September saw a number of 2009 brokerage sales records broken, with 24 superyachts reported sold at asking prices totalling nearly €374 million. This was well above the combined total of July and August of €340 million and, indeed, the first four months of the year when, between January and the end of April, yachts at total asking prices of €372 million were sold. It was also the month when very large yachts came into their own, as Lurssen’s 59.4m Oasis, the 70.5m Boadicea from Amels, Benetti’s 56m Allegro and the 64.5m My Shanti, again from Amels, all found new owners. So, have we moved from the slough of despond to the broad, sunlit uplands of increasing volumes and values of sales?
Charlie Birkett of YCO comments: “Understandably, expectations for what was once the start of the busiest season for yacht sales were conservative across the industry this year, and major brokerage houses reacted cautiously even to the apparent signs of recovery in August. However going into September we saw recovery consolidated somewhat with sales of the 60m+ yachts of prestigious yards and, speaking to other leading brokers at this year’s Monaco Yacht Show, the mood was certainly more optimistic.”
The data presented below is based on reported sales by brokers and the yachts’ asking prices at the time of sale and of course we have to remind readers that some sales are so discreet that they pass under the radar.
Going back to Charlie Birkett at YCO, he concludes: “It is true that brokers are working harder than before to secure a sale but this is no bad thing, and the future for the astute, knowledgeable broker is certainly looking brighter now than this time last year.”
The first chart below shows the value of yachts sold since January 2009 and clearly demonstrates September’s large market share for the year so far, looking like a Manhattan skyscraper on Main Street USA.
Superyacht Sales by Month, January – September 2009
The second chart below indicates the value of sales by length and shows that large yachts in the 50-70m range, at €323 million, have finally overtaken those in the 40-50m range, currently at €299 million. Meanwhile, the sale of the 70.5m Boadicea adds an extra fillip to the 70m+ size of superyachts, with total values sold in 2009 running at €394 million.
Superyacht Sales by Length, January – September 2009
Malcolm MacLean
Email: malcolm.maclean@boatinternational.com
Tel: +44 1294 551900
NOTE: The above charts were prepared using the last known asking price
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