March 2013 Yacht Sales Report: Mixed Results, Down 2%

Yacht brokerage sales in the United States slipped 2% in March 2013 to 2,554 boats sold, but the price paid for those boats rose 31% to $495 million. The figures compared with 2,606 boats sold for a price of $378 million in March 2012, according to YachtWorld.com member yacht brokerage firms reporting in SoldBoats.com.

The increase in value was entirely attributable to the sale of more expensive boats and yachts above 80′, a category in which 17 boats sold for $261 million. The other 2,537 boats sold in March brought an aggregate price of $234 million, down from $250 million in the same month a year earlier.

Sales were relatively stable in March in the largest part of the market, boats under 45 feet. Among boats under 26 feet, sales declined from 953 to 934 boats, but the total price paid increased from $20 to $21 million. Sales were level for boats 26 to 35 feet, with 916 boats sold, and total value was also even at $51 million. And for boats 36 to 45 feet, even though sales declined by 3% from 512 to 495 boats, the total price paid increased 18% from $70 to $83 million.

Prices declined in the larger boat sizes: the number of sales of 46- to 55-foot boats was down slightly, from 130 to 128 boats, but the total price paid decreased from $41 million to $35 million, a 15 percent drop. Sales of boats 56 to 79 feet slowed from 77 to 64, off 17%, and the total price paid declined 35 percent, from $68 million to $44 million.

The sailboat side of the market continued its trend in 2013 of holding up better than the power segment, with 473 sailboats changing hands in March, a 2% increase over the previous year. Total value of sailboat sales was down from $36 million to $35 million. Powerboat sales were 3% lower, with 2,081 boats sold, and the total price paid rose 35 percent, to $460 million. However, as indicated above, the higher prices paid for superyachts actually masked a price decline in the rest of the market.

First quarter sales in the U.S. yacht brokerage market were down 5% from 2012, with 5,905 boats sold. Total value was up 17 percent, on $938 million in sales. Volume-wise, the strongest part of the market was between 36 to 45 feet, where 1,255 boats were sold, up 5 boats from 2012; total price paid was $184 million, up 10%.

Source: John Burnham