Boating is
booming:
How to ride the wave of demand and get top dollar for your boat
Not only is it peak boating
season, but the impact of
COVID-19 has inspired a
renewed interest in boats from
coast-to-coast as people start getting
outside and enjoying the water
while maintaining social distancing.
Boat Trader - boating's largest
online marketplace - confirmed this
spike in demand in all regions across
the country and reported that their
traffic in the second quarter jumped
74% over 2019. Even areas less
known for boating are seeing
record-high listing engagement.
What's more, all boat types, new
and used, are experiencing a buying
boom with center consoles, pontoons,
and ski/wake boats among
the most popular segments in terms
of lead volume.
Because many boat manufacturers
around the world were forced to
reduce or halt production in the wake
of the global pandemic, the current rise
in market activity suggests there will be
tighter inventory later in the year. As
interest in boating shows no signs of
slowing, and supply shrinks as new
boaters buy boats, the time is ripe for
current boat owners to ride this wave
of demand and sell and upgrade now
before a possible waiting period for new
models sets in.
What do surging boat sales mean for
boats currently sitting in driveways?
Buyers are snapping up affordable
inventory: Right now, as historic numbers
of people are looking to buy a boat,
marketplace insight shows the highest
demand is for vessels priced under
$25,000, followed by boats under
$50,000.
Sale prices are up: According to data
from Boat Trader, in May and June the
average sale price per boat sold in the
used, under 26-foot category,
increased 5.24% - more than $1,600 -
over last year. Though there are many
factors that determine the sale price
of a boat, like condition, engine hours
and age, this trend is yet another signal
that demand is strong.
Families want to go boating:
Americans, to the tune of more than
10 million boat shoppers per month,
are relying on the convenience of
technology more than ever to get on
the water. For a minimal price, you
can sell your boat locally on Boat
Trader and get up to 10 times the
exposure of free ads. The site also
populates boat specs from the manufacturer,
making it easy to list and
market your boat.
18 LIFE & HOME