Why there's never been a better time to sell your boat
Nov 09, 2021
If you’ve been considering selling your boat, or even keeping an eye on boats for sale it will come as no surprise to you that the market is booming. Every year Boats Group publishes the YachtWorld Market Index, so we’ve summarised their findings on the increase in boat sales, and what this means for you.
More buyers than boats for sale
As with many industries the Covid-19 pandemic has disrupted supply of new boats, making them harder to get hold of, and brokerage boats even more appealing. On top of this, experts have identified a global increase in the number of new boaters. Currently, demand significantly outweighs supply, meaning there’s never been a better time to list your boat.
Increased boat value
The global value of boats sold has increased by 98% from 2020 to 2021. However, due to supply levels there has only been an 11% increase in the number of boats sold, showing us that you’re likely to make more from selling your boat than you would have pre-pandemic. This is reinforced by figures demonstrating a 70% increase in boat sales value in 2021 vs 2019, and only a 13% increase in boat sales during this period.
How much is your boat worth now?
If you’re looking to sell the value of your boat will depend on a variety of factors, the make, model, what condition its in amongst other things. However, the Boats Group have highlighted that globally, power boats have increased in value by 136% from 2020 to 2021, with sailing boats at 103% increase value over the same period.
Globally, we can see that larger boats have seen a bigger growth in boat value from 2020 to 2021, with boats from 46 foot (14 metres) upwards having seen the biggest growth in value. So, if you’re looking to take a break from boat ownership, or you’re looking to downsize this is the perfect opportunity.
If you’ve been contemplating selling your boat and are keen to find out what it’s worth please do not hesitate to get in touch with the team here at boat point. Not only will we help you sell your boat for the best price possible, we also have nationwide coverage with offices across the UK and we’ll help you with all the formalities and legal aspects associated with selling a boat.