Lela Mrakovic

Some of the largest, most opulent yachts in the world belong to Arab royalty and businessmen. Only one, Phocea, the largest privately owned sailing yacht in the world, owned by a woman, is available for charter. Arab royalty and oil sheiks, like most Western elite with a taste for a lavish lifestyle, are fond of adding a megayacht or two as part of their big ticket possessions since they constitute the ultimate status symbol. A mega or super yacht is defined as a private luxury cruising vessel that is at least 85 feet in length. Some currently being built are surpassing 450ft! At one time a 75ft boat was considered large. Now even 150ft is seen as modest. The cost can run in the tens of millions of dollars, and annual running expenses can add an average of 10-12% of the y... (more)