Market insights with Moravia Yachting
We speak to two senior team members from Moravia Yachting for reflections on 2021, trends, advice, and more……
For owners and guests, choosing a charter and sales broker with acute industry insight is key to navigating the yachting world. A historic brokerage house acquired by Hill Robinson in 2016, Moravia Yachting is a trusted resource for clients across the globe. Following a successful summer and productive Monaco Yacht Show, the team is well-placed to offer discerning market knowledge to their clients.
For William Molloy, Senior Charter Broker at Moravia, the main takeaway from this year’s summer season has been how active it was. In spite of the travel restrictions and the hesitancy caused by the COVID-19 pandemic, by June 2021 the majority of the charter fleet was fully booked for the high season months of July and August. Certainly, the best yachts with quality charter reputations…It is worth noting that the re-scheduling of 2020 charters influenced the 2021 season. However, the attractive elements of chartering – private travel, a dedicated team of professionals, the cleanliness of yachts, an oasis for friends and family – brought in new clients during the COVID-19 pandemic who may not have previously considered it.
William Molloy, Senior Charter Broker at Moravia
Looking ahead to 2022, William anticipates an even healthier charter market and suggests that clients begin thinking about their holidays now. “It’s never too early to start looking at next year’s charter,” he advises. ”Don’t wait if you know your preferred location and dates. Speak to your broker as soon as possible and you will be able to choose from a wide selection of yachts for your first choice dates and locations.”
The strength of the charter season has encouraged many owners to place new vessels on the market. To ensure their yacht stands out, William reiterates the huge emphasis that clients should place on crew, water sports equipment and on board experiences, as well as explaining how vital it is to invest in excellent photography, marketing and a website for prospective clients, to be supported by a proactive broker with strong relationships with charter managers. “It’s very important to invite selected brokers to come for lunch so they can see the yacht up and running. It’s also great to enter the yacht into a charter show and allow prospective clients to experience life on board.”
The Moravia team reported a strong return to the Monaco Yacht Show this year and, although the number of attendees was smaller than in recent years, William saw “quality clients with genuine intentions” throughout his time at the show. This sentiment is echoed by Adam Papadakis, Senior Sales Broker for Moravia Yachting. “It was such a great show for Moravia, and it was the first time our team that had significantly expanded over the last year has been together in a long time. It created a lot of momentum with lots of long-standing, but also new clients coming by to meet our brokers, and it always encourages us to deliver the best possible service to clients.”
Adam agrees that the market has rebounded in 2021 and he describes a particularly good performance in the 25-40m sector as well as the larger 70m+ one. “The market has exploded in activity recently and there have been record sales so I’m cautiously optimistic about the general health of the industry,” he says. Many first-time owners are also entering into the market with larger vessels than in previous years, Adam notes, with 30-40m vessels appearing to be a favourite size with new clients. And as with the charter market, an enthusiastic trusted sales broker is a key piece of the puzzle for clients wishing to make an acquisition. “The strength of a good broker is to be able to listen. The broker’s job is to help the buyer, so the clients need to come in with an open mind and the broker can then draw on their knowledge of the market and narrow down the potential options that suit their needs, as well as make good investment sense,” Adam remarks.
Adam Papadakis, Senior Sales Broker for Moravia Yachting
The positive reports from the Moravia Yachting team (and the wider industry) are an excellent sign of the market’s health as we move into 2022. For further information on the full complement of Moravia Yachting’s services, visit www.MoraviaYachting.mc
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