Palmer Johnson’s 47.7m tri-masted staysail schooner, Arabella, has been listed for sale with Camper & Nicholsons' brokers Eric Dahler and Alain de Grelle. The 1983 custom-built classic, which was formerly sold to the Manhattan Yacht Club in 2013, has an asking price of €2.9 million.

Arabella is unique in that no other sailing yacht over 100ft can accommodate 149 guests for events and 40 for overnight charters,” commented Dahler on the substantial 20-stateroom capacity below deck. To put this into perspective, the average 20th century-built sailing yacht has five staterooms.

Arabella was formerly known as Centurion and had an original LOA of 33.5m. In 1996 she was damaged in a shipyard fire, before Don Glassie and John Taft, successful hotel entrepreneurs from Newport, acquired her in 1998 and used their hotelier background knowledge to restore and outfit her into a floating luxury hotel. Newport shipyard completed a refit in 2000, which involved extending the mid-section by 14.3m, a reincarnation that led to her becoming a USCG-certified charter yacht.

There is yet to be a 45m+ sailing yacht sale in 2015, but as you can see from the chart below, there has been less of a need for price reductions in recent times, indicating a healthier re-sale sailing yacht market at the upper end of the LOA spectrum.

Chart: Average listing & selling prices for 45m+ sailing yachts 2012-2014

LOA: 47.7m
Year of build: 1983
CA: Camper & Nicholsons
Asking price: €2.9 million

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