Super times for superyachts as billionaires buy into maritime bling
Monte Carlo boat show finds demand for floating palaces higher than ever
While others panic about the financial crisis, this weekend's Monaco Yacht Show proved that the mega-rich have never been richer. Yacht brokers describe an eastern European new rich, boosted by oil wealth, keen to outdo their rivals. Middle Eastern viewers and occasional Latin Americans are following suit.
As the number of multi-billionaires grows, the superyacht industry is enjoying such a boom that demand for the most expensive models outstrips supply. Boats built to personal specifications have grown to such vast proportions that the labels superyacht and megayacht are no longer enough. Those on the dockside now talk of the gigayacht - multi-storey, 120-metre floating mansions that resemble cruise liners. The cost of the biggest new boats exceeds €200m
200. Million. Pounds.
This is going to make it difficult for the hordes of peasants with pitchforks and flaming torches.
But we'll figure out a way, you fuckers, we'll figure out a way...