- Health crisis and the impact on the yachting sales
Health crisis and the impact on the yachting sales
BGYB offers you an article about the effect of the health crisis on the yachting sales.
Health crisis impact
We might think that the health crisis would have a negative impact on the sale and rental of yachts and superyachts. Sales have, however, exploded much to everyone’s surprise and charter sales have been maintained at a high level! Indeed, the figures don't lie: sales of superyachts, namely boats over 30m in length, have increased by more than 8% in the first nine months of 2021 according to Superyacht Group. Although the prices of some of those ships amount to more than 500 million euros.
This could be explained by the fact that people, after being locked up for a long time due to restrictions and sanitary measures, have this urge to travel and to indulge their passion for yachting again during 2020. They have realized the importance of enjoying life’s luxuries and socializing with family and friends. And what’s great is that they can find everything they need in a yacht: the possibility to spend time and travel with their family, to meet new people and make friends, or even simply to treat themselves to a vacation in the sun while enjoying the vast serenitythe oceans offer and the freedom of movement that a sailboat or motor yacht allows.
While the yacht broke market is benefiting greatly from this growth, the builders are also on board. The Italian builder Ferretti reportedly had received orders totalling more than 900 million euros between January and September this year. While in 2019, for the same period, it was 691 million euros. For its part, Azimut Benetti has seen its sales triple and reach 1.2 billion euros in August mainly from their American customers.
We can therefore conclude that the health crisis has indeed impacted the sale of yachts, but not as one might think since, as it has instead increased sales and broadened the yachting market. . However, we should recognise that the growth in sales in 2021 follows a year where we were at the height of the pandemic with travel restrictions preventing a large segment of the international clientele from coming to the Mediterranean to practice their passion for luxury yachting.
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