Megayacht anyone? Come on in, the discounts are tempting

It’s tough being a luxury  yacht owner in need of cash these days. Some high net worth individuals have been forced to accept discounts of up to 25% when selling their 24m-plus boats…but there is a silver lining.

Last month the Palma-based broker selling 32m motor yacht Trilogy, reduced its asking price by a quarter from €1.2m to €895,000.

Brokers of the 36m superyacht Necklace II reduced its price by a further €600,000 on top of a previous price reduction of €550,000, taking the price down 12% from €8.75m to an asking price of €8.15m.

In May, 82m motor yacht Alfa Nero had its price cut by €10.75m. In March the 67m superyacht Apoise was sold to a UK bidder for $46m at an unreserved auction, going for almost half of its estimated worth before refit. When delivered in 2006, Apoise was estimated to be worth $90m.

But the superyacht seascape has brightened considerably, according to luxury and lifestyle publication Superyachts.com. Sales this year have hit 15 compared with four in 2009 and six megayachts, those over 70m long, have changed hands compared with last year’s four.

Ben Roberts at Superyachts.com said: “As the economic downturn of the last 18 months took hold, the brokerage industry faced decline. Prices of second-hand yachts became more accessible, leaving the new build market to stagnate. However, as more unclaimed yachts head for the brokerage sector, the case for striking a good deal now has never been stronger.”

He said: “Some of the world’s largest yachts have been sold this year and with a fleet of highly anticipated superyachts currently in construction, the market for high-end superyachts is not only growing, but producing a market where bigger is better.”

Here Financial News takes a look at some of the most successful sales of 2010, according to Superyachts.com. Although brokers provided the asking price, unsurprisingly they were more coy on the sale price.

1. Superyacht Moonlight II
Asking Price: €85m
Length: 85m

Sold in early June by joint central agents Edmiston & Company and Burgess and Peter Insull Yacht Marketing , Moonlight II was constructed in 2005 by Greek shipyard Neorion Shipyards Syros with styling from Alpha Marine and Lally Poulias.

Available for charter with Edmiston & Company, Moonlight II is the second largest sale of the year – ranked at number 52 in the Top 100 World’s Largest Superyachts.

2. Superyacht Lauren L
Asking Price: €65m
Length: 90m

This unique sea-faring giant was built in 2002 by Cassens-Werft and has been heralded as the sale of the year so far. Lauren L was originally launched as a 100-passenger cruise vessel which then underwent a refit in 2008 to what is now a remarkable luxury yacht.

The sale was conducted in July by brokerage agents Edmiston & Company. Edmiston Broker Rory Trahair said: “Lauren L is the latest in a long line of Edmiston sales this year which includes the 85m Alysia and 72m Utopia and takes our sales to date this year to well over 1km in total length.”

Ranked at number 34 in Superyachts.com’s Top 100 World’s Largest Superyachts roster, Lauren L can accommodate 40 guests and is available for Charter through Edmiston & Company.

3. Superyacht Natita
Asking Price: €59.9m
Length: 66m

Designed by Alberto Pinto, Natita was built to a large volume specification and offers a generous amount of luxuriously decorated space on board. She was sold two months ago.

The vessel was built was built by Kusch Yachts in Germany, outfitted with a sophisticated aluminium superstructure by Oceanco and launched in 2005. Sold by Burgess a few weeks ago, who introduced both the buyer and the seller.

4. Superyacht Clarena II
Asking Price: €58m
Length: 72m

Sold by Engel & Volkers in April, Clarena II was designed by Nuvolari Lenard and built to Lloyds and MCA specifications in 2009. Clarena II measures 72m above the water and is the largest superyacht built by the CRN Shipyard.

She accommodates 12 guests across one master suite and five double staterooms.

5. Superyacht Utopia
Asking Price: €52.5m
Length: 71.6m

Utopia is a custom built Feadship launched by the De Vries Shipyard in 2004. The vessel was sold in late February by Edmiston & Company and features a luxurious master bedroom located on the deck, with a giant bed and oversized windows offering a 180 degree view of the water.

Utopia is currently available for charter with Edmiston & Company.

Source: Efinancialnews

Category: Industry