With a grand total of 429 sales, 2017 was the busiest year for the brokerage market since the global financial crisis. To find out what was behind this surge and get some predictions for the year ahead, we spoke to six leading industry figures.
“The year started cautiously, however, as 2017 progressed there was an increase in momentum with the sub-50 metre market proving particularly strong in comparison to previous years,” reports Richard Lambert, head of sales at Burgess. “The larger yacht market did not perform as strongly, the primary driver for this was probably the reduced inventory of yachts for sale in this sector.”
His comments are borne out by the data as the average length of yacht sold in 2017 fell to 35.43 metres from 35.82 metres the year before, despite the high-profile sale of 107.4 metre Ulysses (pictured above) that Burgess and Fraser concluded in October.
Looking ahead to 2018, Lambert continues, “The USA is still the largest market worldwide, however Burgess is investing in new markets globally, especially in Asia.
“The most popular destinations have not changed, with the Western Mediterranean still proving to be the most favoured cruising location, followed closely by the Adriatic. The Caribbean has fared pretty well considering the unfortunate aftermath effects of the hurricanes. Asia still has considerable untapped potential as a winter destination.”