Market trends after Cannes 2022

Yacht-Match Team

Thank you to all who could visit us during the Cannes Yachting Festival! Once again, the Cannes Yachting Festival has been a blast for all who participated.

From left to right: Viktor, Daria, Kristina, Tijana, Dirk and Inez.

The Yacht-Match Team has grown

Next to Kristina, Viktor and Dirk, this year the Yacht-Match team was present with 3 further colleagues who joined Yacht-Match in the last 12 months contributing with their valuable knowledge in the industry, positive attitude and open minds.

We can’t wait to introduce them to you:

With Daria, our new Yacht Sales & Charter Management Advisor with 20 years overall experience in yacht charter, we can now cover additional areas and extend our services.

Tijana, our pre-sales specialist, has our back supporting us with the right actions for every client.

Inez, our experienced after-sales manager, solves every issue after purchase & handover.

Back to Business – a full “normal” season after Covid 19

2022 has been the first fully normal yachting season post-pandemic. In fact, the shipyards are experiencing a boom like never before.

Why is this so? How do they deal with increasing prices?

You hear it everywhere – their order books are full until 2026/27. Is that the truth? And how has the increased demand for yachts affected the shipyards?

In this article we will address some of these topics in hopes to shed some light and clarity on the boating industry and what you can do to strengthen your position if you are in the market to buy a yacht for this year or within 2-3 years.

Daria: At the Cannes Yachting festival we experienced how challenging it can be to order a new yacht for a client. The impression is that shipyards are not interested in more orders, at least for now. For our clients, we had to revert to already existing pre-ordered slots if we ordered new yachts with a delivery time that is reasonably close. We understand that shipyards are having difficulties holding the delivery times they promised because of raw material shortages or delays in their supply chains. Besides, they have to deal with increasing prices for raw materials or spare parts they order elsewhere. In the same time, there’s an increased demand for yachts. Are they just being extremely careful with how many new orders they confirm?

Dirk: Many potential boat buyers were surprised that the Cannes Yachting Festival was not any more the event where they could order a boat for the next European summer season in 2023, some of them were disappointed others were angry. Yacht-Match with our worldwide network of cooperating dealers and charter companies still have some models to deliver in 2023, but in general, clients sometimes have to wait until winter 2023/24, but most of the time even longer, for the hand-over of their next new boat. The shortage in new boats puts pressure on the pre-owned market; the results are high prices and short sales trajects.

But should the prospective buyer postpone his or her decision? Bear in mind that postponing your decision for a new boat will postpone the delivery and will increase the price you’ll have to pay for the same model. Our advice for acquiring a pre-owned yacht is to grab the opportunity of the matching yacht when it occurs.

Yacht Sales & Brokerage Market

Considering the current world situation and increasing prices, many clients ask us on the one hand, if there are still financing possibilities for yachts. On the other hand, we also see more clients hesitating, if this is the right moment to invest in a yacht. What will happen with the prices in future?

We explain yacht financing and give you our expert opinion on the price forecast.

Daria: At least if we speak about the near future, by this I mean 1-2 years from now, the prices for new yachts will keep growing, just out of the fact that shipyards will have to pay higher invoices from their providers. Even if the world situation changes again and we manage to control inflation, the effect will stay on for a couple of years at least. Meaning that if you order a new yacht next year you will definitely have to pay a higher price compared to now, and it will most probably be even higher if you order in 2 years from now.

If your plan is to enjoy your yacht within 3-5 years and you don’t know when is the right moment to buy, we recommend considering buying now with a flexible charter ownership plan and/or financing plan.

Dirk: Financing your asset should be a tailor-made solution. We always recommend our clients to first speak with their own business- or private bank, about what they can offer. After all, your bank knows you best and can advise accordingly. However, banks are risk-averse and if they don’t have experience with financing floating assets they most probably won’t help you with a reasonable financing solution.

Fortunately, there are banks or leasing organisations who are active in the leisure marine market and if your personal financial situation is stable they are willing to lend you money based on a leasing contract. You’ll find these banks mainly in France and Croatia and some in Italy. Most banks in France and Italy only offer loans or leasing to their citizens, except SGI/SGB in France which offers leasing to most West-European citizens. In Croatia, there are three bank-related leasing organisations; ErsteL, OTPL and PBZL. These leasing companies are fully integrated with the charter community in Croatia and know their risks and offer leasing solutions to charter companies and private owners.

As independent advisers, the Yacht-Match team can assist you in finding the matching financing solution.

Viktor:

“When is the right time to order my boat”?

For many that have been researching and are longing to become boat owners within 2-3 years, the question of how do I manage to purchase a yacht in the most secure way? and when is the right time?, are among the most frequently asked questions we receive.

These past 18 months have most probably put a lot of new question marks and perhaps hurdles in your path?

Prices have been steady increasing, coupled with an ever-growing demand and longer waiting times (delivery times).

Pricing and commercial policy regarding the purchase of your yacht varies greatly between the different shipyards. It is therefore important that you know what the obligations of the yard are and how your dealer/broker is working towards securing your interest.

It’s also imperative that you ask your dealer for secure ways how to purchasing your yacht, such as using Escrow account or Trust account to manage the payment and secure the delivery if you are expecting to make a decision now to secure a delivery in 2-3 years time.

“How do I safely order my boat and secure the prices?”

At Yacht-Match we are client-centric. Meaning that our relationship as your Purchase Advisor and Consultant insures that you are informed about the various ways of buying and owning a yacht, comparing yards, models, equipment list and after-market options, tax advantages, registration, and ownership solutions for charter ownership.

Yacht-Match is member of the HISWA international boating association. Watersport companies must apply the HISWA conditions when dealing with consumers.

The HISWA general conditions were established with the ANWB and the Dutch Consumer’s Association to ensure your interests as a consumer are properly protected.

HISWA is the only trade association in the watersport sector to provide an independent disputes committee that includes representatives from consumer organisations.

Yacht-Match offers secure purchase arrangements for our clients using the Trust Account managed by HISWA.

“Is it true that the delivery times are now in 2025 & 2026?”

This is true and will not change. Waiting and hoping that the market will subdue or that slots will become available due to someone regretting their decision, will not happen.

What we know is that the shipyards will continue to increase their prices due the costs of production increases.

However, we also know by working in direct contact with many of the major dealerships and smaller regional importers and dealers, that many of the pre-ordered slots at the shipyards are just stock boats and don’t yet have a “client” or “boat owner” name on them.

This presents a problem for the market, not just because the bigger dealerships are effectible outmuscling and purchasing all available boats for the future as stock, but also because you as the buyer will most probably not be receiving the same service and level of commitment from a large dealership compared to a smaller dealership.

“Considering A Yacht for Charter Management?”

Charter ownership can be the perfect solution for your first years of being a yacht owner, depending on your life situation. But – what is the right way to do it? We compare charter ownership solutions with local businesses and big global companies and explain you the difference between tailored charter ownership and charter management programs.

Daria: At Yacht-Match, we always personalize the ownership solution for each client. Meaning that we’d rather offer you a tailored charter management instead of charter management programs from a big charter company. Why is that better? To say it in just two words, it is more flexible and gives you as owner more freedom. You are always part of the decision making. It also limits your risks, as you don’t have to fear that the charter company fails or goes into bankruptcy.

Viktor: Now is the perfect time to make your decision to enjoy the imminent investment advantages:

Yacht-Match has secured over 50 new and used yachts that are either available for charter ownership or ready for your take over and continue with an already existing charter agreement.

  • Many ordered yachts come with already booked charter weeks.
  • Beat the next price increase, make use of the current price now.
  • These are all popular models in yacht charter.
  • Secure the deal now, you’ll be in time to create a profitable ownership.
  • The low interest rate, makes financing practically a no-brainer.
  • The unique Yacht-Match management service, of the purchase, delivery and ownership!

Events to look out for

At Yacht-Match we take care to arrange the best possible way to assist our clients in their selection phase.

Webinars

In October we will run several webinars on topics like yacht purchase, charter ownership and also different boat reviews. You will get an e-mail with invitation to each webinar.

Sea trial & Shipyard visit

In November we organize sea trials and shipyard visit with cruising catamarans from La Rochelle and sea trials in Italy with performance yachts for our clients in decision stage. So let us know if you are interested in joining us. Click here to contact us now.

Look & See Trip

On request, you can join us to visit charter fleet operators who are part of the Yacht-Match Preferred Partners Group and see yourself where your future yacht will be managed in case you decide so.

Upcoming Boat Shows

The next opportunity to meet us will be the Biograd Boat Show (26/10 – 30/10/2022) and boot Düsseldorf (21/01 – 29/01/2023).

Viktor van Savooyen
Co – Founder

With an international background and great language skills, Viktor found his way to working on commercial vessels and into the yachting world. Before starting Yacht-Match, he was a business manager for some of the industry’s leading charter management providers and yacht sales.

Read more about Viktor here!

Dirk Agter
Co – Founder

Dirk has worked in the leisure marine business since 1988. He has built his career through various positions: yacht broker, dealer, charter business manager, dealer manager, independent sales manager and now co-founder of Yacht-Match.


Read more about Dirk here!

Daria Petrova
Sales and Marketing Manager

Daria’s career in the Yachting Industry goes back to 2002 with her first job as an office manager at a yacht charter agency in Berlin. After some years of gaining experience within the sector, she moved to Mallorca, Spain. In 2006 she founded her own yacht charter agency Morecruise, which became one of the first charter agencies that came to the Russian speaking market.


Read more about Daria here!

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