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What’s the Brokerage Market on Large Cheoy Lee Custom Builds?

Cheoy Lee 125

We spoke to a broker who has a custom-built Cheoy Lee 125 listed on right now. Here’s what he had to say about Asian boats, understanding the market on a boat-by-boat basis, and what Cheoy Lees have to offer.

Kevin Ralph, Worth Avenue Yachts;
“The boat is in exceptional condition, she’s a custom-built Frank Mulder design. Cheoy Lee built three of his boats in that era, two of 103 feet and this one at 125 feet. It was built for a knowledgeable three-time-repeat Cheoy Lee client who had his own captain on site to help supervise the build. In addition the owner had quite a lot of stuff shipped over himself: For instance, he picked out all the marble and granite and sent it all over so he would have the quality that he wanted. All systems were sourced in the U.S. for ease of service and maintenance. He sold it after about three years of ownership and it’s been with the current owner and family since then. The current owners are also very experienced and have owned multiple vessels, including another Cheoy Lee and a 142-foot Christensen. Namohwas built to ABS class, and she’s still in class. In fact, she’s out of the water at the moment having her annual class inspection. This particular boat hasn’t been on a budget per se, she’s had whatever she’s needed and has a very experienced and meticulous captain, who has been with the boat for the last 4.5 years. To prove the point, being a very willing and understanding seller, the owner has gone ahead and done a complete electrical survey, bottom survey, and a full engine survey, which will save a prospective buyer considerable time and money when entering into a purchase agreement and should certainly allay any concerns that a potential buyer may have about the age and quality of this yacht. Built with first-class systems throughout, to allow for extended cruising, which includes deep sump 3512 Caterpillars, (allowing 1,000 hours between oil changes and a longer-life motor), a large Marquipt stern passarelle, Atlas shorepower conversion unit, Headhunter waste-treatment system and the list goes on. There’s a lot of volume on this 125—a little more than 130 Westport of the same vintage, which makes for a great charter boat, if needed—the skylounge is massive! Some people are reticent I think of buying a Far East boat, but, having previously owned a Cheoy Lee, (which have targeted the U.S. market for decades, with U.S. systems and space planning), this owner understood the product and after an extensive survey on it he and his family have had over 10 years of trouble-free and pleasurable use on her. The flipside of the coin is, because it’s not as well recognized or perceived in the American market, like a Westport, you’re going to pay less than a comparable 130 and one could argue that you get a more sophisticated and better equipped boat. The boat was painted three years ago and recently received soft-goods updates, she is ready to go sailing and be enjoyed by her next owner and I believe, with an asking price of $6.69 million she represents an excellent value in todays marketplace, especially when compared to the ‘competition.’”