Brokerage Five Year High

2013 ended on a positive note with more yachts sold globally in the final quarter than in any other quarter over the previous five years.

With a total of 351 sales transactions completed, 2013 delivered a growth factor of 23% in terms of number of sales over the previous year. However, this represented a wide cross-section of sizes from 24m up to the largest vessel sold at over 77m which was a Burgess sale.

In the 40m plus size category, the year-on-year change is the most significant:

> 40-50m: 30% more sales
> 50-60m: 20% more sales
> 60-70m: 73% more sales
≥ 70m: no change

In real terms, the 40-70m brokerage market is in good health, supported by the diminishing inventory of good quality yachts due to more yachts being sold than are coming to market – a welcome trend finally emerging in the second half of 2013.

Timing is certainly key and over the last three years, second and fourth quarter results have shown by far the most activity. With this trend set to continue, there is a clear incentive for buyers to secure the best deals prior to the arrival of the high season, whether in the Mediterranean or the Caribbean.

Pricing stability has also been apparent in the larger sector of the market. Asking prices dropped an average 11% year-on-year across the board as a whole in yachts over 24m last year, whereas in the 40m+ category, price reductions slowed to only 2% in 2013.

With regards to the 70m plus market, this has been a constant over the last five years, with an average of seven yachts sold year-on-year. This sector of the market stands alone, with buyers and sellers moving when the time (and price) suits all parties. A generalisation in asking price trends is also far harder at this level. In spite of definite downward price pressure in this overall category, size variables can signify a difference of as much as Euros100million and with so few yachts being sold comparatively, the effect on averages is pronounced.

For buyers, our advice is to get on with it. Whilst we don't see significant upsurges in prices over the coming year we do see erosion in the number of quality yachts available to purchase. Burgess brokers have their fingers on the pulse of market activity and an early dialogue will ensure they can act fast on your behalf, when suitable yachts come to market.

For sellers, equally the time is ripe to engage your broker and make your thoughts known, be it to select a Central Agent to represent your yacht or to review your marketing strategy for the coming months.

We have highlighted some golden opportunities in both price reduction and new build opportunities articles, so there is still time to seal a deal on some first-class vessels before the Mediterranean season kicks off. The new builds alone are being offered by two very well respected brands in Italy and The Netherlands, with the delivery of both yachts scheduled for summer 2014.

Contact our team at any one of our global offices: LondonMonacoNew YorkMiamiAll Offices

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