July Brokerage Unit Sales Lower, Total Value Higher
by John Burnham, YachtWorld Managing Editor
July brokerage transactions in the U.S. were fewer in number but much pricier than a year earlier. A total of 2,871 boats were sold—12 percent fewer than the 3,257 sold in July 2016—but the transactions produced $380 million changing hands, an increase of $50 million, or 15 percent. This contrasting data was compiled based on YachtWorld member brokers reports in the SoldBoats database.
Powerboat and sailboat unit sales were both lower by double-digit percentages for the month, with 2,407 powerboats and 464 sailboats changing hands. In July 2016, 2,735 powerboats and 522 sailboats were sold.
A slowdown in sales in the smaller-boat segments of the market was responsible for the volume disparity from one year to the next. Sales were off among boats 36 to 45 feet, 26 to 35 feet, and under 26 feet by 12, 13, and 14 percent, respectively.
The volume of sales was higher across larger boat segments, and notably, sales increased from 14 to 19 boats for boats 80 feet and above; the total sales value in this category increased, as well, from $47 million to $98 million.
Despite the decline in sales volume through much of the brokerage market, average final prices increased in every category except boats 56 to 79 feet. As an example, among boats 26 to 35 feet, where sales fell 13 percent from 1,255 boats to 1,090 boats, the total value of sales declined 3 percent, from $73.6 to $71.3 million, and average prices increased from $59,000 to $65,000.
Through the first seven months of the year, U.S. sales volume was down 3 percent with 18,011 boats sold, and total value was up 11 percent, with $2.55 billion in sales.
Note: A version of this article first appeared in Soundings Trade Only Today.