Custom Line's Tito El Patron Sells After a 21pc Price Cut

How did Tito El Patron's sale come together?

William G. Blackwell of Worth Avenue Yachts introduced the buyer while Mark Elliott of IYC represented the seller, and SuperYacht Times reported the deal closing on 31 August 2026 with Tito El Patron's last known asking price standing at USD 14.9 million.

A split brokerage deal of this kind is routine at the top of the market: the buyer's broker and the seller's broker each work their own side and split the commission, rather than one firm representing both. IYC had carried the listing since Mark Elliott took it over earlier in 2026, after an earlier stretch with Royal Yacht International, and Worth Avenue Yachts brought the buyer to the table from outside that existing relationship. Tito El Patron had been lying in Fort Lauderdale, a market with enough brokerage density that a cross-firm introduction like this one is a normal route to a sale rather than an unusual one. Worth Avenue Yachts is the younger of the two houses, founded in 2011 and headquartered in Palm Beach with further offices spanning Fort Lauderdale, Monaco, Newport, Seattle, San Diego, Geneva and Chesapeake. IYC has the longer history, founded in 1997 and based in Fort Lauderdale itself, with more than 160 brokers and staff across 15 offices worldwide and, by its own account, the largest charter fleet in the industry. Neither firm's scale changes the arithmetic of a single sale, but it explains why a cross-firm deal on a 37-metre yacht barely registers as unusual: both houses close transactions like this one routinely.

What SuperYacht Times did not publish, and what neither broker's own listing discloses, is the actual price the deal closed at. The USD 14.9 million figure is her last asking price, not a confirmed sale price, and the gap between an asking figure and a closing figure on a nearly four-year-old motor yacht is routinely six figures or more. A buyer using this sale as a comparable for a similar Navetta 37 should treat 14.9 million as a ceiling on what changed hands, not the figure itself.

What is the Custom Line Navetta 37, and what does Tito El Patron offer?

Tito El Patron is a 37.04-metre, 289 GT motor yacht built by Custom Line, part of the Ferretti Group, at its Ancona yard in Italy and delivered in 2022, with interior and exterior design by Zuccon International Project and naval architecture credited to the builder.

She is built in GRP with a semi-displacement hull, classed by RINA and arranged over three decks, carrying up to 10 guests across five staterooms, including a full-beam master suite, with a further seven crew including her captain. Twin MTU 10V 2000 M94 diesels, rated at 1,193 kW (1,600 hp) each for a combined 2,386 kW, give her a top speed of 15.5 knots and a cruising speed of 12.5 knots, drawing on a 35,000-litre fuel capacity. The Navetta 37 series is built for owners who want deck space and range over outright pace, and Tito El Patron's equipment list follows that brief: an expansive beach club, a sun deck Jacuzzi, a foredeck lounge and several further indoor-outdoor social spaces spread across her three decks.

SuperYacht Times places her at number 3,225 in its world ranking of yachts by length and as the 62nd-largest yacht Custom Line has built, a builder whose own output runs from 24-metre Navettas up to the largest hulls in its range. None of the coverage of her sale names an owner, current or prior, which is standard for a brokerage transaction at this size; SYT's own registry is the only source with visibility into ownership, and it is available exclusively to its paying subscribers.

How much did Tito El Patron's asking price fall before she sold?

Tito El Patron's asking price fell in two publicly reported steps in 2026, a USD 1.4 million cut to USD 17.5 million followed later by a USD 2.6 million cut to USD 14.9 million, the figure she carried at the time of her sale.

Both cuts were reported by BOAT International as they happened, which means Tito El Patron's price history is unusually well documented for a yacht this age: an implied starting ask of roughly USD 18.9 million, stepping down to 17.5 million, then to 14.9 million, a combined reduction of about 21 per cent before a buyer was found. The first cut was reported while Royal Yacht International held the listing; the second came after Mark Elliott of IYC had taken it over, which is consistent with a common pattern in brokerage: a yacht that has sat too long changes agent as well as price.

A 21 per cent cut over roughly a year is a genuinely useful data point for anyone pricing a similar order today. It says a new-build Navetta 37 does not command a premium once she is a few years old and has already changed hands, and that a seller who lists at a hopeful figure in this size bracket should expect the market to correct it rather than to test it once and hold firm. It does not, on its own, say whether Tito El Patron was overpriced from the start or whether 2026 brokerage conditions for 35 to 40-metre motor yachts have softened generally; that would need a wider sample of comparable sales than this single yacht provides.

Why has this yacht carried three names since her 2022 delivery?

SuperYacht Times' own registry lists Jules and Think Bigger as Tito El Patron's two previous names, meaning she has been renamed twice in under four years since her 2022 delivery, though none of the public reporting on her sale states how many changes of ownership those renamings actually represent.

A yacht can be renamed on a change of owner, but also on a change of charter branding, a change of management company, or simply an owner's preference, so two prior names is suggestive rather than conclusive evidence of two prior sales. What it does confirm is that Tito El Patron has had an active few years relative to her age: a yacht that stays with its first owner under its delivery name for a decade is the more common pattern in this size bracket, and this one has not followed it. A change of flag registration can also force a change of name independent of ownership, since some registries require a vessel's name to be cleared and re-recorded on transfer between flags, which is one more reason two prior names cannot be read as proof of two prior sales without further evidence.

For a buyer evaluating a similarly young resale, the practical takeaway is to ask the question directly rather than infer it from the name history alone: how many owners, how the vessel has been used and maintained between them, and whether her systems and warranty position reflect one owner's care or several. None of that is published here, and none of it should be assumed from a name change on its own.