This month YachtWorld.com will compare SoldBoats.com data from the first quarter and second quarters of 2007 with those from 2008. In the first chart we can see the average selling price of boats during the first six months of 2007 and 2008.
The second chart compares the average time to sale of boats for this same period. This data represents used boats advertised on YachtWorld.com which were marked as sold and entered in the SoldBoats.com database.
Interestingly, the data from SoldBoats.com shows that compared to 2007 the average value of boats sold in 2008 rose slightly in both the first and second quarter. From 2007 to 2008 the average sold price has increased 6.13 percent.
The slight swell in sold boat prices may correlate with inflationary pressures and the weakness of the U.S. dollar. However, the trend did not continue through June where we can see a 10.11 percent fall in the average sold price of boats in June 2008 compared to June 2007. Average time to sale remained eight months in 2008, increasing an average of nine days compared to the same period in 2007.
This brokerage sales data is unaudited and is voluntarily supplied by YachtWorld.com member brokers. These charts do not represent all boats sold by all brokers: 95 percent of YachtWorld.com’s 1,689 members contribute sales information. YachtWorld.com and Soundings Trade Only are owned and published by Dominion Enterprises.
This article originally appeared in the September 2008 issue.