Industry News

U.S. Brokerage Sales Make Progress in 2014

Although boat brokerage stales still lag behind previous numbers that were seen at this time last year by about 2%, sales have increased substantially since the beginning of 2014. Since January of this year, sales have almost doubled from a little less than 1,000 to over 3,000. This is a positive sign showing that the disparity is narrowing and sales may even exceed last year’s numbers in the coming months as the global economy continues to accelerate.

While the volume of boat sales have decreased, the actual price volume as increased. For instance, April 2014 boat sales were $311 million, which represents a 5% increase from last year’s number. This is certainly a positive sign for individuals in the industry who are looking to sell used boats in San Diego, Seattle, Austin, Tampa Bay and other major boating cities throughout the United States.

So where is this growth coming from? Most of the growth stemmed from boats under 26 feet, with 1,093 boats sold. The high-end segment of the market also expanded dramatically with an 82% increase in aggregate sales over last year’s figures. This high-end segment is defined as boats that exceed 80 feet, which are often classified by industry experts as “super yachts”. In all, 24 of these high-end boats were sold at a total price of $65 million dollars, meaning the average price was more than $2.7 million – a promising sign for the industry as a whole.

The overall boating market is at just $1.03 billion this year, a 15% decline from last year’s figures. Only time will tell how the future will turn out, but the economic growth figures realized in the past couple quarters could certainly translate into an increase in sales figures later this year.

If you are thinking about buying or selling your boat, contact the expert boat brokers at Ballast Point Yachts, Inc. in San Diego. We offer free consultations and can answer any questions you may have about the current market and the best practices for listing or purchasing a boat. Call 619-222-3620 to get started.