Selling your yacht?

For many owners, deciding exactly when to put their superyacht on the market is a tough call. Is the market on the up for sellers? What’s a current reasonable price? How long might it take to sell? 

Well, the good news for anyone considering selling their yacht, whether to move on to a new build project or to buy a pre-owned vessel themselves, is that Burgess has seen a marked improvement for brokerage sales in 2014.

Our sales statistics are pointing to a positive outlook: over the last 12 months deals have increased year-on-year, and the number of yachts for sale has diminished by up to 22% in some market segments. To date, Burgess has sold 38 superyachts in 2014, recording 23 sales in the first half of the year alone. The second quarter of 2014 was particularly positive, with the highest activity we have seen since the 2008 global financial crisis. 

38 superyacht sales in 2014almost 2km of yachts sold in 2014

Sales have been up across the board, both in smaller categories and the largest superyachts. The 40-50m and 50-65m market sectors virtually doubled in Q2 of 2014, compared with the previous year. In the last 12 months, Burgess has sold over US$1.6 billion worth of superyachts, and a third of all the 50m+ yachts on the market. The three most significant large yachts sold were the 90m gentleman’s yacht NERO, the 86m Feadship ECSTASEA and the 85.6m American-built CAKEWALK, all represented for sale by Burgess. 

It’s important that a brokerage house advises its clients fairly on the right price for their vessel, and this usually involves addressing the owner’s personal, and often emotional, expectations. At Burgess, we pride ourselves on meeting price expectations and selling in the shortest time possible, which is perhaps one reason why our sales team has outperformed the competition. 

As the global sales inventory reduces, sensibly priced, good quality yachts for sale on the pre-owned market are being snapped up. At this autumn’s yacht shows, we represented a fleet valued in excess of US$1 billion, including 21 yachts (of which 13 were over 50m) at the Monaco Yacht Show alone. 

With demand for pre-owned superyachts steadily increasing and projected deliveries from pedigree shipyards stretching beyond 2018, owners can be assured that now is a great time to put their yacht on the market. Especially if they want to capitalise on the market trend for more sales taking place in the first half of the year. 

The global team of Burgess brokers is on hand to provide accurate valuations and wider market analysis. Whereas most brokers work independently of each other under a corporate banner, our proactive, team-focussed approach to selling your yacht puts Burgess in a unique position in the brokerage world. If you are considering selling your yacht, speak to the experts; Burgess has been leading the market for the last 40 years.  

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