2011 Superyacht Market Report

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2011 in numbers

108		231		221		471		650		263
New orders		Launches		Deliveries		New for sale		Price updates		Yachts sold

In 2011, clients tentatively reacquainted themselves with the superyacht industry. A dearth of customers in the preceding three years had withered prices, left shipyards empty and flooded the marketplace with the yachts of nervous owners. The landscape that buyers have stepped back into has changed – and it offers them a much better footing.

If you’re a buyer it was a good market

Price updates

650 price updates in 2011, compared to 441 in 2010 and 231 in 2009. Last year’s reductions ranged from 1 per cent to a massive 80 per cent in one case, the average being 13 per cent. Fifty yachts had reductions of 25 per cent or more. Prices have been slashed in all size brackets and many owners have found them difficult to accept.

80% the largest price reduction we recorded in 2011 (the average was 13%)

Prices are low but stable

The good news for the market in general – although scant comfort for sellers – is that brokers seems to agree that in general values have fallen back to earth, rather than through the floor. 

Yacht sizes

Eight yachts of more than 70 metres sold in 2011, seven in 2010 and six in 2009.

€2.6 billion total asking prices of yachts sold in 2011

Existing yachts in the 30-40 metre bracket have been leaving the market faster than those in any other category. A hundred were sold in 2011, roughly 40 per cent of the total sales tally for the year.

155 yachts between 24 and 30 metres came on the market in 2011 (80 were sold)

Where does that leave the 24-30 metre market? In terms of sheer sales numbers, it appears in a good state. In 2011, 80 were sold, in 2010, 66, and 2009, 57.

Yacht types

There are problems in go-fast boats.

In 2011 buyers have been more interested in explorer yachts, which fit more with the current mood that eschews ostentatious wealth. 

Seasonality

There has always been a seasonality to yacht sales, but 2011’s figures showed a May high significantly above the previous two years, and a December dip lower than the previous two years. Brokers felt the trends were in large part seasonal, but influenced by the mood of 2011.

New orders

Tracking new orders is notoriously difficult, but we recorded 108 for yachts of 24m and above in 2011, in comparison with 112 in 2010. The number of boats on the market in general is likely to have kept orders modest, and with small profit margins, yards can reduce prices much less than sellers of existing yachts.

53 yards received new orders for superyachts in 2011 (we recorded 108 new orders in total)

Looking to buy, sell, custom build a yacht? Any make, any model, any market.

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Contact:
Vladimir Nedic - YachtsForSaleAndBrokerage
954.618.8928 yachtsforsaleandbrokerage@gmail.com