The yachting market saw a notable slowdown in 2023, with new superyacht sales down 17% compared to the previous year. This decline was more pronounced in speculative new-build projects, which saw an 18% drop, while custom-built projects for specific clients fell by a more moderate 12%. Interestingly, builders began more speculative projects in 2023 than in the previous year, leading to increased availability in this category, even as demand softened.
Sales declines varied across size segments, with yachts over 80 meters seeing the steepest percentage decrease, dropping by 40% from ten sales in 2022 to just six in 2023. Meanwhile, the 30-40 meter segment saw the greatest decline in terms of volume, with 23 fewer sales, ending the year at 108 units.
However, the 60 to 80-meter segment showed resilience, performing relatively well amidst the broader slowdown. This size range offers an appealing balance of expansive onboard amenities without the extreme scale of yachts over 80 meters, likely driving continued interest among buyers who value space and luxury but seek a more manageable vessel.
In the pre-owned market, used superyacht sales fell by 27%, totaling 296 transactions in 2023. Interestingly, the average size of used yachts sold increased from 402 Gross Tonnes (GT) in 2022 to 510 GT in 2023, suggesting a growing buyer preference for larger, more voluminous yachts. The average final asking price per GT for used yachts also rose by 13% to €31,020, marking the third consecutive year of price increases. This trend highlights continued demand for spacious, high-quality pre-owned yachts, even as the overall market experiences a period of recalibration.