Superyacht sales have made a big comeback post-pandemic. With the likes of the giant 126-metre Octopus, and the smaller Moon Sand all finding new owners, it feels like a good time to review the recent goings-on, and who better than the team at Burgess to give some insight. The firm’s head of sales, Richard Lambert, sees first-hand how the market moves and so, we asked him to give us some statements about what it all looks like from Burgess HQ.
The interest in yachting is increasing and this is partly due to the heightened opportunity for yacht owners to enjoy time on board with family and friends in a safe and controlled environment. Yachting provides an unrivalled level of freedom – something which has been well sought after in recent times. We are also seeing long-term and loyal charter clients take their first steps into ownership as they recognise the value in ownership and how it allows for more usability in any location at any time.
The market has been very active and has been for the past 12 months. At Burgess, we witnessed an increase in brokerage sales that started gathering momentum during July 2020. This spike continued to grow throughout the remainder of 2020 and into 2021 and as a result, we have experienced good levels of activity across 30-metre-plus market segments.
There is more pressure on the supply chain in certain sectors, and this is due to the rise in activity in the new-build market. In turn, this has caused delivery times for new-build projects being extended which has made owners and clients revert back to the brokerage market. We are therefore seeing less inventory available for sale in comparison to previous years, which is why we are advising our owners and clients that it is even more important to speak to a professional broker. A broker can not only lend expert advice and guidance on how best to navigate the market right now, but can offer an insight into any discreet listings that are not publicly listed for sale. Brokers can also advise on series constructions, which in comparison to a custom build, can get buyers on board quicker.
Over 50% of sales at Burgess have been in the sub-50m market. Most recently, we closed the sale of the 33.4-metre Mangusta 108 YALLA, which marked our 55th sale in the 18 months since January 2020 of everything from yachts over 90 metres, 10-metre tenders, explorers, sailing yachts, planing yachts, displacement yachts, yacht support vessels, to berths! The 40.8-metre Sanlorenzo motor yacht Stella Mia was another notable sale in June 2021, as well as the 44.2-metre Feadship motor yacht Moon Sand which sold in the same month. One of the yachts for sale that really stands out at the moment is one that we have just put on the market, and that is Moon Sand Too. She was delivered in 2016, is currently in Hong Kong and is an exceptional 33.9-metre build by Feadship. What is so great about her is she was the first in the limited-edition Lagoon Cruiser series by Feadship and comes with the ability to cruise in shallow waters.
There is a need for live industry events, however, this year I feel it will still be challenging for these events to go ahead with travel restrictions remaining in place across the globe. At Burgess, we have invested heavily in our digital presentation tools which helps clients to interact with any brokers, captain and crew, as well as offer a virtual/360-degree tour. Clients who have used these tools have been able to get an excellent insight into a yacht without being there in person. But, that said, virtual solutions can never replace the feeling of physically being on board.
Burgess will be exhibiting in a controlled and safe environment at the Cannes International Yacht Festival and the Monaco Yacht Show this September. To find out more about the yachts currently listed with Burgess, visit the company website directly here.
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