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983 Superyachts for Sale Worldwide

Northrop & Johnson is proud to offer an extensive, global and all-encompassing selection of superyachts for sale. The superyacht sector comprises the world’s most luxurious, well-designed, top-performing yachts with a wide range of amenities and styles. We hope you find your dream yacht below. When you do, please contact a Northrop & Johnson sales broker to begin the buying process.

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Which Superyacht is Right for You?

The type of superyachts best suited for you depends on the on-water experience you want. You may want power and speed, ensuring a motor-powered superyacht is right for you. Alternatively, you may want to feel the wind pushing you across the water, so a sailing yacht is best suited for your needs. In either respect, the most popular superyachts feature incredible amenities, top performance and exceptional design that allows them to retain their value for resale or charter.

When choosing the ideal superyacht, you – with the help of your broker – will weigh various options and features, including style, type of yacht, build pedigree, crew layout, facilities, décor and more. Whether you are looking for a large, modern motor yacht or a classically styled gentlemen’s yacht, Northrop & Johnson has a wide selection of superyacht types available for sale.

When buying or building a yacht, remember: first and foremost, your yacht is for you and your family or friends to use. What type of experience and use are you looking for in your ownership? Are you interested in a new or used yacht? Custom built or semi-custom? How are you planning to use your yacht? If you are planning to charter your yacht to help offset some of the running costs, then factor in the charterer, but remember, a yacht is very personal and you must consider your own needs as a priority.

Types of Superyachts

What type of boat best suits your needs

The type of yacht will shape the experience for the owner. The most popular superyachts (be they sail or motor) have a combination of elements that make them strong across the board both during ownership and in resale value and charter success. From the style and type of yacht and the build pedigree to the crew layout, the facilities and even the décor, there are many factors that, when combined, influence the enjoyment of yacht ownership. Whether you are looking for a large, modern motor yacht or a classically styled gentlemen’s yacht, Northrop & Johnson has a wide selection of superyacht types available for sale. When buying or building a yacht, remember that first and foremost your yacht is for you and your family or friends to use. What type of experience and use are you looking for in your ownership? Are you interested in a new or used yacht? Custom built or semi-custom? How are you planning to use your yacht? If you are planning to charter your yacht to help offset some of the running costs then factor in the charterer, but remember, a yacht is very personal and it is important that you think of your own needs as a priority.

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PHOENIX 2 Motor yacht for sale

With her owner-inspired shimmering Art Deco interiors and Manhattan-style glamour, together with Winch Design, PHOENIX 2 dazzles inside and out with the promise of legendary entertainment. You can almost see Jay Gatsby and Daisy Buchanan foxtrotting around the gilt-and-black lacquer Steinway in the main deck ballroom. A grand dining table is overlooked by the swinging six-piece jazz band in custom-made gold bas-relief murals as a crystal chandelier dazzles overhead with fine wines from the sommelier room next door. You’ve arrived.

With her owner-inspired shimmering Art Deco interiors and Manhattan-style glamour, together with Winch Design, PHOENIX 2 dazzles inside and out with the promise of legendary entertainment. You can almost see Jay Gatsby and Daisy Buchanan foxtrotting around the gilt-and-black lacquer Steinway in the main deck ballroom. A grand dining table is overlooked by the swinging six-piece jazz band in custom-made gold bas-relief murals as a crystal chandelier dazzles overhead with fine wines from the sommelier room next door. You’ve arrived.

New York and its skyline were the inspiration for this yacht’s styling, from the Empire State skyscrapers on the bar stools in the sky lounge bar, lit by uplighters reminiscent of the torch held by the Statue of Liberty, to the firebird figurehead that looks as if it may have flown in from the Chrysler Building. Everything, from the door handles to the cutlery, is hand-made, each a work of art in its own right.

From the ballroom, move aft past the full-height windows, circular lounge and onto the aft deck, where a spiral staircase leads up to the upper deck and the emphasis on good times continues. Past the buffet lounge is a winter garden with guest dining in open air or climate control, as conditions dictate, then continue down the boardwalk-style sidedecks to the jacuzzi lounge.

After a night of revelry, head to the bridge deck. Take the rivetted-aluminium spiral staircase or the elevator, which runs from the tank deck, home to the Radio City-inspired cinema with popcorn maker, to the bridge deck, and you’ll find a gym overlooking the aft helipad (there is a second on the foredeck). Sweat it out in the hammam or have a massage in the beauty salon. After that, the sun deck beckons, with its 7m (23ft) oval pool with skylights filtering natural light into the lobby below. Then soak up the sun or snooze in the shade on the sunpads and sun lounges.

To get ashore, take the elevator to the lower deck lobby where one of two 10m (32.8ft) tenders is waiting to take you wherever you want to go. For using an armada of watertoys however, the place to be is the 4m (13.1ft)-deep swim platform, complete with hydraulic bathing steps.

The full-beam owner’s suite, forward on the main deck, is similarly bewitching. Accessed from the main deck or via a glass spiral staircase from the owner’s private observation lounge and office on the upper deck. The circular sweep of the windows and their wraparound views is echoed in the black circle in the carpet and the recessed lighting overhead. A spectacular his-and-hers bathrooms in contrasting marbles features a bath and a steam shower and one of the walk-in wardrobes can be concealed should her new owner wish to operate her commercially.

With a range of 6,000nm and Quantum stabilisers, this impeccably maintained 2,667GT yacht, defies limits on what is possible.

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Key features

• Beautiful exterior and interior designed by Winch Design
• Accommodates up to 14 guests in 7 staterooms
• Master suite with private outdoor jacuzzi, two VIP staterooms, 3 double cabins and a twin-berth cabin
• Watersports including fishing equipment, kayaks, 4 x wave runners and full complement of diving equipment
• Built by Luerssen with steel hull, aluminium superstructure
• Touch and go helicopter platform
• Swimming pool with a separate jacuzzi
• Indoor and outdoor cinemas

Featured yachts

MOONLIGHT II

EUR 68,000,000

• Length: 91.4m (299.9ft)
• 36 guests in 18 cabins
• Built: 2005 (refitted 2020), Neorion Syros Shipyards, Greece

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How Much Does a Superyacht Cost?

21st apr 2024 by samantha wilson.

Superyachts are some of the most astounding machines on the planet. Their innovation and luxury have fascinated us for decades as we’ve watched them grow in length—and cost—by the year. Today, some of the most expensive yachts in the world can measure a staggering 590 feet and cost hundreds of millions of dollars. Yet the purchase price is just the beginning, and you need to have extremely deep pockets to consider owning a superyacht. Here we take a closer look at how much it costs not just to build or buy a superyacht, but to run it, as well as the price of chartering one of these magnificent vessels. 

Superyachts are some of the most expensive luxury items on the planet and the largest ones can cost hundreds of millions of dollars. 

The Cost of Buying a Superyacht

There are 5,396 superyachts (classified as over 98 feet in length) gracing our oceans as we speak according to SuperYacht Times reporting in 2022. It’s a surprisingly small number when you consider the vast industry that supports them. Although when we look at the cost of owning a superyacht—the build or purchase price , as well as the annual ownership costs—it perhaps shouldn’t come as quite such a surprise. Superyachts are expensive! In fact, they’re one of the most expensive luxury items in the world, and some of the largest superyachts cost not just millions but hundreds of millions to build. 

The gargantuan Azzam holds the title of the world’s largest superyacht (for now), and at 590 feet long, it is huge. (See our analysis on Superyacht versus Megayacht .) The industry has estimated it cost $600 million to build, a figure that few people in the world can afford. One of those people is Russian billionaire Roman Abramovich, whose 533-foot superyacht Eclipse cost an estimated $700 million to build in 2009. Jeff Bezos' recently completed the 417-foot superyacht Koru for an estimated $500 million.

While the largest superyachts hit headlines with their jaw-dropping sizes and build prices, the term “superyacht” covers a broad spectrum of sizes, from the smallest 80- to 100-foot (30-meter) yachts straight up to 230-foot yachts (70 meters) and on to those in the 330-foot (100 meter) range. According to Triton Charters, a good rough estimate for a small, custom-built superyacht is $1 million for every 3.3 feet in length. That means a custom 100-footer might cost $30 million. The formula is less likely to work for a larger superyacht, however, such as a 330-footer that could easily have a price tag of $275 million. 

When discussing prices it’s important to point out that custom and semi-custom vessels built in a production series hull) superyachts will vary in price accordingly. Many brands such as Princess Yachts or Sunseeker offer a production hull with a range of customizable options, from the layout to the finishings. The specifications chosen may increase the final price 20 percent or more. Even so, a new 130-foot semi-custom superyacht might cost in the region of $12-15 million, less than half what a fully custom yacht would cost due to being built from scratch from the very design upwards. 

Pre-owned superyachts of reasonably large size are likely to sell for prices in the $20 to $30 million range, according to a report by Insure4Boats. Older yachts on the market may fetch prices as low as $1.5 million to $2.5 million for a 15- to 20-year-old 90-foot superyacht. 

Superyachts vary hugely in size, from 100 feet to the largest at 590 feet in length. 

Cost of Owning a Superyacht

Buying a superyacht is one thing, keeping it running is quite another. Where the industry once used the figure of 10 to 12 percent of the price of the boat in running costs per year, today that figure has risen to closer to 20 percent, according to Insure4Boats. So what goes into the running of a boat and why does it cost so much?

As we’ve seen, the sale prices of used yachts vary widely, from $11 million in the 130- to 160-foot category, $24 million in the 160- to 230-foot category, and perhaps $80 million for yachts of 230 feet or more. The running and maintenance costs of any vessel always need to be taken into account when looking at luxury yachts for sale , but when we’re talking superyachts for sale, the figures rise exponentially. 

• Fuel: One of the biggest expenses is fuel, as superyachts are thirsty machines. As an example, a 230-foot yacht will use around $2,000 of fuel per hour while underway at 20 knots. A smaller yacht will use much less fuel, so a 150-foot yacht will use around 150 gallons per hour at a rough cost of around $500/hour. Assuming a figure of 500 hours of cruising time a year, that’s a total of $250,000 (excluding all the time spent at anchor with generators running). 
• Dockage: Dockage costs for the largest superyachts can be extraodinary, and at any size point they will still be one the biggest expenditures. Prices are based on the length of the yacht per night. The more sought-after and prestigious addresses will carry the largest price tags, with $4,000 per night in the high season commonplace according to the Luxury Yacht Group. Towergate Insurance estimates that docking fees for larger boats can run up to $350,000 per year. 
• Crew Salaries: Depending on the size of the superyacht, a full-time crew is usually required, and the size of that crew goes up with the yacht size, ranging from three or four members to in excess of 70 members. From the captain all the way down, the total sum of crew salaries will add up. A comparatively modest 150-foot superyacht could have an annual crew salary of $800,000 according to Luxury Yacht Group, which is around 45 percent of the total annual running costs. 
• Maintenance: The upkeep and maintenance of these behemoth yachts is constant and, according to CNN, the annual estimated maintenance costs for Azzam are around $60 million. A much smaller yacht would of course be quite a bit less, but the same yacht maintenance costs need to be factored in. Add to that surveys every few years, which can run into the hundreds of thousands. 
• Provisions: Whether the boat is being used by the owner or for charter, there will be a significant cost to provisioning, both for high-profile guests and the crew. Food, alcohol, flowers, water sports equipment, and much more will all be of the highest caliber and run into the hundreds of thousands of dollars. Consider that a single jet ski to run off the back of the yacht can cost between $5,000 and $20,000. 
• Insurance and administration: The insurance on a 150-foot yacht would be around $73,000 annually, according to Luxury Yacht Group, with management and administration costs on top of that. 

The annual maintenance and running costs of superyachts can run into the millions including crew salaries, fuel, and dockage fees. 

How Much Does it Cost to Charter a Superyacht

If the numbers above have got you reassessing whether superyacht ownership is right for you, then fear not. Chartering a superyacht can be a stress-free way to enjoy the luxury yachting lifestyle with more predictable prices. The cost of chartering a yacht will depend on several factors such as the size and age of the yacht, the destination, the length of the charter, and the level of provisioning required. 

Superyachts usually operate on a pricing structure that is based on the base cost of chartering the yacht including the crew, facilities, and insurance. Other expenses such as fuel costs, food and drinks, special events, and dockage, which will all vary from charter to charter, are charged in advance in what is known as an Advanced Provisioning Allowance (APA).

According to Northrop and Johnson, superyacht charters can cost anywhere from $150,000 per week to over $2 million per week plus expenses. The 278-foot yacht O’ptasia , for example, has charter prices starting at $868,000, while 196-foot Scott Free starts at £395,000 per week.

Buying a Superyacht

If you think purchasing a superyacht might be right for you some day, read our  Top Tips on How to Buy a Superyacht  and our article on  Superyachts 101: All Your Questions Answered . You can get started by browsing for superyachts for sale and megayachts for sale on Rightboat. 

Written By: Samantha Wilson

Samantha Wilson has spent her entire life on and around boats, from tiny sailing dinghies all the way up to superyachts. She writes for many boating and yachting publications, top charter agencies, and some of the largest travel businesses in the industry, combining her knowledge and passion of boating, travel and writing to create topical, useful and engaging content.

More from: Samantha Wilson

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How Much Does a Superyacht Cost? (The Surprising Truth)

Who hasn’t dreamed of owning a superyacht? After all, these vessels are the ultimate symbols of luxury and success, often seen in the hands of the world’s wealthiest individuals.

But what exactly does a superyacht cost? In this article, we’ll uncover the surprising truth behind the prices of these magnificent vessels.

We’ll look at the cost of smaller and larger superyachts, the factors that can affect the prices, the most expensive superyacht ever built, and how to get the most for your money.

So, if you’ve ever wondered how much a superyacht costs, read on!

Table of Contents

Short Answer

The cost of a superyacht can vary greatly depending on the size, amenities, and features the yacht includes.

Generally, a superyacht can cost anywhere from a few million dollars to over $100 million.

The cost of the yacht can also depend on the type of materials used and the level of customization.

For example, a superyacht with a helipad, multiple decks, and luxurious furnishings can cost significantly more than a basic superyacht.

What Is a Superyacht?

A superyacht is a luxurious, multi-story, multi-million dollar vessel, typically used for leisure and pleasure-seeking.

They are often custom-made to meet a buyer’s exact specifications, and can feature a variety of amenities, from helipads to private spas and cinemas.

They are usually powered by multiple diesel engines, and can have a top speed of over 20 knots.

Superyachts are owned by some of the world’s wealthiest individuals, and are often used for luxury cruises, parties, or even business meetings.

The cost of a superyacht can vary greatly depending on its size, amenities, and other features.

Smaller superyachts can range in price from a few million dollars up to tens of millions.

Larger vessels, meanwhile, can cost hundreds of millions of dollars.

The most expensive superyacht ever built, the History Supreme, sold for a staggering $4.5 billion.

Ultimately, the cost of a superyacht is determined by its buyer’s individual preferences and budget.

Smaller Superyacht Prices

When it comes to the cost of a superyacht, it is important to consider the size of the vessel.

Smaller superyachts, such as those measuring up to 50 meters, can range in price from a few million dollars to tens of millions of dollars.

These vessels are usually built with luxury in mind, featuring features like multiple decks, salons, bedrooms, bathrooms, and other amenities.

Many also come equipped with a variety of recreational features such as swimming pools, spas, and sports facilities.

Because of their smaller size, these superyachts are typically less expensive to maintain and operate than larger vessels.

They are also easier to transport and maneuver.

However, they don’t offer the same level of luxury and amenities as larger superyachts.

The cost of a smaller superyacht will also depend on its age, condition, and the features it includes.

For instance, newer models may come with more modern features and amenities, such as satellite TV and Wi-Fi, which can add to the overall cost.

Similarly, superyachts with higher-end materials, such as marble or teak, will also cost more.

In addition to the purchase price, buyers should also consider the cost of maintenance, repairs, and upgrades.

Smaller superyachts may require more frequent maintenance, as well as additional costs for fuel and staffing.

For those looking to purchase a smaller superyacht, it is important to factor in these additional costs when deciding on a budget.

Larger Superyacht Prices

When it comes to superyachts, size really does matter.

While smaller superyachts can range in price from a few million dollars up to tens of millions, larger vessels can cost hundreds of millions of dollars and even more.

In fact, the most expensive superyacht ever built, the History Supreme, sold for an astonishing $4.5 billion!

The cost of a larger superyacht is determined by the size of the vessel, the number of amenities and features it offers, and the quality of the materials used in its construction.

The more luxurious the vessel, the higher the price tag.

For example, a well-appointed, 320-foot superyacht with all the bells and whistles can easily cost in the hundreds of millions of dollars.

In addition to the cost of the vessel itself, there are also ongoing operational costs associated with owning a superyacht.

These can add up quickly and include fuel, maintenance, crew salaries, insurance, dockage, and more.

However, these costs can vary greatly depending on the size and type of vessel, as well as the number of amenities and features it offers.

When it comes to superyachts, the sky truly is the limit.

Whether youre looking for a smaller vessel or a multi-million dollar mega-yacht, the cost will ultimately be determined by your individual preferences and budget.

Factors That Affect Superyacht Prices

When it comes to the cost of a superyacht, there are several factors that can affect the final price.

The size of the vessel is one of the primary considerations, as larger yachts typically cost more than smaller ones.

The amenities and features of the yacht can also influence the final cost.

For instance, a yacht with extensive customizations (such as a Jacuzzi or helipad) or high-end materials (such as carbon fiber or mahogany) may cost more than a standard yacht.

Additionally, the cost of maintenance and upkeep should be taken into account, as these can quickly add up over time.

Finally, the buyer’s individual preferences and budget will play a significant role in determining the total cost of the superyacht.

The Most Expensive Superyacht Ever Built

The most expensive superyacht ever built is the History Supreme, a 100-foot-long vessel that sold for a staggering $4.5 billion.

The luxurious yacht was commissioned by Robert Kuok, a Malaysian tycoon, and it took three years to build.

The exterior of the superyacht is made from solid gold and platinum, while the interior is adorned with a wide range of luxury features, including a statue made from genuine Tyrannosaurus Rex bones.

The luxurious amenities also include a master suite with a Jacuzzi, a wine cellar, and a helipad.

The History Supreme is a truly remarkable vessel and it is the epitome of opulence and excess.

It is an excellent example of how much a superyacht can cost when a buyer has a virtually unlimited budget.

Superyacht Amenities and Features

The cost of a superyacht is determined by the size, amenities, and features the buyer chooses.

Superyachts come with a variety of amenities and features that can add to the cost, such as luxurious interiors, multiple decks, state-of-the-art technology, and more.

Luxury interiors may include marble floors, custom-made furniture, and high-end appliances.

The number of decks can range from two to seven, with each deck offering different activities and amenities.

Superyachts can also come equipped with spas, fitness centers, hot tubs, swimming pools, movie theaters, and private areas for entertaining.

State-of-the-art technology can include advanced navigation systems, satellite communications, and high-end audio and visual systems.

The features and amenities of a superyacht will add to the overall cost and can range from a few million dollars to hundreds of millions of dollars.

How to Get the Most for Your Money

If youre looking to purchase a superyacht, youll want to make sure you get the most bang for your buck.

While the cost of a superyacht can vary greatly, there are certain factors that can help you get the most for your money.

First and foremost, its important to consider the size of the yacht.

The larger the vessel, the more expensive it will be.

However, if youre looking for something luxurious and comfortable, then a larger yacht may be worth the investment.

Additionally, if youre looking to entertain guests, a larger yacht can provide more space for them.

Amenities and features are also an important factor when it comes to determining the cost of a superyacht.

If youre looking for something that has all the bells and whistles, then you can expect to pay more.

This includes things like a helipad, swimming pool, Jacuzzi, and other luxuries.

Additionally, you may want to consider the number of crewmembers youll need.

The more crewmembers you have, the more expensive the yacht will be.

Finally, its important to consider the cost of maintenance and upkeep when determining the cost of a superyacht.

Superyachts require a lot of maintenance and upkeep, and the cost of these services can add up quickly.

If youre looking to get the most for your money, it may be best to purchase a yacht that is easy to maintain.

Ultimately, the cost of a superyacht varies greatly depending on its size, amenities, and other features.

By considering the size, amenities, and maintenance costs of a superyacht, youll be able to get the most for your money.

Final Thoughts

Whether youre looking for a smaller superyacht or something larger, understanding the various factors at play can help you get the most for your money.

From extra amenities to the latest features, luxury superyachts can provide a one-of-a-kind experience.

So if youre ready to explore the world in style, start exploring the cost of your dream superyacht today!

James Frami

At the age of 15, he and four other friends from his neighborhood constructed their first boat. He has been sailing for almost 30 years and has a wealth of knowledge that he wants to share with others.

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How much does it cost to purchase a superyacht?

Superyachts are amongst one of the world’s most exclusive purchases, with the finest vessels costing hundreds of millions of dollars. A luxury yacht is the ultimate lifestyle purchase for the world’s richest, offering flexibility, exclusivity, and the freedom to discover the world's hidden gems in unparalleled luxury.

While owning a superyacht comes with a plethora of benefits, many aspects come into play when deciding to purchase one. Working with a knowledgeable yacht broker, such as the team at Yachting Partners International, can help assist you in your search, by providing expert advice and guidance throughout your entire yachting journey.

The cost of buying a superyacht can vary considerably depending on the size, yacht and amenities you wish to purchase.

In general, the smaller the yacht, the lower the price, with superyachts of 24m or more usually attracting asking prices of over €1m, going up to an average of €11.42m in the 40m-50m category, €24.15m in the 50m-70m category and an average of €81.2m for yachts of 70m+.

Purchasing a motor yacht also tends to cost more than a sailing yacht. However, this is often because many sailing yachts on the market are older; a brand-new sailing yacht will still demand a high price.

It is also important to note that semi-custom yachts are often less expensive than customised superyachts. Of course, yachts decked out with beach clubs, sports courts, spas, fitness suites, and a toy box full of the latest water toys can cost much more.

Jeff Bezos's new 412-foot vessel is estimated to cost about US$500 million to build, and Elon Musk's first luxury Model Y Tesla yacht is ready to set sail, costing around $700 million.

What are the benefits of owning a superyacht?

An indication of prestige, few things match the experience of owning a superyacht. Each year, the world's best shipyards are taking shipbuilding to new levels of luxury, implementing the best design materials, advanced technologies, world-class amenities and environment-friendly features to meet the needs of discerning yacht owners.

Almost all luxury superyachts boast elegant onboard interiors, spacious saloons, and sublime sundecks. However, the world's largest superyachts offer amenities that can often rival a luxury resort, including swimming pools, helipads, wellness centres, private cinemas, beach clubs, sports courts, dive centres and more.

There is also the unparalleled level of service that goes into the onboard experience. From onboard chefs to specialist spas, the service goes above and beyond.

Superyacht owners are also treated with privacy and freedom, allowing them to beat the crowds and explore the world's blue water havens as and when they please.

The current superyacht market

Superyacht sales have boomed throughout the pandemic. According to figures in the latest edition of Boat International's Global Order Book, more than 1,200 superyachts are scheduled to be built in 2022 – a rise of 25% from last year. Currently, the total number of sales for 2022 stands at 33, with a combined value of €418m.

According to the Superyacht Group, the number of vessels delivered has grown 50% from 2020, with more than 700 superyachts sold in 2021.

The superyacht market boom is said to be a reaction to the pandemic as UHNW individuals seek ultra-private forms of transportation and accommodation, prioritising safety and hygiene.

Another factor to consider is the simultaneous advancement of technology and the fact that people can work from anywhere in the world, be it from home or the sundeck of their yacht whilst on vacation in the Bahamas.

Are there any hidden costs to owning a superyacht?

There's a range of extra costs to consider when purchasing a superyacht. Once you agree on a deal with your yacht broker, you can expect to pay around 10% of the yacht's value in annual operational costs, including crew, deck, engineering, fuel, insurance, maintenance and harbour expenses. Approximately 45% of the yearly budget is crew related, making up a large proportion of the overall costs.

Most owners choose to instruct an experienced yacht management company, such as the team at Yachting Partners International, who manage the day-to-day operations of the yacht, including crew, finance, compliance, maintenance and refits. This provides owners with worry-free yacht ownership enabling them to spend more time doing what they love.

Should I buy or charter a superyacht?

Depending on your preferences, many will vouch for owning a superyacht over chartering one. Of course, there are plenty of perks to chartering a yacht, and it's entirely down to the individual's needs and what they're looking for. For a prearranged vacation, chartering a yacht is a breeze with far less responsibility than owning a yacht.

However, nothing can beat the spontaneity and flexibility that comes with yacht ownership. You can travel on a whim with minimal notice with a bespoke itinerary tailored to your needs. The familiarity of having your own captain and crew is another perk as they can offer customised experiences based on your preferences.

Should I buy a new build yacht?

Purchasing a new build yacht is another approach to consider. The beauty of a new build means you can customise a superyacht to your style before it's even been built, meaning you can create your dream yacht and add just about anything – from helicopter landing pads to open-air cinemas.

Many billionaires have stamped their image on their vessels. Apple founder Steve Jobs created a sleek minimalist yacht reminiscent of his brand’s iconic products, while chemicals tycoon Sir Jim Ratcliffe designed an expedition-style ship that can carry helicopters and mini-subs.

However, it is worth bearing in mind that building a superyacht from scratch will invariably be more costly than buying a ready-built yacht. According to Forbes, a custom built 100-metre superyacht costs around $275 million. Additionally, custom yachts have a far longer lead-time, taking several years to design and build.

Alternatively, another popular option is a semi-custom superyacht. This allows for the best of both worlds, offering faster lead times and reduced costs, as well as the flexibility to personalise the yacht to your exact tastes and lifestyle.

Building a custom superyacht can be a superb experience when you work alongside a reputable yacht brokerage. Highly skilled agents are able to assist with all aspects of project management, including the technical and financial performance, surveys, classification, flag and technical regulatory paperwork and the delivery of the yacht.

Browse our luxury yacht sales fleet today or contact us to find your ideal superyacht.

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Black Pearl

105m Oceanco

Renaissance

REV Ocean 28 18

195m   Vard

Golden Horizon 274 140

162m   Brodogradevna Industrija Split

Flying Fox 22 11

136m   Lurssen

from $4,446,000 p/w eek

Octopus 12 13

126m   Lurssen

from $2,200,000 p/w eek

Kismet 12 8

122m   Lurssen

from $3,000,000 p/w eek

115m   Lurssen

from $2,895,000 p/w eek

Renaissance 36 19

112m   Freire Shipyard

108m   Benetti

from $2,001,000 p/w eek

Dream 36 22

107m   Olympic Yacht Services

from $2,223,000 p/w eek

Black Pearl 14 5

105m   Oceanco

Christina O 34 17

99m   Canadian Vickers

from $778,000 p/w eek

Carinthia VII 12 8

97m   Lurssen

from $1,559,000 p/w eek

97m   Feadship

from $1,778,000 p/w eek

CC-Summer 12 10

95m   Lurssen

from $1,732,000 p/w eek

O'Pari 12 14

95m   Golden Yachts

from $1,190,000 p/w eek

Whisper 12 7

from $1,334,000 p/w eek

Lady S 12 7

93m   Feadship

from $1,556,000 p/w eek

Tatoosh 12 11

92m   Nobiskrug

from $1,056,000 p/w eek

Aquarius 12 7

92m   Feadship

from $1,500,000 p/w eek

Queen Miri 36 18

92m   Neorion

from $1,100,000 p/w eek

Moonlight II 36 18

91m   Neorion

from $717,000 p/w eek

Tranquility 22 11

92m   Oceanco

Lady Lara 12 8

91m   Lurssen

from $1,400,000 p/w eek

90m   Corsair Yachts

from $497,000 p/w eek

Phoenix 2 12 7

90m   Lurssen

from $1,000,000 p/w eek

Athena 10 5

90m   Royal Huisman

from $324,000 p/w eek

90m   Oceanco

Lauren L 36 20

90m   Cassens-Werft

from $750,000 p/w eek *

Barbara 12 7

89m   Oceanco

Samsara 12 7

Maltese Falcon 12 6

88m   Perini Navi

from $490,000 p/w eek

Project X 12 9

88m   Golden Yachts

from $1,223,000 p/w eek

Arctic 12 7

88m   Schichau Unterweser

from $500,000 p/w eek

AQuiJo 12 7

86m   Oceanco

from $561,000 p/w eek

Chakra 24 19

86m   Scheepswerf Gebr. van der Werf

from $531,000 p/w eek

Man of Steel 12 7

Aquila 12 8

86m   Derecktor Shipyards

from $945,000 p/w eek

86m   Abeking & Rasmussen

from $953,000 p/w eek

Sunrays 12 9

from $1,278,000 p/w eek

85m   SilverYachts

from $973,000 p/w eek

Wanderlust 12 8

from $960,000 p/w eek

85m   Lurssen

Grand Ocean 12 7

85m   Blohm + Voss

from $703,136 p/w eek

Meridian A 12 9

O'Ptasia 12 10

85m   Golden Yachts

Solandge 12 8

from $1,111,000 p/w eek

Victorious 12 6

85m   Ak Yachts

from $889,000 p/w eek

Le Ponant 32 16

84m   SFCN

from $506,000 p/w eek

Savannah 12 6

84m   Feadship

83m   Golden Yachts

82m   Abeking & Rasmussen

81m   Feadship

from $1,028,000 p/w eek

Sea Eagle 10 5

81m   Royal Huisman

from $590,000 p/w eek

80m   Oceanco

from $861,000 p/w eek

Elements 12 12

80m   Yachtley

Excellence 12 7

80m   Abeking & Rasmussen

from $1,150,000 p/w eek

My Dragon 12 7

80m   Columbus Yachts

Tatiana 12 8

80m   Bilgin Yachts

Mimtee 12 11

79m   CRN

from $965,000 p/w eek

SS Delphine 26 12

79m   Great Lakes Ew

from $445,000 p/w eek

Amaryllis 12 6

78m   Abeking & Rasmussen

from $770,000 p/w eek

78m   Golden Yachts

from $811,000 p/w eek

Yersin 12 8

78m   Piriou

from $480,000 p/w eek

Legend 22 11

77m   IHC Verschure

from $661,000 p/w eek

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Featured Luxury Yachts for Charter

This is a small selection of the global luxury yacht charter fleet, with 3697 motor yachts, sail yachts, explorer yachts and catamarans to choose from including superyachts and megayachts, the world is your oyster. Why search for your ideal yacht charter vacation anywhere else?

136m | Lurssen

from $4,446,000 p/week ♦︎

115m | Lurssen

from $2,895,000 p/week ♦︎

85m | Golden Yachts

from $1,000,000 p/week ♦︎

88m | Golden Yachts

from $1,223,000 p/week ♦︎

84m | Feadship

from $1,111,000 p/week ♦︎

93m | Feadship

from $1,556,000 p/week ♦︎

Maltese Falcon

88m | Perini Navi

from $490,000 p/week

122m | Lurssen

from $3,000,000 p/week

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• This Revamped 161-Foot Trinity Superyacht Could Be Yours for $16 Million

"La Dea II" is fresh from a refit and looking for a new owner.

Rachel cormack.

Digital Editor

Rachel Cormack's Most Recent Stories

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La Dea II may have notched nearly 20 years on the high seas, but she’s looking fresher than ever.

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The spacious interior is outfitted with five large cabins that can collectively sleep up to 12 guests. Located on the main deck, the expansive, full-beam owner’s suite includes a private study, dual walk-in closets, and a sizable en suite bathroom with double sinks. The four well-appointed guest cabins are located on the lower deck. The two kings and two twins all come with en suites, flat-screen TVs, and plenty of storage space.

Another major draw is the variety of water toys. La Dea II is equipped with kayaks, wave runners, towables, and wakeboards, allowing guests to partake in a range of activities and water sports. La Dea II also has an impressive track record. The proven world cruiser has an impressive nautical mile range and has embarked on many global expeditions to far-flung destinations such as the Galapagos Islands, the Pacific Islands, Australia, and Asia. She has even traveled to exotic spots such as Myanmar and Indonesia.

La Dea II is a smooth operator, too. The superyacht is equipped with Quantum Zero Speed stabilizers, ensuring steadiness and comfort in all conditions. She can also reach a top speed of 22 knots or cruise leisurely at 18 knots.

The best part? La Dea II was just put up for sale with IYC, with an asking price of $15.9 million. Managing partner of IYC Monaco Kevin Bonnie holds the listing.

Click here to see all the photos of La Dea II.

Rachel Cormack is a digital editor at Robb Report. She cut her teeth writing for HuffPost, Concrete Playground, and several other online publications in Australia, before moving to New York at the…

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Mike Lynch and daughter among missing after yacht sinks: What we know about disaster - and 'alarming' potential cause

The British-flagged luxury vessel named Bayesian was carrying 22 people when it got into difficulty off the coast of Sicily. Seven bodies have now been recovered from the wreckage.

News reporter @samuelosborne93

Friday 23 August 2024 12:24, UK

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Seven bodies have been found after a superyacht sank off the coast of Sicily.

Twenty-two people were on board the vessel named Bayesian when it got into difficulty in the early hours of Monday, with 15 people rescued.

Here's what we know about the sinking of the luxury vessel so far.

Follow latest updates on the superyacht sinking

What might have caused the sinking?

The British-flagged luxury vessel, named Bayesian, capsized at around 4.30am local time on Monday morning off Palermo, according to ship-tracking site Marine Traffic.

It sank in as little as 60 seconds with 22 people on board, 12 passengers and a crew of 10, according to the Italian coastguard.

Waterspouts, essentially tornados that form over water, were seen as powerful winds battered the area overnight, local media said.

The yacht may have sunk faster with all the doors open due to the hot weather, Sailing Today magazine editor Sam Jefferson has said.

"I imagine all the doors were open because it was hot, so there were enough hatches and doors open that it filled with water very quickly and sank like that," he said.

Official pictures show air conditioning units in several of the rooms, however, which could counter the suggestion open windows caused the vessel to sink faster.

The huge mast is also likely to have played a role, he added.

What are waterspouts?

Waterspouts typically occur during thunderstorms and can develop very rapidly, within minutes.

Their spin generally reaches wind speeds between 75-200mph, but can reach as high as 300mph.

They can travel at about 10-20mph typically but can reach greater speeds, making them difficult to avoid - especially in something as slow-moving as a yacht.

Matthew Schanck, chair of the Maritime Search and Rescue Council, called the reports of a tornado or waterspout "rare" and "quite alarming".

"The vessel was at anchor in a recognised anchorage," Mr Schanck said.

"Depending on wind direction and the state of the sea, this informs the captain whether it is a safe area to anchor or not. There was nothing that was too concerning, for my eye. All in all, the captain used the information they had to make a safe call."

Who owns the yacht?

The yacht belonged to the family of British tech tycoon Mike Lynch. He was confirmed to have died after rescuers found his body on Thursday. Mr Lynch was on holiday with his 18-year-old daughter Hannah, who is still missing, and his wife Angela Bacares, who was rescued.

Mr Lynch, 59, was known as the " British Bill Gates " and has been in the headlines in recent months over a high-profile fraud case.

In June, a US jury cleared him of all charges, which were related to the 2011 sale of his software company Autonomy to Hewlett-Packard (HP). The yacht trip is believed to have been a celebration of the end of Mr Lynch's legal troubles.

HP accused him of deliberately overstating the value of the company before it was acquired by the American tech giant.

Mr Lynch was extradited to the US to face trial in May last year and spent 13 months under house arrest in San Francisco as he awaited trial on 17 charges of conspiracy and wire fraud brought by the US Department of Justice - which were later reduced to 15 charges. He always denied any wrongdoing and was acquitted.

Read more: Lynch's co-defendant dies days before yacht sinking

Who was on board when the boat sank?

The passengers were largely British and American, with crew members were from New Zealand, South Africa, and Canada.

Charlotte Golunski was among the Britons rescued. Her LinkedIn profile says she is a partner at Mr Lynch's firm Invoke Capital and has worked there since 2012.

Speaking after the ordeal, Ms Golunski told Italian media that she lost her daughter Sofia for "two seconds" amid the "fury" of the sea but was able to retrieve her. She said she held the infant above the waves until the lifeboat was ready.

"Many people screamed. Luckily the lifeboat inflated and 11 of us were able to get on board," she told ANSA.

The girl's father James Emsley also survived, according to Sicily's civil protection agency.

Also on board were Jonathan Bloomer, chairman of investment bank Morgan Stanley, his wife Judy Bloomer, a top US lawyer Chris Morvillo, who worked on Mr Lynch's criminal case, and his wife Neda Morvillo. Divers confirmed on Thursday that their bodies had been recovered.

The yacht's captain James Cutfield survived, along with South African crew members Leah Randall and Katja Chicken.

Recaldo Thomas, a Canadian-Antiguan chef who was working on the boat, was the first to be found dead, the Italian Coastguard confirmed to Sky News.

During rescue efforts, divers saw "corpses through the portholes" of the wreck as they recovered the body of a man at a depth of 50m (164ft), according to Salvo Cocina, the head of the Civil Protection of Sicily.

What do we know about the vessel?

The Bayesian is owned by a company controlled by Mr Lynch's wife.

It was known for its unusual 72.3m (246ft) single mast - one of the world's tallest made of aluminium - and shared its name with the statistical method Mr Lynch's Autonomy software was based on.

It was built by Italian company Perini Navi in 2008 and last refitted in 2020.

It was listed for rent for up to €195,000 (£166,000) a week, according to online charter sites.

The luxury vessel , which was managed by yachting company Camper & Nicholsons, could accommodate up to 12 guests in six suites.

It won a string of awards for its design, according to online specialist yacht sites.

Mr Schanck, of the Maritime Search and Rescue Council, said the vessel would have been equipped with "high standard" life-saving appliances and radio communications.

He added the yacht would have met all international standards and UK Maritime Coastguard Agency regulations before its voyage.

It was previously named Salute, or "health" in Italian, when it flew under a Dutch flag. Its minimalist interior featured light wood with Japanese accents designed by the French designer Remi Tessier, according to descriptions on charter sites.

Keep up with all the latest news from the UK and around the world by following Sky News

What were its last movements?

The boat left the Sicilian port of Milazzo on 14 August and was last tracked east of Palermo on Sunday evening, with a navigation status of "at anchor", according to vessel tracking site VesselFinder.

The Bayesian previously travelled to other parts of Sicily before its last sighting off the coast of the port of Porticello.

On Sunday, the boat was seen off the coast of Cefalu before it travelled towards Porticello, MarineTraffic data shows.

In the days before, the yacht travelled around four of the Aeolian islands, just north of Sicily.

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Prosecutors in the nearby town of Termini Imerese have opened an investigation into the sinking.

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How did the superyacht Bayesian sink? Experts say weather was just one factor

Divers searching for 6 missing people locate 5 bodies inside wrecked yacht's hull.

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A complicated search effort is underway deep beneath the surface of the Mediterranean Sea, off the coast of Italy, where a superyacht sank early Monday during a fierce storm. 

Dive crews are attempting to enter the wreck of the Bayesian, a 56-metre long British-flagged luxury vessel, which is sitting in some 50 metres of water near the Sicilian fishing village of Porticello.

Fifteen of the 22 passengers and crew members on board were rescued. Divers searching for six people considered missing, including British businessman Mike Lynch, located five bodies inside the yacht's hull on Wednesday, and retrieved four of them from the water.

Searchers previously recovered the body of Recaldo Thomas, the ship's Canadian-Antiguan cook, in the water not far from where the Bayesian sank.  

• Diving team finds 5 bodies in Sicily yacht search
• Canadian dead, several others missing after superyacht capsizes off Sicilian coast

Questions have emerged about why a boat designed to handle severe weather sank so rapidly and whether or not some of its features could've been a factor in its demise. Maritime experts say investigations may, in time, reveal what led to the disaster.

"There needs to be an investigation as to why this happened, what went wrong and, you know, how to prevent it in the future cases," said Simon Boxall, an oceanographer and senior lecturer at the University of Southampton in England.

Canadian dead, others missing after superyacht sinks near Sicily

How did the bayesian sink so quickly.

Grainy footage from closed-circuit cameras on the shore broadcast on the website of the Giornale di Sicilia newspaper showed the Bayesian's majestic mast just before it disappeared. 

Karsten Borner, captain of the Sir Robert Baden Powell, which rescued the survivors who managed to get into a lifeboat, told The Associated Press he was close enough to be able to see the Bayesian as the storm came in.

"A moment later, she was gone," he said.

The survivors told the rescuers they went flat on the water "and were sunk in two minutes."

Boxall said vessels rely on being able to steer and navigate stormy seas, but the Bayesian was anchored and stationary, which likely made it more vulnerable to the storm and, potentially, a waterspout , or mini tornado that creates a whirlwind over the surface of the sea. 

He said it was also dark, meaning "you wouldn't see this sort of very unique event coming towards you."

CCTV footage shows yacht Bayesian as deadly storm strikes

"It's a freak of nature," Boxall said. "I think the fact that so many have survived, so far, is probably a miracle."

Tom Sharpe, a retired Royal Navy commander and defence commentator, told CBC News the weather was likely not the only issue.

He says it's rare that a weather event like this takes down a boat. 

"There's nearly always a sequence [of events]," he said in an interview from Guildford, England, explaining that everything from safety protocols to the culture on board the vessel needs to be taken into account. 

Was the boat's design part of the problem?

The Bayesian was built in 2008 by Italian luxury yacht maker Perini Navi.

Andrea Ratti, a nautical design professor at Milan Polytechnic, told Reuters that a boat the size of the Bayesian could only sink so rapidly by taking on a huge amount of water. 

He suggested that one or more portholes, windows or other openings may have been broken or smashed open by the waterspout, letting in water. There has also been media speculation that a major hatch might have been inadvertently left open.

Reports have also highlighted that the Bayesian featured a 72-metre mast — one of the tallest in the world. 

Ratti said an unusually tall mast is not by itself an element of vulnerability in a storm. 

A second expert, structural engineer Filippo Mattioni, was also skeptical about the suggestion the boat may have sunk due to a broken mast, which likely would have caused major damage smashing against the hull.

Fire department diver Marco Tilotta told the newspaper Il Messaggero that the wreck was "apparently intact," with "no gashes, no signs of impact." However, only half of the hull is visible to divers.

The Bayesian also had a retractable keel — the fin-like structure under the hull that helps stabilize boats and acts as a counterweight to the mast. 

Both Ratti and Mattioni wondered if the yacht had been anchored with the keel up, reducing the vessel's depth under water and making it less stable. Ratti said strong winds might have caused the boat to start oscillating wildly, "like a pendulum," putting exceptional strain on the mast.

Sharpe pointed out that a mast the size of the Bayesian's is designed for a massive sail, and without that sail raised and catching the wind, the gusts likely would've had a negligible impact on the aluminum pole.

• What we know about the capsized superyacht off the Sicilian coast

He instead suggested the anchor may have played a pivotal role.

"My kind of working assumption is that she was probably a bit further in at anchor, and it's very likely, in these sort of conditions, that her anchor dragged," he said. 

In such a situation, he said, a crew is better off steering toward the anchor to stabilize the vessel or raising the anchor and heading out to sea to ride out the storm.

"They might have got caught in that middle ground where they're not on a particularly good anchorage, but the anchor is now controlling the bow of the ship."

Sicily superyacht rescue: What divers are up against | About That

What caused the extreme weather.

Although Sharpe says the weather is unlikely the sole cause of the sinking, he notes the Mediterranean isn't the calm sea often pictured in travel brochures. 

"It can get pretty nasty," he said.

The type of storm that struck Monday is fuelled by warm water and the Mediterranean is warmer than ever, said Boxall, noting there's been about a three and a half degree increase in the 20-year average temperature.

'The ship behind us was gone,' says captain who rescued yacht passengers

Climatologists say global warming is making such violent and unexpected tempests more frequent. 

Luca Mercalli, president of Italy's meteorological society, said the sea surface temperature around Sicily in the days leading up to the shipwreck was about 30 C. 

"This creates an enormous source of energy that contributes to these storms," he told Reuters.

ABOUT THE AUTHOR

Senior Writer

Nick Logan is a senior writer with CBC based in Vancouver. He is a multi-platform reporter and producer, with a particular focus on international news. You can reach out to him at [email protected].

With files from The Associated Press and Reuters

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$1.9m price drop on 29m Rybovich motor yacht III Amigos

A  price drop of $1,995,000 has been made on the 28.6-metre Rybovich custom sportsfish yacht III Amigos , on the market with Galati Yacht Sales .  

Designed by Michael Rybovich & Sons , who also completed the naval architecture, her stunning interiors were conceived by Bahamian-born, award-winning interior designer Patrick Knowles Designs and fabricated by Metrica of Germany.

In addition to her top pedigree yacht builder, III Amigos has had "every painstaking detail thought of during her build by the experienced yacht owner, captain and crew", according to the broker.  

Rooms feature materials chosen for their lightweight quality, with custom marble finishes and wallpaper throughout, teamed with wood accents including lime-finished oak, eucalyptus, jewel-boxed redwood burl, teak, and wenge.

The spacious, light-filled saloon comes complete with a large U-shaped sofa with storage underneath and a cocktail table, while the dinette galley boasts custom alligator bar stools and Ferrari Cockpit-inspired Dinette seating. 

Accommodation on III Amigos is arranged over five cabins with seven bathrooms. The full-beam six-metre master stateroom features a kingsized bed with storage while the spacious ensuite bathroom is finished in blue Azul Bahia granite with heated stone floors. 

The aft deck, which hides the engine room access and two bait freezers, offers plenty of choice for guests to relax, socialise and enjoy al fresco dining. The cockpit features a day head with a window, lounge seating with air conditioning and a table for mezzanine seating. Bait freezers, fishbox storage, a custom lead and tackle storage and a Bluewater fighting chair complete the mix.

The 29-metre yacht for sale is powered by twin MTU 2,600hp engines.

III Amigos is now asking $17,995,000.

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Who Was on the Sunken Yacht? Tech Mogul Mike Lynch, His Family and Friends.

Mr. Lynch, the former chief executive of the software firm Autonomy, who was acquitted on fraud charges in June, was with friends and family when the yacht went down in a severe storm.

• Share full article

By Michael J. de la Merced

Michael de la Merced reported on Mike Lynch’s career and legal battles over the course of 13 years across two continents.

A cruise on the Mediterranean Sea aboard a superyacht was supposed to be a celebratory event for the British tech entrepreneur Mike Lynch , who was acquitted in June of fraud charges tied to the sale of his company, Autonomy, to the tech giant Hewlett-Packard.

Instead, it turned into a disaster after the yacht, a 180-foot boat called the Bayesian, sank off the coast of Sicily in a violent storm. Of the 22 people aboard, 15 were rescued and seven others died . Search operations ended on Friday after the final body was recovered from the site of the sunken yacht .

Here’s what we know about the passengers.

Mike Lynch and his family

Mr. Lynch, 59, is a British software entrepreneur who had once been described as his country’s Bill Gates. He founded the software firm Autonomy, which analyzed clients’ unorganized data, and turned it into one of the most prominent British technology companies of its time. He became a widely known corporate leader, who advised David Cameron, the British prime minister at the time, and joined the board of the BBC.

In 2011, Mr. Lynch sold Autonomy to Hewlett-Packard for $11 billion, which was far above its market value, earning him hundreds of millions. But HP investors almost immediately soured on the transaction, and the American tech giant quickly fired its chief executive — and then Mr. Lynch.

HP later accused Mr. Lynch of misleading it about the state of Autonomy’s business, setting off a decade-long legal ordeal for the British executive, who denied the accusations. U.S. prosecutors charged him and other executives with fraud, and Autonomy’s chief financial officer was convicted in 2018.

Despite appeals to the British government, Mr. Lynch was extradited to the United States last year and was confined to a townhouse in San Francisco ahead of his criminal trial, which began in March. Facing the possibility of decades in prison if convicted, Mr. Lynch and another colleague were instead acquitted of all charges.

An official in Palermo, Sicily’s capital, said on Thursday that Mr. Lynch’s body had been recovered. His wife, Angela Bacares, 57, accompanied him on the yacht, and she was rescued on Monday when it sank. She was a consistent presence at his trial in the United States. Records show that she controlled Revtom, the company listed as the owner of the Bayesian.

The body of Hannah Lynch , Mr. Lynch and Ms. Bacares’s 18-year-old daughter, was thought to be recovered on Friday.

The other guests

Jonathan Bloomer, 70, chair of Morgan Stanley’s international arm and the chairman of Hiscox, an insurance provider that trades on the London Stock Exchange, was on the yacht when it sank, along with his wife, Judy Bloomer, 71. Their bodies are thought to be among those recovered, but Italian authorities have not identified them.

Christopher J. Morvillo, 59, a New York-based partner at the international law firm Clifford Chance, was also on the yacht. A former federal prosecutor who comes from a family of prominent lawyers, Mr. Morvillo represented Mr. Lynch during his criminal trial in San Francisco. His wife, Neda, 57, was with him on the yacht. Their bodies are also assumed to be among those recovered.

“We are in shock and deeply saddened by this tragic incident,” a representative of Clifford Chance said in a statement.

Surviving passengers rescued from the yacht include Charlotte Golunski, a partner at Mr. Lynch’s venture firm, Invoke Capital; Ms. Golunski’s husband, James Emslie; and their one-year-old daughter Sophie. Also rescued were Ayla Ronald, a lawyer at Clifford Chance, and her partner, Matthew Fletcher.

The yacht had a crew of 10, and nine were rescued. The body of the chef, Recaldo Thomas, was recovered from the water, the Sicilian Civil Protection Department said.

Elisabetta Povoledo contributed reporting, and Kitty Bennett and Susan Campbell Beachy contributed research.

Michael J. de la Merced has covered global business and finance news for The Times since 2006. More about Michael J. de la Merced