Yacht World has released its latest Soldboats Report for April 2016. According to the report, April closed as a month of “ups and downs.” While the total number of boats sold was up slightly from April of 2015, the total price paid was lower. Volume increased by 20 boats, to 2,926, a 1 percent gain, but total value declined $10.8 million to $464.2 million. Which means more boats may be selling, but the market is demanding that many sellers drop their prices.
The report went on to say that powerboat sales gained 1 percent in the month, with 2,456 total boats sold. But again, while sales numbers were up, total value was down, dropping 3% to $428 million.
Size Does Matter
In most length ranges, sales trends from the first quarter of the year remained constant. In the volume end of the market, boats under 26 feet and from 36 to 45 feet continued to gain in unit sales compared to April 2015. The boats in the 36- to 45-foot range were in the fastest growth mode, with sales up 7 percent and 598 boats changing hands. The total price paid in this size kept pace, rising by 8 percent with $83.6 million in sales.
In a month of gains and losses however, not all categories saw a drop in value. While overall sales in the 46-55ft category and the 56 to 79ft category were down, the prices garnered in both categories were up significantly with 12 and 15 percent, respectively.
Sales of boats 80 feet and longer were strong for April, rising from 18 to 27 vessels reported sold. But again, in this category, while total sold boats was up, value declined. The total price paid for yachts over 80ft decreased by $17 million.
These statistics are in keeping with our own recent sales, with all of our last 10 sold boats over 80 feet.
Timing is everything
The report also indicated that the time it takes to sell a yacht on average is increasing. In 2005 it took about 255 days, now, the average is about 356 days. With values dropping, and with yachts staying on the market unsold that much longer, if you are planning on selling a yacht, now more than ever it is imperative that you work with a skilled yacht broker. Experienced yacht brokers, such as those with 26 North Yachts, can help you sell your boat fast, and for the top dollar, regardless of the market conditions.
Deciding on the new or pre-owned luxury yacht that is right for you, can be quite complex. If you would like to benefit from our expertise in these areas, or if you have any questions or comments about this blog post, do not hesitate to contact our Sales Specialists, or call us at (855) 318-6328.