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Market intelligence - 2014 so far....

30th Jul 2014

As we are half through 2014, C&NI contemplates this year's market figures and discusses brokerage activity over the past six months.

Figures for 2014's Q1 and Q2 show that the market continues to perform strongly. In fact, the total value of the brokerage market for Q1 and Q2 was in excess of 1.6 billion USD and approximately 258 yachts were sold, showing a 25% increase in sales compared to the same period last year.

As of the 1st July this year, 1946 yachts over 24m (79') were recorded on the market. Out of that 1946, 152 yachts are over 50m (164'), 279 are between 40m (131') - 50m (164'), 736 are between 30m (98') - 40m (131'), and 779 are between 24m (79') - 30m (98'). Figures also highlight that motor yachts continue to dominate the market, with sailing yachts accounting for 15% of the market and 9% of the yacht sales so far this year.

When comparing the ranges and sales of yachts priced in USD against those priced in Euros for Q1 and Q2, figures on the whole show average asking prices are more competitive than the same period last year. In the 24-30m sector, the average asking price since January this year was USD$2.8 million, whereas in Euros it was €2.0 million. Mid-size yachts of 30m (98') - 40m (131') show the same slight difference with USD$5.2 million compared to €5 million and the 50m (164') + market show an average asking price of USD 30.24m and this is EUR 30.75m.  Sailing yachts, however, show a slightly different story as the average asking price when sold for sailing yachts 30m (98') - 40m (131') is USD 4.6m and for the yachts priced in EUR is 7.25m.

Shorter recorded selling times also imply that buyers are moving much more quickly than previously and aren't afraid to commit to a sale if it is competively priced. However, there are also signs in some sectors that the best deals are gone, or are going, and therefore better value is returning for sellers. Statistics also demonstrate that the European market is beginning to catch up with what was an already very active US market, especially as Asian buyers are tending to go direct to Europe to purchase.

With such an active and competitive market, there is no denying the outlook for second half of 2014 remains very positive and strong.

 

 

by Camper Nicholsons

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On the whole, average asking prices for Q1 and Q2 have been more competitive and, as a result, 2014 has generally been considered a buyers’ market.