The 23.16-metre sailing yacht FALCON has returned to the brokerage market asking $1.9 million after completing an extensive two-plus-year rebuild at Lyman-Morse that Northrop & Johnson says exceeded $3 million. Built by Brooklin Boat Yard in 2005, the yacht is represented for sale by broker Bill Titus and is scheduled to appear at the Newport International Boat Show in September.
The programme went substantially beyond cosmetic refurbishment, with Stephens Waring Yacht Design involved in changes to the sailing platform and structure. The work included a new high-aspect bulb keel, carbon rudder, carbon keel plug and trunk, structural reinforcement and renewed chainplates, giving the yacht a materially updated technical foundation.
The rebuild focused on the sailing platform
A major refit can preserve the appearance of a yacht while leaving its core performance unchanged, but FALCON’s programme tackled the appendages and structural elements that directly influence sailing behaviour. The new keel and rudder were paired with reinforcement work intended to support the revised loads.
That makes the rebuild more significant to a buyer than a simple interior refresh. It also means a serious survey should concentrate on the interfaces between new and original structure, confirming workmanship, documentation and the condition of systems that were not replaced during the programme.
A newer carbon rig complements the hull work
FALCON received an Offshore Spars carbon mast and boom in 2023, together with Future Fibres EC6 standing rigging and a Doyle sail inventory. Those upgrades align with the performance intent of the new appendages and reduce the amount of major rig investment a new owner may face immediately after purchase.
Rig condition still needs independent inspection because age alone does not determine remaining service life. Load history, maintenance, ultraviolet exposure and the manufacturer’s inspection intervals all matter, particularly on a yacht intended for active sailing rather than occasional short passages.
The asking price sits below the reported rebuild cost
Northrop & Johnson is marketing FALCON at $1.9 million despite the recent rebuild being reported at more than $3 million. That comparison illustrates a recurring brokerage reality: owners rarely recover the full cost of major refit work in the sale price, even when the programme materially improves the yacht.
For a buyer, the opportunity is only attractive if the work suits the intended use and has been properly documented. The purchase price may be lower than the refit spend, but ongoing maintenance on a 23-metre performance sailing yacht remains substantial and should be assessed independently of the headline discount.
Newport gives buyers a chance to inspect the yacht
FALCON is due to attend the Newport International Boat Show from 17 to 20 September 2026, giving prospective buyers an opportunity to see the finished yacht rather than relying solely on refit photographs and specifications. A show inspection can be a useful first step before commissioning a full survey and sea trial.
At 23.16 metres, FALCON remains within Luxury Yacht Guide’s sub-24-metre scope while offering systems and operating considerations close to much larger sailing yachts. The rebuild makes it an unusual brokerage proposition for owners looking for an established custom yacht with recent technical investment already completed.
