Page 62: of Maritime Reporter Magazine (February 1994)

Megayacht Market Report (Continued from page 71) increasing, and so therefore has average cost," Mr. Rust concurred. "But money is obviously a concern for today's buyer, or else they wouldn't have these boats. We're seeing an emphasis on higher value rather than quality at any cost."

Those sentiments were echoed by

Herbert Postma, president of

Westship of Fort Lauderdale, Fla., which has units that deal in both new and used yachts "I think the trend is to quality. People are real- izing you do get what you pay for," said Mr. Postma. "We have a more astute buying group," he said of today's yacht buyers. In the eight- ies when the economy was booming and more people could more easily afford such a luxury, yacht buyers didn't necessarily have to know much about boats. But in these days of tighter belts, more buyers are knowledgeable about what they're getting into. "The discre- tionary buyer is coming back into

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Trinity's 192-foot conversion October Ro. the marketplace," said Mr.Posti "There's a definite trend tow value," said Mr. Reagan of So\ eign Yacht. "There's more of a pi tical approach toward less osten tious cruising quality. We're bui ing some really serious, nice-lo' ing yachts, but they're also seric engineering efforts — li

Venturosa, which was elegant t understated." The Venturosa is 109.5-foot technologically advanc sailing yacht that Sovereign del: ered to a European owner in t summer of 1993.

Mr. Reagan said—at least in h region—owners were looking f boats that share the functionali and longevity of their distant cor mercial cousins. "HereintheNorti west, there's a tendency to buii boats for long-term application," I said. Mr. Hodgson of Schoell Mi rine/Infinity Yachts said that today "The owners are looking for fully- rigged boats — nol bargain-basement boats with no equipment" —

Michael Hodgson yacht owner wants basically what he's always wanted. "Things have improved in terms of design and technology," he said, "but when someone orders a boat, it's going to be fast and able to run the rough seas, and they want to get their money's worth. "The market's good for high-speed sport yachts," Mr. Hodgson con- tinued. "The owners are looking for fully-rigged boats — not bargain- basement boats with no equipment."

Palmer Johnson's Mr. Kelsey would seem to agree, with an em- phasis on advanced gadgetry. "As always, pleasure boat owners are very interested in new develop- ments , primarily in navigational and communications equipment: the new satellite navigation technology, integrated bridge systems. Many yachts over 100 feet have better systems than commercial vessels.

They don't need that, but it's part of the experience." Mr. Kelsey said the communications equipment in particular was actually having an effect on the popularity of yachting. "People are in constant contact with their offices. They don't have to say they're going off and won't be reach-

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