The superyacht market – in its present form – is still very much in its infancy. Two decades ago, a large yacht would be 50m. Now, we’re seeing yachts double that size on the water, and these superyachts are only going to continue to grow; and with larger yachts, come larger problems.
In order to best serve the industry’s ultimate client, and to ensure that the market continues a healthy, sustainable growth, we want to shed light on the most pertinent, topical issues that surround superyacht acquisition and management.
We are interested in hearing from the industry about the issues, concerns and challenges facing superyacht owners; both those currently in the market and those thinking about joining the yachting world. What makes UHNWIs reticent to purchase a superyacht? What are the decisive factors in causing an owner to sell their vessel and leave the industry completely? What external influences does the superyacht market need to be aware of and adapt to?
Over the past few months, the main issue I have heard discussed concerning the management of assets is lack of communication between all parties; this could be between a client and a family office, or a wealth manager and a captain. In an environment where large sums of money and incredibly expensive assets have to be overseen, it is vital for everyone to be on the same page. However, I am well aware that this may just be one facet of the complex ownership process.
Fundamentally, the superyacht industry is moving towards a higher level of transparency, which will ultimately be better for clients and service providers alike. As part of the ongoing dialogue between the client and their advisors, I invite family offices, wealth managers and portfolio advisors to email me (firstname.lastname@example.org) about the key issues their clients are facing, discuss how we can work together to tackle the ownership challenges and, ultimately, continue to ameliorate the ownership process for our market.