The Reality of Selling Your Boat
If you're thinking about selling your boat this spring, you're probably interested in what's happening in the general used-boat market. A recent report by the on-line brokerage site Yachtworld.com that was published in the March issue of Soundings Trade Only gives some idea of what you can expect. Here are some major conclusions:
- January 2011 powerboats sales totalled 1,258 compared to 1,242 for January 2010. That's a drop of 1.29%, which means the market is basically flat year over year.
- In terms of length, boats from 36 to 45 feet actually were up year over year by an admittedly miniscule one percent—again, for all intents and purposes, flat. Prices of boats larger than 55 feet were down 17 percent, although total value of all boats sold dropped by only 12 percent.
- The average value of all powerboats sold in January was down by about two percent, compared to January 2010.
- The value of all powerboat sales under 35 feet in January 2011 were down three percent from January 2010 but total value fell by a much larger proportion: from $46 million to $43 million.
- Finally, average time on the market was roughly flat from January to January—275 days in 2010 compared to 274 days in 2011.
Bottom line seems to be that the decline in prices has mostly slowed or stopped and that the used powerboat market has reached somehting of an equilibrium. Thta's certainly a ray of hope and good news for those wanting to trade up.