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FORT LAUDERDALE, FLORIDA - OCTOBER 25: Visitors walk among the boats that are on display at the 64th Fort Lauderdale International Boat Show on October 25, 2023 in Fort Lauderdale, Florida. The boat show, starts today and runs for five days, will exhibit more than 1,300 boats from small vessels to large, expensive yachts. (Photo by Joe Raedle/Getty Images) Joe Raedle | Getty Images News | Getty Images A version of this article appeared in CNBC's Inside Wealth newsletter, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
As the yachting industry prepares for the Fort Lauderdale International Boat Show this week, executives are betting that the American wealth machine can continue to power the industry. Americans now account for about 40% of all global yacht sales, according to industry executives. At the higher end, with yachts over 250 feet, Americans are the majority of the market.
Executives say that as demand from Europe and the Middle East has slowed, Americans are increasingly critical for growth. "Recently, it's the Americans that have increased their purchasing," said Kevin Merrigan, chairman of Northrop & Johnson, the yacht brokerage. "We've had several big closings heading into the end of the year.
It's quite remarkable and it's American buyers." Overall, the yacht industry has slowed since the post-COVID peak of 2022 and 2023. For the year through September, global sales of pre-owned yachts over 78 feet are down about 1% from the same period last year, while sales value fell about 5%, according to Northrop & Johnson. Orders of new yachts over 78 feet were down slightly, from 266 last year to 216 year-to-date in 2026, according to Northrop & Johnson.
Yet the yachting market increasingly mirrors the new top-heavy structure of global wealth, with centimillionaires and billionaires gaining wealth the fastest. Orders for yachts between 40 meters and 50 meters (131 feet and 164 feet) increased from 49 sales to 63 sales this year, according to Northrop & Johnson. Brokers say demand is strongest for newly built or good condition large yachts over 200 feet.
A buyer ordering a new mega-yacht today might have to wait until 2031 or later for delivery, since the top shipyards are booked solid. So an almost-new mega-yacht can fetch a large premium. "In the last four or five years, we've definitely been in a situation where we're inventory constrained at the very top end," said Anders Kurtén, CEO of Fraser Yachts.
"Demand is greater than supply." The yacht charter business has also fallen off its post-pandemic peak. While the summer started out weak, due mainly to the war in the Middle East, charter bookers say business picked up in August and the pipeline looks strong into 2026. They said many of the charter customers today are young Americans in their 30s and early 40s, and many made their money in tech.
Many yachters start with charters before deciding whether to buy their own yacht. "Charter is the entry level drug," Merrigan said. "We're seeing more and more younger families and couples come into charter." The Fort Lauderdale International Boat Show, which begins Wednesday, Oct. 28 and features more than 150 yachts, is a big test for the market.
Brokers say the Monaco Yacht Show, which was in September, had strong attendance and sales. Kurtén said Fraser had four yachts on display at Monaco and one went into contract during the show. He said Fraser will have eight or nine yachts on display at Fort Lauderdale.
He had planned on more, but in recent weeks the company sold four of the yachts that were scheduled to appear. "I think that tells you something about the state of the market in general," he said.
Source: CNBC
