Sales of New Superyachts Rose Significantly in 2017: 2017 was a great year for builders as the number of sales for new yachts over 30 meters in length increased by 25 percent. More than 435 yachts over 30 meters were sold, with 180 of these being brand new boats. In 2016, 144 new superyachts were sold, down from 186 in 2015. The 2014 calendar year saw 159 new superyacht sales. Most yacht sales fall into one of the following five categories:
New Orders
This is the biggest category for new yacht sales. It means the yacht is not yet under construction when the sale occurs. Included are fully custom, semi-custom and products yachts that were sold before they were actually started.
Speculation Sale
Some builders construct superyachts on speculation, meaning they begin the project without a client but try to sell it during construction. Sometimes yacht owners also speculate by ordering two similar yachts and then attempting to sell one. More commonly, an investor of a yard finances construction of a speculation project. When one of these is sold, it counts as a speculation sale.
Shipyards commonly start a speculation project in two different manners. Some complete the yacht fully whereas others will only start the hull and superstructure and then wait for a buyer. These projects can be on hold for a long time before being sold. These projects are still classified as speculation sales and not on-hold project resales as described below.
Stock Sale
Similar to a speculation sale as construction is initiated by the shipyard, a stock sale occurs when a yacht is already completed.
Active Project Resale
When a client sells a yacht to another client during construction it is called a project resale. This type of sale only occurs in about 5% of all superyacht sales.
On-Hold Project Resale
The main difference between this and an active project resale is that no work has occurred on the project for a while. These do not include speculation projects that have been put on hold by a yard as part of their normal way of doing business.
2018 is off to a good start with approximately 40 new superyacht sales in the first quarter. The current year’s numbers probably won’t reach those of 2017 as about 35% of the yachts under construction were for sale, while the current inventory is at approximately 25 %. To get an accurate picture of the current superyacht market, it is better to look at two or three year’s worth of data as superyachts take several years to build.
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