used sailboat market 2023

WHAT’S HAPPENING to sailboat prices? UPDATED SEPTEMBER 2023.

This article was originally written in 2020. much has changed therefore i’ve added an addendum..

We’ve all been watching it . It is clear that the resale values of used “production” fiberglass sailboats over a length of 20 feet or so are plummeting to new lows. Yet the prices of some smaller sailboats, if new or nearly new, are rising rapidly with inflation. Today you can buy five old 35-foot sailboats for the price of one new 15-to-21 footer. The question is… why?

BACKGROUND: The advent of fiberglass as a means of building sailboats began in the 1960s. Up until that time only fabulously wealthy individuals could afford a yacht. It took many months of work by highly skilled shipbuilders to build just the hull of a wooden sailboat, and this represented only a fraction of the fully completed yacht’ s cost . But fiberglass cut the time to build each part that could come out of a mold – the hull or the deck – to maybe one week for let’s say a 35-footer. And the work could be done by minimum-wage workers who could be trained in a few hours to lay up a fiberglass hull or deck and the other parts. The vastly diminished prices attracted hoards of new owners to the pastime of sailing. And whole new things called “marinas” were built to store them… up until the advent of fiberglass yachts were kept on moorings.

The fiberglass layup process emitted a noxious chemical—styrene—into the atmosphere and the lungs of anyone nearby. But money was being made by the factory owners, the workers had jobs, and fun was being had by a whole new class of boat owners. What has changed today?

Remembering that prices are nothing but the product of the law or supply and demand, here is why a few small, new sailboats have high prices that are going higher, and many larger, old sailboats have prices that are low and going lower.

1. ENVIRONMENTAL CONCERNS. When fiberglass yachts first started to be built it was possible to do what is called “open layup.” The byproducts of curing polyester and vinylester resins simply flashed off into the air and disappeared. Today open layup is only permitted in small shops who squeeze under the radar of OSHA, and rightly so. It is still legally possible to lay up small fiberglass parts in a small shop with no nearby dwellings. But the larger factories that spewed out tens of thousands of affordable yachts and tons of styrene into the air are all gone. Factories that created the thousands of cheap yachts that are now for sale on Craigslist for next to nothing are now fond memories. But thank you PEARSON, O’DAY, CAPE DORY, MORGAN, IRWIN, CATALINA, CAL, SHANNON, SQUADRON, HINCKLEY, MORRIS, ALDEN, FRIENDSHIP, CABO RICO, and countless others for bringing the joys of sailing to many.

2. DEPRECIATION. In the early days nobody knew how long a fiberglass sailboat might last. We were all used to cars, which lasted ten to fifteen years and depreciated accordingly. I talked to a finance salesman once at an Annapolis Sailboat Show. He told me that his agency’s assumption (needed in the case of a possible repossession) was that a financed sailboat depreciated from its new price, to scrap value—near zero—in a straight line over ten years. Thus most used sailboats for sale now are selling at or below their scrap value. Since fiberglass is difficult to separate from the other materials like the keel, which if of lead has some residual monetary value, most used sailboats today are worth what the lead is worth, minus the cost of separating if from the hull. There is really no way to recycle the fiberglass. This is why a short drive from your home you will see many old fiberglass “yachts” in peoples’ backyards with “for sale” signs on them, that will in truth never see the water again.

2. MAINTENANCE. All material objects require maintenance. A washing machine or dryer or refrigerator don’t require much, an automobile quite a lot, but a sailboat—being immersed in a corrosive element and exposed to the summer sun—requires more maintenance than virtually any other man-made object. While it is true that one could at enormous expense maintain a sailboat in close to new condition, doing so would cost, for a more than ten year old sailboat, more each year than the product is worth. It’s one thing to spend $20,000 a year to maintain a brand new 35-foot sailboat that cost $250,000 at the latest boat show years ago. It’s quite another to spend $20,000 a year to maintain a ten year old sailboat that you bought for $25,000 or less. And in actual fact newer things require less maintenance than older things. So let me re-phrase that sentence. It’s one thing to spend $10,000 a year on a brand new 35-foot sailboat that cost $250,000 at the latest boat show. It’s quite another to spend $25,000 a year on a ten year old sailboat worth $25,000.

3. COSTS VERSUS INFLATION. Fifty years ago a boatyard worker might have earned $4.00 per hour and a boatyard’s entirely reasonable fee might have been $10 per hour to account for its investment in land, buildings, insurance, and employment costs… Social Security and Medicare matching, paid holidays and vacations, sick days, etc. Today a boatyard worker earns $20 to $40 per hour and sailboat construction or maintenance costs over $100 per hour south of Boston, $75 per hour up here in Maine.

4. MAINTENANCE COST VERSUS SIZE. A brand new, smallish yacht requires very little maintenance. A coat of varnish on the brightwork, a yearly coat of bottom paint. And rent of a small patch of covered winter storage space. For a 15 to 18 footer, maybe $2500 per year. Of course if you are handy and have a garage there is no storage fee, and a can of varnish and bottom paint might cost you $200. The winter work list on a 35-footer can stretch into hundreds of manhours per season. In a city that might mean 100 manhours = $10,000. For an older 35-footer, whose work list expands with age, $10,000 to $25,000 per year. One way or the other you pay – very little for an old 35-footer at first, but a whole lot every year thereafter; A lot of money upfront for a new 15-footer, and virtually no money every year for a decade afterwards.

3. IN THE WATER FEES. A big sailboat will most likely be kept at a marina slip. $5000 per summer, maybe. A small sailboat can be kept on its trailer in the garage and launched when needed, or on a mooring or if you are lucky, or alongside your waterfront float, at little to no cost.

4. TIME REQUIRED TO GO FOR A SAIL. Big or small, when the whim overtakes you to go for an afternoon sail, the time to drive to the marina or yacht club, and perhaps take the launch out to your boat, is the same. But once you get aboard it takes a few seconds to hoist a small boat’s sails, and maybe a quarter to half an hour to get going in your 35-footer. This latter disincentive is one reason you see so many big white boats sitting unused in marinas on sunny summer weekends, and so many small sailboats actually out sailing.

5. SINGLEHANDING. Most larger boats can only be used if you can find crew. Most small boats can be easily singlehanded. The law of supply and demand means prices of boats that can be singlehanded will be higher than those that cannot be. (Small boat prices have morphed higher as large boat prices have plummeted).

6. CONSUMER PRODUCTS VERSUS WORK OF ART. Factory produced “yachts” were nothing more than very large consumer products. They call washers and dryers and refrigerators, “white goods”, and mass-produced sailboats were nothing more than very large and expensive white goods. They’re even – most of them – white in color. The few small sailboats available new on the market today are invariable hand-built works of art, produced by skilled artisans and often trimmed out in rare tropical hardwoods and even in some cases sporting masts and booms of varnished spruce or incredibly strong and light carbon fiber. Consumer goods always depreciate in value; works of art tend to appreciate in value.

7. ENVIRONMENTAL CONCERNS. Most people who enjoy outdoor sports these days are also supporters of an ever cleaner environment. Meaning they are against open layup fiberglass production with its degradation of the upper atmosphere and the lungs of its workers. They know that the byproducts of epoxy resin are less harmful than those of polyester resin. They know that wood is an environmentally superior construction material to glass and resin. They know that small toys (yachts are playthings… toys) are less environmentally destructive in their fabrication than are large toys.

8. MATERIAL COST INFLATION. For the decade 2010 to 2020 at least there had been little inflation, until the advent of Covid. But that has now abruptly changed. Our central bankers have responded to a pandemic by throwing care to the winds and “creating” lots of fake money. The result has been the same as it has always been. Double the supply of money, and after a year the price of everything will have doubled, and nobody will be any better off despite the good intentions. Our central bankers have “printed” approximately 30% more money, in an attempt to soften the blow of “shit happening”. But fact is, you can’t. In fact inflating the currency always creates a worse situation than maintaining a stable currency and letting things adjust automatically. So inflation is back.

9. RECYCLING UNWANTED “YACHTS”. It is difficult and costly to dump or recycle scrap yachts. In fact if we are to get rid of all the unwanted production “yachts” sitting in backyards new ways will have to be found to separate the fiberglass from the metals, and someone—presumably the last owner—will have to be forced to pay for it. Which is why so many old former yachts are “for sale” on Craigslist. Putting a price on the thing, although a cheap price, might fool someone into thinking it is an asset rather than a costly liability.  Someone will ultimately have to pay to have the thing hauled away and recycled.

10. CHARTERING. Time was when the only way to see some of the magical places in the world—the Caribbean, Seychelles, Tahiti, Croatia, Bora Bora—was to buy a yacht, learn celestial navigation, find a way to spend months or years without working (rob a bank or inherit lots of money), and fight down seasickness as you thrash your way day after day down to the tropics. You had no alternative than to pay a lot of money for a proper, big, offshore sailing yacht. Then someone invented chartering. You covered the miles by the thousands in a comfortable seat near the front of a marvelous aluminum contraption sipping cocktails at 580 miles per hour. Then took command of a larger and newer yacht than you could ever afford to own, and after a week of fun in the sun gave it back to the charter company to fix all the things that went wrong. What wrecked the idea of the personally owned large yacht more than any other factor, leaving only the more sensible day-sailing yachts viable for personal ownership, was chartering.

11. IS SAILING DEAD? The good news is, no it is not, far from it. It is true that many exciting and far cheaper sports have been invented that compete with sailing and appeal to the handsome young buck bursting with testosterone and his female counterpart. Windsurfing, ocean kayaking, kitesailing, standup paddleboarding, the list goes on and on. But the challenge of making a vehicle move silently and at no environmental cost through the water using nothing but the power of nature itself, even contrary to the very direction of the wind, will always be fascinating. And the closer you can get to the interface between land and sea—the waterfront—for which wealthy folks now must now pay millions of dollars—the better, and you do so at absolutely no fee.

12. DO ALL SAILING YACHTS DEPRECIATE? No, thanks to the law of supply and demand. Antique yachts appreciate reliably in price, because the supply decreases with time while the demand increases. Old wooden yachts disappear from the market, because many of them are not properly maintained. But the remaining ones gain in value. As an example an authentic Herreshoff 12½ sold new in 1937 for $750. I just sold my 83 years old (it, not me) Herreshoff for $29,500…  today’s average selling price (not asking price) for an authentic 12½ in good condition. No investment I ever made… stocks, bonds, real estate, annuities.. has come close to appreciating so much in value.

THE EXCEPTION TO THIS RULE:

The few fiberglass yachts that were built in low volume, custom production to exceptionally high standards, retain good value if properly maintained. These are the Morris Yachts, Hinckleys, Aldens, Cambrias, and many of the custom designed and built yachts from the famous yards, usually of welded aluminum. These yachts cost, when built, at least triple the cost of a Morgan, Catalina, or Irwin. But the payback is that today they have retained ten times the value of the high volume nautical “white goods”and that value is going up. not down, thanks to inflation..

13. WHAT MAKES SENSE TO OWN TODAY? First of all, forget the money. Own what you think will most enhance your leisure life. Although you might always keep in the background the fact that retention of value is not at all a bad thing. Own a yacht that you will actually use, and enjoy its use. If there is a racing class that is popular where you like to sail, and you enjoy racing, your choice is easy. There is safety in numbers— the simple fact that a race committee raises a flag for that class every Saturday vastly reduces its rate of depreciation. Realize that yachts that were built to high standards at multiples of the “production yacht” price retain a high proportion of their original cost. Examples are the Morris Yachts, Aldens, Hinckleys, Alerion Express 2 8 s, Center Harbor 25s and my own recent designs the Pisces 21, York 18 and Levant 15, whose superiority and value for money are reflected in the long waiting times currently required to achieve delivery or short times on the brokerage market. Likewise the Doughdish and Cape Cod Shipbuilding 12½s and Marshall catboats if ultra-shoal draft is an issue for you, and authentic Herreshoff Manufacturing Company 12½s and Beetlecats if you can afford the formidable yearly costs of maintaining a wooden boat. Seek out the small yachts that are easily gotten going and put away, inexpensive to maintain, and can get you close to that million-dollar shoreline. Or if your dream is to head offshore, jump on any Morris or Hinckley or Alden that pops up on the brokerage market – they tend to be snatched up in a week.

SEPTEMBER 2023 UPDATE.

Interesting to re-read this three years later. Some corrections are needed!

When originally written, inflation in the general economy was hovering about 1.5% year on year. Inflation in the yacht building field was much higher- around 5%.

For various reasons inflation has reared its ugly head with a vengeance. This has caused a revision to my above comments to be necessary.

Much that has been said above still applies, to MASS-PRODUCTION yachts. They are still consumer products at the end of their usable life and therefore of little to no value.

However, it does not apply to the few very high quality designs built to last at least 100 years by Tom Morris and a few other custom-quality, low volume builders.

It has come to my attention over the last three years that virtually none of my designs remain on the brokerage market. In 2020 one would see at least 10 Chuck Paine designs on YachtWorld and a few more on other brokerage sites. When one pops up today it is immediately bought, at higher prices than were the case in 2020. It is clear to me that people who wish to retain their savings are buying good quality used yachts as hedges against inflation, not just for recreational use.

There is also “scarcity value” to anything that is both intrinsically desirable, and rare. The alternative to buying, for instance, a 30- year old used Frances 26 on the brokerage market for between $70,000 and $30,000 depending upon its condition, is to build a new one at today’s prices, which would cost $550.000. At that latter figure climbs, the prices for good condition used models does also.

I believe that the recovery in used yacht prices is forced by the current high level of inflation. Our government has chosen as governments sadly often do, to devalue the currency (inflate). So everything- including used yachts- is being bought with a new, lower value currency.  And remember- yacht construction inflation is between two and three times general inflation and has been for many years.  So while the general inflation level has jumped from 1.5% to 6 to 8%,  yacht inflation has jumped from 5% to something more like 20% yearly.  For at least as long as central bankers lack the spine to bring inflation under control, expect used Chuck Paine designed yacht prices (and equivalent quality yachts from other designers) to climb at significant rates.

I hope this is helpful.

Chuck Paine

Boat Price Trends

• On August 15, 2023
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The boating industry saw unprecedented growth during the COVID-19 pandemic as people sought outdoor recreational activities. This led to surging demand and rising prices for new and used boats from 2020-2022. As we move into 2023, many boat buyers wonder – will boat prices go down in 2023 or continue to rise?

Factors Impacting Boat Prices

Our forecast for 2023-2024, new boat price trends, used boat price trends, the outlook for 2024 and beyond, our final thoughts.

Several key factors will determine when or if the boat market will crash or remain high in 2023 and 2024:

• Supply Chain Issues  – Shortages of materials like fiberglass along with labor shortages have constrained production. As supply chain problems persist, boat prices will stay elevated.
• High Inflation  – With inflation at 40-year highs, the rising costs of materials, labor, transport will keep upward pressure on boat prices.
• Interest Rates  – Higher interest rates make financing more expensive, potentially dampening demand and prices.
• Consumer Demand  – Demand soared during COVID but may moderate with economic uncertainty. Still, new boat buyers entering the market could sustain demand.
• Price of Oil  – As a key component in fiberglass, rising oil prices directly impact boat production costs and prices.

Further reading that’s worth your time: The Best Place To Buy A Used Boat .

Boat Type	2022 Price Change	2023 Forecast	2024 Outlook
New Boats	+10%	+2-5%	Remain elevated
Used Boats	+5-10%	+5-10%	Plateau at high levels

Due to the above factors, most industry experts predict new boat prices will remain high rather than decrease in 2023 and 2024. Some key new boat price trends:

• New boat prices increased 10% on average in 2022 and are forecast to rise another 2-5% in 2023.
• Popular brands and models may have waitlists extending into 2024, sustaining high prices.
• As supply chain issues ease, price growth may moderate but overall remain elevated over pre-pandemic levels.

Used boat prices are also expected to remain relatively high in 2023 and potentially 2024:

• Limited inventory has driven intense demand in the used boat market since 2020.
• This shortage of used boat inventory will persist, creating upward price pressure.
• Well-maintained used boats can sell for 50-80% of their original retail price depending on age.
• For context, a 5 year old 25-foot center console that originally sold for $100K can fetch $60-80K on the used market.

In 2024 and beyond, broader economic conditions will determine if boat prices moderate. But key factors suggest prices will remain strong:

• Pent-up demand from the pandemic has introduced many new buyers to boating who will remain in the market.
• Florida’s continuously growing population increases local demand for boats.
• Boating interest continues to grow nationally, bringing new entrants.

Barring an economic downturn, which is still in the forecast for many economists, boat prices are likely to plateau at elevated levels rather than return to pre-pandemic pricing. Savvy buyers should watch for potential sales and incentives during boat shows and end-of-season clearances to get the best deals.

But overall, boat prices will remain high compared to historical levels for the remainder of 2023.

You might also be interested in reading:

The Top 3 Boat History Report Websites Reviewed

Yacht vs Catamaran: Which Boat is Right for You?

The Top 10 Best Boat Brands

Best Place to Buy a Boat

Parts of A Boat Explained

Steve Momot

Steve is an accomplished professional photographer and marketer who specializes in the Fishing, Yacht, and Boating industry. With a strong presence as an influencer and marketing expert in the Marine Industry, he has made a significant impact in the field. Additionally, Steve is the original creator and co-founder of Sportfishtrader. Prior to his career as a marine photographer, he gained extensive experience as a licensed boat and car dealer in South Florida.

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Boat Prices in 2023: Analysis of the Market for Buyers and Sellers

Are you considering buying or selling a boat in 2023? This article will explore the market for boats in 2023, the boat prices, trends, factors affecting prices, and the best time to buy or sell a boat. Whether you’re thinking of buying or selling, take the time to understand what’s happening in the marketplace.

Table of Contents

Background to today’s boat market – the covid years.

The boating industry has witnessed significant changes in supply and demand over the past couple of years due to the CoViD pandemic. With the onset of the pandemic, many boat manufacturers faced disruptions in their production and supply chains, resulting in limited availability of new boats. This scarcity drove up prices and created a seller’s market with high demand and a low inventory of new vessels. 

A Need to Spend Leisure Time in a Safer Environment

With travel restrictions and social distancing measures in place, many individuals turned to boating as a way to safely enjoy outdoor activities and leisure time, seeking local and regional boating experiences. 

Smaller, more versatile boats suitable for day trips or weekend getaways became increasingly popular.

The Desire for More Space and a Change of Scene

The pandemic also brought about a desire for more space and a change of scenery, having been cooped up at home for weeks on end. Many people reevaluated their living situations and realised the benefits of living on the water, away from crowded urban areas. Liveaboard vessels provide an opportunity to have a cozy and self-contained living space while enjoying the tranquility of the water. 

A Shift in Remote Working

The shift in people’s ability to work from home due to the COVID-19 pandemic affected the demand for liveaboard vessels. With remote work becoming more prevalent, many individuals have sought alternative lifestyles that offer more flexibility and the ability to work from anywhere, anywhere in the world in fact! This shift in work dynamics sparked increased interest in boats designed for full-time living.

The ability to work remotely opened up opportunities for individuals to live on a boat while maintaining their professional commitments. This led to a surge in demand for liveaboard vessels.

The YouTube Effect

During the pandemic, there was a significant increase in the popularity of YouTube sailing channels. Many turned to online platforms for entertainment and inspiration as people spent more time at home. YouTube sailing channels such as Brian Paulson with SVDelos, featuring individuals or families documenting their liveaboard experiences, gained a substantial following. Viewers were captivated by the unique lifestyle, breathtaking scenery, and sense of freedom.

The impact of binge-watching YouTube sailing channels on the demand for liveaboard boats can be observed in several ways. First, the exposure to these channels sparked growing interest and curiosity among viewers about the possibility of living on a boat and embarking on their own sailing adventures. The videos provided inspiration and education to those who might not otherwise have considered it, providing insights into the liveaboard lifestyle, sailing techniques, and the joys of exploring different coastal areas.

The popularity of YouTube sailing channels also created a sense of community and connection among viewers. Comment sections and social media platforms associated with these channels became spaces for like-minded individuals to share their aspirations, seek advice, and engage in discussions. This sense of community further fueled the interest in liveaboard boats, as people found support and encouragement from others who shared their passion for the liveaboard lifestyle.

As a result, the increased viewership of YouTube sailing channels contributed to a surge in demand for liveaboard boats. Many individuals who were drawn to the idea of living on the water and experiencing the freedom of sailing were motivated to pursue their dreams. They saw the potential for a fulfilling and adventurous lifestyle showcased in these videos, leading to an increased desire to own their liveaboard vessel and embark on their own sailing journeys.

These effects can be seen clearly in the trend for searching “Boat for Sale” on Google over the past few years:

The CoViD Effect on Used Boat Prices

This surge in demand for both small day boats and larger liveaboard vessels, and the constricted production of new boats, led to a shortage in the pre-owned market, and as a result, prices for used boats escalated. If you were a boat seller, this presented a favourable environment to achieve a higher price for your vessel. However, as a buyer, you needed to be patient and willing to invest time to find the right used boat at a reasonable price, as the selection was limited and competition among buyers fierce.

Boats Group carried our a comprehensive market analysis for 2022:

Factors Affecting the Market in 2023

Ongoing impact of the pandemic on new and used boat supply and demand.

We continue to see the impact of CoViD going into 2023; the pandemic motivated many people to change their lifestyle, and while some were able to make a quick and radical change due to their financial or personal circumstances, for others, it became part of a five or ten-year plan.  Some of those that made the change to a liveaboard lifestyle in 2020 are coming to the end of their liveaboard goals, returning to a less nomadic lifestyle and putting their kids back into the school system.

And with people back to a more normal working routine and less time to spend outdoors, pandemic purchases spend more time in the boatshed or on the dock.  This results in an increase in new listings to the boat market in 2023 .

The state of catch-up experienced in many boat building yards in 2021-2 as they ramped up again post CoViD to fulfill orders for new boats placed before the lockdowns have eased, and manufacturing schedules are normalising. 

The Supply vs. Demand Gap

The supply versus demand gap in the boat market depends on various factors, including the type of boat, geographical location, and prevailing market conditions. It’s important to note that the boat market’s supply and demand dynamics fluctuate and differ between new and used boats.

Although the demand-supply gap for new and used boats is felt to have been at its greatest in mid-2021, the volume of boat registrations in the USA remains strong compared with pre-pandemic levels.  

With many primary boat shows reprising their activity for the first time in three years in 2023, boat builders have reported high order levels for new boats placed at Boat Shows in Europe and the USA in 2023 so far, and the Global Order Book for superyacht builds is at a higher level than any pre-CoViD year .

Brokers for second-hand vessels, however, are reporting that sales in the first quarter of 2023 are significantly down compared with the same period in 2022 .  Inventory levels are twice as high as the previous year, boats are staying on the market longer, and more price reductions are being made to make the sale.

Innovations in Design and Technology

In recent years, there have been notable design and energy innovation trends in new boats as the industry strives to incorporate more sustainable and efficient technologies. These trends are driven by a combination of environmental concerns, evolving consumer preferences, and advancements in technology. Key areas of focus include:

• Sustainable Materials

Boat manufacturers are increasingly exploring the use of sustainable materials in boat construction. This includes incorporating recycled and eco-friendly materials, such as recycled plastics, reclaimed wood, and bio-based composites. The goal is to reduce the environmental impact of boat production and improve the overall sustainability of vessels.

• Electric and Hybrid Propulsion

Energy innovation in the boating industry has seen a rise in electric and hybrid propulsion systems. Electric boats powered by lithium batteries have gained popularity due to their zero-emission operation, quietness, and ease of maintenance. Hybrid systems combine electric motors with traditional combustion engines to recharge the batteries, offering increased efficiency and reduced fuel consumption.

• Efficient Hull Designs

Boat designers continue to focus on creating hull designs that optimise fuel efficiency and performance. This involves features such as hydrodynamic shapes, improved weight distribution, and reduced drag. By minimising resistance in the water, boats can achieve higher speeds and lower fuel consumption.

• Solar Power Integration

Solar panels are being integrated into boat designs to harness renewable energy and reduce reliance on conventional power sources. Solar panels can help power onboard systems, such as lighting, electronics, and battery charging, thereby extending battery life and reducing the need for fuel or shore power.

• Smart and Connected Features

New boats increasingly incorporate features that enhance the boating experience using data and connectivity. This includes advanced navigation systems, digital displays, remote monitoring capabilities, and connectivity options for seamless integration with mobile devices. 

These innovations offer boat owners a range of benefits , including:

• Near silent cruising
• The ability to live on board for more extended periods “off-grid”
• Reduced operating costs
• Zero emissions at low boat speeds
• Responsible boating in sensitive areas

It’s interesting to see that many of the CoViD liveaboards were quick to install large lithium-ion battery banks and solar charging as soon as possible on their new vessels, ripping out propane gas systems and installing induction cooktops and household refrigerators.  Boats coming to the second-hand market without these home-from-home features are disadvantaged.

Consumer Confidence, Inflation, and Affordable Boating

Despite the slowdown in boat sales, industry analysts continue to mark the rise in participants in the boating industry , indicating that interest in water-based leisure time activities remains high.  However, with higher interest rates from the post-pandemic economic downturn, consumers find it tougher to agree on financing deals on new and used boats . They are turning instead to boat rental and other options.

Social media platforms have facilitated the rise of peer-to-peer sharing networks specific to boating. Platforms such as Boatsetter and GetMyBoat allow boat owners to rent their vessels to individuals looking for a boating experience. 

Boat clubs and groups on platforms like Facebook and Instagram have provided a platform for individuals to organize shared outings, where the costs are divided among participants. Websites such as Crewseekers facilitate matching between boat owners and prospective crew.

These sharing economy models enable boating enthusiasts to access boats without the need for ownership, reducing the costs associated with purchasing and maintaining a boat.  As these peer-to-peer platforms gain popularity , the demand for buying a new or second-hand vessel decreases.

Oil Price Fluctuations

Oil is a crucial component in the production of boats, particularly in manufacturing fiberglass hulls, resins, and other petroleum-based materials. Fluctuations in oil prices impact the cost of raw materials, transportation, and energy used in the manufacturing process. When oil prices rise, the manufacturing costs for boats increase, which is reflected in higher prices for new boats.

Oil prices directly affect the cost of fuel, which is a significant operational expense for boat owners. Higher fuel costs influence the affordability and operating costs of boats, which may indirectly impact boat demand as owners consider the long-term expenses associated with boat ownership.

Disruptions to the Supply Chain

High fuel prices and global container transportation issues linked to the war in Ukraine continue to influence the market and such disruptions can have a significant impact on boat prices. When disruptions occur, such as delays or shortages in raw materials and components, it leads to increased production costs and limited availability. Manufacturers may pass on these increased costs to consumers, resulting in higher boat prices. Additionally, delays in delivery and market uncertainty can further affect pricing dynamics. Buyers may become more cautious, reducing demand and potentially putting downward pressure on prices.

Rising Personnel Costs

It seems like the number of vacancies in the boating industry increases every week, and a walk along the boulevards of Fort Lauderdale reveals a sea of announcements staked along the sidewalks.  A deficit of trained and experienced workers continues to drive up marine industry personnel costs, which are passed down to both new and used boat prices.

New Boat Prices in 2023

Faced with continuing recruitment issues, high fuel and materials prices, and ongoing disruptions in the supply chain stemming from the pandemic and the subsequent war in Ukraine, boat manufacturers remain at lower capacity than pre-CoViD times.  Demand is high, in comparison, as customers have waited to place orders due to the uncertainties of CoViD, and the waiting lists for new build vessels can be as much as three years.

Buyers should expect the prices for a new boat to remain as they are for now.  Keen parties should put their name down with their local brand dealer to hear of boats that leave the production line where the buyer has dropped out.

Used Boat Prices in 2023

The bubble for used boat prices seen in 2020-21 has well and truly burst!  Brokers and dealers indicate a significant increase in inventory, a longer time to sell, and the need for more and greater discounting to achieve a sale.

With the end of CoViD restrictions and a return to a more normal way of living, there is less incentive to make drastic lifestyle changes.  Pandemic purchases come back on the market as people return to their pre-CoViD habits.  Consumer confidence remains uncertain as oil prices and interest rates have climbed, and the upturn in more affordable boating options will ultimately impact the demand for boat ownership.

Used boat sellers in 2023 should be aware of the increasingly competitive market and the increased interest in eco-friendly design features and energy efficiency; be prepared to lower your price expectations; things are quite different from where they were in 2021 or even 2022! 

Buyers should be patient and take time to explore options as prices for used boats continue to become more negotiable and the choice of vessels much more extensive than in recent years.

Where to Find Boat Prices Online

There are several online platforms where you can check boat prices specific to the model you’re interested in. Here are a few popular websites that provide resources for checking boat prices:

Boat Trader is a comprehensive online marketplace for buying and selling boats. It offers a wide range of listings and allows you to filter by boat type, location, price range, and other criteria to find boats that match your preferences. Boat Trader provides pricing information for both new and used boats, allowing you to compare prices and explore different options.

YachtWorld is a leading platform for new and used boat sales, specializing in larger vessels and luxury yachts. It offers a vast selection of listings from brokers and dealers worldwide. YachtWorld provides detailed information about each boat, including specifications, pricing, and contact details for sellers or brokers.

NADAguides (JD Power) is a trusted online resource for pricing information across various industries, including boats. It offers comprehensive boat pricing data based on year, make, model, condition, and optional features. NADAguides provides both retail and wholesale pricing, allowing you to get a sense of the market value for different boats.

BUCValu is a widely used platform for appraisals and pricing information for boats. It offers a comprehensive database of boat values based on different factors such as year, make, model, and condition. BUCValu provides detailed reports with estimated values, market trends, and historical data to help you assess boat prices accurately.

Remember that while these websites can provide valuable insights into boat prices, prices can vary depending on various factors such as location, condition, equipment, and the market demand explored here. 

Best Time to Buy and Sell a Boat in 2023

Ideal selling period (february to june).

If you want to sell your boat , February and June are generally considered the best time. Many potential buyers are looking for boats to enjoy the upcoming boating season. The warmer weather and longer days create a sense of excitement and anticipation, leading to increased demand. By listing your boat for sale during this period, you can attract more potential buyers and fetch a higher price.

Favourable buying period (September to October)

On the other hand, if you are in the market to buy a boat , September to October is a favorable time. As the boating season comes to an end, sellers may be more motivated to close deals before winter arrives. This can create opportunities for buyers to negotiate better prices or find boats that have been on the market for a while. Additionally, boat dealerships and manufacturers often offer end-of-season discounts and promotions, making it an ideal time to purchase.

In 2023, new boat prices are unlikely to decrease significantly due to the ongoing market dynamics. However, you can expect those for used boats to drop.  Staying informed about the boat market, factors influencing prices, and the ideal buying and selling periods allows you to make confident decisions that align with your budget and preferences. To explore the current boat prices and listings, visit our website and embark on your boating journey today.

Is 2023 a good year to buy a boat?

If you are considering buying a boat, 2023 is a year worth considering. Despite the challenges posed by the pandemic, the boat market has shown resilience and continues to thrive. The demand for boats remains high, and while prices may be lower than in previous years, there are still opportunities to find a boat that suits your needs and budget. It’s essential to carefully research and compare prices and consider factors such as boat condition, model, and features.

Are new boats more expensive than used boats?

In general, new boats tend to be more expensive than used boats. This is because new boats come with the latest technologies, features, and warranties, contributing to higher price tags. Additionally, the demand for new boats often exceeds the supply, which can drive up their prices. On the other hand, used boats offer a more cost-effective option for buyers. They have already experienced some depreciation, making them more affordable. However, when purchasing a used boat, it’s important to consider factors such as the boat’s condition, maintenance history, and any necessary repairs or upgrades.

ABOUT THE AUTHOR

Sam Bartlett is an IIMS Surveyor, a Commercial Skipper of sailing boats, and a boat owner for over 30 years. She lives in St Martin in the Caribbean and provides yacht surveys, skippering and marine consultancy throughout the Caribbean.

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• Nov 2, 2022

2023 Forecast- When is the Best Time to Buy a Boat?

An update on today's complex boating industry

The immediate future of the boating industry in North America is not easy to predict. However, past performances and present economics can give us some reasonably accurate predictions. The inflation that we have witnessed over the past 20 months is a direct result of excess money chasing a limited supply of goods and services. Recent efforts to put on the economic brakes by raising interest rates, has left both the industry and boaters themselves in rough seas. In an annual report, Frank Hugelmeyer, president of the North American Marine Manufactures Association recently said: "While overall new powerboat sales decreased 11 percent compared to January through July in pre-pandemic 2019, several categories continue to outpace pre-pandemic YTD sales levels."

Does this mean that 2023 will be a good year to buy a new boat ? Perhaps understanding some of the current data on boaters and trends will help us understand the psyche of the marine business and thereby help us answer that question. Reports this month from Coast Guard and NMMA reveal some interesting data:

Wholesale shipments of new powerboats through July 2022 decreased 6% over the previous year.

Used boat sales are outpacing new boat sales by 2-to-1.

Over 400,000 first-time boat buyers entered the market in 2021.

An estimated 110 million North Americans go boating each year.

61% of boaters have an annual household income of less than $75,000.

Boaters come from all ages, walks of life, and areas of the country.

95% of boats sold in North America are American made.

95% of boats in the U.S. are less than 26 feet and trailerable.

Comparing unit to dollar sales for 2021 tells us prices were up considerably. This is a direct result of increased demand due to the 6% reduction in new wholesale powerboat shipments, that resulted from production material shortages.

Wholesale shipments of outboard engines increased 6 percent year over year. In addition to the outboards sold with new boats, this increase would be due to a combination of repowering existing boats and powering new units with multiple engines.

Most recreational boaters that I talk to are confused as to when and where they should look for a new boat. Over the past three years, we have seen some sharp increases in most new boat prices. The major contributing factor to this trend has been a reduction in new boats available, due to shipping delays and shortages of boat construction materials. While there are still some delays in the materials supply chain, it seems that much of this problem has been resolved. Boat buyers today and over the next two years are more concerned with the overall economic effects of inflation in North America and the growing possibility of a recession. For me to explain how I believe this will affect boat sales, I will describe what will happen and when. We have all been impacted by the recent reduction in our purchasing power, which is the definition of "inflation". We have to pay higher prices for the same product. A good example is having to pay $15 for a haircut that used to cost $10, back when you had more hair. People's reaction to this inflation, is to get a haircut less frequently. As business drops, one of the barbers gets laid off. If you are the barber that got laid off, or any other worker in the same situation, your reduced household income will make it a difficult time to purchase a high ticket recreational item, such as a boat. This leads to a spiraling decline in economic activity, which is the definition of "recession".

To predict how a recession will affect the boating industry, it is important to first understand that recessions do not affect all purchases the same way. Buying a boat is not like buying restaurant meals. You can pass on going out to a restaurant to eat and still have food by eating at home, but you can't go boating without a boat. And whether you boat for sport, cruising or fishing, most boaters find it addictive. I mean, you've spent all those years learning 'port' from 'starboard' and you want to put those skills to good use.

Answering the question, "Will next year be a good year to buy a boat?', I will first look at the used boat market . Well, that barber that lost his job and all of his buddies that a recession has placed in the same situation, may not be able to afford the upkeep of their boat. More than likely, many people finding themselves in this situation will find it a good time to sell. So the recession will increase the availability of used boats. With more boats on the used market, prices will have to be competitive. Bottom line -- if you have some discretionary savings and have been thinking of buying a boat with some hours on it, next year should present a strong opportunity.

So what can we predict about new boat sales next year? If you consider that manufacturers were handicapped last year by material supply shortages, Covid-19, and growing inflation, it is understandable that builders will be anxious to get their production numbers back to pre-pandemic levels to prevent factory shut downs, and at the same time, produce enough boats to increase their market share. To do this, they will need to offer value pricing packages to their dealers and, at the same time, encourage their dealers to offer some tantalizing deals to their retail customers. Boats on a "floor plan" will also provide some great buy opportunities. These are boats that the manufacturer has sold to dealers with financing provided for a specified time. Dealers with financed boats in their inventory will obviously want to sell them before their financing term expires and they are required to pay for them. This pressure for dealers to sell will ensure that dealers will offer good pricing to their prospective customers.

The trick for you to catching such a new boat deal will be to watch for them. There are lots of great resources that can help you on your new boat search. Tell your local dealer what type of boat you are considering and pay close attention to special offers and advertisements. A smart first step in buying any boat is to establish your own personal budget based upon your family's economic situation. A reduced budget may require passing on your desire for a "Supremo 30" with quad outboards, but if you watch closely for a boat deal that meets your budget, you should be able to find a fair price on a new boat that truly satisfies you. Whether you are interested in new or used, there will be some good deals in 2023 -- as long as you look for them. #tips

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I don't know about the best time to buy, but any year is good for selling, especially since my boat has already sailed for me, so I can sell with peace of mind. Moreover, using the prompts for amazon sellers , I will be able to sell it much faster and buy a new one in 2024, so I can upgrade for the next six or seven years. What else can I add is that you have a very cool blog, interesting topics for reflection, not just boats, but real pressing and lively topics, for which you have great respect.

People who want to boat but cannot afford to buy one will end up renting. Its actually way less expensive to rent than own. I read a report from the NMMA that boat sales are down 18% from a year ago and dealers are finally getting stock boats to sell as manufactures get caught up. Some of the dealers I spoke with in the PNW are using the early 2023 boat shows as a gauge on where the boating market is headed and will start cancelling build slots if things do not go well. I have been closely monitoring Boat Trader, Yacht world and others to monitor inventory levels. Boat Trader has over 99,000 boats listed for sale up fro…

Looking at available boats today, both new and used, it still feels like sellers are not in touch with reality. It will take another 6 or so months for people to realize the market has shifted and boats won’t fetch what they once did. That’s a bubble I’m hoping will pop in a big way.

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2023 2nd hand Boat Index & market status

We walk you through the creation of our Marine-Review Used Boat Index and the current state of the 2 nd  hand boat markets. 20% more boats for sale now than same time last year.

The reason for our “Index”

About one year ago, in august, we started to notice cracks in the 2 nd  hand boat market after 3-4 years of explosive growth. Some people agreed – others said our opinion was completely wrong and we are (insert your own long list of synonyms for stupid). 2 nd  hand boat brokers especially came with the harshest of words. 

But the pointers were there. Marinas I talked to in late ’22 said they had less enquiries. New boats were still in high demand. 2 nd  hand boats sold – but in our opinion they got price decreases put on quicker – and did not sell at the previous quite so inflated values during covid.

We thought long and hard about how to prove the market was narrowing? We are strong believers of supply and demand determines 2 nd  hand boat prices. So, if supply (the number of boats for sale) increases – demand have decreased. When demand decrease, the  prices will go down .

The building of the index

We set out to collect data on the number of boats for sale on a lot of the popular websites. We do it  by hand for the sites that “exclude” robots from reading data – and by advanced robots on websites that allow it. We already have robots for other high value items, used for investment sentiment calculations. So apart from the extra work with the few sites that don’t allow robots – it is fully automated. We track a LOT more individual data than what we are publishing today. 

The index was calibrated to 100 on September 11 th , 2022. So, if we call out an index 110 – it is 10% more than it was in September ’22. It works pretty much like a stock index to make it simple to understand. 

We don’t assign weight to any number in the index or skew the numbers in other ways. The ONLY way we slightly modify the index is when sites change the way they count their own listings. 

One website does not seem to be able to figure out how to add up the boats in their listings. Their total amount counters drop or increase, sometimes, with crazy amounts. And then a week later they revert. 

Our system identifies those ups and down’s and if too crazy – we equalize the numbers. If the rest of the data collected from all other sites don’t show the same change, we know it was a web-developer on a mission, causing the noise.

The current 2 nd  hand market Index

The number of 2 nd  hand boats for sale vs same time last year – have grown by an average across all markets of 20% The result is we are already  a lot above  the peak number of boats for sale during last season. 

If the trend continues like last year’s incremental increase – we will peak in mid-March 2024 with roughly 28-35% more boats for sale vs mid-March 2023. 

There are a multitude of reasons for the market change. We had an explosive increase in boat sales the last 3-4 years. Covid pulled a number on all of us – causing people to want “local holiday”. The “Anti-Fossil” fuel league helped it by promoting “Low CO2” travel, helping sailboats sales. 

But a lot of the new owners of boats had NO prior sailing experience or any boat maintenance experience. It is not cheap to own and maintain a boat. And new owners are starting to realise. 

Now add a crappy northern EU and US summer – and we find a lot of “disgruntled” boat owners waking up to the realisation that boating might not be for them. 

And to top it off – we have interest rates and inflation taking a good bite out of people spare cash for “toys”.

All in all a cauldron full of explosive reasons for boat prices stalling.

Our postulation is we are on our way into the opposite cycle – a complete implosion of the boat market vs the last 3 years of “explosive” sales. A lot will be “almost new” yachts – but watch out, as maintenance has most likely been “overlooked” by the inexperienced owners. 

The current 2 nd  hand boats cycle

In general, north-western part of the globe (US & Europe) dominates boat sales and adverts in actual numbers. 

Usually from “mid” summer (July) people start listing their boats for sale. There is a big inflow until about December where trends level off a bit but continue to climb slower until about mid-March. Then from mid-March until July – the 2 nd  hand boat availability declines as people start buying boats for the coming season. 

Those are the overall and very general statistics. There are exceptions. Some countries like Sweden – the 2 nd  hand boat market almost disappear during the winter months, as many boats are taken into big storage halls. That, plus cold weather, limit sales potential. The boat adverts from Sweden contracts to about 1/5 th  of “high” during the winter. But often wintertime is the season where the “expensive” and newer boats get listed. So don’t discount looking in Sweden.

Sailboat vs Motorboat 2nd hand market

A lot of brokers say sailboat owners are more financially cautious and careful than motorboat owners. And the statistics seem to prove them right.

The biggest growth in boats for sale until this summer – was motorboats. Availability of motorboats continued to increase all the way through March ’23 and levelled off at about index 112 vs September ’22 levels.  Sailboats on the other hand stabilised in October ’22 – and stayed around Index 104 “above” September ’22 levels all the way until early June ’23. 

But this year in June – so a month before the general “lift-off” in seasonal sales – sailboats started being put up for sale. The bad summer weather in the north and high interest rates have possibly kickstarted the sales cycle for sailboats. 

From early June until now – the number of sailboats for sale have grown from Index 104 (4%) to 115 (15%) – closing in on motorboats fast. The relative number of sailboats for sale is still growing faster per month than the number of motorboats. 

The “post-covid” general new boat market

To really track new boat sales – it is good to follow “public stock listed” companies and their earnings reports. While public companies can mis-represent the truth – eventually the truth catches up – so they rarely misrepresent – but often have “read between the lines” messages in their statements.

One of those listed companies is Beneteau Group. It is a huge conglomerate that includes many boat factories and brands including Jeanneau and of course Beneteau Yachts. 

Beneteau Group is still posting record sales even for first ½ of 2023. Part of the record sales is due to problems delivering boats in the periods before, as Covid impacted parts-supplies. The impact was the bookkeeping of the actual sales “moved” from 2022 to 2023. 

Reading between the lines – Beneteau Group is waving the “caution” flag going forward. And remember – all accounting disclosures from listed companies are looking BACK in time. Not forward!

Beneteau say Dealership “stock” is now back to pre-covid levels – and interest rates impacting dealers so reading between the lines – dealers are limiting their purchase of boats to have in “stock” going forward. And with stock levels back to “normal” pre-covid levels – boats are not flying off the forecourts any longer. 

Looking at the Beneteau listed share price – it has been dropping since June – despite the favourable accounts published. Today while finishing this – share-price is down by > 11%

UK and Brexit 2nd hand boat market

The UK market seems slightly more buoyant than the rest of the western markets. But cracks are starting to show there as well. 

Due to the UK no longer being part of the EU – the British no longer have “VAT” included access to the large EU boat market. For a UK resident person buying a Yacht from the EU – no matter if EU VAT is paid or not – require said resident to pay VAT  again  on import. That add 20% on top of any EU boat purchase. 

Apart from the VAT issue there can be some issues importing the boat as CE approval might have been put into question. But that might just have been “solved” so EU and UK will accept cross pond ‘Yacht certifications’ More on that later. 

In effect, due to Brexit, the overall UK Yacht availability have “shrunk” – so less inventory = higher prices or higher prices sustained for longer. But as we said – cracks are showing, and inventory is growing. 

But UK Brokers is crying out loud for more inventory. No inventory to sell equals no income. But a market crash is also income limiting.  

As the new boat sales have stalled quite a bit in the UK income there is down. Dealers often earn more on 2 nd  hand boat sales than they do on brand new sold boats. 

A few UK Yacht brokers have not figured out yet that the market is stalling – so they post Yachts for sale at “Mid-Covid” prices – some with prices 30-50% ABOVE current advertised pricing from other brokers. Bonkers! But pricing 30-50% above “competing” yachts means it is cheaper to PAY the UK VAT on import from EU.

But many of the UK Yacht brokers are now more realistic in their pricing.

But there are of course some boat buying fools around, who do not research the market, and pay 50% over market for an old banger. 

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Boat Price Forecast and Trends for 2023 - 2024

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The boating industry has experienced significant changes in recent years, with the COVID-19 pandemic fueling an unprecedented surge in demand. This article delves into the forecast for boat prices in 2024, considering various economic factors and market trends.

New Boat Price Trends

In 2022, new boat prices saw an average increase of 10%. Experts anticipate this trend to continue, with a projected rise of 2-5% in 2023. This increase is expected to sustain into 2024, with prices remaining higher than pre-pandemic levels. Factors contributing to this trend include:

• Supply Chain Issues : Shortages of materials like fiberglass and labor constraints have impacted production, keeping prices elevated.
• High Inflation : Inflation, at 40-year highs, affects the costs of materials, labor, and transport, exerting upward pressure on boat prices.
• Interest Rates : With higher interest rates, financing becomes more expensive, possibly influencing demand and prices.

(Source: Sportfishhub )

Used Boat Price Trends

The used boat market has been robust since 2020, driven by limited inventory. This trend is expected to plateau at high levels in 2024. Key insights include:

• Intense Demand : A shortage of used boat inventory has led to significant demand, pushing prices upward.
• Market Value Retention : Well-maintained used boats are selling for a high percentage of their original retail price.

Economic Factors Impacting Boat Prices

Boat pricing is closely tied to broader economic conditions:

• Oil Prices : As a key component in boat manufacturing, rising oil prices directly impact production costs.
• Inflation and Interest Rates : Higher inflation reduces consumer purchasing power, while increased interest rates make loans more expensive, potentially dampening demand.

(Source: BoatTEST )

Market Dynamics

The pandemic-induced demand for outdoor recreational activities has significantly influenced the boating market. Key aspects include:

• Surge in Demand : Many consumers turned to boating as a safe recreational activity during the pandemic.
• First-Time Buyers : A high number of new entrants to the boating market has helped sustain demand.

(Source: BoatBlurb )

Potential Recession Impact

A widely predicted recession could introduce new dynamics into the market:

• Reduction in Consumer Spending : Economic downturns typically lead to reduced spending on luxury items like boats.
• Used Boat Market : The recession could increase the availability of used boats, leading to more competitive pricing.

The forecast for boat prices in 2024 indicates a continuation of recent trends, with both new and used boat prices expected to remain high. This trend is driven by ongoing supply chain issues, economic factors such as inflation and interest rates, and sustained consumer demand. However, the potential impact of a recession could introduce new market dynamics, possibly affecting pricing trends.

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Will Boat Prices Go Down in 2023? – Boat Prices Trend

Written by Anthony Roberts / Fact checked by Jonathan Larson

Will boat prices go down in 2023? Though you may be disappointed with the answer, we’re going to be honest with our boating industry forecast: boat prices will most likely not drop in 2023, if not increase.

The aftermath of the pandemic has caused prices for mostly everything, not just boats, to increase rapidly in the past two years.

Let’s break down the underlying factors as to why boat prices so high and find out a solution for those who wish to own a new boat in 2023. Stay tuned!

Table of Contents

1. New boats

2. used boats, factors affecting boat prices trend, best time to buy and sell a boat, frequently asked questions, boat prices trend in 2023.

By the end of 2022, several concerns have been made regarding the sales of new boats as the lack of customer interest was reported.

When asked, 67% of the 96 dealers predicted that the new-boat retail sales would fall, whereas 21% reckon the opposite; the rest 12% suppose that the sales will level off.

Even if the demand goes down in 2023, shipyards will still fail to bring back the mass production capacities prior to the pandemic, which explains why the new boat price won’t drop in the near future.

Will new boat prices go back to normal soon? We don’t know that, but hopefully, with the global effort of overthrowing the dilemma of higher interest rates and inflation, the boat market slowing down is something worth looking forward to.

If you’re wondering whether used boat prices going up or down, here’s our used boat market forecast for 2023.

As expected, the unprecedented demand for used boats doesn’t seem to cool down in 2023. A used 20-foot fishing boat can cost up to $15,000; even though this is not a small amount, this price of used boats can still help you save up a considerable percentage compared with the initial cost of a new vessel.

The reason for this continuous surge of demand for used boats is the lack of accessibility to new boats due to COVID-19. This forced consumers to buy used boats instead, as they were the only options available.

Not to mention, some people bought boats during the pandemic and now wish to sell them as the trade is gradually opening again; additionally, some cannot afford the maintenance of the boats.

Will used boat prices go down? It appears that the used boat prices trend is forecasted to set a boom again in the upcoming year. As for 2022, the used boat sales outstripped new boats twofold.

Whether you plan to buy or sell a boat in 2023, it’s best to understand the underlying factors affecting the current boat price trends.

• The pandemic: Ever since the pandemic hit in 2019, the boat market has been flourishing as the demand for boats exceeded the supply provided.
• Supply chain: Massive supply chain disruption in 2020-2021 caused essential boating materials like aluminum and steel to become sparse. Even though the price of these components has started to stabilize, boat prices will still likely increase.
• Inflation: Inflation is an ongoing problem that, though stable in the last few months, perpetually impacts boat costs. It is said that manufacturers tend to lever out a 5-10% rate addition when making pricing decisions in 2022.
• Demand – supply gap: Though limited, the significant gap between supply and demand contributes to the price variations of vessels. Boats are not a commodity; they’re handmade regardless of size and purpose.
• Oil price: Because of the Russian war in Ukraine, oil prices witnessed a spike in 2022; currently, they seem to have leveled out but can rise unexpectedly again in these turbulent times.
• Recession: It has been predicted that a recession will occur in the fall of 2023; however, it won’t have much impact on the wholesale price of new boats.
• Personnel: The boating industry isn’t like any other business. It is a labor-dense employment and the hourly rates for personnel are rising by the day due to inflation and a change in work ethic after COVID.

The best time to sell your boat would be between February and June, whereas you can buy a boat for a good deal when fall begins – between September and October.

By now, the boat you’re seeking to buy should be available at most showrooms, so inspect it slowly and completely before writing the check. Also, look for discounts and don’t forget to negotiate. There will be savings, even as little as hundreds, to be had.

Is 2023 a Good Year to Buy a Boat?

It depends on your budget as well as the model you want, but overall, 2022 was not a good year to buy, but rather sell. From the data we collected, there was a great demand for used boats in the past two years.

Manufacturers failed to meet the demand for new boats, which meant you likely had to pay a fairly high price for the boat you wanted. The bad news is, these boating industry trends will likely continue throughout 2023.

How is the 2022 Boat Market?

Overall, the boat sales for 2022 succeeded in thriving stably the entire time, both new and used boats; it is expected to be prosperous still in 2023, with consumer interests remaining unchanged, if not increased.

Is Now a Good Time to Buy a New Boat?

If you’re not in a rush, carefully inspect your dream boat. Make sure you get to run a test drive before signing the paper; don’t make an expensive mistake that can be avoided in the first place, and don’t forget about the best time to buy a boat which we’ve mentioned in the previous part.

When you’re buying a boat, especially a used one, you’re putting yourself at a huge financial risk. Test drives are needed to ensure the vessel is in good condition.

By now, you should have the answer to the question we raised in the beginning, will boat prices go down in 2023? Boats aren’t just commodities; they’re complex crafts that require precision in every detail. Though many expect to see boat prices drop in 2023, they will most likely not go down, but rather flatten out. Check out the price of the cigarette boat and fishing boat now!

Ten years of enjoying countless trips on boats never made me love them any less! So I am here to put all those experiences into good use for other boaters who want to have a safe and fun trip with their friends and families.

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Will Boat Prices Ever Come Down?

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A convergence of factors made the last few years a crazy time to buy or sell a boat. Here’s what happened – and what to know about today’s listings.

Photo: Getty

If you tried to buy a boat during the pandemic, you dove into a new type of retail environment – the quarantine market – ­featuring overwhelming demand, multiyear waitlists, soaring prices, and strong competition from other shoppers. Amid lockdowns, social distancing measures, travel restrictions, and canceled vacations, Americans turned to the water in droves. In 2020, boat sales skyrocketed to a 13-year high, reaching levels not seen since before the Great Recession of 2007 to 2009, according to data from the National Marine Manufacturers Association (NMMA) , which represents U.S.-based boat, marine engine, and accessory manufacturers.

But before that happened, most boat manufacturers were expecting another spending pullback, as occurred after the 2008 economic crash, and decided to cut or curtail manufacturing just as demand was ramping up, according to business publications that report on the recreational boating industry. Safety measures to reduce worker exposure to the infectious Covid virus further slowed production lines, and global supply-chain issues made the situation worse.

“We saw a huge spike in demand,” said Nicole Schantz, vice president of OEM & strategic partnerships for Trader Interactive, which includes Boatline.com , an online marketplace that connects consumers with new and pre-owned boats for sale across the U.S.

For every new boat sold in America, more than three pre-owned vessels are sold in a typical year, according to NMMA data. In 2020, pre-owned boat sales exceeded 1 million units for the first time since 2006, and prices surged as used boat inventory shrank.

The X-factor fueling the unexpected run on recreational boats was the flood of first-time boat buyers, according to NMMA. Boat dealers recount pandemic stories of buyers who turned the budget for a canceled family vacation into the down payment on a new boat. Data shows about 420,000 first-time boat buyers entered the market in 2020, and again in 2021 – levels not seen since 2007. In fact, first-time boat buyers accounted for 34% of new boat sales in 2021.

The frenzy is fading

If the past few years have been an extraordinarily challenging time to boat shop, are buying conditions any better now that the pandemic no longer dominates our lives? Industry insiders say the advantage is shifting toward buyers, but slowly. Overall supply has caught up with demand, and the number of boat sales appear to be falling more in line with prepandemic levels.

For example, in 2022, new powerboat retail unit sales decreased 13% year-over-year according to NMMA. But compared with 2019 (the last “normal” year for the boat market), 2022 sales were 6% lower. Pre-owned boat data shows 2022 sales down 13% year-over-year, but up 3% from 2019.

Courtney Chalmers, vice president of marketing for Boats Group , which owns several online marketplaces for both new and pre-owned vessels (including Boat Trader, YachtWorld, and Boats.com), is seeing similar trends. She attributes the dips in demand to a boat market that’s “normalizing” toward prepandemic levels combined with a rise in interest rates. Final sales figures for 2023 won’t be known for some time, but during the first six months of this year, new and used boat sales were tracking roughly the same as the first half of pre-pandemic 2019, and powerboat sales were down 4% compared to 2022.

Schantz agrees. “Around the middle of 2022, we began slowly seeing the trends normalizing to prepandemic levels. They’re still a bit higher than pre-pandemic, however, which confirms that America’s boating passion is still afloat.”

Now that there's more inventory available, there's also more room for discounting.

Nicole Schantz, Trader Interactive (Boatline.com)

While it’s still a seller’s market, boat buyers have more negotiation power now than they’ve had during the last few years.

More boats, shorter waits

Buyers who purchased new boats in 2021 were facing two- or three-year waiting lists, but manufacturers have caught up to demand and “inventory availability has begun to stabilize,” says Chalmers.

“I think we’re going to continue to see a growth in listings coming online as inventory continues to ramp back up.”

Schantz is already seeing that. “We’ve seen a substantial increase in Boatline’s used boat listings. But we’re also seeing more leads from potential buyers.” In fact, inquiries for used boat listings are about five times higher than those for new boats. She surmises that’s because a lot of people who purchased boats during the Covid-fueled buying frenzy didn’t spend a lot of time researching options  or had little choice. “They may be trading up or looking for the right lifestyle choice now that they know more. Many people didn’t know what they didn’t know or bought whatever they could get.”

JP Skov, executive director at Yacht Brokers Association of America and managing partner at Northstar Yacht Sales, based in Portsmouth, Rhode Island, also sees things on the pre-owned side starting to return to 2019 levels. However, he echoes that used-boat buyers may also end up waiting months to a year for some boat types, specifically noting high-horsepower models.

“As long as you’re below 300-hp for a single-engine boat, you’ll probably get it fairly quickly,” he says. “But if you’re looking for 300s or above, you could wait a couple of months easily for that motor.”

Ellen Bradley, senior vice president of marketing and communications for NMMA, advises new boat buyers, “There might be the odd waitlist, depending on the type of boat you’re looking for. But for the most part, those wait periods have stopped.”

Room to negotiate The pandemic and its ripple effects quickly turned boat buying into a sellers’ market. But while sales have decreased, pricing is a lagging indicator. According to NMMA data, the average retail price of a new outboard boat (including engine) increased 44% from 2019 to 2022, while pre-owned boats were up 28% over the same period.

While inflation has certainly contributed to higher new boat prices, Schantz says there remains continued demand for both new and used boats.

“While not as great as the last few years, boat prices remain higher than in pre-Covid years. But now that there’s more inventory available, there’s also more room for discounting.” She says that while it’s still a seller’s market, buyers have more negotiation power than they did.

Jack Ellis, managing director at Info-Link, a market research firm that tracks boat sales statistics in the U.S., cautions buyers that prices for new and used boats will not be returning to 2019 levels any time soon. However, he agrees there’s now more room for consumers to negotiate . “Things are definitely starting to cool off. No longer is the dealer expecting to get MSRP.”

He speculates that used boat prices should start to come down as supply and demand return to a more conventional balance.

Expert tips for selling a boat

• Put together a great ad. Schantz says the key is including great photos and a video, if possible. Also write a great description that engages the customer. “Don’t just include the spec info from the manufacturer. Help the potential buyer envision being on your boat.”
• Price it right. With changing prices, owners may be wondering what’s their boat worth today. Schantz advises doing your research and setting a realistic price. For boats valued over $75,000, Skov recommends engaging with a professional broker. Not only will they have a sense of the local market, but they’ll also have access to databases that list the actual sale price (not just the listing price).
• Manage your expectations. “Boats are very personal. I always say it’s like someone’s child,” says Skov. It can be hard to let your beloved boat go, especially for a price that seems low. If your boat has been sitting on the market, contact a broker who can act as a valuable sounding board.
• Sell for the right reasons. There are plenty of great reasons to sell a boat — upgrading, downsizing, lifestyle changes — but you may be out of luck if your goal is to make a quick profit. “Any used boat that’s kind of hanging around is either not as nice as it should be or the owner has put it on the market to capitalize on this pandemic market but, in reality, they’ve kind of missed the wave,” says Skov. — F.M.

Expert tips for buying a boat

• Know your intended use. Before beginning your search, Schantz suggests making a list of your boating needs. “Do you want to take out large groups? Go water skiing? Go fast? Toodle around the lake?” If you’re not sure where to start, Bradley recommends visiting discoverboating.com . The NMMA website has several tools including a boat-finder quiz that can help you narrow down boat types and explore brands.
• Set a realistic budget , says Schantz. “Make sure to figure in all costs” including surveys, registration, taxes, necessary repairs, and more. To help, visit BoatUS.com/Loans to access BoatU.S.’s handy boat loan calculator.
• Find a reputable dealer or broker. “There are certification and training programs for dealers and brokers,” says Chalmers. “Look for certified dealers through the Marine Retailers Association (MRAA) or Certified Professional Yacht Brokers (CPYB).”
• Research your boat options thoroughly , advises Schantz. Compare models. Make sure you have all the information possible before starting negotiations. Additionally, Bradley recommends attending boat shows . “They’re one of the best places to see all the new products, do some negotiating, and find some deals for the season.”
• Get a survey . BoatU.S. recommends hiring an accredited marine surveyor to perform a pre-purchase survey and sea trial on the boat you’re considering. This is the best way to discover any problems before it’s too late. Get recommendations for a reputable surveyor credentialed by NAMS or SAMS, and be sure your purchase agreement contains a clause that stipulates that your offer is contingent on a satisfactory survey.
• Know your financing options . There’s more than one way to apply for a boat loan . You can apply through a lending institution (like your bank or credit union), a dealer, or through a service company or finance broker. Coburn notes there are several advantages to financing your boat through a dealer, including access to “special finance programs on certain brands or models because of [the dealer’s] relationships with boat manufacturers.” — F.M.

Rates and requirements

For those looking to finance a boat, don’t expect a break on rates anytime soon.

“The prime rate is expected to remain elevated through 2024,” says Jim Coburn, owner of The Coburn Consulting Company and director and two-time past president at the National Marine Lenders Association (NMLA).

For some, it may be harder to get a loan amid tightening credit requirements, he adds. In a recent survey of members, about 40% of participating portfolio and service company lenders made criteria for loan approvals more stringent.

“Some portfolio lenders commented that they had not changed their lending policies but are now making fewer exceptions in the areas of loan-to-value ratios, collateral valuation, and/or liquidity requirements,” Coburn says.

Schantz adds that as of now, manufacturer prices aren’t coming down enough to make up for the interest rate increases.

All in all, if you missed out on the pandemic-fueled boat buying free-for-all (or chose to stay on the sidelines), there’s good news: Both the new and used markets are becoming more buyer-friendly and should at least offer a less stressful shopping experience. With improved selection, reduced waitlists, and the potential for price negotiation, you can take your time finding the right boat to get you on the water next spring.

What’s hot today

“ Pontoons , ski-wakeboats , center-consoles, bow riders — those tend to be the favorite types, particularly on Boat Trader,” says Chalmers. “Boats under 35 feet have really been driving sales because they’re good boats for first-time buyers. Also, versatile boats tended to be the most popular. A ski-wakeboat can be used for taking the family out, a center-console can be good for fishing or tubing.”

“Industry-wide sales of aluminum-hulled boats, specifically pontoons, have increased 14% year over year in June” says Schantz. She’s seen the same trend mirrored in marketplace sales on boatline.com. “Pontoons offer comfort without compromising the kind of boating you want to do. They accommodate large groups and a variety of water hobbies,” she explains.

“The outboard segment is becoming a more popular vote overall,” says Bradley. “The technology in the engines today is not only more efficient and more sustainable, it’s also a lot easier to use and can provide a better experience.” — F.M.

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Fiona McGlynn

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BoatUS Magazine contributing editor Fiona McGlynn and her husband sailed their 35-footer trans-Pacific for two years. Now living north of 59, she’s part of their local search and rescue team and edits WaterborneMag.com, a millennial boating website.

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2022: the used boat market at its peak, what trend for 2023?

Each year the French administration communicates the registration statistics for new boats (“New Registrations”) and second-hand boats (“Changes in ownership”). The 2022 statistics have not yet been communicated. However, it is clear that 2022 was another exceptional year for the used boat market, in line with the years 2020 and 2021, and that 2023 should confirm a structural trend in the used boat market: more transactions and higher average price.

As a reminder, against all expectations considering the sanitary situation, the second-hand boat market had experienced an exceptional year in 2020, 79,677 boats changed hands, an increase of 31% compared to the year 2019 (61172 sales). All sales records have been broken. In 2021, we thought that the market would return to its 2019 cruising speed… but the market has again experienced exceptional growth: 115,895 boats have been sold ! It is therefore a market that has doubled in number of transactions compared to 2019.

The 2022 figures are expected in the coming weeks, but it is very likely that the number of transactions should be around 100,000 units sold, which would once again be exceptional. The main reason for this enthusiasm for second-hand boats : the possibility of spending holidays in France and enjoy a hobby that has not really been impacted by health restrictions. Secondhand boats are available straight away, which is not the case for new boats for which you sometimes have to wait several months.

As a direct consequence for 2022 and 2023, the “available” fleet of boats has been considerably reduced and there are currently few offers on the market meanwhile the demand is still very strong. The segments most in demand are the sailing boats between 10 and 14 m, less than 15 years old and main stream brands such as Bénéteau, Jeanneau, Dufour, HANSE, Bavaria, for budgets ranging from 50,000 to 300,000 €.

The number of transactions has increased…. As has the prices: in the early 2010s, a 5 year old second hand boat was selling 50% below its original purchase price, which was abnormally low. The value of the second-hand boats was “crushed” by the various tax advantages linked to new boats, via the possibility of reduced VAT leasing. Since 2021, there has been a significant increase on the average selling prices of second-hand boats, 2022 has confirmed this trend.

To be noted, this market growth and this increase in selling prices is not limited to the French market: the second-hand boat market is a global market and the growth is very strong everywhere. The demand for used boats has exploded all over the world. For your information, 31 % of the boats sold by ANTIPODE are sold for export, mainly in Europe, and for the 5 boats in 2022, in America (USA, Canada, Chile). For all professionals in the boating industry, this enthusiasm is very reassuring for the future: 10 years ago, our industry was predicted to evolve from an “owner” market to a “user” market: shared ownership would come to modify the habits and provoke a progressive erosion of the market... we experienced the exact opposite, boating is a leisure that attracts more and more people, as owners or for charter.

Sale of second hand sailing boats and power boats over 8 meters in France, from 2008 to 2018

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Berthon publishes an annual Market Report, reviewing yacht sales over the previous year and looking at what we believe will be the important trends and changes in the year ahead. Berthon are bluewater specialists and manage luxury yacht sales through a network of international offices.

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• Brexit & Yacht Registration by Duncan Swanson – The UK Ship Register & Yachts in a post Brexit environment by Duncan Swanson of Ocean Skies.
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Market Report 2020

• The Market Report 2020 by Sue Grant
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• Brexit and getting on with life…
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Editor’s Note: Much of the 2020 Berthon Market Report was written before the Covid-19 crisis gathered momentum. We decided to continue with this publication, just updated slightly. Of course we cannot know the impact of this crisis on all aspects of life going forward not just yachting, so we will not guess. We ask you all to stay safe, keep well and we hope that you will enjoy these jottings.

Market Report 2019

• Market Report 2019 Opening Remarks By Sue Grant
• Sailing Yacht Review By Alan McIlroy; footnote by Sophie Kemp
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• THE CONFIDENCE & CURRENCY GAME
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Market Report 2018

• Market Report 2018 (Opening Remarks) By Sue Grant
• Sailing Yacht Review By Alan McIlroy and Sophie Kemp
• Motor Yacht Review By Hugh Rayner
• Performance Yacht and Advanced Yachts Review By Ben Cooper
• Solaris Review By Richard Baldwin
• The Windy UK Review By Ben Toogood
• Berthon USA Review By Jennifer Stewart, Alan Baines and Bill Rudkin
• A word about GDPR
• The Pacific and Southern Hemisphere as a cruising destination
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Will Boat Prices Go Down in 2023? – Best Time to Buy a Boat

Written by J. Harvey / Fact checked by S. Numbers

The question, “Will boat prices go down in 2023?” is a considerably hot topic on numerous boating platforms. Based on boating industry trends in the past two years and the continuous rise of the boating market, the short answer is that boat prices are highly unlikely to go down in 2023 due to pandemic-caused supply chain disruptions and the continuing popularity of boating in general. Read on to know the exact explanation for this trend.

Table of Contents

What’s Behind The Rise In Boat Prices And Is It Likely To Continue Or Plateau

Unsurprisingly, used boats are on high demand, some helpful tips to keep in mind to make the most out of your money.

Most of it hinges on supply and demand as well as the manufacturing challenges being faced by the boating industry at large. In 2021 alone, roughly a year since the pandemic hit, the boating industry was already booming, and experts are expecting it to carry on for a long time due to the following reasons:

• Shortages in workers and materials to construct boats as a result of the spike in demand naturally resulted in the marked bump in prices.
• Essential boat materials like steel and aluminum are at an all-time high due to COVID supply-chain disruptions.
• The 2022 boating industry forecast points toward a hefty 2% rise in boating sales.
• It doesn’t help that marketers are continuing to innovate the way they draw new people into boating, usually through subscriptions and membership in boat clubs.
• Boat buying is mostly a word-of-mouth business, wherein almost any boat owner has a potential new prospect in his or her immediate circle.
• As long as people have disposable income, the demand for boats will stay hot. So to those asking, “When will the boat market crash?” It will most likely only come along with a major recession.

That being said, some experts are expecting the rise in prices to slow down now that the world is slowly opening up. They’re banking on the supply finally catching up with the demand as early as 2023, but even so, nothing’s ever really set in stone. Moreover, the prices may only plateau for a few years then increase again.

And many owners are also finding them a bit expensive. On average, a 20-foot boat can still cost as much as $15,000, after all. Comparing used boat prices in 2023 to prices for new vessels, though, you can still save well over 50% of the usual prices of the latter.

In fact, one of the most promising boating industry trends in 2023 is the rise of the used boat market. This is mostly dictated by myriad factors such as boat owners who rode the pandemic bandwagon and bought boats but are looking to sell them now with the roads slowly reopening.

There’s also a noticeable rise in demand for used boats, and for people looking to make a profit from their past vessels, there’s no better time than now to strike a terrific deal. We also have the pandemic to blame for the shortage of new boats, thereby, forcing most consumers to simply buy and refurbish used vessels.

• The best time to buy a boat is generally in September or October when many manufacturers offer substantial price cuts.
• If you’ll settle for nothing less than new boats, check out sites like this one, which shares a list of new boat prices 2022 along with noteworthy offerings you can get for a bargain.
• Regularly attend boat shows. Before you do, though, make sure you already have a set budget and stick to it.
• Be mindful of any additional costs you may have to pay once you buy a new or used boat . You may have to set aside an emergency fund if you don’t prefer marine insurance.

Consider watching this video to get more helpful boat buying tips:

Will boat prices go down in 2023? Are boat prices going to come down any time soon? Based on the facts stated here, to say yes is to shoot for the moon. Forecasts still show a continuous rise in demand and sales for this year. However, you can always opt for used boats and rely on the cost-saving tips we shared here to still manage well within your budget.

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Sailboat Market: Global Industry Analysis and Forecast (2024-2030)

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Sailboat Market Overview:

Sailboat Market Dynamics:

Sailboat market segment analysis:.

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Sailboat market scope: inquire before buying.

Global Sailboat Market
	Details
	2023		2024-2030
	2018 to 2023		US$ 6.00 Bn.
	2.85 %		US$ 7.31 Bn.
	by Hull Type	Monohull Multi-hull
	by Length	Up to 20 ft. 20-50 ft. Above 50 ft.
	by Technology	Variable pitched Fixed pitched Folding
	by Product Type	2-blade 3-blade 4-blade

Sailboat Market by Region

Sailboat market key players, about this report.

Report ID	126982
Category	Automotive and Transportation

Published Date	June 2024
Updated Date
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Home » Blog » Buy a boat » 8 tips for buying a used boat in 2023

8 tips for buying a used boat in 2023

By Author Fiona McGlynn

Posted on Last updated: May 16, 2023

Buying a used boat can feel like a roller-coaster, with all the thrills and a smidge of terror, particularly in a red-hot market. If you’ve tried to buy a used boat in the past three years, you’re probably nodding along (and maybe feeling a bit queasy)!

So, to help you get your bearings, I decided to have a chat with Chris Perera, the president and founder of  boatblurb.com and boatdealers.ca , where thousands of boats get bought and sold. 

Chris has seen it all in the boat market and so I wanted to get his top tips for buying a used boat in 2023. To hear our full conversation, check out the video below. 

So, let’s dive in!

1. Know what you want  

Okay, this may seem obvious, but if you can get really specific about what you’re looking for, you’ll save yourself a lot of time searching.

The first step is to narrow down what type of boat is right for you . “First of all, think about what type of boating you want to do,” said Chris. “So, are you going to be trailering your boat? What type of waterways are you going to go to? What type of activities do you want to do?” 

He suggests creating a wish list based on how you plan to use the boat and then researching boats that fit those needs. “Take a look at the available listings. See what the costs are. Does it meet your budget?”

2. Get specific with your searches

“When you search, the more information you can put in, the less results you’re going to have to sift through,” said Chris.  

How specific should you be?

“If you’re very specific in terms of the size of the boat, the type of boat, even the make, the model, those are definitely going to help you be efficient in terms of finding that boat for you.”

To get really smart with your searches check out our post on how to find free and cheap boats for sale on Craigslist and other marketplaces.

3. Use search alerts

Most pre-owned boat marketplaces have search alert features that can cut down on the amount of time you spend searching.

“So, any search you conduct on [boatdealers.ca], you can subscribe to an alert. And if new listings come in that match that you will get an email to let you know that they’re available”.

4. Reach out quickly (with the right questions)

To find a good deal, especially during springtime, Chris suggests being quick to contact a boat dealer or private seller when you see a listing you like. “The key to this is really to keep an eye on the market…and reach out as fast as you can,” said Chris.

When reaching out to sellers, it’s crucial to show genuine knowledge and interest in the boat. “Don’t just contact them and say, ‘Is it still available?’ You want to ask more specific questions,” said Chris. Asking about the boat’s options, maintenance history, and ownership can engage the seller more effectively. 

5. Video is great, but in-person is better

It’s a good idea to ask for photos and videos because they can give you an idea about whether or not the boat is in good condition. However, you should always see a vessel in person and ideally take it for a sea trial before closing the deal.

“Pictures are great, but they’re sort of a starting point, right? …With pictures you can kind of cover things up. Whereas a live video, you’re getting it almost like you’re there.”

But ultimately, nothing beats the real thing. “I recommend at some point, before you complete the purchase, that you go out and see the vessel yourself firsthand.” 

6. Do a little price comparison

Pricing a used boat isn’t like pricing a used car. Because boats are a much smaller market, the pricing data isn’t as good.

So, how can you tell if the current owner has a reasonable asking price? Chris suggests comparing your boat to similar boats listed for sale.  

If you want to do a bit of pricing analysis, check out our detailed guide to used boat pricing .

7. Hire a professional marine surveyor

“Now, if you really want a firm value on a boat, there’s really only one way to get that, and that is to hire a surveyor,” said Chris.

“A surveyor has immense experience in terms of checking the hull and checking the condition of the engines. They’ll take it for a run. They’ll be very in-depth in terms of evaluating that boat and telling you exactly what’s going on with it and the value of it.”

Hiring a professional surveyor is a great way to buy yourself some peace of mind (especially for first-time buyers). 

8. Financing for used boats – it’s a thing!

Before chatting with Chris, I wasn’t sure how easy it was to get financing for a used boat.

According to Chris, some banks and marine financing brokerages offer financing on used boats depending on the boat’s age.

I asked Chris to name a few places that finance used vessels and he mentioned  PosPro  and  Walker Financial Services . “Then there are also many dealerships that work with like dealer-specific brokerages.”

We hope you’ve enjoyed these expert tips on buying a used boat. For more tips on navigating the used boat market, check out our 8-part series on how to buy a boat .

Fiona McGlynn is an award-winning boating writer who created Waterborne as a place to learn about living aboard and traveling the world by sailboat. She has written for boating magazines including BoatUS, SAIL, Cruising World, and Good Old Boat. She’s also a contributing editor at Good Old Boat and BoatUS Magazine. In 2017, Fiona and her husband completed a 3-year, 13,000-mile voyage from Vancouver to Mexico to Australia on their 35-foot sailboat.

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2023 Exemption certificates used by liable entities

The table below shows Renewable Energy Target (RET) liable entities that received and reported exemptions for 2023. This includes the total amount of exemption given for each emission-intensive trade-exposed (EITE) activity, and the dollar value of the amount of each entity’s 2023 exemption. 

The dollar value of exemptions is calculated by multiplying exemption certificates megawatt hours (MWh) with the 2023:

• renewable power percentage, multiplied by the average large-scale generation certificate (LGC) spot price of $51.35.
• small-scale technology percentage, multiplied by the average small-scale technology certificate (STC) spot price of $39.82.

2023 exemptions for EITE activities register

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