The owner of the Burevestnik clubs assessed the impact of sanctions on the purchase of yachts

Due to Western sanctions, approximately a thousand Russians a year will not be able to buy a boat or yacht, said the owner of the Burevestnik yacht clubs. There are almost no alternatives to European boats, but consumers are in a restrained mood for purchases

The sanctions imposed against Russia by Western countries have led to the fact that approximately a thousand Russians a year will not be able to buy a boat or yacht - this assessment of the impact of these measures on the market was given in a conversation with RBC by Andrei Boyko, a professional yachtsman and owner of the Burevestnik Group (engaged in the distribution of ships and construction yacht infrastructure, and also develops a network of yacht clubs "Burevestnik").

Compared to other luxury goods, the yacht market in Russia is quite small, says Boyko. In a quiet year , Russians purchased an average of about 1 thousand fleet units abroad. Two-thirds of them were small boats with a budget of up to $60 thousand. In the expensive segment of the so-called superyachts (more than 30 m in length), only about five transactions were made per year.

“The sanctions imposed against Russia have led to the fact that approximately a thousand Russians a year will not be able to buy a boat or yacht. Logistics are quite difficult; parallel import practically does not work in this case. Moreover, this is not an essential product,” explains Boyko.

Buying yachts, like other luxury products, depends not only on financial well-being, but also simply on a good mood, says the owner of Burevestnik Group: “It doesn’t matter that you have a lot of money, when you’re not in the mood, you don’t spend it.” The decision to buy a boat or yacht is usually a very balanced one, says Boyko: “We know examples from recent history when the dollar exchange rate jumped from 30 to 60 rubles, and people bought televisions in stores, tearing them out of the wall. Buying a yacht or boat is quite deliberate. Because this is not a basic necessity, and people who have the opportunity to purchase a ship have already accumulated enough life experience - they no longer run to buy dollars for 130 rubles and then sell them back for 70 rubles.”

This year, the mood among Russians regarding such purchases is restrained, buyers have a lot of anxiety, there is “uncertainty, lack of understanding of what is happening and prospects,” Boyko states. In addition, supply on the Russian market has decreased significantly due to sanctions - after the start of a special military operation in Ukraine, the supply of yachts from Western countries to Russia stopped. “The product is completely limited in supply. In this sense, the trading business is practically zero,” says Boyko.

There are not very many alternatives to European and American yachts on the market, since apart from Europe and the United States, “nobody has produced or is producing a fleet for entertainment,” admits Boyko. “Small boats” are produced in Asian countries, but there are no Chinese, for example, in this market, according to RBC’s interlocutor.

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There are practically no Russian manufacturers of boats and yachts, and the few that are present on the market depend on imported components. According to Boyko, at least 60% of important ship equipment in Russia is imported. However, he hopes that at least domestic engines will soon appear on the market - the first not very large engines have already begun to be installed on boats, and manufacturers are adapting to the sanctions.