In May of this year twice as many superyacht sales were achieved during the same period as last year.
“With prices remaining competitive, it is little wonder buyers are cashing in on these increasingly alluring deals, says Michael Payne CEO of Camper & Nicholsons.
During the month of May a reported 55 yachts were sold; this represents a 53% increase on last May’s figures, when only 29 yachts were sold.
Of the 55 yachts sold during May 2014, 52 were motor yachts, and 3 were sailing yachts.
The total length of motor yachts sold during May was 1836m, 903m more than the same time last year, when the total length of superyachts sold during May reached 933m. The total length of sailing yachts sold is also up 8m on last year’s figures, with 103m being sold during May.
The average asking prices of the yachts sold since the beginning of the year generally remains on an even keel. In the 24-30m (79’-98’) motor yacht sector, the average asking price is currently at US$3 million, while in Euros it is €2.1 million. Mid-size yachts of 30-40m (98’-131’) currently have an average asking price of US$5.5 million compared with the Euro asking price of €5 million
For larger yachts in the 50m+ (167’) sector, the average asking price has actually increased to US$25.6 and €32.2 million, respectively.
Inspecting this May’s figures further and looking at the average age of fleet sold, Payne suggests that for motor yachts
- 6% were three years or under
- 21% were four – six years old
- 29% were seven – 10 years
- 44% were 10 years and over
For sailing yachts
- 5% were three years and under
- 16 % were four – six years
- 16% seven – 10 years
- 63% 10 years and over
Payne said, “These figures demonstrate that buyers are not over looking well maintained, older yachts and it is still condition, quality and competitive asking prices that ultimately prevail.”