Over the past three days, the biggest names in international luxury yachting came together to witness the breathtaking sight of some of the world’s largest and most expensive superyachts gathered in one port. The Monaco Yacht Show took place between September 27 and 30 and attracted a staggering 30,000 visitors to the small country on the French Mediterranean coast. It was surely the most glamorous event in the cruising enthusiasts calendar.
Now in its 32nd edition, this prestigious superyacht show attracts prospective buyers, designers, builders, suppliers, brokers and superyacht enthusiasts from across place in the world.
New Arrivals
This year’s impressive superyacht lineup – yachts over 80 feet (24 meters) in length – includes the 43-metre electric catamaran “This Is It,” built by Tecnomar – the Italian Ocean Yacht Group, and the superyacht catamaran “The world’s largest sailboat,” Art Explorer – a museum. The boat – capable of holding up to 2,000 people per day – was built at the Italian shipyard Perini Navi. So, being here at the yacht show is quite unique.
A New Found Focus On Sustainability
Another superyacht launched this year is the 52-metre Baglietto T52, the first in the Italian shipyard Baglietto’s T52 series to feature hybrid propulsion, along with the 49.9-metre “No Stress Two,” Rossinavi’s first hybrid boat. Delivered earlier this year, the 60-metre “Entourage,” the second superyacht in yacht manufacturer Amels’ 60 series, is also on display for the first time. Dutch shipbuilder Heesen will display four yachts, Amare II, Aurelia, My Loyalty, and VanTom, at the event, while German shipbuilder Lürssen’s line-up includes the 97-metre “Carinthia VII,” the largest yacht revealed, and “Lady,” which is 91 meters long. “Lara” is for sale for £243.1 million.
Market State
According to the 2023 Monaco Yacht Show Market Report published by SuperYacht Times, there were 5,695 superyachts over 30 meters in length in operation as of mid-August. However, after record sales in 2021, the market is showing signs of slowing down. The report went on to say that new yacht sales were down 34% in early September, while used yacht sales were down about 25%. “While the numbers will improve, market performance will certainly lag 2022, which was a much slower year following the exceptional market peak in 2021,” the report noted.
Meanwhile, data from superyacht market source BOATPro indicates that the brokerage market sees the total value of superyachts sold increase by 20% in 2022, while aggregate asking prices of yachts sold by brokers also decreased. Pizzardini attributed the decline in sales to the “carpe diem mentality” some customers seem to have about having fun on cruise ships during the Covid-19 pandemic.
