Yacht Buyers Are Getting Younger, Says Azimut/Benetti Exec
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    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,648,550 (+0.28%)       Melbourne $988,822 (+0.03%)       Brisbane $1,020,726 (-0.64%)       Adelaide $914,186 (-0.77%)       Perth $918,322 (+0.55%)       Hobart $752,338 (+0.20%)       Darwin $724,985 (+2.76%)       Canberra $965,873 (+0.63%)       National $1,063,922 (+0.19%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $766,681 (+0.20%)       Melbourne $495,492 (-0.36%)       Brisbane $620,253 (+2.69%)       Adelaide $482,095 (+5.14%)       Perth $492,667 (+1.01%)       Hobart $529,295 (+1.99%)       Darwin $353,302 (-9.42%)       Canberra $490,687 (-2.02%)       National $552,872 (+0.71%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 13,190 (+173)       Melbourne 16,949 (+88)       Brisbane 8,992 (+72)       Adelaide 2,736 (+53)       Perth 7,238 (+115)       Hobart 1,218 (+2)       Darwin 275 (-10)       Canberra 1,291 (+3)       National 51,889 (+496)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 10,084 (-13)       Melbourne 9,104 (+25)       Brisbane 1,808 (+31)       Adelaide 467 (+3)       Perth 1,643 (+8)       Hobart 214 (+6)       Darwin 322 (-9)       Canberra 1,139 (+4)       National 24,781 (+55)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $800 ($0)       Melbourne $600 ($0)       Brisbane $640 ($0)       Adelaide $610 (+$10)       Perth $670 (-$5)       Hobart $550 ($0)       Darwin $745 (-$5)       Canberra $670 (-$10)       National $669 (-$2)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $730 (-$10)       Melbourne $560 ($0)       Brisbane $620 ($0)       Adelaide $500 (+$10)       Perth $610 (-$10)       Hobart $450 ($0)       Darwin $570 ($0)       Canberra $550 ($0)       National $585 (-$2)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 5,921 (-4)       Melbourne 7,041 (-47)       Brisbane 4,285 (+37)       Adelaide 1,327 (-13)       Perth 2,180 (-15)       Hobart 220 (-7)       Darwin 128 (+12)       Canberra 521 (+14)       National 21,623 (-23)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 9,472 (-41)       Melbourne 6,888 (+150)       Brisbane 2,291 (-19)       Adelaide 383 (+8)       Perth 616 (+7)       Hobart 102 (0)       Darwin 258 (-2)       Canberra 703 (+4)       National 20,713 (+107)                HOUSE ANNUAL GROSS YIELDS AND TREND         Sydney 2.52% (↓)       Melbourne 3.16% (↓)     Brisbane 3.26% (↑)      Adelaide 3.47% (↑)        Perth 3.79% (↓)       Hobart 3.80% (↓)       Darwin 5.34% (↓)       Canberra 3.61% (↓)       National 3.27% (↓)            UNIT ANNUAL GROSS YIELDS AND TREND         Sydney 4.95% (↓)     Melbourne 5.88% (↑)        Brisbane 5.20% (↓)       Adelaide 5.39% (↓)       Perth 6.44% (↓)       Hobart 4.42% (↓)     Darwin 8.39% (↑)      Canberra 5.83% (↑)        National 5.50% (↓)            HOUSE RENTAL VACANCY RATES AND TREND         Sydney 1.3% (↓)     Melbourne 1.3% (↑)        Brisbane 1.1% (↓)       Adelaide 1.0% (↓)       Perth 0.9% (↓)       Hobart 0.9% (↓)       Darwin 0.6% (↓)       Canberra 1.8% (↓)       National 1.1% (↓)            UNIT RENTAL VACANCY RATES AND TREND         Sydney 1.7% (↓)     Melbourne 2.6% (↑)        Brisbane 1.5% (↓)     Adelaide 1.0% (↑)        Perth 0.7% (↓)       Hobart 1.7% (↓)     Darwin 1.2% (↑)        Canberra 3.2% (↓)       National 1.7% (↓)            AVERAGE DAYS TO SELL HOUSES AND TREND       Sydney 29.8 (↑)        Melbourne 31.1 (↓)       Brisbane 31.2 (↓)     Adelaide 25.5 (↑)      Perth 36.2 (↑)      Hobart 31.3 (↑)        Darwin 31.1 (↓)     Canberra 29.1 (↑)        National 30.7 (↓)            AVERAGE DAYS TO SELL UNITS AND TREND         Sydney 29.7 (↓)     Melbourne 32.5 (↑)        Brisbane 30.0 (↓)       Adelaide 23.2 (↓)     Perth 36.8 (↑)        Hobart 32.0 (↓)     Darwin 46.2 (↑)      Canberra 36.6 (↑)      National 33.4 (↑)            
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Yacht Buyers Are Getting Younger, Says Azimut/Benetti Exec

By Shivani Vora
Tue, Jul 16, 2024 10:18amGrey Clock 3 min

In the rarefied world of luxury yacht construction and design, the Viareggio, Italy-based Azimut/Benetti Group ranks high on the list of storied and sought-after names. The company’s clients include multi-millionaires and billionaires globally, and boldfacers such as Bill Gates have chartered its watercrated.

The company comprises two brands: Azimut, which produces smaller yachts that range in length from 10 to 35 meters, and Benetti, a mega- and superyacht producer behind ships from 37 to more than 100 meters long. It’s known for its technological innovations, including the extensive use of carbon fiber as well as hybrid diesel-electric vessels. Prices for the yachts between both brands range from US$1 million to more than US$300 million. Azimut/Benetti has four shipyards, three in Italy and one in Brazil, with the largest in Livorno, in Italy’s Tuscany region.

Paolo Vitelli founded Azimut in 1969 and acquired Benetti in 1985 to form Azimut/Benetti Group. His daughter, Giovanna Vitelli, 48, leads the family-run enterprise today. She spoke with Penta recently about how demand for yachts has increased as of late, its changing customer base, and the amenities on ships that owners most want today.

Penta: Has the demand for your yachts changed over the last few years?

Giovanna Vitelli: Despite initial predictions, the pandemic significantly boosted the yacht industry due to unforeseen mobility restrictions. The desire for freedom led to a surge in demand, and immediately after the COVID-19 lockdowns, every available boat, regardless of size, was sold out. Today, the demand has normalized, but the perception of what a yacht can offer has changed. As a result, our orders stretch to 2028.

Who are your primary customers, and how have they evolved over time?

Owners are now trending 10 years younger than before; they are typically men in their 50s. They are still very wealthy and successful, but unlike the past, where yacht ownership may have primarily symbolized opulence, today’s owner seeks something deeper: a private space to share with family and friends, a floating home with all the personal comforts, to enjoy a closer connection with the sea.

Can you share the amenities your customers want most on their yachts and how they differ from the past?

We are seeing a growing shift toward a more relaxed lifestyle on board. Owners seek areas ideal for sharing with loved ones. They have a preference for longer stays at anchor and want amenities that provide a comfortable, at-home experience. Popular requests include large social bars, extensive wine cellars, full office spaces for remote work, spa facilities, larger storage for water toys, and gym areas. These features blend luxury with functionality.

What are some of the unusual amenities or other requests your customers have requested?

We’ve added unique features such as a wood-burning pizza oven and a flower refrigerator. We even recreated a copy of the Sistine Chapel fresco over the dining table on a Benetti yacht. Another had spectacular interiors made with Lalique glass.

Tell us about the design features of your yachts. What aesthetic do you favor?

Twenty years ago, we began seeking designers from the luxury residential, hospitality, and fashion sectors rather than just the yachting industry. This brought a contemporary twist to a traditionally conservative sector. Each designer infuses the yacht with its own soul, but all have a simple elegance. Our most recent collaboration was with Matteo Thun and Antonio Rodriguez, inventors of eco-resorts, with whom we explored new frontiers for eco-friendly materials on Azimut’s Seadeck   motoryachts .

One design concept that has influenced the lifestyle on board is the Benetti Oasis Deck. Previously, the stern was high and closed, but now, a lowered stern opens to the sea, enhancing the onboard experience.

How does sustainability figure into your designs? 

Sustainability has been a core principle for us for over 20 years, and we started investing early on in technology to reduce fuel consumption. This philosophy continues to drive our innovations. Today, almost our entire fleet offers hybrid technology.

The newly launched Azimut  Seadeck  6 became the most efficient and sustainable yacht ever produced by our group. In fact, the Azimut  Seadeck  Series can reduce carbon-dioxide emissions by as much as 40% in one year of average use compared to traditional yachts of similar size.

Our next goal is to further optimize consumption and emissions from onboard systems, especially for larger boats that spend around 90% of their time at anchor.

Also, our company has an agreement with the energy company Eni to use HVOlution, a biofuel made entirely from renewable raw materials.

Can you explain the concept of shadow yachts and tell us if they’re becoming more prevalent?

Shadow yachts, also known as support yachts or shadow vessels, are auxiliary vessels that accompany a main superyacht, providing additional storage for water toys, helicopters, and vehicles, as well as housing extra crew and guests. Currently, they represent less than 1% of the market.

Where do you see the future of yachts going?

I expect demand to continue at a steady pace in the coming years, especially as more people view yachts as residences rather than just for short trips. We have customers who’ve bought large yachts who anchor them and live in them for several months a year. They might dock in Monaco for six months, for example, and go to the Caribbean for the rest of the year.

This interview has been edited for length and clarity. 



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How to Pick the Perfect Souvenir When Travelling

It’s easy to buy clunkers when you’re caught up in the moment. But regrettable purchases aren’t inevitable.

By KATHLEEN HUGHES
Sat, Nov 9, 2024 4 min

Trying to buy just the right souvenir on a trip is a risky business. You can wind up with a lifetime treasure—or an albatross you feel stuck with forever.

Consider the giant painting of a chicken flying out of Cuba that has been hanging over our couch in Palos Verdes, Calif., for the past 15 years. Buying it cheaply seemed to make sense when we were in Havana, since my husband’s family had fled the country after the revolution.

But the flying chicken just didn’t seem as, well, poignant by the time we returned home and hung the 4-by-7-foot painting. No guest has ever said a word about it. “I can’t help you with the chicken,” an art dealer told me long ago when I asked for help in selling it.

So, how do you find the right souvenir? Or is there even any such thing?

An everyday reminder

For many people, the answer to the second question is an unqualified “No,” and they have stopped trying. “Souvenirs never look as enticing or beautiful as they did at the time of purchase once you get them home,” warns Patricia Schultz, the author of “1,000 Places to See Before You Die.”

After collecting rugs on her trips, then Christmas ornaments, before running out of room at home for both, Schultz says, “I have gone cold turkey. I collect memories.”

But for others, surrendering just won’t do. “It’s intrinsic when people travel that they wind up bringing a keepsake of the journey,” says Rolf Potts, the author of “Souvenir,” a book that traces the history of travel souvenirs back to the earliest recorded journeys.

“It can be a way to show off,” he says. “Much like the envy-inducing travel posts on Instagram.” But for many people, he says, “It’s proof you were there, not only to show other people but also for yourself.”

For those who lean in this direction, there are ways to help avoid regrets. Tara Button , founder of the Buy Me Once website, and the author of “A Life Less Throwaway: The Lost Art of Buying for Life,” suggests focusing on practical items that fit your lifestyle and double as mementos.

As an example, she once bought a “very affordable” baby blanket made from alpaca fiber on a trip to Peru and now uses it every day. The blanket not only reminds her of “the time pre-children when I was traveling,” she says. “It goes over my 2-year-old son every night. It’s always soft and always gorgeous.”

She has a friend who collects one cup from each destination. “Those are perfect memory keepers,” she says. “A small item that is used every day.”

Finding the right scale

One obstacle to finding the right souvenir is that it can be hard to think practically when you are swept up in the excitement of a new culture. Consider the Burmese puppet, 15 inches tall, that has spent about two decades in the closet of Liz Einbinder , head of public relations for Backroads, an adventure-tour company.

“We saw a lot of puppets everywhere and just got caught up in all of the Burmese art and culture,” she says. Now she wonders, “Why did I bring this back? It sits in the back of my closet and I can’t seem to get rid of it. It creeps me out when I see it.”

When that buying urge sweeps over you, Button and other travel experts suggest pausing to consider your lifestyle, taste, needs, and the scale of your home—you’re going back to the reality of your everyday life, after all.

But that doesn’t necessarily mean being entirely practical. Einbinder collects miniatures, mostly miniature houses, from every country, and has more than a hundred. Most are in storage, but she keeps a little London bus and a little Egyptian pyramid on her desk. For her, souvenirs aren’t just about memories, they’re also about the hunt. “It gives me something to search for” on each trip, she says. “That’s half the fun.”

Ignore the hard sell

Another way travelers often go wrong is by giving in to pressure, or at least persistence, from salespeople.

When Kimba Hills, an interior designer, went to Morocco, she hired a guide who took her to a rug store in Fez, where the dealers delivered a whirlwind sales pitch while serving tea. She wound up buying a $4,000 flat-weave Turkish rug, measuring about 13 feet by 9 feet.

“No one in my group could believe I got seduced,” she says.

When the rug finally arrived at her home in Santa Monica, “It smelled like cow dung,” she says. Washing the rug was going to change the color.

When she called the dealer in Fez and demanded her money back, he refused, offering to send her a different rug instead. “We got into a yelling match,” says Hills. “All my skills went out the window.”

Looking back, she says, “You are in a buying mode because you are there and feel like you should buy something.” On a recent trip to Mexico, she bought nothing, explaining, “I’m wiser.”

Sometimes, magic

Spontaneity can cut both ways. There’s the chicken painting. But waiting for inspiration to strike, rather than planning to go home with a souvenir, can still help.

Henry Zankov, a sweater designer, says that when he travels, he explores his destinations with the idea that he won’t buy anything unless he comes across something he loves. He still buys plenty, but says “I don’t have regrets.” At his home in Brooklyn, he has ceramics, vases and glassware from shops he found randomly in Spain, Greece, and Italy. “I buy what I have to have,” he says.

There are times he doesn’t find anything. “So I just give up,” he says. “It’s OK.”

Some souvenirs do become the treasure of a lifetime.

Annie Lucas , the co-owner of MIR, which offers tours to less-traveled destinations, became captivated by a mirror on a trip to Morocco. It was made with hand-pounded silver and pieces of camel bones.

She went back to the store three or four times, debating the cost and whether she would regret it once she got home. It was heavy and measured 24 inches by 40 inches.

“That was 15 years ago, and I still treasure it,” she says. “If I had to get out of my house and had only five minutes to pack, I would grab that off the wall.”

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This stylish family home combines a classic palette and finishes with a flexible floorplan

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