Brokerage report: big slump in sales in July

Data from BOATPro showed that after an active month in June, July 2024's sales figures indicated a considerable drop in both quantity and value, with this month's 23 brokerage yacht sales being half the number of July 2023 (46) and about half the number from June (43).

In terms of total value, July saw €129.2 million of sales, which is just 30 per cent of July 2023's figure of €427.1 million and 26 per cent of June 2024's figure of €504.4 million. The average asking price of each yacht was also down against either of the previous months. The 50-metre Westport-built Hospitality was the most expensive sale (by asking price*) at €27.2 million ($29.75 million), designed by Donald Starkey and sold with Matthew Stone of IYC.

Of course, a month is a short time in the brokerage market and the quarterly reports (including the Q1 2024 brokerage report) give a better perspective on the state of the industry.

Price drops continued aplenty, but actually at a slower pace than a year ago. There were 44 drops in July 2024 with a total value of €29.3 million, compared with 61 in July 2023 with a total value of €42.5 million. The biggest drop (€5.1 million) was on the 58-metre Turquoise-built Petara, for sale with Edmiston.

There were 40 new listings in July, compared with 54 in June 2024 and 45 at this same point last year (July 2023). New listings totalled €546.2 million in value against €522.8 million in July 2023. In June 2024, the new listings value was 2.3 times as much at €1.268 billion. The most expensive new listing for this past month (July 2024) was the 89-metre Amels-built Here Comes the Sun, designed by Tim Heywood and Andrew Winch, asking €199 million, having rejoined the market with Ian Sherwood and Stéphanie Bosi of Burgess.

Other high-value new listings in July included the 68-metre Loon from  Icon Yachts, designed by RWD and Studio Linse, asking $47.5 million with Merle Wood & Associates. The average new listing price for the month was €14 million.

*All sales figures are based on asking prices.

The data used in this article was taken from BOATPro, the world's leading superyacht market intelligence platform, which delivers real-time, accurate and reliable data. To access our pioneering fleet tracker, brokerage market insight, reports and much more book a demo with the BOATPro team.

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