Thinking of selling your boat. Now is the time!
There has never been a better time to sell your boat.
If you have been considering selling your boat, now is the time to do it. With the shortage of boats and the ever-increasing demand, sellers are getting a premium for their boats right now. Recently, owners receive enough for their pre-owned boat to nearly pay for their family’s boating expenses for the previous two years!
With the heightened interest in outdoor recreation activities and ways to social distance, consumer demand for new boats surged across the country in 2020 and is continuing it’s progress well into 2021.
The National Marine Manufactures Association (NMMA), reported that retail unit sales of new powerboats in the U.S. increased last year by an estimated 12% compared to 2019. More than 310,000 new powerboats were sold in 2020, levels the recreational boating industry has not seen since before the Great Recession in 2008.
“2020 was an extraordinary year for new powerboat sales as more Americans took to the water to escape pandemic stress and enjoy the outdoors safely,” said Frank Hugelmeyer, NMMA president. “For the first time in more than a decade, we saw an increase in first-time boat buyers, who helped spur growth of versatile, smaller boats – less than 26 feet – that are often towed to local waterways and provide a variety of boating experiences, from fishing to watersports.”
Consequently, some people bought a boat that was not the perfect fit for them. Others were new to boating and didn’t quite know what they wanted. The ability to spend more time on the water and learn what type of boat might be a better solution for them has also increased the demand.
Boat sales are expected to remain at historic levels in 2021 as manufacturers continue to fill a backlog of orders from 2020. Pandemic-related supply chain constraints curbed powerboat production and shipments for several months in 2020, which are expected to subside and restore marine manufacturing to normal levels this year. Additionally, social distancing measures are likely to continue well into the latter months of 2021, spurring additional interest in safe outdoor recreation activities including boating.
“We expect consumer interest in boating to remain strong through 2021 and beyond, with millions of Americans discovering the mental health benefits and joys of being outside and on the water,” noted Hugelmeyer.
According to Boat Trader’s recent boating marketplace data, sales of used boats remain on the rise nationwide in 2021 after the pandemic set in motion a wave of new enthusiasts buying boats. Early spring transactions for used boats under 36 feet jumped 41% over the same period last year. And this is likely to continue into the summer months of 2021 and beyond.
For some shoppers, squeezed selection makes decision-making quick and easy. What has helped relieve some of the supply strain is current boat owners recognizing the opportunity for a quick payday and selling their boats for a premium.
When it comes to selling a boat using a broker is a smart way to utilize an expert in the industry in order to sell your boat. Whether it’s their connections, knowledge of the industry, or negotiating strategies, a broker will make selling your boat an easy process. Selling your boat can be a painless process, if you focus on your goal and engage an expert it can be an experience that is rewarding!
Let us sell your boat!
“The market values are very high and people are getting premium prices for their used boats and yachts,” says Shane Faunce, Founder and President of Tampa Yacht Sales. “We had a guy pay exact asking price just last week. He knew if he didn’t pay it, someone else would.”
Tampa Yacht Sales has been assisting boaters buy and sell for more than 19 years with a reputation for integrity, honesty, service and reliability. Our experienced and knowledgeable team is dedicated to providing the highest quality of service during the entire sales process. We are by your side, advising you throughout every step of the process - contact Tampa Yacht Sales - a name you can trust.
For more information about how Tampa Yacht Sales can help you find the boat of your dreams contact Shane Faunce at (813) 906-0888 for more information or view our current listings.
Have a questions? Let us know!