Superyachts are big business and status symbols

The superyacht has become today's status symbol for the rich, powerful and influential. And these gleaming multi-million pound floating palaces boast every home comfort.

Items regarded as standard include home theatres, retractable plasma televisions, wine fridges, built-in cappuccino machines, icemakers, submersible boarding platforms, underwater lights, pressure washers and Italian-designer interiors.

Ian Nicolson and David Gray

Ace Marine Ltd, the Fife-based firm of naval architects, has acquired the oldest continually operating yacht design business in the world, A Mylne & Co – including the design archive, described by some enthusiasts as a “treasure troves“.

Sunseeker International Limited has agreed outline terms with US-based Luhrs Marine for the purchase of its Legend Yacht manufacturing facilities at Osprey Quay, Portland on the UK's South Coast. The site will be acquired to accommodate Sunseeker International's planned expansion with a licence to use the facilities immediately, and production starting as soon as the purchase is complete.

A sailing yacht can vary in overall length from about 20 feet to well over 300 feet. However, most privately owned yachts fall on the range of about 20 feet to about 50 feet. Yachts above 30 m or 90 feet tend to be described as Superyachts.