EXECUTIVE SUMMARY

Following the active 2022 yacht sales market, where 1,068 yachts were sold, the first quarter of 2023 saw a return to more normal sales levels. Q3 2022 marked the beginning of a slow-down in terms of sales and a correction in the market, with more yachts listed for sale compared to the number of yachts sold, which continued to be reflected in Q1 2023. Between January and March 2023, a total of 145 superyachts were sold: 62 new build vessels and 83 brokerage vessels, worth a total of $1 billion. This marks a decrease in the total number of superyachts sold compared to the first three months of 2022 (331), 2021 (330), 2020 (201) and 2019 (175).

It is expected that the market will remain viable in 2023 with strong demand, although at a lower rate, and more yachts entering the market. Prices are anticipated to normalize in the coming months.

The purpose of this report is to provide an overview of the state of the sales market in the first quarter (Q1) of 2023 and an outlook for the market in 2023. 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.

The IYC Intelligence Team

Q1 2023: YACHTING INDUSTRY OVERVIEW IN NUMBERS

145 YACHTS SOLD IN Q1 2023

$11.7M

AVERAGE LAST ASKING PRICE OF YACHTS SOLD IN Q1 2023

$474K

AVERAGE PRICE REDUCTION IN Q1 2023

$1B

TOTAL VALUE OF YACHTS SOLD

82m

LARGEST BROKERAGE YACHT SOLD IN Q1 2023 (DEVONPORT SARAFSA)

368 GT

AVERAGE VOLUME OF USED YACHTS SOLD