Q&A with Matt Walford, CEO of d’Albora Marine Boat Sales
Q – How would you describe the current market?
A – Strong but interesting. There’s an insatiable appetite for boating but a shortness of inventory in the secondhand market and long delays for new boat orders.
Q – Where are prices?
A – Broadly speaking, they are high. That said, each segment of the market is different and deals can be found. New boats are compelling if you can wait given the robust secondhand market. The significant disparity between demand and supply is the biggest contributing factor to this environment however we expect it to change when people begin to travel more and boat less, even though this may take place over many years.
Q – Is it a good time to sell?
A – Yes and it may continue to be for some time yet given the limited availability of new vessels. Notwithstanding, with an improving travel scenario, there may be no better time to go to market than between now and Christmas.
Q – Is this type of market dynamic something you’ve seen before?
A – Not like this. Before the financial crisis there was demand, but also more adequate inventory. In this case there is super high demand with a lack of supply. This issue is the result of global supply chain and productivity issues but it’s also because we are to an extent, still rebuilding after the crisis. Shipyards are having their best years and they have been for a while, but output levels are still not where they were based on historical levels. Most well know shipyards have sold out into 2022, but as far out as 2025 at 40 metres plus.
Q – How is the industry changing?
A – The boats are getting bigger. More favourable charter regulations and improving large yacht infrastructure and services is making it more attractive to own a large yacht in Australia, or bring one here from afar. At the same time, there are more ways for people to get into boating than there has ever been. Boat share, syndication and charter is more accessible and caters for most budgets now.
Q – Are there any exciting updates you can share with us?
A – We can confirm we have a steady stream of new Azimut, Monterey and Bertram boats coming out over the next two years. This will also include various new models released by our brands which is even more exciting.