Photo: Denison Yachting
An extensive refit could double a yacht's commercial value. You'd expect that investments worth up to $1.5 million would take a sailing yacht that's now 24 years old to an asking price of at least $2 million. That's not what happened in the case of this French luxury sailboat, recently sold for less than its proven commercial worth.
When yachting enthusiast and entrepreneur Werner Wunderli bought Savarona, a 94-foot (28.6-meter) sailing yacht launched in 2001, the vessel was in good shape. It has been regularly refitted throughout the years and has recently passed a hull survey and inspection by the prestigious Patton Marine. The 2015 refit alone was said to be worth more than $1.5 million, and Wunderli would also make significant changes to take this yacht to even higher standards.
Wunderli was more than an experienced yachtsman. He had won multiple sailing championships in his youth and later moved on to running regattas up until the '80s. He had also rented boasts in the Mediterranean for decades, so he knew exactly how to turn an old vessel into a successful luxury charter yacht.
The refit ended up taking a very long time because of the pandemic, but it was worth it. By 2021, the revamped sailboat boasted an impressive range of upgrades. It was repainted head-to-toe and all the onboard systems were either improved or replaced. The completely renovated teak deck now flaunted a custom-designed carbon-fiber roof for sun protection; the interior was varnished and refurbished using premium fabrics.
The refitted Savarona still looked classic, but it emerged from its refit as a contemporary pleasure craft. Because the owner also used it for private cruising and needed to stay in touch with his business, he specifically asked for full Internet connectivity and communication. Thanks to that, this 23-year-old sailboat now offers Wi-Fi, Bluetooth, and MP3 stereo, in addition to upgraded navigation systems.
Savarona is also a proven world cruiser, with a smooth Atlantic Ocean crossing under its belt (which happened prior to the 2021 refit). Built in aluminum by Construction Navale Bordeaux (CNB Shipyard), Savarona couples reliable cruising at nine knots (10 mph) with generous accommodation for up to eight guests across four elegant cabins.
Despite all of these major improvements and proven commercial success (Savarona was even offered with its own dedicated website for charter operations), the old sailboat didn't find a new owner easily. In 2023, its price tag showed a significant drop of €590,000 (more than $600,000), leading to a final asking price of just a little over $1 million – pocket money, if you think about all the money that was invested by the previous owners.
The actual price will remain a mystery because Savarona was sold in an in-house deal this month. It's also unknown if the new owner will continue to charter the French yacht (which makes this even a better deal for him) or enjoy it exclusively for private cruising.
Wunderli was more than an experienced yachtsman. He had won multiple sailing championships in his youth and later moved on to running regattas up until the '80s. He had also rented boasts in the Mediterranean for decades, so he knew exactly how to turn an old vessel into a successful luxury charter yacht.
The refit ended up taking a very long time because of the pandemic, but it was worth it. By 2021, the revamped sailboat boasted an impressive range of upgrades. It was repainted head-to-toe and all the onboard systems were either improved or replaced. The completely renovated teak deck now flaunted a custom-designed carbon-fiber roof for sun protection; the interior was varnished and refurbished using premium fabrics.
The refitted Savarona still looked classic, but it emerged from its refit as a contemporary pleasure craft. Because the owner also used it for private cruising and needed to stay in touch with his business, he specifically asked for full Internet connectivity and communication. Thanks to that, this 23-year-old sailboat now offers Wi-Fi, Bluetooth, and MP3 stereo, in addition to upgraded navigation systems.
Savarona is also a proven world cruiser, with a smooth Atlantic Ocean crossing under its belt (which happened prior to the 2021 refit). Built in aluminum by Construction Navale Bordeaux (CNB Shipyard), Savarona couples reliable cruising at nine knots (10 mph) with generous accommodation for up to eight guests across four elegant cabins.
Despite all of these major improvements and proven commercial success (Savarona was even offered with its own dedicated website for charter operations), the old sailboat didn't find a new owner easily. In 2023, its price tag showed a significant drop of €590,000 (more than $600,000), leading to a final asking price of just a little over $1 million – pocket money, if you think about all the money that was invested by the previous owners.
The actual price will remain a mystery because Savarona was sold in an in-house deal this month. It's also unknown if the new owner will continue to charter the French yacht (which makes this even a better deal for him) or enjoy it exclusively for private cruising.
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