June 2012 Market Report

HIGHLIGHTS

Buying a yacht? Questions you will be asked
Yachting experts share the question they ask the seller of a yacht, which help the buyer make the right purchase.

How to make build contracts watertight
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.

FEATURES

Keel design for shallow water
As the size of sailing superyachts increases, so do their keel. We spoke to some leading designers to find out what problems yachts’ deepening drafts present, and potential solutions

The new J Class sailing yacht Lionheart
Designer Andre Hoek reveals how he was able to merge traditional J Class design with modern sailing technology to create Lionheart, the first new J Class sailing yacht launched in this decade.

YACHT LISTING SEARCH

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

15	10	15	31	60	15
New orders	Launches	Deliveries	New for sale	Price updates	Yachts sold

Brokerage Sales

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.

Superyacht sales in 2012

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.

Price reductions

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.

New orders

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.

New superyacht orders in 2012

Launches

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.

Superyacht launches in 2012

Deliveries

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.