Yachting really isn’t the cheapest of hobbies but even though high end models cost millions, prices in general are way down due in part to the state of the economy. Yachts are the first items to go in times of crisis and if you have a spare £10 million lying around, it has never been a better time to go and buy one.
Yacht brokers are finding that the huge drops in prices are really bringing out the deal hunters. Some people have waited literally months for prices to come down to levels in line with the current economy. Yachts in many cases are selling between 25-45% off the asking price.
Like with many items we buy such as cars and houses it important to make sure that you get adequate yacht insurance as if you have an accident in a £25 million boat, it is not worth thinking about repair costs.
The industry will always have demand as it is always millionaires that buy the yachts, its just the asking price that will get lowered as the economy demands it.
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