10 Questions: An interview with Irvine Laidlaw

We caught up with Lord Laidlaw of Rothiemay and sought his input on what he puts into his yachting and what he gets out of it. With 40 years of owning and racing sailing yachts, primarily under his stern brand, Highland Fling, he recently won the recent Loro Piana Superyacht Regatta in Porto Cervo, hosted by Boat International. His motoryacht days started some 10 years after embarking on his sailing yachts and after owning 12 different motoryachts over the past 25 years, has recently culminated with the 2010 built, 68m van Lent built Feadship, Lady Christine.

An owner with experience and passion for quality and excitement, Lord Laidlaw really understands what ownership is all about, but as you will see from his comments, thinks there is still much to improve and develop in order to get the most out of ownership.

TSO: How much time do you spend on board your yacht/yachts, and where is your favourite cruising ground?
IL: On average I spend about six weeks a year, which is not really sufficient to justify ownership. I have many favourite cruising grounds. In Europe it is Turkey and Croatia, while in North America, I prefer New England and Alaska. I also enjoy Thailand, the Philippines and the Galápagos.

TSO: How much, approximately, do you invest annually in your yacht/yachts? 
IL: Across all of the yachts I invest about $6 million.

TSO: What does ownership deliver to you personally, and does the investment deliver unique value?
IL: Boating is, on the purely economic side, poor value compared with houses, skiing, golf or other activities. 

TSO: Is the cost of ownership logical, transparent and comparable to other assets, such as property and planes?
IL: It’s transparent because I make it so. The costs are far higher compared with other assets, excepting planes.

TSO: What is the most positive aspect of ownership?
IL: The enjoyment of competition (sailing) and being on the water in nice places we would not normally visit unless we had a boat (cruising).

TSO: What is your biggest frustration/s with ownership?
IL: The crew, who are often overpaid and under worked, except while we are on board. Also there are few available industry training programmes or standards. In many cases, crewing is not seen as a career.

TSO: What changes or improvements would you like to see in the market in order to sustain and grow the ownership value model?
IL: A reduction in the commission rates for brokers to the levels that are paid on airplanes.

TSO: What’s the biggest mistake/s you have made during your ownership experience?
IL: Not selling on the first offer, even if it seemed very much lower than I expected. Also, trusting brokers to have a feel for the market.

TSO: When it comes to superyacht ownership, who do you trust and rely on in the decision-making process, and why? 
IL: Myself, as I have as much experience as anyone.

TSO: If asked by an inexperienced potential owner for advice before entering the market, what is the most important piece of advice you could deliver? 
IL: Charter a yacht first to make sure that you like the sea, and to determine the size and type of boat that you want to buy.

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