Anyone familiar with the saying that owning a boat is like standing in a cold shower tearing up $20 bills didn't sail on the Despedida in the recent Marion Bermuda Race.

For the biggest argument among the crew during the 50-foot yacht's four-day race to the Island was over what video to watch.

It may be a far cry from the image of sleek racing yachts battling mountainous seas from the US East Coast to Bermuda -- but the Marion to Bermuda Race, while highly competitive, is designed for cruising yachts, as opposed to the stripped-down high performance boats which take part in the Newport Race.

"We had a lot of arguments on the way down from Marion -- and they were all concerning which video to watch on our VCR that night,'' laughed Bill Siefert, chef and crew member on board luxury yacht Despedida from Annapolis Maryland.

Not all yachts are as luxurious as the Despedida , and not all races as smooth as last week's, but life on a boat must be pretty good when you have air conditioning, a TV and VCR in the cabin and prime rib of beef, au gratin potatoes and mint chocolate chip bars for dinner.

"The first night we sailed, there was not very much wind and we were in shallow water, so we dropped our anchor, put up our special dinner flag and ate our tossed garden salad, shepherd's pie and strawberry shortcake with fresh baked biscuits,'' said Mr. Siefert. "We also have a good supply of Dark and Stormys on board.

"The only problem was that everyone gained at least four pounds with my cooking during the race,'' said Siefert, (otherwise known as "Chef Guillaume'') who has now made the trip to Bermuda 30 times.

The 50-foot-long Alden , owned by Nicholas Cannistraro, is spacious and fully air-conditioned. As well as the controversial VCR, the yacht is fitted with high technology electronic sailing equipment, a washer/dryer and the ability to make 600 gallons of fresh water daily so the crew can take unlimited hot showers.

To add to their comfort for the race, the crew had an extensive gourmet menu.

As well as prime rib, the crew dined on roast whole turkey, mashed potatoes, gravy, roast stuffed leg of lamb, green beans almondine, fresh baked bread, beef stroganoff on green fettucini, banana nut Black Seal rum pancakes...the list is too long to print.

"Of the seven man team, only two members were on two-hour watches at one time, with a four-hour break in between, because all of the sails can be trimmed electronically,'' he added.

Crew member Cappy Kidd joked about "what a tough life it was'', referring to the easy passage on board Despedida to Bermuda.

Of course not all of the participating boats in the race were that luxurious, and Mr. Siefert commended all the people who sailed the smaller, less comfortable boats.

Mr. Siefert, 52, owns a company that manages yachts in Rhode island.

"I take care of yachts, pay all of their bills and take care of all the nitty gritty myriad of details for the owners. I'm getting paid for what I love,'' said a contented Mr. Siefert.

"All of my clients are nice -- because if they weren't I wouldn't work for them.'' With boats likes Despedida costing between $800,000 and $1 million each and up to $200,000 to maintain each year, luxury yacht racing is big business.

That translates into races like Marion and Newport injecting substantial amounts of money into the Bermuda economy each year.

"It's generally estimated that the Marion-Bermuda race alone brings $3-4 million into Bermuda every year it's run,'' said Buddy Rego, an ex-commodore of the Royal Hamilton Amateur Dinghy Club.

"You have 84 yachts coming in containing between eight to ten crew,'' said Mr. Rego, who skippered his yacht Tsunami from Marion in this year's race.

"When you add in the costs of the airline fares for all their wives, daughters and girlfriends, who fly in to see them, factor in their stays in hotels, visits to restaurants and purchases of duty free liquor, etc., you have a very important injection into the economy.'' HIGH LIFE ON THE SEA -- "Chef Guillaume'' on board the luxury 50 foot yacht Despedida , one of the competitors in the recent Marion Bermuda race.