A Slower November Across The Board

As Reported From The Trade Journal Soundings:

Brokerage sales for November were lower this year, compared with November 2010 and seasonally, according to U.S. members of YachtWorld.com reporting in the proprietary database Soldboats.com

The number of boats sold declined 7 percent, from 1,936 boats a year earlier to 1,805 in November. The total value of boats sold fell much further, by 49 percent, from $387 million to $199 million.

Those who read news about this market every month will recognize that the valuation of sales in November 2010 was extraordinary and that this November’s results were similar to those of September ($196 million) and October ($259 million). However, sales were down for every size range.

Sales of boats 26 to 45 feet were down 4 to 5 percent, and sales of boats under 26 feet were off 9 percent. Bigger-boat categories declined the most, with boats 46 to 55 feet off 11 percent, at 117 boats, and boats over 55 feet off 16 percent, with 65 boats sold.

All size ranges recorded lower values, especially boats over 55 feet, where the total value of boats sold declined to $59 million from $231 million a year earlier. A significant part of that decrease was the result of a 50 percent drop in superyacht sales (boats over 80 feet); eight boats were sold in that size range, down from 16, for a total value of $21 million, compared with $79 million a year earlier.

Through November, 27,091 boats have been reported sold, a decrease of 3 percent, or 831 boats, from 2010. Despite the lower value of sales in November, valuation for the year was up 5 percent, at $3.11 billion in sales.

A more detailed report summarizing recent U.S. brokerage sales will appear in the January issue ofSoundings Trade Only.

— John Burnham

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