Super-yacht sales have been on the decline over the last four years

The world’s most expensive yacht, purchased by Sheikh Khlafa bin Zayed al Nahyan who rules Abu Dhabi, sold for a reported $627 million this year.

Yacht Sells For $627 Million

Despite the yacht’s hefty price tag, its worth is estimated at being just 3.5 percent of the Sheikh’s estimated $17.9 billion net worth, according to Wealth-X. Dubbed the Azzam, the yacht is not only the priciest, but also the fastest over 300 feet long. The 590-foot-long luxury vessel travels at 37 miles per hour. It also came with a helicopter pad.

Prior to the Azzam’s sale, the $485 million Eclipse held the top spot among the yachts. Equipped with two helicopter pads, 11 guest cabins, a pair of swimming pools, a dance hall and outdoor fireplaces, the Eclipse is owned by Russian oil tycoon Roman Abramovich. Abramovich can have 75 crew passengers aboard and 30 guests, all of whom are protected by a missile defense system and bulletproof glass.

Super-Yachts On The Decline

Coming in third place is the 440-yacht Serene, which sold for almost half of the Azzam at 330 million to Stolichnaya Vodka founder Yury Shefler.

Although luxury vessels do make up eight of the top 10 spots on the list of luxury items purchased by billionaires, both sales and prices of yachts have been on the decline in recent years. While in 2008 261 super-yachts were purchased, only 169 were picked up in 2012, according to Superyacht Times’ Yachting Index.

– Chelsea Regan

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