Skip to main content

Brokerage sales up 7 percent in February

Whether because of a warm winter, a rising stock market or a post-election bounce, U.S. brokerage sales volume and total valuation increased for the second month running in February.
Click to enlarge.

Click to enlarge.

Whether because of a warm winter, a rising stock market or a post-election bounce, U.S. brokerage sales volume and total valuation increased for the second month running in February.

Sales rose 7 percent to 1,729 for the month and they were running 6 percent ahead for the year through February with 3,314 boats sold, according to YachtWorld member brokers reporting in SoldBoats, their proprietary database.

After a big valuation lift in January on the backs of superyacht sales, the $13 million increase in February was modest. Sales of boats larger than 55 feet declined, compared with the previous February, but strength in the middle and smaller segments brought the total industry valuation to $233.4 million, up from $220.1 million. For the year through February, the aggregate price paid was $555.7 million, up from $420.1 million.

This month, we look back at 2016 to gain a better composite picture of the U.S. market with a study of the 10 most popular classes of boats sold during the year. As the adjacent table indicates, 29,263 boats were sold last year; 21,326 of them were from the top 10 classes.

Power cruisers and center consoles stood out as the most popular, with more than 3,000 of each changing owners. Motoryachts, unsurprisingly, sold for the most money, averaging nearly half a million dollars. Sportfishing yachts were a clear second, just north of a quarter million; bowriders were 10th at about $34,000.

By median length, motoryachts were easily the longest, at 48 feet, nine feet longer than the typical trawler, which was second-longest. Bowriders were the smallest at a median 22 feet, two feet shorter than the median-length center console.

The oldest boats on the market were the sailboats — cruisers and cruiser/racers — with a median model year of 1992. Trawlers were equally long in the tooth.

The newest-model-year boats were the bowriders, with a median year of 2007. Center consoles and saltwater fishing boats were right behind at 2006 and 2005, respectively.

Showing the staying power of boats on the brokerage market, the median model year for all boats sold in 2016 was 2000.

Showing the appeal of newer boats, the fastest sellers on the market were the newest boats — center consoles, saltwater fishing boats and bowriders — and all sold, on average, in less than six months. Several of the other classes averaged between 10 months and one year, and although the length and scale of purchase were likely factors, age undoubtedly was, too.

John Burnham is the managing editor of Boats Group (formerly Dominion Marine Media).

This article originally appeared in the April 2017 issue.

Related

1_MIASF

MIASF Holds Annual Meeting

The South Florida trade organization announced new and reelected members, handed out awards, and arranged presentations by business leaders.

1_GASPRICE

Gas Reaches Record $4.59 Per Gallon Average

With Memorial Day weekend approaching, the summer driving and boating seasons will contribute to continued demand for gasoline.

1_MILLERMARINE

Power Lodge Acquires Miller Marine

The deal gives marine and powersports dealer Power Lodge four locations in Minnesota and one in Florida.

1_DOWDIVE

Boating Shares Suffer in Market Selloff

Major U.S. stock indices weakened yesterday, and recreational marine shares fared even worse on a percentage basis.

1_SCANIAFRANZKE

Scania Appoints President of U.S. Operations

Company veteran Jorg Franzke replaces Håkan Sterner, who is returning to Sweden.

norm

Promote Safe Boating Week; a Fishing Icon Passes

The May 21-27 observance takes on heightened importance with the thousands of newcomers to boating. Meanwhile, bass fishing lost a legend with the death of Ray Scott.

1_AZIMUTIBACKLOG

Azimut-Benetti Booked $2.1B in 2021 Backlog

The builder said new models and a “diversified product portfolio” drove sales growth to record levels.