One of several anomalies that were present in the yachting market shortly before the 2008 crisis, yacht flipping had rapidly gained momentum before disappearing within weeks. Now, the trend is starting to reappear on a larger class of vessels.
Demand was so strong back in 2006-2007, that an already built superyacht was selling at a premium over a newbuild as clients had to wait to get the newer yacht. Exploiting the arbitrage opportunity, a portion of UHNWIs started ordering yachts and selling them before or shortly after they hit the water to a cohort of impatient buyers.
Some realised this method could yield even greater results if ordering multiple yachts at the same time from a shipyard to gain volume discounts. Perhaps the most noticeable of these projects was one led by real estate developer Warren E Halle.
In 2003, the American entrepreneur ordered a 67-meter Lurssen codenamed Project Marlin, now named Apoise, which he sold in 2006 for €65 million to Canadian entrepreneur David Ritchie. The year prior, he had ordered another 2 yachts of similar size, Project Shark and Project Nemo, both for €48 million a piece. In 2008, he sold Project Nemo for €71.500.000, with her new owner renaming her to St Nicholas.
The 3rd yacht, Project Shark, became known as Martha Ann, which Warren Halle kept for his personal use. Stretching over 70-meters the yacht had a standard 6-cabin layout and an exterior by Espen Oeino. Halle ultimately sold the yacht in early 2019 at an asking price of $79 million, with her owner renaming the yacht to Horizons III.
Shortly after the completion of Halle's 3 Lurssens, yacht flipping was widely considered to be extinct with demand for brokerage yachts falling well below its past levels and failing to recover to pre-crisis levels to this day. Amongst megayachts, the trend is, however, starting to reappear within the past quarters.
Graeme Hart, New Zealand's richest man, placed an order for the 107-meter Ulysses in 2013, at Kleven, a commercial shipyard, with designers at the time saying it was picked thanks to its quality standards, delivery times and price point. Later in November 2014, Hart placed an order for a larger, 116-meter version of Ulysses.
Amongst Ulysses's key features are a 21m tender, lifted by specially designed cranes onto the foredeck, an 11m x 5m swimming pool, a large jacuzzi, a sauna, a gym and a massage room. Listed for sale shortly following her delivery in 2016, the yacht was ultimately sold in 2017 at an asking price of €155 million. The 116-meter Ulysses was sold in 2019 at an undisclosed price.
Whilst Halle's and Hart's projects differ in size, it could be argued that the 70-meters a decade ago rivalled in standing today's 100-meter yachts. The entry barrier to the world's largest 100 yacht list has indeed been increased from 65 to 85 meters. This could make yacht flipping one of several signs in yachting that a recession could be coming.
The Pershing GTX series continues to captivate boating enthusiasts with its latest addition, the Pershing GTX80, which redefines the essence of pleasure and exhilaration on the water. This stunning yacht exemplifies a seamless integration of interior and exterior spaces, creating a harmonious ambiance that promises an exceptional cruising adventure. As the new entry in the GTX series, the Pershing GTX80 embodies a groundbreaking approach to sports yachts, emphasizing on-board comfort and spaciousness while staying true to Pershing's heritage of high performance and sporty design.With an impressive overall length of nearly 24 meters and a beam of 5.8 meters, the GTX80 is the culmination of a collaborative effort by the Ferretti Group Product Strategy Committee, under the guidance of Piero Ferrari, Vallicelli Design, and the Group’s Engineering Department. The yacht, constructed at the Ferretti Group’s Plug and Mould facility, showcases a blend of advanced technology and artisanal craftsmanship, stretching across two decks and a sportbridge, all while accommodating up to eight guests in four exquisite cabins. The meticulous design focuses on proportion and balance, achieving a refined equilibrium between the hull and superstructure, resulting in a visually stunning sports motor yacht.Upon first glance, the exterior of the Pershing GTX80 makes a bold statement. The classic Pershing silhouette is enhanced by innovative design choices, particularly observed in its near-vertical bow and a graceful, slightly convex sheer-line. The lightweight bulwarks incorporate a longitudinal slot in the bow, while in the stern, they fulfill dual functions by housing winches and transforming into lateral terraces, enhancing contact with the water. The hull boasts elegant, flowing lines, combining the signature grey of Pershing with a deeper hue on the superstructure alongside polished carbon on the hardtop. This refined color palette speaks to the yacht's elegance and aesthetic allure.The main deck features a two-level layout optimized for water interaction and relaxation. A spacious beach area spanning 28 square meters at the lower level can be accessed through electrically operated lateral terraces. This area is strategically designed with a multifunctional stern platform that offers three operational positions: launching tenders, default mode, or an integrated extension with the side terraces for expansive leisure space. Additionally, a large transom locker provides easy access to water toys.A raised second level comprises a 14-square-meter cockpit, complete with a dining area that opens up to an indoor galley via electrically operating windows. This design enhances the flow between indoor and outdoor spaces, enabling the cockpit to also serve as an outdoor bar. A door featuring two sliding overlapping panels grants entry to the expansive 36-square-meter living area. The galley configuration offers flexibility, featuring ambient bar counters both inside and accessible from the cockpit.The design ethos reflects the dynamic nature of the Pershing GTX80, accentuating the onboard experience. Large panoramic windows surround the living area, enhancing the connection to the sea while allowing ample natural light to fill the space. Thoughtfully designed silk grey-colored wooden panels paired with innovative LED light installations create a vibrant atmosphere.Accessed via a starboard staircase, the lower deck can be customized for either four cabins with en suite bathrooms or a dinette alternative. The master suite, located midships, boasts a stunning interior characterized by sky-blue leather paneling and a beautifully coordinated lighting scheme that mirrors the elegance found throughout the yacht. Impressive features like metallic lacquered panels in the bathrooms highlight a sculptural aesthetic, while lighting design remains a focal point, reinforcing the GTX80's chic ambiance.Continuing the hallmark features found in earlier models like the GTX116, the sportbridge offers a 23-square-meter sun deck, significantly larger than comparable offerings in the category. The sleek arch-shaped deckhouse and optional carbon fabric hardtop enhance both aesthetics and performance. The expanded sunpad in the stern integrates with the dining area, while the exterior helm station is equipped for a functional yet stylish cruising experience.The Pershing GTX80 is powered by three 1,000 mhp Volvo Penta D13 IPS1350 engines, achieving preliminary top speeds of 34 knots and cruising speeds around 28 knots. Consistent with Pershing's commitment to innovation, this model incorporates cutting-edge technological enhancements including the Volvo IPS electro-hydraulic steering system, Humphree trim stabilizers, and optional Seakeeper gyroscopic stabilizers, while offering the convenience of joystick driving and assisted docking. The yacht is certified under CE Class A regulations, ensuring excellence in both performance and safety.The Ferretti Group, led by Chief Executive Officer Alberto Galassi, is now one of the world’s leaders in the construction and sale of luxury yachts and pleasure vessels, with a unique portfolio of brands: Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN, Custom Line and Wally.Credit: Ferretti Group
November 20, 2024
Acquera Yachting has officially opened new offices in Antigua and Anguilla, just in time for the upcoming yachting season, marking an expansion of its Caribbean presence to eight locations. Operating in this strategic yachting hub since 2021, the agency is known for its personalized services for superyachts and solid partnerships with key local operators.As part of its enhanced service offerings, Acquera is introducing AcqueraPro in the Caribbean – a platform that provides ongoing support to captains and charter brokers, which has already seen success in the Mediterranean.The Caribbean is increasingly vital to Acquera Yachting, a global leader in custom superyacht services that has been present in the region since 2021. With the addition of new offices in Antigua and Anguilla, the agency aims to bolster its existing operations. Diana Guidi, Chief HR Officer of Acquera, stated, “Following recent acquisitions, the Acquera team has grown by adding 40 agents across various Caribbean islands, including about 23 newly recruited professionals, all equipped to deliver exceptional service to local captains. We are actively recruiting additional talent to further enhance our service range and efficiency in this strategically important area for both the agency and the broader yachting industry. During peak season, over 1,500 superyachts are typically anchored in the region.”The rapid expansion strategy, reinforced by significant acquisitions and a growing network of offices, positions Acquera to deliver reliable, specialized services for the upcoming season, markedly improving response times across key locations. This growth is driven by Acquera's extensive knowledge of local logistics, regulations, anchorage spots, and technical requirements, addressing the complexities often associated with managing operations in the Caribbean.To further elevate service quality, Acquera will launch AcqueraPro locally, a platform that recently concluded a successful season in the Mediterranean. This tool simplifies cruise management and the creation of customized itineraries, providing captains, crew members, and charter brokers with quick access to essential technical and entertainment information via an intuitive user interface.AcqueraPro has been developed through ongoing collaboration with captains, brokers, and the local service network to ensure timely and precise information related to bureaucracy, port formalities, and customs procedures. It also facilitates itinerary planning, mooring consultations, and various service bookings, including transportation options like drivers, helicopters, private planes, and reservations at Michelin-starred restaurants, all directly accessible through local agents. For charter brokers, AcqueraPro streamlines fleet management, optimizes itinerary proposals, and improves communication with owners and guests.This platform is particularly valuable in the Caribbean, which offers frequent anchorage opportunities and diverse exploration options that bolster local businesses and foster regional development. In the past two months, Acquera has enriched its offerings by adding over 400 exclusive and outstanding activities, enhancing the experience for visitors and showcasing the unique qualities of the destination.Credits: Acquera Yachting
November 20, 2024
Designer Jay Aberdoni has introduced an impressive new concept: the 80-meter superyacht, Standby. Joining Oceanco's Simply Custom portfolio, this innovative design streamlines the commissioning process by utilizing a reliable naval platform crafted by Lateral Naval Architects. The standout features include a length overall of 80 meters, a maximum speed of 16.5 knots, and an expansive volume ranging between 2,500 to 2,700 GT, with ample opportunities for exterior and interior customization.Aberdoni draws inspiration from the tranquility of minimalism, stating that Standby "removes the unnecessary" to focus on the essential experiences of life. The yacht's "geometrically layered" deck designs enhance breathtaking views while the terraces draw attention to the stunning natural surroundings.Noteworthy highlights include a spacious bow equipped with a helipad, a cozy firepit lounge, and a serene sundeck with a pool and sun loungers. The beach club is a unique centerpiece, combining a gym and spa designed with elements reminiscent of traditional Japanese dojos, featuring tatami flooring and natural materials. Accommodating up to seven cabins, including the owner's suite, Standby promises a sublime nautical experience, complete with cutting-edge stabilization and eco-friendly technologies.Credits: Jay Aberdoni
November 20, 2024
Westport Yachts has announced the launch of its latest model, the New 117 35m motor yacht. Currently in the midst of extensive sea trials, this stunning vessel is scheduled to ship to Florida in December, with an official debut planned for the 2025 Palm Beach International Boat Show.The New 117 signifies a remarkable achievement in Westport’s legacy of creating timeless yachts, showcasing a commitment to quality engineering and luxurious design. Built to the stringent standards of the American Bureau of Shipping (ABS), it carries the A1 Yachting Service AMS class notation as outlined in the ABS Guide for Building and Classing Yachts.This new model reflects Westport’s confidence in the growing demand for high-performance vessels. The yacht features a perfect blend of sophistication, style, and seaworthiness, promising an exquisite yachting experience for both owners and guests.Engineered for stellar performance, the Westport 117 boasts an innovative hull design that enhances its capabilities while integrating a state-of-the-art Selective Catalytic Reduction (SCR) System. This advanced technology underscores Westport’s commitment to environmental stewardship, significantly reducing emissions and fostering a cleaner, more sustainable yachting experience. “We are thrilled to announce the launch of this new model,” stated Daryl Wakefield, President of Westport Yachts. “Our goal at Westport is to exceed expectations with every yacht we create, and this vessel is no exception.”“As an industry leader, Westport Yachts continues to redefine luxury standards. The New 117 exemplifies our dedication to innovation, sustainability, and providing unmatched experiences for our esteemed clientele.”The largest builder in North America, Westport was founded in 1964. Westport Yachts has built and launched a wide variety of vessels, from commercial fishing boats and fast passenger ferries to luxurious motor yachts. Today Westport builds composite motor yachts.Credits: Westport
November 19, 2024
The 16th edition of the RORC Caribbean 600 approaches, set to kick off on February 24, 2025, from the stunning shores of Antigua. Early entries in the competitive IRC Zero class promise a thrilling showdown between some of the world's most advanced offshore racing yachts. Before the iconic '600, the RORC Nelson’s Cup Series is back for its third edition, now standing as a premier event featuring an enticing mix of maxi yachts and local Corinthian teams.In the 2024 Caribbean 600, Niklas Zennström’s Carkeek 52, Rán (SWE), snatched victory after a nail-biting nearly 63 hours of racing. The talented crew overcame intense competition to win the IRC Zero Class by a mere three minutes following time corrections. This narrow triumph not only secured Rán a spot as second overall but also set high expectations for the upcoming race. Team Rán’s Tim Powell expressed his awareness of the challenges that lie ahead:“The competition is fierce, and many teams are eager to topple us. We’ve got a target on our back. Rán will compete in the Nelson’s Cup Series to refine our skills before the Caribbean 600,” Powell stated, emphasizing the importance of pre-race preparation. He also highlighted ongoing development: “These boats continuously evolve, particularly in sail design, and we’re confident but always looking to make those critical adjustments.”The team boasts Olympian and America’s Cup sailor Andy Hemmings, who adds invaluable experience to the lineup alongside promising talents like Bex Gmuer Hornell from New Zealand and newbie Will Williamson from Southampton.The competition promises to be fierce in IRC Zero, especially with Jon Desmond's new PAC52, Final Final (USA), joining the fray, particularly noteworthy for its impressive track record, including victories in the RORC Transatlantic Race and the Rolex Middle Sea Race. Desmond comments on his transition to the new boat: “With a larger, faster yacht, we anticipate a stronger showing in the 600—and potentially a fresh strategy as we navigate challenging waters.”Alongside Rán, another formidable entry is Andrew Berdon’s TP52, Summer Storm (USA), formerly known as Outsider, returning to the Caribbean with a fresh set of sails. Experienced Canadian sailor Richard Clarke is among the crew, who reflected on the unpredictable nature of the race: “It may seem straightforward with trade winds, but this race always surprises, making weather strategies crucial.”Complementing the offshore racing, the RORC Nelson’s Cup Series presents a fantastic opportunity for sailors not competing in the Caribbean 600 to participate in exhilarating inshore races, including the 360° Round Antigua Race. The series welcomes all IRC-rated boats and aims to celebrate Caribbean racing culture while fostering camaraderie among local and international crews.With low entry fees and relaxed social events at Antigua Yacht Club, the Nelson’s Cup Series sets the stage for exceptional racing and an unforgettable experience for all participants ahead of the highly anticipated RORC Caribbean 600.Credit: Royal Ocean Racing Club
November 19, 2024