Brokerage sales dip in October - Trade Only Today

Brokerage sales dip in October

Author:
Publish date:

The U.S. market for brokerage boats improved in October for boats longer than 36 feet, but overall sales fell 1 percent from the same month last year as 2,304 changed hands.

Among boats above 36 feet, sales rose 10 percent from October 2013 to 829.

The value of all boats sold in October totaled $319 million, up 10 percent from $290 million the previous year, according to YachtWorld member brokers reporting in their proprietary database, SoldBoats.com.

From small-boat segments to large, the aggregate price paid increased from the previous October, although in the smaller ranges, which reported reduced sales activity, the increases were minimal. The largest gain was among boats 56 to 79 feet, where the aggregate price rose from $39 million to $53 million.

The larger the size range, the greater the percentage increase in the number of boats sold in October. The superyacht sector was up 91 percent, based on 21 vessels changing hands.

Among boats 56 to 79 feet, sales climbed to 67, up 22 percent from 55 in October 2013. Sales of boats 46 to 55 feet were up 15 percent at 172 and, among boats 36 to 45 feet, 569 were sold for a 6 percent gain.

By contrast, sales of boats 35 feet and shorter declined 6 percent from 1,572 to 1,475.

Average prices increased from $125,000 to $139,000 for the market as a whole and some of the strongest pricing gains were among the smallest boats, even as unit sales declined. The average boat under 26 feet increased in value from $22,000 to $24,000; the average boat 26 to 35 feet sold for $56,000, up from $53,000.

The average sale price for boats 56 to 79 feet rose markedly, moving from $705,000 to $798,000.

John Burnham is the editorial director of Dominion Marine Media.

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

Related

VIDEO: IBEX Interviews

Trade Only Today talks with Ron Huibers of Volvo Penta of the Americas, Huw Bower of the Brunswick Boat Group, Don Hopkins and Bill Szekesy of QMI Group, and Brad Burton of Albin Pump Marine LLC.