Brokerage values up, sales down in October - Trade Only Today

Brokerage values up, sales down in October

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The number of boats that U.S. yacht brokerage firms sold declined by 10 percent in October, compared with October 2010, but the total value of the boats sold rose 33 percent.

Reporting in SoldBoats.com, their proprietary database, YachtWorld.com member brokerages tallied sales of 1,922 boats, for $259 million, during the month. Despite sales of 204 fewer boats, the total value of completed sales rose $64 million from October 2010, when the value of all sales was $195 million.

The increase in sales valuation was attributable to the higher sale prices of boats over 55 feet. In fact, sales of smaller boats (under 35 feet) were down from $60 million to $49 million, as the number of boats sold dropped from 1,484 to 1,281. Sales of midsize boats — 36 to 45 feet long — were down 2 percent, from 467 to 459 boats, although the total value of those sales remained level at $60 million.

By comparison, the top end of the market registered positive results. In the 46-to-55-foot range, the number of boats sold rose modestly, from 120 to 122. The total sales value climbed 5 percent, from $31.8 million to $33.4 million.

Among boats larger than 55 feet, 60 boats were sold, one more than in the previous October. However, the average sale price more than doubled, from $722,000 to $1.9 million. Total sales value for the category increased from $43 million to $115 million.

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

— John Burnham

Editorial director

Dominion Marine Media

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