YACHT SALES & PURCHASE
MARKET REPORT Q1 2022 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
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CONTENTS
CONTENTS
4
EXECUTIVE SUMMARY
6
Q1 2022: 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 YACHT SALES 2018 - Q1 2022
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.
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EXECUTIVE SUMMARY Following what can only be described as a record year in the history of yachting, 2022 started at a slightly slower pace - in line with 2019 and 2020 levels. With the market at a first glance appearing to have returned to a more ‘normal’ state, Q1 2022 was characterised by high demand, low supply and superyacht prices remaining strong. With demand remaining high, we are still bullish on 2022 although we do expect to see the market normalising and following trends comparable to the 2017-2020 period. We see opportunities in both the used and new build yacht sales markets. The purpose of this report is to provide an overview of the state of the sales market in Q1 2022 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 24m (80’) and above. IYC is closely following the sales market through analytics, identifying industry trends and client behavior which are directly affecting the industry and its performance. Irini Saranti Global Marketing Director
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Q1 2022: YACHTING INDUSTRY OVERVIEW IN NUMBERS
8,703
SUPERYACHTS IN OPERATION GLOBALLY
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742
SUPERYACHTS CURRENTLY IN BUILD
2,474
SUPERYACHTS CURRENTLY FOR SALE
151
SUPERYACHTS SOLD IN Q1 2022
1,800
SUPERYACHTS ON THE GLOBAL CHARTER MARKET
125
SHIPYARDS EXPECTED TO DELIVER A YACHT IN 2022
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SALES MARKET OVERVIEW JANUARY - MARCH 2022 (Q1)
Following what can only be described as a record year, with 2021 closing at an impressive +48% versus 2020, the new year started at a slightly slower pace - closer to 2019 and 2020 levels. With the market at a first glance appearing to have returned to a more ‘normal’ state, Q1 2022 was characterised by high demand, low supply and superyacht prices remaining strong. During the first three months of the year, a total of 151 superyachts were sold. The equivalent number was 299 in Q1 2021, 182 in Q1 2020 and 166 in Q1 2019. Q1 2022 recorded 31 new yacht sales and 120 brokerage sales.
HIGHER VALUE YACHTS SOLD IN Q1 2022 Q1 2022 stands out compared to previous years in terms of the average value of yacht sold both in the new build and brokerage market. Indeed, new yachts sold had a much higher average asking price, set at €20M, +54% compared to the first quarter of 2021, which had an average price of €13M. The same trend is notable in the yacht brokerage sector, where used yacht prices were +31% higher than in Q1 2021, set at €7,43M versus €5,66M in Q1 2021. These prices reveal a demand for yachts which remains high for both new and used yachts, plus shipyards facing higher prices for good materials.
OVER 50% OF YACHT CLOSINGS IN EUROPE From January to March 2022, 54% of deals were closed in Europe and one third in the United States. Eighty yachts were sold in Europe during Q1 2022 with Italy representing 33% of all deals closed in the region. During Q1 2021, the European market accounted for 41% of total yacht closings, while the US for 47%
NEW YACHT PROJECTS OPPORTUNITIES In a market where the demand remains high, a total of 21 new yachts currently in build were listed for sale during Q1 2022. There are currently 154 new yachts available for purchase with deliveries stretching until 2026. These available yachts have an average length of 37,8m and an average of 360 gross tons. Five sailing yachts are among the current offer. The current average asking price per yacht is €22,4M.
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