The 44m Heesen build, M/Y Sibelle, has just undergone her fourth price reduction and is now for sale at €15.5 million, 76.5% of her original asking price. The two-boat owner took delivery of his new vessel and third Heesen, 50m Sibelle, in March 2015 and has since periodically reduced the price of the 44m build, with two price reductions in 2015 and two in 2016.
“As soon as we made the pricing adjustment, we got nine enquiries within a day”, begins Alex Banning of SuperYachtsMonaco, co-central agent for the sale with Marco Vandoni of Ocean Independence. “The market dictated that she was overpriced to start with, so I think it has taken us about a year to reach a more realistic pricing level.”
The semi-displacement motoryacht is the third hull in Heesen’s 4400 series and was delivered in 2008. The five-stateroom interior was styled by Omega Architects and the owner’s architect, Michael Labazov.
She has just finished maintenance work at IMS Shipyard in Toulon, France. When asked if the yacht will be attending any upcoming boat shows, or moving to recognised superyachting hubs to assist the sale, Banning said “The owner wants to keep her in Toulon, make it easy and get her sold quickly. He didn’t want to register the yacht commercially so she’s only been privately used and he’d prefer to keep her in Toulon where the engine hours will be kept low.”
Banning says the annual operating cost is roughly €1.5 million, so a €20 million investment could purchase the yacht and fund the first three years of her operation. Of the 40m+ Heesen listings delivered since 2000, only 44m Kijo (€14.95 million) is now lower in price than Sibelle, but she is five years older. The sale of 44m San Bernardo (2010) in August 2016 for €17 million would also indicate that Sibelle now holds a very competitive position on the market from a pricing perspective.