Billionaires worldwide have ordered so many super yachts they are now in a full-blown panic. John Iadarola and Sabrina Rios break it down on The Damage Report.

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Superyacht building boom creates a supply crunch and crew shortage for ultrarich buyers - https://www.cnbc.com/2021/12/2....1/a-superyacht-build

"Superyacht building boom creates a supply crunch and crew shortage for ultrarich buyers - More than 1,000 superyachts are now in production or on order, as the global ultrarich seek refuge from crowds and Covid-19 on their nine-figure floating palaces.

According to Boat International’s 2022 Global Order Book, a record 1,024 superyachts — defined as yachts longer than 80 feet — are in construction or on order, up 25% over the year-earlier period, surpassing a 2008 peak. With shipyards straining to keep up with demand, wealthy buyers are being told they have to wait three to five years for custom orders.

“The shipyards are very full,” said Jonathan Beckett, CEO of Burgess, a yacht brokerage and management firm. “They are doing their best to satisfy customer requirements, but it’s not easy.”"

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