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05/16/2017

Modest Decline Continues in Brokerage Market

by John Burnham, YachtWorld Managing Editor

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Sales volume declined for U.S. yacht brokerages from 3,522 boats sold in June 2016 to 3,262 boats sold in June, 2017, according to YachtWorld member brokers reporting in SoldBoats. This is the fourth consecutive month that YachtWorld has reported lower sales figures. 

However, revised reporting on April and May sales reduced the declines in those months, and May sales numbers actually ended up even with the previous May. Sales volume for the quarter was off by 3 percent, with 9,434 boats sold. 

The value of boats sold in June was $395 million, down by 1 percent from $399 million a year earlier. The average sold price for each vessel rose 7 percent, to $121,000. 

Most of the sales decline in June was on the power side of the market, with 2,696 boats sold, down 9 percent from 2,950 in June, 2016. The sailboat market was off by 6 boats with 566 boats sold, a 1 percent drop. 

Slumping sales of boats under 35 feet were mainly responsible for the monthly volume drop. A total of 1,006 boats under 26 feet were sold and 1,256 in the 26- to 35-foot range, each a 9 percent decline compared to the previous June. 

Big-boat sales were down, too, especially boats 46 to 55 feet, which declined from 189 to 168 boats sold. 

The best-performing segment was 36 to 45 feet, in which sales were off only 1 percent with 738 boats sold. 

As of mid-year, overall U.S. sales were 1 percent behind 2016, with 15,147 boats sold. The total value of sales was $2.17 billion, up 10 percent from 2016. Average prices were up 11 percent, and the average number of days required to sell a boat declined by 3 percent, over a week, to 256 days. 

—John Burnham

 

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




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