Pushing the boat out
If you want to sell a yacht in the mainland, take out its spare bedroom and put in a jumbo karaoke parlour, writes Denise Tsang
As a Russian general once said, quantity has a quality all its own. That aphorism might be used to describe the impact of the monster boats on display last month at the Nansha Marina Boat Show, in Guangzhou.
Distributors displayed some 50 imported yachts that included such fixtures as crystal and jade mahjong tables, 40-inch plasma televisions, karaoke systems and wine cellars.
Vendors were targeting the mainland's swelling ranks of status-obsessed nouveaux riches. According to a RBC Wealth Management/Capgemini report issued in September, the mainland has the fourth biggest population of ultra-high-net-worth individuals (US$30 million-plus) of all nations, and apparently these people want boats.
Each market has its tastes. Mainlanders value large vessels - even though boaters are required to sail within the narrow band of China's territorial waters - because they see them as venues for entertaining.
"The bigger the yacht, the more popular," said Rachel Shi, a sales manager of luxury yachts based in Shenzen.
This has implications for the design and fixtures. Shipyards that target the mainland market might take out the spare bedroom and bathroom to create a giant karaoke parlour.