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Market Update November 2011 |
Market Update November 2011
If you read the aggregated Soldboats.com reports every month, you’ll recognize that the valuation of sales in November 2010 was extraordinary and that last month’s result was in a similar range to September ($196 million) and October ($259 million). Still, sales were down for every size range in November. Sales of boats 26 to 45 feet were down 4 to 5 percent, and 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 total value of boats sold declined to $59 million, from $231 million a year ago. A significant part of that decrease was the result of a 50-percent drop in superyacht sales (boats over 80 feet): 8 boats were reported sold in that size range, down from 16, for a total value of $21 million, compared to $79 million a year earlier.
Through 11 months of 2011, 27,091 boats were reported sold, which is a decrease of 3 percent, or 831 boats, compared to 2010 . Despite the lower value of sales in November, valuation for the year remained up 5 percent for the year, with $3.11 billion in sales.
John Burnham is Editorial Director of Dominion Marine Media.
Greenwood Yacht Services
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