As the world continues to downsize, the bubble that is the superyacht industry continues to expand. This was clearly evident at this year’s Monaco Yacht Show, as Port Hercule was filled to the brim with not only some of the world’s finest superyachts, but countless brokers, suppliers and luxury lifestyle brands.
In turn, the event’s record breaking 600 exhibitors enticed a record breaking number of private visitors. From the 25th to the 28th of September, the Monaco Yacht Show concierge service invited over 200 select VIPs down to the marina (compared to 150 in 2018), introducing them to the show’s shipyards, which led to over 50 yacht visits.
One of the reasons for the increased number of VIPs is that the world’s wealthy are getting younger and more adventurous, with superyacht design now reflecting a more disruptive side.
The classic ‘floating palaces’ are now far more lifestyle orientated with many designed for extended trips and not just for anchoring under the sun. This new wave of superyacht design brought in clients from the United States, Russia, England, China, India and the Middle East, many of whom had serious intentions to buy or charter. The general attendance was also up over previous years, with 31,565 visitors walking the event’s blue carpet.
As for the yachts themselves, there were 125 on show, costing an estimated €4 billion. This colossal value was represented in the quality presented, with 44 new superyachts on display. Size wise, there were 14 superyachts over 70 metres in length and two over 100 metres. Although the average length remained the same at 49.5 metres, the average price reached €37.8 million this year.
The yachts on show were celebrated not just by the event’s visitors, but also by the organisers themselves, as the 6th Monaco Yacht Show Superyacht Awards ceremony was held on the eve of the show. Of the four awards, Attila, the 64 metre Sanlorenzo received the MYS/RINA Award for its design. TIS, the 111-metre Lürssen received the MYS Interior Design Award. Abeking & Rasmussen’s Excellence won two prizes: the MYS Exterior Design Award, and the ceremony’s most prestigious award, the MYS Finest New Superyacht.
The world’s wealthy are getting younger and more adventurous.
Gulf Craft, as usual, brought a selection of its range along to Monaco. These included the award-winning Majesty 140 and Majesty 110, accompanied by the Nomad 95 and 75 SUVs and last but not the least, the Oryx 379. The Ajman shipyard also announced the Majesty 120 and provided some major updates on its Majesty 175 build.
There was plenty to be upbeat about at this year’s event and the organisers have already set the date for the next year’s 30th anniversary. Keep the 23rd to the 26th of September 2020 fee in your diary – it’s sure to be another record breaker.