How to choose the right shipyard

TSG talks to a Will Christie from Christie Yachts to ascertain how clients should approach choosing the right shipyard.

Excellence is the accepted quality standard in the superyacht industry – but not all shipyards are equal. Those looking to commission new builds should consider a number of factors before engaging in a build contract. How financially stable is the yard? How efficiently are they managing their current projects? Is the pricing fair? How should the relationship with the shipyard be managed?

“The first consideration is to understand the balance between what the client’s expectations are on quality and what their budget might be,” says Will Christie, founder of Christie Yachts. “Generally, I will try and persuade clients to go for as high a quality as possible, and maybe give up a bit on the size, because living with a superyacht that isn’t great quality really isn’t a fantastic experience for any owner.

“A further consideration is the resale value of a project. Brokers are acutely aware of how easy or how difficult it can be to sell a boat after a few years when the owner inevitably decides to move up in size or, occasionally, move away from yachting altogether. We can steer them towards features that will increase resale value and advise on any that will make resale more challenging. Building a custom superyacht is the ultimate luxury as you get exactly what you want but when you make the decision to move on, you want to end up with a product that you can also sell without losing your shirt. That can come down to interior design, the layout, number of cabins etc.”

Ultimately, when buying a super-yacht, clients are paying for quality and, to a certain extent, they are also paying for the brand. Christie explains that when it comes to a second-hand sale, the last thing a broker wants to be doing is first having to convince a buyer to consider the product of a lesser known yard, although it is always possible. Indeed, in instances where the brand name and pedigree are immediately recognisable, at least part of the job is already done for the broker. There is always a ready market for yachts from those recognisable, pedigree yards.

“Most clients do a quick 10-second analysis when they see a boat for sale. They look at the length, the yard, the delivery year and the price and, unless they are completely new to the market, they will be able to make a decision quickly as to whether or not they are interested in a vessel,” adds Christie. “It takes a highly skilled broker to sell a superyacht that comes from a yard without an established brand. That being said, it is perfectly possible to commission a successful superyacht project at a less established shipyard but the onus is then on the owner to create a team that has sufficient experience and expertise to account for the areas in which the shipyard might be lacking.”

“The first consideration is to understand the balance between what the client’s expectations are on quality and what their budget might be,” says Will Christie, founder of Christie Yachts.