Galati Yacht Sales On Taking Stock Of American Inventory
Galati Yacht Sales took the Fort Lauderdale Boat Show by force last week with an incredible range of different vessels for sale. We spoke to Darren Plymale of Galati Yacht Sales to discuss the market share and subsequent demand reflected in their varied fleet size, the rise and fall of yachts for sale in America and how that inventory is creating a go-to market for buyers from regions such as South America.
After forty-five years in the business Galati Yacht Sales has seen an ongoing fluctuation of demand across both the United States and Europe. While 2008 left the industry with a stagnating inventory of yachts for sale, this is a very different phase in the balance of brokerage.
“I think what’s happening in the market right now is having access to quality inventory, not so much quantity but quality, I think is so important right now [...] I think what we’re finding right now is limitations in the market, especially as it relates to the quality product that’s available and that’s boding well for us.”
The 2015 Fort Lauderdale Boat Show was a fully stocked display of some of the world’s finest yachts, but Darren Plymale’s theory of quality inventory flushing through and leaving future shows actively looking for new inventory is a new notion but an exciting one to say the least.
“I think that we’re not far away from coming to a boat show, and seeing most of this product sell and wondering ‘okay, how are we going to replenish this stock?’. When you look at it, there’s not a lot of quality listings out there. Let’s face it [Fort Lauderdale’s] dock is full, and this is a concentration of product that’s come from all around the world. Fort Lauderdale is one of the largest boat shows in the world and so people have their best foot forward, their best face on, the best product they can put into the market so these are the best of the best, it’s kind of like the SuperBowl.
At the same time, the market demand today and the progressing number of wealthy individuals in America and abroad, and even south of us in South America, are coming here to make their purchases. I don’t think we’re that far from seeing demand outpace supply.”
For a much more in depth insight into the American market, watch the above video with Darren Plymale.