duPont REGISTRY Covers a Decade of Super-Yacht Trends
Vibrant magazine captures high-end yacht market evolution.
ST. PETERSBURG, Fla. — As the duPont REGISTRY(trademarked) A Buyers Gallery of Fine Boats celebrates its 10th anniversary, the team of experts at duPont Publishing salute the booming super-yacht business by revealing a decade-long survey of the trends that have emerged in the industry.
When the inaugural issue of the duPont REGISTRY A Buyers Gallery of Fine Boats went to press in 1996, the average length of a super-yacht (defined as any vessel more than 80 feet long) was roughly 135 feet. Ten years later, the average length is 220 feet with a handful in the 300- and 400-foot range. A 525-foot behemoth is rumored to be in production.
Despite an average price tag that has nearly doubled, from $15 million in 1996 to $28 million today, the number of super-yachts on the ocean has also jumped from 2,200 to almost 6,000. Once the yacht has been bought, the costs begin to mount as it takes an estimated 10 percent of the purchase price to maintain the vessel each year. So a $28 million boat would take roughly $2.8 million per year to maintain, including a captain, crew, fuel, insurance and all other expenditures.
"When we launched the publication, yacht owners were just beginning to customize their vessels' interiors," says duPont REGISTRY publisher Tom duPont. "The market has evolved and we have found, over the past 10 years, the focus of the booming yacht market, like so many other luxury industries, has veered toward customization. We're witnessing a race develop to see who can build the most opulent floating mansion."
For luxury yacht owners, having the largest boat with the most incredible decorations, high-tech security and mobile offices is a necessity. Besides the finest-quality sofas, beds, tables, artwork, and hot tubs, some owners have even installed waterfalls in their living rooms and bedrooms. Other additions include indoor swimming pools, movie theaters, basketball courts, helicopter pads, hideaway plasma-screen televisions, satellite TV, full wet bars, dance floors, elevators, lobster tanks, and wine cellars. By including every amenity found on land, owners have created a new floating villa.
The duPont REGISTRY A Buyers Gallery of Fine Boats has observed that with advances in satellite and Internet communications, more owners such as Microsoft co-founder Paul Allen, Oracle founder Larry Ellison, Russian oilman Roman Abromavich, billionaire investor Ron Perelman and former Progressive Insurance CEO Peter Lewis, are installing fully functional offices. While time at sea is considered vacation for most, the men and women whose wealth was built through business use their yachts to stay on top of their fortune and entertain potential and current clients.
The customized interior designs and high-profile occupants of today's yachts can attract burglars. To safeguard against any type of threat, some owners have acquired the most advanced security measures available.
At the most advanced edge of the security spectrum is anti-aircraft and anti-missile systems. Other owners have installed medium-sized submarines that will launch from within the haul and provide continuous security, an electrified fence system that prevent anyone from boarding, and a Long Range Acoustical Device (LRAD)?a non-lethal sonic weapon that emits a tone well above the normal human threshold of pain to prevent anyone from getting near the yacht. Some owners will employ trained guards to stay aboard their vessel, while many owners, opting for more privacy, hire armed escort boats to accompany their ships on all voyages.
"Even with increasing fuel prices and a fluctuating global economy, indicators point to a growing super-yacht market that shows no signs of slowing," duPont says. "This market segment continues to gain strength because buyers at this level are generally insulated from dramatic changes in the stock or commodities markets. This is truly a golden age for luxury yacht owners."
The 10th anniversary issue of the duPont REGISTRY A Buyers Gallery of Fine Boats provides affluent enthusiasts with a unique forum to shop for the ultimate in luxury marine craft, waterfront properties, custom boating amenities and assorted lifestyle products. It is available on newsstands now.