The bump in sales is in large part due to greater market confidence from buyers. “We saw buyers making quicker decisions than ever before and a large increase in middle market transactions of 30m yacht owners moving up in size”. As a result, Elliott has seen an increase in sales owing to market confidence and a strong stock market.
Anticipating a busy summer charter season ahead, Elliott and the IYC team are looking to the busier locations to bring in steady bookings. “We have been on edge with the changes in VAT laws in France and Spain and are waiting to see how these will affect our industry. However, there has been a large trend in enquiries from the Bahamas, with Cuba promising to be the next big thing”.
The week running 31 March – 7 April saw two sales completed, three new central agencies announced, and three price reductions made.
The largest deal closed this week was through Dbeere Yachts with 60m St David. Completed in 2008 at Benetti, she was listed at an undisclosed price with the buyer being represented by West Nautical, who will remain on hand to manage and charter the yacht.
The other sale this week was completed through Robert Shepherd of Edmiston with 2010 Hakvoort built 39m Snowbird, priced at €14,900,000 with Northrop & Johnson representing the buyer.
New Central Agencies
New central agency listings came back down to three during this quiet news week, compared to last week’s 10.
The two largest listings this week were through Burgess: 1990 Blohm+Voss built Golden Odyssey II, measuring 80.15m is on the market for $39,950,000; while 2009 Christensen built 48.77m Odessa has come to the firm with new broker Christian Bakewell, with a price tag of $27,900,000.
The final new listing this week was from David Seal of Northrop & Johnson with 2015 Esenyacht built 47.25m Troy, on the market at €29,500,000.
Price reductions dropped down a third to three, following the nine announced last week. The following yachts are still on the market looking for buyers:
The largest yacht to be reduced this week was through Mario Velona of Ocean Independence with 2011 Sanlorenzo built 40.8m Scorpion, now on the market for €11,800,000.
Mark Elliott of International Yacht Collection has reduced 2003 Cheoy Lee built 38.1m Namoh, to $7,950,000.
The final reduction this week was from YachtZoo with 2003 Lazzara built Battleship, now priced at $3,750,000.
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