Boat unit sales in 2007 dropped to the lowest number the National Marine Manufacturers Association has recorded since the mid-1960’s.
Spader Business Management is a company that surveys this kind of stuff. They found that the boat dealers that they polled this year reported an average decline of 61 percent in net profit over their performance last year.
What does this mean? It’s a heck of a time to buy a new boat right now in the USA.
They also report that brokerage sales have dropped dramatically and that even their listings are down in number. It seems that folks that want to get rid of their boat now are aware of this market downturn and are not even attempting to sell.
This is good news for you if you are ready to sell your boat and are flexible in price. There is less competition and that should result in more inquiries on your boat.
Perhaps you have had your boat on the market for awhile, dropped your price and still no takers. Here’s a new idea. Sell her to somebody who doesn’t live here!
Every single yacht that I have sold for my clients over the last 10 months have been to foreign buyers. Why?
Have you ever traveled to another country from the USA when our dollar was strong against other world currencies? Remember when it felt like a bargain getting clothes, hotel rooms, booze, everything for what seemed like half price once you exchanged your money? That is how foreign boat buyers view boats for sale in the United States. They come here looking for a boat to take home because even after paying for transport it is still a lot cheaper than buying the same boat at home.
How do you track down that foreign boat buyer and get him to take a look at your boat? Stay tuned for our next episode of Boat Sales During This Financial Crisis!
And if you can’t wait you can contact me for a little personal advice.
Until next time – cheers!