Big boats continue to fuel brokerage gains

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Big-boat sales in August continued to push the total value of U.S. brokerage sales higher than in 2010. For the month, 2,746 boats were reported sold at a total value of $261 million, according to member brokers.

This was $9 million higher than the previous August, when nearly the same number of boats were sold (2,748) for $252 million.

Even though the number of boats changing hands has tracked very close to, or just below, the number sold in the first eight months of last year, the total value of boats sold rose dramatically higher than 2010 during the period from May to August. For the year to date, 21,238 boats were sold for $2.46 billion, an increase in valuation of nearly $300 million over 2010.

Sales of boats over 55 feet account for all of this difference in valuation. In August, sales in the category were up 19 percent, an increase of $13 million on sales of $83 million. Year to date, while only 5 percent more big boats were sold than in 2010, valuation was up 44 percent, rising from $685 million to $988 million.

A more detailed report summarizing recent U.S. brokerage sales will appear in the October issue of Soundings Trade Only.

— John Burnham

Editorial Director

Dominion Marine Media