In recent months, the industry has seen a flurry of new listings on the second-hand yacht market. While superyacht owners are looking to capitalise on buoyant market conditions, prospective buyers are left to try and make sense of it all. So how can navigating the market be made easy?
To get to grips with market dynamics, prospective buyers will benefit greatly from the guidance of a knowledgeable and reliable broker. Moravia Yachting’s Andy Holmes is one broker that regularly takes the time to review and analyse the market conditions to better serve his clients. “The past few years have been turbulent for the brokerage market,” he says. “The early 2020s began with the COVID-19 pandemic that brought the yachting industry to a temporary standstill. That standstill was then quickly followed by a boom in sales, which caught many in the industry by surprise.”
Andy guided many clients through the post-pandemic boom, and is now helping those who are looking to make the most of today’s market. During September 2022, there was a surge in the number of owners – 162 in total – listing their yachts for sale. According to exclusive BOATPro data, the new listing values exceeded €1.4 billion for the first time in 2022. This record-breaking figure was likely due to owners choosing to list their yachts to take advantage of the boat show season. One of the extraordinary vessels that came onto the market around this time was the 86-metre B2 built by Abeking & Rasmussen.
B2 is one of the larger listings currently on the market and is for sale with Moravia Yachting. “B2 poses an exciting purchase opportunity in today’s market,” says Moravia’s Head of Sales and broker for B2, Adam Papadakis. “She is a vessel that ticks many boxes for different modes and areas of operation. She combines the existing pedigree of the Abeking & Rasmussen with an outstanding Reymond Langton design, whereas the refreshed interior style from Winch Design takes the yacht to another level of excellence and versatility.”
However, market conditions continue to change, as the total value of new listings recorded in December 2022 was the lowest monthly amount for the previous two quarters at €216.7 million. These fluctuating figures, along with increasing inflation, supply chain restrictions and volatile foreign exchange rates, not only present an element of unpredictability for the future, but gives a prospective buyer even more reason to rely on the advice and expertise of a broker. But what should potential buyers look for when choosing a yacht broker to help them navigate the purchasing process?
Discretion and confidentiality
The brokers at Moravia Yachting work with the utmost confidentiality and discretion. “In our business, there is a lot at stake and significant amounts of money involved,” explains Adam. “Clients want to feel comfortable with their broker and be confident that we’re looking after their best interests for the long term and, most critically, we will be there to support them throughout the ownership cycle and not just during a transaction – this is what ultimately creates long-term business relationships.”
Confidentiality applies in all commercial aspects of a broker’s work, including prices, transaction details and the client’s personal information. “All brokers, yacht managers, lawyers and even yacht crew come across and handle a significant amount of such commercial and legal information daily and adhering to strict confidentiality standards is a must,” adds Adam.
Another key area of focus for Moravia brokers is ethics, behaviour, and client relationships. As Adam explains, “we spend a major part of our time with our clients at their houses, cruising on board their yachts, meeting their friends and family; our code of conduct from the point of making the first contact onwards is to nurture the relationship within an environment of trust, professionalism and controlled intimacy, avoiding pitfalls that will undermine any of the above fundamental principles. Although we work as a close-knit team, we all know what can be disclosed internally and what cannot.”
Industry knowledge and expertise
There are over a thousand new and pre-owned yachts on the market, and so Moravia brokers continuously evaluate the market and, based on this industry intelligence, give clients a refined selection of yachts that suit their needs. Clients also benefit from the brokers’ extensive industry contacts, which include the world’s leading shipyards, granting them access to every available vessel.
When the time comes for sales negotiations, the Moravia Yachting team provides purchase recommendations from both a financial and technical perspective, tailored to the client’s needs. “Our negotiation strategy is based upon our deep background knowledge, which can in turn result in reasoned discounts to the asking price,” explains Andy. “We personally inspect potential yachts with clients, or at least on their behalf, and then recommend both a survey and sea trial in the sales contracts to be completed prior to closing.”
Moravia has built a team of highly qualified brokerage professionals that continue to grow with the instilled values of confidentiality and discretion. The company’s holistic approach to yachting is currently benefitting many owners, including the owners of the above-mentioned 86m B2, 50-metre Zeus 1, the 38-metre Indigo Star 1 or the 34-metre Solis, all of which are listed for sale with Moravia Yachting.
Added value
Owners who choose Moravia Yachting also benefit from the expertise of the Hill Robinson Group. The synergy between Moravia and Hill Robinson provides owners with the right costs, a better experience of superyacht ownership, a personalised service and technical expertise in new build, refit, management, procurement, crew employment and aviation. Therefore, Moravia brokers can help owners make more informed decisions based on the knowledge and experience of Hill Robinson’s international team of 200-plus specialists.
If you’re looking to make a yacht purchase in the future and require trusted guidance to navigate the market conditions and make informed decisions, contact the team at Moravia Yachting directly here.
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