Yacht Sales: 2011 Yacht Brokerage Industry Update

Unit sales in the U.S. yacht brokerage market continue to track very closely with the 5-year monthly averages. As on other recent months, February 2011 yacht brokerage unit sales came in slightly under the 5-year average as well as compared to yacht sales in February 2010. YachtWorld member yacht brokerage firms reported selling 1,699 boats in February, down 48 boats or 3% from February 2010. Total valuation of the sales was 16% lower, off $36 million.

For the 2 months combined, unit sales are down by 2.5%, with 3,267 boats sold; total valuation is lower by 10%, with $365 million in sales. Powerboat sales were up a few boats in February 2011 compared to February 2010, and are 1% higher for the year to date. Where the market has slipped is in sailboat sales, which dropped 15% in February, from 361 boats to 307—very much as it did in January 2011.

In valuation by boat type, a different trend emerges. Although powerboats are selling reasonably well, the total value of their selling prices was off 20% in February and is down 12% year to date, with sales of $311 million. By comparison, despite selling fewer boats in February, brokers of sailboats reported a valuation increase of 15% to $31 million. For the 2 months combined, although 110 fewer sailboats have sold than a year earlier, total valuation is flat at $54 million.

In different size ranges, the strongest category compared to the previous year was the 46-55′ group, selling 103 boats, a gain of 13% over February 2010. Sales valuation in that category was up 5% to $30 million. Year to date, the category is up 7% in units and 4% in valuation.

Most of the smaller size categories have shown small changes compared to 2010’s first two months. As usual, the largest size range, boats over 55′, has been the most volatile in terms of valuation. Big-boat unit sales for the year have been relatively steady at 112 boats, down 7 from 2010, but the value of the boats sold has not, dropping 25% to $125 million.

Source: John Burnham, SoldBoats.com