To mark the start of Marine Money’s Superyacht Finance Forum in Monaco, Head of Superyachts, Rory Jackson, explores how opaque the market is in relation to industry stakeholders. Using VesselsValue data, this article looks into the relevant tools needed for transparency, the importance of making data accessible, and whether the market is as secretive as it seems.
“For years the Superyacht market has been clamouring for data and transparency without, for the most part, defining what transparency means or what data is required. Typically, what people mean when they refer to transparency is that they want to have access to data relating to the industry’s core sectors without sharing their own information.
Ignoring asking price, we can produce an objective valuation for a Superyacht (42.61 EUR). As a seller this figure will enable you to determine whether a particular brokerage house is suggesting an asking price that is too high. As a buyer, you will be able to determine a realistic price to offer on a purchase against the asking price. In this instance, the asking price for Icon (EUR 45 mil) appears to be in line with market value, suggesting the brokerage house in question is pricing accurately.
Perhaps of greater importance, however, we can look into the performances of certain businesses. Taking examples of two real brokerage houses operating in the 60-70m sector: Brokerage X has the higher average asking price, but also applies more price reductions. Brokerage Y, by contrast, may price lower initially, but the data shows that less price reduction are applied and that the vessels sell quicker, suggesting that the initial pricing was a fairer reflection of market value and that Brokerage Y would be better suited to place a 60-70m Superyacht…”
