For those seeking to release assets held in their yacht or are perhaps looking to upgrade to a larger vessel, there has never been a better time to sell.
The yachting industry experienced record yacht sales in 2021, reporting a 71 percent surge in sales, according to Boat International. Last year’s sales figures were the highest ever since records began. In the US alone, there were 415,000 first-time boat buyers recorded in 2021, according to the National Marine Manufacturers Association.
The boom is fueled by an increased desire to enjoy time on the water, with the world’s wealthiest realizing the benefits of a superyacht. A luxury yacht offers a self-sufficient sanctuary at sea, one that is exclusive and private while enabling the owner and their guests to travel whenever and wherever they desire.
Another reason for the boom is the increasing number of wealthy people, with many of the world’s ultra-wealthy seeing their wealth grow even larger during the pandemic. According to Knight Frank’s annual wealth report, the global population of Ultra-High-Net-Worth-Individuals grew by 9.3% in 2021.
This spike in demand has seen superyacht prices surge when selling yachts, with many going for above-asking prices or selling before even being publicly listed. Many of the world’s leading global yacht brokerages are reportedly selling luxury yachts at record speed, while new yacht sales have also surged, with leading shipyards working at full capacity, with many popular yacht models selling before construction commences.
This heated market has created more buyers than there are boats, meaning there has never been a better time to sell a yacht, for those seeking to exit the market.
How to sell a luxury yacht
If you’re considering selling your yacht, you should work with a professional luxury yacht broker. Here’s why:
Leading yacht brokerages are armed with the latest industry insights and market intelligence to sell your yacht. A luxury yacht broker will be able to offer accurate advice and value your yacht based on the current market and its condition, accessibility, model, size, and location to ensure you maximize its potential.
Integrity and experience
Working with an experienced yacht brokerage is essential if you wish to get the best price when selling your yacht and enjoy a flawless and professionally managed transaction. Look for yacht brokerages that are members of key industry bodies, such as the International Yacht Brokers Association and the Yacht Brokers Association in America. These industry-leading bodies promote the very highest standards of ethical conduct and competence.
When it’s time to sell your yacht, it’s essential that it is marketed to a qualified audience. The world’s leading yacht brokerages employ sophisticated marketing strategies across both digital and print, harnessing the power of social media, their own website, slick videography and photography, and a continued presence at the world’s most prestigious yacht shows, all of which can drive significant interest and help ensure you get the very best price for your yacht.
Qualified and vetted buyers
Working with a luxury yacht broker will mean that you will automatically put your yacht in front of an audience of qualified and vetted buyers. This is highly advantageous for those seeking a private off-market sale. Finally, a luxury yacht brokerage will ensure a smooth transaction when selling your yacht, handling viewings and negotiations with the utmost professionalism.
With demand continuing to soar, there is no question that now is the time to sell your yacht. Contact a luxury yacht brokerage today for expert advice and a market intelligence-led valuation.