Having said that, it is still surprising that here in the US, boatyards (and marinas!) with prime waterfront real estate are not able to renew their leases with local port authorities but instead are having their lands changed into tourist or other “retail” use. A problem for this market…

I am fascinated by the fact that the market for fix-up/restore classic yachts hasn’t really picked up much at all with this new wealth “trying” to go into yachting and considering there is both a lack of ability to build one’s “new” impressive yacht in quick fashion (the yards are booked!) and simultaneously the classic (i.e. wood) boat builders/restoration firms are going under or taking on piecework for the mega yachts but not actually “growing” at all. If one looks at vintage cars, planes, or even estates, we find “restore” as a whole other dimension to flaunting one’s wealth.

Yet, this doesn’t seem to be the case in the yachting world.

I would expect marinas specifically geared towards larger yachts (30 m +) would be a better investment than yacht construction or repair. Presently, these yachts are forced to anchor out when they visit many ports OR they find themselves in commercial port areas without sufficient amenities. Even when new builds slow down or when owners defer maintenance for economic reasons, their yachts must be berthed somewhere!

Finally, from my experience as the owner of a 67′ (20 m) sailing yacht and experiences of other “regular” yacht owners, I believe tho corporate culture of most of the yachting world (builder, maintenance, etc) is dismal. Providing questionable quality that is often based upon looking at the owner as a very deep pocket, it seems that there are major problems. Best practices borrowed from other industries could allow new ownership at building/repair facilities to make existing businesses much more profitable (simple view seems to be that while looking at a deep pocket, businesses frequently forget to adopt efficient business practice because they are just passing cost along to the customer…its almost like the government contractor mentality…) I digress…

Else, one can make money just setting up shop nearby and pulling customers away from the old established businesses by providing quality and service… On the west coast of the US, a good example is to look at the establishment and growth of Baja Naval which has pulled much repair and hull extension business away from Southern California in terms of the 15-40 meter size yachts. Now, they have purchased a nearby commercial boatyard allowing them to venture into much larger yachts. With a good marina to boot, they are doing quite well.

Enough meandering thought… I’ll look forward to reading more of your thoughts on this topic in the future.