Significant growth, in superyacht business but less than expected

Hopefully, the strong start to 2011 for the superyacht business is an indicator of good things to come for the rest of the year. Hein Velema 
CEO at Fraser Yachts suggests, “Perhaps we could even drop the term “cautiously optimistic” and just reduce it to “optimistic”.

Fraser Yachts have sold on average one superyacht (over 24m) per week in the year to date.

“If that carries on at a steady rate,” says Velma “Then things on a global level will definitely be looking up by the year end.

The world of superyachts moves fast and industry players need to have fingers on the pulse in order to spot the good opportunities before they pass you by.

Fraser Yachts believes that over the course of 2010 the luxury yacht market experienced a 30% increase in sales over the total figure from 2009, with a value in excess of €2.5 billion.

There was a steady and significant increase both in the number and value of yachts sold, however the growth was not as significant as many industry commentators had anticipated.

It was also interesting to observe an increase in demand for new construction projects.

Frasers are optimistic based on results for January and February 2011 that the brokerage market has hit bottom and that 2011 will be a year of consolidation. Last year the average asking price across all yachts over 24m on the worldwide market was €13,400,000