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

Market
Written by
Aurélien Herman

Iconic Italian yacht builder Overmarine, better known under the Mangusta brand name, has delivered 99 yachts over 30 metres since its creation in 1985. Over the past three decades, Overmarine has specialised in producing fast luxury motor yachts to become a leader in its category. In 2016, the shipyard decided to enter the displacement market with the launch of the 43-metres Namaste. Another new step was taken in 2018 with the delivery of El Leon, a full aluminium built fast-displacement yachtThese 99 yachts have a total length of 3,632 metres, an average length of 36.7 metres and an average volume of 239 gross tonnes (GT). In the past ten years, the shipyard has completed a total of 28 motor yachts.

Fatamorgana yacht in Saint-Tropez Photo: Charl van Rooy / SuperYacht TimesUsed Market

There are currently 29 used Mangusta yachts for sale. This represents 29.3% of the Overmarine fleet in operation. This percentage of yachts for sale is higher than the market average for used motor yachts for sale with a GRP hull and a length between 30 and 50 metres, which stands at 23.9%. The total combined length of the used Mangusta yachts for sale is 1,082 metres with an average length of 37.3 metres and an average volume of 252GT.

The average price of a yacht on the used Overmarine yacht market right now is €5.99 million per yacht or €24,000 per GT.  If we just focus on the six used Mangusta yachts for sale built completed from 2010 onwards, the asking price per GT comes to an average of €33,000.

On average, Mangusta yachts for sale have been on the market for 457 days. Thirteen years is the average age of these yachts currently available. The most recent Overmarine yacht for sale is the Mangusta Oceano 46 Q95 delivered in 2018, while the oldest is the Mangusta 100 Alchemist from 1996.

How do the numbers for these yachts for sale compare to similar yachts for sale built by other yards? Overmarine yachts for sale have slightly bigger averages compared to the market for similar yachts. The average length is 35.6 metres per unit and the average gross tonnage is 243. At the same time, the pricing of used yachts for sale competing with Mangusta yachts for sale is slightly higher at an average of €6.1 million per yacht or €25,000 per GT. In terms of average days on market, used Mangusta yachts for sale compare favourably at an average of 457 days versus 741 days for the total fleet of comparable used yachts for sale.

Mangusta Oceano 43/03 yacht off Monaco Photo: Merijn de Waard / SuperYacht TimesComparison with other builders

How do used Overmarine yachts for sale built from 2010 onwards compare with similar used yachts for sale from a selection of other well-known yards also building GRP-hulled motor yachts with a length of between 30 and 50 metres?

There are 16 used Custom Line yachts for sale in this category. They have an average asking price of €8.4 million per yacht, an average volume of 221GT and an average asking price per GT of €38,000. These yachts for sale have been on the market for an average of 398 days.

In the same category, buyers can choose from 18 used Sunseeker yachts for sale. Their average asking price per yacht is €9.3 million with an average volume of 274GT and an average asking price per GT of €34,000. These yachts for sale have been on the market for 573 days on average.

Another Italian brand active in this market segment is Pershing. With five used Pershing yachts for sale built from 2010 onwards, their average asking price is €8.6 million at an average volume of 183GT. Their average asking price per GT is €47,000 and they have been on the market for an average of 1,124 days.

Staying in Italy with GRP-hulled yachts, we take a look at used Azimut yachts for sale in this category. There are currently nine used Azimut yachts for sale built from 2010 onwards. They have an average asking price of €5.5 million, an average volume of 194GT and an average asking price per GT of €28,000. They have been on the market for an average of 512 days.

Overmarine market reviewPhoto: SuperYacht TimesNew yachts coming on the market per year

In the last two years and a half, up to nine used 30-meters plus yachts built by Overmarine came on the market per quarter. The last quarter of 2018 and first quarter of 2019 saw the highest number of used Mangusta yachts for sale on the market with respectively 9 and 8 units. For the two first quarters of 2019, twelve used Mangusta yachts for sale been newly listed.Overmarine market reviewPhoto: SuperYacht TimesThe most recent Overmarine yacht for sale listed was the 49.9-metre Mangusta 165 Samhan, which came on the market in late June 2019. 

Yachts sold 

In the past two and a half years, a total of 19 used 30-metre plus Overmarine built yachts were sold including six of them sold in 2017 and seven in 2018. A total of six used Mangusta yacht sales have been reported during the second quarter of 2019.

Overmarine market reviewPhoto: SuperYacht TimesIf we look at the used Overmarine yachts sold in the last two years and a half, then they were on the market for an average of 643 days. For the total used GRP built yachts sold in the last two years and a half in the size range of 30 to 50-metres, this average stood at 468 days.

The nineteen Mangusta yachts sold in the last two years and a half represented a total value of €110 million in terms of final asking prices. Their average last asking price was €6.6 million per yacht or €21,900 per GT. The largest Mangusta yacht sold in this time period was the 49.9-metre Incognito, sold in April 2019, which was also the highest valued Mangusta yacht to be sold, with a final asking price of $24,995,000.  

Mangusta 92 yacht in Cannes Photo: Charl van Rooy / SuperYacht TimesTop 5 Mangusta Yachts for Sale

The five largest Mangusta yachts for sale right now are:

Q95 - 45.5m - 498GT - 2018 - €25,500,000 (€51k per GT)

Miss Moneypenny V - 49.9m - 488GT - 2012 - $17,995,000 ($37k per GT)

Samhan - 49.9m - 488GT - 2008 - $17,500,000 ($36k per GT)

Rush - 49.9m - 488GT - 2010 - €15,300,000 (€31k per GT)

Zeus I - 49,9m - 488GT - 2009 - €14,950,000 (€30k 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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SuperYacht Times - The State of Yachting 2019

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