YA C H T S A L E S & P U R C H A S E
Market Report
JANUARY - SEPTEMBER (Q1 - Q3) 2023 OVERVIEW
T H E I N T E R N AT I O N A L YA C H T C O M PA N Y
Contents
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4
EXECUTIVE SUMMARY
6
2023 YTD: YACHTING INDUSTRY OVERVIEW IN NUMBERS
8
SALES MARKET OVERVIEW
10
TOTAL NUMBER OF YACHTS SOLD ABOVE 24M
12
MARKET BALANCE
14
YACHTS SOLD BY CLOSING LOCATION AND SIZE RANGE
16
BROKERAGE YACHTS SOLD BY BUILDER
18
MARKET OUTLOOK
20
IYC HISTORICAL YACHT SALES
22
IYC IN NUMBERS
DISCLAIMER The IYC team has worked hard to ensure that all facts and information printed in this report at the time of publication are correct. IYC cannot accept responsibility for any errors, omission or inaccuracies and is not responsible for or owes any duty of care to any party seeking to rely on the content of the report. Any such reliance shall be taken at the persons’ own responsibility. No part of this report may be reproduced without the permission of IYC.
Executive summary
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During the first three quarters of the year, the yacht sales market recorded a decrease in both new and used sales, continuing the trend that began in the third quarter of 2022. Following a two-year high, and the extraordinary numbers seen in 2021 and 2022, the market is normalizing with figures more in line with 2019. Even though there has been a larger drop in the number of yachts sold, the average asking prices have remained strong, maintaining total sales value at a high. Between January and September 2023, a total of 578 superyachts were sold: 188 new build vessels and 390 brokerage vessels, valued at $5.5 billion. This marks a decrease in the total number of superyachts sold compared to the first three quarters of 2022 (884), 2021 (1014), 2020 (606) and 2019 (597). We expect to see Q4 performing in line with Q3 2023. The purpose of this report is to provide an overview of the state of the sales market in the first three quarters (Q1-Q3) of 2023 and an outlook for the market in the coming months. We take a close look at the superyacht industry and in particular at all yachts 80' (24m) and above. IYC is actively monitoring the sales market by utilizing analytics to track industry trends and client behavior that have a direct impact on the overall performance of the industry. The IYC Intelligence Team
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2023 YTD: Yachting Industry Overview In Number 578
YACHTS SOLD IN 2023 YTD
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117'8" (35.9m) AVERAGE LENGTH OF YACHTS SOLD
$5.5B
TOTAL VALUE OF YACHTS SOLD
rs $12.5M
AVERAGE LAST ASKING PRICE
377' (115m)
LARGEST & MOST EXPENSIVE YACHT SOLD (AHPO - 2021 LURSSEN)
65%
SALES TRANSACTIONS CLOSED OUT OF EUROPE
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Yacht Sales Overview - What You Need To Know JANUARY - SEPTEMBER 2023
$5.5 B
TOTAL VALUE OF YACHTS SOLD
LOWER DEMAND AFTER TWO YEAR HIGH
With a total of 578 yachts sold
From the beginning of 2023 to
in the first nine months of 2023,
date, the yacht sales industry
the global yacht sales market
has seen a decrease in both
generated a total transaction
new and used sales, continuing
value of $5.5 billion, (+11%
a downward trend that began in
versus Q1 - Q3 2022) despite
the Q3 2022. This has resulted
a decline in the number of
in a drop of 35% in the market,
deals closed (-35% versus Q1
bringing sales levels back to a
- Q3 2022). May 2023 was the
more typical range after the
most active month with a total
extraordinary numbers seen in
of 83 transactions generating
2021 and 2022. With a total
$1 Billion in sales value led by
of 578 yachts sold in Q1-Q3
brokerage deals. March 2023
2023, the market seems to be
recorded the highest value for
normalizing after a two year high,
new build sales ($443 million).
and is more in line with 2019 figures.
Do you to read
YACHTS SOLD AT
HIGHER PRICE
Despite a decline in the number of
yacht sold, prices have remained robust, showing a significant
increase in average asking prices by approximately 38% versus 2022. •
Used yachts: $11.1 million
average asking price (+46%
•
YACHTS OV METERS
Market figures c
demand in the 5
range, which reco
versus last year 12% of all deals
the equivalent nu increase vs 2022 at $7,6 REQUEST YOUR 2022 was 8%. Ya million). 98' - 140' (30-50 New yachts: $18.5 million COMPLEMENTARY (44%) COPY OF remained average asking price (+11% year ago. increase vs 2022 at $16.6 million).
THE SALES MARK
O n go i n g d e m a n d fo r l a rge ,
ENJOY READING T pedigree yachts AND contributed to this upward trend leading to firm selling prices in this size segment, w h i l e s h i p y a rd s ex p e r i e n ce capacity constraints for new build projects.
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STRONG INCREAS
u want more?
G SALES SE OF
VER 50
confirm ongoing
50m+ yacht size
orded an increase
r accounting for . In comparison,
umber in Q1-Q3
Racht PERSONAL sales in the
0m) size category
MARKET BALANCE:
MORE YACHTS ENTERING THE MARKET
EUROPE
European sales dominated the
The value of yachts entering the
global market at 65%, with Italy
market during the first three
being the top-performing country,
quarters of the year reached
making up 44% of all yacht sales
$10.5 billion, a +23% increase
in the region during the first nine
compared to the same period in
months of 2023.
2022. The number of new listings (881) exceeded the number of units sold (587) following
a ISSUE market balance Fsteady OUR LATEST OF shift in the versus a second half of 2022.
KET REPORT
MOST SALES CLOSINGS IN
The ratio between yachts entering the market and those
IYC AMONG TOP BROKERAGE FIRMS
IYC sold 31 yachts over 80' (24m) at a total value of over $433 million, ranking #3 in yacht sales globally and #2 among LYBRA members. The majority of sales were completed during the second quarter of the year. IYC represented sellers in twothird of the company’s deals. During the same time period, the company announced 30 new central agency listings.
finding a buyer was 10:7 during
THE FULL EDITION. the first three quarters of 2023, more in line with 2019-2020 ratios.
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