In a surprisingly frank acknowledgement of the impact on yachting of the ongoing worldwide economic troubles, Fraser Yachts CEO Hein Velema wrote in his company’s July/August newsletter:
“2012 is turning into a turbulent year with a dramatic decrease in the number of yachts sold in recent months. The charter market is still relatively slow for the peak season with lots of clients demanding discounts before they commit. In Yacht Management, new fiscal regulations are causing further problems in Italy where it is expected to be a very quiet season.”
The newsletter went on to report:
“While 2012 started well for sales with the number of yachts sold ahead of the previous two years, recent months have shown a dramatic drop. The number of brokerage yachts (over 24 meters) sold in May this year was nearly half what it was for the same period last year (20 and 37 respectively) and in June it fell even further.
“The market is still very uncertain and unpredictable with potential buyers appearing to hold off instead of purchasing a yacht in time for the summer season, probably because of the uncertainties in the EU region and the U.S. elections.”
For more information, visit fraseryachts.com.