CNI forecasts “stable road ahead”

By David Robinson
Fri Jun 16 2017, 16:44 PM

Camper & Nicholsons International expects 2017 to be another strong year for the global yachting market

“2016 was an exciting year and interesting year for yachting, and looks to have paved an inviting and stable road ahead for 2017,” says Paolo Casani, managing director of Camper & Nicholsons International (CNI), in the company’s summer edition of SEA+I.

His comments are part of CNI’s latest market intelligence data which is published in the Summer 2017 edition of the magazine. "Optimism seems to be a recurring theme throughout the industry, spilling into the charter sector and all the superyacht services including charter management, yacht management and crew recruitment," he says.

CNI’s 2016 brokerage review states that 504 yachts were sold in 2016, comprising 448 motoryachts and 56 sailing yachts. This, according to CNI's research, was an increase of 12% over 2015 when 449 brokerage sales were concluded.

With regard to superyachts, the total length sold in 2017 was 17,291m (56,772ft) compared to 15,693m (51,525ft) in 2015. The average length of superyacht sold fell to 34.3m (112.6ft) last year against 34.9m (114.5ft) in the previous year. In 2016 the length of motoryacht sales was 15,431m and sailing yacht sales 1,860m.

The largest motor superyacht sold in 2016 was the 80.2m (263ft) Golden Odyssey II, which had an asking price of US$39.95m. The 57.5m (189ft) Twizzle was the largest sailing superyacht sale in 2016 and she had an asking price of €39.75m.

According to CNI’s market intelligence, the value of all yacht sales over 24m in 2016 was €3.293bn, giving an average sale of €6.6m. Of the total sales figure, motoryachts accounted for €3.041bn and sail superyachts €252m. This made the average sale price of a motoryacht €6.9m and a sail superyacht €4.5m.

The average sale prices in 2016 compared to 2015 were as follows (2015 figures in brackets):

Yacht type              24-30m                       30-40m                   40-50m                   50m+

Motor                   €2.6m (€2.5m)          €5.3m (€4.9m)     €13.2m (€11.1m)      €31.4m (€29.1m)

Sail                      €2.3m (€2.0m)          €3.7m (€5.4m)       €6.8m (€4.7m)        €28.8m (€17.9m)

“While a general upturn is welcome news, it is only when you drill down into the detail that you can see that the market is still split by size and type, and that market improvement is confined to specific segments,” says CNI. “During 2016, the 24m-30m category accounted for 43% of all brokerage yachts sold, while the 30m-40m accounted for 39%, giving a total of all yachts sold 24m-plus of 82% up to 40m compared to 78% in 2015.”

The review adds: “This could be viewed as an indication that clients are purchasing smaller yachts although the number of clients in this size range have increased rather than potential large yacht buyers looking at smaller yachts. This is good for the yachting market as it indicates there are new clients dipping their toes into the water, some of whom may start small and move on to bigger yachts in the future.”

In 2016, CNI and Wealth-X produced a statistical review of the superyacht market and trends in the world’s wealthy. Kurt Fraser, marketing director of CNI, told IBI: “We will be producing another report with Wealth X in 2018. By then the figures that appear in the current brokerage review will have moved on.”