But superyacht designers such as Andy Waugh are prepared to risk it as they attempt to land a dream commission.

Waugh's latest design, Epiphany, might not be the biggest -- that record belongs to the 180-meter behemoth Azzam -- but with its extravagance he is pushing the boundaries of what is possible on the high seas.

If contracted, Waugh's sleek concept would take up to five years to build. It would stretch to a comparatively modest 130 meters, but it won't come cheap.

"Cost? You're probably looking at £200 million to £500 million ($267 million to $667 million)," the British designer tells CNN. "It depends on the finish of the interior.

Photos: Lights, camera, action Photos: Lights, camera, action Do you want your superyacht to stand out at sea? Well, how about one which comes equipped with 600 flashing lights? Welcome aboard, Moonstone -- the peacock of the yachting world. Hide Caption 1 of 9 Photos: Lights, camera, action The result of an Oceanco and Van Geest Design cooperation, Moonstone -- named after the gemstone -- is a luxury vessel that literally shines thanks to an array of effects that create a visual extravaganza. Hide Caption 2 of 9 Photos: Lights, camera, action "The yacht is not just a yacht anymore; it becomes an experience. An experience that is always surprising," Pieter van Geest of Van Geest Design tells CNN. "Moonstone allows the owner to choose an ever-changing experience on board; their boat has the ability to never appear the same. This is unique and never seen before -- no one's ever had the ability to be different whenever they want." Hide Caption 3 of 9 Photos: Lights, camera, action Moonstone's 600 LED triangles are split into two sets of 300, spread across each side of the ship's 90-meter long hull -- and all can be controlled via an app. "The light panels represent flexibility in design and appearance," Van Geest says. "Initially we wanted to recreate the twinkle effect of the sunlight on water, but by having the ability to create patterns and even images we get to limitless possibilities." Hide Caption 4 of 9 Photos: Lights, camera, action Moonstone doesn't just stop with lights. The superyacht also comes complete with special backlit surfaces linked to fish-eye cameras which can capture the color of the sky or reflect of a sunrise. Hide Caption 5 of 9 Photos: Lights, camera, action "The inspiration behind Moonstone was basically nature. Yachts and ships rarely look like they belong in their environment; they break the horizon and sometimes even spoil the landscape," Van Geest says. "Our goal was to design something that can belong in, and enhance its surroundings." Hide Caption 6 of 9 Photos: Lights, camera, action Any potential buyers thinking that all those lights can't be good for the environment, fear not. They've been designed to be self-sufficient, sitting beneath with 70-square-meter solar panels. A full day's sunlight, it is estimated, will allow the lights on Moonstone to run for up to three hours. Hide Caption 7 of 9 Photos: Lights, camera, action Besides its striking lighting features, Moonstone comes with all the usual mod cons you'd expect to find on any respectable superyacht. A cinema, gym, helicopter pad and wellness area are just a few of the facilities on offer, while sticking to the boat's theme, its swimming pool comes with dimmable lights to add even more glow to the party. Hide Caption 8 of 9 Photos: Lights, camera, action Moonstone can be ready for use within three years. But if that sounds like too long to hang around, you could always just buy those 600 LED lights instead... "We don't have to engineer the light features anymore," Van Geest says. "So if somebody wants this, they can press the button and have it now. This is not a dream. It's not a dream, this is actually reality." Hide Caption 9 of 9

"If it's gold swan taps in every bathroom, then the price of the interior can be three times a more modern design. So it totally depends on the client and what they want."

Its owner will be able to enjoy an entire deck to themselves, complete with private cinema, jacuzzi, gym and spa, while guests will be able to take advantage of the same luxuries on the VIP deck below.

The chances of the yacht being built are around "one in a thousand," Waugh admits, but cost, surprisingly, isn't one of the major potential stumbling blocks.

"Lots of people like Epiphany, but what you hear a lot of the time is: 'I like this but ... I've got my own idea and I want something that is a bit more sensible,'" the London-based designer explains.

Photos: Invention of the 'tourizen' Photos: Invention of the 'tourizen' Morphology – If you've ever dreamed of traveling the world and exploring little-known locations, then the MORPHotel might be the holiday of the future for you. Hide Caption 1 of 10 Photos: Invention of the 'tourizen' Vertebral spine – Designed by engineer and architect Gianluca Santosuosso, the MORPHotel project aims to develop a new luxury hotel concept. The hotel's "vertebral spine" allows it to adapt its shape according to weather conditions and its docking location. Hide Caption 2 of 10 Photos: Invention of the 'tourizen' Four to the floor – The MORPHotel concept is based on four main strategies: Space in between; plug-in city-harbor; adaptive shape; and self-sufficiency. Hide Caption 3 of 10 Photos: Invention of the 'tourizen' Space in between – The MORPHotel uses the sea not only to get visitors from A to B -- as cruise ships do -- but also to explore the areas along the way. Cruise ships' fuel consumption tends to be around 470 liters/km, while the MORPHotel will rely on following sea currents around the world. Hide Caption 4 of 10 Photos: Invention of the 'tourizen' Plug-in city-harbor – During its journey around the world, the MORPHotel will stop in cities it encounters along the way and will become a temporary extension to them. It will provide added value for its inhabitants, who can take advantage of its services such as a theater, restaurants and fitness center, while the city will open up to the hotel guests. Hide Caption 5 of 10 Photos: Invention of the 'tourizen' The "Tourizen" – Santosuosso believes such a feature will allow the traditional separation between "tourist" and "citizen" to disappear, leaving space for a new entity: The "tourizen." Hide Caption 6 of 10 Photos: Invention of the 'tourizen' Adaptive shape – This allows the MORPHotel to not only reach the cities' harbors by changing its shape, but to also become an independent aquatic organism. Given its 1 km spine, the hotel can spiral in on itself on ocean crossings to become an artificial bay where boats and ships can find shelter. Hide Caption 7 of 10 Photos: Invention of the 'tourizen' Self-sufficiency – "One of the fundamental goals that we want to attain in this project is to create a big, independent, self-sufficient artificial organism," Santosuosso explains. Hide Caption 8 of 10 Photos: Invention of the 'tourizen' Energetic – Energy will be provided by solar panels placed along the upper part of the hull and glass panels, and also by the two ends of the spine through the movement of waves. It will also collect rainwater while desalinating sea water. Hide Caption 9 of 10 Photos: Invention of the 'tourizen' Floating farm – This self-sufficiency will also be used to produce certain types of food, as each of the central vertebra will contain a small vegetable garden. This part of the hotel will work as a big floating farm, where it will grow vegetables, rear animals and store foodstuffs. Hide Caption 10 of 10

"They like stuff which is crazy, but a client needs to be able to believe -- they need to be able to see themselves on that boat -- which sometimes with the more radical designs they can't really do.

"Usually it's an inspiration, a sort of starting point for someone to get interested and they usually want something that's bespoke to them but similar to something I've done in the past."

Whim

The sort of people who can afford a $500 million boat often quickly become bored of their latest "toy," according to Waugh.

"These things basically require a high-net-worth individual to fall in love with it. Even then they tend to fall in and out of love with stuff on a whim," he says.

"I was doing a design for a Norwegian but it fell through because he couldn't sell his boat. So there are all sorts of reasons why things don't happen. Very random, really."

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Clients for superyachts costing over £100 million ($133 million) tend to come from the Middle East or Russia, Waugh says, but their reason for buying can vary greatly.

Is it ego?

"Sometimes it is," he says, adding that there is competition between rich Saudis and Emiratis to have the biggest boat.

"But some guys just love yachting, they love the comfort of having a motor yacht and like to cruise around and they go to the Caribbean on it -- it's an adventure for them.

"That's one side of the market. They tend to use their yachts a lot. Then there's another side where it really is just about spending money for the sake of it and saying you've got the biggest yacht.

"Those guys might spend three weeks a year on the yacht and it's costing them tens of millions a year. A bit of an expensive toy, really."