Superyachts For The Super Rich

A superyacht is undoubtedly a floating symbol inordinate wealth, a sure mark of the grossly successful. On average, the richest of the population shell out an average of $3 billion a year on superyachts, massive crafts fitted with numerous amenities, akin to buoyant hotels.

Superyacht Sales Are Going Up

Getting down to the nitty-gritty of the superyacht market shows us that yacht buying truly is a limited, top-tier market. 2018 thus far has been a good year for yacht purchases, with a total of 300 sales through mid-October. Comparatively speaking, last year was behind, as 2017 saw merely 249 superyachts sold.

While the numbers may be up in yacht purchases this year, the actual values of the yachts themselves rarely appreciate. So, what drives the industry? According to William Mathieson, the editorial and intelligence director at the Superyacht Group, it’s “a ballpark 1,500 to 2,000 serious ultra-high-net-worth individuals…. Guys who will buy a boat, trade on the secondhand market, then buy a bigger boat…”

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Maintaining Superyachts Is Very Expensive

Come to think of it, $3 billion a year is pennies considering the costs of supporting a superyacht lifestyle. Investing in these seaborne vessels includes shelling out the cash to operate them—fuel, maintenance, the supporting crewmembers, and not to mention the varies toys that a true superyacht can store like Jet Skis, speedboats, or small submarines.

Essentially, one does not “invest” in a superyacht. On estimate, superyacht owners wind up paying around 10% of the initial purchase to support the annual runnings of their new seaworthy palace.

Aside from the fueling, maintenance, crewmember costsfor those who work remote jobs, and whatever water-based vehicles your yacht is able to house, there’s also the expense of seasonal mooring fees. Exclusive marinas can freely charge you upwards of $3,000 per night during their busy seasons. It’s a delicate balance between the desire to enjoy the sumptuous new purchase to carefully considering its extravagant costs of utilizing it. many owners are choosing to rent them out for days or weeks at a time to recoup some of their investment.

But this hardly stops the richest of the rich, as the 25 most expensive superyachts rack up an accumulated market value of $7.5 billion, according to a valuation service called VesselsValue. If you have the money and the desire, go ahead and buy a superyacht, but don’t expect to see its value appreciate.

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