Boat sales looking positive as Puget Sound brokers kick-off buying season

New fuel-saving technologies continue to show-up on the water

SEATTLE, Sept. 6, 2006 -- Thinking about a boat?  Now's the time.  The 2006 Lake Union Boats Afloat Show, Sept. 13 - 17 in Seattle marks the end of the summer boating season and the beginning of the boat buying season for Puget Sound boaters and yacht brokers.
 
With fuel prices stabilizing and innovative fuel-saving technologies making their way on-board, boat sales continue to rise in the state and for the 85 yacht brokers and boat dealers that will exhibit some 350 boats at the show.  
 
"Our member brokers are enthusiastic about the strength of the state's recreational boating industry," says Jonathan Ives, Executive Director of the Northwest Yacht Brokers Association, organizer of the Lake union Boats Afloat Show - one of two principal shows held each year in Seattle.  "We're seeing many first-time buyers in the market as well as experienced boaters looking to take the next step," says Ives. 
 
In 2005, boat sales activity in the State of Washington grew by $56.4 million – an 8 percent increase from 2004 with $777.5 million in sales of new and previously owned power and sail boats according to the Northwest Marine Trade Association.  Recreational boating is a major consumer goods industry in the U.S. with $14.7 billion in annual sales and services of new boats and motors.
 
"For many first-time buyers, seeing their dream sail or power boat on the water helps make the boating lifestyle a reality," adds Ives. "For others, the show is an opportunity to 'try-out' a yacht as a second home."  . 
 
The Lake Union Boats Afloat Show is open daily from 11 a.m. to 6 p.m. and weekends from 10 a.m. to 6 p.m. at Chandler's Cove on South Lake Union in Seattle.  Over 9,000 boating enthusiasts of all ages visited the 2005 Lake Union Boats Afloat Show.
 
"If you're a boater, you love to be on the water," says Cory Gracy, Vice President of Everett's Sharp Yachts, who has seen a three-fold increase in sales of more fuel-efficient catamaran-style hulls since the last half of 2005.  "Higher fuel prices have driven boaters to look for more efficiencies," says Gracy. "Catamarans are lightweight and burn about one-third the fuel as a mono-hull," he says.  "The ride is smooth in heavy seas - more like a heavy boat."
 
Along with efficiency, value is important to new buyers.  "Our Bellevue and new Issaquah stores are seeing a lot of new boaters getting into the market," says Mark Helgen, NW Regional Manager of Olympic Boat Centers, whose nine Washington locations cater to first-time buyers looking for affordable power boats from 10 to 60 feet. "Boaters are keenly aware of the price of fuel. They're shopping around - looking for value," he says. "Unlike a car, which is used everyday, people mostly enjoy their boats on the weekend," adds Helgen.  "For smaller runabouts used on the weekends, the increased price of fuel has a minimal impact."
 
Michael Elliott, owner of Seattle's Elliott Bay and Shilshole Bay fuel docks believes that despite a consciousness of higher fuel costs, boaters are still as enthusiastic as ever about being on the water, just more value conscious.  "Most boaters that I talk to with vessels over 40-feet have done the math and are not going to stop boating."  says Elliott, a 14-year veteran of the marine fuel industry.   "Owners of smaller, trailerable boats in the 18 to 22 foot range are (also) enjoying their boats," he said.  "They are just more price conscious (about fuel)."
 
With water everywhere in the Northwest, larger yachts are even viewed by many as a second home. "In Colorado, people buy ski cabins, in Minneapolis they have lake cabins and in New Jersey they have cottages on the beach," says Scott Alprin, Owner / Broker with Emerald Bay Yachts in Gig Harbor who helps buyers connect with sellers of previously owned boats from 25 to 50 feet.  "In Washington, a lot of these boats are second homes," adds Alprin, who after three years in the industry, opened his own brokerage in October. 
 
In 2005, U.S. boating participation grew for the second consecutive year, rising to 71 million in 2005 from 69 million in 2004 according the National Marine Manufacturers Association which tracks economic data on the industry.   The number of boats on the water also grew to 18 million in 2005, a net gain of some 340,000 from 2004. 
 
Smallest and Largest Boats 
Boats on display - and for sale, include 17-foot affordable, trailerable boats from Olympic Boat Centers priced from $129 a month to a 130-foot mega yacht manufactured by Westport Yachts in Grays Harbor priced at over $14 million.  Even a 32-foot personal submarine will be on display - and for sale, at the show.
 
Fuel-saving Technology
Technology continues to impact in the pleasure boating industry.  Volvo Penta, a manufacturer of propulsion systems for stern-drive pleasure boats, has developed a new Inboard Performance System (IPS), where the orientation of the propeller is reversed  to find "clean" water to "pull" the boat, rather than "push" as with conventional outdrives.  The new IPS technology, available for boats 32 to 48 feet, cuts noise by 7 decibels and delivers a 20 - 40 percent savings in fuel efficiency.
 
Lightweight Materials
Even local luxury yacht designers and builders are keeping an eye on fuel-efficiency by turning to aerospace-grade materials to save weight.  By finding, and in some cases developing, technical variations of high-demand luxury finishes such as marble countertops,  Seattle's Adventure Yachts hopes to save weight - and fuel, while not sacrificing high-end aesthetics for buyers of its new Regency line.
 
Solar Powered Boats
Solar power is also starting to make its way to the water. Students at Washington State University will display an experimental 19-foot solar-powered boat that includes hydrofoil technology. The canoe-like vessel was designed by WSU students for the international Solar Splash competition in Fayetteville, Arkansas. In 2006, WSU placed sixth out of 16 competing universities.
 
All-Electric Water Taxi
On the practical side, Seattle Water Taxi - the first and only all-electric water taxi service in the U.S., will provide water taxi service on-call and from select locations around Lake Union throughout the show.  The 21-foot, Coast Guard certified boats can hold a charge for up to 8 hours while scooting around the lake.  With top speeds of just under the 7-knot Lake Union speed limit, 10 people can safely make a trip from Fremont to South Lake Union in about 17 minutes.
 
About the Northwest Yacht Brokers Association
The Northwest Yacht Brokers Association www.nwyachtbrokers.com is a non-profit marine trade group founded in 1988 consisting of over 340 marine brokers, dealers and other industry professionals representing over 230 marine-related businesses in the Pacific Northwest. Subscribing to the strictest code of ethics, NYBA members are committed to bringing integrity and professionalism to the buying and selling process of new and previously owned pleasure craft. NYBA plays an active role in marine youth and education programs and is active in creating a greater interest in the welfare and safety of the boating public. Along with the Northwest Marine Trade Association, NYBA's January and September Boats Afloat Shows connect thousands of boating enthusiasts with marine professionals and the finest pleasure craft the Northwest has to offer.

 2006 LAKE UNION BOATS AFLOAT SHOW
 
What:
Seaing is Believing! 2006 Lake Union Boats Afloat Show
Mega-yachts up to 130 feet, trailerable boats for every budget, even a 32-foot submarine and everything you need to know to help you get on the water. All on the water at South Lake Union's Chandler's Cove.
 
When:
Wednesday, Sept. 13 – Sunday, Sept. Sept. 17
 
Times:
Weekdays – 11 a.m. to 6 p.m.
Weekends – 10 a.m. to 6 p.m.
 
Tickets:
$10 Adults, $5 (Children 12 and under)
$18 Three Day Pass

Listen to the following Seattle-area radio stations to win free tickets:
AM: KIRO 710, KOMO 1000, KVI 570, KTTH 770, KPTK 1090
FM: KING 98.1, 570, KJR 95.7, KWJZ 98.9
 
Getting There
Located at Chandler's Cove on South Lake Union, the Boats Afloat Show is just off the I-5 Mercer Street exit. Designated parking for $5 per day is located at 5th and Mercer about five blocks west of the show near the Seattle Center. A free shuttle runs between the Boat Show and the 5th and Mercer parking lot every 15 minutes during show hours.
 
Help Ease South Lake Union Traffic – Take the Lake Union Water Taxi
Seattle's Electric Boat Company will provide water taxi service on-call and from various locations around Lake Union throughout the show, beginning one hour prior to opening and concluding one hour following closing. Cost is $5 each-way. Call 206-223-7476 to arrange for pick-up.