This article was first published in Finansavisen.
yacht: – Luxury yachts are changing. Modern luxury yachts are usually designed for a smaller audience than before, where the interior design blends with the outdoor spaces. Windows are often full height from floor to ceiling on every surface, while colors and materials are neutral to allow nature and the surroundings to focus on them. The outdoor kitchen is combined with a grill, pizza oven and teppanyaki, so that the chef can cook all kinds of food with the guests, under the open sky.
This is not something we make. The words belong to Norwegian luxury yacht designer Peder Thaulow Eidsgaard.
New personal record
Eidsgaard knows what he’s talking about. Together with interior designer and his wife Ewa Eidsgaard, as well as British yacht engineer Ben Harrison, the design office in Fulham in London has been designing superyachts, private jets and helicopters in the upper class since 2005.
In 2019, the largest luxury yacht to date, 95 meters long and 14 meters wide, manufactured by Lürssen Yachts, was launched. Rex is not only a royal name, at an impressive 127 metres, it’s also the largest yacht designed by the three-leaf clover at Harrison Idesgaard. The price of action as shown here can amaze anyone.
– I can’t say how much the boat will be built, but the first draft of REX ends up being around €435 million, Peder Thaulow Eidsgaard tells Finansavisen Motors.
This is more than 4.5 billion NOK. Included in what is described as an exploration yacht, there is not only a helicopter landing pad, but also a separate hangar with a superstructure. When the barn is not in use, it can easily be converted into a squash court. Nice when you not only have to negotiate a new business agreement, but also show who is the best on the court.
REX meets the world against an extraordinary backdrop. It is difficult to talk about luxury yachts today without mentioning the many Russian ships that are being seized in the wake of the Russian invasion of Ukraine. Some people think that all luxury yachts are owned by Russia. This is not what it is.
According to the Super Yachting Agency, there are about 370 “Russian-owned” luxury yachts with a length of more than 30 meters. This corresponds to approximately 8.8 percent of all superyachts, according to Superyacht News. But the larger the yacht, the greater the chances that it will be owned by the Russians. According to the Superyacht Agency, Russians own 29 percent of all superyachts over 90 meters in length. Edesgaard acknowledges that the industry expects fewer inquiries if the war drags on.
Our clients are generally from Europe and the USA, so we are not directly affected by the war in Ukraine. A war too close to Europe would naturally have consequences for the economy, no matter how short or long the war was. This also affects the auto industry. Edsgaard said earlier this summer that many luxury cars had to stop selling several models, because part of the production is located in Ukraine.
According to Automotive News Europe, Audi had to temporarily halt production of the A8 due to a shortage of parts. Porsche also had to suspend production of the Taycan for some time, due to a lack of wiring from a subcontractor in western Ukraine. Mercedes-Benz had similar problems. Western sales of luxury cars to Russia have been halted in line with the sanctions.
Expected to be launched in 2027
Things take time, especially with cool private jets like these. Ordering a custom-made Rolls-Royce, Ferrari, Bentley, and Bugatti is like baby food.
Not just because of the size, but all of the architecture, floor plans, choice of materials, art, lighting, details, and how the mix of everything has to match. Not only in the eyes of designers, but also customers and their families. A luxury yacht is more than just a place for exclusive business meetings, it is a holiday palace for family and friends. This is also the case with REX.
– The client encouraged me to design something different, something funky. We took it all the way, ignoring almost all traditions.
Edzegaard anticipates that opinions will be divided, and admits he wants to stir it up. The goal was to have a consistent aesthetic expression from all angles, and to take the yacht’s design a step further. Five years is the expected time to build the new superyacht, which is expected to be launched in 2027.
In detail: Conceptual drawings show some of the many details that make up the luxury yacht. Photo: Peder Thalow Eidsgaard
Harrison Eddesgard usually keeps his cards close to his chest. Internal details only appear if the client has allowed posting. This is not only important, it is necessary. In the luxury market, privacy is protected. The reason why all these graphics are now available is because this is first draft to REX. The final design will be slightly different, which explains why the client – who carefully protects his privacy – agreed to show us the drawings.
It’s rare that we get the chance to share such graphics. Helicopter hangar that can be converted into a surviving squash court. The customer flies their own helicopters and private planes, and wants to be able to store their Airbus AH160 dry and safe on board for various destinations, Eidsgaard says.
The client’s kids, who are in their twenties, immediately loved the design, but the client wanted a slightly calmer expression. Therefore, Eidsgaard Harrison has worked over the past 12 months to create a slightly less extreme expression, roughly the same size and with similar facilities on board.
long lasting design
The Norwegian yacht designer says there are limited shipyards that can build a luxury yacht with what he calls “Northern European quality”. Activity in the market in recent years means that the capacity is almost full.
– Searching for a “build hole” in a shipyard in the Netherlands or Germany has always been in high demand, and for many projects you currently have to add a year or two of waiting time. We are not pleased with the industry, but we want to satisfy customers, without compromising the high level of craftsmanship that German and Dutch shipyards are known for.
Waiting for new luxury yachts to be delivered has taken off the second-hand market. German and Dutch yachts less than three years old often sell for more than they were made for.
What is the life expectancy of a luxury yacht?
Superyacht is built to last preferably over a hundred years with good maintenance. So the lines must have artistic value, which can justify the longevity of the ship. The craftsmanship is of excellent quality, and we as designers want to enjoy them all for many years to come. In this regard, there is a significant difference between the design of the hotel, which is supposed to receive many guests for a shorter period “for the time being”, while the interiors of luxury yachts are designed for one client – to last for 10-20 years, before they are completely or Partially updated by the owner’s son or by a new owner.
M/Y “REX” Pictured: Harrison Eddesgaard
Prefer small yachts
If the yachting press is to be believed, the three-foot-long disease has swelled in recent years, or perhaps it would be more correct to call it the 30-meter disease. It seems that “everyone” wants bigger and bigger boats. Just as in the auto industry, with its hypercars and mega-cars, there is hilarious talk of “mega yachts” and “mega yachts”. Edsgaard takes tabloid terms overwhelmingly calm.
Traditionally, a super yacht has a length of 30 meters. Additional tariffs are not actively used in industry. “Megayacht” does not have an established designation, but it is likely that many would classify a boat over 5,000 tons, often 110-130 meters in length, as such.
Can the boats get too big?
– Yes, we see that many people would like to own boats no larger than 90 meters in size. There is no clear gauge mark, but for boats less than 90m it is a little easier in terms of operations in terms of ports and crew. Otherwise, there is a big difference between a 65-meter and 90-meter boat. The latter is twice as large, and construction costs would be similar, Edesgaard says.
There is the greatest demand for boats of 70-80 metres, which in many ways can be said to be the ideal luxury yacht in terms of onboard space, possible facilities, maneuverability and port space. And that the crew is generally limited to 20-24 people.
It costs to be a man
The rule of thumb is that annual operating costs are 10 percent of the boat’s value. With an expected cost of over NOK 4.5 billion to complete the REX, it doesn’t take much mental math to realize that the customer is in good hands.
That the person in question wants to modify the fonts a little inside it. Being right is always just as true in this price range.
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