Market Intelligence 2013
At Camper & Nicholsons, the year has got off to a positive start with enquiries coming in a lot earlier than expected.
This year we were dealing with a large number of offers and potential deals in January, which hopefully signals a successful spring. From a forecasting point of view, however, it is nigh on impossible to work out which periods will be more productive in terms of sales. Could 2013 be the year for a gradual but significant upturn in the market overall? Only time will tell.
The market in 2013 continues to welcome excellent vessels for sale almost daily, and remains oversupplied. Buyers and sellers are finding more common ground and are more readily able to agree sales prices than has been the case over the last few years. Our advice to sellers is that if they want their boat to sell they have to price it competitively. A seller who selects a broker based on the promise of the highest price will not, in most cases, achieve a sale. Instead, their yacht will remain on the market for several years, costing them money and impacting on the yacht’s reputation as the price is forced down until it sells. When correctly priced, yachts are selling and it is down to the broker to advise wisely in the first instance.
Camper & Nicholsons brokers are fully aware of the market conditions and are realistic in their estimation of what sales price their clients’ yachts can achieve. For the large part, buyers have stopped talking about distress deals and bank repossessions; they are now looking for more sincere value-driven deals and assurance that the yacht they are buying has been well maintained.
It also seems that buyers are tired of waiting for the economy to stabilise. Many are deciding to take the plunge and buy if the seller has priced their yacht sensibly. The US appears to be primarily interested in smaller yachts at the 24-30m (78-100’) range and the market there has seen an increase in sales. In Europe brokers are reporting interest in the 30-40m (100-131’) size range, and this bodes well for the forthcoming spring sales season.