MARKET / MEET THE TEAM

FACTS AND FIGURES

THE MARKET

Even in an extremely buoyant market, the flight to pedigree has once again been the notable trend in terms of large yacht sales, both for motor and sailing yachts.

The rate that pedigree yachts are being sold is not being met by the replacement rate for yachts coming onto the market for sale – by definition this demonstrates the move towards a seller’s market.

We are seeing the closing prices getting closer and closer to the asking prices and the time on market is reducing significantly. We are also seeing an increase in the number of off market deals which again is indicative of a seller’s market. The pedigree sailing yacht market is seeing some of the strongest movement at the moment, with values for certain yachts actually going up as the yard demand is driving up replacement cost. This is in part due to the disappearance of some of the top yards in the 2008 global economic crisis.

60

60 yachts over 100m in global fleet.

126.2

126.2m – Largest sale in the last 12 months – OCTOPUS, 2003 Lurssen.

741

741 yachts sold in last 12 months over 24m.

23

23 yachts over 100m in build.

21

In the last year there have been 21 sailing yacht sales over 35m and only 10 new additions to the market.

FEADSHIP FACTS

7

7 Feadship deliveries this year with 2 more to come. 62

72.87

72.87m average Feadship build size for 2021.

45

45 days – quickest time from listing to sale of a Feadship in the last 12 months. 62m – Largest Feadship sale in the last 12 months. NEW HAMPSHIRE – sold by CWP.

17

17 Feadship sales in the last 12 months and 8 additions to the market.

In December 2019, the CWP team welcomed Vanessa Buck as a CA Charter Manager, joining Liz Cox in caring for the six central agencies that Cecil Wright & Partners houses. When the pandemic struck, she faced one of the most challenging years she’s ever seen in yachting; but to Vanessa, the challenge meant motivation, mutual support and a richly rewarding professional experience.

IZZIE PRICE

Vanessa Buck and yachts seem to be inextricably linked. Having been raised in both French-speaking Africa and Italy, she speaks both languages — which she describes as “useful when dealing with brokers and Captains who prefer communicating in their own language”. Her husband is a Captain, and she laughingly describes their children being “bored to tears!” when she and her husband talk about all things boats, as well as noting the importance of seeing things from the crew’s side.

Her yachting career spans more than 16 years; prior to working at Cecil Wright & Partners, she worked in the same role at a large brokerage house. The job move was a change; but an overwhelmingly positive one. “The dynamics are so different; we all get involved in everything, we all help each other out,” she says of the Cecil Wright & Partners working environment. “You get given the power to go and express yourself; it’s just fabulous. It’s so motivating.”

The pandemic hasn’t been easy, and she’s frank about the challenges it’s posed. But she also movingly describes the support within the Cecil Wright & Partners team, where it seems a problem shared truly is a problem halved. “We’ve all supported each other. Whether it’s the sales department helping with charter, or charter getting involved with sales; it really feels like we’ve all got each other’s backs.”