Will Boat Prices Go Down in 2023?

Check out the interview with Sea Alliance, and their perspective on the market health and impact of wider global issues on yachting.

As we enter 2023 and look ahead at the new year, many in the industry are discussing the health of the market and how wider global issues will impact the yachting world.  

We speak with Roy Klajman, founder of Sea Alliance, who offers his perspective on the upcoming year.

Interview with Roy Klajman, Sea Alliance

Will Boat Prices Go Down in 2023? 

The million-dollar question indeed! I personally think that in general there will not be any significant reductions in prices in 2023 for the following reasons: 

1. The prices of new boats will not decrease, but perhaps only stop increasing rapidly as they have done in the last 24 months.  

2. The demand has grown so much in the last two or three years and most shipyards failed to bring back the production capacities to where they were prior to Covid-19, therefore the gap between demand and supply is so big that even if there will be a decrease in demand (and there probably will be a certain slow down), the prices will not drop. 

Nevertheless, it could be that in the brokerage arena, there will be an increase of boats for sale, and that will slowly bring the prices of the secondary market down and clean the market from the inflated prices that some yacht owners were enjoying in the last year. 

In your opinion, is the boat market a healthy place?  

Very much yes. For decades, the main challenge that the entire industry faced was that the number of new clients coming into the market was very limited. This was true for both buyers and charter clients. Despite issues of increased build costs, shipping, and supply chain problems, there is now significant demand from clients. The fact that new ultra-high-net-worth individuals fell in love with boating and yachting in the last two years has brought a much broader client base to the industry. Therefore, the industry has a stronger backbone to rely on. 

Are you seeing any changes in what owners are looking for, such as a higher interest in sailing yachts? 

Not really. I see an increased interest in new yacht designs, better usage of public spaces, and demand from newcomers that look at volume more than speed. 

Browse boats and yachts for sale with Sea Alliance here. 

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