Market insight with Paolo Casani

24th July 2023
It has been a busy second quarter for the Camper & Nicholsons brokerage team, with a flurry of sales completed and new central agency listings secured. CEO Paolo Casani offers his insight into the market dynamics observed in 2023 so far and provides an update on the company’s activities.

It has been a busy second quarter for the Camper & Nicholsons brokerage team, with a flurry of sales completed and new central agency listings secured. CEO Paolo Casani offers his insight into the market dynamics observed in 2023 so far and provides an update on the company’s activities.

The superyacht brokerage market had a slow start to 2023. With about one third of sales recorded across the industry compared to the same period in 2022, the first quarter of this year seemed to signal a return to pre-pandemic levels of activity. The second quarter, however, has brought renewed excitement. In the last few months, Camper & Nicholsons has successfully completed some interesting deals and been appointed as central agent for several pedigree yachts.

Paolo Casani, CEO at Camper & Nicholsons, attributes the slowdown at the beginning of 2023 to the cyclical nature of the market, combined with low inventory and global economic uncertainties. He acknowledges, however, that the momentum shifted in April. “The demand from buyers was always high,” Paolo asserts. “Potential buyers may have been waiting for the right time to enter negotiations or commit to buying a yacht.”

There are also more quality yachts coming onto the market, which will likely stimulate buyer demand further. Notably, Camper & Nicholsons recently announced some standout new listings, including the two prestigious 55m Feadship yachts Sea Huntress and Kahalani. Negotiations are also underway for the signing of a third Giga Yacht which will further enhance the company's brokerage offering.

On the charter side, the company is witnessing a level of activity on par with 2022 in terms of charters completed so far this year and bookings for the rest of the year. “Last year was an exceptional year for charter, with Camper & Nicholsons carrying out more than 700 charters on yachts above 40 metres,” adds Paolo. “We are on track to achieve the same performance this year, which will confirm our leadership in the charter sector.”

Business in the first half of 2023 has instilled positivity for the remainder of the year, and Camper & Nicholsons is optimistic about its growth prospects. The company is delighted to have already confirmed a strong fleet for the Monaco Yacht Show 2023 – a clear reflection of the trust that owners have in Camper & Nicholsons to showcase their yachts. As Paolo explains; “Camper & Nicholsons is a global brand with a strong reputation built over more than 240 years of providing exceptional luxury services to our clients”.

The company’s successful track record as central agent can also be attributed to its range of experienced and skillful brokers based around the world. Three new offices recently opened in Athens, Dubai, and Singapore, aiming to tap into the potential of these diverse markets. Across its now 12 locations, Camper & Nicholsons has a direct focus on client relationships. “One of the most important assets we have is our client network and we want to manage those relationships directly,” adds Paolo.

Yachts listed with Camper & Nicholsons also benefit from the full range of services provided by the company. In fact, many yachts in the sales fleet go ahead and entrust the company with charter management services, such as C, Only Eighty, The Great Escape. Positioning the company as a one-stop-shop for the yachting industry, Camper & Nicholsons is actively investing in the quality and quantity of its client services and will be making an exciting announcement about a new service at the Monaco Yacht Show 2023.

As the outlook for the brokerage market in the second half of 2023 is uncertain, Camper & Nicholsons remains committed to driving growth, improving its services, and delivering unparalleled expertise to its clients.