UK. New marine report provides insight into 2010 regional sales trends and industry comparisons
Thursday, 06 January 2011
Tullett Prebon London Boat Show 2011, Stand L6, South Hall
The inaugural publication of the YachtWorld.com Market Index 2011 at this week’s Tullett Prebon London Boat Show, will provide a unique and comprehensive view of the marine industry both in the UK and globally. The new report provides key industry analyses from 2010 that indicate that 2011 should be a safer time to buy and sell a boat for consumers and trade.
The first of the quarterly reports shows that overall, whilst sales of used boats were down in 2010, total valuations held – with price increases offsetting the sales decline. More recent sales data trends point to boat valuations returning to more ‘normal’ levels in 2011, following erratic trends in 2010. Luxury boat buyers still continued to influx the market in 2010 keeping demand high and larger boat prices at a premium. The value prices which can now be found on smaller vessels may help to encourage first time buyers into the market where bargains can be found, supporting the need for ‘new blood’ in the industry.
Globally, the UK was lagging behind the EU in terms of sales until the latter part of 2010, however the report indicates that the UK may lead sales in the EU during 2011 with the more balanced sail/power split experienced in the UK. Where powerboat prices were hit in late 2010, sailboat prices improved; in 2011, a further downturn in powerboat values may be caused by competitive pricing tactics, while sailboats are more likely to hold their value. In the US, valuations have gained after a flat summer, brought about by a rise in consumer confidence which has impacted the US industry as a whole.
Ian Atkins, vice president and general manager of YachtWorld.com commented: “We are in a unique position as the world’s largest brokerage database to provide an insight into the overall marine industry. There are some very interesting trends and informative detail in the report which will be useful for the industry as well as giving a comprehensive overview of this sector for business in general.”
The report is published by YachtWorld.com – the largest worldwide database of brokerage boats. With boats for sale offered by over 10,000 individual yacht brokers in 143 countries, YachtWorld.com receives nearly 2.5 million global visits by boating enthusiasts each month. Data on completed boat sales is contributed by broker members to YachtWorld.com's proprietary website, SoldBoats.com, which currently stores detailed specifications and actual selling prices on over 500,000 used boats, sold since 2002.
The YachtWorld.com Market Index is available from the Yachtworld.com stand at L6 South Hall or from the Show Press Office.
Last Updated ( Thursday, 06 January 2011 )