If recent sales activity is any indication, the market for luxury yachts finally appears to be on the upswing, although many industry experts are still proceeding with caution. In the last few weeks, a significant number of large luxury yachts have been sold, including the 32m Aslec 3, built in 2007 by Castagnola Cantieri Navi with a list price of €1,950,000, and the 46m Sea Dweller, built by Heesen in 1999 and priced at €9,950,000.
The week ending June 2 saw a total of four sales of large luxury yachts and price reductions in three others. The largest sale involved the 67.3m White Cloud, manufactured by Feadship in 1983 and refit in 2010. She was listed at $10.9 million. Also significant was the sale of the 31.1m Hero, built by Falcon Yachts in 2008, listed at €2,650,000.
In addition, the distinctive 90m sailing yacht Athena, currently at berth in Nice, France, could possibly inject additional life into the market with her presence this summer at the Superyacht Cup in Palma and later at the Monaco Yacht Show in September.
May 2014 saw more than double the sales from the same time period in 2013, showing consistency since the beginning of the year. Although enquiries continue to increase, the luxury yacht market isn’t quite back to where it was before the worldwide economic downturn as prices remain competitive and geared toward a buyer’s market. Interest in purchasing luxury yachts, however, is increasing in markets worldwide, with interest in both sales and charters.
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