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Market Watch: Irina Blagodyr from Bluewater

Market
Written by
Georgia Tindale

This month, SuperYacht Times is interviewing a range of industry leaders in the brokerage sector to find out their views on the 2018 superyacht market. Today we hear from Irina Blagodyr, the head of Bluewater Russia. Bluewater had a good year in 2018, particularly during the month of May, when they completed the sales of both the 49-metre Asteria and the 50-metre Mosaique. However, May was not their only successful month of last year, as the sales of the 36.6-metre Giorgia in July and a Custom Line Navetta 33, also in July followed afterwards. With her experience in the Russian yachting market, Blagodyr provides a unique perspective on the market of 2018 and for what is to come in 2019.

Irina Blagodyr

In 2017, 284 30+ metre used yachts were sold. Similarly, in 2018, around 280 (to be confirmed) used yachts were sold. How does your sentiment of the market compare? Do you see that the market is stable or growing?

Stable. I believe the market may move up and down by 5 to 10 percent, but year-by-year a similar number of yachts will be sold.

Giorgia at anchor near Port GallicePhoto: Bruno BuissonHave you seen a shift in clients in the past year? For example, in nationality, age, gender or occupation - or any other observations you have noticed.

The same sort of clients exist. Generally, they are from Eastern and Western Europe and the Americas. We are seeing fewer customers from the Far East.Tania T in CannesPhoto: Merijn de Waard / SuperYacht TimesWhat is your view on the pricing of yachts? Are there fewer reductions in price or are yachts sold closer to their asking prices?

In our experience yachts offering discounts will experience sales faster than yachts holding out for prices close to the asking price.

Muse motor yacht in MonacoPhoto: David ArdronDo you see a particular market that is very popular right now? For example, yachts of a certain size, certain builder or age?

Yachts built after 2010 are much more likely to be sold quicker than older vessels. The sweet spot range for current buyers is 30 - 50-metres. Yachts that are well-priced and attractive to the charter market are yachts we are focusing on at Bluewater.

Mosaique profile What are your expectations and predictions for the superyacht market in 2019? What are you looking forward to?

The world will experience a correction, not as bad as 2007 and 2008, but a correction nevertheless. At Bluewater Russia we are ready for this correction and we will assist our clients with all of their yachting needs throughout this tricky upcoming period.

About SuperYacht Times 

SuperYacht Times is the only website with an overview of all yachts for sale. Currently, we have more than 1,600 yachts over 24-metres listed on our website.

In addition, our market intelligence system SuperYacht Times iQ gives full details of each yacht, including historical pricing information, days on the market, past sales, refit information, ownership and much more.

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