Market Update – Spring 2017

Spring is a time for YOTI to consider the year that is quickly passing, take stock and prepare for the very busy summer ahead. A huge point of note this year is that we only saw a very minimal slow down through the winter months due to a healthy, confident and well educated market. 2017 has already been a year of steady sales, lot’s of boat shows, world class regattas and of course lot’s and lot’s of sailing.

This year has seen the biggest year ever for our involvement in boat shows on all levels. We are happy to be seeing an increase in numbers and popularity of the local boat shows such as Pittwater Sail Expo in April. This event which grows every year is professionally organised with a fun and relaxed vibe allowing the industry to showcase their very best and in turn allow the boating public a fun easy free day on the water. We were very happy to also support and be supported by the Quays Marina Boat Show, Bobbin Head Boat Show plus our long list of national and international shows we attended this year included: Sanctuary Cove Boat Show, Sydney International Boat Show, the Australian Wooden Boat Festival in Hobart and Cannes Yachting Festival.

We have been pleased to see an increasingly educated market – buyers who know what they want and who understand the product and it’s value. More often, our owners are selling to upgrade rather than to ‘get out’ – a very healthy sign for sailing. At YOTI, one of our key functions is to present as much information as possible to our buyers so they can better make their decision. Without doubt, still the best performers are the well known production yacht brands from 35 – 45’ which have been well maintained and are correctly priced and critically are well marketed. Race yachts are still a big part of our sales yet we are seeing further increases towards multi functional yachts – quick boats which can race but also comfortably accommodate family and friends. One off or specialised cruising yachts are still being sort out from often some of our most seasoned and knowledgeable cruising sailors. Our buyers rightly so expect up to date information such as service history, and are very much in-tune with pricing. By focusing on our own results and market feedback, we are able to offer accurately priced vessels. We learn each yacht intimately in order to understand a superior level of product knowledge.

A further trend we see is an increasing level of nationwide buyers. Our national network of six East Coast offices has been critical in servicing a very mobile market. Professional delivery skippers and trusted road transport providers allow interstate and international purchasing a real consideration. Our buyers are achieving their sailing goals which is more often includes long distance passage making and extended time on board so more so than ever, the product needs to be trusted and understood.

Multi-hulls have been a significant growth area for YOTI which has been nurtured primarily by our dedicated multi-hull office at Boatworks on the Gold Coast. This area has been strengthened by our partnership with The Multihull Group (Lagoon distributors, the world’s biggest Catamaran manufacturers). Many mono hull owners are making the transition, allowing us to service all angles of the transaction.

We now prepare for what will certainly be a busy summer of selling and sailing. We are building our stock levels of production yachts, speed machines, catamarans and specialised cruising yachts. We look forward to a big season and are excited to be able to present our newest listings to our buyers with the tightest network, strongest industry connections and industry leading marketing.

Peter Mactier