2023’s sales figures aren’t going to be quite as rosy as the previous two years.Contrary to what might seem obvious factors, such as the global financial markets or the conflict in Ukraine, it will be caused by a lack of inventory.
2021 saw every record for yacht sales and charter get smashed globally. The huge post-pandemic demand which began in mid-2020, whilst seemingly slowing down through 2022, shows little sign of relenting. Demand for pedigree yachts in particular, the area in which the Cecil Wright team specialises, is seeing more enquiry activity than ever.
Sensibly priced yachts in good order are changing hands in near record time, with listings only being available for a number of days before going under contract. Some of these high-speed sales include the 92.42m Blohm & Voss PALLADIUM (2010) asking EUR 140 million (154 days on market), the 72.10m VSY STELLA MARIS (2012 / 2018) asking EUR 75 million (78 days on market) and the 72.00m Delta Marine ALBATROSS (2016) asking USD 95 million (70 days on market).
Time on the market is something we keep a close eye on. Not only is it an indicator of the tempo of the market, but it also allows us to quickly identify yachts that are overpriced or perhaps aren’t in the condition reflected by their asking price.
Aside from the three aforementioned, there have been some significant sales in the last 12 months. The largest by some way was the 123.20m Lürssen GOLDEN ODYSSEY (2015) which sold under fairly unusual circumstances. Following this are the 97.20m Lürssen CARINTHIA VII (2002 / 2022) asking EUR 98.5 million and the 92.42m Nobiskrug TATOOSH (2000 / 2017) asking EUR 90 million.
FEADSHIP NEWS
In the past 12 months, 12 Feadships have been sold. The most notable of these were the 55.50m BROADWATER (1994 / 2020) asking EUR 29.5 million, the 55.00m SAMAX (1996) asking EUR 17.8 million and the 51.20m GALLANT LADY (2007 / 2020) asking USD 25 million. The fastest turnaround from listing to sale was once again achieved by Cecil Wright with the sale of the stunningly rebuilt 42.06m ISTROS (1954 / 2020) asking EUR 19.95 million, which we sold after just 53 days from listing. Our record still stands for the sale of the 49.00m Feadship HERCULINA (1998 / 2021) which we sold 44 days from listing in 2021.
Apart from the 46.70m DAYBREAK (1997 / 2018) asking USD 9.9 million, time on market for the 40m+ Feadships has once again proven to be notably less than other yards, with an average time on market of 213 days.
Aside from the four above-mentioned yachts, the other significant sales are:
– ILLUSION I – 55.50m (1983 / 2021), asking EUR 9,800,000– HERCULES – 49.00m (1998 / 2021), asking USD 19,900,000– GITANA – 48.20m (1997 / 2022), asking USD 14,450,000
Of the 38 Feadship yachts for sale currently, 23 have come onto the market in the last 12 months, including some familiar faces.
The largest to enter the market is the 75.75m EBONY SHINE (2009 / 2016) asking EUR 100 million. Buyers beware, however, as the situation of the sale is not simple, and clarification is required to ensure a clean transaction. The 68.77m DRIZZLE (2012 / 2019) asking EUR 69 million is, without doubt, one of the finest examples of not only what Feadship build but also how a yacht can present immaculately if looked after by a good crew with a sensible budget. There is a deal to be done here.
Launched in 2015 (refit 2022) the youngest Feadship on the market is the 46.40m KISS asking EUR 29.5 million. Located in Monaco, she is very much in the shop window and her owner, having taken delivery of their new yacht, is keen to pass her on to a new custodian. Within the same size bracket, there is one Feadship in particular which stands out in terms of condition: the 41.55m LADY CHARLOTTE (2003 / 2020) is asking EUR 16.95 million and is deserving of this asking price. Four generous staterooms accommodate up to 10 guests in what I can only describe as a pristine yacht.
Last but by no means least is the unique 30.00m LA MASCARADE(1997 / 2022) asking GBP 3.95 million (VAT PAID). A completeone-off in terms of what Feadship build, she has just passed her 10-year survey following a refit at Pendennis and is ready to go for a new owner.
Other phenomenal Feadships for sale are:
– FLAG – 62.30m (2000 / 2022), asking USD 46,000,000– SEA OWL – 62.00m (2013), asking EUR 90,000,000– ROCK.IT – 60.35m (2014 / 2019), asking EUR 55,000,000– AMARA – 58.82m (1986 / 2021), asking EUR 17,900,000– DOJO – 45.72m (1981 / 2018), asking EUR 8,900,000– BLUE SKY – 44.65m (2012), asking EUR 22,800,000
As ever there are some off-market opportunities in both the Feadship market and the wider market, particulars of which are available on request together with details of in-build projects for sale both openly and on the closed market.
Henry Smith
For more information, contact Henry Smith on:
henry@cecilwright.com
or call +33 6 40 62 01 51
