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Darwin 102 explorer yacht Hvalross sold

Market
Written by
Saskia Henn

Built in 2017 by Italian shipyard Cantiere delle Marche, the 31.1-metre motor yacht Hvalross (ex: Galego) was sold in December of 2018 to a direct buyer with Carlo Aquilanti of CdM representing the seller.

Galego aerialPhoto: Cantiere delle MarcheAs part of CdM's 102 Darwin Class line of explorer yachts, Hvalross has a volume of 244 GT. She cruises at a rate of 11.5 knots and can reach a maximum speed of 13 knots. With her exterior designed by Hydro Tec and her interior created by Pierluigi Floris Architetto, Hvalross can sleep up to eight guests taken care of by a crew of six. She contains a master and VIP cabin, as well as two guest cabins, and cabins for the captain and crew.

The sale of Hvalross is notable due to the fact that it was conducted through CdM’s new Pre-Owned Sales Department. While CdM shipyard already assists their clients through the process of building their yacht, the Pre-Owned Sales Department now works as an intermediary to find new owners for yachts already within the CdM fleet. 

Galego runningWhen a CdM yacht such as Hvalross is brought in, the project manager and interior design team of the Pre-Owned Sales Department analyse her features and consider modifications, while the sales team supports the buyer during the handover process.

CdM has seen success with this method, as the company assisted in the sales of four different yachts shortly after creating the Pre-Owned Sales Department, one of these being the Darwin 102 Hvalross. Additionally, CdM reports that the yachts sold through this department experience less depreciation than the average seen in the yacht industry. CdM continues to embrace its new department, having updated their website to include new listings.

Carlo Aquilanti, Sales Manager and in charge of the Pre-Owned Department, says: “We are not brokers and we don’t want to be considered as such. We work in close cooperation with the worldwide brokerage community and we are very happy to support them in case one of their clients is looking for a boat with the specifications of the like of Cantiere delle Marche”.

At the time of the sale, Hvalross had an asking price of € 8,900,000.

Market statistics courtesy of SuperYacht Times iQ  
  - In 2018 Italy built yachts sold at an average asking price of €7,9m, equivalent to €36.560 per GT.  
  - Last year, CdM built yachts sold at an average asking price of €8,9m, or €36,475 per GT.  
  - During 2018, yachts built between 2016 and 2018 sold at an average asking price of €27,5m, equivalent to €56,875 per GT.  
  - In 2018, yachts in the 29-33-metre range sold at an average asking price of €3,1m, or 21.039 per GT.


Specific statistics courtesy of SuperYacht Times iQ 
  - Yachts built circa 2017 in Italy measuring around 31m sold at an average asking price of €7,9m or €35,560 per GT.  


Comparable sales courtesy of SuperYacht Times iQ 
 - Lady Attitude, 2014 Benetti 32m had a last asking price of €6,7m equivalent to €32,372 per GT.  
 - Botti, 2016 Monte Carlo 32m had a last asking price of €7,8m equivalent to €39,078 per GT.
 - Hvalross (ex: Galego) sold for €8,9m or €36,475 per GT.

The SuperYacht Times iQ Report

The SuperYacht Times iQ 2018 Report

Our market report is the most complete in the business and provides in-depth analysis of the fleet by size range, the construction book, the market for new and used yachts for sale and the superyacht builders, as well as a detailed overview of superyacht ownership. It also gives the personal views of Merijn de Waard, company founder and long-term superyacht market analyst, on the state of the market.

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