The British yacht builder Princess Yachts started in 1965 as Marine Projects (Plymouth) Ltd and is owned by L Capital 2 FCPR, a division of the French LVMH group, since 2008. Princess Yachts is building GRP yachts from 10.98 metres to 40.16 metres in length and first entered the 30-metre plus segment in 2011. Since then, four additional models followed and the 40.16-metre Princess 40M yacht is the shipyard’s largest yacht to date. To date, Princess has delivered 36 motor yachts over 30 metres. These yachts have a combined total length of 1,203 metres, an average length of 33.4 metres and an average volume of 221 gross tonnes (GT). Photo: Princess Motor Yacht SalesUsed Market
Of the 36 30-metre plus Princess yachts in operation, five motor yachts are currently available as yachts for sale, which represents 13.8% of the Princess fleet in operation. These yachts for sale measure between 30.45 and 40.16 metres in length. Looking at the entire fleet of operating motor yachts built in GRP between 30 and 41 metres from 2010 onwards, we find that 21.5% of them are listed as yachts for sale, which is a higher share than we see for Princess yachts for sale in this range.
The total length of Princess yachts for sale is 173 metres with an average length of 34.6 metres and an average volume of 242 GT. The average price of a used Princess yacht for sale right now is €10.7 million or €44,000 per GT.
On average, Princess yachts for sale have been on the market for 450 days. All of them were completed from 2011 onwards and they have an average age of just three years.
The most recent Princess yacht for sale is Samba delivered in 2019, while the oldest is Sauvage from 2012.Photo: Princess yachtsHow do the numbers for these yachts for sale compare to similar yachts for sale built by other yards?
Princess yachts for sale are slightly larger on average compared to the market for similar GRP-built motor yachts in the 30-to-41-metre size range. The average length of the fleet in this size range is 34.4 metres per unit for an average gross tonnage of 232 GT, against 34.6 metres and 242 GT on average for a used Princess yacht for sale.
The average asking price for used Princess yachts for sale is also higher than the average in the 30-to-41 metre size range. The average used Princess yacht for sale is listed for €10.7 million or €44,000 per GT against €8.23 million per yacht or €35,000 per GT for the market of similar sized yachts. In terms of average days on market, used Princess yachts for sale have been listed for a shorter time than the average similar-sized motor yacht, at 450 days for Princess yachts for sale versus 543 days on the market for the size range as a whole. Comparison with other yacht builders
How do used Princess yachts for sale 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 41 metres built from 2010 onwards?
A direct competitor of Princess is the British yard Sunseeker. There are currently 22 used Sunseeker yachts for sale in this category. They have an average asking price of €9.1 million per yacht or €34,000 per GT and an average volume of 272 GT. These Sunseeker yachts for sale have been on the market for an average of 501 days.
In the same category, buyers can choose from nine used Westport yachts for sale. Their average asking price per yacht is €14.6 million or €55,000 per GT with an average volume of 265 GT. These Westport yachts for sale have been on the market for 387 days on average.
Going back to European shipyards, the Italian shipyard Sanlorenzo is also active in this market segment with 16 used Sanlorenzo yachts for sale. These 16 used Sanlorenzo yachts for sale built from 2010 onwards have an average asking price of €7.8 million with an average length of 33.8 metres and an average volume of 237 GT. Their average asking price per GT is €33,000 and they have been on the market for an average of 368 days.
Staying in Italy with GRP-built motor yachts, we take a look at used Custom Line yachts for sale in the 30-41-metre size range. In this category, there are currently 14 used Custom Line yachts for sale built from 2010 onwards. They have an average asking price of €8.7 million, an average volume of 224 GT and an average asking price per GT of €39,000. On average, Custom Line yachts for sale have been on the market for 372 days.Photo: SuperYacht Times
New yachts for sale on the market per year
In the last two and a half years, up to two used 30-metre plus yachts built by Princess came on the market per quarter. A total of nine Princess yachts were put on the market during that period of time. The first and second quarter of 2019 saw the highest number of used Princess yachts come on to the market with two units respectively.
Photo: SuperYacht TimesYachts sold
In the past two and a half years, a total of nine used Princess yachts for sale were sold. For 2017 and 2018 combined, a total of nine used Princess yachts were sold. No sale of a used Princess yacht for sale has been reported so far in 2019.Photo: SuperYacht TimesIf we look at the used Princess yachts sold in the last 2.5 years, they were on the market for an average of 215 days. For the total used fleet in the size range of 30 to 41 metres sold during this time period, this average stood at 423 days.
The nine Princess yachts sold in the last 2.5 years represented a total value of €80 million in terms of final asking prices. Their average last asking price was €10.8 million per yacht or €36,560 per GT. The latest Princess yacht sold is the 40.16-metre yacht Mirage IV in 2018 while Odyssey was the highest priced Princess yacht sold in October 2017 asking €17.6 million.
Five Princess Yachts for Sale:
The five 30-metre plus Princess yachts for sale right now are:
Odyssey – 40.16m - 395GT - 2015 - £13,900,000 (£35k per GT)
Samba – 35.15m - 248GT - 2019 - €14,500,000 (€58k per GT)
Antheya III – 35.15m - 248GT - 2015 - £9,750,000 (£39k per GT)
Sauvage – 32m - 196GT - 2012 - £4,950,000 (£25k per GT)
Bandazul – 30.45m - 124GT - 2018 - £6,850,000 (£55k per GT)
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