Sales Market Report January - December (Q1-Q4) 2024 Overview

Throughout 2024, the global yacht sales market experienced a decline, with demand for both new and pre-owned yachts decreasing by 19% compared to the previous year. 

The total value of yacht transactions amounted to $6.9 billion, reflecting a 10% year-over year decline. However, average yacht selling prices remained stable across both new and pre-owned segments, driven by increased demand in the larger market segment, particularly within the 131’-164’ (40m-50m) size range. 

Following a stronger first half of the year, the global yacht sales market experienced a steady decline in the latter half, reaching its lowest levels in recent years. While pre-owned yacht sales demonstrated resilience, new build sales continued to decline. Despite the overall market contraction, transactions volumes returned to more normalized levels, similar to those observed in 2019, prior to the surge in sales seen between 2021 and 2022. 

Looking ahead, we anticipate yacht sales in Q1 2025 to be in line with the first quarter of 2024. Additionally, early projections suggest that annual sales may exceed 2018-2019 levels but remain below those recorded in 2023. 

This report aims to provide a comprehensive analysis of the yacht sales market during the full year of 2024 and offer an outlook for Q1 2025. Our primary focus is specifically on the superyacht sector, covering vessels 80 feet (24 meters) and above. At IYC, we are actively monitoring market conditions by utilizing analytics to track industry trends and client behavior, which directly impact the overall performance of the industry.