30 Sep 2016
€11.3 million of price reductions at Y.CO
Y.CO has announced several strategic price reductions during the Monaco Yacht Show to entice activity on its listings.
"It's a good message to go into a boat show with new prices", begins Charlie Birkett, Co-Founder and CEO of Y.CO. "You have to have a plan right from the start with these listings. If there's interest in the vessel, it comes to light in the first three or four months of the listing - after that you must make a calculated decision as to whether you hold your price or reduce it, but you get maximum impact from boat shows if you're active."
Commenting on the apparent pricing warfare between the Feadship's 46.6m Kiss (2015), now €29.5 million, and 42m Lady May (2014), listed with Edmiston at €31 million, Birkett says "they are a similar size but very different boats. Lady May's climate controlled sun deck is truly breathtaking and Kiss has a beautiful interior. All yachts have different selling points but ultimately both yachts are priced to sell and great deals to the right buyers."
The price reductions are as follows:
- €5.45 million reduction on 46.6m Kiss to €29.5 million.
- €3 million reduction on 58.6m Capri to €24.95 million.
- €1.05 million reduction on 41.3m Alejandra to €6.95 million (VAT paid).
- €1.8 million reduction on 39m Cinderella IV to €8.95 million (VAT paid).
Cecil Wright & Partners is now utilising a laser scanning system to allow potential buyers to walk-through a yacht while mobile. More
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