Sales Market Report

The 2023 yacht sales market experienced a decrease in both new and used deals, continuing a downward trend that began in Q3 2022. This has resulted in a drop of -29% in the market versus a year ago, bringing 2023 sales levels back to a more typical range after the extraordinary numbers seen in 2021 and 2022. With a total of 828 yachts sold these past twelve months (515 used and 313 new build deals closed), the market normalised after a two year high, and is more in line with 2019-2020 figures. Despite lower records during the past year, the 2023 sales market saw yachts prices remaining firm, with last known asking prices up by +39% for used units and +11% for new boats. This increase was a result of an ongoing demand for large yachts (164'/50m+) coupled with higher construction prices and limited available construction slots for new builds in shipyards. The global yacht sales market generated a total transaction value of $7.2 billion, in line with 2022 (+2%), despite a decline in the number of deals closed.

We anticipate a slow start of the year during Q1 2024 in terms of sales, with a lower yacht supply on the market, continuing the Q4 2023 trend, but with on going price corrections. Based on the current market environment, the first quarter of 2024 is expected to be in line with Q1 2019 and Q4 2023 figures.