An Interview with Juan Andrade, the yacht broker who represented SuperYachtsMonaco on the sale of Benetti Yachts 40m M/Y ORYX using Cryptocurrency
SuperYachtsMonaco is proud to announce they are now accepting Bitpay as a form of payment. The 40.2m Benetti superyacht ORYX was recently sold for €9.9m through the Monaco brokerage, using a cryptocurrency payment provider. Simon Goldsworthy and Hans Van Doornmalen of Edmiston represented the seller, whilst standing in for the buyer during negotiations was SuperYachtMonacos, Juan Andrade.
Accepting yacht payments through Bitpay is a new feature for SuperYachtsMonaco. The desire to purchase and charter yachts using cryptocurrency is ever-increasing, with more and more companies adopting new technologies to facilitate this demand.
“The ability to accept cryptocurrency enables SuperYachtsMonaco to attract new customers and sales by tapping the massive crypto marketplace,” said Juan Andrade. “Bitpay manages the entire process and makes it easy to receive crypto from the customer and adapt their approach to each client’s personal situation.”
The yacht itself features an interior updated in 2018/19 courtesy of Francois Zuretti, with an exterior design by Stefano Righini. ORYX yacht is an excellent showcase of the popular Benetti Classic Supreme model and has timeless appeal. The vessel accommodates up to 10 guests across five cabins, including a full-beam Owner’s suite with his and her’s bathroom on the main deck forward.
An exclusive interview with Juan Andrade
1. When did SuperYachtsMonaco decide to introduce Bitpay as a form of payment for yacht sales, yacht charter, and yacht management?
Juan: “Back in September last year, the client approached me to explain that he wanted to purchase his first yacht through SuperYachtsMonaco, but he wanted to pay using Bitpay. From there, I said ok and went and did my research on the logistics around cryptocurrency to see my options, which is when I approached Bitpay.”
2. How long did it take you to set up Bitpay?
Juan: “I’d say about a month, to a month and a half. The process was quite straightforward and by around November, we were ready to move forward with the transaction process. Still to this day, I’m not a cryptocurrency expert however, I now know a lot more and it’s opened a whole new market for the Superyacht Industry. ”
3. What are the key benefits for a client to go down the route of purchasing a yacht using cryptocurrency?
Juan: “I think each benefit is different for every client as they will have their own reasons to support their decision to buy a yacht in crypto, rather than fiat money. But, for SuperYachtsMonaco brokerage, the main benefit is that in regards to the transaction process, the banks aren’t involved which makes the process a lot quicker.
4. Did you find any challenges along the journey?
Juan: “The process was simple, and the only challenge we found was not many people understand or trust cryptocurrency. People still have a lot of questions about Bitcoin and the culture around them, but the process on behalf of SuperYachtsMonaco is fully understood and easily done.”
5. Will the yacht be managed using Cryptocurrency?
Juan: “Without commenting on a specific yacht, I do know that there are vessels out there that now manage the whole yacht using Bitpay, right the way down to crew salaries. It will only be a matter of time before we see this occurring on more yachts around the globe”
5. Will SuperYachtsMonaco continue to offer Bitpay as a form of digital payment for their clients?
Georgia, Head of Marketing at SuperYachtsMonaco comments:
“100%. We’ve now developed our website, with an added landing page specifically for Bitpay. We are now ready to accept almost all cryptocurrencies for sales and charters. Since the sale of Benettis 40m M/Y ORYX, we’ve also had another client charter a yacht with us using digital assets.”
For more on SuperYachtMonacos sales using Bitpay, keep an eye on our latest Superyacht news by clicking here
To view the latest Superyacht listed for sale with SuperYachtsMonaco, Click here