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May 6, 2013
Nordhavn brokerage sales skyrocket
Have we turned the corner on the stalled out boating market? If Nordhavn Yachts Sales’ 2013 brokerage activity has anything to do with it then the answer is a resounding yes. At the beginning of this year there were an astonishing number of Nordhavns seemingly hunkered down on the company’s register of brokerage yachts for sale with only one tagged as “pending”. But fast forward to the last day of April 2013 and Nordhavn Yachts Sales had recorded one of its most active brokerage sales periods in the company’s history, the likes of which haven’t been seen since the days pre-dating the economic downturn.
“We’ve literally cut our listings by two-thirds in the past four months,” said Nordhavn’s longest-employed salesman, Larry Gieselman. Having spent 32 years with the company, Gieselman has certainly endured the ebbs and flows of the boating market. And just like in tough times past, there are clear indicators the industry has made it over the hump. “I don’t think this is a false start,” said Gieselman. Since the fiscal crisis began in 2008, Nordhavn and the yacht market alike have seen little bumps in sales here and there, but they always seemed to be short lived. This time sales have been consistent and they are coming faster and more frequent with time. “It’s interesting how [buyers] have waited long enough and they don’t want to wait any more, so now there’s been a run on [inventory], and [inventory] that’s been out there for a long time, said Gieselman. “Now those boats are being seen as terrific value.”
So what exactly is behind the timing in this shift in sales activity? Gieselman points to a combination of a persistently bullish stock market leading to more profitable portfolios, better job security, a stabilized housing market, and perhaps the most key factor: “People are realizing time marches on and they’ve got to get on with their lives.”
The turn of events is a case study in supply and demand at its finest. Take the Nordhavn 55 model – just six months ago there were six Nordhavn 55s listed with Nordhavn Yachts that simply weren’t budging. Since the beginning of the year, eight Nordhavn 55s have been scooped up including one recently that had been listed for just one week, as well as a couple others listed with outside brokerages. (Nordhavn salesmen have the advantage of intimate familiarity with all Nordhavns and can help steer a buyer into the one that’s best for them - another advantage to going with Nordhavn whether looking to sell or buy.) Sellers are having their way with the buyer now, says Gieselman, which hasn’t been the case in quite some time.
The result? It’s driving up values of cruising Nordhavns, depleting the inventory of brokerage Nordhavns and ushering many would-be brokerage buyers - who can no longer find their boat on the used market – over to a new Nordhavn. “With an exclusive product like the Nordhavn, there isn’t always a Plan B if you miss out on a deal,” advises Gieselman. And the folks at P.A.E./Nordhavn are willing to offer exciting new designs that are very enticing to people. There are more choices in interior options for new boat buyers than ever before.
The foundation for Nordhavn Yachts Sales’ success is the international team of factory-direct sales reps a seller and/or buyer has working for them. With four U.S. offices, one in the U.K. and one in Australia, our staff is literally working the world over to find their customer the perfect boat or the perfect buyer. Contact the sales office closest to you if you are interested in finding your dream deal.