JANUARY - SEPTEMBER (Q1-Q3) 2024 OVERVIEW
Throughout the first three quarters of 2024 (Q1 – Q3), the global yacht sales market experienced a notable decline, with demand for both new and pre-owned yachts decreasing by -27% compared to the previous year. The total value of yacht transactions amounted to $4.6 billion, representing a 25% year over-year decline. Additionally, the average value of yachts sold dropped by 14% across both new and pre-owned segments during this period.
After a slow start in Q1 2024, the global yacht sales market saw increased activity in Q2. Despite this moderate rebound, overall sales reached their lowest level in recent years, with pre-owned yacht sales showing resilience while new build sales continued to decline. Q3 2022, marked the beginning of a market normalization with supply outpacing demand—a trend that persisted through 2023 and into 2024. Despite the overall decline in global sales, certain brokerage transactions and pricing remained strong, with several major deals involving large yachts successfully closed.
Looking ahead, we expect sales in Q4 2024 to align with Q4 2023 and anticipate the year to close at similar levels to 2018 and 2019.
In this most recent edition of the SALES MARKET REPORT we provide an overview of the state of the sales market during the first three quarters of 2024 and an outlook for the last quarter of the year and Q1 2025. We take a close look at the superyacht industry and in particular at all yachts 24m (80’) and above.