December 16, 2025

One online dictionary defined “luxury” as a condition of abundance, or great ease and comfort. Another dictionary actually included the example of owning a yacht as a definition of luxury. What got me thinking about this topic was an article sent to me by Kaloyan Tadulov, CEO of OMAYA Yachts. In the article, he wrote that the definition of a “status-symbol” object was owning a yacht. While the article was an interesting and well-written introduction to their OMAYA Yachts, it certainly got me thinking.

I started looking for ideas and opinions about luxury and how the idea of luxury applies to our broader market for boats. Ed Slack, Editor-in-Chief at IBI recently wrote in his column that “Boat owners will pay better for service – and they will stay in boating longer”. Slack also quoted Alberto Galassi, CEO of the Feretti Group who said “Too often, one-star and five-star marinas charge the same. Marinas must treat boat owners like hotel guests”.

Do any of our marinas in Central or Eastern Canada treat their guests like they were at the Four Seasons? I know there are some very impressive marinas, but can we cater to the individuals who actually have a million to buy a new 40-footer?  Can we meet the expectations of those high-end hotel guests, people who take Viking Cruises through Europe, or who ski the Alps?

Or, do we need to? Is our country so beautiful that the boating experience itself meets all expectations?

Also, I wonder if the love of boats and boating transcends matters of personal wealth. A good friend with an old sailboat, has met and become friends with others cruising the same area of the Caribbean in their million-dollar power yachts. It was the experience and the shared boating knowledge that formed the friendship.

For some time, I have been concerned by the rising prices of new boats. I understand why this is happening. We are seeing bigger boats, more powerful engines and an amazing increase in leading-edge technology. Those could all be considered “luxuries”.

The major changes in styling and hull design are other factors. It seems reasonable that having a distinctly different boat, is an expression of luxury too. It’s a way of standing out. Being the first one to have a “Scandinavian adventure boat” certainly makes a statement about the owner.

The same could be said of the boat owner who restores a wooden classic. I think many would describe that as a luxury. And again, the shared interest in wooden classics is something that transcends wealth and class. Through the Antique and Classic Boat Society, I have known many professionals who want to get into the bilge and get their hands dirty.

One thing seems certain to me though, boat ownership is a luxury and our owners expect a “luxury” experience. Maybe the most important question is how do we best understand how our buyers define luxury in their world.

Andy Adams – Editor