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Designer Yachts...

Discussion in 'Yacht Designers Discussion' started by AMG, Jul 23, 2005.

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  1. AMG, Dec 23, 2005
    #41
    AMG

    AMG YF Moderator

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    A little off topic again, but when I say spec yachts, it covers several situations.

    One is when a shipyard is new or expanding and want to show the world what they can achieve. Another is when the order books look empty for a certain period and the shipyard know it will need the workforce soon again so they build a spec boat to maintain momentum. A third is when an order is cancelled halfway, where it is better to continue the build on spec than stop. It can also happen as with Utopia, the owner dies and the relatives wants the project to be finished and then sold.

    Some shipyards also like to build on speculation since they can go on without an owner interfering with new ideas, and later discussions on the added costs and broken timeframes.

    But there are also a number of yachts built where someone, like Staluppi, is running it as a spec project. He is obviously doing it for the fun of developing fast and special yachts and later sell one or more of them.

    Other just go in and finance a handful of yachts and is getting their own built for a share of the profit. And finally, some are joint ventures with brokers and financiers.

    I also know where a buyer change his mind, often wants a bigger yacht, before taking delivery and is selling the project underway.

    We don´t know all reasons why so many new or almost new yachts come up for sale, but I like to think that the owner is realizing the design was not really what he wanted. I am often right when I see a new (less good) design being built, that it will be up for sale sooner rather than later...

    To end this long reply, this is also why semi-custom (or semi-spec) yachts are becoming more popular. The price is lower and the lead times are much shorter which especially first time buyers appreciate. Many are happy if they can just make the decoration to their own taste and get the new yacht within months instead of years. :)
  2. KCook, Dec 23, 2005
    #42
    KCook

    KCook Senior Member

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    Thanks Lars :)
  3. sailronin, Dec 23, 2005
    #43
    sailronin

    sailronin Senior Member

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    Spec boats seem to be on the rise with even Feadship now offering a line of semi-custom yachts.
    There is a lot to be said for this trend from the new owners perspective. Shorter lead time, they don't have to be involved with the multitude of decisions (they will input into interior decoration and soft goods but not be bothered with actual design details), the price will be lower than a comparible custom yacht.
    On the other hand it does reduce the number of designers getting their work built, and the resale value may be reduced as there is always another new yacht of similar design in the works. Buyers are given more of a choice, purchase a two year old yacht or for a fraction more money get the next one off the line with only a short wait.

    Dave
  4. AMG, Dec 23, 2005
    #44
    AMG

    AMG YF Moderator

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    Since there are more yachts built than ever, I hope the number of real one-offs will remain the same at least. And over time it must increase, as I think the majority of the spec boats and semi-customs are pretty boring...

    Good design will always be in demand or create demand, the problem is more for the buyer to find the right designers who can create a Designer Yacht or at least a good looking and sensible design.
  5. Arniev, Dec 23, 2005
    #45
    Arniev

    Arniev Senior Member

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    As long as there are owners who want to build "the yacht of their dreams", and designers willing to "think outside the box" and turn those dreams into reality, then we'll be seeing a lot of real one-offs for a long time.
  6. brian eiland, Dec 28, 2005
    #46
    brian eiland

    brian eiland Senior Member

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    Aesthetic point of view

    I'm not really a power yacht person, so maybe I shouldn't even be contributing here. But a few of these recent postings were brought to my attention, and I read thru this subject thread real quick.

    Just my observation from an aesthetics point of view, what an ugly vessel that Foster & Partners design is. I much prefer "Limitless" from thread # 1, and I think "Lady Sheridan" at http://www.yachtforums.com/forums/14281-post4.html is rather nice as well.
  7. KCook, Dec 28, 2005
    #47
    KCook

    KCook Senior Member

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    We are on the same wavelength there Brian ;)

    Kelly
  8. Innomare, Feb 3, 2006
    #48
    Innomare

    Innomare Senior Member

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    "on spec" and semi-customs

    There seem to be two different meanings for building "on spec".
    Contrary to Lars, I believe it means "on specification". Which means that it is a one-off, built entirely on the clients' demands. These are usually written in a specification, which is the guideline for the design and the construction of the yacht. So actually almost the opposite of "on speculation".

    I also believe that the way Feadship and Amels are going with their semi-custom designs (F45 e.g.) is not the right way. I don't see a real price reduction, so the only advantage to the client is the shorter waiting time, but that will be annihilated by the general increase in demand. Soon you'll be on a 3 year waiting list for a semi-custom as well.
    Apart from that, I think Feadship and Amels are doing harm to their brands by offering "production boats". (let's face it, all production boats over 100 foot are actually semi-customs)
    If I could afford a mega-yacht, I would cough up the extra percent or two-three it takes to have truly unique yacht. A client's input in a yacht is so much more than just the interior design (range, speed, sea-keeping, exterior styling, general arrangement, ...). And the concept design (if done well) is definitely the most enjoyable part in the construction process for an owner.
    If I wouldn't want the three to four years waiting, I'd find a unique pre-owned yacht (maybe a designer yacht?) from the aft sections in the magazines and refit it to my preference.

    Bruno
  9. AMG, Feb 3, 2006
    #49
    AMG

    AMG YF Moderator

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    English is not my first language, but I think people in this biz is talking of yachts built ON speculation or built TO specification. As an abbreviation my dictionary says that SPEC alone means speculative/speculation.

    On the semicustom yachts coming from Feadship and Amels I agree with you. There might be a significant price advantage, but nevertheless it is not the kind of Brand building we are used to from these shipyards...
  10. KCook, Feb 3, 2006
    #50
    KCook

    KCook Senior Member

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    At least here in the US the term "spec" in the context of a commercial project is most often taken as "speculation". Per the definition Lars gave. Though you will certainly see "spec" as "specification" in a plans context. Really can be confusing.

    I don't have a position on the new quickie yachts by Amels and Feadship. Let the market decide. If they get a bunch of orders, then I would call this a success.

    Kelly
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