YachtWorld.com to debut market index in Miami - Trade Only Today

YachtWorld.com to debut market index in Miami

Author:
Publish date:
Social count:
0

YachtWorld.com is releasing the inaugural YachtWorld.com Market Index Annual Report, providing a unique and comprehensive view of the marine industry in the United States and globally, at this week's Miami International Boat Show.

Last year, 29,494 boats changed hands - an increase of 8 percent from 2009. The total value of those boats was $3.2 billion - a gain of 18 percent from 2009.

The report points to two sales trends during 2010. The first half of the year saw boat sales pick up across all sizes and ranges, compared with 2009. However, the economic recovery slowed in the second half of the year and so did the boat market, especially among smaller and mid-sized boats.

Demand for big boats continued to drive an increase in valuations for this sector. The findings show that the high end of the market has been less affected in the aftermath of the recession.

Another factor last year was the relative weakness of the sailboat market, compared with the powerboat market. Sales in the powerboat market increased by more than 10 percent, to 23,806; sailboat sales increased by just 5 percent, to 5,688.

"We are in a unique position as the world's largest brokerage database to provide an insight into the overall marine industry," said Ian Atkins, vice president and general manager of YachtWorld.com, in a statement. "The U.S. is of particular significance globally, and the trends we see here are very often mirrored later in other markets throughout the world. It is encouraging to see both the sales and valuations uplift in the year, but what the marine industry needs in 2011 is a more consistent market, with increased price certainty and fewer sales fluctuations."

The YachtWorld.com Market Index Annual Report will be available at the Miami show press office.

Related

NMMA: Bad trade policies are piling up

President Trump announced a new round of tariffs on China that would affect marine components being imported from there, further jeopardizing strong growth in the industry, said the National Marine Manufacturers Association.

Law symposium issues call for speakers

Following the success of the 2017 and 2018 ABYC Marine Law Symposiums on the East Coast, the American Boat and Yacht Council will host next year’s Marine Law Symposium in Seattle on Jan. 8.