VesselsValue to leave superyacht valuation market

VesselsValue is to leave the superyacht valuation market.

Ship valuation and market intelligence company VesselsValue will cease operating in the superyacht space in 2024, the firm has announced.

UK-based VesselsValue, which provides independent data on the marine market, will honour existing subscriptions until their renewal date but will take no further subscriptions from mid-2024.

“We appreciate all that our colleagues, partners and customers have done to turn the superyacht dream into a reality,” said a statement.

“We’ve enjoyed the challenge of valuing such complex, individual vessels, and working with our great customers and partners around the world for the last few years.”

VesselsValue, which was founded in 2011, has 77,000 vessels in its database, including cargo, offshore and superyachts, and employs a staff of more than 220 in nine countries, according to its website.

Its automated database provides valuation and includes a comprehensive searchable record of all asking prices, sale and purchase transactions, new building contracts and refits, in what the company describes as an effort to bring “true transparency to the market”.

“It was a noble cause,” said Sam Tucker, who was head of superyachts at VesselsValue before leaving in June 2022 to join Moravia Yachting as a broker.

Tucker describes the superyacht sector as “somewhat opaque” with sales prices hard to obtain. “VV certainly added significant value for their clients, most of whom were repeat subscribers. For them it will feel like a step backwards,” he added.

VesselsValue was bought in June by Veson Nautical, a maritime freight management group.

After acquisition its aviation product was spun out into AviationValues.