‘Market shifting from buyers’ to sellers’ market’ says Darrell Hall of YachtZoo
Following the announcement of their new Icon 100 listing, Darrell Hall of Yachtzoo shares insight into the 2015 market activity.…
As brokerage news has slowed in recent weeks, many brokers have shared that this is not necessarily a bad thing. Sales prices are leveling out; yachts that have sat for sale with reduction after reduction are finally being picked up off the line, making room for new listings as they steadily increase. With a steady stream of sales thus far in 2015, Darrell Hall, partner at Yachtzoo shares, “the market appears to be shifting from a buyer’s to a sellers’ market, evident in the good quality yachts selling easily to clients seeking a good deal. In addition, there has been an upsurge in the requests for steel, long range cruising vessels as clients are becoming more adventurous and are looking to travel to remote destinations in comfort”.
With new build listing Icon 100, the team at Yachtzoo is seeing healthy market recovery post GFC. “In 2014, the yacht industry started to strengthen with the pedigree shipyards seeing an increase in total orders including those for very large yachts” Hall explains. “As we come into the summer season, we see this trend continuing and can be optimistic of a more stable market with better price stability”.
With various comments about the professionalism of the industry, Hall thinks the backlash form the GFC has actually helped to change this perception. “The market is definitely in recovery, but one of the important and often forgotten side-effects of the GFC has been a change in the attitude of the yachting industry to a more professional approach, focusing on quality control, real re-sale value and less unrealistic promises to the clients” he concludes.
The week running 6 – 12 May saw one sale completed, four new central agencies announced and one price reduction made.
Superyacht Sales
The sole yacht sale this week was through Moran Yacht & Ship with 2012 Amels built 54.3m Step One, priced at €37,000,000 with Y.CO introducing the buyer.
New Central Agencies
Four new central agencies were announced this week following on from the three of last week, all announced through Fraser Yachts:
The largest listing is from Stuart Larsen and Richard Earp with 2014 ISA built 66m Okto, priced at €69,000,000; followed by 2013 Timmerman Yachts 44.7m Beluga, listed with Jan Jaap Minnema at €17,900,000; and the final two listings from David Legrand with 1972 CRN built 38.6m Sarita Si, on the market at €6,500,000, and 2009 Benetti built 36.6m African Queen, on sale at €8,500,000.
Price Reductions
There was only one price reduction announced this week, through Moran Yacht & Ship with 2011 Sanlorenzo built 46m Reve D’Or, now on the market at €18,999,000.
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With new build listing Icon 100, the team at Yachtzoo is seeing healthy market recovery post GFC. “In 2014, the yacht industry started to strengthen with the pedigree shipyards seeing an increase in total orders including those for very large yachts” Hall explains. “As we come into the summer season, we see this trend continuing and can be optimistic of a more stable market with better price stability”.
New build concept: Icon 100
With various comments about the professionalism of the industry, Hall thinks the backlash form the GFC has actually helped to change this perception. “The market is definitely in recovery, but one of the important and often forgotten side-effects of the GFC has been a change in the attitude of the yachting industry to a more professional approach, focusing on quality control, real re-sale value and less unrealistic promises to the clients” he concludes.
The week running 6 – 12 May saw one sale completed, four new central agencies announced and one price reduction made.
Superyacht Sales
The sole yacht sale this week was through Moran Yacht & Ship with 2012 Amels built 54.3m Step One, priced at €37,000,000 with Y.CO introducing the buyer.
Step One was sold this week
New Central Agencies
Four new central agencies were announced this week following on from the three of last week, all announced through Fraser Yachts:
The largest listing is from Stuart Larsen and Richard Earp with 2014 ISA built 66m Okto, priced at €69,000,000; followed by 2013 Timmerman Yachts 44.7m Beluga, listed with Jan Jaap Minnema at €17,900,000; and the final two listings from David Legrand with 1972 CRN built 38.6m Sarita Si, on the market at €6,500,000, and 2009 Benetti built 36.6m African Queen, on sale at €8,500,000.
66m Okto
Price Reductions
There was only one price reduction announced this week, through Moran Yacht & Ship with 2011 Sanlorenzo built 46m Reve D’Or, now on the market at €18,999,000.
Reve D'Or was reduced this week
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