Top 5 Yacht Sales Trends

UK VAT-Paid Boats

In light of Brexit and subsequent VAT changes on UK boats, we’ve seen an increase in demand for UK–based boats from local buyers. Boats based in the EU are subject to UK VAT if they didn’t enter the UK before the 31 December 2020 cutoff. Thus, UK VAT-paid vessels are extremely sought after, and we predict this trend will continue throughout the year ahead. Furthermore, despite easing of COVID travel restrictions, the new 90-day EU tourist visa for British citizens has resulted in UK boat owners spending less time on the continent and cruising destinations closer to home. If you are looking to buy a UK-based boat or would like advice relating to VAT on your EU-based boat, please get in touch.

Rising prices

In a rare economic phenomenon, we’ve seen an increase in brokerage prices for some yacht vendors. This is, in part, a continuation of an increase in demand for boats during the COVID pandemic, which has overwhelmed boatyards, led to a shortage in parts and skilled labour and resulted in long waiting lists for new boats. This, in turn, has buoyed up the brokerage market, and vendors are seeing fantastic returns on their used boats. But that’s not to say that buyers aren’t getting a good deal. Buyers are looking for good value and will pay the right price for the right boat, but quality is still essential to securing a successful sale.

Power Multihulls

If the number of multihulls on display at the major boat shows over the past twelve months is anything to go by, the popularity of this growing segment of the market is showing no sign of slowing down. Catamaran manufacturers are at full capacity, and the brokerage multihull market is still booming. We’ve also seen a marked increase in new power multihulls, including innovative models from Prestige and Bluegame. These impressive vessels are real game changers in the powerboat market, providing significantly more onboard living space, excellent fuel efficiency, and superior stability. We expect this sector to grow exponentially in the coming years.

An office with a view

With the trend for remote and hybrid working showing no signs of disappearing anytime soon, yacht owners are seeking vessels that allow them to work onboard wherever in the world they may be. From large saloons and roomy navigation pods to spare cabins and even purpose-built studies, an onboard office with a view is becoming a popular request. Communication upgrades are also high on buyers’ priority lists. This is often in the form of 4G signal boosters and long-range Wi-Fi antennas to ensure one stays connected when sailing further offshore.

ECO Credentials

While the marine industry still has a long way to go in improving its ECO credentials, buyers are demanding more environmentally friendly solutions. So, more and more boat builders are introducing more sustainable systems into their new boats. For example, the new Lagoon 51 from Lagoon Catamarans features large solar panels as standard, and all upholstery is made from recycled materials. While Sanlorenzo’s line of hybrid and dieselelectric E Motion engines are making waves in the superyacht market. We look forward to seeing increased investment and innovation in this area across the market.