Skip to main content

Megayacht sales improve in South Florida

Sales of megayachts are turning a corner in the improving economy, according to some South Florida-based yacht sellers and builders.

There has been a notable upswing in interest this year for new custom-built yachts of 80 feet or more and less price slashing on used boats of this caliber, industry specialists tell the (Fort Lauderdale) Sun-Sentinel.

"We've reached the bottom of the [megayacht] market," Mark Elliott, yacht consultant and charter agent at International Yacht Collection in Fort Lauderdale, told the paper.

In recent years it's been a buyer's market because of the recession and a pullback in luxury spending, Elliott said. "Right now we're seeing yacht sales starting to increase and our inventory shrinking."

At IYC, sales of yachts 60 to 100 feet have been "very strong" and the firm is starting to see some life with yachts priced at $15 million or more, Elliott added.

At Horizon Yacht USA in North Palm Beach, Fla., sales activity for the year to date has been "steadily busy," compared with the same period in 2012, said Elise Moffitt, a sales and marketing agent.

"The signs are encouraging," said Moffitt, who is seeing keen interest for custom-built yachts of 80 to 100 feet. "The boat shows have been packed, and our boat show traffic is up."

Click here for the full story.

Related

1_WHALESACTION

NMMA: Proposed Speed Rule an ‘Existential Threat’ to Industry

The association is calling on every marine brand, employee and boat owner to file public comment by Oct. 31 over a sweeping regulation to protect North Atlantic right whales.

1_AXOPAR

Axopar and Nimbus Renew Agreement

The boatbuilders have entered an agreement whereby Nimbus Group will retain exclusive rights to sell Axopar boats on the Swedish market.

1_IAN

Hurricane Ian Leaves Devastation in Florida

The storm left a wide swath of destruction, heavily impacting marine interests from Tampa Bay to Marco Island.

Norm

Email Is Your Ticket to Holiday Sales

Developing an effective email campaign can bolster sales and help fill winter coffers at your dealership.

1_NMRA

NMRA Presents Annual Awards

Edson CEO Will Keene and ComMar Sales president Tim Conroy were recognized for their contributions to the marine industry.

1_ PULSE.PING.2

DEALERS: Are Interest Rates Impacting Demand?

This month’s Pulse Report survey asks dealers whether interest rate increases are causing a downturn in boat sales. Take the survey here.

1_EPROPULSION

EPropulsion, Mack Boring Partner with Crest

Pontoon builder Crest will use an ePropulsion Navy 3.0 Evo electric outboard motor and an E175 battery for its 2023 Current model.

1_BENETEAU

Beneteau Reports Significant H122 Growth

The company reported that its revenue grew 8.6 percent and income increased by 30 percent during the first half of 2022.