The world’s super rich have spent more than £1 billion on superyachts since January in what has been a vintage year for the industry, according to luxury lifestyle publisher Boat International.
Sailing away from Covid-19 restrictions and self-isolating in style, superyacht sales have been on the rise since last summer with the publisher declaring this upward trend as the hottest sales streak on record.
Any vessel over 24 metres in length and needing crew members on board is classed as a superyacht, but these are tiny compared to the largest one, spanning up to 180 metres in size. Having so much space to play with, owners can personalise them however they wish, decking them out with the latest facilities, such as spa pools and gyms.
Paying millions to avoid lockdown
According to Boat International editor-in-chief Stewart Campbell, yacht owners simply “did not want to go near land” during the pandemic. Despite even the smallest superyachts costing between €1m and €5m (£860,000 to £4.3m) second-hand, the wealthy have invested their money and paid millions to escape Covid lockdowns and travel restrictions.
If this surge continues, Boat International believes this year will be the biggest yet in terms of second hand sales.