Other Professionals
If someone wants to buy or build a super-yacht, they will often hire a broker and a maritime/admiralty lawyer. If a previously owned yacht has an international flag, it can take up to a month to complete the transaction because of lien searches. "A boat is a fungible thing that moves around, so you really have to do a certain amount of documentation," Bey says.

Perry, a partner in Perry & Neblett, a marine-admiralty law firm in Miami, says the regulations in many states are "wide open about a broker's credentials. A car salesman can be a broker in some states. And the Internet has really invaded the expertise of the broker network, which used to be very close to the hip in terms of buying and selling. In Florida, if you're a member of the Florida Yacht Brokers Association (FYBA.com) in good standing, with credentials that are current, that's a good sign."

Clients wishing to have their yachts built will need to hire a roster of professionals: a marine architect, often available through the boat builder; interior and exterior designers (some designers do both jobs); a sound consultant for the kind of quiet Bey so covets; and an onsite shipyard supervisor.

According to Benjamin Maltby, a yacht consultant with MatrixLloyd SL, "The key document is the build contract. The yacht's specifications must be set out in great detail, reflecting a complex array of regulations. The newly completed vessel will also have to be formally tested at sea, for which a qualified expert representative will have to be appointed. The builder should guarantee materials and workmanship for a warranty period," Maltby wrote in ITWeek.com in July 2007.

A Look At Operating Costs
Big boat ownership is not for the faint of heart or tight of wallet: Just to insure a yacht of a mere 125 feet costs $150,000 yearly. "We paid half of that before 9/11," Bey says, meaning that the 2001 terrorist attacks have prompted insurers to hike rates in anticipation of damage from any possible future attacks.

Once owners have the boat, they need someplace to park it, and the deep waters, high-end facilities and boat brokerages make Miami, Fort Lauderdale and Palm Beach, Fla., the favored yacht centers in the United States. Newport, R.I., is also a hub for mega-yachts.

At Old Port Cove in Palm Beach, slip leasing is based on vessel size, and charged on either an annual or seasonal basis.
Owners who keep their super-yachts in the European Union must be prepared to pay from 15% to 25% of the vessel's value in "value added tax." Boats registered and owned by non-EU residents and brought into the EU are temporarily exempt from the tax.

Moreover, rising oil prices have made operating a yacht increasingly expensive, since boats are powered by diesel fuel. A 125-foot boat holding 12,640 gallons of diesel fuel cost $52,835 to fill in early June 2008 (at $4.18 a gallon then).
"Are [yacht owners] shell-shocked and upset every time they go to the pump? Absolutely! But does that stop them from using their vessels and traveling around with them? No! "says DeSousa.

Owners of these deluxe boats can defray their costs by chartering the boat to other uses. Bey says he does just that, telling his captain when he needs the boat, as in the Monaco trip, and when it can be made available for charter. "But there are owners who never charter their boats. When they are in Puerto Rico, they want their boat in Puerto Rico. The boat works around them, not the other way around," DeSousa says.

Banks can also buy the super-yacht itself, charter it back to the owner, and use the charter fees to help repay the loan.
It also requires research, contacts and luck to hire the right crew. With about 3,000 seaworthy super-yachts now in existence and another 1,200 under construction, the question is: How does one find qualified crew?