Tuesday, November 05, 2013
WHAT DEFINES A YACHT
Technically a yacht is 50’ – 80’ in length. A super yacht is 80’ and over. But you can call just about any sail boat a yacht and few would object.
There are 4500 super yachts worldwide and 2000 are in North America or visit North America over the course of the year in what is a 6 billion dollar industry employing 28,000 people. Doesn’t really seem like a lot does it when so many are concentrated in Fort Lauderdale and Miami. It seems odd that good used super yachts around the 100’ mark can be had for well under a million while new yachts in the 300’ and up range skyrocket exponentially in price up around the 300 million dollar area. It’s one thing if you have the coin to buy a super yacht ... and it’s another to afford it on an ongoing basis. Maintaining a super yacht in Bristol fashion typically costs about 10% of the yachts value per year. And guess why there are so many used yachts around at fraction of their original value?
Azzam at 590’ is said to be the largest super yacht in the world and costs $500 million dollars (give or take) to build. It is owned by a middle eastern billionaire. Azzam took over as the biggest yacht from Russian billionaire Roman Abramovich who owns the 533’ Eclipse. Not a lot of ports that can take a 500’ + superyacht at the docks. Not so nice when the only space available in a port is with the cargo ships. Oh well, we can always anchor out and take one of the 50’ runabout yacht tenders to shore.