Boats Group released its H1 2021 Market Index Report that shows steadily increasing trendline. Here’s what it means for buyers and sellers…
For anyone that’s been within a mile of any body of water during the last year, you’ll know that the boating industry has undergone an incredible surge. More boats of all kinds are being bought, sold, fixed (if you can find an available mechanic) and enjoyed. The marinas are full, anchorages are packed, and boat ramps are scary busy. Boats Group, the behemoth company behind Yachtworld.com, boattrader.com, boats.com has released the 2021 Market Index report showing that not only was 2020 the start of a boat boom, but that 2021 continues and surpasses the trend that started with the pandemic.
Here are some pieces of data that we find interesting in the report:
- H1 2021 Power boat value is up 70% from 2020
- Only a 2% increase in sales volume was seen in H1 2021 (compared to H1 2020), showing that low inventory remains a challenge for buyers (great news for sellers).
- The biggest increase in sales volume was in the 46′-55′ foot range. These mid-size boats are up 81% in volume in H1 of 2021
- Boats Group reports $2.3b total value of boats sold in H1 of 2021
Here is what we think this means for our clients – Buyers and Sellers:
If you’re waiting for prices to drop to buy your next boat, you might be waiting a while. We have been observing the boat market closely. If a boat hits the market in reasonable condition at a reasonable price, it will sell fast and buyers need to be ready to move quick. Good boats are still available. If you are looking for a particular boat or a particular style of boat, call us and we’ll put together a custom search that is updated daily with boats meeting your parameters.
If you are trying to take a break from boat ownership, there has never been a better time than now to list your boat. The honest truth about boating during the last 50 years has been that you hardly ever break even, let alone make money. BUT, this last 18 months has flipped that standard on its head. Certain segments of the market are seeing boats appreciate, hold value, or simply sell sooner than they would have in the past. If you are wondering what kind of value the market might bring for your boat, call us and we will provide a market analysis to see if now might be the right for you to move up or move on.