From the 1 November, 2019 until the time of writing* there has been 546 yacht sales over 24m worldwide with a total value of over EUR 3.35 billion / USD 4 billion totalling 17.9km / 11.12 miles in length. Given the global events that have turned the planet on its head, one would expect there to have been a reduction in the number of sales given the uncertainty and restrictions on movement.
There have, in fact, been 29 more sales than in the Nov 2018 – Nov 2019 period, and I anticipate this will further increase given we are only halfway through November 2020. There is a flurry of activity in the market at the moment; the team at Cecil Wright are due to close two deals before the end of the month.
Looking back from March to May this year, there was a huge slump in sales – approximately a 50 per cent drop compared to figures in 2018 and 2019. There is no doubt that what appears to be a recovery of the market is, in part, the sales that should have taken place earlier in the lag period. That said, we have seen and are continuing to see clients who would traditionally charter decide instead to move into ownership. This is largely down to how they adjust their yacht usage plans around the potential of a repeat of 2020’s restrictions.
The most significant sales to take place in the past 12 months include the 111.5m Lürssen TIS (2019 / 2020) asking EUR 275,000,000, the 83.0m Amels HERE COMES THE SUN (2017) asking EUR 155,000,000 and the 74.0m CRN ODYSSEY II (ex CLOUD 9, 2017) asking EUR 84,000,000. The latter has been sold for the third time since her 2017 launch.
Entering onto the market we have a number of interesting options; the 107.6m Benetti LUMINOSITY (2020) asking EUR 225,000,000, is the largest of the new inventory and coming in at 5,844 gross tons she is more than double the tonnage of the 85.0m Lürssen ACE (2012 / 2019) which comes in at 2,850 gross tons and is asking EUR 119,000,000. Also of particular note are the 68.2m Abeking & Rasmussen SOARING (2020) and the stunning 67.2m Alloy sailing yacht VERTIGO (2011 / 2019) asking EUR 45,000,000.
FEADSHIP MARKET
In the 12-month period since November 2019, there have been 16 yachts lost from the Feadship Market, of which eight are sales and the other eight withdrawn. The most significant sales were 73.0m HASNA (2017) asking EUR 92,500,000; 62.0m NEW HAMPSHIRE (2005 / 2017) asking EUR 38,950,000; 50.3m BROADWATER (2000 / 2017) asking USD 22,900,000 and 34.6m LETANI (2017) asking EUR 21,000,000.
Cecil Wright & Partners were responsible for the sale of the stunning NEW HAMPSHIRE. Having acted on the buy side when we acquired her as POSITIVE CARRY in 2016, she underwent a comprehensive refit at Pendennis that really took her to the next level. We are delighted with the sale and look forward to the next.
Other sales of note were:
MINDERELLA – 58.8m (1986 / 2016) asking USD 14,900,000
TUGATSU – 45.2m (1989 / 2012) asking EUR 5,900,000
AVANTE V – 36.6m (1974 / 2018) asking USD 4,950,000
During this period there have been 11 additions to the Feadship market; standout yachts include the 62.3m FLAG (2000 / 2012) asking USD 46,000,000. She has a great charter reputation and neatly fills the hole in the market that the sale of NEW HAMPSHIRE has created. The 61.9m SEA OWL (2013) asking EUR 89,000,000 has arguably one of the most intricate interiors of any Feadship I have seen. Beautifully designed by Winch Design she is also of a very high technical specification and her seven-cabin layout gives great versatility. Another interesting addition is the 42.6m FULL MOON (2003 / 2017) asking USD 15,900,000. She was launched as ANGIAMO and was the first Feadship Explorer; fast forward to 2018 and the most recent was the Cecil Wright & Partners new-build project SHERPA (73.6m).
Other additions of note are:
SEA HUNTRESS – 55.0m (1997 / 2013) asking EUR 22,750,000 SUSSURRO – 49.5m (1998) asking EUR 18,000,000
EXCELLENCE – 46.6m (2001 / 2019) asking USD 16,900,000
Of the other Feadships on the market of particular note are:
PARAFFIN – 60.1m (2001 / 2010) asking EUR 28,500,000
CYNTHIA – 55.5m (2005 / 2018) asking USD 25,900,000
BLU 470 – 49.8m (1990 / 2014) asking EUR 14,000,000
LADY MAY – 46.2m (2014) asking USD 27,900,000
DOJO – 45.7m (1981 / 2018) asking EUR 10,000,000
SPACE – 44.6m (2007 / 2018) asking EUR 22,500,000
MOON SAND – 44.2m (2015) asking EUR 27,950,000.
If looked at in more detail, there are areas of the Feadship market that I would suggest are moving towards a sellers’ market. As an example, CYNTHIA is the only 50.0m – 60.0m Feadship launched post 2000 on the market today and I don’t anticipate she will be available for much longer.
As ever, there are some off market opportunities in both the Feadship market and the wider market, for which details are available
on request.
*Written 18th November 2020
Henry Smith
For more information, contact Henry Smith on:
henry@cecilwright.com
or call +33 6 40 62 01 51
