Katherine Ellis, Business Development Director at Boston Group, reflects on the 2013 Monaco Yacht Show.
Now in its twenty third year, the Monaco Yacht Show (MYS) once again brought together the world’s most amazing showcase for spectacular superyachts. On display in Port Hercules from the 25-28 September floated 105 superyachts between 25m and 90m. As intended, the show attracted billionaires from the far reaches of the world. The MYS is a fantastic opportunity for yachting enthusiasts to gather in one place to share the latest industry information and show-off the latest expertise in new builds and technology. Statistics showed 80% of visitors at the show represented 38 countries.
For me, one of the highlights of the show was seeing the beautiful 88m sailing yacht, the Maltese Falcon, built by Perini Navi in Tuzla, Turkey gracing the port. This incredible super cruiser has a maximum speed of eighteen knots and a range of 3,000 nautical miles, but at €350,000 a week for the 2013 Mediterranean season she doesn’t come cheap! During the show, an interesting bidding war commenced on the sale of ISSANA, a 55.5m Feadship. Dropping her price from EUR34 million to EUR28 million, Cecil Wright & Partners had their work cut out with frantic negotiations.
Following the successful launch of Boston’s yachting services to the market last year, we were delighted to welcome back our intermediaries, clients and friends to what has become an annual drinks and canapés reception to promote our expertise in both the Isle of Man and Malta. It was fantastic that our colleague Chris Borg (MD, Boston Malta) joined the Isle of Man team and the Chairman of Boston to welcome our guests.
Additionally, it was fantastic to fly the flag for Isle of Man PLC, raising the profile of the Island as a centre of excellence for yacht ownership and registration. As one of the 9 co-sponsors (including Affinity, Airewave, Appleby, Baker Tilly, Cadogan, Ibos, KPMG and OCRA Marine) of the Isle of Man Yacht Forum breakfast, we were delighted that over 60 people attended the event including representation from the Isle of Man that received significant praise from the yachting industry.
The prestigious event lived up to its global reputation. To host such a fantastic event it takes nearly 300 people to contribute to the setting up of the exhibition, the fitting of the stands and to ensure the show runs smoothly, this includes 25 security agents.
Overall the MYS was a huge success for Boston and we are already looking forward to the event next year!