First Impression: Arbitrage

Date toured: December 2006

Arbitrage is a sleek, stylish 98-foot motoryacht that I’m inclined to keep an eye on. She could turn out to be one of the best charter yachts in her size range for a group of four couples to charter together. Or, she could vanish from the charter scene altogether.

Built by the Italian company Azimut in 2004, Arbitrage has until recently been a private yacht. That is to say, her owner kept her exclusively for his personal use.

The thing is, after two years of owning the yacht, the owner found he didn’t have time to use her. The crew tells me there are only about 500 hours worth of running time on the engines, which is not very much at all (she looked brand-new to me). The owner considered selling the yacht, but instead chose to offer it for charter. He made this decision the week of the annual charter yacht show on St. Maarten.

That’s where I found Arbitrage, which had no contract with a reputable management company but was shopping for one throughout the boat show. I saw many brokers who were interested in working with the beautiful yacht, but as I write this in late April 2007, I have yet to identify a management company that has signed the boat into its fleet—though I have found a website that its owner set up, allowing potential clients to charter through him directly.

Anyone who reads CharterWave regularly knows that we frown on this. Always, always, always use a reputable charter broker instead of handing your vacation money directly to a yacht’s owner.

Having said that, and assuming Arbitrage finds her way into a good management company’s fleet, I rather like the yacht for charter. She has a custom feel to her interior that you don’t find in most other charter yachts her size, including mosaics in the bathrooms and what appears to be custom carpeting. The owner’s taste is gentlemanly without being boorish, with details like tuxedo pillows and leather ottomans sprinkled throughout the spacious-feeling,

pen-layout interior. The galley is a level below the main deck, which is a little tough on the crew but ideal for maximizing guest areas.

I’m also a fan of the guest cabins on Arbitrage. The master and VIP each have king-size beds, and the two additional guest cabins have twin beds that convert to kings. This means four couples could split the weekly rate on this yacht and each have a nice, big place to sleep. Or, two couples with kids could split the bill and nobody would feel as though they had a lesser stateroom.

Arbitrage’s website lists two permanent crew members, which means two additional freelance crew will likely be brought onboard for your charter. I’d check with a reputable charter broker to make sure the crew are up to snuff before booking, and to ensure you’re paying a fair weekly rate, as none is listed on the yacht’s website.—Kim Kavin