Word: yachted
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
America's yachting heyday was in the early 20th century, when wealthy industrialists competed in creating elaborate waterborne palaces. Over the years, buying, building and chartering of yachts remained small and select, and in the late '70s, business hit bottom. Today the number of American-owned jumbos, over 100 ft. from stem to stern, is increasing from 80 in 1986 to 129, with the launch of 49 new yachts now under construction. More remarkable is that 33 of these yachts will be products of U.S. yards, rather than foreign competitors. Jumbo yachts sport a hefty price tag, ranging from...
Many of his customers return within three years to trade up to a superyacht. "Twenty-five years ago, a 120-footer was for kings and princes," says Denison. "Now the average boat we build is 90 feet." As for size, which matters greatly to yacht owners, King Fahd of Saudi Arabia owns the world's biggest yacht, the 482-ft. Abdul Aziz, which includes a mosque and a movie theater that seats 100. Because the King's yacht is currently in drydock, the unquestioned ruler of the waves is Queen Elizabeth's 412-ft. Britannia...
...factor that has contributed to the big yacht boom is satellite communications. International Broker George Nicholson, whose British family has been constructing boats for crowned heads and deep pockets since 1782, explains, "Most of the men who own large yachts are workaholics, and they get very nervous if they are out of touch with their offices. They used to plan their cruises around ports with telephones." Now, thanks to satellite linkups, clear communication with the mainland is available from telephones, usually in every stateroom. Telex and facsimile machines transmit contracts and newspapers. "We can consummate a deal anywhere," says...
...offset maintenance costs further, many owners charter out their boats. Missy Harvey, managing director of Yacht Charters Unlimited in Rowayton, Conn., says, "Nothing does more for the ego than to be aboard the biggest, most beautiful yacht as it pulls into the harbor." Rates run $49,000 a week for Parts V, $30,000 for the Atlantique (which has been chartered by, among others, Sophia Loren, former Secretary of the Treasury William Simon and FORTUNE 500 executives) and $29,000 for Never Say Never. The charter party must also pay for fuel ($50 to $75 an hour), food, dockage...
...crowd with whale-size wallets prefers to buy. And if they hurry, there is a bargain on the market, the 282-ft. Nabila, complete with disco and swimming pool. Until recently the pride of financially troubled Arms Dealer Adnan Khashoggi, the yacht is up for sale at a mere $35 million...