August 26 2014
'We're over the hump.' 'We've turned a corner.' 'We're back in business.' The numbers from the first half of this year back-up the words of so many brokers - the superyacht market has returned to health. A tally of 221 yachts over 24 meters have been sold in the first half of 2014, 51 more than the same period last year, and the highest half-year figure for five years. The April-May-June run of 45-50-46 was the best since our records began in 2009 and numbers have grown in all size brackets - although the biggest increase was in 30-40 metres, up 23.
Price has been a key feature of the first half sales tally - although the part it has played is complex. The average size of yacht sold over the four years has stayed around 35 to 36 metres, but the average asking price has dropped by about a million euros every year - until this year, when it has stabilized at about the same level as 2013.
Superyacht supply has not kept up with increased demand this year. In fact, 13 fewer yachts came to the brokerage market in H1 than in the first half of last year. 'All the low-hanging fruit has been picked, 'and the inventory, as far as larger late-model pedigree yachts, has definitely gone down.'
by Caroline White