BOARDING the luxury yacht was probably the closest I am ever going to get to living the millionaire lifestyle.

The vast leather sofas were covered in countless well-stuffed cushions while the wooden-panelled walls gleamed as if someone finished polishing them moments earlier.

Everywhere you looked was another luxury feature - a walk-in wardrobe, a vast bathroom, a flat-screen television.

There's probably three times as much floor-space on board as there is in my house and garden, which I suppose isn't that surprising given the multi-million-pound price tag.

As I moved from deck to deck I found something new to gasp about at each turn.

But as I mounted the top deck the bubble burst as, rather than looking out across a sun-kissed ocean I was staring at the interior of a vast, grey building with all the atmosphere of an aircraft hangar.

I was at the ExCel exhibition centre in east London at the London Boat Show and beneath the glossy mahogany veneer, shiny rails and glistening paint work of the luxury boats on show there were grumblings coming up from the depths.

From visitors who expressed disappointment at what the show has to offer to traders who were set to suffer a financial loss as a result of attending, there seemed to be a lot of unhappy people around.

Personally, I found my first visit to the London Boat Show a massive let down.

Yes, there was the glamour of being able to look round huge boats that I would never be able to afford in a million years and the chance to hobnob with the wealthy and well-dressed as well as spotting sailing celebrities such as Southampton's Dee Cafari, Dame Ellen MacArthur and Mike Golding.

But it wasn't that appealing doing it in a soulless building, the atmosphere of which was about as far from the enticing glimpse life on the ocean's waves that a boat show suggests as is possible, even with the pictures of seagulls on the ceiling.

I was also surprised at how quiet it is, both at the show and outside.

Travelling by train to the show from Southampton I didn't see one poster advertising the event and there was no hubbub of excitement as we neared the venue.

And once inside, a closer look at many of the busier-looking stands revealed that there were often twice the number of staff as visitors.

And according to the trades I spoke to it had been even quieter earlier in the week.

Talking to exhibitors about the show and how it compared to the Southampton equivalent revealed that they were noticing the impact of the lack of visitors on their pockets.

Several of the representatives of local companies, which had paid handsomely for their pitches at the show, said that they had suffered such financial losses at the show that they might not even come in the future.

Dead on its feet Expressions such as: "Sales? What are sales?" "It's like a plane going down," "I think people will pull out if it stays like this" and "It's dead on its feet" were used.

Everyone had their own idea of why the show was not the success it should have been.

A difficult to reach venue with no surrounding facilities was cited by many.

Others noted the limited attractions and entertainment at the show itself, the lack of clear themes to areas, the lay-out, the building and the organisation.

Some only found out at a late stage the location of their stand, others were missed off the exhibitors guide.

There also seemed to be a distinct lack of advertising, including road signs.

David Allen, managing director of Hamble-based Southwater Marine, which sells sports boats and cruisers, said that while sales in general are doing well, sales at the show were most definitely down.

When I asked him how the London show compared to the Southampton one an almost misty look came to his face.

"For me the Southampton show is THE show," he said as we sat in one of his show boats.

"It's easy to get to, it's a pleasant environment and it's got a good atmosphere. This show lacks a soul - the Southampton show has that.

"You also get a wider range of boats in Southampton. Southampton has character and Earls Court, where the London show used to be held, had that too.

"There are other things for the family to do there as well - there are restaurants and you can go shopping outside of the show."

Atmosphere Charles Massey, of Southampton-based cargo logistics company Peters and May, agreed that the Southampton show is far pleasanter.

"It's easy for people to get there, there's more of an atmosphere and it's on the waterside," he said.

He added that his company did better business at the Southampton show but came to London to have a presence and to network.

Mark Agg-Jones, owner of clothing and equipment shop Spot on Water in Mudeford, had a lively display and music and dry ice pumping out at his stall but he was struggling to keep his spirits up in the face of lack of customers - and profits.

"It's hard work this year," he said. "There is good interest from the people we see but the numbers aren't there."

In fact Mark and his team have found themselves with so few visitors to keep them busy that he had even nipped off and auditioned for TV show Big Brother.

Andy Goddard, co-director of Southampton-based Andark Diving and Watersports, said it was not fair to compare the London and Southampton shows as they are very different events.

But he agreed with the other local businesses that attendance figures, and therefore profits, are far better at the Southampton show.

The state of the London Boat Show may not be good news for the industry but it could well be good news for Southampton.

The Southampton show may well get a boost in both exhibitor and visitor numbers as people turn their backs on London.

After all, it has a waterfront location, excellent surrounding facilities, lots of attractions for all the family at the show itself and with good transport links.

The London Boat Show may be big, but it seems Southampton is definitely best.