Every late spring and early summer, the yacht market sees a new round of activity. With the successful conclusion of major boat shows, more and more buyers are looking to the pre-owned market in hopes of owning a yacht of their choice for the upcoming summer season. Before starting to choose a boat, the first and most crucial question is often: what is the average price of a yacht?
In this article, Yachttrading will focus on the core question of ‘what is the average price of a yacht’, and provide you with a comprehensive and practical reference from market data. Whether you are a buyer looking to purchase a yacht or an owner looking to list an existing yacht for sale, you will gain valuable insights into the industry.
What is the Average Price of a Yacht?
According to the Yacht Industry Professional database, the average sale price of a yacht over 50 feet sold in the US market in the last 24 months was $1,270,400. This value demonstrates the true level of the current market, and even more so, it shows that transaction prices are generally as high as 90% or more of the initial listing price, indicating that the market transaction price has maintained strong price stability as a whole.
It is worth noting that this average price covers a wide range of prices, from entry-level models priced as low as US$17,500 to super-luxury yachts priced in excess of US$20 million. Therefore, it is still rough to estimate one's budget or pricing reference based on the ‘average’ alone, and it is more important to analyse the yacht in relation to the length of the yacht.
In order to give boat buyers a clearer idea of what type of boat they can afford, we have compiled a list of average prices for yachts of different lengths:
For yachts between 50 and 59 feet, the average price is around $553,000 USD;
For yachts between 60 and 69 feet, the average price is close to $990,000
Yachts between 70 and 79 feet, with an average price of about $1.87 million;
Luxury yachts between 80 and 89 feet, with average prices topping $2.25 million;
Superyachts between 90 and 99 feet, with an average price of about $3.34 million;
mega yachts of 100 to 109 feet, with an average price of up to $3.92 million.
The above figures show that for every 10-foot increase in the hull, there is a significant increase in the average price. For example, crossing over from the 50-foot segment to the 60-foot segment nearly doubles the average price. This is an important reference dimension for buyers when judging budget and selecting a model.
Current Yacht Market Characteristics
Compared with the previous years, when demand outstripped supply and listings were hot, the current yacht market has gradually returned to rationality. We have observed the following three major trends:
The number of downward price adjustments has increased, and the room for negotiation has been slightly restored;
The listing period is lengthening and no longer ‘on the shelf’;
The inventory of pre-owned yachts is growing steadily and the choice is wider.
This means that now is a relatively good time to enter the market for a yacht, particularly for buyers looking for value for money.
Pricing Advice When Selling a Yacht
The most common misconception for owners looking to sell a yacht is to search the internet for the listing price of the same yacht as a basis for pricing. It may seem reasonable, but it is extremely risky - as you don't know the true condition behind each boat.
A low-priced yacht may have a low selling price due to accidents, repair history or urgent selling needs; while a high-priced yacht often reflects the owner's overly high psychological expectations and is not necessarily representative. Blind reference can easily lead to pricing deviation from the market, affecting the efficiency of the transaction.
Therefore, instead of ‘self-diagnosis’, it is better to find professional yacht brokers to do market assessment, just as it is better to be diagnosed by a doctor when you are sick rather than relying on a search engine to check your symptoms.
As a service platform focusing on the sale, transport, maintenance and valuation of yachts, Yachttrading has always been committed to providing customers with professional and transparent market data. Our team of experienced brokers specialise in all types of yachts, including sport fishing boats, sailboats and powerboats, and can not only help you accurately assess the current value of your yacht, but also give you detailed advice on the listing price, the expected selling period and transaction expectations. There is no charge for our initial appraisal service, so please feel free to enquire.
