Why Used Catamarans Are Becoming Harder to Sell

For the past decade, catamarans have been one of the strongest segments of the yacht market. Production expanded, charter fleets grew rapidly, and prices moved steadily higher.

Now the cycle is changing.

In the 2024/25 season, French shipyards built 1,019 multihulls compared with 1,354 monohulls. Yet multihulls generated €759 million – around 74% of total French sailing yacht industry revenue.

That works out at roughly €745,000 in revenue per multihull built, compared with about €195,000 per monohull.

It is easy to understand why shipyards invested so heavily in catamaran production.

But multihull production has now fallen by around 26%, while revenue is down 19%.

The downturn arrived later than it did for monohulls because manufacturers were protected by large order books. Shipyards continued building boats ordered one or two years earlier even as the number of new buyers was already declining.

Once those backlogs started disappearing, the slowdown became much more visible.

Fountaine Pajot is a good example. A revenue decline of around 13% was accompanied by EBITDA falling almost 50% and net profit by roughly two-thirds. Nautitech entered judicial restructuring proceedings in 2026.

But for owners, the more important story is what happens next on the used catamaran market.

Charter Created the Boom – and Is Now Creating Supply

Charter was one of the main drivers of catamaran growth.

The economics are straightforward. A 40-50 ft catamaran can accommodate more cabins, bathrooms and guests than a comparable monohull while retaining a large saloon and cockpit.

For charter companies, more guests mean more revenue from each boat.

This encouraged operators to buy large numbers of Lagoon, Bali, Fountaine Pajot and other production catamarans.

Now that mechanism is beginning to work in reverse.

Charter boats are normally replaced after several years of operation. A catamaran that originally created demand for a new boat eventually enters the second-hand market and becomes a cheaper competitor to newer boats.

And a significant wave of supply may still be ahead.

A catamaran delivered in 2021 will be six years old in 2027. A 2022 boat reaches the same age in 2028.

This means many boats sold during the peak years of the yacht boom are approaching the age when charter operators typically start replacing them.

New catamaran production is falling, while the supply of relatively young used catamarans could continue to increase.

What Does This Mean for Private Catamaran Sellers?

Don’t Value Your Boat by Asking Prices

Seeing five similar catamarans advertised for €500,000 does not mean your boat is worth €500,000.

Those boats may still be advertised precisely because buyers are unwilling to pay that price.

The important numbers are the prices at which boats actually sell, how long they remain on the market and how much sellers eventually negotiate.

In a slower market, asking price and market value can be very different numbers.

Time Can Work Against the Seller

Listing a boat high and waiting for the right buyer worked reasonably well when supply was limited and prices were rising.

That strategy becomes much more dangerous when inventory is increasing.

Your catamaran may have five comparable competitors today and fifteen next year. Some could be newer and some may come from charter operators motivated to sell quickly.

After spending 8-12 months on the market, an owner may eventually need to reduce the price further than if the boat had been realistically priced from the beginning.

“Never Chartered” Is Valuable – But It Isn’t Enough

Private ownership is becoming a genuine advantage.

But buyers are unlikely to pay a large premium simply because an advertisement says “never chartered.”

The difference needs to be visible and documented:

• lower engine hours;
• better interior condition;
• good sails and rigging;
• documented engine maintenance;
• invoices for upgrades;
• clear ownership and maintenance history;
• recent survey.

Don’t simply tell buyers that your boat is better than an ex-charter boat. Show them why.

A Recent Survey Can Help Sell the Boat

Traditionally, buyers arrange and pay for the survey.

In a market with increasing inventory, a recent independent survey can also become a powerful tool for the seller.

If a buyer is comparing three similar catamarans and only one has a recent survey, maintenance invoices and a transparent history, that boat becomes much easier to evaluate.

Removing uncertainty makes buying easier.

Presentation Matters More Than Before

When boats were difficult to find, buyers were willing to travel to inspect almost anything suitable.

With more choice, the first selection happens online.

Good photographs, a proper walkthrough video, detailed specifications, maintenance history and a clear description are no longer optional.

Poor photos, old information or “details on request” can mean the buyer simply opens the next listing.

Be Prepared to Negotiate

As inventory increases, the buyer gains negotiating power.

The asking price increasingly becomes the beginning of the conversation rather than the expected transaction price.

This is particularly important for mainstream 40-50 ft Lagoon, Bali and Fountaine Pajot models, where competition from ex-charter boats is likely to be strongest.

For Buyers, the Market Is Becoming More Interesting

Buyers are getting something that was difficult to find only a few years ago: choice.

More boats mean more opportunities to compare condition, equipment and price – and more room for negotiation.

But comparing boats also becomes more complicated.

Two Lagoon 42s from the same year can have completely different real values.

One may have spent five years with a private owner. Another may have completed six charter seasons and accumulated thousands of engine hours.

Online, they can look almost identical.

Economically, they are very different boats.

This is why the traditional formula of model + year = value is becoming less useful.

Condition, engine hours, ownership history, maintenance, equipment and survey results increasingly determine what an individual catamaran is actually worth.

Used Catamarans Are Also Competing With New Boats

There is another consequence.

Imagine a new 42-45 ft catamaran priced at €750,000 while a five-year-old equivalent is available for €450,000.

The shipyard now has to convince the buyer why the new boat is worth an additional €300,000.

During the shortage, that was relatively easy.

With growing used inventory, it becomes much harder.

Manufacturers are therefore increasingly competing not only with other shipyards but also with thousands of catamarans they themselves built during the boom.

The Market Hasn’t Disappeared – It Has Changed

Catamarans are not going away.

Their space, comfort, number of cabins and suitability for charter and long-term cruising continue to make them attractive boats.

What is disappearing is the assumption that prices and demand will automatically keep rising.

For private owners planning to sell in the next few years, the practical conclusion is simple:

Do not wait for the 2021-2022 market to return.

Price the boat realistically from the beginning. Prepare the maintenance records. Consider obtaining a recent survey. Invest in good photographs and video. Make the boat’s history transparent. And be prepared to negotiate when a serious buyer appears.

In a rising market, time works for the seller.

In a market with growing supply, time works for the buyer.

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