Superyachts just got 'cheaper' in the Med

Superyachts just got ’cheaper’
.. .
If you always hankered after chartering a Superyacht in the Mediterranean but found they were too expensive, this could be your year. The crisis in Europe has left many Europeans thinking about more important issues than lounging around in the Med, and the prices are plummeting.

According to CNBC there's a glut of yachts for charter brought about by the slowing global economy and the Euro crisis.

Yacht brokers have been quoted as saying there are roughly 750 mega-yachts (boats over 100-feet long) docked on the shores of the Med this summer waiting for customers – twice the number of previous years. And there simply aren’t enough rich customers to fill them.

So discounts of 10 to 30 percent are standard, and if you search around you might do even better.

'There is just a flood of boats on the market this summer,' Jonathan Beckett, CEO of Burgess, the yacht-charter and brokerage company told CNBC. 'When you have this kind of supply issue, there is going to be discounting. And some of it is substantial.'

Of course, you'll still have to pay at least $200,000 a week, but such yachts are usually booked solid by late Spring, and it just hasn't happened this year.