4th Quarter Yacht Sales Data Shows Decline While Prices Climb

The fourth quarter of 2018 reveals a further decline in yacht sales, while the price per yacht remains strong. Industry numbers show that, from quarter to quarter, there’s been a decrease in number of boats sold on the brokerage market while the good news is that the overall value of boats sold is climbing.

According to data from SoldBoats.com, global Q4 sales year over year have long been the slowest when compared to previous quarters, specifically Q2, which has consistently showed the strongest sold boat numbers, with Q2 2015 showing the best figures for total yachts sold around the world in the last four years.

When comparing all sales, including international (see graph above), from Q4 2017 to Q4 2018, the decrease reveals a little less than 1,050 yachts sold. A lack of inventory seems to be a significant factor contributing to this trend, which may be the result of less production by manufacturers. Most believe, however, the silver lining is certainly the value of boats sold. 

That much is clear when taking a brief look back at the numbers for Q3 2017 versus Q3 2018, data from YachtWorld that breaks down like this:

Global Value of Boats Sold (Q3 2017) $1.5 Billion | Number of Boats Sold 10,808
Global Value of Boats Sold (Q3 2018) $1.8 Billion | Number of Boats Sold 10,117

Fourth quarter data by region offers similar statistics as global sales. But there was an uptick in number of boats sold in one particular area when comparing Q4 2017 to Q4 2018. Yachts sold internationally represented nearly 31% of the market in 2017, with about 2,500 yachts reported sold. Compare that to 2018 (see graph above), and the total number has risen to 2,600 – just over 37%.

Encouragingly, Denison is pleased to report that global yacht sales in the 24m (79′) range and bigger has yielded strong results, with growth year over year. Total sales in 2018 for this segment reached 398. While the overall superyacht market was slightly down (-10%), Denison saw an increase in number of yachts sold from 32 in 2017 to 45 in 2018 (40% jump). 

The busy Fall Boat Show Season along with characteristically robust Q2 numbers should result in a healthy start to Q1 2019 as well, which we’ll take a closer look at later in the year.