There’s a Yacht of Money Floating Around

Want more indications that the local economy is booming, at least for some people?

Sales of large sailboats and motor yachts, while up just 2.5% statewide and 8.5% nationally in 1998, soared 21.4% in Orange County, according to a new study prepared Ohio-based Statistical Surveys Inc.

The study, which was released by promoters of the annual Newport Boat Show, says Orange County yacht brokers moved 20.9% of all boats 30 feet and longer that were sold in California last year. Los Angeles County placed second, accounting for 20.6% of all big boat sales, followed by San Diego County at 11.75%.

In total, Statistical Surveys says, California boat brokers sold 325 big boats last year, up from 317 in 1998. That included 68 sales in Orange County, up from 56 the previous year, and 67 in Los Angeles County, down from 72. San Diego County brokers also saw a sales decline, to 38 from 49, as the action moved into Orange County.

The biggest boost is in the sale of boats priced in the $300,000 to $500,000 range, says Tom Nuxoll, of H&S; Yachts in Newport Beach. “The larger the boat, the better.”

The boat show runs Wednesday to Sunday, with motorized boats at Newport Dunes and sailboats at the nearby Lido Marina Village in Newport Beach.