The boat show and event season for yacht sales is upon us, with the Palma Superyacht Village and International Boat Show, the Mandelieu Boat Show and the British Motor Yacht Show just completed. Don’t forget these other events upcoming – the Solaris Cup and Bluewater event with World Cruising here at our Lymington HQ. These events as well as our normal work within the market place give us an accurate feel of how the market is moving at the moment –
The availability of yachts on the brokerage market is still constrained. This encourages listing at prices which are over the current market. Yachts coming onto the brokerage market at prices which are too high for the market are not moving. The yacht market is a fluid one that reacts quickly and the COVID bounce is over.
In valuing yachts today it is key to have a good knowledge of the whole market and to compare not just against other sisterships of the same class but to look at their competition and the whole market segment. If just the class is assessed, there is a risk that all yachts of that class are overpriced and are not attractive in the market.
The market is moving after a slower start at the beginning of the year and there are good levels of activity.
Whereas during the COVID period, it was definitely a Sellers’ market, this has now changed and the market has returned its normal equilibrium.
Buyers in many cases are what we term lazy – they are interested but in no hurry to buy unless they perceive yacht prices to be value in the current market. They are content to wait until yacht prices meet their expectation. It is the brokers’ task to accurate assess and communicate this.