Yacht World has released its latest Soldboats Report for 2016. According to the November 2016 Report, with 1,858 boats sold in November, U.S. brokerage sales were down slightly, by 1% in total boats sold, over the same month in 2015. However, that number is still 34 boats above the November average for the last five years.
The report went on to say that the total market value declined from $271.1 million to $256.8 million, a 5% decrease that was principally attributable to lower prices paid for boats 80 feet and longer, which were down from $63.4 million in 2015 to $43.1 million this year.
Winner and Losers
In addition, values were off $1.7 million ($48.1 million, down from $49.8 million) among sales of boats 56 to 79 feet, but in all other categories the total value was higher than in November last year.
Although lower prices fetched for larger motor yachts largely accounted for the dip in total market value, it was boats under 26 feet caused the slight drop in sales volume. In that segment 449 were sold, which was off by 29 boats as compared to November 2015. The only other segment that declined was boats from 46 to 55 feet, which was off by seven boats, with a total of 119 sold.
Prices Reduced on Pre-Owned Luxury Yachts!
The fact that the drop in total market value was generally driven by lower prices for yachts sold over 80 feet, means that now is still a very good time for buyers who are interested in pre-owned luxury motor yachts in that mid to upper size range. We have dozens of fine examples of such yachts in our broker inventory, such as Ti Punch, a truly unique 86 foot Outer Reef that has recently been reduced, or Diva, a remarkable, custom built Nisi, also on a price reduction, echoing the trend in the report of prices lowering for yachts in the 80 foot and over class.
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.