U.S. Yacht Brokerage Sales Decline Slighlty in February 2013

Compared to February 2012, yacht brokerage sales in the U.S. fell in February 2013, with 1679 boats sold, a 14% decline from 2012 when 1942 boats were traded. Despite the decline, the total number of boats and yachts sold was close to the 5-year average of 1,707 boats for February sales, according to YachtWorld.com member brokerages reporting in SoldBoats.com.

The aggregate price paid for boats sold in February declined by 9% compared to February 2012, from $230 million to $209 million. This total was higher than in February 2011, which was $185 million.

Any time unit sales decline significantly in a month, the decrease is most likely to show up among boats under 35 feet. In the under-26-foot category, sales slowed from 668 boats to 549, and among boats 26 to 35 feet, they decreased from 724 to 611. Average prices paid increased, however. For boats under 26 feet, the average sale price increased from $20,100 to $21,500, and in the 26- to 35-foot range, the average rose from $54,600 to $57,300.

The decline in the market was primarily in the powerboat sector, which dropped 15% from 1581 boats to 1343. Total value fell 13% to $180 million. Sailboat sales declined 7%, to 336 boats, but, ever the contrarians, buyers of sailboats paid more money, $29 million, against a total of $24 million in 2012.

The strongest category in unit sales in February, compared to the period 12 months earlier, was among boats 36 to 55 feet, where sales and values were relatively even. They were dead level among boats 36 to 45 feet, at 367 boats, although total price paid declined 4% from $50 to $48 million. Unit sales of boats 46 to 55 feet were 104 boats, down 2 from February 2012, and aggregate price fell $800,000 to just over $29 million.

Sales declined significantly among larger boats. Among boats 56 to 79 feet, sales were down from 61 to 36 boats sold, and among those over 80 feet, sales dipped from 16 to 12 boats sold. Aggregate prices paid declined at lower percentage rates than unit sales. The total price paid for all boats sold longer than 55 feet was $86 million, down from $96 million.

Source: Slodboats.com (John Burnham)