Brokers review the 2014 sales market
With positive shoots across the market, 2014 will go down as a steady and positive year for the sales market. This was the first year post-GFC that brokers can agree the market has reached steady ground again with many excited for 2015.…
While 2013 closed with noticeably fewer price reductions, and a steady stream of sales, 2014 continued on this trajectory giving brokers even more reason to be optimistic for the future. Growing interest in the 70m+ market and a clearing away of the lower end 30m range means the market is growing and expanding to demand. Here brokers share their views on the close of another year and what we can expect in 2015.
Have you noticed any trends in the market this year? How do you see them affecting 2015?
"The main trend we experienced was the clients that didn't buy over the spring season remained active. Contrary to previous years, they may have settled on something that didn't quite fit their requirements as they were desperate to get to get on the water, or the urge maybe even fizzled away. However, the more stable economy and available inventory meant those clients remained active and willing to buy as soon as they found a yacht to suit their requirements." – Harry Bristow-Holmes, brokerage director, Sunseeker
"Sales will continue to steadily increase and new construction will take a leading role as buyers struggle to find the yacht that they are looking for as the used market clears up." – Kevin Merrigan, CEO, Northrop & Johnson
"The most noticeable trend to me is the market taking interest in new build yachts. In fact, most of the designers I know are frantically busy, most drawing yachts over 70m for some of the top shipyards." – Chris Cecil-Wright, founder, Cecil Wright & Partners
"Sales will continue to steadily increase and new construction will take
a leading role as buyers struggle to find the yacht that they are
looking for as the used market clears up."
– Kevin Merrigan, CEO, Northrop & Johnson
– Kevin Merrigan, CEO, Northrop & Johnson
Are you noticing a change in what clients are looking for?
"Clients are still very price driven and seeking out 'the deals' as much as the perfect yacht. There is a strong demand for larger yachts, and unbelievably, in the 100m+ sector, the demand is outstripping the supply." – Jonathan Beckett, CEO, Burgess
"There are more buyers out there than in 2009 but they are still looking for fair prices and value on quality products. The pedigree yachts and brands have a stronger appeal especially amongst new buyers, with many new clients coming to us with more precise ideas of what they're looking for, armed with plenty of education and research." –
Laurent Perignon, COO, Camper & Nicholsons International
"The only real change I see is that clients are more savvy with pricing now and they appreciate gross tonnage as a more accurate way of estimating a yachts size than length." - Cecil-Wright
Are there lessons we can carry forward into 2015 to continue this healthy trajectory?
"There is no magic formula. The constant lesson is: the harder you work, the more fruitful you can be!" – Jonathan Beckett, CEO, Burgess
"Be bold, creative, innovative and forward thinking. The industry may have returned to some sort of the conservatism in the gloomy post-GFC days, but innovation today remains key to a bright future tomorrow." – Laurent Perignon, COO, Camper & Nicholsons International
Have you been keeping an eye on the resale and brokerage market, as a buyer or seller? If so, how have you found it? Share your thoughts and observations with The Superyacht Owner by emailing info@thesuperyachtowner.com.
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