F1 Racing Competition - Wealthy individuals splurge for a spot on the Monaco yacht racing circuit.
Owning a yacht is an incredibly pricey endeavor. Sailing a yacht also entails significant expenditure. Not only is the yacht itself expensive, but parking costs can be high as well. One prime example is the Monaco Grand Prix, where yacht owners can position themselves right by the race track, immersed in luxury and ready to witness the Formula 1 action up close.
The yacht specialists at "Esysman Superyachts" recently estimated how much it would typically cost to dock in Monaco during a tour of the harbor.
Expensive Even on Average Days
Even without major events, Monaco is not a cheap place. The yacht berth fees in the central Hercules Harbor are calculated based on the overall length of the yacht. For instance, "Esysman" used a ship measuring between 100 and 110 meters to provide an idea of its size. This would make it one of the longest yachts in the world with its elongated bow and stern, appearing in the top 50 rankings.
Off-season, docking in the city harbor costs 1411.20 euros daily. During the main season from May to September's end, it jumps to 2876.40 euros. A whole month's rent off-season comes out to 29,240.40 euros, while the same timespan in the main season is 42,698.40 euros.
For those looking to dock their yachts at the world-famous race in Port Hercules near the track, the fees are much higher. For example, Michael Latifi's mega-yacht "Faith" (IMO 1012828), at 97 meters long, was placed in the front row. Unfortunately, a ship of this size couldn't be directly on the track - the limits stretch up to 90 meters, according to the official price list.
Almost 130,000 euros for a 97-meter yacht
For a week - from May 20th to 27th - Latifi anchored in Zone 1. This puts him just one spot further away than those yachts directly at the shore - still very close. At the current rate (via "Luxury Launches"), this spot cost him 129,990 euros, including taxes. That equates to almost three months in the harbor during the main season.
Latifi could enjoy the fruits of his labor from a premiere spot on the track. His "Faith" features five decks, nine suites, and 34 crew members who cater to the ship's every need. The yacht boasts various fireplaces, a cinema, a pool with a glass bottom, and a snow room for cooling down during those hot days.
Despite the yacht's luxurious amenities, Latifi's vessel likely wasn't the race's top attraction. The "Seven Sins" (IMO 9822827) of Belgian millionaire Hugo Verlinden, featuring a parked Bugatti Chiron for advertising purposes, often made appearances. This ambitious vessel can be rented for approximately 300,000 US dollars per week. During the Grand Prix events, it was employed as a promotional platform for an online brokerage firm.
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Source: www.stern.de
