Brokerage sales rise in FebruaryPosted on Written by John Burnham, YachtWorld.com
In February, for the second month in a row, U.S. brokers reported higher sales.
A total of 1,729 boats were sold, an increase of 117 (7 percent) from the same month last year and the total value of the boats sold increased by $13.3 million as $233.4 million changed hands, according to YachtWorld member brokerages reporting in SoldBoats, their proprietary database.
After a rough January, brokers who sell sailboats had a particularly good month, selling 303, a 14 percent increase from the same month in 2016, and the boats sold for a total value of $23.1 million, up from $18.7 million.
Powerboat sales rose 6 percent for the month as 1,426 boats were sold; the total value of the boats that sold increased by 4 percent to $210.3 million.
The strongest volumes in the market were among boats from 26 to 45 feet, with double-digit percentage increases in the 26- to 35-foot and 36- to 45-foot ranges. The aggregate sales price in both categories was up more than 25 percent as boats sold for prices that were, on average, up 9 percent and 15 percent, respectively.
The only category that had a decline in volume was boats from 46 to 55 feet, where 93 were sold, down from 106 a year earlier. The total dollar value increased, however, from $31.3 million to $35.9 million, a 15 percent gain. Average sold prices were up substantially from $295,000 to $386,000.
Sales of boats larger than 55 feet increased incrementally, but at lower prices, which is not unusual among larger, variably priced boats. The average time each boat was listed before selling was quite a bit longer than usual — on the order of 1.5 years — which may have contributed to lower prices on those boats.
John Burnham is the managing editor of Boats Group (formerly Dominion Marine Media).
A more detailed report summarizing recent U.S. brokerage sales will appear in the April issue of Soundings Trade Only.