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Virtual reality helps clients design their superyacht

Date: 29 Sep 2016

Citywealth

Mark Duncan, group commercial and market director, Yachting Partners International also says the Chinese are showing keen interest in yacht building.

What’s the hottest topic at the Monaco Yacht show this year?

Virtual reality. Advancements in VR technology mean we can now take clients on board a proposed new-build yacht before it is constructed. This allows clients to have a virtual tour around the vessel so they can fully assess the design, the different materials, and lighting conditions, and to understand the dimensions of the corridors and rooms, all through a pair of Oculus Rift goggles.

How much do your clients spend on yachts?

A super yacht can range in size from twenty-four metres, all the way up to 180 metres, and they’re getting bigger, with plans for a 220 meter super yacht in the pipeline. A pre-owned yacht in the twenty-four to thirty metre range will be in the ¬£8 ‚Äì ¬£18 million price bracket. The largest, top-end yachts will be in the ¬£170m ‚Äì ¬£260m range, plus operating cost.

What are the best investment tips you have?

Yachts shouldn’t be considered a financial investment but a luxury asset. Buyers should also be aware that not all boats that are for sale are publically advertised; a good broker will know boats that aren’t on the market, which may widen their options.

What trends are there in the industry?

Middle Eastern, Russian, British and American customers are still important in the purchase market. With Chinese consumers, their attitude to yachting is changing, with Chinese super yacht building yards becoming more prominent. And despite the uncertainty in the Chinese economy, China now has the most billionaires in the world.

This article was published in Citywealth Weekly, our mid-week roundup of topical news and exclusive expert comments.Sign up here to start receiving the Weekly in your inbox.

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