United Yacht Sales defends three per cent sales increase
United Yacht Sales has announced it sold three per cent more boats in 2023 than in 2022. The company says that this might seem like a modest increase, but when the obstacles of inflation, higher interest rates, and boat insurance challenges are factored in, and the assertion that – overall – there were fewer yachts for sale on the market in 2023, it was obviously difficult to meet expectations.
“Our sales were up slightly in 2023 over 2022, but still not to the same level as we saw in 2020-2021 during the pandemic,” says Captain Jeff Palmer, president of United Yacht Sales. “What’s impressive though is that our gross commission paid out to our team of yacht brokers was up almost 20 per cent over last year. I would put our sales and support team up against anyone in the industry. We are capturing more of the available sales activity, but continuing to recruit top brokers, investing in our support team, and committing to marketing our clients’ listings.” This, he says, “has been a winning combination for us.”
Among its 2023 highlights, United Yacht Sales cites the largest boat (size) it sold as Shalimar, a re-fit 1994 Benetti Custom 118′ Raised Pilothouse (pictured above). This Benetti was outfitted for a professional yacht charter program with accommodations for up to 10 guests along with seven crew and was listed for $3,100,000. The Ocean Alexander 85, United Yacht Sales’ highest priced yacht – listed at time of sale for over $5.6m – has a top speed of 24 knots, and can accommodate up to eight guests and was sold by broker Ray Mills.
“Yachts are expensive, but the enjoyment and pride of ownership far outweigh the cost,” says Peter Schmidt, founder of United Yacht Sales.
“Not everyone can afford a yacht, but no one should feel guilty about owning one. In fact, yacht owners should feel proud they have the deposable income to live the yachting lifestyle and that they are using their wealth to improve the lives of the many that depend on yachts for their livelihoods. There is no better way to enjoy one’s economic good fortunes than by owning a yacht.”
But, “with jumps in interest rates and inflation in 2023, we saw more boating consumers being price sensitive and deciding to wait things out before buying their next boat,” Frank Hugelmeyer, NMMA president, told MIN earlier this month. “In the meantime, [they’re] picking up a personal watercraft to enrich their time spent on the water.
“The nearly 1m people who purchased a boat for the first time during the height of the pandemic continued to spend record time on the water in 2023, helping drive an economic impact of $230bn. As we enter 2024, we expect Americans’ desire to be near water to continue as more people seek ways to prioritise health and wellness and enhance their quality of life, which has the industry focused on continued innovation and ensuring greater access to our public waters.”
United Yacht Sales has had some famous boats on its books. In 2022, Seafood, a 60-foot Striker Sportfish that appeared in the movie Caddyshack, was listed and sold. Last year, The Stugots, a boat made famous by the cult-classic series The Sopranos, was listed for sale in Stamford, Connecticut. It’s being sold under the name Never Enough.
