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SYT iQ: Oceanco's performance on the used yacht sales market

Market
Written by
Aurélien Herman

Business first began for the Dutch shipyard Oceanco in 1987 and ever since, the shipyard has specialised in the construction of custom full displacement yachts. In 2002, the Alblasserdam-based superyacht builder Oceanco entered the niche market of 80-metre plus yachts and developed the “Y Generation” Oceanco yachts. To date, the biggest Oceanco yacht delivered by the shipyard is the 110-metre Jubilee from 2017. 

Since its inception, Oceanco has built 33 yachts over 30-metres according to our database: 31 motor yachts and two sailing yachts. These Oceanco yachts have a combined total length of 2,482 metres, an average length of 75.2 metres and an average volume of 1,975 gross tonnes (GT). In the past ten years, the shipyard has completed a total of 14 superyachts.Jubilee motor yacht by OceancoPhoto: BurgessUsed Market

Of the 33 30-metre plus Oceanco yachts in operation, six motor yachts are currently available as yachts for sale, representing 18.2% of the Oceanco fleet in operation. These Oceanco yachts for sale have lengths between 49.4 and 88.5 metres. Looking at the entire fleet of motor yachts between 49 and 90 metres, 21.6% of them are listed as yachts for sale, so a slightly higher share compared to Oceanco yachts for sale. The total length of the Oceanco yachts for sale is 393 metres with an average length of 65.4 metres and an average volume of 1,567 GT.

The average price of a yacht on the used Oceanco yacht for sale market right now is €64.4 million or €41,000 per GT. If we only focus on the four Oceanco yachts for sale that were completed since 2000, the asking price per GT comes to an average of €44,000.

On average, Oceanco yachts for sale have been on the market for 325 days. Fifteen years is the average age of these Oceanco yachts for sale. The most recent Oceanco yacht for sale is Barbara delivered in 2017, while the oldest one is Anna J from 1995.

How do the numbers for these yachts for sale compare to similar yachts for sale built by other yards? On average, Oceanco yachts for sale are larger compared to the market for similar motor yachts for sale in the 49-90-metre size range. The average length is 58.3 metres per unit with an average gross tonnage of 957GT. The average asking price for used Oceanco yacht for sale is also significantly higher than the average for the 49-90-metre size range. The average used Oceanco yacht for sale is listed for €64.4 million or €41,000 per GT - however - the 50-90-metres size range market is almost twice the average with an average asking price of €30.4 million per yacht or €32,000 per GT. In terms of average days on market, used Oceanco yachts for sale have been listed for less time than the average similar-sized motor yacht for sale, at 326 days versus 893 days for the total fleet of comparable used motor yachts for sale.Barbara by OceancoPhoto: OceancoComparison with other yacht builders

How do used Oceanco yachts for sale built from 2000 onwards compare with similar used yachts for sale from a selection of other well-known yards also building motor yachts with a length of between 50 and 90 metres?

A direct competitor of Oceanco is the German shipyard Abeking & Rasmussen. There are four used Abeking & Rasmussen yachts for sale in this category. They have an average asking price of €74.1 million per yacht, an average volume of 1,634GT and an average asking price per GT of €45,000. These Abeking & Rasmussen yachts for sale have been on the market for an average of 1,025 days.

In the same category, buyers can choose from seven used Benetti yachts for sale. Their average asking price per yacht is €24.6 million with an average volume of 925GT and an average asking price per GT of €27,000. These Benetti yachts for sale have been on the market for 716 days on average.

Going back to Northern European shipyards, the Dutch shipyard Feadship is also active in this market segment with eight used Feadship yachts for sale. These eight used Feadship yachts for sale built from 2000 onwards have an average asking price is €49.5 million at an average volume of 1,168GT. Their average asking price per GT is €42,000 and they have been on the market for an average of 403 days.

Staying in the Netherlands with steel-hulled motor yachts, we take a look at used Amels yachts for sale in the 50-90-metre size range. In this category, there are currently nine used Amels yachts for sale built from 2000 onwards. They have an average asking price of €50.3 million, an average volume of 1,080GT and an average asking price per GT of €47,000. On average, Amels yachts for sale have been on the market for 283 days.

Oceanco used Market Review Photo: SuperYacht TimesNew yachts coming on the market per year

In the last two and a half years, up to three used yachts over 30 metres built by Oceanco came on the market per quarter for a total of ten yachts put on the market during that period of time. The second quarter of 2019 saw the highest number of used Oceanco yachts for sale come on the market with three units.

Oceanco used Market Review Photo: SuperYacht TimesThe most recent Oceanco yacht for sale to be listed was the 49-metre Anna J, which came on the market in late April 2019. Sunrays yacht cruisingPhoto: GJ ScholeyYachts sold 

In the past two and a half years, a total of eight used Oceanco yachts for sale were sold. For 2017 and 2018 combined it is a total of seven used Oceanco yachts sold. So far for 2019, only one used Oceanco yacht sale has been reported, the 91.5-metre Equanimity, since renamed Tranquility, sold in April 2019.Oceanco used Market Review Photo: SuperYacht TimesIf we look at the used Oceanco yachts sold in the last two and a half years, then they were on the market for an average of 989 days. For the total used fleet sold in this time period in the size range of 40-110 metres, this average stood at 768 days.

The eight Oceanco yachts sold in the last two and a half years represented a total value of €590 million in terms of final asking prices. Their average last asking price was €73.3 million per yacht or €29,480 per GT. The largest Oceanco yacht sold in this time period was the 110-metre Jubilee, sold in November 2018, which was also the highest valued Oceanco yacht to be sold, with a final asking price of €275,000,000. 

Oceanco superyacht EquanimityPhoto: BurgessTop 5 Oceanco Yachts for Sale

The five largest Oceanco yachts for sale right now are:

Barbara – 88.5m - 2,984GT - 2017 - P.O.A.

 Sunrays – 85.47m - 2,867GT - 2000 - €129,000,000 (€44k per GT)

 Luna B - 66.0m - 1,801GT - 2005 - €54,500,000 (€30k per GT)

 Sunrise – 51.9m - 638GT - 2000 - €17,500,000 (€27k per GT)

 Lazy Z – 51.4m - 638GT - 1997 - $15,900,000 ($25k per GT)

SuperYacht Times iQ is our live market intelligence system and our subscribers have live access to all this data and intelligence, as well as much more insight. If you are interested in a demonstration, then please contact us. Besides the online intelligence system, the new market report The State of Yachting 2019 is available for purchase.

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