Yacht Sales Report – October 2011: Volume Down, Values Up

The number of boats and yachts that U.S. yacht brokerage firms sold declined by 10% in October 2011, compared with October 2010, but the total value of the boats sold rose 33%.

Reporting in SoldBoats.com, their proprietary database, YachtWorld member brokerages tallied sales of 1,922 boats, for $259 million, during the month of October. Despite sales of 204 fewer boats, the total value of completed sales rose $64 million from October 2010, when the value of all sales was $195 million.

The increase in sales valuation was attributable to the higher sale prices of boats over 55′. In fact, sales of smaller boats (under 35′) were down from $60 million to $49 million, as the number of boats sold dropped from 1,484 to 1,281. Sales of midsize boats — 36′ to 45′ long — were down 2%, from 467 to 459 boats, although the total value of those sales remained level at $60 million.

By comparison, the top end of the market registered positive results. In the 46′ to 55′ range, the number of yachts sold rose modestly, from 120 to 122. The total sales value climbed 5%, from $31.8 million to $33.4 million.

Among yachts larger than 55′, 60 boats were sold, one more than in October 2010. However, the average sale price more than doubled, from $722,000 to $1.9 million. Total yacht sales value for the category increased from $43 million to $115 million.

Source: John Burnham, Editorial director: Dominion Marine Media