Last week at the Palm Beach International Boat Show, Bilgin Yachts announced the sale of an 82-meter custom superyacht to John Staluppi. It's called Project Bond. It's the largest commission in Bilgin's history.
And it says a lot about where this market stands right now.
I wrote about the overall energy at PBIBS this year in my last post, Extraordinary Yachts and Insider Secrets From PBIBS 2026. The Project Bond announcement deserves its own conversation.
The Quick Version
Staluppi isn't a newcomer. He's owned 18 yachts before this one, every single one named after a James Bond film. Project Bond will be his 19th. He says it's his last.
When a buyer with that kind of experience commits to the largest yacht he's ever owned, with a Turkish builder, on a project that takes years to deliver, that's not impulse. That's conviction.
Does a Sale Like This Surprise Me?
Honestly, a deal at this scale always turns heads. Everyone in this industry likes to think they have a pulse on every segment of the market. The reality is very different. Managing one serious buyer through a closing is complex. Juggling three to five at a high level is where you really start to understand how dynamic and fragmented this market actually is.
So the scale? Impressive. The direction? Not surprising at all.
What we're seeing from serious buyers right now is conviction. The right buyers, experienced, well-capitalized, and patient are still making decisive moves when the opportunity aligns.
What I find just as important is where this deal happened. The Palm Beach International Boat Show has evolved significantly. Five years ago, it was primarily floating docks. Today, it spans Palm Harbor Marina and Rybovich Superyacht Marina, bringing in larger yachts, more serious buyers, and clearly, major transactions.
Palm Beach is no longer just a secondary show. It's becoming a real marketplace where deals at every level , including 80-plus meters are getting done.
What the Numbers Are Saying
The broader data tells the same story. Global superyacht sales rose from 392 in 2024 to 470 in 2025, a nearly 20% year-over-year increase. New-build activity nearly doubled as a share of transactions. The Global Order Book has over 1,000 yachts in progress, with shipyard slots booked into 2028 and 2029.
But here's the part worth paying attention to: the frenzy of 2021 and 2022 has cooled. That's actually a good thing.
Buyers today are more deliberate. They're doing real due diligence. They're making decisions based on value and fit, not fear of missing out. The people transacting right now know what they want.
What It Means at Every Level of the Market
Most of my clients aren't shopping at 82 meters. But what happens at the top of the market matters at every level, and here's why.
The ultra-high-net-worth buyers are typically the most experienced people in this space. They've been through multiple cycles. They understand timing, and they have access to the best data and advisors. When they're deploying serious capital into long-term projects, it's not speculation. It's a calculated conviction.
That confidence trickles down.
For buyers at every level, whether you're looking at a 40-footer or a 150-footer, it signals that the fundamentals are strong. Shipyards are active. Inventory is moving. Pricing is finding equilibrium. You're not stepping into a collapsing market. You're stepping into a functioning one.
What's different right now compared to the frenzy years is that the market has normalized. Buyers have leverage again. There's more inventory, more negotiation room, and more opportunity to make a smart purchase instead of chasing something in a bidding war.
The brokerage market right now is the most balanced it's been since before the pandemic. More quality inventory. Realistic pricing. Real opportunities for buyers who come prepared with the right advisor.
So for someone buying at a smaller scale, this is arguably one of the better environments we've seen in years. You can take your time, do proper due diligence, and still secure a quality boat at a fair number.
If you're curious what's available right now, browse current listings on Quality Yachting from the 40-foot range all the way up.
The Bottom Line
When the most sophisticated buyers in the world are leaning in, it gives everyone else the confidence to act.
Project Bond is just the most visible proof of where we are. The fundamentals are sound. The market isn't about to fall off a cliff. And if you've been thinking about making a move, whether it's a 50-footer or a 150-footer, the conditions are there to do it with confidence.
The key is having the right strategy and the right advisor to navigate it.
Paul Denton Jr. is a yacht broker at Luke Brown Yachts in Fort Lauderdale, FL. He works with experienced buyers, first-time owners, and high-net-worth clients across all segments of the luxury yacht market.
Ready to have a real conversation about your next move? Reach out directly: pd@lukebrown.com | (386) 295-4668
Written by
Paul Denton Jr.
Partner, Luke Brown Yachts · 500-Ton USCG Captain