As we reach the other side of mid-summer in the northern hemisphere, the yacht sales market continues to move. We expect a small slow down in the volume of sales as the season is at its height and yacht owners with yachts for sale go cruising and those buying, pause and focus on current plans until the end of the season. We are seeing local differences in the market which has lost the COVID overheat across our offices.
Insights for this month:
The next major gauge of market conditions will be seen at the autumn boat shows which for Berthon start in August with the Öppet Varv / Open Boatyard in Sweden, followed by Cannes, Newport, Southampton and Annapolis. These shows will be an important litmus for the market in 2024.
New yacht manufacturers are busy with deliveries of pre-ordered yachts for the 2023 season. The pipeline is less active than before, particularly given increased material and labour costs and inevitable supply chain issues. Production yards are building to take into stock.
The 38′ to 55′ range of yachts both sale and power are the most attractive for the June market with buyers favouring recent and good condition yachts that can sail now.
International buyers have never been more important. Our Swedish office is selling almost exclusively to non-Swedish clients.
In the larger yacht segment of 60 foot plus there is a lot of interest but sales are slower. Prices are not falling and those sales closing are at current market prices and there is no downward pressure on asking prices. A number buyers are interested but not ready to commit.