While looking back over the last twelve months Hein Velema
CEO of Fraser Yachts has used a phrase that has been used time and time again throughout the course of 2010.
He is he says still “cautiously optimistic” words he used last year but now he says, “That prediction has certainly been borne out in the luxury yacht industry. The static market in 2009 was a difficult period for pretty much everyone connected to the large yacht market.
Buyers, sellers, builders, owners, Captains and service providers all suffered from the lack of activity in the market. 2010 saw a slow but marked improvement.
The last 12 months has seen a notable rise in brokerage sales compared to 2009. Velma says, “This has been a good year for the brokerage market following a dismal period through ’08 and ’09 where the second-hand market for yachts over 30m literally ground to a halt. Latterly, the brokerage market has mainly been active in Europe, Russia and the Middle East while the US market has stayed slow.”
Superyacht sales figures are generally still as low as they were one year ago and there is no expectation of any significant global price recovery before the American market recovers. Buyers in the USA seem to be waiting to see the consequences of the new balance in political power. The early indications are that in spring 2011 prices might well start to head up again.
