EXECUTIVE SUMMARY

Sales during the first six months of 2023 were, as expected, slower than the first half of 2022, driven by a market slow down that started in Q3 2022. As predicted earlier this year, sales figures for the first half of 2023 reached close to 400 deals, in line with 2019 levels. Between January and June 2023, a total of 381 yachts were sold for a total value of $3.4 billion, including 266 used and 115 new deals closed, showing that the sales market returns to more normal sales figures following a 2 year high.

In the coming months, we anticipate a stronger sales performance than H1 2023, with more yachts continuing to enter the market, influencing more price reductions. The demand for large yachts, however, will remain high. The second half of 2023 is expected to be in line with 2019 and 2020 figures, with approximately 450 units sold. Based on the current market environment, we anticipate 2023 to close at approximately 850 sales deals globally.

The purpose of this report is to provide an overview of the state of the sales market in the first half (H1) 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 79' (24m) and above. IYC is closely following the sales market through analytics, identifying industry trends and client behaviors which are directly affecting the industry and its performance.

H1 2023: YACHTING INDUSTRY OVERVIEW IN NUMBERS

381 YACHTS SOLD IN H1 2023

35.7m AVERAGE LENGTH OF YACHTS SOLD

$3.4B

TOTAL VALUE OF YACHTS SOLD

SALES MARKET OVERVIEW - KEY TAKEAWAYS

JANUARY - JUNE 2023

$3.4 BILLION TOTAL VALUE OF YACHTS SOLD

With a total of 381 yachts sold in the first half (H1) of 2023, the global yacht sales market generated a total transaction value of $3.4 billion, up by +6% versus H1 2022.

▶ March 2023 recorded the highest value for new build sales ($274 million), while May was the strongest month in value of sales for brokerage ($974 million).

▶ Average deal value (new build and used) was $11,6 million and average length 117'1" (35.7m).