Inside the secret world of Superyachts
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Loading...For 70 years, Fraser have been one of the biggest names in boat brokerage. With 13 offices around the world and 150 staff, if you are in the market for a superyacht, you call Fraser. In our case, we called Maarten Ten Holter, who has been in the yacht brokerage business for 28 years. From his office in Monaco, he took us inside the high-end ultra-luxe world of the superyacht... and now we don't want to leave.
"Superyacht" or "megayacht" used to mean yachts of 24 metres and over in length. But now this is shifting to 30 metres and over. "Giga-yachts" is the next step up. There is no set category for this, but I’d say it was anything over 100 metres.
Regarding the price, from US$1million (£772m) up to $200million (£155m). We recently had a 107-metre yacht called Ulysses for sale at $195 million (£150m). It has been listed since September 2016.
All the major brokers use the following percentages. They are not written in stone, but they are a guideline: the commission over the first $10million is 10 per cent; for $10million to $20million it’s 5 per cent; over $20million it’s 2.5 per cent. But you should be aware that for a lot of transactions there are more brokers involved so commissions are often shared or renegotiated.
What kind of people own these boats?
You have the really discerning yachtsman who has been sailing all his life, has been extremely successful, and is in a position to buy himself a yacht. Then you have the nouveaux riches who made money overnight and think: "I already have an aircraft and three houses, I also need a yacht as a toy or status symbol." Our clients have wealth through inheritance, or through real estate, the tech industry, the financial industry... anything you can think of.
Extravagant features include infinity swimming pools with overflow and jet streams so you can swim against the current. Helicopters might be considered extravagant or extreme but they also serve a safety purpose. Yachts have jeeps aboard them. They also have speedboats aboard: the transom hatch opens to reveal a little bay; the boat drives in and you close the transom door and pump out the water. The speedboat comfortably sits inside.
What about in terms of interiors?
Yachts have cinemas, spas, health suites, massage salons – anything you might find in a luxury five- or six-star hotel. The interior finish is a determining factor in the price of the yacht: gold-plated faucets, exotic marble, expensive wood interiors.
What is the strangest thing you've heard about?
"Well, there is one large yacht and on the deck they have planted trees in huge pots for the owner’s little doggy to do his daily business. Lucky dog. He doesn't have any problems in the middle of the ocean with what he needs to do."
We are seeing new hybrid and electric propulsion systems for yachts. More and more yachts are using Kevlar and carbon fibre to save weights. The sails are moving to Kevlar which is much more efficient. There are new hull designs. A lot of motor yachts are built with longer waterlines. And you have inverted bows.
We see yachts getting even larger. The largest right now [Azzam] is about 180 metres. I don't necessarily see yachts over 200 metres but I do see the average length increasing. The 70-metre yacht is the new 40-metre yacht. I can see hull designs becoming more daring and more efficient, more daring. The yachting industry has been extremely traditional for a very long time, but things are changing so fast. The owners are younger. IT billionaires, for example, might be only 35 years old which means they are willing to push the envelope. They might drive a spectacular car, and they like daring designs, and they don't want to own a yacht like their grandad’s.
Source: GQ
Jr Trader Alexander Kumanov
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