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The state of the current US yacht market
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Yacht Market Update 11/6/2013
1
US Boaters(millions)
2002 201166
68
70
72
74
76
78
70
76.6• Almost a quarter of
Americans, 23.8% went boating in 2011
• Up 6% from 2002
Boater Demographics
0-11
12-15
16-24
25-34
35-44
45-54
55-64
66-74
75-95
22.7
30.4
25.2
28.826.9 27.3
24.8
17.3
8.2
Age • Young to middle aged adults significant part of boating community, 25-44
• Current cruising population 55-74 makes up 42% of boaters
Boating by Boat Type
Powerboat Sailboat Other
51.1
10.7
40
• More than 50% of boaters did so on power boats
• 10% boated aboard a sailboat and
• 40% boated on canoes, PWC, pontoon etc.
Number of Boats
US Northeast South Midwest West
22,217
3,606
8,6036,258
3,750
(millions) • 17% of US households own one or more boats, down from 19% in 2000
Ownership Boat Type
US Northeast South
51.1
42.3
56.3
3.76
2.9
Powerboat Sailboat • Of households owning boats, more than 50% owned powerboats
• Average age of a cruising boat in use today is about 21 years
• The number of registrations since 2000 down about 3%
Most Popular Boating Activities
Socializing Cruising Sightseeing Fishing Diving
75.370.3
65
48.5 46.9
Boat Sizes
Under 16'
16-25' 25-39' 40-65 65 and larger
48
37
3
84
• Some 48% of boats owned in the US are less than 16’ long
• About 85% are 25’ or less
• Boats larger than 40 feet compose only 12% of boats on the water
Financing
• Rates– $25,000 to $49,999 5.99%– $50,000 to $100,000 4.49%– $100,001 to $2,000,000 4.37%
• 800 credit score - .25%• 30% down - .25%• So a loan of $100,001 with 800 score and 30%
down is 3.87%
Insurance
• Insurance can be written on older boats• Older boats require surveys• My Florida insurance rate dropped 10% last
year but climbed again this year– No named hurricane in Florida since Wilma, 2005
• After NE storms , there is talk about an entire east coast deductible
Boat Market
• Principle boat demographic, the Caucasian has increased 5.7% in past 10 years
• 25% of Americans went boating in 2011, up 6% from 2002
• Current boaters aged 25-44 are the next generation of big boat buyers
• Our website gets near 20,000 visitors per month
• Fleet of boats aging, average age of cruising boat is now 21 years old
• Few new boats of all types have been built since 2008
• Many brokerage boats shipped out of country
• Prices of new boats 40-65’ $500,000.00 and more
• Many lookers – few buyers
Pros Cons
• Poll tells the story
• 84% of lookers hesitant to buy
US Boat Sales20
03
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
0
5000
10000
15000
20000
25000
30000
21216
2504426436
28230 28309
2150322838
2486223961
2480423863
75308406 8282 8150 7879
65495542 5790 5494 5507 5080
PowerLinear (Power)SailLinear (Sail)
As of 11/6/2013
Boats on Market
Flor
ida
Mar
ylan
d
NC
Virg
inia SC
Geo
rgia
0
2000
4000
6000
8000
10000
1200010755
3015
1231 1197721 427
11119
3120
1264 1278 796394
Aug-13Nov-13
As of 11/6/2013
Boat Market Summary• Market not dead, but slow• There are still potential
buyers out there; potential buyers equal pent up demand
• There is good financing out there
• Buyers market is over; boats selling near or at asking prices
• Increased competition for buyers; more available boats now than 6 months ago
• Value of the boats sold increased significantly from $802 million to $938 million, a 17 percent rise.
• The average number of days that the boats sold had been listed for sale increased also, up from 258 to 265
• Sales trends going down; fewer sales
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www.paradiseyachtsales.net
