Luxury yachts in Monte Carlo harbour, Monaco. Photograph: Graeme Robertson
They were the ultimate status symbol of the boom years, coveted by billionaire businessmen who wanted to show off their wealth, but the value of superyachts is plummeting as the credit crunch really begins to bite.
Many owners are being forced to sell their boats as their other assets fall, and dealers are slashing prices as the market slows.
Some bargains are on offer, according to dealers, including the 164ft Alibella, which boasts a helipad and marble fixtures and fittings finished with gold trim, and is now available for just €24.5m (£21m) - an huge €9.5m discount - if a buyer can come up with the cash within a month.
Edmiston, a London-based yacht brokers, says it was delivered to its anonymous owner six months ago, but they are now seeking a quick sale. An email sent to clients by William Christie, a broker at the company said: "The owner will sell at this massively reduced price if the deal can be completed within 30 days."
The Alibella can accommodate 14 guests in six cabins, but cheaper second-hand yachts are also available. The 163ft Thunder B, which has a seven-metre swimming pool, is now available for €13.7m, down from €18.9m and the asking price on the 146ft Candyscape has also been slashed, from €15.5m to €12.9m. The interior of the boat was designed by Candy & Candy, the upmarket property developer owned by brothers Nick and Christian Candy, and boasts a saloon with a giant entertainment system, including a pop-up flat-screen television.
The 150ft Midlandia, meanwhile, has been reduced in price from €27m to €19.9m. It comes with bullet-proof glass and an outdoor cinema; perfect for a security-conscious film buff with a few millions to spare.
link to the original post: Superyachts sink in value as crunch bites
source: guardian.co.uk
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Rory Vanucchi
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