Edmiston hails new life in superyacht market after £32m sales

The European dealer is claiming a revival in the superyacht market after selling five vessels in five weeks for a total of £32m

The 2008-2012 double-dip recession hit the boating industry harder than most, both in the UK and further abroad, but it seems that there could be light at the end of the tunnel.

European superyacht dealer Edmiston is claiming that the market has turned the corner, after it kicked off the season with £32m worth of sales in five weeks.

This extraordinary boost to the industry was delivered by five particularly big-spending customers from the UK, Germany and the USA.

These huge deals included ‘QM of London’ and ‘Sea Dweller’ (pictured above), vessels that commanded an asking price of more than £7m each.

Recommended videos for you

The brokerage, which has European offices in London, Antibes and Monte Carlo, has also reported a 15% year-on-year increase in summer charter bookings.

Nicholas Edmiston, chairman of the company, said: “It’s very encouraging to see buyers re-emerge from the likes of the UK, US and Germany which used to be the strongest markets before the downturn which hit the global economy.

“Buyers are still seeking the right deals where they can but they are clearly back to pursue what is the ultimate holiday – having your own yacht to be where you want when you want.”

Let’s hope such a huge injection of capital can help to reinvigorate the UK boating market on all levels.