Yacht World has released its latest Soldboats Report for 2016. According to the report, the early months of 2016 are still somewhat weaker than the same period last year, this despite the fact that a leap year made the sales cycle for February 3% longer than it was in 2015!
February 2016 closed with 1,607 boats sold, down from 1,655. However, the total price paid for boats sold in the month was up 6 percent, with $220 million changing hands. That reflects a trend that began towards the end of 2015, and continued through January 2016 – total number of boats sold down, but total revenue – up.
Size Does Matter
The dips in the total volume of motor yachts and boats sold represent changes in movement in specific size categories. The report stated that, “…brokers selling boats 26 to 35 feet sold 50 fewer boats in February, with 552 boats changing hands. While that size range regularly has more sales than any other segment, sales were nearly equal in the under-26-foot category, with 551 boats, a 4 percent gain over the previous February. Average prices reported were relatively unchanged in the 26- to 35-foot range, yet up from $24,100 to $25,100 among the smaller boats.”
The other segment contributing to overall lower sales in the month was boats 46 to 55 feet, which declined by 20 boats from 125 to 105. Total value in the category was down 22 percent, and average prices in the segment declined from $315,000 to $294,000.
However, the overall increase in value in the U.S. market in February was attributable to the sale of higher average value boats of 80 feet and higher in length. Volume in the category increased from 14 to 15. Total price paid rose from $29.2 million to $55.1 million, or an average price gain of 76 percent from $2.1 to $3.7 million.
The continued increase in sales numbers of motor yachts in the 70-140 foot range, reflect our own experience and brokerage inventory at 26 North Yachts, such as our recent sale of the No Vacancy, a 100 Ft Broward yacht.
The continued interest in motor yachts in this size range was evident with the excitement drawn by our showcase of the new Dyna 60, at the recent Yachts Miami Boat Show.
The Dyna 60, along with several other motor yachts in this size range will be available for viewing, and special incentives at the upcoming Palm Beach International Boat Show.
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.