Superyacht market improving again after a protracted post-crisis slump
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[PARIS] Selling Cakewalk hasn't been quite as easy as its name would suggest. The 86-metre luxury super-yacht with six sundecks, a baby grand Steinway & Sons piano and vast Italian marble his-and-hers' bathrooms has been on the market for three years. To ease the task, its sellers gave it pride of place last week at the Monaco Yacht Show and dropped its price to 119 million euros (S$191 million), a fifth less than in 2011. The bait may work.
"The market is moving again," Jonathan Beckett, CEO of brokerage Burgess, said. "We've got a number of interested parties."
The discount on Cakewalk and renewed hope for a sale illustrate the cyclical nature of the yacht business, which is intimately linked to the fortunes of the world's biggest spenders.
