It's that time of year again when boat show season is over, summer is on the horizon, and anyone without a boat is closely watching the brokerage market to see what might become available. Overall, the market still remains strong, but is not at the peak of activity as the last few years. We are beginning to see more price reductions, boats staying available longer (longer than a few days at least!), and more inventory come online.
So what can buyers expect when looking for motor yachts for sale that fall within their price range?
According to the yachting industry MLS database, the average sold price of a motor yacht over the last 2 years is $1,270,400. This represents all motor yachts sold in the U.S that were over 50-feet in length. It also represents over 90% of the asking price of the boat at the time of sale, a clear indication of what the market has been like the last 24 months.
(Below: A good example of a pre-owned motor yacht on today's market, a 75' Hatteras priced at over $1.1 million.)
The price range of the motor yachts used in this analysis extended from $17,500 on the low end (a Krogen trawler from the 1960s) to well over $20 million on the high end of the spectrum (a 125' Westport Yacht). This is such a wide range of different types, sizes, and prices of motor yachts it's difficult to really tell what you should be expecting to pay for your own comfort zone. Our recommendation is always to select a professional yacht broker that has both experience with your type of boating and good references.
If we break down the list of sold boat data by length range, here are the average prices of motor yachts sold:
- 50-59 feet: $553,631
- 60-69 feet: $987,163
- 70-79 feet: $1,867,852
- 80-89 feet: $2,259,106
- 90-99 feet: $3,343,704
- 100-109 feet: $3,925,962
(Below: Many late-model luxury motor yachts, like this Ocean Alexander 85, come under contract within 30 days of hitting the market.)
Are You Trying To Price Your Motor Yacht To Sell?
Have you ever received advice from a doctor to not google your symptoms if you're feeling ill, but rather talk to a trained professional about what's happening? If you're looking to sell your yacht, your first inclination might be to look online and see what other similar boats are priced at. These are similar scenarios in that what you see online may not be the full story. You can be easily led astray looking at what boats are priced at, without knowing the history of the boat or the current situation of that owner.
Maybe a similar boat to yours that is priced low has had some structural damage or the owners are in need of a quick sale? Conversely, perhaps that boat priced high is inflated due to the owner's perceived value of their yacht and has convinced their broker to list it at that price. You simply never know. If you're trying to figure out where to list your yacht, it costs you nothing to have a conversation with a yacht broker.
At United Yacht Sales, we have over 250 yacht brokers worldwide and that specialize in many different types of boats. Whether selling a sportfishing yacht, a sailboat, or a luxury motor yacht for cruising, we have the expertise on staff to provide you with an easy, no-hassle market evaluation. We'll tell you what we think you should list your boat at, how long it may take to sell, and what that final sold price might be. We will even give you advice on things you can to do help ensure a quick and easy sale.
For more information on what your motor yacht might be worth on today's market or for information on what you should budget for your next boat, please contact our main office at 772-463-3131. We look forward to helping you achieve your boat ownership goals!
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