27 Aug 2013

By
Rebecca Curran

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With show season around the corner, many brokers are preparing themselves for what can be one of their most prosperous times, but also, one of the most hectic few weeks in their calendars. Benedict Ridge, founding member of Edmiston and now owner of his own company, The Private Yacht Company shared his own visions for how the market is faring in the run up to the shows. “MYS in particular with display a flurry of new launches and even more advances in technology. Although, let’s all hope that it remains a selling show first and foremost rather than becoming a trade show. While access to impartial advice has always been hard to find in our industry, it is essential and actually highly sought after by buyers and charters alike.” While climbing out of a recession, Ridge thinks this has begun to change the way we operate and do business. “The slow recovery of the yacht industry has forced many brokerage houses and shipyards to rethink the way they operate, as current owners grow older, the yacht industry must entice and engage with a new generation of yacht owners who will have fresh ideas and will need our help in selecting and owning the right yacht”.

The week running 20 – 27 August saw four sales completed, nine new central agencies announced, and eight price reductions made.

Superyacht Sales

The largest sale completed this week was 46m Elle, completed by Tacoma Puglia in 1993. Listed through Stuart Larsen of Fraser Yachts and The Marine Group, she was listed at $10,900,000 with Liberty Yacht representing the buyer.

Jeremy Comport and Richard Higgins of Camper Nicholsons have sold 2009 CRN built 39.6m Lady Belmor at €9,995,000 with Sovereign Sea Hermes representing the buyer.

Cape 4 Yachting has sold 1995 Vitters built 31m Ninemia of London on the market at €1,950,000 with Van Der Vliet of Holland representing the buyer.

The final sale this week comes from Axel Douque of Ocean Independence with 1949 Arsenal built 34.6m Polycarpus listed at €2,950,000.

New Central Agencies

There were nine new CAs announced this week, on par with last week. The new listings had a total combined length of 343.33m, with their combined asking prices totalling €54,303,749 ($72,554,466).

The largest new CA announced this week was through Mark Elliott of International Yacht Collection with 47.5m Piano Bar. Completed by Picchiotti in 1982 and refit this year, she is currently on the market at $5,900,000.

Three new listings from Nigel Wales of Arrival Yachts: 2004 Maiora built 31m Virginia VII is for sale at €3,900,000; 2003 Azimut built 30.75m Ganesh A is on the market at €2,300,000; and 29.7m 2008 Custom Line built Dalfa is listed at €4,900,000.

David Lacz of Bartram Brakenhoff Yacht Brokerage has listed 41.8m Syrenka, completed by Palmer Johnson in 1994. Having completed an extensive two year refit last year, she is now on the market at $6,995,000.

Brian Huse of Freedom Marine has listed 36.58m Kahu, recently converted by Fitzroy Yachts, on the market at $3,500,000.

HYS Yachts has listed the 2011 HYS converted Dr. No, on the market for $5,900,000.

Ciro Petrucci of Petrucci Yachts has listed 45m No Lo Se, completed by Abeking Rasmussen in 1974 and refit in 2008/09, for sale at €6,000,000.

The final new listing this week comes from SuperYachtsMonaco with 44m Hayken. Built by Heesen Yachts in 2009, she now on the market at €20,500,000.

Price Reductions

Price reductions rose slightly this week with eight announced, compared with the seven reductions from last week. The following yachts are still on the market and looking for buyers:

The largest yacht to be reduced this week was 67m Shadow Marine built Global, currently listed through Moran Yacht Ship at $14,950,000.

Chris Chumley of Northrop Johnson has reduced 30.7m Ar De, completed by Burger in 1996, to $2,795,000.

OceanStyle has reduced the asking price of 2010 29.8m Sunseeker built My Way to £4,900,000.

Steve Martin of Sanlorenzo Americas and Yacht Blue has reduced 2008 Sanlorenzo built 33m Sanlorenzo 108 to $5,995,000.

Simpson Marine have announced a reduction on 45.7m O’Khalila, completed by Palmer Johnson in 2007, to $12,000,000.

Tom George of Tom George Yacht Group has reduced 2003 32.3m Lazzara built Stop the Press, to $4,350,000.

Simon Gibson and Mark Osterhaven of Worth Avenue Yachts have announced the reduction of 1991 Broward built 36.58m Sovereign to $2,095,000.

The final reduction this week comes from YachtZoo with 41m Sophie Blue, completed by CBI Navi in 1998 and now for sale at €5,500,000.

Please send all brokerage news to newsdesk@thesuperyachtgroup.com

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