Yesterday shattering news for the Monaco Yacht Show (MYS) began doing the rounds, first reported by SuperyachtNews and now circulating on social media. Both SYBAss and LYBRA, two major industry associations have confirmed in a letter to show organisers, Informa, that they will not be participating at this year’s event scheduled for 23-26 September.
This follows a period of general uncertainty over the immediate and long term future of boat shows in light of COVID-19, and perhaps even before.
As reported by SuperyachtNews and the Italian Press Mare, SYBAss and LYBRA attribute their decision to concerns over the safety of those attending or working at the show. They also express doubt that buyers would attend in sufficient numbers given travel restrictions and fears over the safety of their family and friends.
Echoing the views of many industry insiders, they also question whether such a display of wealth is appropriate in the wake of a worldwide health emergency which continues to impact the lives of the wider population. MYS is given further food for thought in a statement of general discontent regarding the way the show has served the needs of super, mega and giga yachts in recent years.
This surely calls into question the viability of the Monaco Yacht Show to assume its usual format this year. Either way, many will see it as an inevitable turning point and an opportunity to review how boat shows in general, and MYS in particular, can best serve our industry in the years ahead.
SYBAss (Superyacht Builders Association) represents 20 of the world's leading superyacht builders - Abeking & Rasmussen, Amels, Baglietto, Benetti, Bilgin Yachts, Burger, CRN, Delta Marine, Feadship, Heesen Yachts, Horizon, Lurssen, Nobiskrug, Oceanco, Perini Navi, Royal Huisman, Sanlorenzo , Silver Yachts, Turquoise Yachts, Vitters Shipyard, and Fincantieri.
LYBRA (Large Yacht Brokers Asoociation) represents eight of the world's leading superyacht brokerage firms - Burgess, Edmiston, Fraser, IYC, YCO, Nothrop & Johnson, Ocean Independence and Yachtzoo.