The Hindu Business Line : Yachting ‘sails’ high on demand from the rich and famous

New Delhi, Feb.8 In the last week alone five swank new yachts, valued at Rs 30-40 crore, were brought to the country for the pleasure of the rich and the famous. And even as more and more affluent Indians take to yachting, boat dealers are resorting to the shared ownership concept to further push the sales.

According to Mr Vishal Chaudhry, Director, Aquamarine Leisure, “We are witnessing a lot of interest for shared ownership of yachts from first-time customers.” Aquamarine Leisure, the exclusive distributor of Princess Yachts in India, has in the past one year already booked four for single ownership, with prices ranging from £2,80,000 to £5,80,000, 35 per cent duty extra.

“In a shared concept, we are looking at ten people to a boat, thus reducing cost of ownership, maintenance, crew and services,” said Mr Chaudhry.

Club Privada, which launched the time share concept a few months ago, already has 48 members, said Yachting Association of India Joint Secretary General, Commodore Ajay Narang.

Depending on the types of boats, the tariffs for sailing could be as low as Rs 16 lakh for 13 days usage per annum for three years.

Pointing out that the after the Mumbai international boat show last year, boats worth about Rs 450 crore have been added in the country, Commodore Narang said that the interest appears to be going up, with three times the space having been booked for the 2008 show.

The Volvo Ocean Race, which is held once every three years, will touch Indian shores in 2009.

It would bring in at least 350 recognised fans, who have followed the last 3-4 races, said Commodore Narang adding that it is being supported by the Kerala Tourism department and Cochin Port Trust.

Apart from that, corporates too are increasingly using yachts as a team building activity. He cited the examples of Colgate and 3i Infotech, adding that others were also looking to follow suit.

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