Port Hercules was the main focus of attention for YPI, and indeed all brokers and analysts, as the world of private yachting took a deep breath and waited to see just how many quality buyers and sellers would actually turn up for this year’s Monaco Yacht Show with an intention of doing any business at all.
Almost exactly 53 weeks after Lehman Brothers filed for bankruptcy on September 15th 2008, precipitating a global financial crisis that plunged the superyacht brokerage market into a steep decline, the future of private yachting, it seemed, would be told by what happened here in Monaco.
As it turned out, this year’s Show was probably the most upbeat and optimistic of any in the event’s 19-year history. It opened with the very positive announcement of the sale of the 70.5m Amels-launched Boadicea – narrowly missing the Top 3 largest yachts sold this year so far which of course still includes the BRS/YPI sold SILVER – and whilst only one yacht that we know of was actually sold at the Show (the 64.5m 2007 Amels-built MY SHANTI owned by Mrs Shari Arison and purportedly sold for around €70m) everyone was talking about how many good quality prospective buyers were actually in attendance.
“It was a very interesting and very busy Show,” said YPI Group MD Bertrand Vogèle, “I was pleased with the amount of attention our yachts received and the quality of the visits we had on them…as we all know there’s often some way to go between the showing and the signing but the first signs are looking very good…”
YPI Brokerage had four yachts on show this year: the superb Campanella, M.Y. MARY-JEAN; the classic Royal Huisman S.Y WILLIAM TAI; the much loved M.Y. RAMSES and, featured in the new MYBA Selection (Mediterranean Yacht Brokers Association) further along the coast near St Jean Cap Ferrat, was the elegant M.Y. LEONORA.
Aside from the YPI Super Yacht Owners Summit (see related article), to ensure maximum exposure a deal was struck with The Yacht Report Group to print and design the “2nd YPI Platinum Guide to the MYS” – our pocket guide to all the yachts on display. As well as being available from our stand this was also fixed to the cover of 4,000 editions of the much-read Yacht Report magazine and distributed throughout the Show.
YPI clients enjoyed private chauffeuring with the branded Mercedes S-classe throughout the Show and the YPI ‘McNab’ navette also ensured clients got to where they needed to be on time and in style.
And even now as we write, the positive mind-set seems to be continuing as the sale of a further six super yachts was announced last week. Whether this is a blip or a recovery remains to be seen but there is no doubting the amount of activity out there at present and we are very pleased to say, although we can’t as yet make any official announcement, that YPI is in amongst the contenders for some more great news over the days to come.