Understanding yacht prices worldwide and English yacht builder FAIRLINE changes ownership and reduces staff.
In December, the FAIRLINE Group was sold to a new group called Arrowbolt, a company owned by the Ahmed family. This family previously held shares in Fairline.
Following the announcement of the acquisition (Dec. 3), the new owner fired over 200 employees (made on Dec. 19). That’s more than 25% of his employees. He also announced that he would be absent from the DOSSELDORF BOAT SHOW, despite it being the world’s largest indoor boat show.
The new administration’s new direction is to build clean, sustainable boats. But the strength of the pound sterling means that this brand’s boats are more expensive to manufacture, and therefore end up selling for higher prices. In fact, the euro and the US dollar favor competitors.
At the time of writing, the value of our Canadian currency (Jan. 3, 2025):
$ 1 CAD = $ 0.69 USD
€ 0.67 euro
£ 0.56 pound sterling
So the cost of a new yacht to a Canadian dealer is lower if it’s American-made, and there’s no Europe-to-America shipping. It costs around $50,000 USD for a 50-foot yacht, and that’s a minimum.
The main yacht builders in England:
– Princess yachts (major builder)
– Sunseeker yachts (major builder)
– Fairline
– Sealine
The challenge for Fairline is to boost sales figures after a sharp decline in 2024. The order book currently stands at around 90 boats. Since 2022, losses for this group have been rising steadily, from £20.7 million in 2022 to over £27.5 million in 2023.
What will 2025 be like? It’s very difficult to predict the market over the next year and the next 5 years.
The main builders in Europe (excluding England) in the 80′ and under segment:
– Azimut Yachts
– Ferretti Group (Ferretti, Pershing, Riva, Wally, Itama)
– Absolute Yachts
– Prestige, Beneteau, Jeanneau, Lagoon
– Galeon
– Sunreef
– Bluegame (by Sanlorenzo)
North America’s leading builders of yachts over 50 ft:
– Cruisers Yachts
– Tiara
– HCB
– Sabre
– Westport
– Hatteras
There is, however, one currency that favors us: Australian currency. That’s right,
$1 CAD is worth $1.12 AUS.
What’s more, Canada has a free-trade agreement with Australia, so if the boat comes directly from Australia (to Canada), there are no customs duties. The major builders in Australia are RIVIERA, BELIZE (by Riviera) and MARITIMO, but of course there are freight charges.
The recent (2024 and 2023) and especially very recent (less than 5 years) second-hand market will certainly become an increasingly attractive prospect for yachtsmen looking for a new boat.
Let’s not forget how model-year allocation works in the boating world. A yacht leaving the factory in May and/or June carries the model year of the following year. So a 2023 was certainly sold as early as May 2022. Some manufacturers may also put the following year on a yacht delivered to a dealer as early as March or May. There are no specific regulations in the yachting industry for this.
The brokers at Ita Yachts Canada and its ProprioBateau division are at your disposal to assist you in your search and, of course, to carry out a secure transaction that includes thorough inspections.
Of course, we are fully aware of the tax implications of each acquisition, which can mean significant savings depending on where the boat is sailed and where it comes from (Canada, USA, Caribbean, Europe (EEC), England, Turkey, Taiwan, Australia, China).
Some Fairline :
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