Overall, 2022 was again a very good year at Berthon Spain Sales. Sales volume and value was a little lower than 2021 for Simon, but that was to be expected after the “Covid boom”. Nevertheless, whilst the total value of yacht sales was similar to 2021, the total commission income was about 20% lower as we collaborated with other Berthon offices or third party brokers, but overall sales were solid, with a good number of direct sales where we handled both sides.
Early in 2022 a couple of deals completed that were in the works, but as usual the market really came to life in the spring. Particularly good sales to be involved with were a Southern Wind 100’ and a Gunfleet 58’, both with busy programmes in their new ownerships.
Despite a changing world with the war in Ukraine and other worldwide events, the market remained positive through the summer with sales including an Oyster 82, a nearly new Advanced 66, and 3 Nautor Swan yachts, together with a Nauticat 515. The unusual thing about 2022 was that so many sales completed in mid to late summer, rather than earlier in the year as is more usual. I put that down to post- Covid lethargy.
The final sale of 2022 for Simon stood out as it was a motor yacht – but a rather special one – the Royal Huisman 65’ HUSH that has been associated with Berthon ever since her build decades ago.
On the motor yacht side of the market, Ben saw an increase in buyer expectation on discounts, with some aggressive offers, particularly on smaller yachts. Overall, sellers have been reluctant to accept aggressive offers and haven´t been too keen on price reductions, preferring to wait for the time being.
2022 closed with high drama playing out in elections in several countries, and with the economic situation worldwide affected by Russia’s war on Ukraine. This brought with it increased living costs and rising inflation, so we were all expecting the yacht market to change for the worse.
2023 started well for Simon with the sale of the lovely Kanter 80’ aluminium ketch FRUITION to Canadian owners who live close to the yard where she was built in 2001! We also have several very good “mid-range” yachts newly listed, including two Oyster 655s from 2008 and 2009, a Discovery 58’ from 2018, as well as a Najad 505 from 2008.
Ben has also been super busy so far in 2023, preparing for the Düsseldorf Boat show with Marex Boats who we represent in the Balearics and Pearl Yachts. The Show was busy with lots of clients new and old and it was good to be back at Düsseldorf after a two-year break. The show was extra special as the Marex 330 Scandinavia received the 2023 Motor Boat of the Year Award, and Pearl Yachts received the Judges´ Special Award.
From a wider perspective, we have noticed that whilst new brokerage yachts are coming to the market, there are not as many as we expected. In many sectors of the market there is a shortage of product and very limited availability of new quality yachts, which is combined with substantial price increases. There is clearly a scarcity of larger motor yachts between 20- 25m on the market at the moment.
Another issue with which we are confronted, is the lack of berthing in Palma and the high prices in local ports, which means that a number of the Berthon Spain fleet have chosen to relocate to the mainland in Valencia or Barcelona where prices are lower. However, Mallorca has some lovely ports outside the bay of Palma like Alcudia for example, which offers a very attractive option with lower prices, excellent accessibility from the Palma airport, newly renovated infrastructures, services and a stunning location in the North of the island. We are always happy to advise owners and crew on the best location for their yachts and organize a berth for them thanks to our contacts in ports all over the island.
Next on the Mallorca agenda is the Palma Boat Show at the end of April 2023, where we will have a selection of Marex boats available for viewing. Do come and see us on the Marex stand. The Show is also home to the Palma Super Yacht Village and we will be showing some high quality sailing yachts over 24m including, a Swan 112, an 82’ Hoek and a Jongert 2700m.
2023 will be a year of changes and improvements in Palma, with exciting new projects taking place right outside our office window. The iconic Club de Mar is a vast construction site at the moment, as the builders carry out the largest privately funded nautical construction in the whole of Spain. The old buildings have been demolished to make way for a totally new remodelled club house, whilst the quays are being renovated and a new super yacht dock is being built for the larger superyachts. We are told to expect it to be complete by 2023 – we will see – there is a lot to do!
The ‘Paseo Maritimo’ – the long stretch of road that goes along the waterfront of Palma Bay – is being completely re-modelled to allow for more space for pedestrians, bikes, green spaces, and to better integrate the port within the city. The works will take place throughout 2023 with completion planned for 2024.
The surrounding landscape isn´t the only thing that changes for us in 2023, as we are remodelling the office with functional, smart new furniture and Berthon branded artwork. This will make our waterfront office a welcoming place for meetings with clients and we look forward to showing it to you.
The end of 2022 saw the arrival of a new member in the Berthon Spain Sales Team. With 10 years experience working on sailing yachts and a background in communication and languages, Nathalie joined the team as brokerage and administration support. As well as assisting Ben and Simon with all the tasks brokers don´t have time to do themselves, she is also the link between the Spain sales office, UK HQ and the service team at Berthon Spain. Fluent in English, Spanish, French and German, we are delighted to welcome her aboard the Berthon bus.
We are excited about all the changes and new opportunities that 2023 will bring, and we believe that despite the odds, the Mallorca sunshine and turquoise Mediterranean waters will mean that yachts will continue to sell and our clients will continue to enjoy the incredible Balearics.