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04/23/2014

U.S. Brokerage Sales Lower in March

By John Burnham, YachtWorld editorial director

The cold winter of 2014 continued to affect U.S. brokerage sales in March, as 2,439 boats were sold, an 8 percent decline in sales volume from March 2013. According to YachtWorld member brokers, reporting in their proprietary database, SoldBoats.com, most of the decrease was attributable to 150 fewer sales of boats shorter than 26 feet, with 841 boats of that size changing hands.

The total price paid for the boats sold in March was down 44 percent compared to the same month in 2013. Total sales were valued at $268 million, compared to $482 million the year before. Of that $214 million difference, nearly all was due to the sale of less expensive superyachts; 17 boats over 80 feet sold for $261 million in March 2013, while 15 boats of that size sold for $52 million in March 2014.

Not including boats over 80 feet, the aggregate price paid for boats in March was down $5 million, or 2 percent. The average price paid for a boat below 80 feet actually increased to $89,100, up 6 percent from $84,200 in March 2013.

Brokerage sales for boats between 26 feet and 79 feet were incrementally lower in most size ranges. Volume was down 5 percent in the 26- to 36-foot range, with 890 boats sold, and 11 percent in the 56- to 79-foot range, with 59 boats sold.

An exception was in the 36- to 45-foot segment, where sales were up 3 percent, with 511 boats sold. And although sales were 5 percent lower in the 46- to 55-foot segment, the aggregate price paid increased 8 percent, to $38 million; the average price paid increased from $274,000 to $309,000.

The volume of sales in the first quarter of 2014 was 7 percent behind sales in 2013, with 5,683 boats sold. The total price paid for boats in the quarter was $724 million, a $203 million or 22 percent decline.

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

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