Luxury Real Estate

By Jim Walberg of Carribean Islands Realty

In the midst of one of the world’s worst economic crisis, the ultra-luxury super yachts are not only thriving, they are flourishing! Here is Jim Walberg’s 2009 update on this necessary item for the truly wealthy.

OK, so the venue was St. Bart’s “Bucket Regatta” last March. The scene is one that would take the breath away of any sailor worth his/her salt - there was not enough room in the massive marina of Gustavia Harbor to dock just 35 super yachts!!! The St. Bart’s Bucket Cup is the time each year for the super rich to keep things in perspective - SPEND.

THE current example of a super yacht in 2009 is the venture capitalist, Tom Perkin’s s/y Maltese Falcon. It is a gigantic 88 meters in length and as tall as the tablets on the Statue of Liberty!!! It takes 12 berths to dock this amazing yacht! The sails disappear into self-standing carbon fiber masts, which rotate with a computerized system that monitors the direction of the wind. It cost Mr. Perkins $130,000 to build his luxury yacht, and it has ALL of the high tech bells and whistles that one could ever dream imagine. Eat your heart of out Larry Ellison.

This is mainly a group of super rich men who are OK with losing millions of dollars a year on their many various ventures. So building a super yacht is just a hobby. Just to give you an idea of what it cost to build one of these super yachts - it is about $2 million for every three feet of length. Then, in addition, it cost another $2 million a year just for the maintenance, fuel, supplies, docking fees, and crew. According to The Yacht Report there will be 4,162 of these super yachts sailing the seven seas by the end of 2009!

Size does matter in the rarified air of the super rich who own these super yachts. So hang on to your hats… Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai and prime minister of the UEA of Dubai has just took the wraps off last March of the world’s largest yacht, the 531-foot Dubai. The $350-million motorboat accommodates 115 and has eight decks and even a helicopter pad. Not to be outdone by the Sheikh, Roman Abramovich, the Russian billionaire, will top him this summer with the 555-foot Eclipse. According to the yachting press, the Eclipse will be equipped with an armor plated master suite, bulletproof windows, a missile-detection system and even an escape-submarine.

Back to the Bucket Regatta…the informal motto of this regatta is “Win The Party!” We are talking about parties at the docks of Gustavia Harbor that are beyond belief. Four years ago a Canadian billionaire flew in live lobsters from Prince Edward Island for his dinner. A couple of years ago a billionaire from Minnesota turned his super yacht into an all night disco for the 700 guests attending the Bucket. Jimmy Buffett and the Coral Reefers surprised the Regatta this year with a surprise concert that raised money for the local hospital to buy a CT-scanner.

Despite the all night partying the Bucket Regatta is serious business for these super wealthy men who are only accustom to winning - at all costs. The challenge is that they are all going head to head with Mother Nature, because it is all about wind and the weather, as to who will claim the Bucket. The slowest boat gets the Escargot Cup - an empty can of snails. Because no one wants to be humiliated with the distinction of “winning” the Escargot Cup, these billionaires hire Americas Cup talent to steer their super yachts to victory.

The St. Bart’s Bucket Regatta is at the very top of the luxury yacht scene. It is a week of an ostentatious display of what unlimited resources are capable of. I have to say that a vast majority of the money spent in this arena could create a legacy of service to others in this world. But, as a sailor I still really like looking at what money can buy for a sailboat. Until next time…your Caribbean lifestyle detective is on duty.

By Jim Walberg of Caribbean Islands Realty

Two charter vacation yacht owners who are also the crews on their gorgeous yachts, checked in with Jim Walberg regarding some experiences from their current 2009 season in the Virgin Islands.

S/Y Three Moons: Randy and Shelly Tucker - Owners/Crew

The instability of the economy is only making us work harder at perfecting our positive image of being a high level professionally crewed yacht. Yes, we are all networking more and reaching out in new ways to contact prospective clients. We are emphasizing that no corners are being cut for our guests, no matter the cost or the economy. ALL INCLUSIVE still means “all inclusive” for our guests. We are a premium yacht with three professional crew members that continue to serve each of our guests in a royal style. This seems so much smarter than making “desperation deals”. If it results in a quieter season overall, then the results will reflect positively with the great changes that have been made to our yacht. All of us have our 2009 “to do” list and are happily getting it “done” with an extra week of time here and there between charters!

Also, visit us at the Spring Show in St. Thomas at Yacht Haven Grande. It will be another opportunity to show off our “stuff” to the various charter vacation brokers. And…our 1^st Mate - Becca Lee, has been working as a Tour Guide for Princess Cruise Lines here in St. Thomas for a couple of years between charters. Last month she was awarded with the prestigious “Tour Guide of the Year” award. We topped off her excitement with a nice tiara to wear while washing dishes in the Three Moons Galley! Being a crew member always keeps us grounded in a state of reality. Becca has created quit an impression with our guests this year because of her non-stop fun-loving style. And, Jim, the weather is sunny, 85 degrees, and the water has 100 foot clarity and is 80+ degrees. Hope to see you at the VICL Spring Boat Show! We may even stop by and visit you again during the off-season as we explore more of the San Francisco Area.

S/V Felicia: Chris and Julie Bennett - Owners/Crew

Good to hear from you, Jim! We enjoyed your article on Tuscany two weeks ago. It was very reminiscent of where we live in France during the off-season - but on a much grander scale of course. Just beautiful - would love to see the hotel some day, when we’re done with our house and able to actually do some more serious exploring in Italy and France.

2009 has been our transition year as we stepped up in size and scale with our new catamaran Felicia. We had such a successful run on Blu Moon that has really served us with clients following us to our new charter vacation sailing vessel. We’re actually doing great given it is our first year with a new yacht. We have the reputation in the industry as one of the top crew and charter experiences for our guests, however our catamaran is somewhat unknown in the industry because it wasn’t actively chartered for the past several years.

With any business “stuff happens” that causes you to need to be light on your feet and make adjustments. We are having one of those moments. We are in the midst of an insurance claim with a boat that sailed into us with six cruise ship passengers on board. S/Y Felicia was actually on her mooring, we gone into town for supplies, and the other boat got itself wedged between our starboard hull and our mooring ball. Don’t ask me how they came to be sailing between the boats in 20+ knot winds (they picked the most two expensive boats in the anchorage to sail between that day)….I don’t know. So…we’re in a lift at the moment having the lifelines, stanchion and bowsprit repaired. We had to already turn away a charter last week because we couldn’t go out in that condition. Just hope we can get some relief from the insurance company. We “splashed” back in the water last Friday so we are very excited to get back into the action of the business we love so much - creating an extraordinary sailing vacation for cherished customers. Until next time…fair winds. Please keep in touch. We love your articles!

So, if you would like more information about one of the most unforgettable vacation experiences you will ever have in Paradise, contact me and I will be glad to send you the information you will need. I look forward to hearing from you.

By Brian Langhorst

The Fort Lauderdale International Boat Show is quickly approaching. The dates of the show run October 30^th through November 3^rd. This is an absolutely fantastic time to visit Fort Lauderdale and view the world’s largest boat show! There will be over 3 billion dollars worth of yachts, super yachts, and pleasure boats available for sale and display. If you are planning on attending this event, I invite you to reach out to our wonderful member Drum Realty who represent many of the premier luxury waterfront real estate opportunities in Fort Lauderdale. Ted and Kelly Drum are long time members of Who’s Who in Luxury Real Estate and have operated their family-owned boutique real estate firm since 1952.

Drum Realty

1900 South East 15th Street

Fort Lauderdale, Florida 33316

Tel: (954) 764-4242

luxury@drumrealty.com

Drum Realty is South Florida's premier luxury waterfront real estate firm serving Fort Lauderdale for over fifty years. Our family-owned company, located at Lauderdale Marina, has earned an international reputation built on offering the highest quality properties with the most personalized service. Contact Ted or Kelly Drum for more information about any of our fine properties and to schedule tours. We invite you to explore the rich yachting tradition found throughout our charming and historic waterfront neighborhoods and learn how you can own a part of it for your family.