Just how much yacht you get for a million pounds (or euros) is a more complex question than it first appears. Over the past five years manufacturers have faced rising costs across the board, particularly in raw materials. At the same time, demand has continued to increase for larger yachts with more internal volume, with many buyers going bigger earlier on their yacht ownership journey.

Where once seven figures was reserved for flagship models only, a surprising number of new higher spec cruisers now tip into that price bracket.

Production builders like Hanse and Bavaria have managed to build large for under the £1m mark, largely due to the economies of scale they build at, but more luxurious and slower-built yachts are now firmly north of £1m over 50ft LOA.

At the same time, the Multihull sector continues to grow, with performance orientated models starting to carve their own market.

Compounding all of this, the global economic climate has countered the post-Covid new build boom, making some of the best prospects above £1 million to be found on the used market. In many cases those £1m yachts that were bought in the boom, often lightly used, are those coming to market now.

The ARC multihull fleet has been growing year on year. Photo: James Mitchell/World Cruising Club

One hull or two?

A million-or-more budget puts buyers firmly into the 50ft-plus, lightly used, quality Monohull market, but it’s also a figure where many start to consider more than one hull. Whether mono- or multihull, yachts at such a price point tend to be more complex, with most owners seeking at least some expert advice.

Spike Abram founded Rapide Yacht Group as an independent brokerage specialising in performance yachts, with a focus on Multihulls. Having formerly worked as a Gunboat 68 captain and a project manager he recognised an emerging market with a new generation of performance Catamarans that were very well suited to cruising, along with those willing to pay over £1million for them.

“I spent some time as a broker for Gunboat, but was interested in the growing performance multihull market more widely. An increasing number of buyers were seeing performance multihulls for the cruising style that they offered, in a way that’s only really quite recent – very fast passage making combined with a very high level of comfort just not possible on a monohull until you are over 80ft, yet still being surprisingly accessible to sailors that aren’t super experienced.

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“What was missing for them was a good level of advice; something we have made our number one priority. Gunboats developed a reputation for having friendly owners who wanted to sail fast, but often needed a professional skipper due to the level of performance. But one rung down from that, there’s a happy medium that most ‘owner drivers’ can handle with a little coaching,” explains Abram.

The idea of a broker as advisor isn’t new, but Abram wanted to think slightly differently about how that related to selling yachts. “Being a Gunboat fan and someone who was selling them was great, but being restricted to one brand I eventually found didn’t suit me.

“Clients now come to me and if I can point them in the direction of one of our great listings, that’s fantastic. But if we haven’t got a boat that’s suitable for them, I’ll explain that and happily point them somewhere else and help them with that process.

“Clients do come back, and you might make a great deal a few years down the line because you served them first and foremost with what was right for them at that time.”

Spike Abram set up Rapide brokerage after seeing a gap in the market for those looking for performance catamarans

Capital improvement

The investment to maintain the value of a yacht over £1m in price can be layered with complexity and constant decision making. Is it a smart idea to re-power? Put on a new deck? Upgrade the electrics?

When Abram has sold performance multihulls he has encouraged owners to think three years ahead about improvements, making a clear and realistic plan. “If you know what you are looking for you can tell a lot about a boat by its history.

“Are there structured maintenance records? If so, it’s likely maintenance has been a serious consideration for the previous owner, rather than an afterthought.

“Making an improvement plan for when you take ownership over years one, two and three will make the finances more predictable and ownership less fraught with surprises. With a high value performance yacht you really want to be planning ahead for the real world.”

Yachts from low volume boatyards – such as this Saare 47 – can have a seven figure price tag, but are likely to hold residual value well. Photo: Paul Wyeth/YM

Mission Critical

While buying over £1m is a lot of money, buying the right boat for the mission might be worth the extra cash; particularly when buying used. Those embarking on a bluewater cruising adventure like the ARC (Atlantic Rally for Cruisers) are often taking a sabbatical where buying bigger can enable a more inclusive adventure with more crew.

“Resale values after initial depreciation on more expensive quality yachts can be better as yachts are produced in fewer numbers, so that can be factored into your search,” adds Abram.

The ARC last year saw more multihulls than ever before and a number of yachts over 70ft bought specifically to take on a bluewater sabbatical. “If you make a plan, ownership like this can be for a period of time to have your adventure, then the yacht is sold. When you’re on board it’s great value!” Abram says.

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