Camper & Nicholsons ?Polar Star? superyacht
NEW YORK ? Superyachts provide a peerless luxury for the ultra-wealthy, but selling the segment on the industry is still a challenge, according to an executive at Wealth-X.
Superyacht owners make up an elite portion of the elite, as the 4,476 of them average $10 million at resale while Wealth-X?s ultra-high-net-worth threshold begins at $30 million, meaning many of the 212,000 of them cannot afford superyachts. The segment is still concentrated in Anglophone nations, but the changes in the industry are slowly making the product more appealing to a broader portion of the ultra-wealthy.
?I think it?s a lack of understanding,? said Kurt Fraser, director of marketing at Camper & Nicholsons. ?That?s one of the fundamental reasons we did this, this isn?t a report for yacht owners. ?There?s a lack of understanding when you talk to senior charter brokers who, when you try to communicate the experience are under the impression of, ?Why would I want to be onboard a massive yacht on Saint Tropez" What am I going to do"’? he said. ?They don?t understand the detail of the experience, and when you break past the fact that it?s a boat and ?I don?t know boats,? but get to the heart of the experience, they re-engage.?
Out west

As detailed in Camper & Nicholsons? and Wealth-X?s ?The State of Wealth, Luxury and Yachting? report and by Winston Chesterfield, associate director, custom research at Wealth-X during the rep...