Monaco Yacht Show: frenetic, at times overwhelming and generally exhausting, it is still the best industry event to really immerse yourself in the world of superyachts. Widely accepted as the shop window for yachts new to the sales market, it can also be an integral part of the marketing strategy when selling your yacht. Managing editor, Angela Audretsch, asked some top brokers how 2013’s MYS went and whether they would still encourage owners to attend.
“I encourage selling owners to 100 per cent attend as there is no better location to showcase the yacht,” says Tim Langmead, a sales broker at Campers & Nicholsons. Sellers this year would have been pleased by the quality of buying traffic. Many brokers are reporting a superior calibre of client this year than perhaps in previous years, where footfall was maybe higher but the number of serious enquiries as a result was lower. “We have attended every show since its inception and this year’s show was lighter on foot traffic than recent years,” Jonathan Beckett, CEO of Burgess tells us. “But crucially the footfall was the good quality footfall of well qualified owners and clients.”
On the other side, for those in the market to buy, MYS is a one-stop shop for the newest superyachts to hit the market; an excellent opportunity to avoid having to fly from place to place to see one yacht at a time. “For owners considering upgrade or new build it is a very efficient way to see variety of yachts for sale and built by different shipyards,” says Jukka Kaukonen, managing partner at KK Superyachts. “It is especially useful when one is considering options for new build yard.”
Simon Turner of Northrop & Johnson says that for those looking at the resale market, MYS is a great chance to see a wide selection of what is available in a condensed period of time. “If clients are interested in big yachts, particularly over 45m, then there is no better opportunity in the world,” he says. “I had a group of clients in for a full day and they saw 14 yachts that were all of interest to them. By the end we were focused on just two. It proved incredibly useful to spend time with them in this way.”
As predominantly a sales platform, MYS is not particularly aimed at charter clients, but Turner tells us that this year there seemed to be more charter clients wandering the docks than in previous years. Trahir says that Edmiston encourages some of its charter clients to attend. “Many of our charter clients are actively looking to purchase and many clients who are looking to purchase will charter in the interim,” he says.
The consensus this year from most brokers is that MYS was extremely positive and though the proof will be in the pudding over the next few months as to how many sales are made off the back of the show, the positivity in itself bodes well. Positivity breeds optimism and makes for a welcoming industry to become a part of. For Beckett and Trahir, the positivity partly springs from both buyers and sellers understanding the market better now and having more realistic expectations. “I am optimistic that there is now a much clearer understanding of where the market really is, both from a buyer’s perspective and also from a seller’s perspective,” says Beckett. “Finally buyers and seller are playing on the same playing field!”
“I encourage selling owners to 100 per cent attend as there is no better location to showcase the yacht,” says Tim Langmead, a sales broker at Campers & Nicholsons. Sellers this year would have been pleased by the quality of buying traffic. Many brokers are reporting a superior calibre of client this year than perhaps in previous years, where footfall was maybe higher but the number of serious enquiries as a result was lower. “We have attended every show since its inception and this year’s show was lighter on foot traffic than recent years,” Jonathan Beckett, CEO of Burgess tells us. “But crucially the footfall was the good quality footfall of well qualified owners and clients.”
Credit: Tom Vano
The big brokerage news this year was the sale of Dunya’s M/Y Red Square by YPI, but in general, the level of serious enquiries this year was up. “We had over 150 inspections onboard throughout the four days, and a good number of those had wanted to inspect Family Day with a view to purchase,” says Langmead. For Beckett as well, Burgess saw an increase in enquiries: “it was surprising to receive so many offers on yachts at the show”. Rory Trahir tells us that Edmiston also received a solid level of interest in many of its yachts, but caveats this with the fact that it “will take up to six months to gauge the true value of the show.”On the other side, for those in the market to buy, MYS is a one-stop shop for the newest superyachts to hit the market; an excellent opportunity to avoid having to fly from place to place to see one yacht at a time. “For owners considering upgrade or new build it is a very efficient way to see variety of yachts for sale and built by different shipyards,” says Jukka Kaukonen, managing partner at KK Superyachts. “It is especially useful when one is considering options for new build yard.”
“For owners considering upgrade or new build it is a very efficient way
to see variety of yachts for sale and built by different shipyards”
Jukka Kaukonen, KK Superyachts
Jukka Kaukonen, KK Superyachts
Simon Turner of Northrop & Johnson says that for those looking at the resale market, MYS is a great chance to see a wide selection of what is available in a condensed period of time. “If clients are interested in big yachts, particularly over 45m, then there is no better opportunity in the world,” he says. “I had a group of clients in for a full day and they saw 14 yachts that were all of interest to them. By the end we were focused on just two. It proved incredibly useful to spend time with them in this way.”
Credit: MC Clic
For first time buyers though, MYS can be a bit of a baptism of fire. “I enthuse with buying clients to come to shop around, but for first timers it can be a bit bewildering and a negative to be thrust into the melee of a busy MYS,” Langmead tells us. “I encourage it on a case by case basis.” For Beckett, like others, MYS presents a convenient opportunity to see a lot of inventory, especially new deliveries, in one place at the same time but it is not completely essential for buyers to attend: “There is a boat show 365 days a year for serious clients and some prefer to conduct business in a more private environment.”As predominantly a sales platform, MYS is not particularly aimed at charter clients, but Turner tells us that this year there seemed to be more charter clients wandering the docks than in previous years. Trahir says that Edmiston encourages some of its charter clients to attend. “Many of our charter clients are actively looking to purchase and many clients who are looking to purchase will charter in the interim,” he says.
The consensus this year from most brokers is that MYS was extremely positive and though the proof will be in the pudding over the next few months as to how many sales are made off the back of the show, the positivity in itself bodes well. Positivity breeds optimism and makes for a welcoming industry to become a part of. For Beckett and Trahir, the positivity partly springs from both buyers and sellers understanding the market better now and having more realistic expectations. “I am optimistic that there is now a much clearer understanding of where the market really is, both from a buyer’s perspective and also from a seller’s perspective,” says Beckett. “Finally buyers and seller are playing on the same playing field!”
