The super-rich have been on a spending spree throughout the covid pandemic that has taken the superyacht business to new heights.
According to Superyacht News, 240 superyacht projects are scheduled for delivery in 2022 up from 157 delivered in 2021.
The eye watering expense of these ever-bigger yachts is not normally a cash deal, the share value backed billionaires prefer to raise enormous loans and keep their cash safe.
But lenders to the super rich have begun looking at the increased risk for the billions of loans provided to high-net worth clients, backed by their personnel shareholding value, for their jets and superyachts.
The stand-off between Russia and the West could have a knock-on effect for the Superyacht business following the threat of sanctions against allies of Russian President Vladimir Putin if he invades Ukraine.
The big financial institutions and private banks that have provide low-cost loans to oligarch billionaires to fund these ultimate wealth symbols, have begun to off-load their potential risk.
The Financial Times reported that Credit Suisse recently off-loaded $80million (£60m) to asset managers in exchange for interest payments, in a move that would protect it if sanctions were imposed on any of its borrowers.
Previous US sanctions in 2017/18 against Russian oligarchs were reported to have caused defaults on yacht and aircraft loans, and other billionaires had to sell high end products when banks were forced to stop accepting their payments.
More banks are expected to follow Credit Suisse in protecting their loans as the war of words escalates.
Superyachts have been the goto solution for the super-rich during the pandemic, combining a safe means of private living and transport with a unique, prestigious display of wealth . . .
But is it time to pay the piper?