It's not just Jeff Bezos. Super rich around the world are snapping up superyachts as sales hit a record high last year
Super rich people who craved more privacy during the pandemic have taken to the high seas, sending the sales of superyachts to a record high last year.
One reason for the spike in multimillion superyacht sales is"the increased need for privacy and private isolation" that such vessels can provide, said Sam Tucker, head of superyachts at VesselsValue, a shipping data provider.Low interest rates helped to provide for cheap borrowing, while the stock market boom also created more wealth, Tucker added in a report titled"2021 Superyacht Market Performance" released last month and seen by Insider.
While there was more money, there were fewer yachts to go around as shipyards were unable to significantly increase capacity due to global supply chain issues and a less efficient workforce due to pandemic movement restrictions, said VesselsValue's Tucker. In 2021, fewer than 150 new yachts were delivered, far lower than over 350 in 2019, according to VesselsValue.
This has kept prices up in the secondhand market. Before the pandemic in 2019, a ten-year-old 60-meter Italian-built yacht could be bought for 20 million to 25 million euros Today, the same vessel could fetch over 30 million euros noted Tucker.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Super Mario Game Potentially Leaked by Nintendo InsiderThis October, it will be five years since Super Mario Odyssey -- the most recent Super Mario game [...]
Read more »
A Look at Ohio State's Super Bowl History Ahead of Super Bowl LVIOhio State is likely to have four Super Bowl starters for the first time as Eli Apple, Vonn Bell, Sam Hubbard and Isaiah Prince bring OSU’s total of Super Bowl participants to 65.
Read more »
Super Bowl 2022 Live Stream: How to Watch Super Bowl LVI OnlineThe Super Bowl teams are set with the Los Angeles Rams set to take on the Cincinnati Bengals in LA next weekend. Here's what to know about the big game, from scoring tickets to SoFi Stadium to finding a live stream online
Read more »
Attack on Titan Episode 80 Trailer Teases Big Reveals About Titan HistoryAttackOnTitan episode 80 trailer hints at the show revealing more about the Titans' origin.
Read more »
Attack on Titan Star Hypes Episode 80 with Startling ConfessionAttack on Titan episode 80 is almost here, and the anime’s star says recording its script cost him his voice:
Read more »
Martha Stewart Shares Her Go-To Makeup Routine for Glowing Skin at 80Martha Stewart Shares Her Must-Have Makeup for Glowing Skin at 80
Read more »