Established in 1907 by George Abeking and Henry Rasmussen, the Lemwerder-based shipyard Abeking & Rasmussen initially specialised in sailing yachts and minesweepers. The first motor yacht ever built by the German shipyard was the 36.5-metre Kalamoun delivered in 1972. At the time, Kalamoun was the fastest motor yacht in the world. In total, Abeking and Rasmussen have built 35 motor yachts over 30 metres. These yachts have a total length of 2,029 metres, an average length of 58 metres and an average volume of 1,190 gross tons (GT). In the past ten years, the shipyard has completed a total of 11 motor yachts.
Photo: Bruno Buisson / SuperYacht TimesUsed Market
Of the 34 30-metre plus Abeking & Rasmussen motor yachts in operation, eight of them are currently listed as yachts for sale, which represents 23.5% of the Abeking & Rasmussen motor yacht fleet in operation over 30 metres. In comparison, the share of motor yachts for sale in the global motor yacht fleet over 30 metres is 22.8%. The total combined length of the Abeking & Rasmussen motor yachts for sale is 459 metres with an average length of 57.4 metres and an average volume of 1,066GT.
The average price of a used Abeking & Rasmussen motor yacht for sale on the market right now is €43.9 million. Their price per GT works out to €41,000 per GT. If we only look at the Abeking & Rasmussen motor yachts for sale that have been built since 2010, which are a total of two units, the asking price per GT comes to an average of €50,000 per GT.
On average, Abeking & Rasmussen yachts for sale have been on the market for 833 days. The average age of these current yachts for sale is 18 years. The most recent Abeking & Rasmussen yacht for sale is the 82-metre Secret delivered in 2013, while the oldest is 45-metre Kriss from 1974.
How do these Abeking & Rasmussen yachts for sale shape up compared to the reference group of steel-hulled motor yachts for sale between 40 and 90 metres? Abeking & Rasmussen yachts for sale are bigger than the market average which is 53.2 metres per unit with an average gross tonnage of 788GT. The average asking price of used Abeking & Rasmussen motor yachts for sale is also much higher than the reference group's average of €22.7 million per yacht or €29,000 per GT. In terms of days on market, used Abeking & Rasmussen motor yachts for sale have been on the market a little longer than the reference group, at 833 days versus 863 days.
Comparison with other builders
How do used Abeking & Rasmussen yachts for sale compare with similar used yachts for sale from a selection of other well-known yards also building steel-hulled motor yachts with a length of between 40 and 90 metres?
- There are currently ten Amels yachts for sale made by the Dutch yard. Their average asking price is €36 million with an average asking price of €37,000 per GT and an average of 371 days spent on the market so far.
- Staying in the Netherlands with the superyacht builder Feadship, there are currently 23 used Feadship yachts for sale with an average asking price of €25.7 million which gives an average asking price of €36,000 per GT. On average, these yachts have spent 494 days on the market.
- Having a look at German competitor Nobiskrug, there are only two Nobiskrug yachts for sale. They have an average asking price of €48.8 million with an average asking price of €33,000 per GT. On average, they have been on the market for 2,104 days.
- A good market overview would not be complete without including an Italian builder. Codecasa currently has six used Codecasa yachts for sale in the reference category. They have an average asking price of €19 million per yacht or €23,000 per GT. On average, these yachts have spent 793 days on the market so far.
- Finally, we look at Turkish builder, Turquoise Yachts, of which there are currently eight used steel-hulled motor yachts between 40 and 90 metres for sale. These Turquoise yachts for sale have an average asking price of €17.5 million per yacht or €22,000 per GT. Their average of days spent on the market so far stands at 1,114.
Photo: SuperYacht TimesNew yachts coming on the market per year
In the last two years and a half, between one and three used 30-meters plus yachts built by Abeking & Rasmussen came on the market per quarter. The third quarter of 2018 saw the highest number of used Abeking & Rasmussen yachts for sale listed on the market with three units. For the two first quarters of 2019, only one yacht has been listed.
Photo: Julien Hubert / SuperYacht TimesYachts sold
In the past two years and a half, a total of three used 30-metre plus Abeking & Rasmussen yachts were sold. If we would also take into account July 2019, Eminence is the most recent sale within the Abeking & Rasmussen used fleet.
Photo: SuperYacht TimesIf we look at the used Abeking & Rasmussen yachts for sale sold in the last two years and a half, then they were on the market for an average of 253 days. For the total used fleet sold in the last two years and a half, this average stood at 643 days.
The three listed Abeking & Rasmussen yachts for sale sold in the last two years and a half represented a total value of €200 million in terms of final asking prices. Their average last asking price was €99.3 million per yacht or €49,260 per GT. The largest Abeking & Rasmussen yacht sold in this time period was the 81-metre Kibo, now known as Grace, sold in November 2018, which was also the highest valued Abeking & Rasmussen yacht to be sold, with a final asking price of €129,000,000.
The five largest Abeking & Rasmussen yachts for sale right now are:
Secret - 82.48m - 2240GT - 2013 - €119,000,000 (€53k per GT)
Elysian - 60m - 1090GT - 2009 - €42,500,000 (€38k per GT)
Lady Sheridan - 57.9m - 1099GT - 2007 - €35,282,000 (€32k per GT)
Amore Mio II - 52m - 887GT - 1997 - €25,750,000 (€29k per GT)
Silver Cloud - 41m - 498GT - 2008 - $19,975,000 ($40k per GT)
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