05/13/2014

U.S. Brokerage Sales Make Progress in April

By John Burnham, YachtWorld editorial director

Sales of brokerage boats in the U.S. picked up significantly in April compared to recent months, but still trailed sales volume of April 2013 by 2 percent. A total of 2,975 boats changed hands in the month, up from 2,439 in March, according to YachtWorld member brokers reporting in SoldBoats.com. The aggregate price paid for the boats was $311 million, a 5 percent increase over April 2013.

The primary market segments to make gains during the month were the smallest boats and largest boats. Extra volume of sales came from a 6 percent increase in the sale of boats less than 26 feet, with 1,093 boats sold. Extra value came from the superyacht segment, where 24 vessels over 80 feet were sold (up 50 percent) for a combined price of $65 million (up 82 percent).

The number of powerboats sold during the month was 2,484—1 percent shy of the previous April—mainly on the strength of the gain among small boats. The total price paid increased by 8 percent to $274 million, but that was skewed by the high-priced superyacht sales. Excluding boats above 80 feet, the total price paid declined by $10 million to $210 million, a 5 percent decrease from April 2013.

The sailboat segment was off by 8 percent in April, with 491 boats sold. The total price paid was $37 million, a 9 percent decline, yet average prices paid were higher among all sizes of sailboats below 80 feet in length.

Through four months of 2014, overall volume in the U.S. market was 5 percent lower than in 2013, with 8,655 boats sold. The total value of sales was $1.03 billion, 15 percent below the previous period, yet average prices were higher or the same in all size ranges below 56 feet.

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