AJ Blackmon, CEO of Ikonic Yachts, said the market for superyachts is bigger than you'd think. Feng Wei Photography/Getty Images AJ Blackmon of Ikonic Yachts sells superyachts, typically over 40 meters, to the ultrawealthy. He said his wealthiest clients are typically the least flashy. The market for superyachts is bigger than he thought it would be when he first started. A superyacht broker in Miami says the most fascinating part of his job isn't the boats — it's the people he sells them to. AJ Blackmon, the CEO of Ikonic Yachts, started out in the industry by washing boats for $3 per foot at a yacht club, wondering what the people who could afford those boats did for a living. Now his company helps the wealthy buy, sell, charter, and manage superyachts, focusing on boats that are bigger than 40 meters, or over 130 feet, and can cost millions. "It's one of the most fascinating things on the planet to be around such special people and being able to learn from them, having conversations with them, and getting a glimpse into the world that they live," he said. Blackmon said he thinks the wealthy clients he works with are "one of the most misunderstood segments of society." After years in the business, here are three surprising things he's learned about selling boats to the ultrawealthy. 1. True wealth isn't flashy Blackmon said he's noticed a trend between the ultrawealthy, or those who buy their own superyachts, and those who charter them. "The people that you see on very large yachts, 50 meters and up, those are the people that show up with sweatpants on, a T-shirt," he said. "They're not fancy. They don't wear jewelry. They're very low key." One example he gave was of a client who has a full-time private chef and still shows up to his boat with Shake Shack, looking like a normal guy. Blackmon said it's the people chartering yachts who are more likely to show up with all the flash and fancy jewelry. "True wealth is super quiet and reserved," he said. 2. Buying a yacht is about time, not status Buying a superyacht is more about time than status for Blackmon's clients. "These yachts aren't just this ego purchase," he said. "It's really an effort to claw back time that they sacrificed to achieve whatever they were in pursuit of." He said his clients say the rest of their life and stress melts away when they're on their boats, and that it's the rare time they feel they can be present in the moment. They use it as a way to spend time with friends and family "that they've put on hold for the last 30 years while they were building a business," Blackmon said. 3. The market is bigger than you'd think When he first decided to focus on yachts that were at least 40 meters, Blackmon said he worried the market could be too small. "In reality, there's a lot of people," he said. "That's what was one of the first eye-opening things for me — there is no shortage of people creating wealth every day." The result is that the deals between buyers and sellers can be very high stakes, he said, adding that he's often working with people who are at the prime of their careers. The booming world of superyachts is often associated with big-name billionaires, but Blackmon has found many of his clients are "normal people" who "were on the right side of a few deals" or "believed in themselves longer than anyone else." Read the original article on Business Insider