Bernard Gallay Yacht Brokerage

Yacht Brokerage• Editorial •Yacht Market OverviewBernard GallayDuring the transition period between2011 and 2012, BGYB and indeed thewhole yacht market have seen significantprice reductions on vessels of all shapes andsizes. With prices continuing to drop, buyershave started to become increasingly active inthe market at the start of this year suggestingthat buyers who have waited are benefittinggreatly. The price reductions that we haveseen have already started to stimulateand re-boot the market resulting in moreenquires and more sales. With this increase,the market will no doubt re-establish itself.The sales and purchase side of our businesshas taken a significant step forward in recentmonths. Not only have we continued to signlarger yachts as Central Agents but we alsohave signed superb yachts as Co-CentralListings such as 109 ft Centreboard SloopAVENTURA and 108 ft Converted MaxiCatamaran SWIFT with brokerage house FraserYachts. This cooperation with our colleagues inthe industry allows us to share our resources,build stronger relationships with our clientsand provide an outstanding service.Perhaps the most exciting news that BGYBhas to announce since autumn is the openingof our new office in Turkey. Our brokers,Thierry Sagnes and Christophe Apotheloz arebased in Marmaris on the West coast of thecountry. They operate along the entire Turkishcoastline as well as in Greece, Lebanon andIsrael. A presence in this market is not onlyimportant for us in the further development ofour brand and business but we also stronglyfeel that this is a market that will developconsiderably in the coming years. We havealso seen our management activity do wellas new facilities in Sète in the South of Franceallow us to welcome more and more of ouryachts, especially those of over 50m in length,during the winter months.On the charter side of the business, we haveseen continual development and have notexperienced a single step back since wemoved into the field five years ago. We havesigned prestigious yachts as Central andCo-Central Listings such as 100ft SouthernWind Shipyard Yacht CAPE ARROW and80ft Wally Yacht GENIE. CAPE ARROW hasrecently been announced as a finalist in theShowBoats Design Awards 2012 for both theNaval Architecture Award and the InteriorLayout Award for Sailing Yachts. This fantasticnomination further highlights the quality ofthe yachts we have available for charter.In the last few years, the passion andenthusiasm for sailing regattas has increasedconsiderably and we have attracted businessfrom clients wanting charters for racingevents such as Les Voiles de St. Tropez andThe Rolex Middle Sea Race to name but afew. The most rewarding aspect about thisis that many of these customers are repeatclients, which demonstrates the confidenceand loyalty that they have in our business andreflects the excellent service we offer. We havealso experienced interest from new markets,notably Russia, and we will be present at theMYBA Charter Show in Genoa for the first timethis year as well as the Antibes Yacht Show inApril for the fourth time.In addition, we have seen growing activityin catamaran charter over the last year as wehave experienced more and more interest inyachts of this type. BGYB was present at thisyear’s Antigua Charter Show where catamaranWORLD’S END won two prizes (Coffee RoastersPrize Winner and Chef’s Culinary Challenge) inher category for yachts under 100ft. This is thesecond consecutive year that a yacht fromour charter fleet has won in this competitionas catamaran MAGIC CAT won the meetinglast year. This competition highlights somevery accomplished chefs and charter yachtsthat currently represent the best standards ofcreativity in the culinary world.From mid-March onwards, signs ofimprovement in world finance means wehave received more and more contact frompotential clients in both sales and charter sidesof the business, which is very promising forthe rest of the year to come. We believe thatthe rest of 2012 and 2013 will be better yearsfor the industry and that we will see the trueresurgence of the market in 2014 and 2015.2Montpellier/France l La Ciotat l Monaco l Paris l Palma, Majorca l Moscow l Hong Kong l Grenada l Turkey