Florida Leads Big-Boat Market Rebound
Naples a Bright Spot for the Industry
There’s a rebound happening in the boating industry and Florida, deemed the hub of U.S. brokerage sales, is taking the lead, according to recent reports in Soundings Trade Only, a leading marine industry publication.
The first months of 2009 saw very low sales volume, but by mid-year, local big-boat brokers were able to surpass the monthly unit sales for 2008. Valuations outpaced 2008 in the fourth quarter and by December Florida brokers led the big-boat market rebound, which has “bred guarded optimism about 2010.”
This optimism hasn’t been so guarded in Naples, however. Record crowds attended the recent 2010 Naples Boat Show and many left as new boat owners.
“In a good year we sell maybe one or two boats and plant a few seeds,” said Pete Kostuk, certified professional yacht broker with Galati Yacht Sales. “This year we sold all four of our display boats in the first two days, including two buyers we’d never met.”
According to Jim Coburn, president of the National Marine Bankers Association, this type of sales breakthrough has also been recently reported by marine dealers in other sections of the country. A common thread among them is a focus on boating as a lifestyle and not a passing fad.
“This recession has caused a shakedown in the industry,” says Kostuk. “Those left standing are the cream of the crop and focused more than ever on customer service.”
Kostuk adds that the aged inventory that brought sales down in 2009 is almost gone and dealers are introducing new models and more traditional new boat packages. Values on trades are also becoming more acceptable. Combine these factors with our beautiful Southwest Florida weather and now is shaping up to be a good time to buy a boat in Naples!
”Boaters may not be going as far or as fast,” says Kostuk, “but they’re still boating.”
More than 70 million Americans participate in boating and there are more than 15 million registered boaters currently in the marketplace. Click here for a full report on 2009 brokerage sales and here for a 2010 industry outlook.
Tags: boat sales, Boat Storage, boating