Yacht Shows, Market Turmoil & Trickle-Down Economics

As the boat show season fast approaches and superyacht magazines are full of Show previews, Bob Saxon President of IYC in the USA tells us: “Following a stunning summer of activity, IYC has completed 12 brokerage sales—like all in the superyacht business, we greatly anticipate the 2011 Monaco Yacht Show and Fort Lauderdale International Boat Show.

He adds: “Given the remarkable ride on Wall Street of late and watching with a certain kind of amazed fascination the political gamesmanship over the deficit and debt ceiling, I’m encouraging our team to suggest to prospective yacht and charter yacht owners that there is perhaps no better hedge against economic uncertainty than a yacht.

“Moreover, he says, “Pent up demand for yachts and yachting amongst our demographic has never been higher. Gone is the perceived ‘embarrassment of affluence’ of 2008, 2009. In its place is the understanding that owning a yacht puts an entire industry to work.

Saxon reports that: “Chartering yachts is a good strong business and offers those able to afford it seclusion and elegance and a private way to enjoy hard earned wealth.

“Doing business with the large yacht industry works a whole lot better than wondering what next steps governments might take to ensure fiscal prudence.