Business

For $22.2 million, yacht is yours

A hand built sofa from Italy occupies the livingroom on the 125 foot motor yacht built on spec. by Northcoast Yachts of Tacoma, March 24, 2010.
A hand built sofa from Italy occupies the livingroom on the 125 foot motor yacht built on spec. by Northcoast Yachts of Tacoma, March 24, 2010. The News Tribune

There's luxury - and then there's $10,000-worth of Italian onyx that adorn your shower and dining room table, and gold weaved into your wallpaper.

Tacoma-based North Coast Yachts is putting the finishing touches on a 125-foot yacht that company owner Stephen Yadvish said Wednesday is the most luxurious boat they’ve ever built. North Coast has been in Tacoma since 1988, and Yadvish bought the business in 2003.

The 125-footer will be launched Monday into Commencement Bay.

And it’s for sale. Price tag: $22.2 million.

North Coast started the yacht a little more than two years ago – with an eye toward marketing it in Europe, though Yadvish said he’s been receiving quite a bit of interest from the U.S. as well.

Building a multimillion-dollar yacht “on spec” – or without a buyer – is a risk, but Yadvish said many people don’t like to wait the years needed to build such a custom boat. North Coast only builds one at a time.

“I think that we are the only company (in the U.S.) doing a spec boat right now,” he said. “But we are building it the way I like to build it.”

That means an attention to detail – and a level of finery – far out of reach for your average boating enthusiast.

The yacht has nine bathrooms and five staterooms, or bedrooms. There are marble sinks, showers and a huge soaking tub. The leather floors are made from repurposed car seats, but other leather touches come from the hides of Scottish cattle, which Yadvish says are unmarked by barbed wire.

There’s a floating, stainless steel spiral staircase built with the help of a company that has also worked with glass artist Dale Chihuly. Crushed glass beads make one wall sparkle. The yacht’s main steering wheel is modeled after a 250 GT Ferrari. The wrap-around, white leather couch was hand built in Italy.

“It’s detail, detail, detail,” Yadvish said. “Boat building is a real art trade – this is an art project.”

A lot of technology backs up the beauty.

Underwater fins keep the boat stable so it never rocks while at anchor. Flat panel television screens fold into the ceiling so as not to block the view. Controls for the onboard entertainment system fill up a room. It takes a crew of five to operate the yacht, which has an onboard sewage treatment plant. The boat can convert 2,800 gallons of seawater to fresh water per day. Its fuel tank holds 7,200 gallons.

Who would buy such a vessel?

Yadvish doesn’t know yet, but said that he wanted to build a “really high-end boat for a really high-end client.”

“It’s like buying a Bentley or a Bugatti,” he said. “It’s a unique customer who wants a one-of-a-kind art piece.”

The lucky buyer most likely won’t be financing the purchase. North Coast’s last yacht was built on spec as well – an 87-foot, $6 million boat that’s now called Fortuna. Yadvish said it sold 18 days after it was launched.

Yadvish started building boats at age 12 in New York. He sings the Northwest’s praises as a place to build luxury yachts.

There’s a wealth of boat building experience here. Tacoma has a handful of yacht builders and related small companies.

Yadvish’s 40-person Tacoma staff – which includes wood workers, marble guys, electricians and engineers – built nearly all of the yacht that’s now for sale. Yadvish, with the help of his wife, designed and hand picked nearly everything on the craft. The right buyer will notice.

“I just want someone who really appreciates it,” he said.

Kelly Kearsley: 253-597-8573 kelly.kearsley@thenewstribune.com  

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