For Yachts, Bigger Is (Mostly) Better

The Pearl 95, as the name implies, is 95.9 feet long and has a cruising range of 380 nautical miles.

“With sailing, new boaters have to take lessons, and they can start using their motorboats much more quickly. You can go to Nantucket for lunch, or Block Island and back in a day—something you can’t do in a sailboat.”

JENNIFER STEWART

President Berthon International’s U.S. division

“it’s a feeding frenzy!” said jennifer stewart, president

of the yacht broker Berthon International’s U.S. division.

Powerboats are leading the charge. “With sailing, new boaters have to take lessons, and they can start using their motorboats much more quickly. You can go to Nantucket for lunch, or Block Island and back in a day—something you can’t do in a sailboat.” Berthon’s most popular sizes for powered boats are 36 feet to 48 feet, Ms. Stewart said.

But the largest yachts—some of which are virtual cities on the water, 450 feet or longer—are also selling briskly. The strongest segment in larger yachts is the 120- to 150-foot category, accounting for almost half of the global market. But Allied Market Research (AMR) said boats of more than 250 feet are gaining because they’re getting easier to handle, and the ultrawealthy population is growing.

Georges Bourgoignie, a sales broker at Fraser in Miami, explained that “people are spending money like water on houses, boats and planes,” adding that new orders face delivery at the end of 2023—“and it will take longer for the bigger boats we deal in.”

The global luxury-yacht market reached $6.5 billion in 2021, up from $5.8 billion in 2020. It’s expected to grow to $11.8 billion by 2027, said ResearchAndMarkets.com. Allied Market Research (AMR) projects $12.8 billion by 2031, fueled