BOATPro data suggests a 69.2 per cent increase in the number of yachts on the second-hand market due to appear at the Cannes Yachting Festival 2023 when compared to last year’s figures.
Last year saw 26 brokerage yachts above 24 metres in attendance, while this year expects to see 44 yachts in that same bracket.
The spike could be explained, in part, by the fact that the berth occupied by 72.6-metre Coral Ocean last year will be free this year, and this will allow more larger yachts to berth stern to the quay.
It could also be explained by a competitive market, which is backed by an impressive number of price drops recorded in August of this year. 70 yachts had their prices slashed ahead of boat show season in August 2023, compared to just 48 in August 2022. Last year’s August figures recorded just €47.95M in price drops, while this year’s data recorded a total price drop value of €51.2M. Both years shared the trend for soaring listings values, with last year’s numbers ballooning to €759.7M in August and this year’s reaching an impressive €652M in the same period.
On a broader scale, the total number of yachts at the Cannes Festival is a touch higher this year, with 109 due to attend in 2023 compared to 96 last year. Also on the up is the number of sailing superyachts at Port Pierre Canto, with 12 set to attend this year compared to just five last year.
The largest debuting yacht at the show will be Baglietto’s 52-metre T52, which eclipses last year’s largest debut: the Custom Line 140. With Coral Ocean at anchor this year, the largest second-hand boat berthed in the show is the 55-metre Amels Step One.
Debuts by size segments
24m – 30m: 58
30 – 40m: 41
40 – 50m: 8
50 – 70m: 2
The number of debuts at the Cannes Yachting Festival is lower this year, with 18 this year compared to 21 in 2023. The average LOA is 2.3 per cent lower and the average GT is 9.8 per cent lower.
Read More/Superyacht listings value climbs to €652M ahead of show season