Market Watch: Ale Navarro from HMY Yachts Speaks with SuperYacht Times
As seen on SuperYacht Times:
This month, SuperYacht Times is interviewing a range of industry leaders in the brokerage sector to find out their views on the 2018 superyacht market. Today we focus on American Yacht market with Ale Navarro who is a broker for HMY Yacht Sales.
The Florida-based company experienced several noteworthy sales in 2018, including that of the 57.91-metre Skyfall in February and the 65-metre Double Down in September. Additional notable sales from last year include the 35.05-metre Sans Souci in July and the 36.9-metre The Rock (ex: Miss Moneypenny) in October. Ale Navarro, who has previous experience as a motor yacht captain in addition to his current brokerage role, reflects on his observations of the 2018 yachting market and what he expects for the American yacht market in the future.
SuperYacht Times: In 2017, 284 30+ metre used yachts were sold. Similarly, in 2018, around 280 (to be confirmed) used yachts were sold. How does your sentiment of the market compare? Do you see that the market is stable or growing?
Ale Navarro: I see a growing market in large yachts. In 2018. HMY Yachts sold 28 motor yachts over 80 feet, mostly due to the increased demand of our client base.
SuperYacht Times: Have you seen a shift in clients in the past year? For example, in nationality, age, gender or occupation - or any other observations you have noticed.
Ale Navarro: Overall we are seeing more US-based clients than international. It seems that economic conditions are stronger here than in many other parts of the world.
SuperYacht Times: What is your view on the pricing of yachts? Are there fewer reductions in price or are yachts sold closer to their asking prices?
Ale Navarro: If an owner prices their yacht properly, there is usually no need for drastic price reductions. I see a bit of both worlds in used and new yachts.
SuperYacht Times: Do you see a particular market that is very popular right now? For example, yachts of a certain size, certain builder or age?
Ale Navarro: I believe there is a market for everyone (size, brand, year, etc). Everything sells at the right price. The last few years I’ve been involved in deals between 50 to 120 feet. I was the 2018 'top producer' for Princess Yachts in America. I work closely with brands like Pershing, Princess, Riva, Ferretti, Mangusta, Azimut, Sunseeker, AB, and Sanlorenzo.
SuperYacht Times: What are your expectations and predictions for the superyacht market in 2019? What are you looking forward to?
Ale Navarro: I expect 2019 to be another strong year in the superyacht segment of our business. The year started off a bit slower than 2018, but after the Miami Yacht Show, I can see strong activity all around the industry.
Ale Navarro is a yacht sales professional at HMY's Miami Beach Marina location. Contact him today for all of your yachting needs: 786-564-9365