Wednesday, 30th September 2015
There are yachts, then, there are yachts. As the 2015 Monaco Yacht Show enters its third day, let’s just go crazy and look at some yachts.
In this video, Bloomberg talks to Chris Cecil-Wright, founder of boutique yacht brokerage Cecil-Wright & Partners, who gives insight to the world of superyachts.
Wright talks about how the economic downturn hit the yacht sector, although not as bad as one might think.
Then he starts talking money — some of the higher-end boats for sale in Monaco are between 150 million and 175 million euros (or $167.6 and $195.5 million, respectively). In all, there is about $3.4 billion worth of watercraft floating around in Monaco today.
However, if you want one, you will quite literally have to wait, because business is good. However, unlike new cars, which have legendary depreciation, Wright says that possibly your yacht will be worth more once you take possession.