Moravia Yachting – Yacht Sales Market Report 2023 by moraviayachting

Yacht Sales MARKET REPORT 2023

AT A G L A N C E

The global fleet

Largest new yachts launched

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How many new yachts were launched in 2023?

Top shipyards 2023 PAG E 1 8

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Growth of eco-friendly vessels The Global Order Book: European shipyards continue to dominate

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Yacht trends 2023 PAG E 2 2

Used yacht sales market report 2023 PAG E 1 0

In summary PAG E 24

New build and used yacht sales market report 2023

About Moravia Yachting

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Yachts for sale global fleet 2023 PAG E 14

While the yacht sales market has experienced a slowdown in 2023 compared to 2022, it remains robust. According to Superyacht Times’ Monaco Yacht Show Market Report 2023, the 30-60 metre second-hand brokerage market has seen the largest dip, while the 60-metre-plus market remains strong. However, orders for new build yachts over 60 metres have dropped slightly, likely driven by a global economic downturn and continuing political instability. Despite this, shipyards remain incredibly busy working on projects that continue to fill the pipeline from the post-Covid boom. In our Yacht Sales Market Report 2023, we explore key market dynamics, including an in-depth look at the new build market, the second-hand brokerage market, the leading shipyards, the most prominent yacht launches of 2023, and global yachting trends that are shaping the industry.

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The global fleet According to the latest data, as of December 2023, there were 5,791 superyachts over 30 metres in operation globally. Motor yachts continue to dominate the global yacht fleet, totalling 4,914. In comparison, there are 877 sailing yachts. The vast majority of the global yacht fleet measures between 30 to 40 metres, accounting for 60% of the entire fleet. Yachts measuring 40 to 50 metres make up 22% of the total global fleet. Yachts measuring 50 to 80 metres account for 12%. Just 3% of the global yacht fleet measures over 80 metres.

“ Motor yachts have traditionally dominated the superyacht market versus sailing yachts due to the higher operational versatility, charter demand, and general comfort amenities that they offer to non-sailing enthusiasts. In particular, the 30-40-metre market allows an optimum entry point from a running cost point of view to the superyacht and tri-deck arena, where today’s stunning designs and advanced materials produce features that once were available only on much larger yachts.” A DA M PA PA DA K I S H E A D O F S A L E S, M O R AV I A YAC H T I N G

4 Sources: Superyacht Times, BoatPro and Moravia Yachting

Global superyacht fleet as of December 2023

60%

22%

Between 30 to 40 metres

Between 41 to 50 metres

Over 80 metres

New yacht launches 2023

81 64

Between 30 to 40 metres

6 Source: BoatPro and Moravia Yachting

Between 41 to 60 metres

Between 61 to 80 metres

Between 81 to 100 metres

Over 100 metres

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How many new yachts were launched in 2023? To date, 2023 has seen an exciting number of new yacht launches, including ground-breaking vessels from the world’s leading shipyards. According to the latest data from Superyacht Times, a total of 167 new yachts over 30m were launched in 2023. This high number is reflective of the post-Covid-boom in

“ Interestingly, the 100m-plus sector has performed disproportionally well this year. One theory is these owners contribute a comparatively smaller proportion of their net worth towards yachting, meaning the larger yacht segment is less elastic to any macroeconomic effects.”

new yacht orders, with those projects now being delivered. S A M T U C K E R 81 yachts between 30 to 40 metres were launched in 2023

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64 yachts between 41 to 60 metres were launched in 2023 13 yachts between 61 to 80 metres were launched in 2023 3 yachts between 81 to 100 metres were launched in 2023 6 yachts above 100 metres were launched in 2023

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The Global Order Book: European shipyards continue to dominate European shipyards continue to dominate the Global Order Book, which is compiled annually by Boat International. And 65% of all new yacht builds from 2013 to 2023 have been completed by the top 30 superyacht builders. Azimut Benetti maintains its position as the leading shipyard, with 168 projects completed in 2023.

“ Owners continue to award orders to those shipyards that commit to excellence of craftsmanship, design innovation, and, lately, environmental sustainability solutions. European shipyards continue to dominate the Global Order Book both in terms of numbers and pedigree brands.”

Sanlorenzo came in second with a total of 128 projects, and Ocean Alexander with 73 projects.

A D A M P A P A D A K I S H E A D O F S A L E S, M O R AV I A YAC H T I N G

8 Source: BoatPro and Moravia Yachting

Used yacht sales 2023 160

57 16

Between 30 to 40 metres

10 Source: BoatPro and Moravia Yachting

Between 41 to 50 metres

Between 51 to 60 metres

Between 61 to 80 metres

Over 80 metres

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Used yacht sales market report 2023 The used yacht sales market has remained robust despite witnessing a slight downward trend compared to the last few years. According to Superyacht Times, in 2023 the following used yacht sales is estimated to be: 160 yachts for sale between 30 to 40 metres 57 yachts for sale between 41 to 50 metres 16 yachts for sale between 51 to 60 metres 26 yachts for sale between 61 to 80 metres 9 yachts for sale over 80 metres

“ 2023 has seen continued high levels of demand to purchase in the new build and brokerage sectors, with a lag effect still present from the pandemic where demand outstripped supply. This resulted in a continued lack of availability in the new build sector and a sustained increase in activity in the brokerage sector with, in some cases, an increase in brokerage prices and the overall volume of transactions. However, the past six months have seen a correction and cooling of the market with hundreds of price reductions being announced over this period, thereby creating more of a buyers’ market. Availability of build slots has also improved, and more brokerage yachts have recently come to market. Supply levels in the latter half of 2023 have been better than previously in 2022.” R O B L A N D E R S A L E S B R O K E R , M O R AV I A YAC H T I N G

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New build and used yacht sales market report 2023 According to data from BOATPro, there were 389 yacht sales (both new build and used) in 2023 compared to 550 in 2022 and 752 in 2021. In asking price value, 2023 saw €4.86 billion worth of sales compared with €4.94 billion in the entirety of

“ Demand has been very high in the past few years, so sellers have been expecting higher and higher prices paid. As the market is now shifting in favour of buyers, we are seeing more ‘realistic’ asking prices as owners signal they are keen to get a deal done.”

2022 and €6.51 billion in 2021. The pre-pandemic years of 2019 and 2020 saw corresponding sales values of

S A M T U C K E R

€3.6 billion and €3.8 billion respectively.

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A cooling market means 2023 has seen more price drops than last year. According to data from BOATPro, there have been 201 price drops, equivalent to 159.4 million euros in Q3 2023. This is a 47% increase compared to the same quarter in 2022, which saw 137 price drops, equivalent to 112.9 million euros.

12 Source: BoatPro and Moravia Yachting

Sales in asking price value €6.51b

€4.94b

€3.6b

€4.86b

* €3.8b

2019

2020

2021

2022

2023

* (from January to September)

Yachts available for sale December 2023

741 377 55

Between 30 to 40 metres

14 Source: BoatPro and Moravia Yachting

Between 41 to 60 metres

Between 61 to 80 metres

Between 81 to 100 metres

Over 100 metres

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Yachts for sale global fleet 2023

Biggest yachts sold 2023

According to the latest data, there are 1,189 yachts for

The biggest brokerage sale in 2023 was the Lürssen-built,

sale, both new and used, with the 30 to 40 metre range

full-custom superyacht AHPO, now named LADY JORGIA.

dominating the yachts for sale market.

While the precise sales price is unknown, the 115.1-metre superyacht was listed for sale at 330 million euros.

741 yachts between 30 to 40 metres available for sale 377 yachts between 41 to 60 metres available for sale 55 yachts between 61 to 80 metres available for sale 11 yachts between 81 to 100 metres available for sale

The second biggest used yacht sale of 2023 to date was the Benetti custom motor yacht LANA, now called MAR. The 107-metre superyacht is one of three Benetti yachts to exceed the 100-metre mark.

5 yachts above 100 metres available for sale © Lürssen / LADY JORGIA [Data updated 2nd January 2024. Source – Superyacht Times]

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Largest new yachts launched

145m

LUMINANCE Some exciting new yachts hit the water in 2023, with European shipyards including Lürssen, Feadship, and Oceanco, dominating the launches of the world’s largest yachts this year.

Builder: Lürssen Motor yacht LUMINANCE is the seventh-largest superyacht built by the pedigree shipbuilder and is ranked the 11th largest yacht globally. Construction on LUMINANCE began in 2018, and she underwent sea trials in spring 2023.

125m KORU

Builder: Oceanco Sailing yacht KORU is the world’s largest sailing yacht. Built for Amazon founder Jeff Bezos, the launch of this recordbreaking three-masted schooner was a highlight for many sailing enthusiasts.

16 Source: BoatPro and Moravia Yachting

114m

90m

Builder: Lürssen

The bare hull of PROJECT COSMOS was launched in March

The 90-metre PROJECT 1601, now named NORN, embarked

2023, and the yacht is currently being outfitted. PROJECT

on her maiden voyage at the end of April after departing

COSMOS will be one of the world’s first superyachts to be

Lürssen’s shipyard in Norway. This expedition-style vessel

fitted with pioneering fuel cell technology.

boasts a number of striking design features, including

PROJECT COSMOS

PROJECT 1601/NORN

a reverse bow and narrow rectangular windows.

105m

84m

Builder: Oceanco

Builder: Feadship

1050H is not only one of the largest superyacht launches of

PROJECT 710, now named OBSIDIAN, is considered one

2023 but also an incredibly exciting refit project, with Oceanco

of the shipbuilder’s most technically advanced projects,

transforming an older superyacht into an entirely new yacht

with every yacht design norm questioned and challenged.

that is future-proof. The refit is reported as unprecedented in

OBSIDIAN is an exciting hybrid yacht that utilises Feadship’s

scope and demonstrates the growing trend in owners turning

Advanced Electrical Drive, the first in a new generation of

to extensive refits instead of building from scratch.

reduced-emissions vessels from the Dutch shipbuilder.

1050H

PROJECT 710/OBSIDIAN

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Top shipyards 2023

Lürssen The highly acclaimed German shipyard Lürssen has long been

The world’s leading shipyards continue to dominate the construction of the world’s most pioneering luxury yachts. Shipyards that have launched pioneering vessels in 2023 include:

considered the world’s shipbuilder of choice for the largest custom superyachts, and 2023 has been no exception with Lürssen dominating the market with regard to the most significant superyacht launches. The shipyard is known for continually pushing the boundaries of shipbuilding in terms of both design and technology. This year, Lürssen launched PROJECT COSMOS, one of the world’s first superyachts powered by pioneering fuel cell technology.

Feadship Feadship is another pioneering European shipyard. Earlier this year, Feadship launched the superyacht OBSIDIAN, formerly known as PROJECT 710, an exciting hybrid yacht that boasts Feadship’s Advanced Electrical Drive. At the 2023 Monaco Yacht Show, Feadship also showcased its concept yacht DUNES, a stunning 83-metre vessel with significantly reduced energy needs, a big leap towards the 18 Source: BoatPro and Moravia Yachting

luxury yacht builder’s goal of net-zero superyachts.

Tecnomar

Damen

Luxury boat builder Tecnomar, part of the Italian Sea

Damen has continued to refine its SeaXplorer range, with

Group, launched the futuristic yacht THIS IS IT, a striking

its latest launch the SeaXplorer 60, being an innovative

catamaran that breaks traditional yacht design standards.

hybrid explorer vessel that offers the luxury of a traditional

The head-turning 43.5-metre yacht enjoyed its global

superyacht yet the required ruggedness of an expedition

launch at 2023 Monaco Yacht Show, demonstrating how

vessel. At 60 metres, this incredible go-anywhere superyacht

the world’s leading yacht builders are not afraid to challenge

taps into the growing desire for owners to explore more

conventional design standards to create a new breed

remote destinations. The SeaXplorer range is built to ice-

of vessel.

class standards and boasts extensive storage for provisions for long-range cruising. Damen’s SeaXplorer range is regarded as the future of luxury explorer yachting.

Oceanco Pedigree shipbuilder Oceanco is no stranger to the construction of some of the world’s most ground-breaking vessels, and 2023 was no exception with the launch of the sailing yacht KORU. This stunning 125-metre, three-masted schooner is the largest sailing vessel in the world. Built for the billionaire founder of Amazon, Jeff Bezos, KORU boasts an impressive selection of onboard amenities, including three Jacuzzis and a swimming pool.

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Growth of eco-friendly vessels Sustainability remains the watchword within the yacht industry as it collectively aims for a greener and more sustainable future. Major yacht shows, such as Monaco Yacht Show and Cannes Yachting Festival, had a distinct emphasis on sustainability, with a growing number of eco-friendly yachts coming to market. Several pioneering green superyachts were unveiled in 2023, showcasing the industry’s desire to minimise

“ There is a shift in design towards a different use of space, in particular the cockpit and the stern, which is now more open or featuring opening side balconies. The cockpit is directly connected with the swim area and sliding doors flow through to the saloon. As a result, the swim area, aft pool, cockpit and saloon become a unified area that guests can enjoy day and night.”

its impact on the environment. A L E S S A N D R O D I O M E D I MASK Architects, for example, unveiled renderings for a cutting-edge 85-metre hydrogen-powered superyacht, ONYX H2-BO 85. This ground-breaking eco-friendly vessel will be powered by onboard hydrogen production to minimise its environmental impact. As previously mentioned, Feadship also unveiled its new superyacht concept, DUNES, which is designed to help the luxury shipbuilder reach its vision of net-zero superyachts. The luxury superyacht will utilise sophisticated fuel cell technology and a radical propulsor to eliminate up to 95% of negative environmental impact figures.

20 Source: BoatPro and Moravia Yachting

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Yacht trends 2023 The yachting industry continues to grow and evolve.

Connected technologies

Key trends have dominated the 2023 yacht industry,

Onboard-connected technologies are also revolutionising

including the constant push for sustainability, the ever-

the yachting industry, ensuring owners enjoy instant

increasing rise of radical yacht designs that challenge

access to the internet no matter where they are in the

traditional yacht design concepts, yacht layouts that

world. Satellite communications technology is now

are more flexible to suit the lifestyle habits of today’s

more advanced than ever. Elon Musk’s Starlink Maritime

UHNWIs, onboard technological advances, and exciting

system is one example of sophisticated marine satellite

collaborations. This year also saw the launch of the

communications technology that expanded in 2023,

world’s first tokenised superyacht.

offering high-quality internet connection anywhere at sea.

Enhanced space

Futuristic yacht design

Yachts in the 30 to 40-metre range dominate both the

There is a growing movement to challenge traditional yacht

new build and used yachts sales markets. However,

design. This could be seen clearly with the launch of THIS

clever design solutions and considered layouts mean

IS IT, a futuristic catamaran with an asymmetrical layout that

these yachts do not compromise on space while having

is anything but traditional. The design takes its inspiration

the added appeal of lower operating costs. Fold-out

from the automotive world, while its ultra-luxurious interiors,

balconies, extendable swim platforms, clever built-in

spectacular volume, and onboard amenities are designed to

storage solutions, and flexible spaces maximise space

offer an exceptional onboard experience.

on board. Tokenised superyachts Clever design solutions

2023 also saw the launch of the first tokenised superyacht

Yacht interiors are also becoming increasingly clever

by Cloud Yachts, heralding the Web3 era in the yachting

in their ability to hide the latest technological advances,

industry. The tokenised yacht is a 94ft Sunseeker

with clean designs incorporating integrated user

vessel, with the NFT announced at the 2023 Palm Beach

interfaces, hidden TVs, remote controls, and gadgets.

International Boat Show.

22 Source: BoatPro and Moravia Yachting

Cross-collaborations Finally, 2023 saw a growing number of cross-collaborations with the automotive industry, including Lamborghini, BMW, Ferrari, Brabus, and Porsche. From ultra-luxurious superyachts to tenders and water toys, these exciting collaborations are creating a new breed of luxury yacht. Eco-conscious materials Sustainability has seeped into every element of the yacht industry, including build and design. The yachting industry is increasingly seeing more eco-conscious material choices in yacht interiors, including ones that are more reflective of nature, be it in the choice of natural materials, soft colour palettes, or flowing shapes. Yacht design is increasingly about creating a harmonious onboard environment. Submersibles Submersibles are growing in popularity, mirroring UHNWI’s thirst for exploration, with luxury yacht brokers noting that

“ A yacht broker should always be at the forefront of market and technological changes that shape the demand and nature of new build and second-hand yachts. Working hand-in-hand and communicating with yacht managers, charter brokers, marine lawyers, yards, bankers, designers, and, of course, our clients on a daily basis, we continuously try to maintain a holistic perspective of what drives demand, which yachts offer the best value for money for our clients and which are those services that will make the yacht owning experience as smooth and efficient as possible. We ‘listen’ to our clients and always ensure market knowledge, transparency, and discretion are the foundation for every transaction.” A D A M P A P A D A K I S H E A D O F S A L E S, M O R AV I A YAC H T I N G

submersibles are the water toy of choice for yachts large enough to accommodate one. Submersibles enable individuals

The growing use of glass

to explore never-before-seen species, view remote shipwrecks,

The demand for glass in superyacht construction

and conduct scientific research. Tapping into this trend, U-Boat

continues to grow as yachting enthusiasts seek to enjoy

Worx released the first images and descriptions this year for

a seamless connection with the surrounding ocean.

its planned US$25 million submersible superyacht, which

The world’s finest superyachts now use unprecedented

will serve as both a surface-going superyacht and a luxury

amounts of glass in their structures, enhancing the feeling

submarine, creating an entirely new breed of vessel.

of spaciousness and flooding the interiors with light. 23

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In summary Motor yachts continue to dominate the global yacht fleet, with the vast majority between 30 to 40 metres – an optimum entry point from a running cost point of view. The total global yacht fleet stands at 5,791.

Top shipyards 2023 European shipyards continue to reign supreme, including Lürssen, Feadship, Tecnomar, Oceanco, and Damen. These shipyards are known for their superb design, exquisite craftsmanship, and pioneering use of technology. As such, these yachts are sought after and boast high resale values. Growth of eco-friendly vessels

Used yacht sales market

This year saw the launch of several pioneering eco-

2023 has seen a slight dip in the used yacht sales market

friendly yachts, demonstrating the yacht industry’s

compared to the post-pandemic high in 2022, driven by a

commitment to becoming more sustainable. This was

lack of inventory, a global economic slowdown, and political

also underpinned by leading yacht shows that had a

uncertainty. As of December 2023, 268 used yachts have

distinct emphasis on green technologies.

changed hands. Demand, however, still remains high compared to the pre-Covid era and will likely continue

Yacht trends 2023

its upward trend.

Top yacht trends include enhanced space, clever design solutions, connected technologies, futuristic yacht design,

Largest yachts announced

tokenised superyachts, cross-collaborations, sustainability,

2023 saw some exciting mega yachts launched, including

submersibles, and the increasing use of glass. The yachting

the 145-metre LUMINANCE, the 125-metre KORU, and

industry is nimble, constantly evolving to reflect the

the 114-metre PROJECT COSMOS. European shipyards

changing needs of yacht owners.

dominated the launch of 2023’s largest vessels.

24 Source: Superyacht Times and Moravia Yachting

About Moravia Yachting Moravia Yachting is a leading yacht brokerage that boasts exclusive industry intelligence and market expertise. Our Yacht Sales Market Report 2023 shows that 2024 is set to be another buoyant year, and our luxury yacht brokers stand ready to empower discerning yacht enthusiasts to navigate the yacht market. If you would like to buy, sell, or charter a luxury yacht, contact our team today. With over six decades of luxury yacht expertise, we offer the security and stability that only the best yacht brokerages can offer.

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