Brokerage sales rebound in December - Trade Only Today

Brokerage sales rebound in December

Author:
Publish date:

Sales volume for U.S. brokerages increased in December to 1,623 boats, up by 6 percent compared to December 2013.

According to YachtWorld member brokerages reporting in SoldBoats.com, it was the first month in 2014 in which the number of boats sold exceeded the number in the same month a year earlier. For the year, 30,065 boats changed hands, 5 percent fewer than in 2013.

The dollar value of sales for the year was $3.62 billion, down $317 million, or 8 percent, and December’s results contributed significantly to that decrease, with $171 million, or 38 percent, less in reported sales value compared to the December 2013 mark. Sales of superyachts for the month declined from 25 to 17 vessels and $265 million to $79 million in total price paid.

The rest of the U.S. market reported higher values in December. Excluding the superyacht sector, sales were up 6 percent, and total price paid was up 8 percent, or $15 million.

The volume of sales was higher in every size segment below 80 feet for the month. The strongest sales increase on a percentage basis was among boats from 36 to 45 feet — up 17 percent with 434 boats sold. But the gain that could presage a shift in market volume more generally was among the smaller boats; for the year overall, sales of boats under 26 feet and 26 to 35 feet were 7 percent lower, yet in December sales rose 2 and 3 percent, respectively.

Increased average sale prices also were notable in the under-26-foot group, up 14 percent, and at the other end of the market, among boats 56 to 79 feet, up 19 percent.

Average prices were relatively flat in other segments, except as noted among boats over 80 feet and also in the 46- to 55-foot category, which was down 27 percent in December even as sales volume increased 9 percent, to 127 boats. Pricing in this category has been somewhat weaker than in others throughout 2014, but December’s results are likely an anomaly; in November, unit sales were lower than the previous year, yet the total price paid was slightly higher.

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

John Burnham is editorial director of YachtWorld.com

Related

E-nnovation Lab to expand at 2018 Metstrade show

The growing demand for hybrid and electric engines is becoming more apparent within the leisure marine market, prompting Metstrade to introduce the E-nnovation Lab platform for electric propulsion technology.

Aluminum, tow boats lead moderate growth in May

Boat registrations were up 2.1 percent in May in the main powerboat categories, and rose 3.2 percent in all categories, according to preliminary data from Statistical Surveys Inc., a Michigan company that tracks new boat registrations.

Retaliatory tariffs on boats to EU start today

The 25 percent tariff the EU announced Wednesday on U.S.-built boats kicks in today, and a 10 percent tariff on boats sold to Canada will start July 1, prompting boatbuilders to worry they will lose sales to those countries.