In March 2011, the 2,585 brokerage yachts sold in the U.S. came close to matching the 2,611 sold in March 2010 2010. However, the total value of the yachts sold, $254 million, was $73 million, or 22% less than a year ago, when sales were recorded at $327 million.
According to YachtWorld.com member yacht brokerage firms, which reported their sales in the SoldBoats.com database, the explanation for this steep decline in valuation rests entirely on falling big-yacht sales and an even sharper drop in the total value of those yachts sold.
Among yachts larger than 55′ in length, sales were down, with 66 boats sold, 23 fewer than the 89 boats sold the previous March. The total value of those yachts sold was down $73 million, a 49% drop from the $148 million in sales for that size range a year earlier.
Unit sales were higher for boats between 26′-55′. Boats from 36-45′ made the strongest gains with 525 sold, a 10% jump. The 26-35′ range and the 46′-55′ range made incremental gains, with 1,024 and 133 boats sold respectively.
These March boat sales reinforce a trend set in recent months, where the middle size ranges have showed level or modest growth, and total valuation of boats sold has followed suit.
For the first quarter of 2011, unit sales were down 2% from 2010, with 5,851 boats sold. Total value of boats sold was down 16%, from $735 million to $618 million. Again, the falling value of big-boat and yacht sales has been responsible for nearly the entire drop in valuation, with sales for the three months valued at $200 million, down 36% from $313 million in the first quarter of 2010.
Source: John Burnham, Dominion Marine Media editorial director
