The Strong State Of The Used Viking Yachts Sportfish Market
If you’re looking to buy or sell a used Viking Yachts sportfish boat, there may be no better time than now thanks to a confluence of market-friendly factors such as historic consumer confidence, favorable fuel prices and interest rates, and strong GDP.
And there’s no better brokerage firm to buy a Viking sportfish from than HMY Yachts. HMY is the undisputed leader in Viking Yachts sportfishing boats, listing and selling more Vikings than any other firm.
At the close of Q1, HMY has already sold nearly 30 pre-owned Viking sportfish with more than 15 under contract.
“At this point we are way ahead of comparable Viking sportfish sales for 2018,” said Tim Derrico, HMY’s Director of Sales. HMY sold 78 used Vikings in 2018 – outpacing 2017’s total – and the current pace puts them on track to blow those numbers out of the water.
So, what’s going on?
Yacht sales are particularly prone to the whims of the consumer market. Wall street, politics, gas prices, interest rates; all of these fluctuating factors contribute mightily to consumer confidence when it comes to high-end durable luxury goods.
Right now, all signs point to go and consumer confidence is high—the Consumer Confidence Index (CCI) is at a historically strong level. CCI has not performed at this level since 2000 and is averaging nearly 10 points higher than 2017 and 57 points higher than 2013.
A robust stock market, positive fuel prices, favorable interest rates, and a strong GDP all combine to produce a hot market for buyers and sellers alike.
HMY previously wrote about the strength of the seller’s market due to economic trends last year, in Two Reasons Why Today is a Yacht-Seller’s Market, and it continues today, while also boding well for buyers.
HMY’s Viking Expertise
When it comes to listing, selling, and buying Viking’s beautiful, rugged, tournament-pedigree sportfish battlewagons, one name is synonymous with the Viking brand—HMY.
HMY has been the largest Viking dealer in the world for 27 years and is consistently one of the best. This is not by accident.
With more Viking specialists on staff with firsthand knowledge than any other brokerage in the industry, HMY sets itself apart as the undisputed authority on Viking sportfish. The sales team is comprised of Viking experts who have sold numerous new and used Vikings, fished in tournaments on Vikings throughout the world and some of whom are ex-captains who have run Vikings for years. Additionally, HMY’s expansive network of customers and premier selection of Viking models guarantees market visibility that no other brokerage firm can offer.
Along with the knowledge and expertise of the Viking product, another simple fact is that HMY has most of the used Vikings listed, controlling the market. But you still have to properly and strategically market to the right people. HMY’s industry-leading, extensive marketing programs put these sportfish yachts in front of potential buyers around the world, online and in print so when they’re ready to buy, HMY is only a click or phone call away. And because most buyers know that they will more than likely come through HMY when they are buying a Viking sportfish, more and more, they are coming directly to the experts.
Derrico is also seeing another reason for the rapid pace of sales — the increase of sales of Vikings priced in the mid-range of $1.5-3 million such as “Shooter” (a 2013 66’ Viking Convertible) and “C Hawk” (a 2007 64’ Viking Convertible). “We are seeing a surge in the sales of the mid-priced Vikings, a market that really started to gain momentum early this year. Last year’s Viking sales were mostly in the lower and higher ends of the used Viking market.”
If you’ve been considering upgrading, trading, or buying a Viking sportfish, the time to act is now. Conditions are ideal to find your next perfect boat, and HMY stands ready to assist you every step of the way. Contact us today to take advantage of this perfect storm or risk being left stuck on the dock. Speak to an HMY Viking Specialist: 561-331-5200
Vikings on display at one of HMY’s 12 locations, Harbour Point Marina in Palm Beach Gardens.