Boat International US Edition – June 2019

Q12019:thebrokeragemarket

SalesinQ1 2019 comparedtoQ1inpreviousyears

Averageprice($)foryachtssoldinQ1 2018 vsQ1 2019

Q1 2016 Q1 2017 Q1 2018 Q1 2019

12.06 12.25 11.49 13.15

8,895 11,776

26,323

33,091

38,832

58,868

39,112

113,483

210,114

370,101

708,747

1,569,322

12,937

10,676

722.6m 965.4m 1,353.7m 1,266.2m

(^7510111289)
24-30m
(80-100')
30-40m
(100-130')
40-50m
(130-164')
50-70m
(164-230')
70m+
(230'+)
24-30m
(80-100')
30-40m
(100-130')
40-50m
(130-164')
50-70m
(164-230')
70m+
(230'+)
2019
33,268
33,279
41,738
37,556
40,825
139,531
201,951
430,633
486,829
1,644,794
2018
Numberof
sales
Average
age
Average
price
per
GT
Average
price
per
foot
Total
asking
price
($)
TotalLOA
(ft)
ON BOARD
A big ask
Higher asking prices in the first quarter of 2019 pushed brokerage sales down

• but new builds are benefiting, says Miranda Blazeby

nflated asking prices have
been blamed for the sluggish
sales results in the first quarter
(Q1) of 2019 – but there is a
silver lining to this particular cloud.
Just 89 sales were recorded during this
period, a significant drop from the 112 in
Q1 2018, and the lowest figure since 2016.
March was particularly lethargic, with
28 sales, down from 42 in March 2018.
Industry figures were quick to link the
slower brokerage sales to asking prices,
particularly in the 35m to 45m (115ft to 147ft)
market. Cromwell Littlejohn, Northrop
&Johnson’scommercialdirector,says:
“We’vegotseveralclientsmakingoffers,
butit seemsa numberofboatsare
overpricedandtheownersaren’tbudging.”
FrasersalesbrokerMaartenTenHolter
agrees,describingmanyaskingpricesas
“waytoohigh.”
Butthelackofleewayinsecond-hand
priceshasledtoanuptickinnew-build
salesasprospectivebuyerslookelsewhere.
Fourteenin-buildyachtsweresoldonthe
brokeragemarketinQ12019,aseven
percentriseyearonyear.“Insomecases
weareabletobuyanew-buildyachtatthe
samepriceorlessthanwhatthebrokerage
marketisasking,”Littlejohnsays.
Despitethemarketfigures,Richard
Lambert,headofsalesatBurgess,reported
the“busiestfirstquarterinsomeyears”for
thebrokeragehouse,highlightingan
increasein50m-plus(164ft-plus)sales.
Slowstartsarenothingtobeafraidof,he
adds.“Itisatrendthatnumbershaveabit
ofapeakattheendoftheyearandbegin
topickupagaininthesecondquarter.”
Allthree industryfigureslooked
optimisticallyaheadtothesecondquarter,
promisingthatanumberofbig-ticketsales
arealreadyinthepipeline.

I

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