Introduction
Without a doubt, the Monaco Yacht Show is the most important event for the superyacht industry each year.
Therefore, SuperYacht Times is proud to be an official Media Partner of the show, with our subscription service SuperYacht iQ once again returning as the official Intelligence Partner. Since 2019, we have been releasing the Monaco Yacht Show Market Report together with the Monaco Yacht Show. This 2025 edition of the report will bring you up to speed with the latest developments in the market.
As we gear up for the 2025 edition of the Monaco Yacht Show, we take a closer look at new-build and used yacht superyacht sales which have been going through some turbulent times so far this year. The downward trend that set in after the peak year of 2021 continues, but the market upheaval predicted at the beginning of 2025 following the announcement of imposition of trade tariffs by the Trump Administration in the US, doesn’t quite seem to have materialised. However, new yacht sales up to about 45 metres are definitely down compared to 2024, although the larger sizes of yachts appear to be relatively unaffected, while used yacht sales so far in 2025 are actually slightly up compared to the same period of 2024. We were also hearing from various builders that they saw an uptick in inquiries just before the summer holidays… More about that further on in this report.
Meanwhile, completions of new superyachts appear to be heading for another high, with well over 200 completions expected, possibly even exceeding the 228 we noted in 2024. Shipyards and their supply chains really ramped up capacity following the 2021 order boom and kept pumping out the boats. They are now, however, confronted with a weakening new-build sales market, leading to an increased availability of dealer stock boats and in-build speculative projects.
As always, the Monaco Yacht Show 2025 promises to be the ultimate showcase of the finest new and pre-owned superyachts the industry has to offer. Among this year’s highlights are the 89-metre Amels yacht Here Comes The Sun, the 79.5-metre Feadship yacht Valor, the 77.7-metre Amalya by Admiral Yachts, and the 72-metre After You. With more announcements continuing to roll in as this report was being finalised, attendees can expect an impressive lineup of both new launches and brokerage yachts at the show.
Our colleagues at SuperYacht Times are looking forward to meeting you at the show at our stand number DS97. Let us show you all the upgrades to our YachtEye infotainment system, or give you a demo to show you what you can do with an iQ subscription, or let our Sales colleagues inform you about how we can help your company present itself to our audience of yacht owners, industry professionals and enthusiasts. SuperYacht Times is also deeply involved in the Monaco Yacht Show Summit, where we are organising panel discussions on topics such as design, innovation and environmental sustainability in yachting, so make sure to head over to the Design & Innovation Hub as well!
RALPH DAZERT
Head of Intelligence
ralph@superyachttimes.com
Monaco Yacht Show Market Report 2025 by SuperYacht Times
WRITTEN & EDITED BY
Ralph Dazert
Adil Zaman
Francesca Webster
PHOTOS BY
SuperYacht Times
DATA & RESEARCH BY
Ralph Dazert
Adil Zaman
Syrine Mellakh
DESIGN BY
Beatriz Ramos
PUBLISHED BY
SuperYacht Times
Amsterdam
The Netherlands
September 2025
© SuperYacht Times 2025
The Fleet at Monaco Yacht Show 2025
€4.3 billion+
50 120 70
VALUE OF SUPERYACHTS OVER 30 METRES On display at Monaco Yacht Show 2025
SUPERYACHTS ON DISPLAY (107 motor yachts / 13 sailing yachts)
NEW SUPERYACHTS On display
USED SUPERYACHTS On display
63 62 2019 47m 10
SUPERYACHTS FOR SALE On display
635 GT 5.4km
TOTAL LENGTH Of the yachts on display
AVERAGE LENGTH Of the yachts on display
AVERAGE VOLUME Of the yachts on display
AVERAGE BUILD YEAR Of the yachts on display
SUPERYACHT BUILDERS Represented in the fleet on display
BUILD COUNTRIES Represented in the fleet on display
Quick Industry Facts
What is a superyacht?
At SuperYacht Times, we define a superyacht as a motor or sailing yacht with a length of 30 metres or more. The yacht should be used privately or made available for charter on the basis that the client charters the whole yacht. As such, residential ships like the Ulyssia or Njord projects, or small exclusive cruise ships marketed as “yachts” like the Four Seasons Yachts project, are not classified as yachts by us.
On the other hand, we do consider yacht support vessels and private research vessels to be yachts. They are often managed by yacht management firms, have yacht crews and more often than not, their owners will have a ‘regular’ superyacht as well.
Similarly, basic conversions for private use of, for example, old tugs or fishing vessels are included in the superyacht fleet by SuperYacht Times.
How many superyachts are there?
As of early August 2025, there were 6,174 superyachts over 30 metres in operation. The fleet was divided between 5,259 motor yachts and 915 sailing yachts.
The graph on the next page shows that the overwhelming majority of this fleet (63%) measures between 30 and 40 metres. Yachts between 40 and 50 metres also account for a significant share at 21%, while the spectacular large superyachts over 80 metres account for just 3% of the fleet.
New superyachts
As of early August 2025, 588 new superyachts over 30 metres were in-build, divided between 548 motor yachts and 40 sailing yachts. 39% of these yachts fell in the 30-40 metre category. This is interesting as it means that larger yachts over 40 metres dominate the construction book, whereas they are still in the minority in the operating fleet: evidence of the growth in size of new yachts. Meanwhile, just 7% of the yachts in-build are sailing yachts. For the operating fleet, this share is much higher, at 15%, so the growth of the motor yacht fleet is outpacing that of the sailing yacht fleet.
Over the last five years, on average around 184 superyachts were completed, representing a total value of around €4.5 billion per year. Completions have been going up since 2021 as a result of the sales boom witnessed during 2021 and 2022, which set in motion an expansion of production capacity at shipyards and in their supply chains.
Although many different shipyards build these superyachts, a relatively small core group of superyacht builders dominate the industry.
Over the past decade, 296 shipyards worldwide have either delivered or are building a superyacht, yet only 227 have completed a 30m+ yacht since 2015. More than half of these are concentrated in Turkey, Italy and the Netherlands, with Turkey leading in yard count (55) but averaging just 2.7 deliveries per yard, among the lowest productivity rates globally. By contrast, Italy’s 53 yards average 16 yachts each, the highest in the world, closely followed by Taiwan’s 14. While 122 shipyards have delivered two
or more yachts in the last 10 years, just 35 have reached 10 or more, underscoring how few builders maintain consistent annual output.
Today, 218 shipyards remain active, but only 142 are currently building superyachts, including 42 working on their first-ever superyacht.
Used superyachts
The used superyacht market in 2025 is showing early signs of stabilising after several years of tightening supply. As of early August 2025, the %age of available superyachts for sale over 30 metres stood at 17%, almost the same as last year. So while the trend of declining availability of used yachts witnessed since 2021 seems to have bottomed out, it will still be challenging to find an attractive used yacht for sale.
Florida remains the key region for used yacht sales, with 52 yachts over 30 metres sold there so far this year. Yachts in Italy, France, Greece, Turkey and Spain have continued to attract buyers, contributing 25, 21, 17, 12 and 10 respectively.
The largest publicly announced used superyacht sale in 2025 so far is the 83.5-metre Feadship motor yacht Savannah, which was sold in April 2025. The runners up were the 80.1-metre Damen support yacht U-81 and the 80-metre Oceanco motor yacht Aalto.
Operating superyacht fleet by size 30m+ August 2025
Superyachts in build by size 30m+ August 2025
The superyacht refit industry
Over the course of 2024, our Intelligence team recorded close to 2,200 refit yard visits for yachts over 30 metres in our subscription service, SuperYacht iQ. The United States was the leading refit destination by share of visits, accounting for 21% and servicing yachts at 29 facilities nationwide. It is the top country for yachts in the 30 to 40 metre segment. Spain ranked second overall with 20 % of visits and leads the 60 metre plus segment, driven by world-class hubs in Palma and Barcelona. Italy operates the largest network of refit facilities in the world with 40 facilities in 2024, up from 34 in 2023 and is the leading country in the 40 to 60 metre segment. Other notable facility counts in 2024 include Turkey with 23, the Netherlands with 19, France with 13.
Industry Update
New-build sales: still behind but catching up
The new-build market entered 2025 under pressure, with uncertainty surrounding the US market, import tariff policy under the Trump Administration and a slowdown in Europe weighing on sentiment. This combination has left brokers and shipyards cautious. The market for GRP yachts built to a model, which is dominant up to about 45 metres, has been among the hardest hit. Well-known manufacturers such as Sunseeker and Princess have announced staff reductions in response to weaker demand.
As of 25 August 2025, share prices for several major yacht builders had fallen over the previous twelve months. Sanlorenzo was down 14% year-on-year, while The Italian Sea Group had declined by 43%. Alexander Marine, the parent company of the Taiwanese builder Ocean Alexander, had dropped by 36% and US yachting giant MarineMax, a significant player in the sale of GRP-hulled boats and yachts up to 40 metres, had fallen by 14%.
We also observed that leading GRP yacht builders are holding more speculative new-builds and dealer stock boats than a year ago. This means a greater share of capital is tied up in completed yachts waiting to be sold, lengthening inventory turnover times and increasing financial pressure on shipyards.
From January to end July 2025, new-build sales fell about 10% compared to the same period in 2024, from 111 to 100 units. Beneath that headline, trends diverge. Sales under 50 metres are down 12%, driven by a sharp drop in sailing yacht sales in the 30–40 metre range, while sales over 50 metres are holding steady. Motor yacht sales in the 30–40 metre segment are flat, but speculative builds now account for almost double last year’s share, signalling longer sales cycles. Sales of client-commissioned builds have halved, while speculative projects have ticked up slightly.
In the 40–50 metre range, sales are down mainly due to weaker demand for yachts up to 45 metres. Above that size, volumes are nearly unchanged. Sales between 50 and 60 metres are stable and 60–80 metre sales have risen slightly. The 80 metre-plus segment is one project behind on the same period of 2024, but a large number of negotiations could push the year-end total above last year. Yards report that buyers are taking longer to commit and are negotiating harder, especially at the top end, where price flexibility is limited and order backlogs vary between shipyards.
Used market holds steady with larger yachts leading
The market for used yachts over 30 metres appears to be stable compared to 2024 in terms of the number of yachts sold, with 200 used yachts sold as of 31 July 2025, compared to 199 during the same period of the previous year. Total gross tonnage (GT) sold, however, is up by 8% to 93,500 GT, indicating that the average used yacht sold during 2025 so far is larger than in 2024.
The total value of yachts sold so far in 2025 is more difficult to estimate, as we have already counted no fewer than 17 off-market deals this year, including some very large yachts. Even so, the figure is well over €3 billion, which is similar to our estimate for the same period in 2024. On paper, that is not a bad result, but we are only in early August at the time of writing.
Conclusion
While the new-build market up to around 45 metres is facing challenging conditions, larger size segments are stable or growing. The used market shows the same split, with weaker activity below 50 metres and growth above. With the critical third quarter and major yacht shows approaching, the coming months will be decisive in determining how 2025 shapes up for the global superyacht market.
A closer look at the markets
New yacht sales
HISTORIC DEVELOPMENT AND FORECAST
In 2024, 195 new superyachts over 30 metres were sold, almost back to 2019 levels and ahead of the 180 sales we forecast in our annual market report The State of Yachting 2024. While we initially thought the market could potentially see an upturn in 2025, developments throughout the year have suggested to us that this will likely not be the case yet. A boost in sentiment followed the election of Donald Trump in November 2024, as US buyers, often more active under Republican administrations, returned to the market after pausing purchases in late 2024. However, the administration’s extensive trade measures first announced in March 2025 have created uncertainty, especially for European yards and also appear to be having some negative effects on the US economy.
By mid-August 2025, sales were slightly behind the same period in 2024, though reporting delays make the picture incomplete. We cautiously estimate year-end sales at around 160 to 180 new yachts over 30 metres.
NEW YACHT SALES BY TYPE
Sailing yacht sales rose from 12 in 2023 to 15 in 2024, driven almost entirely by projects between 30 and 40 metres. Notable performers included Nautor Swan, Southern Wind and Baltic Yachts, with sailing catamarans increasing from two sales in 2023 to five in 2024. So far in 2025 new sailing yacht sales are far behind on 2024, with just three sales recorded so far, with very limited availability of attractive build slots thought to be a contributing factor to this drop in sales.
NEW YACHT SALES BY BUILD COUNTRY
In 2024, new-builds were sold from 12 countries. Italian builders saw the largest drop, down 26 units, while Turkey fell by five to 18 sales. The Netherlands gained two to reach 16 sales. Finnish builders rebounded from zero to six, aided by demand for large sailing yachts. The UAE added five sales, Taiwanese builders one and German yards delivered the highest average gross tonnage at 5,669 GT across five yachts.
NEW YACHTS FOR SALE AND SPECULATIVE PROJECTS
At the start of 2025, 691 yachts over 30 metres were under construction, with 219 for sale, 32% of the order book, the second year of rising availability. Growth is driven by speculative projects, especially in the 30–40 metre segment, where they account for nearly half of builds. In 2024, 113 speculative projects were started (up from 92 in 2023), with net availability rising by 42 to 188. In-build yachts offered for sale by their owners also increased from 25 to 31, often as sellers sought to capitalise on price gains since placing their orders.
Used Yacht Market Review and Outlook
The used superyacht market entered 2025 in a more stable position after several years of tightening supply. As of early August 2025, 1,080 yachts over 30 metres were listed for sale, representing 17% of the operational fleet, almost the same as last year. This marks a shift from the ultra-constrained conditions of 2021 and 2022, when availability hovered at around 15%. While the decline in supply that began in 2021 appears to have bottomed out, attractive, wellpriced yachts remain scarce and competition for the best opportunities is still strong.
Sales activity has held steady. In 2024, approximately 300 used yachts changed hands, down from 311 in 2023 and well below the 408 recorded during the 2022 peak. As of July 2025, 200 yachts had been sold, virtually the same as the 199 in the same period last year, but the average size of yachts sold is increasing. Total gross tonnage transacted is up 8% year-on-year to 93,500 GT, indicating that buyers are focusing more on larger, higher-value assets.
Pricing trends from 2024 have carried into 2025. In 2023, the average price reduction on a used yacht over 30 metres was €676,000, equal to 5.6% of the asking price. By 2024 this had grown to €799,000, or 7.9%, removing a total of €665 million from the market. By mid-2024, €513 million in reductions had already been recorded, suggesting sellers were becoming more willing to meet buyer expectations. This trend is still visible in 2025, particularly in the mid-size segment.
Regional activity remains anchored in key hubs. Florida continues to lead with 52 yachts sold so far in 2025, followed by Italy with 25, France with 21, Greece with 17, Turkey with 12 and Spain with 10. German-built yachts remain the rarest on the market, with UAE-built yachts nearly as scarce in absolute numbers. Taiwanese-built yachts offer the most choice, with roughly a quarter of their fleet listed for sale.
Looking ahead, yachts under 50 metres, particularly in the 30 to 40 metre range, face the toughest competition due to growing supply and longer decision cycles. Above 50 metres, demand remains firm, supported by scarcity, established buyer networks and the appeal of immediate availability in a segment where new-build lead times remain long. Whether the mid-size market can absorb its rising inventory without further price softening will be one of the key dynamics to watch in the second half of 2025. In terms of the number of used yachts sold for the full year of 2025, we would expect at least the same number as in 2024, possibly a little more.
100
NEW SUPERYACHTS SOLD in January-July 2025 (30m+)
200
USED SUPERYACHTS SOLD in January-July 2025 (30m+)
REFIT MARKET OVERVIEW
The global refit sector remained robust in 2024, supported by a growing fleet, high utilisation and the continued push by owners to maintain and upgrade their yachts. Across the year, our Intelligence team recorded close to 2,200 refit yard visits for yachts over 30 metres in SuperYacht iQ.
The United States was the leading refit destination, accounting for 21% of all recorded visits and servicing yachts at 29 facilities nationwide. The US also led in the 30–40 metre segment and tied with Italy for the highest share in the 40–60 metre range. Spain ranked second overall with 20% of visits and remains the dominant destination for yachts over 60 metres, thanks to established hubs in Palma and Barcelona. Italy continues to operate the largest refit network globally, with 40 active facilities in 2024, up from 34 in 2023 and is the leader in the 40–60 metre segment.
Other major destinations include Turkey, with 23 facilities; the Netherlands, with 19; and France, with 13. The UK saw strong activity, with Pendennis completing around 18 projects in 2024, well above its usual annual average of 10. In Australasia, The Boat Works in Coomera added a sixth travel lift, two additional covered refit berths and expanded its hardstanding capacity, while Oram’s Marine in Auckland opened two new 60×20 metre sheds alongside an 820-tonne travel lift.
Western Europe saw increased availability at Dutch and German yards, with many facilities balancing warranty work on recently delivered yachts with major conversions. In Southern Europe, Lusben’s Livorno yard expanded with a 2,400-tonne synchrolift, STP Mallorca committed €8 million in upgrades and MB92 acquired both a French refit facility in Golfe-Juan and paint specialist GYG Limited. Croatia’s Adria Docks invested in an 85-metre floating dock, while Turkey recorded over 100 refits in 2024 – a 25 % year-on-year increase – with KRM Yacht launching a 900-tonne travel lift and several commercial and new-build yards moving into the refit sector.
In the Middle East, investment momentum continued. MB92 pressed ahead with its Sindalah facility in Saudi Arabia’s Red Sea region, while Milaha announced plans for a major new site in Qatar’s Umm Alhoul Free Zone.
By size category, the top refit destinations for yachts between 30 and 40 metres were the USA, Italy and Australia. For yachts between 40 and 60 metres, Italy led the rankings, followed by the USA and Croatia. For yachts over 60 metres, Spain retained its top position, ahead of the USA and Italy.
Looking ahead, demand for refit services is expected to remain strong through 2025, particularly for yachts over 60 metres, where global capacity remains tight. New facilities are anticipated in Saudi Arabia and across the Arabian Gulf, while Turkish yards are expected to continue their expansion. However, the sector still faces significant challenges, including high material costs, shortages of skilled labour and the need for earlier project planning to secure preferred slots and avoid costly delays.
CHARTER MARKET OUTLOOK
While we do not yet actively track the superyacht charter market in a dedicated capacity, regular updates from industry professionals allow us to closely follow market developments. According to Fraser Yachts, as of February 2025 there were 3,832 yachts available for charter, including 2,155 over 30 metres, representing 36% of the operating fleet over 30 metres. With more yachts on the market than ever, competition is intensifying, client expectations are evolving and regulatory changes are reshaping popular charter destinations. Through exclusive interviews with leading brokers worldwide, we explore the key trends shaping this transformation and what lies ahead for the charter market.
Market trends & demand
The global charter market delivered record-breaking results in 2024, with IYC surpassing 3,000 charter days and generating $115 million in fees and Ocean Independence reporting a 22% increase in retail charter income. Early 2025, however, paints a more nuanced picture. Large yachts over 50 metres remain in strong demand, with many over 70 metres nearly fully booked for summer, driven by exclusivity and loyal repeat clients. In contrast, the 30–50 metre segment is experiencing a slower start, as an expanding fleet gives clients more choice and spreads demand. IYC’s Greek fleet, for example, has doubled in two years, reflecting a global trend of more owners entering charter. Fraser Yachts reports the global charter fleet over 24 metres has grown 7.4% year-on-year to 3,829 yachts, pushing availability to record levels and intensifying competition in the mid-size sector.
The Caribbean’s winter season, a key early indicator, was mixed: Christmas and New Year’s bookings were strong, but early December and January were softer, with some yachts still available in peak weeks. The Bahamas’ introduction of a 10% VAT has reduced competitiveness, prompting some clients to consider alternative destinations. In response, certain owners have adjusted by lowering minimum charter durations from 10–14 days to just one week to stimulate bookings.
David Westwood, Managing Director of TWW Yachts also shared his take on the state of the charter market as of the summer of 2025 in our SuperYacht Times newspaper, mentioning that “...it’s the newer boats that are being booked early. Yachts over five to ten years old are proving more difficult to fill in our core range, while the larger yachts of 75 metres and up are teaching leaner calendars than usual”.
Shifting Destinations and Experiences and Evolving Client Priorities
Beyond the Mediterranean’s perennial hotspots, interest is rising in destinations such as Thailand, Indonesia and the Philippines, offering adventurous clients authentic, nature-driven itineraries. The Middle East is emerging as a winter charter hub, with Dubai and Saudi Arabia investing heavily in marina infrastructure, while expedition charters to Antarctica are capturing the imagination of those seeking once-in-a-lifetime experiences. At the same time, client priorities are evolving, with charters becoming more experience-led, social and wellness-focused.
Superyacht Ownership by Nationality and Region
At SuperYacht Times, we keep track of superyacht ownership, which allows us to share this unique data with you. The statistics for owners’ nationalities are based on the 2,185 yachts over 40 metres in operation for which we know the ownership nationality (making up 98% of the operational fleet in this category) and the 233 yachts over 40 metres in-build for which we know the owner nationality (73% of the in-build fleet over 40 metres excluding speculative projects which have not yet been sold).
Note that our data is based on the nationality of the owner, not where the person lives.
Ownership by Nationality
BY NUMBER OF YACHTS, TOTAL LENGTH AND TOTAL VOLUME
The US share of superyacht ownership in terms of numbers of yachts and length remained stable during 2024, with another increase in their share in terms of gross tonnage for the third year in a row, supporting our earlier comment in The State of Yachting 2023 that US owners are gradually moving towards larger yachts. We also see Russian ownership continue to decline across all measures, as the effects of Russian sanctions continue to be felt. Greek and Turkish owners gained some share across all measures, while the remaining top 12 countries retained fairly similar shares from 2023. Overall, the countries included in this list are the same as in the previous year’s report.
BY AVERAGE LENGTH AND AVERAGE VOLUME PER YACHT
If we rank the 12 biggest owning countries by the average size of their yachts, we see very small changes from the previous year. Saudi Arabia remains in the lead in terms of average yacht length however, owners from the UAE just overtake Saudi owners in terms of average gross tonnage. Russian and British-owned yachts continued to decline in average size. Meanwhile, Greek, German, Dutch and Turkish-owned yachts grew relatively strongly in terms of average gross tonnage.
Superyacht
Ownership by Region
BY NUMBER OF YACHTS, TOTAL LENGTH AND TOTAL VOLUME
North America (the USA and Canada) is the largest superyacht owning region in the world in terms of the share of yachts,the share of total length and the share of volume. However, its total share of yachts slightly decreased in 2024, breaking its three year growth streak. In 2024, we see the share of owners from the Middle East decrease across all measures, while the Central and Southern Americas gain share across all measures except for gross tonnage.
BY AVERAGE LENGTH AND AVERAGE VOLUME PER YACHT
The average volume of yachts owned in Australasia grew for the second year in a row, while the average volume of North American-owned yachts grew for the third consecutive year. Meanwhile the average size of yachts owned in Central America posted a sharp decline in 2024.
Nationality of superyacht owners, share in number of yachts 40m+, 2025
RUSSIA
About
About Monaco Yacht Show
The Monaco Yacht Show (MYS) is the world’s leading superyacht show with the exhibition of superyachts available for purchase or charter. Visitors can meet up with leading industry experts and hand-picked luxury manufacturers to discuss their next yacht project or explore current and future yachting trends. A unique and tailor-made visit experience into superyachting.
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The event is organised under the High Patronage of His Serene Highness Prince Albert II of Monaco.
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The Monaco Yacht Show Market Report 2025 is published by SuperYacht Times. The Monaco Yacht Show Market Report 2025 (© SuperYacht Times 2025) is intended as a source for general interest only.
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