H1 2020€¦ · length group also had the largest uptick in the total value of boats sold (+21%...

H 1 2 0 2 0M A R K E T I N D E X

INSIDE:COVID-19's early impact Buyers f lock to smaller segmentsViews of historic marketplace highs

Photo courtesy of Sea Ray

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The brokerage market closed out the first half of 2020

with the most dramatic rebound the marine

industry has ever experienced. To say these

have been uncertain, unexpected times - as

all familiarities, including how the industry

sells, are turned on their head - is an

understatement.

Around the world, the early spring selling season

was critically compromised due to canceled boat

shows, closed businesses, halted manufacturing

and restricted access to waterways. The lowest

dip in total worldwide sales in the first half of

the year (H1) occurred in the first week in April

and YachtWorld’s soldboats.com and YachtCloser

data sources show that global sales were down

-56% compared to the same time YoY. However,

no one could have predicted how quickly boat

buyers would flock to online inventory or the

historic volume of leads that would be submitted

in the wake of the pandemic. The increased

G L O B A LP E R S P E C T I V E

marketplace activity led to a groundswell in boat

sales in May and June, and by the final week of the

second quarter, the weekly number of sold boats

jumped +42% over the same week in 2019. While

the recovery came much sooner than expected,

the initial impact of COVID-19 caused a drag on

YoY boat sales in the first half of the year, showing

a -5% decline.

In this edition of the YachtWorld Market Index, we

will take a deeper dive into the data and illustrate

the early impact of COVID-19 on brokerage sales,

as well as the industry’s rapid recovery in the first

half of the year in the U.S. and internationally.

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G L O B A L P E R S P E C T I V E

U S & I N T L B R O K E R A G EC O M B I N E D S A L E S

U N I T E D S T A T E S O V E R A L L S A L E S

U N I T E D S T A T E S P O W E R & S A I L

U N I T E D S T A T E S B Y L E N G T H G R O U P

I N T E R N A T I O N A L O V E R A L L S A L E S

I N T E R N A T I O N A L P O W E R & S A I L

I N T E R N A T I O N A L B Y L E N G T H G R O U P

G L O B A L T R E N D A N A L Y S I SY A C H T W O R L D V I S I T S

U S & I N T E R N A T I O N A LS A L E S B Y B O A T A G E

U S & I N T E R N A T I O N A LD A Y S O N M A R K E T

I N R E V I E W

T A B L E O FC O N T E N T S

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The H1 2020 Market Index data is derived from Boats Group's soldboats.com and YachtCloser data sources.

U S & I N T E R N A T I O N A L B R O K E R A G EC O M B I N E D S A L E S

GLOBAL H1 2019 H1 2020 % CHANGEVALUE OF BOATS SOLD $5.2 BILLION $4.1 BILLION -21%

NUMBER OF BOATS SOLD 31,279 29,813 -5%

US TOTAL H1 2019 H1 2020 % CHANGEVALUE OF BOATS SOLD $3.1 BILLION $2.8 BILLION -12%

NUMBER OF BOATS SOLD 23,738 23,981 1%

INTL TOTAL H1 2019 H1 2020 % CHANGEVALUE OF BOATS SOLD $1.5 BILLION $982 MILLION -34%

NUMBER OF BOATS SOLD 5,340 4,273 -20%

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1500

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500

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20202019Global - Weekly Sold Boats

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TOTAL H1 2019 H1 2020 % CHANGENUMBER OF BOATS SOLD 23,738 23,981 1%

VALUE OF BOATS SOLD $3.1 BILLION $2.8 BILLION -12%

AVERAGE BOAT VALUE $133,040 $116,233 -13%

POWER H1 2019 H1 2020 % CHANGENUMBER OF BOATS SOLD 20,518 21,297 4%

VALUE OF BOATS SOLD $2.7 BILLION $2.4 BILLION -11%


SAIL H1 2019 H1 2020 % CHANGENUMBER OF BOATS SOLD 2,643 2,225 -16%

VALUE OF BOATS SOLD $252 MILLION $213 MILLION -15%

AVERAGE BOAT VALUE $95,196 $95,875 1%

U N I T E D S T A T E S P O W E R & S A I L

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20202019US - Weekly Sold Boats

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LENGTH H1 2019 H1 2020 % CHANGE

< 26’Number of Boats Sold 11,233 12,626 12%

Value of Boats Sold $417 MILLION $505 MILLIION 21%

Average Boat Value $37,162 $39,971 8%

26’—35’Number of Boats Sold 6,854 6,530 -5%

Value of Boats Sold $580 MILLION $583 MILLION 1%


36’—45’Number of Boats Sold 3,813 3,313 -13%

Value of Boats Sold $691 MILLION $608 MILLION -12%


46’—55’Number of Boats Sold 1,163 900 -23%


Average Boat Value $365,813 $365,246 -0.2%

56’—79’Number of Boats Sold 552 493 -11%


Average Boat Value $841,186 $836,322 -0.6%

80’+Number of Boats Sold 123 119 -3%


Average Boat Value $4.7 MILLION $2.9 MILLION -37%

U N I T E D S T A T E S B Y L E N G T H G R O U P

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TOTAL H1 2019 H1 2020 % CHANGENUMBER OF BOATS SOLD 5,340 4,273 -20%

VALUE OF BOATS SOLD $1.5 BILLION $982 MILLION -34%


POWER H1 2019 H1 2020 % CHANGENUMBER OF BOATS SOLD 2,935 2,444 -17%

VALUE OF BOATS SOLD $1.16 BILLION $746 MILLION -36%


SAIL H1 2019 H1 2020 % CHANGENUMBER OF BOATS SOLD 2,401 1,823 -24%

VALUE OF BOATS SOLD $321 MILLION $230 MILLION -29%


I N T E R N A T I O N A LP O W E R & S A I L

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International - Weekly Sold Boats 20202019

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LENGTH H1 2019 H1 2020 % CHANGE

< 26’Number of Boats Sold 3,208 2,692 -16%


Average Boat Value $144,326 $137,581 -5%









Average Boat Value $600,021 $474,693 -21%



Average Boat Value $2.2 MILLION $2 MILLION -7%

80’+Number of Boats Sold 24 23 -4%


Average Boat Value $11.1 MILLION $4.5 MILLION -59%

I N T E R N A T I O N A LB Y L E N G T H G R O U P

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JANUARY FEBRUARY MARCH APRIL MAY JUNE

+7% +11% +3% +8% +21% +25%

G L O B A L T R E N D A N A L Y S I S Y A C H T W O R L D V I S I T S Y o Y I N C R E A S E( 2 0 1 9 - 2 0 2 0 )

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U S & I N T E R N A T I O N A LS A L E S B Y B O A T A G E

Boat Age

Boat Age

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U S & I N T E R N A T I O N A LD A Y S O N M A R K E T

Days on Market

Days on Market

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I N R E V I E W

As historic numbers of people around the world browsed for boats in Q2, our data revealed that smaller, budget-friendly boats were among the most popular during the period. In the United States, boats under 26-feet led all length categories in terms of transactions and saw significant growth in the number of sales over last year (+12% YoY). This length group also had the largest uptick in the total value of boats sold (+21% YoY) and the highest increase in average price per boat sold (+8% YoY). Internationally, though sales for all length categories including the under 26-foot segment were down in H1, boats under 26-feet also saw the most recorded deals. Boats in the 26 - 35-foot size range saw a +2% lift in the average sale price per boat sold. A view of vessel sales by boat age shows that in the United States 35% of boats sold in the first six months of 2020 were newer boats under five years old; 79% of all reported boats sold were under 20

years old. Whereas the international report for sales by boat age reflects a more evenly distributed range of interest for boats under 20 years of age; 15% of boats sold were under five years old, and overall 66% of boats sold were under 20 years old. Regarding the number of days boats spent on the market in H1, boats in the United States took less time to sell than boats in other countries. In fact, 17% of boats sold within a 30-day timeframe and 52% of the running total of boat sales closed within 150 days. Internationally, 36% of the running total of sales sold within 150 days and 56% of boats sold by 240 days on the market. Heading into the second half of the year, we will be watching at least two of the remaining big unknowns: Inventory levels and boat shows.

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H 1 2 0 2 0M A R K E T I N D E X

H1 2020€¦ · length group also had the largest uptick in the total value of boats sold (+21%...

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Transcript of H1 2020€¦ · length group also had the largest uptick in the total value of boats sold (+21%...