Salty Stan says.....Young, wealthy and passionate yacht buyers are buying Super Yachts and the bigger the better. Because of this market the shipyards and brokers see a boom looming large on the horizon. "This new market is in Asia,"
Luxury yachts, Mega yachts, or Super yachts typically have no real home port as such, although a yacht must be registered in a port of the country where its flag state is registered. Popular flag state registrars for large yachts are Cayman Islands, Marshall Islands, Isle of Man, and the British Virgin Islands.
"The yacht industry is very unique. It's something you have to learn, understand and feel," "You wouldn't go out and buy a Super Yacht if you did not know enough about the industry and maritime manners. I've seen people buy a Ferrari on impulse or go to an air show, like a plane and just buy it. A Super Yacht selection takes much more time and consideration."
Shipbuilders and brokers in Monaco concurred. The Asian market for super-yachts is one that, although slow to cultivate, will have huge potential amid a boom in high-net-worth individuals. The biggest prize would be China, they said.
There's a feeling that in the next couple of years, we'll get more and more clients who've never owned any kind of Yacht before and will invest in a new super-yacht.