November 28, 2013
We write annually in our Market Report about the market for the previous year and our predictions for the coming one. We will release our 2014 Market Report at Easter time next year. In the meantime, the last 6 months have been a busy period for Berthon and we have seen increased confidence in the market with more yachts trading than has been the case over the past years.
Of course, the market is still patchy and there are areas – particularly the Mediterranean – which are challenging. However, the clouds seem to be a little less black than has been the case and the recovery that started in the USA as seen by our Rhode Island office around 18 months ago is now spreading into other markets; this is very encouraging.
As we hurtle towards the Season of Good Cheer and then into the Düsseldorf Boat Show and the inevitable run up to the new season, we wanted to take stock of what we have achieved in the last period. We have sold performance, blue water cruising, classic, displacement, semi displacement and planing motor yachts. These sales have been to a diverse range of clients from the USA, Northern Europe, the Antipodes, and also (curiously) to Southern Europeans, as well as of course to UK buyers.
Yacht SALE prices appear to have stopped falling for the first time since 2008, although you ASKING prices continue to fall to meet the new price levels that have been set by the market. Of course currency can skew this and whilst we haven’t yet seen a significant permanent currency shift in the past 6 months, the weaker dollar brought about by the prospect of QE (Quantitive Easing) unwinding, and a slightly stronger sterling will eventually create anomalies if they continue their current trajectories. Certainly, the über strong Scandinavian “haven” currencies have shown less resilience at last. The message is that BERTHON is up with the relative movements and in many cases we have had to work with clients to manage these to their advantage.
New yacht sales have been challenging for everyone in our industry but the last six months have thankfully seen a significant improvement in sales for Windy boats both in the UK and France. Models that have sold in the last 6 months include the Windy 26 Kharma, Windy 29 Coho, Windy 31 Zonda, Windy 39 Camira, Windy 40 Maestro, Windy 44 Chinook and the Windy 52 Xanthos, and this is testament to fab new models, excellent press write-ups and, of course, a better economic outlook.
Finally, not only have we put an FPB 78 into build at Circa in New Zealand – an exciting and unique project in which Steve Dashew’s remarkable design skills will produce a very special yacht – but whilst she is in build, the buyer has afforded himself an FPB 64 which will be making her way from NZ to Europe in the New Year. Watch this space.
As far as our prediction for 2014 is concerned, the Market Report will be out in the Spring.