Monaco Yacht Show

I went to the Monaco Yacht Show with an open mind about where Anthony Austin Yachts could be most useful. I came away with a clearer idea, although it was shaped as much by conversations on the sidelines as by anything I saw on board.

Pricing came up several times. The view I heard was that some second-hand yachts are still being offered at prices shaped by the Covid market, while buyers are now taking a different view of value. An owner may have paid a great deal for a yacht and have every reason to hope for a particular return. That does not tell us what a buyer will pay today. It is a difficult conversation, and one that becomes more difficult the longer it is deferred.

I also heard frustration from people working around the purchase and ownership process. Their concern was that buyers and sellers are sometimes spared uncomfortable truths about a yacht, the likely costs of ownership, or the risks that will need managing. I met people who clearly care about doing the job well. But what I kept thinking about was: who makes sure the client has understood the practical consequences of the decision they are being asked to make?

At one forum, the discussion turned to how many people have the means to buy a superyacht but choose not to. My mind went for a walk, thinking about the amount of work we ask a buyer to take on. A purchase can involve brokers, managers, bankers, surveyors, lawyers, insurers, flag administrations, classification societies and others. Each has a job to do, the buyer still has to absorb the advice, make decisions at the right time and keep the whole process moving alongside everything else in their life.

That is where I need to make my own offer clearer.

My work can begin with the intended use of the yacht and the decisions that follow from it. I can narrow the field using operational experience, examine the practical implications of a yacht's layout, systems and technical drawings, and identify the questions that need answers before a client commits further. Where legislation, flag requirements or customs enter the picture, I can help the client understand what needs attention and coordinate the right specialist advice.

With an agreed scope and authority, I can also take on much of the work of moving a purchase forward: keeping track of actions, bringing the relevant people into a discussion when needed, following up on unresolved points and reporting back to the client at sensible intervals. The client and their team should be able to see what has been established, what remains uncertain and which decisions require their attention. They should not have to become the switchboard for every routine question.

The outcome may be a purchase that proceeds with greater confidence. It may be a revised offer, a change to the plan, a different yacht, or a decision to wait. I cannot promise that every issue will have an easy answer. I can help make sure the important ones are raised early enough for the client to act on them.

Monaco Yacht Show helped me see that there may be a useful working relationship here with brokers as well. I will be at the Fort Lauderdale International Boat Show and would welcome conversations with brokers about the points where purchases lose their spark, where clients hesitate, and which complaints appear regularly after delivery. I want to understand those problems properly and see where independent operational advice and steady coordination could improve the experience for their clients. If that helps more people feel comfortable entering the market, it is a conversation worth having, for all of us.

Talk it through

If any of this sounds like your situation, we are glad to talk it through. A first conversation is private, free and without obligation.

Arrange a private meeting

This article is general commentary. It is not legal, tax, financial or investment advice.