Fort Lauderdale Boat Show dealers hope for rising tide. Used Boat Sales.
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There is cautious optimism that the giant Fort Lauderdale boat show will see an increase in sales.
With the stock market gaining momentum and luxury buyers beginning to emerge from their shells, area boating businesses are hoping this year's Fort Lauderdale International Boat show will be a boon for sales -- and not just a spectacle for frugal spectators.
The 50th installment of the world's largest boat show -- running Thursday through Monday in Fort Lauderdale -- comes after several trying months in South Florida's maritime industries, which have been hit particularly hard during the global recession.
But the recent stock market rally and an upswing in traffic at boat shops in the past few months has the show's organizers and some vendors feeling optimistic that consumers are once again confident enough to put down boatloads of cash on fancy yachts.
``Boats are purchased when people have a certain comfort level in terms of job security and their stock market portfolios,'' said Frank Herhold, executive director of the Marine Industries Association of South Florida, which owns the show. ``We've seen some very economically significant increases in consumer confidence and an increase in the stock market. These are good bellwethers.''
Luxury spending jumped 29 percent in the third quarter of 2009 compared with the previous three months, according to a survey by Unity Marketing. And, since an average sized yacht can cost $1 million or more, boat show exhibitors are looking to luxury buyers to show up in full force with checkbooks in hand.
But unemployment and economic uncertainty remain high, and organizers admit they won't know whether the boat show will meet expectations until the numbers are tallied after the event.
Jay Reynolds, who chairs the boat show committee for the Marine Industries Association of South Florida, said that while sales were originally expected to be down by as much as 20 percent, the last three months have showed encouraging signs. For example, advance ticket sales are up 16 percent over last year and vendor registrations have rallied recently, although they are still down 17 percent, said Skip Zimbalist, CEO of the show's producer, Show Management.
PRICING UNCERTAIN
Because the market has been so turbulent, many dealers aren't sure how to price their yachts in order to attract buyers during a boat show that can account for as much as 40 percent of annual sales.
``We have conversations almost every day with other brokers and no one really knows what the price of most boats are,'' said Loren Schweizer, a consultant with Wood Marines Group, a Fort Lauderdale boat vendor. ``Generally, it's what people are willing to pay. It's a really crazy market right now.''
To convince cautious window shoppers to make a purchase, dealers are offering deep discounts and free extras like iPods, TVs and expense-paid vacations.
At Fort Lauderdale-based Anchor Yacht Sales, consultant Forest Roberts is offering a free satellite television, tender or water maker with the purchase of a yacht. He said these perks, ranging from $7,000 to $11,000 in value, could help him seal the deal on the sale of a $2 million boat.
Roberts said that because most of his clients are multi-millionaires, his business hasn't been as troubled by the downturn as most of his industry colleagues.
``The difference is, the people who have $2 or $3 million of net worth are going out to buy a $300,000 or $500,000 boat -- those are the people that the economy has bothered,'' he said. ``The people that we're dealing with have $10 or $15 or $100 million of net worth. The economy has bothered them, but not to a great extent.''
Roberts plans to exhibit two new 58-foot yachts at the weekend show, a decision he made after quickly selling the single 58-footer he showed at the Miami boat show in February. He had to turn two potential buyers away during that show, he said. The boats, which come completely furnished and wired, are each listed at just under $2 million.
This weekend's show will feature boats that are much cheaper and others much more expensive than those 58-footers, including kayaks, powerboats and megayachts. More than 1,500 floating vessels will be on display at six locations in Fort Lauderdale, covering 3 million square feet, about the same as in years past.
VARIETY AFLOAT
Herhold expects the show's diverse array of boat types and price points to help it reach a wide swath of consumers -- from the budget-conscious first timer to the billionaire enthusiast.
``Attendees will see everything from kayaks to megayachts, with a boat to fit everybody's pocket books and boating agenda,'' he said.
At last year's show, frugality ruled the day, with most show-goers either opting for lower-priced boats or deciding to postpone their purchases until their portfolios were in better shape.
A year later, with many economists saying that the worst has passed, there's a cautious optimism at some boat dealers that this year might be better.
Schweizer said he's seen an uptick in sales in the last couple months, even selling a $2 million boat for close to the asking price -- more than he expected to get for it.
Roberts already has orders for two $2 million boats from buyers in other parts of the state. There's a possibility that he might sell all five of the boats that he's taking to the show and maybe even get orders for more, a result that would be ``dynamo,'' he said.
Based on website traffic, Herhold expects a large contingent of international consumers to attend the show this year -- meaning foreign high rollers from countries unaffected by the global downturn could prop up sales.
Usually about half of the attendees -- estimated at more than 100,000 this year -- come from outside South Florida and about a third come from other states.
A little more than 10 percent come from international locations, Herhold said.
Want to sell your boat ?
Visit Sell A Boat .Com and list your boat until it's sold.
Call 888-306-BOAT for more information.
There is cautious optimism that the giant Fort Lauderdale boat show will see an increase in sales.
With the stock market gaining momentum and luxury buyers beginning to emerge from their shells, area boating businesses are hoping this year's Fort Lauderdale International Boat show will be a boon for sales -- and not just a spectacle for frugal spectators.
The 50th installment of the world's largest boat show -- running Thursday through Monday in Fort Lauderdale -- comes after several trying months in South Florida's maritime industries, which have been hit particularly hard during the global recession.
But the recent stock market rally and an upswing in traffic at boat shops in the past few months has the show's organizers and some vendors feeling optimistic that consumers are once again confident enough to put down boatloads of cash on fancy yachts.
``Boats are purchased when people have a certain comfort level in terms of job security and their stock market portfolios,'' said Frank Herhold, executive director of the Marine Industries Association of South Florida, which owns the show. ``We've seen some very economically significant increases in consumer confidence and an increase in the stock market. These are good bellwethers.''
Luxury spending jumped 29 percent in the third quarter of 2009 compared with the previous three months, according to a survey by Unity Marketing. And, since an average sized yacht can cost $1 million or more, boat show exhibitors are looking to luxury buyers to show up in full force with checkbooks in hand.
But unemployment and economic uncertainty remain high, and organizers admit they won't know whether the boat show will meet expectations until the numbers are tallied after the event.
Jay Reynolds, who chairs the boat show committee for the Marine Industries Association of South Florida, said that while sales were originally expected to be down by as much as 20 percent, the last three months have showed encouraging signs. For example, advance ticket sales are up 16 percent over last year and vendor registrations have rallied recently, although they are still down 17 percent, said Skip Zimbalist, CEO of the show's producer, Show Management.
PRICING UNCERTAIN
Because the market has been so turbulent, many dealers aren't sure how to price their yachts in order to attract buyers during a boat show that can account for as much as 40 percent of annual sales.
``We have conversations almost every day with other brokers and no one really knows what the price of most boats are,'' said Loren Schweizer, a consultant with Wood Marines Group, a Fort Lauderdale boat vendor. ``Generally, it's what people are willing to pay. It's a really crazy market right now.''
To convince cautious window shoppers to make a purchase, dealers are offering deep discounts and free extras like iPods, TVs and expense-paid vacations.
At Fort Lauderdale-based Anchor Yacht Sales, consultant Forest Roberts is offering a free satellite television, tender or water maker with the purchase of a yacht. He said these perks, ranging from $7,000 to $11,000 in value, could help him seal the deal on the sale of a $2 million boat.
Roberts said that because most of his clients are multi-millionaires, his business hasn't been as troubled by the downturn as most of his industry colleagues.
``The difference is, the people who have $2 or $3 million of net worth are going out to buy a $300,000 or $500,000 boat -- those are the people that the economy has bothered,'' he said. ``The people that we're dealing with have $10 or $15 or $100 million of net worth. The economy has bothered them, but not to a great extent.''
Roberts plans to exhibit two new 58-foot yachts at the weekend show, a decision he made after quickly selling the single 58-footer he showed at the Miami boat show in February. He had to turn two potential buyers away during that show, he said. The boats, which come completely furnished and wired, are each listed at just under $2 million.
This weekend's show will feature boats that are much cheaper and others much more expensive than those 58-footers, including kayaks, powerboats and megayachts. More than 1,500 floating vessels will be on display at six locations in Fort Lauderdale, covering 3 million square feet, about the same as in years past.
VARIETY AFLOAT
Herhold expects the show's diverse array of boat types and price points to help it reach a wide swath of consumers -- from the budget-conscious first timer to the billionaire enthusiast.
``Attendees will see everything from kayaks to megayachts, with a boat to fit everybody's pocket books and boating agenda,'' he said.
At last year's show, frugality ruled the day, with most show-goers either opting for lower-priced boats or deciding to postpone their purchases until their portfolios were in better shape.
A year later, with many economists saying that the worst has passed, there's a cautious optimism at some boat dealers that this year might be better.
Schweizer said he's seen an uptick in sales in the last couple months, even selling a $2 million boat for close to the asking price -- more than he expected to get for it.
Roberts already has orders for two $2 million boats from buyers in other parts of the state. There's a possibility that he might sell all five of the boats that he's taking to the show and maybe even get orders for more, a result that would be ``dynamo,'' he said.
Based on website traffic, Herhold expects a large contingent of international consumers to attend the show this year -- meaning foreign high rollers from countries unaffected by the global downturn could prop up sales.
Usually about half of the attendees -- estimated at more than 100,000 this year -- come from outside South Florida and about a third come from other states.
A little more than 10 percent come from international locations, Herhold said.
Want to sell your boat ?
Visit Sell A Boat .Com and list your boat until it's sold.
Call 888-306-BOAT for more information.
Labels: Boat trader on line, Boating, Boats, boats on line, buy a boat, economy, ft. lauderdale boat show, Used Boat Sales, Used Boats For Sale, yacht world
posted by SellABoat.Com @ 6:48 PM
