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02:03 Jun 28, 2004
English to Chinese translations [PRO] Social Sciences - Sports / Fitness / Recreation
English term or phrase: ShowBoats International
Traditionally, a yacht jokingly has been called a hole in the water where you pour your money. However, high sticker price and expenses—annual operating costs are often much greater than 10 percent of the initial purchase—are not dampening superyacht sales. Over the last five years, according to ShowBoats International’s 2003 order book, purchases of yachts longer than 80 feet have almost doubled. There are nearly 500 megayachts currently under construction, and laid end to end, they would extend for almost 59,000 feet, or 11 miles. Sales of 150-foot-plus megayachts were up 11.3 percent this year over 2002. "It’s still pretty hot at the top," says Tim Johnson, a broker at Fraser Yachts, a Fort Lauderdale, Fla., brokerage and charter firm. Johnson recently sold a 161-foot brokerage Feadship for $28 million—$6 million more than the original cost of construction.