ONE of the most recognised words in the world in any language is Monaco. A place, a principality, a casino, even a way of life. Reputed to be the playground of playboys and the super-rich. Monaco is a place of very serious business too.
A place where the ‘Ultra High Net Worth Individual,’ as described by their bankers, and their families come to see superyachts, buy superyachts and be seen to be looking at superyachts.
Of course those who are only seriously wealthy will also come to Monaco during superyacht week of September from the 25th to the 28th this year when the Monaco Yacht Show will be doing a roaring business in the principality.
Alongside buying and selling superyachts [average cost is now €27 million to build] there is a huge business in chartering them. Charter a superyacht by the week, month or even season. Weekly charter rates that can be as high as €500,000 per week or more, plus food, fuel, beverages and not forgetting tips for the crews.
It really is a good idea to check things out in-depth before you make your pick for that seaside holiday. The Monaco Yacht Show is where you can select your yacht to charter, your shipyard to build your yacht as well as meet the team that will design it with you.
This year as in the recent past sustainability is the hot topic with shipyards and the wider industry developing solutions to reduce their carbon footprint. Hybrid engines and an emerging demand for sailing superyachts as well as battery power, fuel cell technologies, hydrogen fuel technology all are being explored and installed.
Supporting the Blue Marine Foundation is one of many industry initiatives where the superyacht industry is working to reduce and combat ocean pollution. Wealthy and influential often go together and a desire to make the planet’s oceans fit again is no bad impulse.
Superyachts are not at all like most other vessels of comparable size. For one thing they usually average just 300 hours of operations at sea per year. Superyachts only very rarely sail at the maximum speed that they are capable of, preferring to cruise at speeds that offer maximum comfort rather than speed.
The Monaco Yacht Show is full, it cannot get any bigger, yet does seem to dominate the principality of Monaco for the week.
42,000 sqm of exhibition space
125 Super Yachts
55 Tenders and Toys
30 Cars and Bikes
20 per cent are private visitors
87 per cent are international visitors
125 Super Yachts on Show
42 New Launches
49.5 metres average length overall
Euro 27 million average cost
107 metres largest yacht
14 are more than 70 metres in length
7 are more than 80 metres length
3 are more than 90 metres in length
Total value on show – Several billion Euro.
The Monaco Yacht Show’s focus is to offer select visitors and the industry the ideal venue to meet and discuss their interests. Interests which include environmental issues as well as classic cars and submarines not only superyachts to explore the oceans of the world.
Nick Horne, London, England