Burgess Quarterly Sales Market Report (Q3 2013)

Market movement
The third quarter of 2013 has seen a reasonable amount of movement in the large yacht market. There have been 35 new yachts to market, 47 price reductions and 23 yachts sold.

There is a marked difference in the volume of activity between Q3 2012 and 2013, especially in the lower size ranges. Encouragingly, the total number of yachts sold this year is up by 14 on Q3 2012.

This quarter has seen an encouraging number of sales in the 50-65m sector of the market with 5 yachts sold. The larger size ranges have also been very active with 4 yachts over 70m selling. Where yachts have sold, it has been a case of sellers coming to meet the market. There has been, on average across the sales fleet, a 24% reduction from the final asking price in order to achieve a sale.

Motor yacht price reductions
The third quarter has followed a similar pattern to the first two quarters this year with all sectors of the market having reasonable price reduction activity.

By far the busiest size sector was the 50-65m with 33% of the sales fleet reduced in price. This is double the number of the next busiest sector, the 40-50m range, 14% of which were reduced in price. Throughout the 40m+ sales fleet, the average price reduction was 18%.

In general, there has been a steady return of buyers to the market and there is a relatively healthy level of turnover of brokerage boats. The new build sector is still fairly quiet outside of the established European shipyards. This coupled with the relatively large amount of inventory on the brokerage market is combining to keep prices across all sectors reasonably soft.

Sailing yachts
This year’s Monaco Yacht Show seemingly has brought a renewed vitality to the large sailing yacht market. Following the show, a number of yachts are now under contract and there is a real feeling of a corner having been turned. Not only is there a steady return of buyers, but also the passionate sellers are becoming more willing to meet the market in their price expectations. With these factors combined, the outlook for the final quarter of 2013 and onward into 2014 looks positive indeed.


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