Fraser Yacht Representative Speaks at this Year's Annual La Belle Classe Superyachts Symposium

ST TROPEZ, FRANCE, April 06, 2011 (Press-News.org) Representatives from across the industry were present this year, from designers to captains, brokers to specialists in yacht finance as well as governmental authorities. Each one keen to find out what the experts thought of the current economic situation, its effect on the yachting world this past year and what the next year could bring.

The Tide is Turning for Sales

Opening the floor was David Legrand of Fraser Yachts who laid out the facts and described in detail the current situation in yacht sales, highlighting that;

"After a difficult end of year in 2009, 2010 saw a recovery in sales with transactions to the value of 2,575,866,000 Euros, a +30% increase on 2009. And the average value of these transactions was 13 million Euros."

This increase in sales has been put down to the drop in 30-40 metre vessel prices, an action taken by owners looking for a quick sale. The second hand market has also faired pretty reasonably with sales picking up after the expected price adjustment. This has led to a stabilisation in the market place with demand vs. supply levelling out towards the end of 2010. Experts are pleased to report a healthier market in 2010 that looks set to continue into 2011.

Choppy Seas Ahead for Luxury Yacht Charter

Predictions are always difficult however as last year's expected charter market proved. Contrary to predictions 2010 turned out to be a tough year for luxury yacht charter with most deals being completed last minute by brokers for dramatically reduced prices.

Some experts are fearful that these new owners will be unable to maintain ownership costs meaning that 2011 could see a saturation of the second hand yacht market. This would cause prices to depreciate even further and jeopardize market recovery. This too will have a knock on effect for the new build sector that is always the last and slowest to pick up.

Other brokers remain optimistic however and see this year's progress as positive, already seeing improvements in mega yacht charter figures compared to this time last year.

Monaco Leads the Way to Recovery

The Cote d'Azur and Monaco have been leading the field in improving market recovery. With its unshakable image the Monaco Yacht Show still continues to generate sales and is viewed as a good indicator of the stability in the market place.

"For the last four to five years demand from exhibitors has been stable, with 50 to 80 companies on the waiting list who we are not able to satisfy. However, the size of yacht has changed with the 40 metre average in 2005 rising to 45 metres in 2010 and an increase in demand for yachts of over 60 metres," comments Gaelle Tallarida, Managing Director of the Monaco Yacht Show.

Roundup

General consensus at this year's Annual La Belle Classe Superyachts Symposium is that recovery is moving in the right direction. Whilst buyers are still keen to find a good deal, owners aren't panic selling and are instead holding onto investment and offering them for luxury yacht charter. This is helping to balance the market place and return supply vs. demand to something like what it was pre economic crisis.

Fraser Yachts is a full service yachting company offering luxury yacht charter, super yacht charter, mega yacht charter, luxury yacht sales and construction, as well as yacht management and crew-placement services. For further information regarding any of these please visit the Fraser Yachts website at www.fraseryachts .com.