Ambridge Socialist
5th September
Yachts & the Rich in times of Pandemic. Ambridge update
Justin and Lillian have some spare money- quite a bit of it. It’s the way capitalism works for the few not the many.
Lillian wants to buy an event horse. Justin prefers a yacht. In the end neither so far hashappened
Yachts are one of the symbols of the pandemic. The Financial Times How to Spend It magazine has had an entire feature on yachts. I’m not sure whether yacht owners read the FT for guidance or if the paper just likes the advertising.
It reports that the during the Pandemic the very rich have become even richer and have some spare cash to spend on a new yacht. The FT reports that 494 superyachts (up from 341 in 2020) are currently being built in boatyards.
It appears that slightly smaller but better equipped yachts are what is required. Things like on-board spas, ski rooms, centrifuges and Artic ice crushers are essential items
As the FT’s yachting correspondent notes they ‘have no real reason’ to exist. They serve no actual purpose. However yacht owners are getting younger, under 40, (though in the case of Ambridge residents) and as much sailing around in them they want their boat to make a statement when it comes into harbour. Apparently.
Choosing what yacht one wants is reportedly a tricky task. Practical or aspirational. Cost is not an issue either for the super-rich who have created a boom in the market even if Ambridge doesn’t have a very big boating lake…
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