Enclosed Bridge – Kiki – Destin Florida

For anglers in the market for a supersize sport-fisherman, Galati Yacht Sales has Kiki , a Viking Yachts 61 Enclosed Bridge, listed for sale with an $899,000 price tag. The 2002 build has a 170-square-foot cockpit, an all-weather skylounge and room for a hardcore tournament crew.

The enclosed bridge has two access points, either via the salon or from stairs in the cockpit. The helm station has a seat on centerline flanked by a bench seat to starboard and a second helm chair to port. An L-shaped settee, coffee table and flat-screen TV abaft the helm station gives the space a skylounge vibe. One level up from the enclosed bridge is a second helm station that offers a clear view of the trolling spread. 

Kiki ’s salon has lounge seating aft with an L-shaped sofa and coffee table to port. The galley is forward with a C-shaped dinette directly to starboard. The galley comes with a U-shaped, high-polished Corian sandstone countertop and an array of appliances including:

• Under-counter refrigeration with drawers, two refrigerators and one freezer
• Trash compactor
• Garbage disposal
• Microwave convection
• Three-burner recessed cooktop 

When a long, successful day of fishing comes to an end, three staterooms await the crew belowdecks. The amidships master stateroom has a king berth and an en suite head. The forepeak VIP has a centerline queen berth and the third stateroom has bunk berths.

Twin 1,480 hp MTU 12V2000 diesels provide power for Kiki . Both engines have 1,100 hours on them.

Some other notable features on board Kiki include:

• Release Marine Helm Chairs with Polished Stainless Pedestals
• New DDC/MTU Displays
• New Garmin GPS
• New ICOM VHF
• New Garmin Plotter

Take the next step: Contact Jim Azzolini , 850-259-3246 or Will Roohan, 443-610-2861 

• Length Overall: 61′
• Maximum Beam: 18’2″
• Draft: 5’4″

2018 Azimut 50 Fly – Relentless – Miami, Florida

MarineMax currently has Relentless, an Azimut Yachts 50 Fly, listed for sale at $895,000. The 2018 flybridge cruiser is dressed to impress inside and out with a variety of outdoor entertainment spaces and a main-deck interior that Yachting once described as contemporary and warm.

Volume-enhancing windows line the main deck superstructure, bathing the salon, galley and lower helm station in natural light. The split-level interior has the salon aft with a U-shaped settee and fixed folding table to starboard and a sofa to port. First-time guests probably won’t even notice the main deck galley which feels seamlessly integrated into the port-side counters, directly across from the two helm seats.

In addition to the flybridge amenities like the sun roof, sink, refrigerator and barbecue, it also has entertainment spaces like two facing sofa aft and a U-shaped dinette forward that doubles as a lounge pad. In the cockpit below guests can enjoy alfresco dining at the transom settee and fixed table, pull up a few chairs to fit up to six people. On the foredeck owners and their guests can enjoy sunbathing on the two-person sun pad.

Relentless has sleeping accommodations for up to six people in three staterooms. The full-beam amidships master stateroom has a centerline berth and an en suite head as does the forepeak VIP stateroom. The starboard guest stateroom has single bunk berths.

Twin low-hour (750) 670 hp Volvo D11 diesels power Relentless pushing it to a reported 32-knot top hop and a 25-knot cruise speed.

Take the next step: Contact Jorge Camaraza , 786-547-2847

• Length Overall: 52’9″
• Maximum Beam: 15’3″
• Fuel Capacity: 581 Gal.

2008 Huckins 60 – Marina – Naples, Florida

“Her reverse transom masks an integral swim platform, which seems a practical compromise to tradition and accounts for her length overall (60 feet, 3 inches). Her styling has been refined: It’s a bit softer and has more curves than Frank Huckins might have liked. Such features were not efficient in wood construction. The gentle rise of her slightly reverse sheer, her proud chine, and the conservative rake of her stem are trademark Huckins,” Yachting previously reported . 

Allied Marine has a 2008 Huckins 60 for sale with a $995,000 asking price. Marina , a 60-foot motoryacht, has a two-stateroom layout, a new Glendinning Joystick control system and a 2-foot, 7-inch shoal draft.

The open, dance-floor-sized cockpit is a blank canvas for owners to equip to suit their entertainment needs, fishing and more. 

A few steps up from the cockpit is the bridge deck, which has the helm forward and two three-person sofas flanking the lounge space aft. A fixed, high-gloss folding table between them turns the lounge area into a formal dining spot.

Stepping belowdecks, there is a salon and open galley with three hullside windows on either side bathing the space in natural light, creating the sense of interior volume. Galley appliances include:

• Sub-Zero refrigerator and freezer
• Miele dishwasher
• Kenyon two-burner ceramic stovetop 
• Granite countertops
• Built-In storage for crystal, china and flatware

Abaft the lower-deck lounge area and down a few steps is the full-beam amidships master stateroom, which has a queen berth and an en suite his-and-hers head, separated by a shower stall. The forepeak guest stateroom has V-berths.

Marina has the same 715 hp Cummins QSM 11 diesels our test yacht had, which saw a 31-knot top hop and a 25-knot cruise.

Notable helm features on board Marina include:

• Glendinning Pro Pilot Joystick control
• Glendinning Pro positioning system 
• Two Furuno Navnet 17 chart plotters
• Simrad Autopilot AP 25
• ICOM M504 VHF
• Ritchie Compass

Take the next step: Contact Don Strong , 1-239-272-9446, [email protected]

• Length Overall: 62’3″
• Maximum Beam: 16’6″
• Draft: 2’7″ 

2007 Hatteras 54 Convertible – Salt Cracker – Dunedin, Florida

If you’re in the market for a 50-foot-class sport-fisherman, your search may be over. HMY Yacht Sales currently has Salt Cracker , a 2007 Hatteras 54 Convertible, listed at $949,000.

The 54-footer has its original Caterpillar C32 diesel engines with 2,530 hours. The convertible has a three-sided enclosure and a two-seat upper helm station.

The mezzanine cockpit seating was just reupholstered. Salt Cracker ’s other cockpit amenities include tackle stowage to starboard, an ice dump in the port mezzanine step, a deep freezer in the portside mezzanine seat, stowage under the steps, a refrigerated step box, a teak six-rod rocket launcher with two cupholders, six in-gunwale rod holders, four clearing rod holders in haunches and a removable in-deck fish box.

The salon has an L-shaped sofa and coffee table to port and an L-shaped dinette forward and to starboard. The galley is forward to port and is equipped with an array of appliances and features, including:

• Frigidaire four-burner cooktop
• Sub-Zero under-counter drawer refrigeration units (six drawers total)
• Sharp Microwave convection oven
• Fluted wood valances
• Stainless steel under-mount sink with single-lever faucet
• Drawer, pantry and cabinet stowage

Belowdecks, guests will find an amidships en suite master stateroom with a walkaround queen berth, a forepeak VIP with a crossover berth and a guest stateroom with side-by-side twin berths.

Some other notable features on board Salt Cracker include:

• 8622 Garmin 22-inch touchscreen multifunctional displays
• Garmin HD radar
• Garmin 8610 touchscreen multifunctional display in tower
• Fusion sound system with JL Audio speakers, amplifier, and subwoofer
• KVH UHD7 Satellite system
• 17.5kW Freshwater-cooled Onan generator 

Take the next step: Contact Mark Mitchell , 407-435-6982, [email protected]

• Length Overall: 54′
• Fuel Capacity: 1,250 Gal.
• Draft: 4’2″

2016 Prestige 550 S – Solid Asset – St. Petersburg, Florida

For owners in the market for a yacht with room for family cruising, amenities for at-sea entertainment and power for a fun-driving experience, Galati Yacht Sales has this Prestige 550S listed at $869,000. Solid Asset , a 2016 Prestige express cruiser, has a three-stateroom layout and 31-knot speed.

The Prestige 550S maintains a constant connection with the environment across a variety of onboard spaces, from the foredeck sun pad to the alfresco dining in the cockpit, and to the salon thanks to nearly 360 degrees of windows and a sliding glass door aft.

The galley-aft layout reinforces Solid Asset’ s entertainment-focused sensibility, making it easy to serve guests in the cockpit and the salon. The galley has an array of meal-prep appliances, including a Bosch induction stovetop, a Cuisinart stainless-steel convection/microwave oven, a dishwasher, a refrigerator-freezer and an ice maker.

In the salon, guests will find a sofa to starboard and abaft the helm station, and a U-shaped dinette to port that accommodates six guests for meals.

When it’s time to retire, three staterooms belowdecks can sleep up to six. The full-beam amidships master stateroom has a queen berth and en suite head.

Power for Solid Asset is provided by twin Cummins QSC 600 8.3L diesels.

Other notable features aboard Solid Asset include:

• Seakeeper 9 gyrostabilizer 
• Onan generator
• Raymarine electronics package
• Hydraulic swim platform

Take the next step: Contact Jeff Rummel , 1-239-691-8100

• Length Overall: 55′
• Maximum Beam: 15’8″
• Draft: 3’10” 

2012 Riva SportRiva 56 – Gabriela – North Miami, Florida

“Riva’s SportRiva 56 is a dangerous yacht. It will blur your eyesight, disturb your emotions, mess with your mind. It is that older woman with the sultry eyes sitting alone at the bar. Walking down the pier toward the SportRiva, your mind says, “Run! Run for your life!” But you are powerless, drawn inexorably like metal filings to a magnet,” Yachting previously reported . 

Atlantic Yacht & Ship Inc. has the 2012 Riva SportRiva, Gabriela , for sale with an $850,000 asking price. The chic 56-foot flybridge cruiser has such a low-profile sportbridge guests might first think they’re looking at an express cruiser.

Twin MAN V8-900 diesels give Gabriela a 34-knot top hop and a 30-knot cruise speed. Yachting previously reported that, “With her 15-degree transom deadrise, she had a soft ride in the choppy Gulf Stream off Florida, and she took just a touch of trim tabs to run flat and fast.”

Outside entertainment spaces on board Gabriela include a foredeck sun pad, two lounge pads on the flybridge and a diner-style booth in the cockpit.

In the salon, guests will find seating to port with a settee and fixed table adjacent to the helm station.

Stairs to starboard lead down to the galley, which has a Miele dishwasher, a Bosch 4-burner electric cooktop and an Isotherm fridge with a separate freezer. Sleeping accommodations for six people in three staterooms reside belowdecks.

Some additional feature on board Gabriela include:

• Furuno chart plotter
• Garmin xsv gps
• Three MAN displays for engines and for yacht computer
• Raymarine ST60+ Tridata
• Furuno autopilot
• Williams Jet Tender

Take the next step: Contact Levi Beckman, 949-235-2084

• Length Overall: 56′
• Fuel Capacity: 602 Gal.
• Draft: 4’8″

Looking for something under $500K? No worries. Here are 10 Used Yachts You Can Have For Under $500,000.

• More: Azimut , Azimut Yachts , Brokerage , Ferretti , Ferretti Yachts , Grand Banks , Hatteras , Hatteras Yachts , Hinckley , Hinckley Yachts , Huckins , Prestige Yachts , Riva , Riva Yachts , Viking , Viking Yachts , Yachts for Sale
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Top 10 Downeast Boats - That You Can Buy for Under $1 Million

Many many years ago, as a young, enthusiastic, and energetic sailor, I had a conversation one evening with an old friend of my father's.

We sat on the engine box top of his motor yacht, quenching our thirst, in the setting sun. His hair, I remember was all white, skin like boot leather and a way of speaking which involved long pauses before even the shortest of his sentences were uttered. I was no doubt naive and honestly, probably rather blinded, by my then unbridled excitement for ocean racing.

I was intrigued and puzzled.

Here was a man I knew who had traveled in sailing yachts, extensively across oceans, before and after the last great war, regaling me with tales of his great passion for and his long experience of, voyaging under sail.

He was, however, rather astonishingly, I thought, ... telling me all this from the stern of a motor yacht which he now owned.

Completely incongruous ... I said to myself at the time!

Why, I asked him, do you own this vessel, when your eyes light up when reminiscing about sailing yachts?

He smiled and then .... after the mandatory long pause, replied: "You will young man someday, if you are fortunate, come to understand."

Fifty years later I possibly do!

Over the years, my reflexes have slowed, my desire to work the foredeck on a cold and windy night has abated some, and the word "easier" has increasingly edged into my conversations. I have learned to channel my energies more selectively. A good night's sleep in a level bunk is now far nearer the top of my mind and yes, I must admit, a large stable platform and the ability to really live...... below decks, while underway have all worked their way into my priorities.

The result is that I pay attention these days, more than ever, to a well built, commodious, power yacht. Having sold our larger sailing yacht, I have been investigating what should be next in the family. I have come to some conclusions!

I must also confess right up front that my eye is particularly drawn to those that have the lines of what most of us call a "down east" style. A low profile, lobster boat lines and slightly less yachty, more working boat look appeal to my nature.

Let me share some of these findings with you and even one or two (if you will permit) of my opinions!

There are many well-built power vessels available on the brokerage market these days.

For the purposes of this article, and reflecting some of my own priorities, I have been guided, (in addition to my prejudice toward my preferred style,) by considerations of quality construction and performance, good or at least reasonable resale value, a strong eye to roominess/comfort and a purchase price of less than 7 figures in US dollars.

I have limited my choice to 10 vessels and must, therefore, of necessity, omit some very good alternatives. I list my choices and comment on them in no particular order.

Are you looking for a downeast style yacht?

Contact David Walters Yachts for expert advice on locating the boat right for you.

Top 10 Downeast Boats  - That You Can Buy for Under $1 Million

The Sabre line has a very solid reputation. Several of these vessels including the 48’ must be a serious candidate when the criteria outlined are all considered. In addition, the brand holds resale value, has well thought out accommodations and several recent design ideas integrated into the traditional look and interior finish. She is large enough to accommodate 2 couples in comfort, each with head and shower. The addition of a captain’s quarters below salon sole allow extra accommodations for crew/family members.

Her expansive foredeck is a great lounging area and her stern cockpit dining table and retractable rear cabin window creates a large outdoor living/entertainment space.

Market offering prices are affected by vessel conditions and options and can vary noticeably depending on the brand and style of the vessel's power. Pros/cons between the Volvo/pod combination, the Cummins/Zeus duo or more traditional straight shaft drives are important considerations here.

• 48’ models on the brokerage market range from 2012 in the mid $600,000’s to very recent models at or just above $1 Million
• Sabre 48 models on the brokerage market range from 2012 models in the mid $ 600,000s to very recent models that can reach as high as $ 1,400,000. There are generally a fair amount of options available, so buyers will have a nice selection to choose from.
• Sabre models in the 40 to 46 size range vary in age and configuration but can be purchased as low as $300,000 for a good quality but older model.
• Search Sabre Yachts for Sale

The Hinckley Company has built a remarkable brand over the years. Their power line includes several vessels in the range of 44’to 55’.

Many Hinckley’s offered on the brokerage market are available at prices which are now more economical, relatively speaking, than at new.

The name brand, the associated appeal to some buyers, the quality of construction and the classic appearance overall, over the decades, maintained their attraction to a segment of the market. For this reason, they are rarely advertised at bargain prices although occasionally examples of this brand come on brokerage, usually due to seller circumstances, at prices which make them within reach of the value buyer.

Again condition, options and maintenance history are always factors. Power plant options are an interesting aspect of these vessels as more and more alternatives become available on the brokerage market, including electronic diesel-jet drive combos.

• 55’ Talaria 2005-6s offered at slightly over and slightly under $1 Million.
• 44' Talaria models, 2003-8, offered at $500-800,000.
• Search Hinckley Yachts for Sale

GRAND BANKS/EASTBAY

The Grand Banks name has been among the honor gallery for pleasure motor yachts for many years resulting in part from its original line of wood, classic trawler style vessels. Brand construction was converted to fiberglass as this material took its place among boat builders. Eventually the "Classic" design was transformed into the more modern East Bay line, keeping of course a "Down East "look. The vessels have a reputation for quality build, sea kindliness, fine finish and have an enthusiastic and substantial following.

One extremely interesting aspect of this brand is the large number of 40-55 ft vessels of both the classic and East Bay version that are available literally around the world. One can buy a GB and start an adventure from most major international yacht centers, a demonstration of their popularity as a brand and proof of how widely known and accepted they are. The variety of models in this size range also allows a purchaser almost any interior configuration that suits and, in a vintage/price point acceptable. 

Grand Banks hold their value well and many of the more popular models are, it seems, always available in brokerage. Newer vintages are now appearing on the resale market with pod drives and seakeepers. The classic line trawlers are numerous on the market and ones in very good condition can be acquired at very reasonable prices.

• 44’ East Bay from $300,000 to about $1M based on model years ranging from 2003-2017
• The larger models, with sizes in the range of 50 ft, are also available for well under $900,000
• Search Grand Banks Yachts for Sale

  WESMAC

The Wesmac brand has a reputation as a very well built, seagoing, commercial grade vessel and as a general statement their pricing reflects that. They are considered my many howeveras not as "yachty" as other brands and tend toward a more serviceable finish and appearance.

The design involves more rear deck working space, with a lobster boat set of lines and not surprisingly less interior cabin space and fewer accommodations than other brands. That said many have been built/converted to yachts, providing owners who wish to spend more time offshore, with sturdy reliable service and less fancy maintenance.

Most on the brokerage market are economical single diesel engine models, although a few twin power do exist. All are straight shaft. Vessels in some lengths are available in fly bridge models in addition to the traditional lobster boat and express design.

Pricing covers a broad range with:

• 1998 36’ traditional lobster boat design at $260,000
• 2008 flybridge model at $800,000
• 2018 46’ for just over $1 Million
• Search Wesmac Yachts for Sale

Bruckmann is perhaps less well known than others referred to here but among those who do know them these vessels garner great respect. Builders of both power and sail vessels, the power line tends to the down east styling and is frankly reminiscent of the Talaria from a distance. The largest power production model is the 40' classic, a few of which do come on the brokerage market occasionally.

They are smaller than the other yachts mentioned in this article (being designed around a single double berth cabin) but with a large, airy salon and rear cockpit deck. Single diesel, straight shaft drives and a very nice interior finish cap off a strong and pleasing looking vessel.

• 2012 Bruckmann 40 version, located in freshwater, low hours, in very good condition, priced at $650000
• Search Bruckmann Yachts for Sale

The MJM line burst upon the power yacht scene some years ago, conceived by a very experienced builder, with several new ideas about what would interest older sailors, moving to power. The result was a line of yachts that could perhaps be best described as a "modern version of the old "Down East". Low in profile, slightly reminiscent of a working fishing boat, bright, airy, open space, soft lines and just a hint of being ahead of its design day. Big on the "deck to interior salon space" concept, with a more compact approach to state rooms, a no wood exterior and a less woody interior, means the MJM has trimmed back vessel maintenance, with an eye to not interfering with cocktail hour. Modern strong materials are used throughout.

She will get you there quickly with the planning hull and lots of power. Speaking of power, and depending upon size, these boats are available with diesel straight shaft or stern drives with some of the newer ones featuring pods (Cummins or Volvo IPS). All come with a joystick for easy maneuvering and a design intended to accommodate shorthandedness.

All this comes, however, with a price!

These vessels are available in a broad range of sizes starting from 30’ (they call it 29z) and growing to 56’ in length (the 53z). The larger versions' pricing, both new and used, will well exceed 6 figures. In order to stay under $1M on the brokerage market, some combination of experience and size must be considered. In my opinion the 36z model (which is 39’ LOA) is probably the minimum size that would allow a couple to cruise extendedly, in some comfort.

• 36z 2012-13 versions offered at about $560,000
• 40z models (LOA 44’) an '09 and an '11, offered between $650,000 - $850,000
• Search MJM Yachts for Sale

LITTLE HARBOR

Little Harbor yachts must be mentioned here, although availability is an issue. They rate extremely high on the price / quality ratio even though new vessel production ended years ago. The Little Harbor is simply a great boat. Most come with the Whisper Jet Drive, but some are available with a diesel straight shaft.

Built for several years by Ted Hood's Company, then constructed overseas, these boats were well designed, well-built and very nicely finished. Although there was the odd one built to 52’ LOA, most of the production line vessels were in the 32’ to 44’ size.

The interior is really designed for one couple cruising, with its single double cabin forward and convertible dinette.

The 42’, 40’and 38’ versions are similar in layout, slightly smaller but of equal quality of course. The Yanmar diesels with shaft or Jet drives, interior yacht finish, a good ride, and a reputation for reliability all produce a beautiful "down east" looking little ship.

Brokerage LH boats, in the range of 15-20 years old, should have their condition and level of maintenance thoroughly verified. Any owner must also know that future care would be very important here. Pricing with these vessels is a very pleasant surprise for this quality.

• 44’ versions are advertised for under $300,000 and go down from there
• Prices as low as $125,000 for the smaller models are available
• Search Little Harbor Yachts for Sale

This venerable American yacht designer and his products are well known to those of us with some miles under our keel. A standout with sail he eventually was in involved in the production of some very fine power vessels.

These again are a line of yachts that, sadly, are no longer produced, but are part of the well designed, well-built genre of yesteryear still available through resale. All construction was, for its day, first class with traditional interior wood finish and a relatively (by todays standard) simple layout.

These vessels are part of American nautical history and as such, most have been exceptionally well maintained, a reflection of the sophistication of their ownership. All are diesel powered with, of course, straight shaft, as was their time. 

• 1999 40’ Express is a one cabin optional layout with Yanmar power, 2600 hours and a very fine finish with impressive maintenance, listed at $375,000
• 2005 49’ Express is also a one stateroom vessel, designed to be very roomy and commodious, both below and in the main salon. The 2 Cummins engines have only 1650 hours on them and the interior is impeccable. She is listed at $540,000
• 56’ Flybridge is a 2 stateroom layout with a roomy fine interior, also apparently well maintained, she is powered by twin Caterpillar diesels, with only approx. 1900 hours on them.
• Search Alden Yachts for Sale

Quality from a few years ago, standing the test of times, at very attractive prices!

Vicem Yachts are built in Turkey by an established company, family owned. They are not as well-known as many other brands in North America but do have traditional "downeast" good looks and a quality build.

Their traditional construction is composite, cross layered epoxy soaked mahogany strips encased with fiberglass mat and resin. They now can build in cored fiberglass, but this is relatively recent and therefore most vessels on the brokerage market are the composite. The joinery is of a high standard and finished in traditional woods. The vessels are all outfitted with world class mechanical, electrical, plumbing, communications and navigation equipment, with buyer choice as to diesel engines, straight shaft or pod drives. They also boast the ability to modify any layout of their production models to accommodate much of what a new buyer may wish to change.

The builder also provides North American warranties and support. One of the great attractions of this line is pricing, both as to new and on resale. The builder can take advantage of local Turkish labor rates to produce, out of the door, vessels at extremely competitive prices, when compared to the other yachts listed in this article.

This has a trickledown effect on prices in the brokerage market. Provided, as with all used vessels, that she has been well maintained, and that in particular, any additions to hull or decks have been done properly to ensure no water intrusion, these boats can be an attractive alternative.

Another advantage is that there are several choices on the brokerage sheets, sometimes at prices which vary greatly, even as between similar sizes. This builder builds production models from about 33’ up to about 70’ with larger vessels currently being custom.

• 2005 54’ at $575,000
• 2007 55’Classic at $580,000
• 2003 51’at $540,000
• A virtually new 2019 46’ Classic is available and could possibly be purchased for about $995,000
• Search Vicem Yachts for Sale

For those of you who appreciate a little Italian flair with your traditional "down east" vessel there is this very stylish option, Rivolta. This line of vessels is designed and built in Sarasota, FL by a family with old country origins. With a deep history in sailing, racing power boats and entrepreneurship, the company principals have developed their range of power yachts with a distinctly European flair.

The hull and superstructure retain the typical lines of their down east sisters but the finish and interior styling trend closer to what we see in many modern vessels from "on the continent." These boats as new are available in a range of sizes, all built with local quality construction, world class equipment and are powered with diesels engines of your choice. Interiors are, in keeping with the overall design approach, less "woody", more bright light/white color and more open feeling than some others of their hull style. These are yachts which are a step out in a slightly different direction, but not so far as to be beyond appeal to a typical "downeast" owner.

Two of their most popular vessels are the 44’ Coupe, a 2 cabin 2 head vessel with room and openness. Some were built with diesel- jet drives, an expansive open rear deck with opening transom and large swim platform. The 40’ Coupe, a 2 cabin 1 head vessel, twin diesel power, comes with all the basic accommodations you would expect from a yacht this size.

• 2009 44’ Coupe with diesels - jet drives at $339,000
• 2012 44’, straight shaft diesels, at $360,000
• Several 2005 41’ Coupes at about $225,000
• Search Rivolta Yachts for Sale

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Used Yachts For Sale $1,000,000 – $5,000,000

Listed below are used yachts for sale worldwide from $1,000,000 – $5,000,000. 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, express cruisers, center consoles, sailboats and everything in between. Search top brands like Horizon, Broward, Azimut, Ferretti, Sunseeker, Princess, Hatteras, Viking, Grand Banks and much more. Need assistance? Contact our experienced yacht brokers. We look forward to helping you find the yacht that's right for you.

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If you're looking for a pre-owned yacht for sale between $1 million and $1.5 million, 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 $1.5 million dollars online include brands like Azimut Yachts , Bertram Yachts , Ferretti Yachts , Galeon Yachts , Hatteras Yachts , Prestige Yachts , Sea Ray , Sunseeker Yachts , Viking Yachts , and more! From New York, to Florida, and beyond, SI Yachts can assist you in the purchase or sale of a boat under $1.5 million. 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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10 Yachts for Sale Under a Million

Buying a pre-owned yacht offers the advantages of immediate availability and reduced cost compared to commissioning a new yacht. Also, the negotiation process saves money.

A luxury yacht that is already on the water also has a track record and charter history, which can be factored into your purchase decision. An existing vessel offers you the opportunity to refit her to your taste and needs, which is both faster and more cost effective.

We have selected for you our 10 yachts available for purchase for less than one million euros.

Catamaran Lagoon 620 : the comfort of a hotel for less than 1 million Euros

VPLP designed this luxury catamaran and paid particular attention to the details that make life on board a pleasure. A large number of windows brings natural light into every room; her large flybridge offers a 360° view and ample space for relaxation.

The Lagoon 620 is also the ideal boat for private crewed charter cruises. This catamaran is in a 6 cabin version, the future buyer should plan to add the necessary options to allow a suitable level of service for luxury charter. Our brokers will be there to advise you accordingly.

Fountaine Pajot MY 44 catamaran: a 44′ yacht for sale for 900K€

A motor yacht in perfect condition, designed for long and extended cruises while remaining comfortable in hers 20m² salon, a fully equipped kitchen, a master suite with a large flat screen TV, not to mention hers 12m² flybridge that offers a breathtaking 360° view.

With her volume and level of finish, the Foutaine Pajot MY 44 can easily compete with monohulls of 15 meters and more.

All options and in perfect condition, this MY 44 is an opportunity not to be missed!

Nautitech 47 Power : less than 1 million for the combination of comfort and speed

Careful and comfortable interiors. Large portholes surround the yacht and bring natural light into the large salon to enjoy a 360° view.

Hers XXL flybridge offers exceptional moments of relaxation with a large solarium, a lounge area with a bar and a steering position. The lines of the hull are optimized for a perfect finish, stability and comfort at sea whatever the speed.

The best finishes have been brought to the interior of this Nautitech 47 Power for an even higher quality. The proposed unit is in excellent condition!

Privilège 585: a best seller yacht for sale for less than a million

Comfortable and elegant, this magnificent catamaran is suitable for cruising in the Mediterranean or in tropical waters.

She has all the amenities of a modern cruising catamaran with the highest standards for safe, comfortable and relaxing cruising. Her interior is fully air-conditioned and has stylish beechwood furnishings and contemporary luxury, all with a magnificent panoramic view.

Built in 24 units, the PRIVILEGE 585 has established herself as a “Best Seller” in terms of build quality, finishing touches and cruising usage.

Fountaine Pajot Queensland 55: a stable yacht for sale at less than 1 million

Built on the experience gained with the Cumberland 46, the Queensland 55 has everything you could want in a boat. Indeed, she has a huge salon, which combines dining room, kitchen and navigation room, a deck, a large flybridge, spacious cabins and lighting that creates a refined atmosphere.

Capable of sailing at an impressive speed, it is a real pleasure to maneuver this Queensland 55 .

Beneteau Oceanis 62 : a sailing yacht for sale below 800K€

First born of the range, the Oceanis Yacht 62 opens the door to a new art of sharing magical moments at sea. She is designed to be reassuring, balanced, maneuverable and elegant.

She is organized around a spacious saloon and private areas, bathed in light from the huge hull portholes.

This Oceanis 62 with hers luxurious design offers noble materials and exclusive cabinetry finishes.

Lagoon 50 catamaran : a sailing catamaran for less than 700K€

This new yacht comes between the unavoidable Lagoon 450 & Lagoon 52. She is the seductive option for sailors looking for a large and modern marine boat.

Thanks to hers new visual identity, hers new rigging, she offers increased performance with a unique signature.

Hers large living spaces and hers panoramic vision are more than ever highlighted on this Lagoon catamaran 50 . This brand new catamaran will need to be customised with the options of your choice. Our sale brokers can give you tips on the best ones to had for an optimal charter revenue.

Lagoon 570 : space, luxury and comfort for sale at less than 600K€

She is one of the best Lagoon ever designed for those seeking balance of space, luxury, comfort and performance.

This yacht is the perfect travel vessel for an adventurer or a family. The hull is relatively slim, the bows are slim which allows her to sail smartly even in light breezes.

This Lagoon 570 was originally owned by Mr Yvan Beneteau. She has therefore benefited from a particular attention from the shipyard with carbon reinforcements in the beams for example.

Beneteau First Yacht 53: a performance sailing yacht for less than 500K€

This unit has been designed for the discerning owner and connoisseur for luxurious performance. The hull and helm balance provide a unique feeling, the circulation is fluid, the interiors are both marine and modern.

With the First Yacht 53 , the new First generation is on its way!

Lagoon Catamaran 440 : the affordable catamaran for sale at less than 400 K€

The architects added on this yacht the latest technological developments of cruising multihulls. At first glance, it is obvious that great care has been taken in hers design: the lines are long and elegant, the shapes are dynamic, the spaces are cleverly used and the ergonomics are optimal.

The salon is a superb living space and offers a 360° panoramic view. The large windows in the hull of this Lagoon 440 bring a lot of natural light and offer an unparalleled view of the outside world while remaining discreet.

Read also : Buying – Selling a yacht

There are many boats for sale on the market and you should find yours! If you haven’t found yet what you were looking for, do not hesitate to contact our team of professionals who will help you in your research.

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 Larry King’s Widow Finally Settles $100 Million Lawsuit Amid Shocking Claims

Strike hard, earn big: the cast of cobra kai ranked by net worth, havana nights, hollywood lights: inside camila cabello's multi-million dollar success, quick links, 10. chrysanthe s, $1 million, 9. sentimental journey, $975,000, 8. clarissa, $884,000, 7. mr. ed, $875,000, 6. grand cru, $870,000, 5. trilogy, $809,000, 4. sunseeker manhattan 52, $808,000, 3. 107-foot admiral, $612,000, 2. balboa, $595,000, 1. canados, $503,000.

There's no greater symbol of absolute welfare than a giant, fancy, and luxurious yacht. Yachts are the ultimate toys when it comes to exotic entertainment and relaxation. Over the last decades, the richest people in the world compete in the most extravagant and fastest yachts in the world. However, this all comes at a jaw-dropping cost. Besides the enormous price of the yacht itself, here are splashing maintenance costs to consider. For example, a $10 million yacht costs around $1 million a year to maintain. The larger the vessel, the more expensive to keep.

There are a lot of things you can buy with $1 million, and one of them is your own yacht. Over the past years yacht owners started an abundance of price cuts when they decided to sell their sea monsters, all for under $1 million.

What better way to spend your holiday or have a party or wedding than onboard your own private yacht? You don't even need to drop millions to do it either. Don't expect a high-end large-scale yacht like the ones billionaires own, but a small and intimate entry-level yacht that offers the same comfort and luxury for less money, which works just as fine when splashing into those waves. Have a look at our list of affordable luxury yachts that are by no means any less fabulous than their big brothers owned by billionaires. In fact, with years of experience in cruising the oceans of the world, they have a personality of their own.

Yacht prices continue to drop as we speak and Chrysanthe S makes no exception. It dropped from $1,22 million to $1 million and may continue to drop still. Built in 2009 by Overmarine, Chrysanthe S underwent a full refit in 2006. It can accommodate seven guests in three cabins. There is a master VIP cabin, equipped with a king size bedroom, a VIP stateroom, plus two twin cabins. Latest technology, great performance, and leisure are what best describe Chrysanthe S. It may be only 79 feet in length, but it is definitely the luxury yacht everyone dreams of cruising on.

Built in 1983 by Lloyds Ships Holdings, Sentimental Journey is a 112-foot aluminum-built motor yacht. The elegant interior is the work of Hampton Interiors and was designed to be both comfortable and luxurious. It can accommodate 12 guests and 6 crew members. Equipped with twin Gardner engines generating 250 horsepower each, it cruises at nine knots and can reach a maximum speed of 10 knots, making her the perfect vessel for long and relaxing cruises. Sentimental Journey underwent major upgrades in 2009 when it was refitted by Delta Marine.

Built in 1977 by Poole Chaffee, Clarissa is a 104-foot aluminum-built motor yacht. In 1999, All American marine purchased it and added 16 feet to the original structure. Clarissa was also refitted and repainted. Throughout her lifetime, the yacht has had a full-time crew and underwent regular maintenance, which ensured safe long cruises. In fact, she safely crossed the Atlantic from America to Greece in 2008. Among its unique features, Clarissa has an elegant main deck with both an open and a glass-enclosed aft deck, as well as a massive flybridge, which make her the perfect vessel to entertain your guests on. What's even better is that for $884,000, Clarissa is also economical, burning 20 gallons per hour with her twin Detroit Diesel engine generating 650 horsepower.

Built in 1991 by Maiora, an Italian yacht firm, Mr. Ed is a 97-foot motor yacht that underwent a full refit in 2009, meaning that it is just as ready to set sail as it was when it first came out of the factory. Powered by a Detroit Diesel 16V92TA engine, it can reach a cruise speed of 18 knots and a maximum speed of 22 knots. Mr. Ed can accommodate eight guests and three crew members. The master bedroom is equipped with a twin bed, its own bathroom with a jacuzzi tub, and is accessed through a private staircase directly from the main salon. There are also a VIP room with queen bed and ensuite bathroom, as well as two twin staterooms.

Built in 1984, Grand Cru measures 105 feet in length. The aluminum-built motor yacht boasts a classic elevated pilothouse, a very attractive feature for just $870,000. Grand Cru underwent major upgrades several times, in 1995, 1998, 2000, and 2010, which ensure the quality of the engine and furnishings. New teak decks were installed in 2005 and the vessel was fully repainted in 2011. Grand Cru can accommodate six guest in three staterooms. Among its distinctive features, there is an enclosed aft deck equipped with air conditioning, a massive flybridge, and a cockpit.

Built in 1990 by Tempest Marine, Trilogy is a motor yacht measuring 104 feet in length. It is listed for a great price, just $809,000 for a fast and spacious luxury yacht. In 2005, Trilogy underwent a full upgrade, and was entirely refitted and repainted. Trilogy received a hull extension, new air conditioning systems, upgraded electrical systems, as well as newly furnished teak decks. It can accommodate eight guests in four cabins. Among its most attractive features, it boasts naiad stabilizers. Equipped with twin Caterpillar engines generating 1,000 horsepower, Trilogy can reach an incredible speed of 32 knots.

Built in 2008, the Manhattan 52 is one of the most successful models Sunseeker has to offer. It may be only 52 feet in length, but it is nevertheless luxurious. In fact, Sunseeker manhattan 52 is the perfect example of a lightweight pocket yacht that can reach great speeds, taking cruising to a whole new level. Equipped with twin Volvo 800 engines generating 1,600 horsepower, it can reach a cruise speed of 23 knots and a maximum speed of 32 knots. It has three cabins, two heads, and a crew cabin.

Melitas Marine is selling a 107-foot Admiral yacht for just $612,000, a relatively low price for a classic luxury yacht that puts a whole new meaning to leisure. Built in 1974, the 107-foot Admiral was fully refitted, renovated, upgraded, and repainted in 2009, preparing it for long voyages. Equipped with twin MTU engines generating 1,960 horsepower, it can reach a cruising speed of 18 knots and a maximum speed of 20 knots. The 107-foot Admiral can accommodate 10 guests in five twin staterooms, plus six crew members.

A motor yacht that is quite big for the price, Balboa measures 138 feet in length for just $595,000. It was built in 1989 by Maaskant Shipyards as a North Sea trawler. Its current members began upgrading the trawler in the hope of converting it to a world-class super-yacht, but decided to interrupt the process and sell the Balboa. Much of the work has already been completed and the Balboa is waiting for someone to simply finish the job. Equipped with a single Deutz engine generating 2,000 horsepower, with a range of 5,000 nautical miles, Balboa is the perfect expedition yacht, spacious and reliable.

Melitas Marine listed this gorgeous 98-foot luxury motor yacht for just a little over half a million dollars. Canados was built in 1987 and was fully renovated and refitted in 2004, making it the best affordable luxury yacht to take out to sea today. The stylish yacht has a hull that is covered entirely in wood and can accommodate between 8 to 10 guests in four spacious cabins, plus a crew of 5 to 6 members. Equipped with twin MTU engines generating 2,000 horsepower, Canados can reach a cruising speed of 24 knots and a maximum speed of 28 knots. The master bedroom boasts a splashing king size bed, while the VIP bedroom comes with a queen size bed. There are also two guest cabins with Pullman Berth. Among its distinctive features, Canados is equipped with auto pilot, has a Kawasaki jet ski, plus scuba diving and snorkeling equipment, it can offer banana rides, while its large flybridge is excellent for entertaining guests.

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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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