‘Price remains key factor for buyers’ says Rory Trahair of Edmiston
Following the impressive sale of 60m M/Y ‘Nara’ last week, Edmiston speaks with SuperyachtNews.com ahead of the summer season.…
After a little over a year on the market, M/Y Nara was sold last week in an in house deal at Edmiston. Rory Trahair, head of Marketing for the group commented on the sale, that following a price reduction this January, “she was listed for 16 months prior to selling, which in today’s market is relatively quick”. As for 2014 compared to the previous year in sales, Trahair believes “the market as a whole remains fairly consistent with a similar volume of yachts selling in Q1, however, the number of yachts entering the market has decreased by around 20 per cent”.
This year, “price remains the key factor in securing a sale with this level of inventory on the market and this has resulted in the more eager sellers having to become increasingly competitive on price to reflect current market conditions.” While more and more larger yachts are coming on to the market, he believes “the 40-50m market remains the most active, however we are starting to see more activity in the 60m+ market, which is reassuring”.
The week running 7 – 13 May saw eight sales completed, five new central agencies announced, and 10 price reductions made.
Superyacht Sales
The largest sale this week was through Burgess and Merle Wood & Associates with 90.7m Nero. Completed in 2008 as part of the Corsair series, she was priced at €39,950,000 with Bluewater Yachting introducing the buyer in the transaction.
Three sales from Edmiston this week: Jonathan Barbe was joined by Merle Wood & Associates in the sale of 1979 Feadship Royal Van Lent built 60.56m Nara, priced at €9,900,000 in an in house deal; Cornelius Gerling has sold 1998 Benetti built 49.68m QM of London, priced at €9,950,000 and sold in house as well; while Bill Sanderson has sold 1996 Palmer Johnson built 33.52m Keewaydin, priced at $2,975,000 with Ardell introducing the buyer.
Dennis Frederiksen at Fraser Yachts has sold 2002 Feadship built 60.1m Paraffin, listed at €34,750,000, in an in house deal.
Roy Sea of International Yacht Collection has sold 2006 Christensen built 47.85m Lady Janet, priced at $23,900,000 with Luxury Yacht Group introducing the buyer in the transaction.
Moran Yacht & Ship have sold 1999 Trinity built Sea Jewel Bravo, priced at $5,500,000 in an in house deal.
While the final sale this week comes from Mark Osterhaven and Michael Mahan of Worth Avenue Yachts with 1997 Hatteras built 33.53m Waterford. Fox Yacht Sales introduced the buyer at an asking price of $2,495,000.
New Central Agencies
There were five new CAs announced this week, dipping slightly from last week’s seven. The new listings had a total combined length of 188.62m, with their combined asking prices totalling €32,197,767 ($44,420,100).
The largest new CA announced this week was through Jan Jaap Minnema of Fraser Yachts with 2008 Hakvoort built 45m My Trust Fund, priced at €19,500,000.
K&K Superyachts have listed 1986 W. A. Souther & Son’s 41.2m D’Angleterre II back on the market at €3,500,000.
Eric Trupheme of Ocean Independence has placed 2007 Neta Marine built 33m Shanti on the market for €1,490,000.
The final two listings this week are from Worth Avenue Yachts: Osterhaven and Mahan have priced 36.5m 2008 Benetti built Banyan III for sale at $8,950,000; while Lon McCloskey has listed 32.92m 1995 Broward built Aton, for sale at $1,750,000.
Price Reductions
Price reductions rose slightly to 10 this week from last week’s nine. The following yachts are still on the market and looking for a buyer:
The largest yacht to be reduced this week was through Mark Elliott of International Yacht Collection with 2010 Trinity built 49.1m Blind Date, to $19,900,000.
Burgess and Northrop & Johnson have reduced the asking price of 39.3m 2010 Newcastle built Safira to $24,950,000.
Nathan Farrelly of Edmiston has lowered the asking price of 2002 CMN built 42.6m Paramour to €9,950,000.
Two reductions from Fraser Yachts this week: Thorsten Giesbert has now priced 2004 Astondoa built 31m Jubel, at €1,900,000; and Jurgen Koch has reduced the asking price of 1986 Nautor Swan built 30.48m Garuda, to €1,050,000.
Another reduction from Elliott at IYC this week with 2002 Destiny built 31.7m Sharon Ann, now priced at $3,395,000.
K&K Superyachts have reduced 1991 Marinteknik built 43.25m Northern Cross, to €3,950,000.
Moran Yacht & Ship have reduced the asking price of Hakvoort build from 2013, 39.7m Apostrophe, to €24,900,000.
The final two reductions this week are from Worth Avenue Yachts: Osterhaven and Mahan have lowered the price of 2008 Westport built 39.62m JW, to $9,999,000; and Osterhaven has reduced 1999 Westbay Sonship built 31.39m Child’s Play, to $3,195,000.
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This year, “price remains the key factor in securing a sale with this level of inventory on the market and this has resulted in the more eager sellers having to become increasingly competitive on price to reflect current market conditions.” While more and more larger yachts are coming on to the market, he believes “the 40-50m market remains the most active, however we are starting to see more activity in the 60m+ market, which is reassuring”.
The week running 7 – 13 May saw eight sales completed, five new central agencies announced, and 10 price reductions made.
Superyacht Sales
The largest sale this week was through Burgess and Merle Wood & Associates with 90.7m Nero. Completed in 2008 as part of the Corsair series, she was priced at €39,950,000 with Bluewater Yachting introducing the buyer in the transaction.
Three sales from Edmiston this week: Jonathan Barbe was joined by Merle Wood & Associates in the sale of 1979 Feadship Royal Van Lent built 60.56m Nara, priced at €9,900,000 in an in house deal; Cornelius Gerling has sold 1998 Benetti built 49.68m QM of London, priced at €9,950,000 and sold in house as well; while Bill Sanderson has sold 1996 Palmer Johnson built 33.52m Keewaydin, priced at $2,975,000 with Ardell introducing the buyer.
Nara
Dennis Frederiksen at Fraser Yachts has sold 2002 Feadship built 60.1m Paraffin, listed at €34,750,000, in an in house deal.
Roy Sea of International Yacht Collection has sold 2006 Christensen built 47.85m Lady Janet, priced at $23,900,000 with Luxury Yacht Group introducing the buyer in the transaction.
Moran Yacht & Ship have sold 1999 Trinity built Sea Jewel Bravo, priced at $5,500,000 in an in house deal.
While the final sale this week comes from Mark Osterhaven and Michael Mahan of Worth Avenue Yachts with 1997 Hatteras built 33.53m Waterford. Fox Yacht Sales introduced the buyer at an asking price of $2,495,000.
New Central Agencies
There were five new CAs announced this week, dipping slightly from last week’s seven. The new listings had a total combined length of 188.62m, with their combined asking prices totalling €32,197,767 ($44,420,100).
The largest new CA announced this week was through Jan Jaap Minnema of Fraser Yachts with 2008 Hakvoort built 45m My Trust Fund, priced at €19,500,000.
My Trust Fund
K&K Superyachts have listed 1986 W. A. Souther & Son’s 41.2m D’Angleterre II back on the market at €3,500,000.
Eric Trupheme of Ocean Independence has placed 2007 Neta Marine built 33m Shanti on the market for €1,490,000.
The final two listings this week are from Worth Avenue Yachts: Osterhaven and Mahan have priced 36.5m 2008 Benetti built Banyan III for sale at $8,950,000; while Lon McCloskey has listed 32.92m 1995 Broward built Aton, for sale at $1,750,000.
Price Reductions
Price reductions rose slightly to 10 this week from last week’s nine. The following yachts are still on the market and looking for a buyer:
The largest yacht to be reduced this week was through Mark Elliott of International Yacht Collection with 2010 Trinity built 49.1m Blind Date, to $19,900,000.
Blind Date
Burgess and Northrop & Johnson have reduced the asking price of 39.3m 2010 Newcastle built Safira to $24,950,000.
Nathan Farrelly of Edmiston has lowered the asking price of 2002 CMN built 42.6m Paramour to €9,950,000.
Two reductions from Fraser Yachts this week: Thorsten Giesbert has now priced 2004 Astondoa built 31m Jubel, at €1,900,000; and Jurgen Koch has reduced the asking price of 1986 Nautor Swan built 30.48m Garuda, to €1,050,000.
Another reduction from Elliott at IYC this week with 2002 Destiny built 31.7m Sharon Ann, now priced at $3,395,000.
K&K Superyachts have reduced 1991 Marinteknik built 43.25m Northern Cross, to €3,950,000.
Moran Yacht & Ship have reduced the asking price of Hakvoort build from 2013, 39.7m Apostrophe, to €24,900,000.
The final two reductions this week are from Worth Avenue Yachts: Osterhaven and Mahan have lowered the price of 2008 Westport built 39.62m JW, to $9,999,000; and Osterhaven has reduced 1999 Westbay Sonship built 31.39m Child’s Play, to $3,195,000.
Please send all brokerage news to newsdesk@thesuperyachtgroup.com
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