HMY Yachts 1st Quarter 2017 Brokerage Market Results
HMY's yacht brokerage sales in the first quarter ended with a 57% increase in revenue over Q1 2016, mainly driven by a 61% spike in the average deal price of yachts sold. The latest brokerage analysis from Yachtworld.com reported that brokerage sales across the industry were down 2% in volume, but saw a 24% increase in average deal price, 37% less than the increase seen at HMY. Also notable was HMY's average number of days that listings were on the market which ended up being 10% less than the industry average for the quarter, according to YachtCloser data. Whether driven by the highest level of consumer confidence reading in 16 years, the unseasonably warm winter, or the great selection of brokerage yachts that the HMY team has listed, first quarter sales were extremely positive and beat industry trends by a substantital margin.
"This is a really good time to list your yacht," says Tim Derrico, Director of Sales for HMY. "We are especially seeing a lot larger, more expensive boats sell right now and some are selling in less than a month. If you have a late model motor yacht, cruising yacht, or sportfish in good condition with a decent amount of hours on the engines, chances are that our team already has someone looking to buy it. Our average yacht listing right now is just under a million dollars and I think that says something about where the market is heading."
While pre-owned Viking sales at HMY were up 26% over Q1 2016, the increase in motor yacht sales was the biggest news of the quarter. Revenue from cruising yachts, express yachts, and motor yacht brokerage sales was up 113% over last year. "Our motor yacht sales team has been astounding so far this year," says Tim. "We have the most knowledgable and professional yacht brokers in the industry that are located in the best marina offices. When combined with our dominant marketing presence, these are the kinds of results we expect and we only anticipate it growing even more. If you are looking to sell your yacht this year, HMY has the team, the network of buyers, and the marketing reach to help you achieve your goal."
*Not included in the final brokerage numbers was the full value of a 502' Cruise Ship sold in March by HMY Yacht Sales Professional Nick MacPherson.
Here are just a few of the used yachts sold through HMY during the first quarter of 2017:
1993 Christensen 130' Motor Yacht
2010 Princess 95' Motor Yacht
2014 Lazzara 92' LSX
2009 Lazzara 84'
2012 Hatteras 80' Motor Yacht
2006 Lazzara 80' Sky Lounge
2005 Whiticar 76' Custom Sportfish
2008 Lazzara 75' Motor Yacht
2006 Ocean Alexander 74' MY
2012 Outer Reef 70 Pilothouse
2015 Viking Yachts 70' Convertible
2007 Princess 70'
2008 Viking Yachts 68' Convertible
2007 Viking Yachts 68' Convertible