Galati Yacht Sales On The Factors Behind The US Re-Emergence
At the start of the year we sat down with Darren Plymale of Galati Yacht Sales to gather his view on the fledgling American market; however, little did we know the US would provide so much activity throughout the year. We caught with Darren Plymale once again at the recent Fort Lauderdale Boat Show to discuss how 2014 has shaped America’s re-emergence.
Returning to sit on board the beautiful Westport built Amarula Sun, and with a record crowd sweeping the show, Darren Plymale gave us yet another informed view on the positivity across the yachting sector in America.
“First of all, Galati is ecstatic with what’s happening within our business. We continue to see growth, especially in our 80 foot and above market which has been very exciting … the large yacht and superyacht market is doing very well for us. As for the American market, we look at it more as a global opportunity for us. When you look at a yacht this size, it attracts people from all over the world – whether it’s China, Australia, Europe [or] South America.”
Increased market activity can not solely be attributed to the returning confidence of the high-net-worths of the world. Galati Yacht Sales is burgeoning and growing further into the superyacht market, which the brokerage firm attributes to a number of factors.
“I think when you take a look at the American market; we have a lot of wind in our sails. You take a look at the stock market which is hovering back and forth at 17,000, a record high. You have a lot of economic indicators, especially the prime lending rate is still down and low, and very affordable, and I think overall when you take a look at the consumer, we’re in a good spot right now. Land value continues to increase and there’s a lot of positivity.”
For more information from the US brokerage house, watch the full video above.