U.S. Brokerage Sales Gain Strength in October
By John Burnham, YachtWorld editorial director
The U.S. market for brokerage boats improved in October, notably in sales of boats longer than 36 feet; the segment grew 10 percent compared to October 2013, with 829 boats sold. Including all smaller boats, a total of 2,304 boats were sold in October, which was 1 percent below the previous year, according to YachtWorld member brokers reporting in SoldBoats.com.
The total value of all boats sold in October was $319 million, up 10 percent from the previous year when it was $290 million. From small-boat segments to large, the aggregate price paid increased compared to the previous October, although in the smaller ranges, which reported reduced sales activity, the increases were minimal. The largest gain was among boats 56 to 79 feet, rising from $39 million to $53 million.
The larger the size range, the greater the increase in number of boats sold in October, with the superyacht sector up 91 percent, based on 21 vessels changing hands. Among boats 56 to 79 feet, sales climbed 67 boats, up 22 percent from the 56 sold in October 2013. Sales of boats 46 to 55 feet were up 15 percent, with 172 sold, and among boats 36 to 45 feet, 569 boats were sold, a 6 percent gain. By contrast, sales of boats 35 feet and shorter declined 6 percent, from 1,572 boats sold in October 2013 to 1,475.
Average prices increased for the market as a whole from $125,000 to $139,000, and some of the strongest pricing gains were among the smallest boats, even as unit sales declined. The average boat under 26 feet increased in value from $22,000 to $24,000; the average boat 26 to 35 feet sold for $56,000, up from $53,000. Also rising markedly was the average sale price for boats 56 to 79 feet, moving from $705,000 to $798,000.
Note: A version of this article first appeared in Soundings Trade Only Today.