Psychology can play odd games with human nature.

Back in July 2021, demolition players were rejoicing about “mythical” and “previously unthinkable” scrap prices of $600 per ldt.

Yachts moored in the bay beneath the Astir Palace hotel during this year’s Posidonia, which GMS’ Anil Sharma described as the busiest he has ever seen. Photo: Julian Bray

One year later, the same price levels fail to excite owners, said Anil Sharma, head of Global Marketing Systems (GMS) — the world’s biggest cash buyer of ships.