02 January 2019

Industry News

YachtWorld Market Index

As we begin 2019 we thought we would use our first blog post of the year for a quick round-up of the latest from the brokerage market with YachtWorlds November release of its Q3 Market Index.

The report sees a consistent global market trend throughout 2018, with a decline in boat sales noted but with the overall value of boats sold on the rise. Across the industry and compared with the 2017 figures the EU market reports a 1% drop with overall sales falling from 2,173 in 2017 to 2,152 in 2018, in comparison to the 7.9% drop seen with sales throughout the US.

In Europe, power boats saw a bigger drop in sales than sail, with an 8.1% drop, compared to a 4% decline in sales from the later. With power boats skimming 4 days of the recorded average 'days to sale', going from 305 in 2017 to 301 in 2018.

Our area of interest, the up to 80-foot market, saw not only a 6.5% decline in boat sales and an increase in days to sale, but also and more positively an increase of 57% in the value of boats sold and 68.5% increase in the average boat value.

Inventory is expected to remain low over the next few years as the market still feels the effects of a significantly impacted marine industry, that has had to weather two economic downturns over the last 30 years.

So what can we expect from the yachting industry in 2019? With so much uncertainty on the horizon with the impending Brexit deal/no-deal, it is very hard to predict, but we remain ever the optimists at Bromfields, and look forward to the year ahead.

You can read the report in full via BoatGroup.com