super yachts 60million+

[NDA]

CoolHands said:

Maybe I’m missing something but why do these boats appeal to rich people? Surely you could get the same service (staffed) and luxury surroundings in various mega expensive hotels? So what’s the point? Being a few hundred feet out of port / off a private beach doesn’t appeal to me, even swimming in the sea isn’t all that.

I can't imagine the lifestyle to be honest, it's way beyond anything I've ever done. However, I would see it as moving your luxury home, a home that you've created and one you like, to various exotic locations. Without the hassle of 'normal' travel, being around people you don't know etc. As above - privacy.

[mikeiow]

NDA said:

CoolHands said:

Maybe I’m missing something but why do these boats appeal to rich people? Surely you could get the same service (staffed) and luxury surroundings in various mega expensive hotels? So what’s the point? Being a few hundred feet out of port / off a private beach doesn’t appeal to me, even swimming in the sea isn’t all that.

I can't imagine the lifestyle to be honest, it's way beyond anything I've ever done. However, I would see it as moving your luxury home, a home that you've created and one you like, to various exotic locations. Without the hassle of 'normal' travel, being around people you don't know etc. As above - privacy.

We got to go on a “work club” trip over 20 years ago….on the WindStar, a huge 4 sailed yacht catering for about 70 of us. Truly luxurious, and a real treat.
Set off away from the sunset from Barcelona, across to Italy…stops with time to explore Florence, Portofino, ending in the harbour at Monaco for a day, with a gala dinner at the Monte Carlo Sporting Club.

It was a crazy experience….& I can see why those with considerably more money than you or I would enjoy that as part of their lifestyle. No prying cameras, no tabloid hacks moving in for a scoop. Weather looks better round the coast? Head over there!
I hate the idea of the huge cruise liners….but the smaller ones….well, I think they are another matter!

[LimaDelta]

M5-911 said:

CoolHands said:

Maybe I’m missing something but why do these boats appeal to rich people? Surely you could get the same service (staffed) and luxury surroundings in various mega expensive hotels? So what’s the point? Being a few hundred feet out of port / off a private beach doesn’t appeal to me, even swimming in the sea isn’t all that.

Privacy.

Yes. The value is the privacy and security. Having complete control over who has access to you and your family. Something no shoreside facility can realistically provide. These people do not live normal lives. A previous boss of mine booked out an entire Disney park for a child's party. Think about that for a moment.

[NDA]

mikeiow said:

We got to go on a “work club” trip over 20 years ago….on the WindStar, a huge 4 sailed yacht catering for about 70 of us. Truly luxurious, and a real treat.
Set off away from the sunset from Barcelona, across to Italy…stops with time to explore Florence, Portofino, ending in the harbour at Monaco for a day, with a gala dinner at the Monte Carlo Sporting Club.

It was a crazy experience….& I can see why those with considerably more money than you or I would enjoy that as part of their lifestyle. No prying cameras, no tabloid hacks moving in for a scoop. Weather looks better round the coast? Head over there!
I hate the idea of the huge cruise liners….but the smaller ones….well, I think they are another matter!

Nice. I think I'd like it.

A few years ago I had fairly regular access to a private jet - I did around 6 flights in one year... Paris for lunch, Spain for golf. I got used to it in about 2 seconds. 'What time is the flight leaving?" "When can you get here?"

[Bonefish Blues]

NDA said:

mikeiow said:

We got to go on a “work club” trip over 20 years ago….on the WindStar, a huge 4 sailed yacht catering for about 70 of us. Truly luxurious, and a real treat.
Set off away from the sunset from Barcelona, across to Italy…stops with time to explore Florence, Portofino, ending in the harbour at Monaco for a day, with a gala dinner at the Monte Carlo Sporting Club.

It was a crazy experience….& I can see why those with considerably more money than you or I would enjoy that as part of their lifestyle. No prying cameras, no tabloid hacks moving in for a scoop. Weather looks better round the coast? Head over there!
I hate the idea of the huge cruise liners….but the smaller ones….well, I think they are another matter!

Nice. I think I'd like it.

A few years ago I had fairly regular access to a private jet - I did around 6 flights in one year... Paris for lunch, Spain for golf. I got used to it in about 2 seconds. 'What time is the flight leaving?" "When can you get here?"

That's the thing I envy, for sure.

[NDA]

Bonefish Blues said:

That's the thing I envy, for sure.

Quite a costly thing to own - but incredible. I remember the Paris trip was amusing because the private runway seemed to be right in the middle of Paris - no idea where it was, but it was only a short limo drive from the lunch. I took off and returned from Farnborough (my choice, was offered anywhere) which at that time was an easy drive to my house.

The jet could probably seat about 12, most times it was just me, leather, walnut, alcohol... smoke if you wanted to. Very, very easy to get used to. Just need a few squilllion in the bank to buy and run it.

I guess the people with these yachts have the matching jets. Tough life.

[matrignano]

I Guess it was Le Bourget?

[NDA]

matrignano said:

I Guess it was Le Bourget?

It must have been - I just looked on a map, I thought it was closer in, but wasn't paying a lot of attention at the time. I remember there was no terminal to use, just in the car and then out.

[TheJimi]

CoolHands said:

Maybe I’m missing something but why do these boats appeal to rich people? Surely you could get the same service (staffed) and luxury surroundings in various mega expensive hotels? So what’s the point? Being a few hundred feet out of port / off a private beach doesn’t appeal to me, even swimming in the sea isn’t all that.

Others have covered it, but yeah, privacy & mobility are the key aspects.

A luxury hotel, regardless of what it is, doesn't come anywhere close to offering what a super yacht offers.

Edited by TheJimi on Sunday 8th August 12:47

[LeroyLoser]

TheJimi said:

CoolHands said:

Maybe I’m missing something but why do these boats appeal to rich people? Surely you could get the same service (staffed) and luxury surroundings in various mega expensive hotels? So what’s the point? Being a few hundred feet out of port / off a private beach doesn’t appeal to me, even swimming in the sea isn’t all that.

Others have covered it, but yeah, privacy & mobility are the key aspects.

I luxury hotel, regardless of what it is, doesn't come anywhere close to offering what a super yacht offers.

This, and with whats happened recently with cv and the subsequent fluctuating ‘open - close’ borders between countries, fires or floods, they are a great way to side skirt these issues, also you can get to places others cant by road.

My parents owned a boat when i was young, nothing massive like these (50ft fairline) and i despised going anywhere on it it as it was so much effort for very little reward, mix in the uk weather and it put me right off boating.

Recently after visiting corsica though we started to see it as a really good way of alternative living for the summer months, rather than buying though i think chartering one with full crew for a month or two would be quite fun, had a quick look on board some whilst we were away & for two i think 30m would do the job but i suspect you’d start to want a few toys to play with over 6-8 weeks which’d mean something larger which equals more crew etc etc, its hard not to crave the add ons i suspect..

Certainly wouldnt buy as you’d have to rent out to subsidies things and thats too much hassle imo.

[Caddyshack]

The ultimate might be very rich and care free parents….let them have all the pain of costs and you just turn up, use the boat then go home and leave the mess for everyone else?

[Condi]

Caddyshack said:

The ultimate might be very rich and care free parents….let them have all the pain of costs and you just turn up, use the boat then go home and leave the mess for everyone else?

Or just have so much money that it's all pretty irrelevant and you don't worry about the costs anyway.

[Davey S2]

Superyachts are also the ultimate status symbol which to many people is important.

Andrew Winch who designs a lot of them summed it up quite well when he said that Superyachts are the stately homes and Chateaus of the 21st Century.

[SpeckledJim]

Davey S2 said:

Superyachts are also the ultimate status symbol which to many people is important.

Andrew Winch who designs a lot of them summed it up quite well when he said that Superyachts are the stately homes and Chateaus of the 21st Century.

That's a nice way to put it. If you want to build a new stately home you're into a decade of arguments and paperwork before anyone can see how rich you are. Vexing.

You don't need anyone's permission to buy a superyacht and you can buy a used one for the couple of years that your new one takes to arrive.

[Caddyshack]

SpeckledJim said:

Davey S2 said:

Superyachts are also the ultimate status symbol which to many people is important.

Andrew Winch who designs a lot of them summed it up quite well when he said that Superyachts are the stately homes and Chateaus of the 21st Century.

That's a nice way to put it. If you want to build a new stately home you're into a decade of arguments and paperwork before anyone can see how rich you are. Vexing.

You don't need anyone's permission to buy a superyacht and you can buy a used one for the couple of years that your new one takes to arrive.

I was talking to the owner of Fraser Yachts and he said he has buyers at the moment who have been frustrated with holiday lock downs so are buying £100m yachts to get a couple of years guaranteed holidays, he said the sort of buyers will have that sort of money and a whole lot more available so it is a quick purchase.

[LimaDelta]

Caddyshack said:

I was talking to the owner of Fraser Yachts and he said he has buyers at the moment who have been frustrated with holiday lock downs so are buying £100m yachts to get a couple of years guaranteed holidays, he said the sort of buyers will have that sort of money and a whole lot more available so it is a quick purchase.

Not quite as simple as that unfortunately, there are still restrictions for guests and crew when transiting across national boundaries (even with the EU). Chances are your yacht will be in some nation's territorial waters and unless it is [i]very[i] big, you will have to land your jet ashore and deal with the paperwork and hassles there like anyone else before you even reach it. I'm not saying it's impossible, we have had guests this summer and last too, but it's not like it was pre-covid. We are lucky we're not reliant on the charter market.

[arguti]

CoolHands said:

Maybe I’m missing something but why do these boats appeal to rich people? Surely you could get the same service (staffed) and luxury surroundings in various mega expensive hotels? So what’s the point? Being a few hundred feet out of port / off a private beach doesn’t appeal to me, even swimming in the sea isn’t all that.

Apart from other factors as mentioned, tax residency is one of the key issues.

Like most international golfers, touring musicians/groups, tennis players et al, a lot of these folk base themselves in low/tax havens and have their diaries/itineraries planned or approved by their tax accountants so as to fall into any tax jurisdiction residency rules. Likewise Formula 1 - this was all explained to me by someone who was the chief tax adviser for one of the legends supergroups - was a fascinating insight into a different world.

Notice how many of the top golfers are based in Florida, Formula 1 in Monaco, Switzerland, etc

That's allegedly why when Roman A visits the UK to watch Chelsea play, he tends to sleep on his yacht as overnight stays offshore do not count towards residency in terms of days spent in UK in any given tax year.

Many years ago, it was rumoured Mick Jagger couldn't pick up his gong at the time because he would have breached the then UK tax residency annual limit but that story is bit more complicated as Queen allegedly refused to meet him and got Prince Charles to perform the honours.

[RevsPerMinute]

Speaking of Roman A, I can't deny - costs aside, I can understand why he chooses a yacht over a Travel Lodge.
https://www.superyachtfan.com/yacht/solaris/photos...

[Burwood]

arguti said:

CoolHands said:

Maybe I’m missing something but why do these boats appeal to rich people? Surely you could get the same service (staffed) and luxury surroundings in various mega expensive hotels? So what’s the point? Being a few hundred feet out of port / off a private beach doesn’t appeal to me, even swimming in the sea isn’t all that.

Apart from other factors as mentioned, tax residency is one of the key issues.

Like most international golfers, touring musicians/groups, tennis players et al, a lot of these folk base themselves in low/tax havens and have their diaries/itineraries planned or approved by their tax accountants so as to fall into any tax jurisdiction residency rules. Likewise Formula 1 - this was all explained to me by someone who was the chief tax adviser for one of the legends supergroups - was a fascinating insight into a different world.

Notice how many of the top golfers are based in Florida, Formula 1 in Monaco, Switzerland, etc

That's allegedly why when Roman A visits the UK to watch Chelsea play, he tends to sleep on his yacht as overnight stays offshore do not count towards residency in terms of days spent in UK in any given tax year.

Many years ago, it was rumoured Mick Jagger couldn't pick up his gong at the time because he would have breached the then UK tax residency annual limit but that story is bit more complicated as Queen allegedly refused to meet him and got Prince Charles to perform the honours.

RA does not pay UK taxes, regardless of where he sleeps at night or time spent here. He is an Israeli Citizen and can come and go (UK) as he pleases so long as he is a tourist. I suspect he has some pretty clever tax gurus on his payroll

If the UK had given him a passport, they could have taxed his global income. Short sighted?

[thegreenhell]

Burwood said:

RA does not pay UK taxes, regardless of where he sleeps at night or time spent here. He is an Israeli Citizen and can come and go (UK) as he pleases so long as he is a tourist. I suspect he has some pretty clever tax gurus on his payroll

If the UK had given him a passport, they could have taxed his global income. Short sighted?

But as a tourist he would still have a limited allowance of overnight stays as dictated by his visa instead. We just can't tax him for it.