The Asia-Pacific yacht brokerage market continues to flourish, bolstered by increasing wealth in the region, a growing passion for the yachting lifestyle, world-class cruising grounds and a wide selection of good brokerage deals available on the market.

Within this arena, through our insistence on transactional ethics and help for clients to navigate their selection, purchase and aftersales needs, Simpson Marine has emerged as a leading regional brokerage in yacht sales. A closer look at the state of the market, from my point of view, follows.

REGIONAL APPETITE INCREASES FOR PRE-OWNED YACHTS

The APAC region has seen exponential growth in yachting over the last decade, particularly with the exceptional demand during the pandemic years. Countries like Thailand, Indonesia and the Philippines offer stunning cruising destinations.

At the same time, markets like Hong Kong and Singapore continue to serve as key hubs for new yacht ownership and brokerage for both in-region purchases and outbound to the Middle East, Turkey and the West Mediterranean.

Demand for premium yachts, particularly in the 60-100ft range, remains robust, catering to affluent individuals keen to embrace the ocean-going lifestyle. Larger superyachts are also gaining traction, especially for Chinese customers buying for berths abroad, and in Australia where we have just opened our Sydney office.

Growing numbers of ultra-high-net-worth individuals are entering the APAC market, despite its temporary slowdown overall, because of socio-political conditions.

Alongside these promising trends, buyers and sellers face challenges such as regulatory differences across jurisdictions and navigating a highly competitive marketplace. This is where regional expertise from a brokerage becomes invaluable for potential brokerage buyers.

A BROKERAGE WITH A TRACK RECORD MAKES FOR CALM CRUISING

It instils confidence in potential owners of pre-owned yachts and in brokers serving them to know that a brokerage is constantly keeping up to date with the ever-evolving processes across buying and selling, and yacht ownership in markets within a region.

With 40 years of experience in the Asian market, spanning Japan to Indonesia and down to Australia, Simpson Marine has facilitated over 3,500 successful transactions across the APAC region. From Hong Kong to Singapore, and extending to burgeoning markets like Vietnam and Malaysia, the company’s extensive network and in-depth localised knowledge give us an advantage.

Recent standout brokerage sales include luxury motoryachts from renowned shipyards like Sanlorenzo, Riva, Majesty and Benetti, to mention a few.

In addition, Simpson Marine’s status as the regional brand representative of Sanlorenzo allows us to offer a curated selection of vessels from the shipyard that have been originally sold and cared for by our team, and hence their condition is well maintained and extremely attractive for sale on the brokerage market.

As Simpson Marine now has offices in 13 key APAC locations, we formulate a well-segmented and curated database of customers, with a large pool of buyers and sellers ensuring optimal exposure for every yacht listed.

BROKERAGE SALES AND BUYER PURCHASES RELY ON FIRM FOUNDATIONS

In the brokerage field, comprehensive marketing is essential and should use – as ours does – a mix of traditional and digital strategies, including tailored campaigns, professional photography, videos and virtual tours, as well as B2B2C in-person open days to showcase yachts at their best.

Technical expertise is also vital with brokerage yachts. In-house expert service teams should offer technical assessments and maintenance support, ensuring all listed yachts meet the highest standards of readiness, and post-survey remedies are carried out professionally and efficiently.

Years of excellence in brokerage sales have earned Simpson Marine a trusted reputation for transparency, professionalism, results-driven service, and for being capable to handling complex high-value deals, including via cryptocurrency transactions.

Buying must be made straightforward, to help simplify the complexities of yacht acquisition. It should be part of the whole service at a brokerage to offer everything from expert guidance on selecting the perfect yacht to assistance with financing, insurance and registration. A brokerage should ensure a seamless process.

At Simpson Marine, it helps that as well as offering this complete range of services, our extensive brokerage portfolio includes everything from sleek motoryachts to family-friendly catamarans and expedition vessels for the adventurous.

POPULAR YACHTS AND DESTINATIONS

Currently, some of the most tempting yachts that Simpson Marine offers in the APAC region include:

A 2019 Sanlorenzo SX76, lying in Hong Kong. Designed by Studio Zuccon International, with an interior by famous Italian designer Piero Lissoni, the SX76 is a crossover model that sits between a traditional classic flybridge and explorer yacht, packaged into a distinctive silhouette.

Also in Hong Kong, a 2023 Lagoon Sixty 7, a 20.15m powercat with a massive 10m beam. The yacht offers great comfort, panoramic views, four en-suite cabins and vast living spaces inside and out for rest and privacy.

A standout in Phuket is a 2023 custom-built Seacrest Marine 52m, called Vanora, a yacht where sophistication meets adventure. Its aluminium hull and build meet the high standards of Lloyd’s Register.

Outbound yacht sales frequently venture to renowned cruising grounds. These include the East Mediterranean, particularly hotspots like Turkey – a very popular destination in the past 12 months – Montenegro and Greece. The Maldives is a haven for those seeking turquoise waters and pristine atolls, and is a convenient cruising location between Asia and the Middle East.

The Middle East itself has become a very active market, with its local governments supporting and facilitating their regulations to attract more yachts to visit and stay in the region. World-class facilities, simple and transparent regulations, with no tax on yachting and a convenient location make the Middle East an attractive winter destination for Mediterranean-based superyachts.

For buyers looking to keep their yachts closer to home, destinations like Phuket in Thailand, Langkawi in Malaysia, and Indonesia’s Raja Ampat islands offer unparalleled experiences here in the APAC region.

TAKING CARE OF YOUR YACHT

Purchasing a second-hand yacht is no small undertaking, and we as yacht brokers must support and advise our clients to the best of our ability. After over eight years working for Simpson Marine in Hong Kong, I’d like to share some of my thoughts and advice to yacht owners regarding selling their yachts.

If you take care of your yacht, it will take care of you in return. We sometimes see owners trying to cut corners when it comes to crewing levels and ongoing care and maintenance of the vessel. Since yachts in Asia often have low engine hours, some owners think this means they can retain a smaller team to take care of the yacht, and maybe defer servicing engines, a generator, and other aspects aboard the yacht.

Compound these practices over a few years, and a toll is taken on the overall condition and presentation of the vessel – both above and below the surface. First impressions are valuable. When knowledgeable yacht brokers and their clients visit a yacht, often flying a long way to do so, it’s easy for them to see if the yacht has been well cared for or not.

The world has a bountiful supply of second-hand yachts in all shapes and sizes. If your yacht does not meet a potential buyer’s standards, chances are they will make a lower-than-expected offer on yours, or simply move on and find a better yacht elsewhere.

MARKET TRENDS AND PRICING

Yachts in Asia tend to be high-specification and have relatively low engine hours, making them desirable on the global market. As a result, we have seen a recent influx of interest from overseas clients and brokers, mainly from Europe and Turkey. Sales have been active in these markets, with motivated buyers looking to Asia to find high-quality yachts with motivated sellers.

For Asia-based sellers keen to agree a deal, when considering pricing it’s worth mentioning two key costs that a buyer in Europe or Turkey must bear. The first is transport – usually around US$100,000-$200,000 depending on the yacht’s size – and the second is VAT of up to 20 per cent. As a result, offers may seem low, but they are just factoring in the total cost of transport and the admin needed to establish new ownership.

It is always tempting to wait for a better offer, but I advise sellers to accept the first solid offer. Six months down the road, a better offer may be submitted, but that must be balanced against a further six months of incurred ownership costs.

BROKERAGE FUTURE IN APAC LOOKS BRIGHT

I’m pleased to see vibrant inbound and outbound markets across the APAC region, and that we at Simpson Marine continue to inspire confidence among yachting enthusiasts. If you’re considering entering the yachting world or are ready to upgrade your vessel, trust us to guide you on this exciting journey – you know where to find us.

simpsonmarine.com

TOM ALLEN

Allen, Simpson Marine’s Head of Sales for Hong Kong, joined the company in 2016. Born in London, his childhood included time on the northeast US coast of Maine, sailing dinghies and small keelboats. After university, working in coastal cities around the US, time off was spent sailing, fishing and power-boating. In Hong Kong, he enjoys time off on the water, exploring on his Highfield RIB.

This article was first seen on yachtstyle.co.

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