The Experts Were Wrong

Don Finkle with RCR Yachts shares the view from his full-service marine brokerage:

During the COVID pandemic, there was a rush to take up all sorts of outdoor pursuits, boating being one. Many newcomers bought boats, sail and power, and the demand surpassed the supply for a while. The “experts” predicted that after a few years these newbies would decide boating was not for them and used boats would soon flood back onto the market. Well, that never happened, at least so far.

Most of these folks found the joy of being on the water and continue to be boat owners. As a result the market is hardly flooded with used product, in fact good used boats continue to be in high demand and there is certainly no glut of available boats.

There is always more to the story, however, the tide did not lift all boats equally. The greatest demand is for late model boats with newer features and these command the higher prices. Boats built prior to 2000 are a tougher sell, and those older than 1990 even more so.

As they say in the car business, “there is a butt for every seat,” so eventually most of these boats will sell. Sadly, more and more are carted off to the scrap yard, as much a result of lack of care as well as simple aging.