2024 Year to Date Caribbean Boat Sales Report – BVI Yacht Sales

2024 YTD Boat Sales Caribbean Market At A Glance:

At BVI Yacht Sales, we take pride in being the informative brokers. Here we provide an analysis of market performance in 2023 compared to 2024 for the Caribbean region, highlighting key trends and insights to help our clients understand the current market dynamics. For more specific tailored analysis please email us directly.

Market Overview (based on soldboats.com and yachtbroker.org data)

2023 (blue) vs. 2024 (yellow) Average Days for Sale by Location (with over 10 boats sold)

2023 (blue) vs. 2024 (yellow) Average Sold Value by Location (with over 10 boats sold)

2023 (blue) vs. 2024 (yellow) Sold Count by Brokerage (with over 10 boats sold in either 2023 or 2024)

Summary

The current market shows a weakening trend, with a high number of boats for sale leading to longer selling times and lower selling prices. Buyers have more options, giving them leverage in negotiations. Notably, boats over 10 years old are worth approximately half of what they were even as recently as a year ago, and this trend seems likely to continue. If you are considering selling, the time to act is now—do not delay.

When it comes to selling boats in the Caribbean, the top locations are the British Virgin Islands (BVI), Puerto Rico, and Martinique. Among these, the Virgin Islands stand out as a no sales tax zone, making it an ideal place for yacht transactions. This tax advantage significantly enhances the attractiveness of selling boats here, providing sellers with a financial edge.

At BVI Yacht Sales, we excel in delivering the best possible sales outcomes across the Caribbean. We offer the broadest range of boats and operate in the most countries, ensuring maximum exposure and the best market opportunities for your vessel. Our extensive reach and strong presence make us the premier choice for boat sales in this vibrant region.