Long reads shortened
The floating mansions of the super-rich
The market for superyachts is booming, says Evan Osnos in The New Yorker. Last year a record 887 were sold, nearly twice the previous year’s total. With more than 1,000 on order, ultra-rich clients “unaccustomed to being told no” have been shunted to waiting lists. One buyer in Florida was willing to pay an extra $15m just to skip a three-year queue. There are now around 5,400 superyachts – classed as anything longer than 98ft – and 100 or so 295ft-plus “gigayachts”. The latter can cost more than $250m apiece.