Out of all types of entertainment, which are available for billionaires, the most expensive is probably to support a super-yacht, Bloomberg writes. These vessels, which often exceed football field by length, often have super high price when purchased, and their value is almost never up over time. But ultra-rich people continue buying them.

This year they already purchased about 300 such yachts, while in 2017 this number reached 249 vessels. Total value of super-yacht bought last year was 2,6 billion euro, which is 21% higher than in 2016.

This sector showed significant growth recently especially after sales dropped by 90% and prices by two times after financial crisis of 2008. Number of shipyards building such yachts also was reduced by half.

Sales of secondary yachts rose recently as young buyers do not want to wait three or four years until the new vessel is ready.

Operating expenses are quite large for such yachts and can reach up to 10% of purchasing price each year.

Among owners of 25 the most expensive yachts in the world, eight are on Bloomberg’s list of billionaires. As well as other luxury segments, market for super-yachts bets on growing segment of Chinese ultra-rich. Last year 38 richest people of the country increased their wealth by $177 billion.

Owing a yacht that allows moving around Mediterranean and enjoy nice landscapes and beaches is a very pleasant amusement. However, as in case of buying a villa or apartments, purchaser of a yacht will face many nuances. If investor does not know about them, then ownership of luxury and comfortable yacht will become a heavy burden. Where will be the preferred place for the registration? What taxes arise during purchase and operation of the yacht? How much does it cost to maintain it? You will find answers to those and other important questions in our article "Megayacht in Mediterranean Sea: Tax Aspects".