As with any new or used product, the market for yachts fluctuates continuously. Lifestyles change, disposable income rises and falls, and the overall appetite for any given commodity is never assured. However, the luxury nature of yachts makes them a little more robust in terms of holding their value and remaining desirable. Observed fluctuations in the used yacht market are seldom signifiers of wider long-term trends, apart from the slow but incessant rise of inflation that affects everything.
At Simpson Marine, we have dedicated our professional lives to understanding and staying on top of the game in all aspects of the glorious, decadent vessels we love. In this article, we want to share the knowledge we have acquired regarding any vessel’s real and perceived value and answer the question: How do you determine the market value of a yacht for sale?
UNDERSTANDING YACHT VALUATION
Although it is not the sole driving factor in value retention in the used yacht market, the cost of producing luxury yachts and other vehicles from scratch is a critical factor. This in itself is highly susceptible to external fluctuations in elements such as:
However, not all changes in a yacht’s market value are driven by production costs and associated fees. Factors like social and lifestyle trends can also impact the current value of any luxury commodity and occasionally cause dramatic rises and falls. Although these may reveal themselves as blips in the pattern of valuations, their effect on the luxury yacht market will only ever be temporary. There will never be a time when these vessels are not considered desirable.
HOW DO YOU DETERMINE THE MARKET VALUE OF A YACHT FOR SALE?
It is hard to overstate the importance of accurately determining a yacht’s market value for potential sellers and buyers. The amounts are significant, making theoretical losses more extreme and potentially devastating. The only sensible option is to engage the services of professional, experienced yacht dealers like Simpson Marine and work closely with them to ensure all the angles are covered. However, you may wish to educate yourself on the details beforehand, which can never be wrong.
ACCURATELY DETERMINE THE SIZE OF THE VESSEL
Generally, the larger a yacht is, the more expensive it will be. Size is not limited to length alone, and the floor space in m2 (metres squared) or ft2 (feet squared) is also contingent on its width. This will have a direct, correlative effect on the inherent value of the vessel in conjunction with the factors listed below. Bigger is not always better, especially if other factors play a significant role, but it is an excellent way to determine the general value and give a base starting point.
KNOW THE AGE OF THE YACHT
Increased age drives value in the opposite direction. Again, there are other extenuating factors to consider, but the older a yacht is, the less expensive it becomes. At a certain point in its lifetime, a yacht might be worth little more than the value of the scrap it contains, especially if it struggles to be declared seaworthy.
CONSIDER THE LOCATION
It may seem counterintuitive to imagine that the same vessel can be worth different amounts in different places, but the fact is that each location represents its own market. The demand for luxury vessels with pools and sundecks for basking in the sunshine is bound to be lower in colder climates, and deep-sea fishing yachts will be less desirable in chic, cosmopolitan areas or tropical climates.
LOOK AT THE COMPETITION
The yacht and superyacht market is consistently comparable to any ‘supply and demand’ scenario. If you are selling a luxury vessel, it makes sense to do so in a location where more people seek to buy one. However, this also increases competition and may drive expected prices downwards. Conversely, if you want to purchase a yacht, the more examples to view, the better your chances of striking an amenable deal.
ASSESS THE EXACT PHYSICAL STATE OF THE YACHT
None of the factors mentioned thus far when addressing the question – ‘How do you determine the market value of a yacht for sale?’ is more significant or impactful than its physical state. Old vessels that have been impeccably maintained and looked after are bound to be more valuable than new ones that have been mistreated and left to deteriorate. A thorough, professional assessment of any vessel is critical before purchasing and highly recommended when selling, something any competent yacht broker can assist you with.
A flawless record of maintenance and servicing goes a long way towards mitigating the worst devaluation, and it should be a non-negotiable factor of owning any vessel that you have it serviced and repaired regularly, keeping a detailed record and any receipts.
ACKNOWLEDGEMENT OF NON-STANDARD FEATURES
The additional features we might expect to see on any yacht depend on its intended use and the lifestyle preferences of the previous owner. Whether selling or buying, the additional features and equipment can make an extraordinary difference to the price if desirable. Some of those features include:
THE ROLE OF PROFESSIONAL YACHT BROKERS IN DETERMINING A YACHT’S MARKET VALUE
Professional, experienced yacht brokers are undoubtedly the best option for accurately estimating any yacht’s value. In-depth knowledge of the market and the most desirable attributes of any vessel make their engagement a game-changing decision that few people regret. Some tactics and practices they employ include:
CONCLUSION
While taking a balanced approach to selling or purchasing a yacht is crucial, it also pays to temper your expectations and give yourself the maximum timeframe for success. Rushed transactions risk missed opportunities and potentially costly mistakes.
At Simpson Marine, we base our yacht valuations on thorough, impeccably researched analysis and historical data. Our experts have decades of collective experience in the industry and are quick to spot new trends and their potential effect on the value of any yacht. This makes them an invaluable resource in the battle to stay on top of the market and provide a premium, data-based service for our valued clients.
CONTACT US
If you want to learn more about Simpson Marine and discuss our incredible range of luxury vessels and top-tier services, please contact us today. Our experienced, knowledgeable team has all the information you need and will gladly discuss any aspect of yachts and yachting you have in mind. We stand proudly by our courteous, professional ethos and will do everything possible to help.
T: +852 2555 8377
E: [email protected] 
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