Superyacht sales figures have shrunk but the values and sizes of boats sold are up, suggesting that those who are buying are not pinching the pennies.
June 2012 in numbers
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We were informed of 15 sales in June, a drop from May’s 17 sales and a stark contrast to 34 during the same period last year. But a closer look at the statistics shows a silver lining to the cloud.
In terms of the number sold, brokerage in June 2011 was indeed buoyant, the 34 sales representing an increase of 62 per cent on the 21 of a year previously. But these sales were of smaller yachts, with only two over 50m – Dona Amélia (then-Haida G) and M5 (then Mirabella V) – compared to five in June 2010.
In contrast, June 2012’s sales may have dropped, but sizes and values were up, with only two of the 15 sales measuring less than 30m. This meant that the 42 per cent month-on-month drop in sales was accompanied by only a 27 per cent drop in total asking prices, and a 28 per cent drop in total length – the largest sale being a 104m Blohm + Voss.
It’s also worth noting that four of June’s 15 sales were of sailing yachts. It is an unusually high proportion, especially given the recent slowness of sailing yacht sales we reported in May.
New to the market
The number of yachts coming to the market remains steady, with around 30 entering the market each month. We were informed of 31 in June, a 3 per cent increase on May and a 7 per cent increase on June 2011. The largest new entry in June was the 69m Tu Moana.
Prices continue to drop, with 60 reported in June, the largest reduction being the 34 per cent knocked off 31.09m Gazelle. The number of reductions is down 30 per cent on last month and up 10 per cent on June last year, but the average reduction remains around 12 per cent.
We were told of 15 new orders in June (nine motor and one sail), compared with nine in May and five in the same period last year. The orders included three that suggest the Asian market may be hotting up – a 34.1m motor yacht at Alexander Marine in Taiwan and a 32m motor yacht at horizon in Taiwan. The largest order placed was for a 76.6m motor yacht at Piriou in France.
We were informed of 10 launches in June, compared with 22 in May – a commonly high-rating time for launches, as owners prepare for summer jaunts – and 16 in June last year. Three of June’s launches were sailing yachts and four of were built by Italian yards. The largest was the Heesen 47m My Secret.
Deliveries were down in June, with 15 reported, compared with 18 in May and 20 in the same period last year. The largest was the 85m Lurssen Ace, but other significant deliveries included the 72.64m Proteksan-Turquoise Vicky.
A comprehensive report on activity in the first half of 2012 will be published soon.