Luxury superyacht sales saw a stark decline from $5 billion in 2023 to $3.6 billion in 2024 – in yet another instance of faltering luxury sales, as the momentum from the post-pandemic boom years begins to level out.
In 2023, the ultra-wealthy purchased 133 superyachts with an average price of $37.3 million, according to the Douglas Elliman and Knight Frank 2025 Wealth Report. Last year, the number of new superyacht purchases dropped down to 131 vessels, with an average price of $27 million.
While fewer families purchased new superyachts last year, marinas are still struggling to accommodate the world’s most luxurious boats. The size of yachts has increased since the early years of the 21st century. Seventy-three vessels, measuring 100 meters or more, have been built in the last 25 years. Nearly half of those vessels were constructed in the last decade. Experts note that this trend has caused a cascading effect on where the would-be yacht owners purchase waterfront property.
Limited space in the world’s prime yachting destinations “can really challenge a buyer’s aspirations, particularly in spots such as Marbella’s Golden Mile,” said Alasdair Pritchard, a partner in Knight Frank’s Private Office, in the Wealth Report. The report notes that those purchasing superyachts are increasingly putting as much emphasis on access to berthing facilities as they are to their ocean-side homes.
Aside from the physical limitations of berthing such large ships, fueling and maintaining superyachts also requires a tremendous amount of natural resources. Environmental journalist Joe Fassler described superyacht ownership as the “most harmful thing an individual can do to the climate,” in a 2023 New York Times op-ed.
“Take, for instance, Rising Sun, the 454-foot, 82-room megaship owned by the DreamWorks (CMCSA) co-founder David Geffen,” Fassler wrote. “According to a 2021 analysis in the journal Sustainability, the diesel fuel powering Mr. Geffen’s boating habit spews an estimated 16,320 tons of carbon-dioxide-equivalent gases into the atmosphere annually, almost 800 times what the average American generates in a year.”
While overall sales decline and pushback from environmentalists continues, yachting remains popular among the global one percent. The Wealth Report published a heat map, based on data from BOAT International, to identify the most popular yachting destinations in the world. Continue reading to see where the ultra-rich set sale in 2024.
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