Used Boat Prices Up 29% Since 2019

Press Release from Boats Group, Aug 1., 2022, Miami, FL.-

Boats Group announced findings from its latest market report, analyzing the first half of 2022 while comparing pre-pandemic trends alongside pandemic-driven growth. The rising value of boats has yet to affect consumer demand, with listed boats moving off the market faster and sales remaining higher than before the pandemic in 2019.

Consumer demand coupled with lower than normal inventory levels is driving these historic spikes in boat values as the global average boat price is now $182,900, an increase of 28.9% from 2019. This is further reflected in how quickly boats are moving off the market, selling 32 days faster than last year and 83 days faster than in 2019.

Market Softness Indicators

Budget-friendly options have become increasingly popular for buyers looking to get out on the water. Boats in the 26-foot range saw an average price increase of 71.5% in the U.S. and 140.6% internationally compared to pre-pandemic values. The overall market driver for unit sales from 2019 to 2022 were boats in the less than 35-foot segment.

“As we head into the second half of 2022…Early indicators show inventory making a comeback and becoming more consistent compared to the peaks and valleys we saw in 2020 and 2021,” said Chalmers.