Brokerage News

Sale Success in 'Unpredictable' Market: 40m OKKO

Sale Success in 'Unpredictable' Market: 40m OKKO
Sale Success in 'Unpredictable' Market: 40m OKKO

IYC and Imperial Yachts have announced the sale of the 41m Mondomarine superyacht Okko. Marat Urusov, who represented IYC in the deal, spoke to about the difficulties of selling in an “unpredictable” market that favours Charter yachts.

The custom build yacht is the fruits of Giorgio Vafiadis’ labour on both the interior and exterior design, who collaborated with Mondomarine’s naval architecture team to deliver a high-quality Italian construction back in 2012. She comfortably accommodates 10 guests in 5 cabins, while having space for 7 crew to attend to their every need.

It is easy to underestimate the effort that goes into pulling off the sale of a superyacht with such a highly esteemed superyacht. Celebrating the sale, Marat Urusov reflected on the difficulties of brokering sales in a precarious market.

Mr Urusov acknowledged that one of the challenges faced is the prominence of the charter market. “Most want to charter,” Urusov explained, which has led to an “unstable” and “unpredictable” market in which it is nigh on impossible to predict sales figures as was once possible.

Mr Urusov admitted he was once able to predict not only the number of vessels that would be sold during a year, but he could also indicate the size of those vessels. Another issue he raised is the increased administrative works required by banks to finalise such a deal, as a higher prioritization of transparency means that much work has to be put it to prove numbers to the banks involved.

Nonetheless, both IYC and Imperial have collaborated in the sale of a quite magnificent yacht, which not so long ago was a finalist in the World Superyacht Awards in 2013. A credit to the timelessness of the Mondomarine creation, Okko will now be enjoyed by her new Owner in time for summer in the Mediterranean.