Before we start, a little reminder:
A bareboat is a unit that is chartered with no crew at all. The charterers are entirely in charge of the boat, including provisioning, for the whole duration of the cruise.
A crewed boat operates only with a professional live-aboard crew, a skipper and a cook or chef, usually a couple, and, typically, has many more creature comfort than an equivalent bareboat.
If you are vacillating between bareboat and crewed yacht ownership, this section will help you define the main pros and cons of each option, both being in the configuration of a managed charter fleet, and within a range of 45 to 60 ft. boats. This section does not debate ownership of a privately managed crewed vessel, usually a larger unit the management, the economics of which are completely different.
In the Caribbean, 2 charter companies are offering that kind of management: Dream Yacht Charter and The Moorings. Some other small companies offer the service, but less comprehensive as the 2 big ones.We will first highlight how the management contracts differ between those charter companies.
We will then outline the differences, bareboat vs. crewed, between two vessels that are either identical, or within the same base price range.
Basically, one company, Dream Yacht Charter, manages the boat's marketing, bookings and administration on the owner's behalf, but the latter pays all expenses presented to him by the company. The company is compensated by a commission ratio on the charter bookings. Dream Yacht Charter also offers a particular program called the Active Yacht Ownership with potential tax benefits for US residents.
The Moorings on a more "turnkey" basis, with very little involvement from the owner, if any
In all cases though, the buyer will acquire the boat from the charter company itself, which acts as a dealer for the purchase.
Once we have determined that the base prices are in the same neighborhood for a bare boat and a crewed one, in reality, an identical crewed boat will be more expensive to purchase. In effect, in order to do the charter work within the parameters of the industry, the boat needs to be fitted with a lot of additional equipment, most of it being items of comfort.
A few examples: Mandatory air conditioning system (a major marketing element in the Caribbean charter industry); a generator and a water maker; streaming, wi-fi etc., "toys" like a windsurf, kayak, snorkeling or even a scuba diving equipment; larger dinghy with sometimes a bigger engine for water skiing; upgraded navigation electronics and sound system; several sets of bedding equipment, linen, towels; full sets of silver/glassware; complete cooking equipment, toaster, coffee machine; etc. The list can be very long, but will vary significantly depending on the level of luxury the boat will be chartered at.
Note: If you choose a Charter Company offering a turnkey solution, your boat will be delivered with all the necessary extra-equipment already on board and installed. However, there will be no customization possible.
Crewed boats earn more money per week than identical or equivalent sized boats, which one can easily understand. But they also can bring more income altogether than a bareboat because they will not necessarily work a lesser number of weeks. For example, a Caribbean based catamaran in the 48ft.-55ft./$12,000-15,000 per week range, can easily work 20 to 25 weeks a year. The financial impact of this point here is significant.
Interestingly enough, an owner can sometimes learn a lot while cruising with a professional skipper. If you are lucky enough to have on your boat a very experienced captain (some of them have crossed oceans or even circumnavigated) you can benefit a lot from his/her knowledge of seamanship. At the very least, you and your kids will hear great passage and cruising stories!
I belong to that category of sailors with a very humble approach of the elements, and I believe there is always something new to learn about sailing, and/or about the sea and its environment. I was fortunate enough to have an exceptional captain on our family boat for almost 3 years, and although a licensed captain myself, the amount of knowledge I acquired from him was tremendous.
Unless you are a very experienced sailor yourself, you will have a tendency to cruise in the geographic area where your boat is based. A professional skipper will allow you to travel farther and take your boat places you might not have been able to go to alone, and in probably safer and more comfortable conditions. This is another opportunity to learn and experience even more.
And even if you are a seasoned yachtie, it is comforting to cruise far, knowing there is another pair of experienced hands on board.
Lastly, a full crew is great when, once in a while, you just want to relax and do strictly nothing on board your boat. A few examples: You won't have to wake up 3 or 4 times during the night to check on your anchor, as I do. Or your wife and yourself will not have to do the cooking and the dishes every day. It is not something easy to imagine when you have bareboated all your life, but it is very enjoyable sometimes. And you can get used to it very quickly.