12/19/2013

U.S. Brokerage Sales Rise 18 Percent in November

By John Burnham, YachtWorld Editorial Director

Note: A version of this article first appeared in Soundings Trade Only Today.

Brokerage boat sales in the U.S. climbed 18 percent in November, with 1,983 boats sold, a gain of almost 300 boats over the same month in 2012. The total value of boats sold in November was $234 million, a 6 percent increase. According to YachtWorld member brokers reporting in SoldBoats.com, November was the seventh consecutive month of record sales in the period, 2008-2013.

Brokers selling powerboats reported especially improved sales figures, with 1,535 boats sold, a 21 percent improvement over November

, 2012. The total price paid was up 6 percent, to $195 million, reflecting a lower average sale price. Sailboat brokers also indicated a similar result, with 448 boats sold, a gain of 8 percent, and a total sale value of $39 million, a gain of only 5 percent.

The strong volume increase of sales in November can be attributed to gains in the mainstream part of the market, boats under 45 feet. Sales of boats 36 to 45 feet long were up 20 percent, to 511 boats. The aggregate price paid rose 39 percent, to $69 million, lifting the average price paid from $116,000 to $135,000.

Among boats 26 to 35 feet, sales were up 10 percent, with 739 boats sold. A smaller increase in average price was achieved, as the total value of sales rose 13 percent, to $44 million.

In the smallest boat category, boats under 26 feet, the volume increase was the greatest, up 29 percent with 532 boats sold. Average prices declined slightly as the 25 percent rate of gain in total price paid didn’t quite match the increase in volume. Over the course of the year to date in this category, the average price is still higher than in the same period in 2012, increasing from $20,600 to $21,800.

With 11 months of the year on the books, sales were nearly up to 30,000 boats, and had already exceeded sales of any year since 2007 when 34,000 boats changed hands.