“There’s not that much product out there,” explains CRN Chief Commercial Operator Stefano de Vivo, “and I think more and more owners now know a lot better what they use the boats for, so maybe they had a 50 or 60 metre so now they’re really thinking ‘I’m ready to do that big leap and do the 90 or 100 metre and get into the Top 100. I think the profile of the client is changing.”
The last few years raised the bar for creativity in large yachting, with cutting-edge superyachts (e.g. S/Y A, Jupiter, Dilbar, Black Pearl and Savannah to name only a few) breaking the mould, creating a new level of custom and inspiring other owners to spend time on the water in their own way.
“The market is moving towards more and more unique projects,” explains Paris Baloumis, Marketing Director of Oceanco, “We believe that future new builds will embrace even more forward thinking and innovative elements.
Yachts are becoming more and more self-sufficient. We’ll see an increased desire for the very latest technology possible and the most efficient yachts possible. We will see an increased desire in clients seeking unique custom projects, be it either sail or motor yachts. We also predict that the new build market in the next three to five years will garner new clients and client profiles from outside the industry wishing to incorporate their lifestyle and their personal vision of how they see themselves enjoying yachting. Customization and forward thinking DNA is key.”
The rise of custom-built yachts and increase in larger yachts has pushed vessels between 70 and 80 metres out of the Top 100 in the space of just two years. With such a dramatic increase in yachts over 100 metres, we asked the experts about the economic factors surrounding the large yacht market:
“The philosophy of the shipyards, the philosophy of the owners, the dedication you need to own a 100+ metre to go into the Top 100s. This is a combination of factors, which is the driving factor? Economy, for sure is very important,” explains Holger Kahl, Managing Director of Nobiskrug, “but it’s like waves, it goes up and goes down but if you’re on that wave of product, you’re following your own philosophy, your own needs and their is a certain independence from economy.”
“The world is in a particularly unhealthy place at the moment,” explains Michael Breman, Sales Director of Lürssen Yachts, “so all the people that are coming to us are really determined to have the right boat for them. So all of these boats are really truly bespoke yachts designed specifically for that very one client.”
The traditional notion of creating a boat that matches client requirement while reflecting their personality is no new phenomena. But, the increase in size and demand for custom in the Top 100 range is down to the owners of yesteryear bringing their passion for the water forward to something larger, and aiding the economy in return.
This demand and the projects underway are not only aiding economic factors but inspiring new technologies, younger owners and new creativity surrounding construction techniques to drive both the Top 100 and the entire industry forward into the future.