A YEAR IN REVIEW

Ahead of the Monaco Yacht Show at the end of September, superyacht specialist and Christie Yachts founder Will Christie reflects on the highlights of his first year in business

Words by Annabel Harrison

It’s now a year since the launch of Christie Yachts, an independent superyacht advisory company specialising in sales and new construction, and its first year in business has been a great success; during this time, over 200m in total yacht sales have been completed and Felix Sowerbutts, who joined the team in January, has already proven himself an asset to the small, expert team.

“We spend about 90% of our time telling people not to buy yachts!” says founder Will Christie, smiling. “Because we take great care to understand exactly what clients are trying to achieve out of owning a yacht, we can steer them away from those that are poorly priced or not suited to their requirements and make absolutely sure that they buy the right boat for them at the right price.”

Will and his team consider themselves fortunate to have engaged this past year with a number of clients who truly understood what Christie Yachts could offer them, particularly in terms of specialist advice, its comprehensive industry network and independent recommendations.

50m ERICA (now named TOUTE SWEET)

A key highlight of the past year for Christie Yachts was acting as agent for the buyer of the 50m TOUTE SWEET (ex-ERICA). Will received a call from an industry veteran in another sector of the industry who had a client, an experienced owner, unable to find a suitable yacht. He suggested that Will may be able to leverage his network of contacts to find something off market. “Within two weeks, through my extensive network I'd found two perfect options off market that the client was unaware of,” explains Will. Christie Yachts submitted offers on the client’s behalf on those two boats. Within a month, the client owned one and was able to enjoy the second half of the summer season on board in the Mediterranean.

“It was a pleasingly fast process,” Will continues, “because we had the industry experience and contacts needed to access the boats and their owners. The acquisition of ERICA for our client was a massive success. It showed the value of our relationships and experience. Really exciting and a great outcome.” And the yacht owner agrees. “I was introduced to Christie Yachts when I was desperately searching for a quality 50m yacht, less than five years of age. Will hunted down two completely off-market yachts and did not stop with the presentation of the yacht. He fought hard and represented my interests extremely well. He followed the deal with great precision and management until the yacht was signed and delivered. My lawyer, from a renowned law firm specialising in yacht transactions, did tell me from the outset that ‘Will is the best yacht broker’. I must agree.”

60m SAMURAI

Another highlight was the sale of the 60m SAMURAI, which Christie Yachts sold for its experienced client in less than 90 days. Pricing and proactivity were key to this sale and, on the first point, the balance is delicate. “If you put a yacht on the market at the wrong price, you get no inspections,” Will points out, “and no one ever sold a boat without people being interested. We won't tell an owner a price that's unachievable because it's not acting in their best interest. It's much better to list at a price where we believe a client will get the best outcome in the fastest possible time. If we price it correctly, we can also invest more money in the marketing process as we know that a sale will actually be achievable.”

To achieve the sale of SAMURAI, Will and his team reached out at once to their global network to ensure that every broker capable of selling the boat had the information needed to market it to their client base. “It is a fantastic boat with a brilliant design,” says Will, “built by a relatively new shipyard in Turkey. The long-term relationships we have meant that we knew everything on the boat had in fact been sourced from Northern Europe. The value was remarkable because of lower labour costs in Turkey, with the same quality and designer as some of the best North European boats. This needed careful and direct explanation to the market so that the unique and special features of the yacht were understood; many people were previously unaware about this shipyard and boat.”

In being straightforward, transparent and willing to work with close contacts to get the boat sold, Christie Yachts had SAMURAI under offer in less than a month and sold within three months. “It was an incredibly quick sale, in an industry where some sales can take years,” Will points out, “and a great case study in showing how our highly focused and proactive approach works when we represent yachts for sale”. The owner of SAMURAI was understandably delighted and the speed of the sale was, for him, testament to the Christie Yachts’ approach. “There are of course larger companies in this market,” the owner acknowledges, “but it is easy for a yacht to get lost in a big fleet of yachts for sale. SAMURAI was beautifully presented and marketed. Will’s strong and established relationships in the yacht brokerage community and across the industry meant that he and his team immediately generated a large amount of interest. The yacht was under offer in less than a month of coming to the market. All in all, I was very satisfied. I would certainly recommend other yacht owners work with Christie Yachts.”

Last but certainly not least, the Christie team is in advanced discussions about the construction of three different yachts between 40 and 80 metres, including a technically complex, fully custom motor yacht. “It’s a confidential project at present but it’s very exciting that the client, who is experienced and very knowledgeable, has chosen to work with us,” Will says. “He was struggling to find a shipyard and team that could achieve what he wanted.” This is where Christie Yachts can excel; because of its independence, clients need not commit to working with in-house or pre-agreed teams or contractors. “For each construction project, we bring together the best possible team we know will achieve the required outcome for the client. On the three new construction projects we are working on right now we have totally different teams, bringing in the specialists best suited to each individual boat. This flexibility by being independent is a real benefit that we can offer clients.”

While yachting is a serious business, concludes Will, “it should also be fun. We want to make sure that our clients have a really enjoyable experience. Yes, we are selling a boat, but we're selling a lifestyle too, so it’s crucial to have an expert team of advisors who can ensure this significant commitment ticks every box.”