‘Let’s start looking at the market for the long term’ comments Jan Jaap Minnema at Fraser Yachts (August 27, 2014)

After a somewhat lengthy sales process that saw Jan Jaap Minnema, broker at Fraser Yachts, come on board about five years ago, the 88m new build project, Illusion, out of Pride Yachts in China was sold earlier this month. Minnema took time to speak to us about the sale and the current market conditions earlier this month. On one of his trips through Asia, Minnema heard about the project through Julian Chang and “immediately saw the possibilities of promoting her via our company, and the game changing potential.” After several years of working out the finer details, Fraser signed the CA in 2013 but he comments “the prejudice was probably the most difficult part to overcome; but if you have a good reputation in the industry, people will listen and take some time to consider”.
As for the wider market, Minnema believes that “the market is not fluctuating that much at the moment really. You can look at some statistics and will maybe see a quarter with higher sales than the preceding one etc. However, we need to look at our business in the long term and only time will tell if it truly is improving.” As for market conditions in the post GFC world, he comments “yachting is all about pricing pricing pricing. Even very knowledgeable clients are talking about the price first, and then the project. That is the most remarkable change that I’ve seen post GFC”.
The week running 19 – 26 August saw two sales completed, five new central agencies announced, and six price reductions made.
Superyacht Sales
The largest sale this week was the open listing of 1990 Feadship built 46.88m Charade, priced at $13,900,000 with Northrop & Johnson bringing the buyer.
Oceanstyle has sold 2008 Leopard Yachts built 2008 34.13m Joker, on the market at €2,900,000 with Moran Yacht & Ship introducing the buyer in the transaction.
New Central Agencies
There were five new CAs announced this week, dropping from last week’s 11. The new listings had a total combined length of 211.4m, with their combined asking prices totalling €53,290,888 ($71,396,575).
The largest new CA announced this week was announced through Mark Elliott of International Yacht Collection with 2008 Trinity Yachts built 49m Destination Fox Harb’r Too, on the market at $17,900,000.
Two new listings for Camper & Nicholsons International this week: Jeremy Comport and Gaston Lees-Buckley have listed 2006 Benetti built 43.6m Dia’s, for sale at €9,900,000; while Foulques De Raigniac has placed 1999 Overmarine built 32m Mach One on the market at €980,000.
Another listing from Elliott at IYC with 2002 Trinity Yachts built 37.8m Carte Blanche, priced at $6,900,000.
The final new listing this week is through Peter Hurzeler and Axel Douque of Ocean Independence as they join Peter Bennett at Bluewater Yachting in his listing of 2012 Acico Yachts built 49m Nassima, priced at €23,900,000.
Price Reductions
Price reductions are back down from last week’s seven to six announced this week. The following yachts are still on the market and looking for a buyer:
The largest yacht to be reduced this week was 2002 Intermarine built 44.2m Lady M, listed through Thom Conboy of BYS and now priced at $9,900,000.
Tom Barnes of Bluewater Yachting has reduced 2002 Mondo Marine built 41.5m Tania T, to €6,390,000.
Stuart Larsen and Joshua Gulbranson of Fraser Yachts have reduced 2005 Danube Marine Consulting 37m Charisma, to €3,500,000.
Two reductions from Northrop & Johnson this week: Kevin Merrigan and Wes Sanford have lowered the asking price of 1985 Abeking & Rasmussen built 42.37m Sotaj, to $4,900,000; while Sanford has also reduced 2006 Palmer Johnson built 37.5m BB3, to $6,995,000.
The final reduction this week is from Mark Osterhaven of Worth Avenue Yachts with 1999 Westbay Sonship built 31.39m Child’s Play, now priced at $2,995,000

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