Sales of superyachts surge as wealthy seek Covid escape

Superyacht sales surge as wealthy seek Covid escape
The Lady Sheridan had an asking price of £24.7m. Source: BURGESS YACHTS
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Daily US Times: According to a luxury lifestyle publisher, wealthy people have so far spent more than £1bn on superyachts in 2021 as they seek to escape coronavirus lockdowns and travel restrictions.

Boat International said the surge of buying superyachts is set to make this year the biggest yet in terms of second-hand sales.

But Oxfam said it was “obscene” that such wealth was not spent on Covid-19 vaccines.

The charity said, ror the cost of those superyachts, the population of Nepal could be fully vaccinated.

Boat International said, the trend towards buying superyachts, which started last summer, is the “hottest sales streak on record”.

It defines a superyacht as being longer than 24 meters and typically they need a crew.

These smaller superyachts usually cost between €1m and €5m second-hand, and have running costs of about €200,000 per year for crew, fuel and mooring fees, said Boat International editor-in-chief Stewart Campbell.

They can be kitted out with spa pools, gyms, sun decks or anything else the owners want.

Mr Campbell said that the sales of the superyacht surge was being driven by “a cohort of very wealthy people” who wanted to get away from travel restrictions and covid-related lockdowns by buying a yacht.

While the coronavirus pandemic had made it more difficult for rich people to jet to the Mediterranean and cruise around, he said, “it’s a minor inconvenience in the scheme of things”.

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