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Luxury Yachts Fact Sheet
A superyacht (or super yacht, or mega yacht) is a large and usually, privately-
What does a Yacht cost?
A Luxury yachts generally cost more than US$ 10 million, although the most expensive can stretch to several hundred million dollars. Eclipse, owned by Roman Abramovich, is thought to be the most expensive superyacht, and is rumored to have cost more than a billion US dollars. (The actual build price, will probably have been considerably less, around US$ 500 million.)
They are owned by the Richest People on Earth
Most luxury yachts are owned by extremely wealthy individuals. For example someone who purchases a US$ 10 million yacht, will probably have to have a net worth of more than US$ 20 million, as he will not want to spend all his money on a boat. The larger superyachts (longer than 80 meters or 260 feet) are invariably owned by billionaires.
The Running cost of a Yacht
The yearly running costs of a luxury yacht (including crew, maintenance, insurance and fuel) roughly account for 10% of the build price, or US$10 million a year on a US$100 million vessel. It seems smarter to charter a yacht….
Nowadays the largest yachts are owned by Arabs or Russians. The biggest yacht in the world is Azzam (180 meters/590ft) built for the Emir of Abu Dhabi. The second largest is Eclipse (172 metres/564ft) owned by the Russian billionaire Roman Abramovich. Abramovich currently has two yachts: Eclipse and Sussurro (although Sussurro is rumored to be owned by his ex-
The largest Yacht by Volume (or gross Tonnage)
The largest yachts are not necessarily the world's longest. One of the largest boats measured by volume is Al Salamah. Built for Prince Sultan of Saudi Arabia, it was put up for sale in 2012 (after Prince Sultan died) with an asking price of EUR 250 million (US$350 million). The new Dilbar, built for Alisher Usmanov also seems to be one of the largest yachts in the world. The largest sailing yacht will be ‘Sailing Yacht A’, under construction for Russian billionaire Andrey Melnichenko. The longest yacht is Azzam.
One of the most modern is a yacht called, simply, A that was built for the Russian billionaire Andrei Melnichenko. Another very modern boat is YAS, a 140-
The most famous of them all is probably the yacht Kingdom 5 KR owned by Prince Al Waleed bin Talal (a cousin of the King of Saudi Arabia). It featured in the James Bond movie “Never Say Never Again”. The members of the Royal Family of Saudi Arabia own dozens of yachts.
Superyachts are often purchased by UHNWI or Ultra High Net Worth Individuals. A UHNW is some one with net assets over US$ 30 million although some experts calculate with an amount of US$ 50 million. It is estimated that the world population of UHNWI is around 200,000 individuals. Around 5% of these UHNWI, or 10,000 individuals, own or frequently use a superyacht. The mean net worth of a superyacht owner is estimated at US$ 680 million, a figure no doubt influenced by the relative high number of billionaire Russian yacht owners. The average age of a super yacht buyer is estimated around 65 years.
Famous Yacht Owners
The most famous UHNWI yacht owners include Roman Abramovich and Larry Ellison. US Presidential candidate Donald Trump has been owner of the yacht Trump Princess, while the world’s richest man Bill Gates does not own a yacht. He owns a large house though, watch Bill Gates’ house here.
The Yacht Industry
It is expected that the amount spent on superyachts worldwide, is increasing 25% the coming 5 years. There is a trend towards expedition yachts, in stead of (fast) displacement yachts, but also new built yachts seem to grow bigger over the years.
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