Older yachts are changing hands
The volume of superyacht sales in 2016 so far is very similar to the first seven months of 2015, with 227 sales completed this year, compared with 230 in the same period of last year. However, one trend that we have observed is a slight rise in the number of older yachts that are changing hands.
The average age of a yacht sold between the months of January and July 2016 is 12.05 years, compared with an average age of 11.62 years for the same period last year and 11.66 years in 2014.
Vassilis Fotilas, commercial director for Europe at Fraser Yachts has noted this pattern. “The average age of yachts sold remains fairly stable; 12 years in 2015 and 13 years in 2016,” he told Boat International.
“Positive news comes from the sailing yacht market, which after a couple of slower years is back to more normal levels,” Fotilas adds, reinforcing a point we observed in our superyacht market report for June 2016.
Key examples of older yachts being successfully sold include the 1929 J-Class yacht Shamrock V (pictured above), which was sold in March byEdmiston & Company, and Fraser Yachts’ April sale of 1966 explorer yacht Amazon Express.
Meanwhile, Alev Karagulle from Burgess Yachts commented: “Burgess has closed on a couple of new yachts this summer, which supports the premise that there will always be buyers with an appetite for new yachts with a strong pedigree. However, the greater trend has been for well maintained and correctly priced yachts over 50 metres of early-to-mid 2000 vintage.”