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Yachting Market Update from the Monaco Yacht Show 2010: Fraser Yachts Envisages Lower Prices for New Builds and for Charter Prices this Winter in the Caribbean

Aboard H2ome Hein Velema welcomed the international yachting press to the Monaco Yacht Show and and explained why lower second hand yacht sales from 2009 were affecting new build prices and luxury yacht charter prices in 2010.

2010-10-01
ST. TROPEZ, FRANCE, October 01, 2010 (Press-News.org) Aboard H2ome Hein Velema welcomed the international yachting press to the Monaco Yacht Show and and explained why lower second hand yacht sales from 2009 were affecting new build prices and luxury yacht charter prices in 2010.

Hein explained that 2010 second hand yacht sales for 2010 are much better than 2009, which had been a bad year for everyone, and had created a large stock of yachts on the market. The average size of yachts being sold is 38m and average year of yachts sold is 1998. Sales were really looking good until June and July, and then in August sales slumped. However, Fraser Yachts do expect the market to pick up again after the holiday season and appointments for yacht visits at the Monaco Yacht Show was impressive. Supply, however, is still high. While second hand super yacht sales numbers were good, yacht prices became lower, owing to the stock of yachts on the market waiting to be sold. Prices are at about the same level as they were nine months ago.

"We are experiencing lower prices in the second hand market, and there are lots of yachts still on the market. In March 2010 we saw 39% of all super yachts for sale which is a huge number. The number has now dropped in September to 34% so there are relatively more boats being sold than are coming in the market. This could mean a recovery in prices in the not so distant future." When asked about yacht bargains, Hein explained that some owners were prepared to hang on to their investment until the market changes; "If you are looking for a bargain yacht for sale it is there, but you will have to look for it."

Lower second hand yacht prices directly influence the sale of new build yachts. Industry leaders have noticed a huge drop in sales owing to the reduced prices of second hand yachts; however, it is picking up. Shipyards are still working under capacity, which means they are under great pressure to sell, to fill up their order books. Shipyards are happy to negotiate quite heavily but will still want to get costs covered. Lower prices in the second hand superyacht market, and very motivated shipyards means that new build market could be difficult until the second hand yacht prices go up to within 15% of new build prices. Until then, shipyards are urged to create unique new boats, evidence of which is at the Monaco Yacht Show 2010 and on H2ome herself.

The stock pile of yachts that have not been sold has lead to lower prices for the Mediterranean yacht charter market. There are lots of new yachts coming on to the charter market, and new builds are still being delivered from the shipyards. There is also an increasing trend for owners to put their yachts up for charter, owing to owners becoming more realistic about return on investment as well as current tax regulations and TVA laws. Charter supply is rising above a just stable charter demand, which naturally leads to some great deals, visible in last minute discounts. Expectations for the winter season for Caribbean yacht charter is that rates will reduce dramatically to where the discounts were during the summer season for Mediterranean yacht charter, and that people will be also looking for higher quality crew.

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

Relevance Web Marketing are a marketing company in France.


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[Press-News.org] Yachting Market Update from the Monaco Yacht Show 2010: Fraser Yachts Envisages Lower Prices for New Builds and for Charter Prices this Winter in the Caribbean
Aboard H2ome Hein Velema welcomed the international yachting press to the Monaco Yacht Show and and explained why lower second hand yacht sales from 2009 were affecting new build prices and luxury yacht charter prices in 2010.