Yacht owners go bold, here’s the new trend
When billionaires including Oracle founder Larry Ellison and Microsoft co-founder Paul Allen kick back, they hit the high seas in their multimillion dollar yachts.
Today, these big boats are getting even bigger and demand is rising.
“The days of the small, 100-foot yacht, those days are over,” said Mansion Global’s managing editor Lucy Cohen Blatter, during an interview on “Mornings with Maria” on Thursday. Nowadays, the average size has ballooned to around 400 to 500 feet, she noted.
AYDIN, TURKEY - APRIL 27: 414ft luxury yacht 'Octopus' owned by Microsoft co-founder, Paul Allen, is moored to fuel up at Ege Ports in Kusadasi district of Aydin, Turkey on April 27, 2015. (Photo by Ibrahim Uzun/Anadolu Agency/Getty Images)
Yacht owners, including Allen, have been known to tote around a helicopter on deck, but nowadays owners want the ability to take a deep dive in their own submarine.
“These submarines allow the people who own the boats to actually explore what’s underneath them,” she said. “It’s pretty incredible.”
If you’re in the market for a starter yacht, be ready to shell out about $1.5 million, with some costing up to billions. “The cheapest is still a lot and the most expensive is hard to even wrap your head around,” she said.
If you are able to afford a yacht – big or small – Blatter suggests treating it like a business where you hold the CEO position. As for staffing, the captain, the chef and crew members need to work together to limit drama and have a well-run ship. She also advised staffing the yacht 365-days a year.
“Even if you’re not using the boat all the time, they should be on,” Blatter said.
For boaters on a budget, Blatter recommends chartering a yacht with your friends and family, which could cost around $100,000 for a dry run so you can see “if you like that lifestyle.”