A BOOM IN YACHT SALES AND POSITIVE PREDICTIONS FOR 2022
By: Beatrice Chiardi
19th January, 2022
The year 2021, from a yachting standpoint, has resulted to be highly productive, and the industry expects even more for the year 2022.
In 2021, the superyacht industry has took advantage of two key phenomena, the strong idea of “safety on board yachts” (as being the only way to spend time with the family in total protection and isolation) and the financial success of stock markets, leading to a boom in the sales market.
Of course, from a working method point of view, 2020 taught and pushed us to enter in the digital sphere, without any alternative. Yacht visits have been transformed in 3D virtual tours, face-to-face meetings turned out to be Zoom / Team meetings, and all the marketing became completely available online. Indeed, we have all been tremendously lucky to have back with us the highly attended Monaco Yacht Show, the Cannes Yachting Festival and The Superyacht Forum Live, which gave the chance to the yachting community to gather together once again and to the shipyards to showcase their new projects and latest models.
As of December 202, approximately 1,072 used and new yachts in the 24-metres and above category have been sold. 334 yachts in the 24-metres and above category were sold new, while the remaining 738 yachts were sold used.
The yacht segment with the most sold yachts has been the 24-30-metre category, with 420 yachts of this size sold this year. Interestingly, a lot of yacht sales took place in the United States. Furthermore, this year renowned superyachts have changed owner, such as 126-meters Octopus, 104-meters Lady Moura, 72-meters Atzeca.
After the pandemic many clients that usually chartered a yacht for their annual vacation decided to make the jump to ownership. Owners want to travel, spend more time with their families and be surrounded by nature. During the Covid-19 we have all understood how special normal life is, and how grateful we are to have a family who we love. It is for this reason that many clients want to buy a yacht – considered to be the best solution to travel in total safety.
In addition, many new first-time buyers come from industries which have boomed during 2020, such as the tech sector.
Overall, approximately 20% of the 2021 sales have been from first time buyers.
The explorer market remains hot. We recorded 64 explorers in build or ordered in this year’s GOB, an increase on last year’s 58 – and the most ever recorded. Explorers now account for 9.4 per cent of the GOB, up from 4.1 per cent a decade ago, when there were just 31 explorers in build. The trend for long-legged cruising has firmly cemented itself, with owners demanding more autonomy, range and capability from their boats
From a performance and delivery standpoint, the top shipyards are the following:
- Sanlorenzo – the Italian yard’s projects are becoming bigger on average, thanks to the success of the Superyacht division
- Ferretti Group (Ferretti, Custom Line, CRN, Riva, Pershing, Wally, Itama and Mochi Craft)
- Feadship, with more than 1,000 metres of construction, including projects at the outfitting stage
- Damen, with around 15 projects exceeding 1,000 metres in total
- Heesen, with more than 10 projects and a total amount of 600+ metres of construction
- Oceanco, with fewer number of projects but of bigger length – average of 113m
TOP BUILDERS COUNTRIES
The leaderboard for biggest builder nations remains largely unchanged. Italy sits in the top spot, followed by the Netherlands and Turkey. Each country is building more and larger yachts, but Turkey has seen the biggest growth in activity, with 76 superyachts in build, up from 65 last year. The country has seen less disruption from Covid-19 than Italy and the Netherlands, which appears to have attracted buyers.
A POSITIVE PREDICTON FOR 2022
Concerning the year 2022, we are only at the beginning, but numbers have confirmed an extremely strong start to the year for the second-hand market.
As part of the yachting domain, we are satisfied and excited to see that the industry is succeeding and performing strongly. We believe 2022 to be a powerful year, bringing some clients to buy their first time vessel as an opportunity to escape and stay safe, and others to charter to the most remote destinations – in search of thrill, adventure and unique entertainment.