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SYT iQ: Sanlorenzo’s performance on the used yacht sales market

Market
Written by
Aurélien Herman

The renowned Italian yacht builder Sanlorenzo was founded in 1958 near Florence. Like many yacht builders in the sixties and seventies, Sanlorenzo built its yachts of wood until the shipyard launched its first fibreglass vessel in 1985. In 2007, Sanlorenzo diversified into the construction of aluminium-hulled superyachts with the delivery of the first yacht from its 40 Alloy series. The Superyacht Division of the group hasn’t stopped growing since then and today Sanlorenzo is capable of building yachts up to 64 metres in its Viareggio and La Spezia facilities. 

Since 1995, when Sanlorenzo launched its first 30-metre plus yacht, the shipyard has completed 129 motor yachts over 30 metres according to our database. These yachts have a combined total length of 4,634 metres with an average length of 35.9 metres and an average volume of 284 gross tonnes (GT). In the past ten years, the shipyard has completed a total of 112 motor yachts from 30 metres up.

Seven Sins yacht anchored off AnguillaPhoto: Charl van Rooy / SuperYacht TimesUsed Market

Over the 128 30-metre plus Sanlorenzo yachts in operation, 29 of them are currently available as yachts for sale, which represents 22.7% of the Sanlorenzo fleet in operation. Currently, the longest Sanlorenzo yacht for sale measures 52 metres. At the moment, 23.6% of all motor yachts between 30 and 52 metres are listed as yachts for sale, which is a higher share than we see for the Sanlorenzo fleet over 30 metres. The total length of the Sanlorenzo yachts for sale is 1,045 metres with an average length of 36 metres and an average volume of 281GT.

The average price of a used Sanlorenzo yacht for sale on the market right now is €9.4 million, or €34,000 per GT. Focusing only on the 22 Sanlorenzo yachts for sale that have been built since 2010, the asking price per GT comes to €36,000. If we make a distinction between Sanlorenzo yachts for sale with GRP hulls and the yachts from Sanlorenzo's Superyacht division, which have hulls made of steel or aluminium, the average asking price per gross ton is of course different. For Sanlorenzo GRP-hulled yachts, the average asking price comes to €30,000 per GT while for the Superyacht Division yachts we find an average asking price of €40,000 per GT.

On average, Sanlorenzo yachts for sale have been on the market for 463 days. Seven years is the average age of these current yachts for sale. The most recent Sanlorenzo yacht for sale is Sanlorenzo SD112 hull 69 launched in 2018, while the oldest is the Sanlorenzo 100 Sheran from 2000.

How do the numbers for these yachts for sale compare to similar yachts for sale built by other yards? Sanlorenzo yachts for sale have similar averages compared to the market for similar sized yachts. The average motor yacht for sale with a length of between 30 and 52 metres length completed from 2000 onwards measures 37.3 metres and has an average GT of 284. For Sanlorenzo, these numbers are 36 metres and 281GT respectively. 

Meanwhile, used Sanlorenzo yachts for sale seem to be priced higher than the market average for similar used yachts for sale, at €9.4 million per yacht and €34,000 per GT for a used Sanlorenzo versus €7.3 million per yacht and €28,000 per GT for similar used yachts for sale. In terms of average days on the market, used Sanlorenzo yachts for sale compare favourably at an average of 463 days on the market versus 734 days for the total fleet of comparable used yachts for sale.

Sanlorenzo SL 102 AsymmetricPhoto: SanlorenzoComparison with other builders

How do used Sanlorenzo yachts for sale built from 2010 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 30 and 52 metres?

There are 15 used Benetti yachts for sale in this category. They have an average asking price of €12.1 million per yacht, an average volume of 366GT and an average asking price per GT of €33,000. These yachts for sale have been on the market for an average of 617 days.

In comparison with another Italian competitor in the same category, buyers can choose from 16 used Custom Line yachts for sale. Their average asking price per yacht is €8.4 million with 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 413 days on average.

The British shipyard Sunseeker, also active in this market segment, has 20 used Sunseeker yachts for sale built from 2010 onwards, their average asking price is €9.3 million at an average volume of 271GT. Their average asking price per GT is €34,000 and they have been on the market for an average of 530 days.

Crossing the Atlantic, we take a look at used Westport yachts for sale in this category. There are currently ten used Westport yachts for sale built from 2010 onwards. They have an average asking price of €14.3 million, an average volume of 272GT and an average asking price per GT of €53,000. They have been on the market for an average of 378 days.

SanLorenzo used market review Photo: SuperYacht TimesNew yachts coming on the market per year

In the last two years and a half, up to seven used 30-meters plus yachts built by Sanlorenzo came on the market per quarter. The third quarter of 2018 and the first quarter of 2019 saw the highest number of used Sanlorenzo yachts for sale coming on the market with respectively seven and six units. For the two first quarters of 2019, a total of eight used 30-metre plus Sanlorenzo yachts were newly listed.SanLorenzo used market review Photo: SuperYacht TimesThe most recent Sanlorenzo yacht for sale to be listed is the 33-metre Sanlorenzo 108 Titan II of London, which came on the market in June 2019.

Yachts sold 

In the past two years and a half, a total of 21 used 30-metre plus Sanlorenzo yachts were sold. During 2017 and 2018 a total of 12 yachts were sold. A total of nine used Sanlorenzo yacht sales have been reported in 2019 so far.

SanLorenzo used market review Photo: SuperYacht TimesIf we look at the used Sanlorenzo yachts sold in the last two years and a half, then they were on the market for an average of 367 days. For the total used fleet sold in the last two years and a half in the size range of 30-52-metres, this average stood at 633 days.

The twenty-one Sanlorenzo yachts sold in the last two years and a half represented a total value of €160 million in terms of final asking prices. Their average last asking price was €10.6 million per yacht or €34,250 per GT. The largest Sanlorenzo yacht sold in this time period was the 46-metre Achilles F (now named Apries W), sold in April 2017, which was also the highest valued Sanlorenzo yacht for sale that was sold, with a final asking price of €19,800,000.

 X Sanlorenzo 460EXPPhoto: Guillaume PlissonTop 5 Sanlorenzo Yachts for Sale

The five largest used Sanlorenzo yachts for sale right now are:

Seven Sins - 52m - 499GT - 2017 - €30,000,000 (€60k per GT)

Forwin - 46m - 499GT - 2013 - €16,950,000 (€33k per GT)

Rêve d’Or - 46m - 499GT - 2011 - €15,999,000 (€32k per GT)

Lammouche - 44m - 498GT - 2010 - €14,750,000 (€29k per GT)

X - 42,2m - 475GT - 2016 - €18,000,000 (€37k 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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