You don’t have to be a part of the yacht insurance industry to see that the superyacht market is expanding.
These majestic yachts are on the upswing among the one-percenters, and they’re often the highlights of yachting shows and the subject of features in boating industry articles.
At the 2019 La Belle Classe Superyachts Business Symposium held at the Yacht Club de Monaco, industry insiders and yacht owners discussed recent trends.
Here are some of the highlights:
- Production and sales of yachts have increased steadily since 2010
- Used yacht sales were strong in 2017-2018
- In 2018, the 190-plus-feet market outpaced the smaller yacht market
- Many new vessels are under construction at leading shipyards
- Italian and Dutch builders are busy, but German builders lead the superyacht market
- Russia’s wealthiest yacht owners purchase approximately 30 percent of superyachts