Current Boating Prices: A Buyer's or Seller's Market?

(Boats Group.com)

Whether it is a good time to buy a boat now in September, 2023 depends on your individual circumstances and preferences.

It's a Seller's Market: The boat market is currently a seller's market, meaning that there are more buyers than sellers. It has been this way for years, despite expectations of a downturn. Therefore, prices are high and it may be difficult to find a good deal. However, experts continue to predict that the market will shift towards a buyer's market after a few years.

Things to Consider:

• Your budget: How much can you afford to spend on a boat? The cost of boats can vary widely, so it is important to set a budget before you start shopping.

• Your needs: What do you need a boat for? Are you planning to use it for fishing, cruising, or watersports? The type of boat you need will affect the price.

• Your time horizon: How long do you plan to keep the boat? If you plan to sell it in a few years, you may want to wait until the market cools down.

If you are in the market for a boat, it is important to do your research and shop around. You should also be prepared to negotiate on price. According to expert market studies, the boat market is expected to remain a seller's market for the next few years. This is due to a number of factors, including the rising cost of materials, the ongoing chip shortage, and the increasing popularity of boating. However, the market is expected to cool down eventually, and buyers may start to have more leverage in negotiations.

If you are patient and willing to wait, it may be a good idea to wait until the market shifts towards a buyer's market. However, if you are in the market for a boat now and are willing to pay the higher costs, there are still plenty of good deals to be found.