At the time of writing*, so far this year there have been 268 yacht sales over 24m in the brokerage market, totalling a little over EUR 2.1 billion in listed value. 25 of these sales were over 50m with only one being a sailing yacht – the 51.59m Royal Huisman METEOR (2007 / 2017) asking EUR 15,000,000. Astonishingly, she was only on the market for 49 days from listing to sale. This rather aptly demonstrates our opinion that the flight to quality remains and the most fluid part of the market stands firm as the ‘pedigree’ Northern European yards.
There have been a number of significant large sales of the last 8 months: the 85m Lürssen ARETI (2017) asking EUR 175,000,000, the 78.43m Abeking & Rasmussen EMINENCE (2008 / 2017) asking EUR 80,000,000, the 77.40m conversion LEGEND (1974 / 2016) asking POA, the 74m CRN CLOUD 9 (2017) asking EUR 84,500,000, the 70.20m Lürssen MARTHA ANN (2008 / 2016), the 69.30m Benetti SPECTRE (2018), the 65m Heesen GALACTICA STAR (2013) which was sold at auction and finally the 60.93m Abeking & Rasmussen EXCELLENCE V (2012) asking EUR 69,500,000 which has now joined the Cecil Wright & Partners charter fleet under her new name ARIENCE.
Entering into the market we have a number of interesting options from the top yards; the 85.47m Oceanco SUNRAYS (2010 / 2018) asking EUR 129,000,000 is the largest and the 85.10m Lürssen VALERIE (2011 / 2019) is the most expensive. In addition, we have the 82.48m Abeking & Rasumussen SECRET (2013) asking EUR 119,000,000, the 67.10m Amels AURORA BOREALIS (2019) asking EUR 83,500,000 and the 50m Heesen INCEPTION (2008) asking USD 29,500,000.
Outstanding yachts that are still in the market are the 95.2m KISMET (2014) asking POA, the 88.50m Oceanco BARBARA (2017) asking EUR 165,000,000, the 78.43m AMARYLLIS (2011) asking EUR 99,000,000 and the recently reduced 68.15m Nobiskrug SYCARA V (2010 / 2017) asking EUR 59,500,000. The majority of the above are expected to be in the local area if not in the Monaco Yacht Show itself at the end of September – for further information on any of the above or for further market analysis please do get in touch.
FEADSHIP MARKET
Since 1st September 2018, within what we consider to be the last sales cycle, there have been 14 Feadship sales. The most significant of these in terms of size and value were the 66.25m VANISH (2016) asking EUR 85,000,000, the 57.60m LARISA (2013) asking EUR 37,500,000,
the 56.50m HAMPSHIRE I (2001 /2017) asking EUR 19,950,000 (VAT paid) and the 44.60m BELLA (2008 / 2014) asking USD 20,000,000.
Cecil Wright & Partners was responsible for the sale of VANISH (buy and sell side) and HAMPSHIRE I (sell side), the yachts were listed for 77 days and 91 days respectively before completion. This clearly demonstrates our expertise in the Feadship market and our ability to close sales quickly.
Other sales of significance included:
• BROADWATER – 52m, 1994 / 2017, asking USD 12,900,000
• AUDACIA – 48.50m, 1987 / 2011, asking USD 5,500,000
• CAROLINA – 48.20m, 1997 / 2007, asking USD 14,900,000
• SEA RACER – 46.63m, 2001 / 2017, asking USD 15,000,000
• PRAXIS – 43.30, 1987 / 2017, asking USD 10,000,000
In the same period, there have been 16 additions to the Feadship market, which resupplies a healthy level of inventory. Stand out yachts include: the 73m HASNA (2017) asking EUR 97,500,000 presenting a rare opportunity to buy a nearly new Feadship without the wait for construction, the 68m LADY CHRISTINE (2010 / 2015) asking USD 69,000,000 which has a fully rated helipad and fuel bunkering for heli-ops, the 62m NEW HAMPSHIRE (2005 / 2018) asking EUR 39,950,000 (VAT paid) represents a phenomenal, truly turnkey, opportunity following an EUR 8 million refit in 2017 / 2018, the 55.50m CYNTHIA (2005 / 2018) asking USD 29,500,000 shows immaculately following her refit, and the 44.65m F45 Series GLADIATOR (2010 / 2018) asking EUR 19,900,000 which has come back onto the market a year after she was last sold. The F45 Series yachts continue to turn over on the market and prove to be extremely popular charter vessels, so for owners wanting to offset running costs, an F45 represents a very interesting prospect.
Other additions of note are:
• BLU 470 – 49.80m, 1990 / 2014, asking EUR 14,750,000
• MARY A – 47.10m, 2001 / 2013 asking USD 18,400,000
• MOONSAND – 44.20m, 2015, asking EUR 32,800,000
• DOJO – 45.72m, 1981 / 2018, asking EUR 10,000,000
Of the other Feadships on the market – and those of particular note – I would suggest:
• ANNA I – 67.00m, 2007, asking EUR 59,000,000**
• PARAFFIN – 60.10m, 2001 / 2010, asking EUR 28,500,000**
• MINDERELLA – 58.82m, 1986 / 2016, asking USD 16,900,000
• PRINCESS TOO – 47.55m, 1999 / 2017, asking EUR 14,000,000
• LADY MAY – 46.22m, 2014,
asking EUR 24,900,000**
• TUGATSU – 45.20m, 1989 / 2012 asking USD7,900,000**
• LA MASCARADE – 30.00m, 1997 / 2014, asking EUR 3,950,000**
As ever, there are some off market opportunities in both the Feadship market and the wider market, details of which are available on request.
*01/08/19
**denotes recent price reduction.
- By Henry Smith, Sales Broker at Cecil Wright & Partners
