Istanbul Boat Show rakes in 280 mln euros in 7 days

Istanbul's 31st Annual Boat Show raked in 280 million euros in sales in one week, as buyers splurged to snap up vessels that were up for sale for prices ranging between 15,000 and 12 million euros. Despite the global economic crisis, as Anatolia news agency reports, the boat show was able to sell 140 boats in a one-week period. Princess, a 12 million-euro mega yacht, was purchased by a petroleum sheik from Saudi Arabia, while English businessmen appear set to purchase another mega yacht, the Cobra. The Merlin, a mega yacht with sails, is currently being eyed by a businessman from Turkmenistan. German, English and Turkish businessmen opted to purchase catamaran boats, which they find safer, more affordable and less gas guzzling. The boat show sold six of the catamarans in seven days. The boat show's smallest and cheapest boat, the Stingray, was sold out, while there was also avid interest in small cruiser boats. Turkey has become a major boat production center exporting globally, coming in third behind Italy and the United States, and putting the country's reputation in yacht production on a par with Italy, France, England, the U.S. and Spain, according to industry watchers. Russian business tycoon Roman Abramovich and U.S. real estate mogul Donald Trump are both known to have purchased yachts produced in Turkey.