Brokerage Sales Rise Again in February
by John Burnham, YachtWorld Editorial Director
At the end of February, for the second month running, U.S. brokers reported higher sales volume than in the same month in 2016. According to YachtWorld member brokerages reporting in SoldBoats, 1,729 boats were sold, an increase of 117, or 7 percent, and the total value of boats sold increased as well, by $13 million, with $233 million changing hands.
After a rough January, brokers selling sailboats had a particularly good month, selling 303 boats, a 14-percent rise compared to February, 2016, and the boats sold for a total value of $23.1 million, up from $18.7 million.
Powerboat sales volume rose 6 percent for the month, with 1,426 boats sold; the total value of boats sold increased 4 percent, with $210.3 million in sales.
The strongest volumes in the market were among boats 26 to 45 feet, with double-digit percentage increases for the 26- to 35-foot range as well as the 36- to 45-foot group. The aggregate sales price in both categories was over 25 percent, as boats sold for average sales prices up 9 percent and 15 percent, respectively.
The only category to register a volume decline was boats 46- to 55 feet, with 93 boats sold, down from 106 a year earlier. Total dollar value increased, however, from $32.3 million to $35.9 million, a 15-percent lift. Average sold prices were up substantially, from $295,000 to $386,000.
Sales volume of boats over 55 feet increased incrementally, but at lower prices, which is not unusual among larger, variably priced boats. The average time each boat was listed before selling was quite a bit higher than usual—on the order of 1.5 years—which may have contributed to the lower pricing on those particular boats.
Note: A version of this article first appeared in Soundings Trade Only Today.