TRAVEL CHANNEL: MILLION DOLLAR YACHTS 2 OF 3

TRAVEL CHANNEL: MILLION DOLLAR YACHTS PART 2 OF 3

The term luxury yacht refers to a very expensive privately owned yacht which is professionally crewed. Also known as a super-yacht or a mega-yacht, a luxury yacht may be either a sailing or motor yacht.

This term began to appear at the beginning of the 20th century when wealthy individuals constructed large private yachts for personal pleasure. Examples of early luxury motor yachts include M/Y (motor yacht) Christina O and M/Y Savarona.

Early luxury sailing yachts include Americas Cup classic J class racers like S/Y (sailing yacht) Endeavour and Sir Thomas Lipton’s S/Y Shamrock. The New York Yacht Club hosted many early luxury sailing yacht events at Newport, Rhode Island, during the Gilded Age.

More recently, over the last decade or two, there has been an increase in the number and popularity of large private luxury yachts. Luxury yachts are particularly bountiful in the Mediterranean and Caribbean Seas, although increasingly luxury yachts are cruising in more remote areas of the world.

With the increase in demand for luxury yachts there has been an increase custom boat building companies and yacht charter brokers. Luxury boat building and yacht charter companies are predominantly based in the United States and Western Europe but are also increasingly found in Australasia, Asia and Eastern Europe. European manufacturers such as Azimut-Benetti, Feadship and Lürssen dominate the very top end of the yacht building market.