Big-boat sales spur brokerage gains

Posted on 03 March 2010

ShareTweet

Among boats larger than 55 feet, U.S. yacht brokerage sales surged in February, the third month in a row that big-boat sales have outpaced the same month a year earlier.

Sales recorded by YachtWorld.com member brokers were up by more than 50 percent compared to February 2009, and the valuation of those boats increased by more than 100 percent.

Across all sizes, unit sales grew by a third, from 1,323 in February 2009 to 1,759 boats last month, and the value of those sales increased from $132 million to $221 million. Combined with January, the number of boats sold was reported at 3,367, a 31 percent increase over 2009, and valuation was $411 million, up 55 percent.

Sailboat sales, after lagging behind the rise in powerboat sales in January, were up sharply in February, leading the market with unit sales 41 percent higher (at 367 boats) and valuation up 77 percent (to $28 million).

All sizes of boats sold better in February than the same month a year earlier, with increases in unit sales of at least 29 percent. And while boats over 55 feet made the largest gains, strong sales were also recorded among boats 36 to 45 feet long, with 364 boats changing hands - 44 percent above February 2009.

The only negatives in February's report were that unit sales overall lagged slightly behind the five-year average for the month, with 1,759 total boats sold, compared to an average of 1,888. Also, as a reflection of the slowness of the big-boat market throughout the recession, it's not surprising that the average time on the market for the boats over 55 feet sold this year so far is up about 40 percent, to 515 days.

A more detailed report on February 2010 brokerage sales, including a special report on Gulf Coast sales, will appear in the April issue of Soundings Trade Only.

— John Burnham, Yachtworld.com

Comments

5 Sunday, 16 May 2010 15:04

Good day, I'm really interested in getting into selling large boats. I'm a seasoned

real estate broker, who loves boats, and knows how to listen, and sell. Anyone know of any openings in the southeast?

4 Thursday, 04 March 2010 16:27

I have seen first hand, new and used boats being sold in abundance.  I know of a few dealers that can’t even get boats built at a level that will keep up with their sales.  (Those dealers don’t just sit back and wait though – they WORK – they stay up late managing their inventory, fielding calls, preparing for tomorrow).

Boats don’t have to be repos or distress sales or extremely unique situations. These boats only need to be priced well, advertised the right way, in good condition, and managed correctly.  If anyone (dealer, broker, owner) thinks they are going to sell a boat by sitting back and waiting for someone to come to them and put in a serious offer on an overpriced dirty boat that no one knows about – they ARE CRAZY.  It doesn’t work like that anymore.  Boats are selling, those who are used to sitting back and waiting for buyers to walk in the door and throw money at them will tell you a different story though.  Be care who you get your information from!

3 Wednesday, 03 March 2010 18:25

I know a lot of new boats are being sold.

2 Wednesday, 03 March 2010 17:31

Too bad there is not sufficient data on how many of these brokerage boats are repos and deeply discounted distress sales. I seriously doubt the new builds/sales are enjoying a huge jump-start.

1 Wednesday, 03 March 2010 16:56

New builds or resales??????

Add your comment

Your name:	Required, screen names acceptable
Your email:	Required, will not be published
Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our Comments Policy.:
Word verification:
	Post Preview

yvComment v.1.21.1