Superyacht sales see sharp increase in price discounts in January 2024
Regarding sales revenues, BOATpro reports a decrease of 4,3% in January 2024 compared to December 2023; compared to January 2023, it records an increase of 36,1%.
An analysis of the data on superyacht sales that took place last January through the BOATpro platform has allowed Boat International to define the percentage of the significant price reduction on sales of pleasure boats with a length equal to or greater than 24 metres.
Looking more closely at sales in the first month of the year, 62 price reductions were applied, resulting in a 121,4% increase in discounts compared to the previous month, December 2023. The total revenue lost from the reductions granted amounted to €63,9 million. The brokers' reason for this decision, according to the specialized magazine, was to deplete inventory to be able to offer clients the new superyachts arriving soon.
The largest price reduction applied in January was for the 44,2-meter superyacht Valeria by Feadship: €9 million, following the previous €6 million. Tww Yachts, the company handling this sale, explained the significant price drop by saying that Valeria is currently being sold "as is," meaning mid-refit (rather than fully completed) and ready for completion by her future owner.
Another significant price drop, this time of €5 million, has been applied to Lürssen's 65,2-metre explorer Polar Star by Eastwind Yachts, which is now asking €54 million.
In terms of sales, 23 yachts, both new and used, changed hands in January, exactly the same number as in December. Three of the twenty-three sales were new (a Mangusta Oceano 44 and two explorer yachts from the 115 and 141 Deep Blue series by Cantiere delle Marche). Prices for the new sales were not disclosed, as was the sale of the 28-meter used yacht Claims to Fame by Pershing, and therefore do not count toward the month's sales total.
Ultimately, in January 2024, completed sales generated €208,6 million, with an average sales value of €11,0 million. Thirty-five new listings were published, corresponding to a value of €295,8 million; with an average value per listing of €8,7 million. There were 62 price drops, corresponding to a total reduction of €62,9 million.
The most expensive yacht sold in January, according to BOATpro, was Oceanco's 66-meter Luna B, with Large Yacht Corp representing the seller and Superyacht Partners representing the buyer. The yacht, which underwent a thorough and extensive 16-month refit that concluded in 2020, had previously been asked for €42,5 million.
Among the most expensive was Tankoa's 49,8-metre Jimmy (ex Grey), which had an asking price of €36,5 million, with Tww Yachts representing the seller (the company representing the buyer wished to remain anonymous).
Considering the total revenues from the 23 January sales, which therefore correspond to 208,6 million euros, we see a 4,3% decrease compared to December. However, compared to those of January 2023, they indicate a slight recovery, with a 36,1% increase in total sales compared to the previous year.
New order announcements are also up: 35 compared to 25 in December 2023, BOATpro reports. The most expensive of these is an NL 50 Plus under construction by the Turkish shipyard Mengi-Yay (€32,9 million requested from Camper & Nicholsons, which has exclusive sales rights). Delivery of this sub-500 GT superyacht, designed by the Nuvolari Lenard duo for the Plus capsule collection, is scheduled for 2026.
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