Brokerage sales drop in July

U.S. yacht brokerage sales declined in July by 114 boats (3 percent) from the same month last year.

U.S. yacht brokerage sales declined in July by 114 boats (3 percent) from the same month last year.

The total value of the 3,269 boats that sold ($332.3 million) was virtually identical to the previous year’s figure, according to YachtWorld member brokers reporting in SoldBoats, their proprietary database.

Superyacht sales (boats 80 feet plus) were lower by seven boats during the month, but the total value of boats sold in the often volatile category rose by 60 percent from $29.3 million to $46.8 million. The total value of the boats sold in most other categories was lower.

The power and sail segments had volume declines with power down 3 percent (78 boats) and sail down 6 percent (36 boats).

Overall, the boats that changed hands sold four days faster on average than a year earlier at 265 days, indicating some additional fluidity in the market.

In the higher-volume segments of the market, the only gains were among boats smaller than 26 feet; in that size range, sales increased 1 percent as 1,045 boats were sold and boats changed hands at a higher average price than they did a year earlier; the figure increased from $24,500 to $25,900.

In the highest-volume sector — boats from 26 to 35 feet — sales declined 3 percent as 1,263 boats were sold. The total value of boats sold in this size range remained level at $74 million; the average sold price increased from $56,700 to $58,600.

The 36- to 45-foot range was one of the strongest in the first half of the year, but it had a 5 percent decrease in July sales as 716 boats changed hands. The average boat in this size range sold for 4 percent less, down from $133,900 to $128,300.

Sales were weaker during the month in the larger size ranges; the 46- to 55-foot and 56- to 79-foot segments were down 14 percent. Although the average prices were level in the 46- to 55-foot group, they increased 9 percent for the larger boats.

Sales for the first seven months of this year totaled 18,604 boats, 2 percent behind the 2015 pace. The total value of the sales was $2.3 billion, 3 percent lower than the previous year.

John Burnham is the managing editor of Dominion Marine Media.

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


Economy Report

A macro look at the effects the pandemic is having on consumer confidence and sentiment, spending, small businesses and more.