It's clear that buying a luxury yacht costs a lot of money.

Less obvious is just how much cash is required to keep a yacht running once it finds an owner.

In an interview about "Grand Ambition," his book about private equity investor Doug Von Allmen and his luxury yacht "Lady Linda,"G. Bruce Knecht told the New York Times, "Operating and maintaining a yacht is at least 10 percent of what the thing cost."

So the owner of a $10 million yacht should expect to pay $1 million every year to keep it running.

Both Kim Kavin, the charter editor at Yachting magazine and editor of CharterWave.com, and Gianluca Fenucci, the founder and director of ISA Yachts, told Business Insider the 10 percent estimate is pretty accurate.

That estimate is "quite in line and within the average for a standard operational use of a megayacht," even when various conditions (like the yacht's age) are taken into account, Fenucci said.

However, Nicolas Valin, the president of Neo Yachting, argued the rule of thumb "does NOT work...There are many aspects which interfere with the cost of operation of a yacht."

While it may not be a perfect guideline, the 10 percent figure puts into focus just what a luxury yacht is: a complex, floating machine that requires a crew, huge amounts of fuel, docking, and maintenance.

Kavin says that marina docking fees for a week at an event like the Monaco Grand Prix usually run in the six figures, and that fuel is commonly the biggest expense a yacht owner faces.

Then there are the people who must be paid to sail the yacht, keep it clean, and feed everyone on board. Annually, a good, experienced captain makes about $1,000 per foot of yacht, Kavin says. So the captain of a 150-foot yacht can put $150,000 in the bank every year.

Luxury Yacht Group provides salary guidelines that line up with that estimate: A Senior Master captain (10+ years of experience) can expect to make between $96,000 and $240,000 per year, for ships between 120 and 200 feet long.

At the low end of that range, that's $800 per foot. At the high end, it comes out to $1,200 per foot.

Even for wealthy yacht owners, these huge, fixed costs can put a dent in the bank account. They are part of the reason Knecht's book about the "Lady Linda" is a cautionary tale: Hurt by the 2008 crisis and overwhelmed by bills, Von Allmen was eventually forced to put his beloved, incredibly opulent yacht on sale in 2012, for $50 million.

[An earlier version of this article was written by Alex Davies.]

EXPLORE THE LADY LINDA: This $50 Million Luxury Yacht Comes Complete With A Helipad

Join the conversation about this story »

New yachts are coming out of shipyards all the time. But few have inspired as much lust in recent memory as the the Columbus Sport 130-ft. Hybrid.

The Columbus was constructed by Palumbo Shipyards of Italy, with the intention is to have as small an impact on the environment as possible.

On the outside, this yacht is beautiful. 

But the real innovations are within, including a very unique marine hybrid system.

[An earlier version of this story was written by Travis Okulski.]

Under the sleek exterior, the Columbus Hybrid has some clever tech.

So how is a hybrid system achieved in a ship? It cannot utilize regenerative braking like in a car.

Instead, hybrid means something a little different here. The ship can turn off its main engines and run solely on generators.

Launched over a year ago, the world’s largest yacht, Azzam, has now embarked on its first voyage after having left the Lürssen shipyard in Bremen, Germany, last fall.

At 590 feet, Azzam is 59 feet longer than the previous world record holder, the Blohm and Voss–built yacht Eclipse.

Given its mammoth size, Azzam’s relatively shallow draft of 14 feet and top speed of 30 knots make it all the more impressive.

Many details about the yacht remain unknown, though it has been revealed that the naval architecture was penned by the Italian firm Nauta Yachts and that the interior was decorated in turn-of-the-century Empire style by the French designer Christophe Leoni.

The ship’s itinerary also remains under wraps, but it has been spotted in Gibraltar and Casablanca, Morocco.

SEE ALSO: Robb Report Yachts Luxury Mega-Yachts Are Great — But How About An Even Bigger Giga-Yacht?

Join the conversation about this story »

With an estimated net worth of $17 billion, Microsoft cofounder Paul Allen can afford to buy himself some fancy toys. 

But with interests that range from electric guitars to World War II aircraft, Allen takes expensive hobbies to a whole new level. 

He also happens to own the Seattle Seahawks, who will be playing for their second consecutive Super Bowl win this weekend. 

We've rounded up some of the billionaire's most ridiculous toys, from professional sports teams to submarines.

Sports are a major passion of Allen's — he's a part owner of the Seattle Sounders, and he bought the Portland Trail Blazers in 1988 and the Seattle Seahawks in 1997.

After the Seahawks won the Super Bowl in 2014, Allen threw a massive party that featured live performances from Macklemore & Ryan Lewis, as well as a set by Allen himself. After the party, Seahawks coach Pete Carroll told the Washington Post: "Paul was hot last night, he was tearing it up — big licks. He had a lot of notable artists with him, too, playing. He’s got a great roster also. They sounded great ... I think Paul picked up the bill, too."

Source: Business Insider

His Seahawks will get another chance at a championship when they head to the Super Bowl this Sunday. "The first time you go you’re kind of amazed to be there," he told the Seattle Times. "The thing is, once you’re in the Super Bowl, you want to win. As time goes on, you want to win more and more." It seems like he's ready for the post-game celebrations — he reportedly had a custom amplifier made just for the occasion, with knobs that go all the way to 12.

Source: Seattle Times, Puget Sound Business Journal

Lidia Bersani is known for her lavish luxury designs. But this one is really out to sea.

She's taken her talents for gold, filigree, and meticulous soft edges to the boating world, and has created the La Belle luxury yacht. She's calling it the world's first yacht designed for women, and there's plenty of evidence to back up her claim.

Gone are the "macho" hallmarks of yachting like pool tables and beer kegs. In their place is a spa and beauty room.

Bersani told The Daily Mail she doesn't yet have a price for the concept, but "it will be not cheap."

Read more about the La Belle at Bersani's website.

Most yachts aren't created with with a woman's wants in mind, but the La Belle isn't most yachts.

Designer Lidia Bersani told Business Insider, "that the lifestyle of a businesswoman who wants to enjoy a pampered and feminine environment is not yet catered for in the often macho designed megayachts of this world." With its gold and ivory exterior detailing, there's no mistaking that this superyacht has a more feminine touch to it.

That doesn't mean it falls short on luxury however. If built, the yacht will feature a spa room, a snow room, a jacuzzi, library, and even a theatre. "No pool table or beer kegs," says Bersani.

Last week Brazilian police raided the home of once multibillionaire, now negative billionaire, Eike Batista. They froze his assets and took his Lamborghini, as well as six other cars, some fancy watches, and a pile of cash.

Now they've taken things a step further and seized his water toys too – including jet skis, a speedboat, and his yacht, the Spirit of Brazil, Bloomberg reported.

This comes after Batista's oil company, OGX, lost $9.7 billion and went bankrupt in 2013, pulling his own net worth down to about $200 million.

Then Batista went on trial for insider trading and stock manipulation.

The story is, Batista started to suspect that OGX's oil fields wouldn't deliver, and personally guaranteed $1 billion to keep things running.

It was enough to stabilize the plunging stock.

Then, prosecutors say, Batista made his move: when suspicions were confirmed and things really started to look bleak for the company, he allegedly sold his own stock and abandoned his $1 billion promise.

Now, four of Batista's companies are bankrupt and he reportedly owes $1.2 billion.

Join the conversation about this story »

NOW WATCH: This Billionaire's Definition Of Success Will Surprise You

The latest underwater vehicle from the Netherlands-based submersible manufacturer U-Boat Worx, the HP Sport Sub 2, is also its most compact to date, requiring a footprint of just 71 square feet of storage space and weighing only 4,850 pounds—nearly 3,000 pounds less than the company’s next smallest sub.

Because of its compact size, the sub can easily fit in the tender garage of nearly any yacht longer than 100 feet without a requiring a refit.

It is also light enough to be launched and recovered with existing tender cranes.

The cockpit of the HP Sport Sub 2 can accommodate the pilot and one passenger, with its acrylic dome allowing for nearly 360-degree views of the sub’s surroundings.

An array of six thrusters provides vertical and horizontal propulsion, controlled by a user-friendly interface that is intuitive enough for even an untrained passenger to take a turn behind the controls. The thrusters allow the craft to travel at up to 3 knots on the surface and 2 knots underwater, though an upgraded propulsion system is available that allows the sub to reach 5 knots on the surface and 3 knots underwater.

The HP Sport Sub 2 is capable of descending as far as 330 feet, for trips that can last up to six hours. In case of an emergency, the craft is equipped with life-support systems that can operate for up to 96 hours.

The HP Sport Sub 2 is priced from $1.35 million, which includes an operator training course and certification. U-Boat Worx plans to begin deliveries in the fall.

SEE ALSO: Elon Musk: We have a 'secret weapon' to stoke demand

Join the conversation about this story »

NOW WATCH: This drivable car was 3D printed in 44 hours

The Italian Sea Group had a busy year in 2014, launching six yachts in the span of less than four months, including the 115-foot Foam, the 148-foot Flying Dragon, and the 154-foot Entourage. But the company shows no signs of slowing down, using the occasion of the Monaco Yacht Show to reveal its new yacht concept, the Admiral X Force 145.

Conceived by the Monaco studio Dobroserdov Design in coordination with Admiral Centro Stile, the exterior of the 476-foot X Force 145 has a low profile, with gentle, curved lines.

Long banks of windows run nearly the entire length of the yacht, providing an abundance of natural light for interior spaces. The two-level beach club and spa, located at the stern, is the ship’s main entertaining area, with both indoor and outdoor pools, lounges and sun pads, and a bar.

The main saloon is also spread out over two levels and is centered on a massive chandelier suspended over an indoor pond. A forward observation deck affords guests a full panoramic view thanks to large windows that wrap around the bow.

One half deck is dedicated to the exclusive use of the owner, while guests stay in VIP suites equipped with personal balconies.

The yacht also features two cinemas, several gyms, two helipads, outdoor sunbathing and lounging areas, and a garage that can accommodate a helicopter, cars, and water toys.

SEE ALSO: Elon Musk: We have a 'secret weapon' to stoke demand

Join the conversation about this story »

NOW WATCH: This drivable car was 3D printed in 44 hours

Silver Wind, the latest boat from Italy’s ISA Yachts, is the first in the world to use water-jet propulsion driven by a hybrid diesel-electric system.

When powered by its two marine diesel engines, the yacht can reach a top speed of 32 knots and cruise at 26 knots; when its water jets are driven exclusively by the two electric motors, it is able to cruise at 8.

Not only does this system reduce fuel consumption, it also helps reduce maintenance costs by allowing the engines and generators to operate for fewer total hours, thus minimizing wear and tear.

The 141-foot yacht’s main deck houses the saloon, furnished in a wide variety of precious materials, including various woods, onyx, and marble, as well as Armani Casa and Hermès upholstery.

The owner’s cabin is located forward on the main deck, while a custom-designed circular dining table set upon a stunning wood marquetry floor is situated aft.

The lower deck is equipped with a VIP stateroom and three additional cabins, allowing the yacht to sleep 10 guests in total. The sundeck provides plenty of outdoor space, with numerous seating areas and a large sun pad forward.

SEE ALSO: Consumer Reports says these are the best cars of 2015

Join the conversation about this story »

NOW WATCH: This video of seniors using the internet for the first time will make your day

Microsoft cofounder Paul Allen announced Wednesday that he and a crew aboard his "Octopus" yacht had located a WWII-era battleship at the bottom of the ocean in the Philippines.

Octopus is a 414-foot yacht equipped with 40 guest suites, a glass-bottom pool, two helicopter pads, and a submarine.

It is one of the largest yachts on the high seas.

Allen has sailed to Antarctica, the Mediterranean, and many other exotic destinations. "During the day we explore, and at night we jam,"he told"60 Minutes" in 2011.

Octopus has been the scene for numerous swanky parties, including the annual soiree Allen hosts during the Cannes International Film Festival. 

At last year's party, he and "Entourage" star Adrian Grenier entertained guests with a live performance.

Allen started 2015 with another big party onboard Octopus, this time in Sydney.

According to his official web site, Allen has spent eight years looking for the Japanese battleship he found this week, which is called "Musashi." Allen has a passion for military technology, and he owns a large collection of war planes from the same period. 

SEE ALSO: The incredible toys of Seattle Seahawks owner and Microsoft billionaire Paul Allen

Join the conversation about this story »

NOW WATCH: 14 things you didn't know your iPhone headphones could do

Yacht ownership has always been a beloved hobby of the well to do. But the recent phenomenon of the mega-yacht — sometimes called the superyacht — has taken it to a whole new level.

With prices ranging from $200 million to a incredible $1.1 billion, the megayacht is the plaything of the world's wealthiest individuals. So just who are these people?

They come from all different places and made their money in a variety of ways — there are Hollywood tycoons and oil Sheikhs, politicians and industrialists. But they all have one thing in common. They are all billionaires. 

Here are the 15 most expensive mega yachts in the world and the billionaires who own them.

SEE ALSO: YACHT OF THE WEEK: This $150 Million Behemoth Is The Rolls-Royce Of Superyachts

Join the conversation about this story »

NOW WATCH: 14 things you didn't know your iPhone headphones could do

Hot off the achievment of his last yacht rendering, Glass, Lujac Desautel is back with a new, more svelte yacht design: Salt.

Salt takes the "floating box" of Glass and stretches it longways, forming a much more traditional yacht shape, as DesignBoom.com notes. Its design takes cues from three very different historical sources: the glass cabin was inspired by Phillip Johnson's Glass House, the sails were inspired by 17th century Japanese Red Seal ships, and the Water Step Well of New Delhi, India inspired the hull.

Apart from the contemporary design, the Salt also has another distinguishing feature: flexibility.

The yacht was designed to make the "connection to the sea is tangible," according to press materials. To that end, the sides of the boat fold down to become steps down to the water, its cubed glass cabin opens to become a open and airy space, and a rear hatch lowers down to the sea for a beach club-like experience.

Inside, many of the luxuries you'd expect in a yacht are accounted for, including three dining rooms and five cabins nestled in the hull.

Check out more renderings of the Salt below.

SEE ALSO: It Costs A Terrifying Amount Of Money To Operate A Luxury Yacht

DON'T FORGET: Follow Business Insider's lifestyle page on Facebook!

Join the conversation about this story »

NOW WATCH: The New Mercedes Driverless Car Even Has The Driver's Seat Facing Away From The Road

The Italian designer Federico Fiorentino created the Belafonte superyacht concept with a contemporary exterior that also features many traditional elements.

The profile of the 164-footer is svelte and aggressive, with a low-slung top deck. The exterior’s open areas at the back of the main and upper decks give the yacht an appearance not unlike that of an offshore powerboat. Depending on the choice of engine, Fiorentino estimates that the Belafonte will be able to reach speeds as high as 24 knots.

Despite its head-turning profile, the Belafonte never crosses into futuristic design—a category that can appear dated after a few years. Instead, its simple, classic lines, mahogany-covered handles, and stainless-steel grille on the bow should keep it looking contemporary.

“We use strong contrasts between classic and modern designs and try to combine aggressiveness and elegance,” says Fiorentino, whose favorite space aboard the yacht is the bow area. He notes that the stainless-steel nose is reminiscent of a 1960s Alfa Romeo radiator grille.

The Belafonte’s interior can accommodate up to 10 guests in five staterooms, including a full-beam, 1,000-square-foot owner’s suite, which includes a separate office and studio, a folding balcony, and two walk-in closets. An expansive saloon and formal dining areas are located on the main deck. The semi-enclosed upper deck has an open aft area with a sky lounge.

Fiorentino estimates that the Belafonte will cost about $26.4 million, with a build time of about 2.5 years. “The yacht is comparable to a Porsche or Aston Martin—sports cars with an elegant touch, [and] modern lines mixed with classic elements,” he says. “This yacht calls for the same type of person who would buy those cars.”

SEE ALSO: The Audi Q3 is the most confusing car I've ever driven

Join the conversation about this story »

NOW WATCH: Is draft beer better than bottled beer?

At first glance, the 278-foot ModCat Project L3, developed in a collaboration between the naval architects at BMT Nigel Gee and the yacht designer Rob McPherson—who has received a lot of attention lately for his firm’s work on the innovative Dragonship sailing trimarans—could be mistaken for an alien spacecraft.

With this concept, the designers’ goal was to push the boundaries of catamaran design: The yacht had to be not only spacious and luxurious, but fast.

The resulting concept features a long, lithe red hull that handles ocean chop with ease and helps reach speeds of in excess of 40 knots—remarkably fast for a vessel this size.

Project L3 is interesting from all angles, but its stern seems to hold the most potential for water lovers. Matching retractable beach areas sit on the sides of the massive hull, and above them is a separate deck for a high-speed rigid inflatable boat, a racing catamaran, and a two-person seaplane. The main deck features a full-size swimming pool, sun lounges, and an alfresco bar, while the bridge deck has a generous open-air fire pit surrounded by chairs and a drop-down cinema screen.

The yacht has a swept-back profile and plenty of sharp angles, giving it the appearance of being in motion even when at anchor. The design team decided to add the ruby-red exterior to enhance its high-performance look. Twin water jets will push the catamaran to its top speed, but even equipped with traditional diesel engines, it should still be able to reach 20 knots.

The secret to Project L3’s performance is its hybrid catamaran hull. Designed for the U.S. Navy, the ModCat hull matches the high performance and low power needs of a traditional catamaran with exceptional seaworthiness. The U.S. Navy’s 279-foot Sea Fighter, which can reach speeds of 55 knots, uses this design. “We found it refreshing to integrate technology developed in other markets into this yacht design,” says James Roy, BMT’s design director. “It will take a visionary client to bring this project to life. It challenges convention.”

Roy says that Project L3 has the same amount of interior space as a monohull yacht that is 80 feet longer. Since it is a custom project, owners will be able to design the interior to their own specifications. Given the 81-foot beam, the owner’s suite would most likely be a palatial waterside cabin with unrivaled views of the water.

SEE ALSO: This is the sports car villain Jason Statham is driving in 'Furious 7'

Join the conversation about this story »

NOW WATCH: Young Amy Winehouse ponders fame in first trailer for new documentary

The new sports watch from Rolex for 2015 was an interesting version of the Rolex Yacht-Master presented in an 18k Everose gold case with a Cerachrom black ceramic bezel matched to a new strap Rolex calls the Oysterflex. The 2015 Yacht-Master is actually two watches and each has slight, but important differences. First is the 40mm-wide Yacht-master 116655, but you should also be aware of the interesting 37mm-wide Yacht-Master 268655 version. aBlogtoWatch debuted the Rolex Yacht-Master 116655 for 2015 in Everose gold and ceramic here.

While the watch is gold (which means it is expensive), it is nevertheless a great looking sports watch. While it is true that many people consider a true Rolex sports watch to have a steel case, there is an emerging market for precious metal sport watches as a lifestyle item. At least with Rolex, you know it also has a lot of durability and thought behind it. I am curious to know what people's thoughts are on what is a great-looking sports piece with the 2015 Rolex Yacht-Master, even though it is more than double the price of, say, a steel Rolex Submariner.

The Yacht-Master has always existed in an interesting place within Rolex's sport watch family. When it first debuted, it was meant to be a more high-end lifestyle type of sport watch compared to the more utilitarian Submariner or GMT-Master. The Yacht-Master was never meant to be a professional diving watch or something for pilots. If anything, it was meant to be a watch for people who sail on or own yachts. That means there is a degree of activity to their life and some water resistance is necessary, but so is style and status. So what does all that mean for the rather radically new Rolex Yacht-Master that nevertheless very much lives within the larger current generation Rolex Yacht-Master family

In our debut post of the Rolex Yacht-Master 116655, I more or less laid out the technical details of what Rolex has presented for us in 2015, and now, after some hands-on time with the new Rolex Yacht-Master, I am going to fill in some details and other insights after Rolex explained what this new watch is all about.

In person, the Rolex Yacht-Master 116655 is just as handsome if not more handsome than it is in Rolex's (typically immaculate) press images. I've always been a fan of mixing gold and the color black - something which you can find in other Rolex models from time to time if you look for it. What immediately comes to mind is the Rolesor (two-tone) Rolex Submariner with a gold and steel case and a black dial. The Rolex Yacht-Master in 18k Everose gold (Rolex's own unique alloy of rose gold that does not fade over time) mixed with black ceramic does some interesting things visually and is an extremely different (albeit obviously in the same family) watch as the Rolex Submariner. While the Submariner has a glossy Cerachrom black ceramic bezel with engraved markers, the 116655 Rolex Yacht-Master's Cerachrom ceramic bezel is in matte black with the markers in deep relief (like other Rolex Yacht-Master bezels which are in precious metal).

The matte black color and texture of the Rolex Yacht-Master bezel is echoed on the dial - which again is very rarely matte on a modern Rolex sports watch. This makes for a cool look that is both a bit more legible and aggressive looking than the slightly glossy Rolex Oyster sport watches we are used to. Of course, with the 116655 Rolex Yacht-Master the hands and hour markers are in 18k Everose gold and polished - which gives the watch that real "Rolex character." It also happens to look nothing like all currently available Rolex Oyster sport watches - not to mention other Rolex Yacht-Master timepieces. For this reason alone, I think watch lovers will take keen interest in the Rolex Yacht-Master 116655.

While 2015 saw Rolex release the exciting new 3255 automatic movement in the Day-Date 40 watch collection, the 40mm Rolex Yacht-Master 116655 contains the existing Rolex caliber 3135 automatic movement that is of course COSC Chronometer certified. The 3135 is the same movement you'll find in some other Rolex watches - namely the Rolex Submariner Date watch. With that said, it is interesting to report that the 37mm-wide Rolex Yacht-Master 268655 has a completely different and actually newer Rolex movement. Inside the 37mm-wide Rolex Yacht-Master is the Rolex caliber 2236 which we debuted here during Baselworld 2014. Rolex announced the 2236 movement as the first Rolex caliber to contain Syloxi (Rolex's name for their silicon balance spring), and it is contained in a woman's watch.

Men wanting to experience a Rolex watch with silicon parts now have an option - well sort of. The 37mm Rolex Yacht-Master 268655 will certainly find itself on some men's wrists, although it is certainly a smaller watch and will more than likely be seen as a ladies piece. Will some people prefer the 268655 model over the 116655 given their preference of the newer 2236 movement? I wonder...

I will admit that it has been a while since I've taken a close look at Rolex Yacht-Master watches, as my interest in other Rolex timepieces has eclipsed this collection. I don't recall them having this shape of case though, which looks a lot more sporty and modern compared to older Rolex Yacht-Master cases that felt like a picture between a Submariner and a Datejust case in terms of style (which essentially they were). As an Oyster case, the Rolex Yacht-Master is still water resistant to 100 meters. So yeah, I am pretty sure that, in addition to everything else, there have been some refinements to the case of the Yacht-Master compared to the outgoing models.That last statement has an important implication - which is that the new Oysterflex strap (which Rolex calls a bracelet) only fits on these new 2015 Rolex Yacht-Master watch cases. Rolex is pretty notorious for making it difficult to "part swap" pieces from one Rolex watch to another, and unfortunately, you will not be able to purchase the Oysterflex strap independently.

Oysterflex is pretty cool, actually, and I do hope that Rolex rolls out this new strap option to other watches. We will likely see that in the future, but Rolex isn't saying more about it. Oysterflex is not made from natural rubber, even though it feels almost exactly like it. The structure of the bracelet begins with a metal "blade" (a titanium nickel alloy) that creates a base shape and allows it to fit securely. One of the most interesting elements on the strap are the "fins" underneath that are designed to create a cushion between the strap and your wrist. This allows for your wrist to expand and contract a bit while the strap remains comfortable and snug, and also helps vent the inner part of the strap a bit on hot days. It is a great feeling strap made out of an "elastomer" material which is connected to an 18k rose gold deployant clasp.

There are two downsides to the Oysterflex that some collectors might find. First is that the strap does not fit flush with the Yacht-master case. I agree that straps and bracelets look really nice when they fit flush with the watch case. I have no doubt there is a reason for how Rolex designed the end of the strap - there is pretty much a [good] reason for everything that Rolex does. My guess is that given the material of the strap, it simply would not look nice right up against the case as the strap moved around. The second issue is limited adjustability. The Oysterflex strap will come in six different sizes and you'll need to choose the right fit for you when you buy it. There is some micro-adjustability in the deployant clasp but you'll need to choose only one strap option. Even cutting the straps to size is not really and option because of the metal part in the strap. You'll get a nice clean look with this decisions, but you can't share watches with friends and if you ever do, you'll need to purchase another Oysterflex strap directly from Rolex.

As I talked about when we first announced these 2015 ref. 116655 and 268655 Rolex Yacht-Master Everose and ceramic watches, it seems as though Rolex is both listening to its core enthusiast demographic and also respecting the heritage that makes Rolex... well, Rolex. That is a tough job and really what Rolex tries to do with care and attention each year. I think a lot of people are going to like this new black and gold Rolex Yacht-Master with its chic sporty look and novel strap. Let's hope that some of its features and style continue to trickle down to more Rolex timepieces in the future. 

SEE ALSO: The McLaren 540C is a supercar for the average Joe

Join the conversation about this story »

NOW WATCH: This showering trick will make you more energized for the workday

Aston Martin's motto for years has been "Power, Beauty and Soul." And the company has been able to successfully deliver that in its road and racing cars.

Now the AM37 power boat will bring that same attitude to the open water. 

So far, details on the Aston watercraft are few. There's only a handful of digital renderings to give potential buyers some idea of what the boat, set to officially debut later this year, will actually look like.

According to Aston, "potential owners of the new Aston Martin powerboat are being given more details of the new project on a strictly confidential one-to-one basis."

How very James Bond of them! 

Designed by Quintessence Yachts in-conjunction with Aston Martin, the 37-foot-long AM37 aims to provide a luxury sports car experience – on water.  

 “We are sure that the Aston Martin ethos of ‘Power, Beauty and Soul’ can be successfully translated into the yachting environment in a very special way," Quintessence Yachts CEO Mariella Mengozzi said in a statement.

"The Aston Martin Design department has been working seamlessly with the Quintessence R&D unit and naval architect Mulder Design in Amsterdam to achieve a true example of design purity."

Aston and Quintessence have so-far revealed the planned use of a high-tech composite structure, interactive voice control, and a high-definition touchscreen navigation and multimedia system.

Aston Martin isn't the first ultra-luxury British carmaker to put its name on a boat.

Last year, Rolls-Royce unveiled a $5-million dollar superboat called the "Aeroboat." The sleek craft is powered by an updated, 1,100-horsepower Rolls-Royce Merlin engine from the legendary World War II-era Supermarine Spitfire fighter.

Aston Martin and Quintessence have not revealed the price for the AM37. That information may be available in the near future, but you'll have to keep it a secret.

SEE ALSO: This $150 Million Behemoth Is The Rolls-Royce Of Superyachts

Join the conversation about this story »

NOW WATCH: Here's what happens when you get bitten by a black widow

Taking a page from Jules Verne’s Twenty Thousand Leagues Under the Sea, the Austrian-based Migaloo Submarines will design, engineer, and build a private submersible yacht for anyone with deep-enough pockets.

The yachts take the concept of privacy to a whole other level, as they can remain submerged both at anchor and when cruising between destinations.

An offshoot of the design firm Motion Code: Blue (whose 918-foot supertanker luxury yacht concept Imāra features a four-level ski resort with chair lift and ski lodge), Migaloo will work with clients to customize its designs to accommodate any size specifications or alternate configurations based on four primary models currently offered.

The 236-foot M2 was also designed with the potential to be an underwater restaurant and bar or a conference center, depending on the client’s needs. The 442-foot M5 and 524-foot M6 come with three viewing galleries, a starboard saloon, a portside dining area, a wine room, a library, and a lounge with bar at the bow. The owner’s apartment spans three levels including a private bow terrace; additional accommodations include six VIP suites. The M5 and M6 also feature an outdoor pool and hot tub (accessible when surfaced), a helipad, and a wet garage that accommodates two 36-foot minisubs for smaller-scale exploration.

Boasted by Migaloo as the world’s largest submersible superyacht, the 738-foot M7’s design is based on the United States Navy’s Zumwalt-class destroyer. It is capable of 40 knots on the surface and 20 knots underwater (for when seas get rough) and, as with the other models, submerging will keep passengers in a depth of luxury that would make even the Nautilus seem substandard.

SEE ALSO: If you want Aston Martin's new power boat, you'll have to keep a secret

Join the conversation about this story »

NOW WATCH: This is what it's like to do a double backflip on a dirt bike

Paul Allen's annual yacht party continues to be one of the most sought-after invitations of the Cannes International Film Festival.

Monday night, the Microsoft cofounder invited scores of movie stars, musicians, and supermodels aboard his 414-foot yacht, "Octopus," for a Bollywood-themed bash.

Actors John C. Reilly, Jessica Lowndes, and Kelly Rutherford, as well as models Karlie Kloss and Melissa Bolona were all in attendance. 

Here's what you missed if your invitation got lost in the mail.

A massive elephant sculpture signaled the entrance to the party.

As guests arrived to the yacht by tender, purple lighting set the mood.

There were lots of Bollywood decorations set up on the deck.

It made for a dramatic scene.

There was even a performance by Bollywood dancers.

Not to be outdone, Allen himself got up to play some songs on his electric guitar.

Some guests donned henna tattoos.

Others got the full tour of the yacht, including the submarine a crew used to discover a sunken World War II battleship in March. 

Here's what it looks like inside that submersible. 

And here's what one of the helicopter landing pads looks like — the yacht has two.

It seems like a good time was had by all.

SEE ALSO: Tech billionaires are paying hundreds of millions to get their privacy back

Join the conversation about this story »

NOW WATCH: Why billionaires and power players go to Tony Robbins for advice

A California prostitute charged with killing a Google executive with an overdose of heroin aboard his yacht pleaded guilty Tuesday to involuntary manslaughter and administering drugs.

A Santa Cruz County Superior Court judge sentenced defendant Alix Tichelman to six years in prison under a plea deal that included reducing a manslaughter charge.

Authorities say Tichelman injected Forrest Timothy Hayes with heroin in November 2013 then left without seeking help when he passed out on the yacht. Hayes had hired Tichelman several times before and they were doing drugs and having sex the night he died, authorities said.

Defense attorney Larry Biggam said Tichelman was relieved to have the court proceedings behind her and she was expected to serve only three years. She will be credited for nearly a year already served.

Tichelman agreed to the plea deal in light of the evidence, the lawyer said.

"It was an accidental overdose between two consenting adults," he said.

The high-end call girl was arrested eight months after Hayes' death. A surveillance video at the Santa Cruz harbor showed the woman gather her belongings, casually step over Hayes' body, finish a glass of wine, and lower a blind before leaving the yacht the night before the body was discovered.

Tichelman had been preparing to move out of California when she was arrested. She has wealthy parents and dual citizenship in the US and Canada.

Prosecutor Rafael Vazquez was not immediately available for comment.

SEE ALSO: Slain Google executive's yacht is on sale for $345,000

Join the conversation about this story »

NOW WATCH: Popular new drug flakka is causing hallucinations and violent outbursts across Florida

With an estimated net worth of $17.5 billion, Microsoft cofounder Paul Allen can afford some expensive toys.

His 414-foot yacht, "Octopus," has to be one of the best billionaire toys around. 

Fully equipped with a pool, two helicopters, a movie theater, basketball court, recording studio, and accommodations for 26 guests in 41 suites, Octopus makes for an extremely luxurious escape. 

We've rounded up some of the yacht's craziest features here.

1. It cost Allen about $200 million to build.

Octopus is said to have cost Allen up to $200 million. Custom-built by German shipbuilders Lurssen over several years, it was officially launched in 2003.

2. It costs an estimated $384,000 a week to operate.

Yacht owners are expected to pay approximately 10% of the original purchase price each year to cover basic maintenance and operations.

By that logic, Allen pays about $384,000 a week to keep Octopus in tiptop shape. That adds up to approximately $20 million a year, according to New York Social Diary.

3. It weighs more than 9,000 tons. 

Measuring a whopping 414 feet, Octopus is one of the biggest private yachts in the world. According to Boat International, it was the largest when it launched in 2003, though yachts belonging to David Geffen and Roman Abramovich have since surpassed it.

4. He employs a permanent staff of 60.

Keeping such a massive operation running requires a lot of helping hands: captains, first mate, engineers, deckhands, in addition to chefs and stewardesses.

The yacht has 28 cabins just for the crew, the Superyacht Times reports. 

5. The tender — a boat used to shuttle guests between the yacht and the shore — is 63 feet long.

In keeping with the sea creature theme, Octopus' tender is called "Man-of-War." At 63 feet long, it's a decently sized boat itself.

6. It has two submarines.

Allen has said that Octopus is "less a Bentley than a Range Rover" because of the state-of-the art exploration equipment onboard.

According to Vulcan, one of the submarines, called Pagoo, can dive for up to eight hours and accommodate 10 people. It's stored in an interior dock on the bottom of the yacht.

A second submarine, called the Octo ROV, can be remotely controlled and dive up to 8,843 feet. The ROV has been loaned out for Google Earth's "Explore the Ocean" project and for a documentary on the Discovery Science Channel. 

7. A crew discovered a Japanese battleship with one of them.

In March, Allen announced that a crew onboard Octopus had located a WWII-era battleship at the bottom of the ocean in the Philippines.

It wasn't the first time Octopus has been used for purposes beyond entertainment for Allen and his inner circle. In 2012, Allen loaned the yacht to the Royal Navy in an effort to find a bell from a British WWII-era battleship. The search was eventually called off due to bad weather.

Octopus is also a member of the Automated Mutual Assistance Vessel Rescue, which means that it can be used to assist other boats in distress. 

8. It also has two helicopter landing pads.

There's one in the front and one in the back.

9. Mick Jagger has used the recording studio onboard.

A longtime fan of rock and roll — he built an entire museum dedicated to Jimi Hendrix memorabilia — Allen reportedly lent Octopus' recording studio to Mick Jagger when he was recording an album with SuperHeavy in 2011. 

Usher, Dave Stewart, U2, and Johnny Cash have all reportedly performed onboard Octopus.

10. It has a glass-bottom pool. 

Other amenities include a basketball court, move theater, and a swimming pool with its own bar area. 

11. Parties Allen has hosted on the boat have drawn loads of A-list guests.

Octopus was built for a good time. 

Each year at the Cannes International Film Festival in Cannes, France, Allen throws an extravagant party attended by actors, filmmakers, and supermodels.

Actors John C. Reilly, Jessica Lowndes, and Kelly Rutherford, as well as models Karlie Kloss and Melissa Bolona were all in attendance at this year's party.

Sharon Stone, Adrian Grenier, Russian actress Svetlana Metkina, and model Natasha Poly came last year.

Allen usually treats his guests to a live performance.

SEE ALSO: Microsoft billionaire Paul Allen threw a Bollywood-themed yacht party attended by celebrities and supermodels

Join the conversation about this story »

NOW WATCH: Here's what Microsoft co-founder Paul Allen actually found at the bottom of the ocean in the Philippines