Superyacht Sales Soaring for the 0.1% While Inflation Ravages the Other 99.9%


WATCH: Sanctioned Russian Billionaire’s Yacht Sails to Hong Kong” />

According to Fraser, 30% of clients are coming to yachting for the first time, and many of these newcomers will eventually want to own their own boat.

Shipyards building new superyachts, mostly in the Netherlands and Germany, say they’re busier than ever. Even those known for building vessels for Russian clients were out in force in Monaco. 

Germany’s Luerssen has built several superyachts linked to Russians whose assets are now frozen by western authorities, including the world’s largest by volume, the 156-meter Dilbar, owned by a trust linked to Russian billionaire Alisher Usmanov. But Luerssen’s stand was buzzing with people as a saxophonist played nearby on one of its tenders — a support craft to a superyacht.  

Read more: Luxury Yachtmaker to the Oligarchs Asks Who Its Customers Are

Jan-Bart Verkuyl, the CEO of Dutch superyacht maker Feadship, which is in the middle of building its biggest-ever such boat — a 118-meter vessel called Project 1010 — says that although the industry can no longer do deals with any Russian, the market’s so bullish that he’s not worried.

“If you look at the Forbes list, that’s only grown even if you take out the Russians,” he said. “In principle, if we do our jobs well, there should be enough clientele.”

(Adds details of Formula 1 racer’s purchase of a yacht in 13th paragraph.)

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©2022 Bloomberg L.P.


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