Superyacht Investor 2018 Live
81% of delegates do not think you can make money by owning superyachts and chartering them out.
“If investors want in, do what you think investors will buy, then build it” – Anthony Moore, Momentum Superyacht Group
63% of delegates think that superyacht companies have not floated because they are too small.
“We have a new wave of young owners coming in but we are marketing to a very small niche” – Kiran Haslam, Princess Yachts
“There are family investors that want to invest in superyachts, not as a pet project but as a serious investment”
If delegates had to invest in a part of the market, 36% of them would invest in shipyards.
“The market will get bigger, it will consolidate and there will be more investment vehicles in the superyacht market in the years to come.”
“Yachts are eating more and more into the hospitality and leisure industries” – Anthony Moore, Momentum Superyacht Group
We are welcoming Kiran Haslam of Princess Yachts, Paul Fleming of Fleming Private Office, and Anthony Moore of Momentum Superyacht Group.
“People are definitely tired of the usual destinations, they are looking for adventure.”
“If you have a boat over 25 metres with full crew, you should not have a hurricane clause in your insurance contract.”
We are now moving onto how to protect yachts from natural disaster on our next panel “When bad things happen to good yachts”
Both speakers agree that the tax reform will boost the US yacht market.
“If there was a Trump bump, it was pretty small” – Bob Denison, Denison Yachting
We are back from the break to talk about the US and what Europe companies could learn from the market.
We are now breaking for morning coffee. We will return in half an hour with our next session: “Is the US driving the global market?”
“I would not rule out a turnaround in China’s attitude towards yachts. We could see them warming to superyachts in the near future.”
The areas with the highest growth in billionaires have the smallest interest in boating
We are now welcoming Vincent White from @WealthX to the stage to talk about the rise of new billionaires and how it relates to superyacht sales
We are in a very conservative industry, but this could change as the average buyer gets younger.
We are back with day two of Superyacht Investor London 2018. We are welcoming Jay Tooker from HFW back to the stage to moderate a panel on building yachts in 2018.
85% of delegates think that 2018 will be a strong year for refit.
Jim Acher from Bluewater is moderating the next panel on the refit market.
We are now breaking for afternoon tea hosted by HFW. We will be back at 4pm for a panel discussion about the refit market.
45% of delegates think that 2018 is looking like a record year for charter
“We are surprised about how much exposure we are getting through social media”
More and more business is coming from referrals
It is a busy start to 2018 all round! Tim Clarke of MySea has also never seen a busier January.
“I have never seen such a busy January” Geoff Moore, West Nautical
Next up we have our session ‘yacht charter and the sharing economy’, moderated by Anthony Galea from Vistra Marin & Aviation.
“Fractional ownership is not the enemy of the traditional yacht market”
Floating Life was not affected by the financial crisis. When the fractional owners were not using the boat during the period, they chartered the boat out to cover costs.
People are crowding in after lunch for our next panel ‘The future is fractional’. We are welcoming Andrea Pezzini and Barbara Tambani from Floating Life to the stage to talk about why now is the time for fractional yacht ownership.
The tone so far at Superyacht Investor 2018 has been fairly positive. People are confident going into 2018 and many are expecting inquiries to climb.
One of the biggest talking points was whether a standardised form should be introduced for new builds. The room was split on the idea, with 57% agreeing the standard form was a good idea and 43% disagreeing.
The audience engagement has stood out so far. Delegates have been bombarding every speaker with questions which they have been more than happy to answer.
Now we are welcoming Andrea Pezzini and Barbara Tambani from Floating life to the stage to discuss fractional ownership.
Thank you Louise! We are now breaking for a lovely lunch hosted by Vistra Group.
“The adventure of submersibles is appealing to yacht owners, they want to be trailblazers” – Louise Harrison, Triton Submarines
Submersibles are a good investment, with second hand subs selling for almost the same price.
The submersible market is growing, with sales doubling from what they were two years ago.
We are now welcoming Louise Harrison to the stage to talk about all things submersible #SYIlive
“Every time a yacht owner is done wrong, they tell their friends. Everyone in the industry needs to be transparent.”
“It is a team effort between the captain and the management company” – Richard Masters, Master Yachts
You wouldn’t let you child ride in the car without a seatbelt, so why let them ride in a yacht that is not managed?
We are back from the break and ready to talk management.
Thanks to Jay Tooker, Tony Allen, and Andrew Charlier for an interesting discussion on how to make the yacht buying process simpler. We are now breaking for morning coffee courtesy of @hfw_law #SYIlive
“MYBA is not a perfect document but it works because everyone understands it”- Jay Tooker, HFW.
Delegates are split on whether there should be a standard new build contract. 57% think there should be, 43% disagree.
“It helps to have lawyers on both side of the yacht deal” – Tony Allen, Hill Dickinson
“The owner needs to do two things, make payments on time and make decisions on time”
Our speakers think that yachts deals are too diverse for the industry to adopt a standard contract for new builds #SYIlive
Thanks to our first speakers, we are now welcoming Tony Allen, Andrew Charlier, and Jay Tooker to the stage to talk about how to make buying simpler #SYIlive
“Better”,” optimistic”, “positive”, “encouraging” and “buoyant” were the words used to describe the yacht market in 2018 #SYIlive
73% of delegates have seen an increase in US buyers recently.
In Brokerage, is it what you know or who you know? The panel thinks that a perfect balance is needed to be successful.
“In realty, as brokers, we are in a paradise market” – Andrey Lomakin, West Nautical
The panel agrees that the market is not overcrowded, but there are enough players to be competitive.
Yacht design is trending younger, with more toys, tenders, and beach clubs than ever.
Surprisingly, the panel of brokers agree that too many customers are going directly to the shipyards to buy.
Last year, small shipyards increased vessel prices by 15% to 22%
Almost everyone at Superyacht Investor 2018 is positive about 2018. 64% of Delegates are fairly optimistic about the market in 2018 and 32% are very optimistic.
“A lot of new Silicon Valley customers are going straight into bigger yachts” – Jamie Edmiston, Edmiston
The panellists all agree that the Russian market is coming back
“The yachts that are selling right now are the ones that are priced correctly” – Jamie Edmiston, Edmiston
“It is less of a buyers market now than in the past” – Vassilis Fotilas, Fraser
“We saw more requests and enquiries in 2017 and pricing is good going into 2018” – Andrey Lomakin, West Nautical
Early results are in, delegates are “fairly optimistic” about the superyacht market in 2018.
Here you will find live updates on the Superyacht Investor 2018 panels.
You can also follow twitter @SYInvestor to receive live twitter updates.
People are just filing in from breakfast and final registration is closing. The sessions will kick off in twenty minutes with opening remarks from Jay Tooker, Partner at HFW.