August 2012 Market Report

HIGHLIGHTS

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The contract a yard gives a client is only the starting point for a negotiation, as it will be weighted in favour of the builder. The owner must ensure that the contract also protects their interests and the project itself.

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YACHT LISTING SEARCH

Topaz is delivered in August and makes her way down River Weser after leaving the Lürssen yard | photo by Claus Scha?fe / TheYachtPhoto.com

August’s sales numbers show an impressive year-on-year jump, but size and price do not compare so favourably.

August 2012 in numbers

3	13	17	37	55	17
New orders	Launches	Deliveries	New for sale	Price updates	Yachts sold

Brokerage Sales

There were 17 brokerage sales in August – a 29 per cent drop on July’s two, but a 42 per cent leap from the same month last year.

Asking prices, however, were down both month-on-month and year-on-year. August’s total sales amounted to €62,652,950 – a 64 per cent reduction from July and a 55 per cent reduction from August last year. The average asking price was €3,685,468, down 49 per cent month-on-month and 68 per cent year-on-year.

Unsurprisingly, given these prices, at 32.79m the average length of boats sold in August was also down – a 10 per cent drop month-on-month and 12 per cent year-on-year.

The largest two sales were oldies: the 53.95m motor yacht Malahne, built by Camper & Nicholsons in 1937, for which the asking price was €550,000; and the 42.06m Amsterdamsche Scheepswerf motor yacht Istros, which was built in 1954 and was asking €5,950,000.

Superyacht sales in 2012

New to the market

Thirty-seven yachts were reported as new for sale in August, up 42 per cent on July, but down 24 per cent year on year. The month’s new crop included two Icon Yachts boats – the 62.5m motor yacht Maidelle, built in 2012, and the 62.5m motor yacht Baton Rouge, built in 2010, as well as the 60m CMN motor yacht Cloud 9, built in 2009, and 79m Royal Denship Pegasus V, built in 2004.

Price reductions

We were informed of 55 price updates in August. The total reductions amounted to €58,202,430, 6 per cent more than the previous month’s and 7 per cent less than the same month last year. The average reduction was €1,058,226, compared to July’s €754,263, a 12 per cent reduction.

The largest drop in August was 63 per cent (€936,000) on 35.5m Amnesia, built in 1990 by Veb J Warnke, which is now at €700,000. Thirty-one per cent (€332,280) was also knocked off the price of 1998, 32.2m Heesen motor yacht The Lady J, now at €949,000. Also of note was the 11 per cent (€7,100,000) reduction on 55m Heesen Quinta Essentia, built in 2011 and now asking €59,900,000.

New orders

New orders were in short supply in August, with only three reported, a 45m at Kaiserwerft in Turkey, a 28.9m at Lazzara in the US and a 24.25m at Alexander Marine in Taiwan. Seven superyachts were ordered in July and five in August 2011.

New superyacht orders in 2012

Launches

Thirteen superyachts were launched in August – five by Italian yards – compared with 20 launches in July and 13 in August 2011. The largest this August was the 85m Lürssen Quattroelle, while the first Ocean Alexander 120 (36.50m) by Christensen also hit the water.

Superyacht launches in 2012

Deliveries

We recorded 17 deliveries in August, not far off July’s 19 or last August’s 16. Owners took possession of yachts including 147m Lürssen Topaz, 49.18m Acico Yachts’ Nassima and Bilgin Yachts’ 48.7m M&M.