Medium now time to sell your boat

Is now the best time to sell your boat?

By James Barke on 14 June, 2021

Brand new or used, motorboat or sailing yacht, there is no doubt about the increase in demand for all kinds of boats throughout the British Isles. As a result of this surging demand, there is a shortage of stock and in the last few months a possible increase in the value of your boat. How long this will continue - we do not know - there is a lot about the boat market we could not have predicted! So this could mean that yes, now maybe the time to sell your boat - well if you want to take this opportunity for the best return, at least.

James, MD at boats.co.uk goes on to answer some further questions about the boat market.
 
SO WHY IS THE DEMAND FOR BOATS SO HIGH?
There are many reasons - but this is what we think: While the nation is clearly done with talking about the virus  - uncertainty surrounding foreign travel remains and holidaying in countries with different variants is still considered risky by some. Families all over the UK are flocking to seaside resorts, coastal towns and glamping sites - plumping for some good old fashioned, home grown fun.

When you put a boat in the mix of places to stay and fun to be had  - the staycation seems even more attractive.

The welcome turn for the best in the weather has bought people bursting outdoors to enjoy the sun and the clement temperatures - trying out paddle boarding and kayaking - getting the jet skis out - the obvious next step is "we're going to need a bigger boat" And perhaps because despite the economic crisis we were all prepared for, some people have made savings they weren't expecting -  what better way to spend the holiday budget than going all out on a treat and splashing out on your very own boat.


ARE THERE WAITING LISTS FOR BOATS? HOW LONG ARE THEY?
Because supply is so short and demand is so high, like many of us in our industry, we have a waiting list for brand new boats. The manufacturers and factories have suffered some extraordinary supply chain issues over the last year, plus they have had periods of time where they have been closed altogether. They simply have been unable to get the boats built at the rate they are selling them. Orders are in, but it's a waiting game - some of our customers have opted to upgrade as they planned, but have settled on a better but used boat, just so they can get out on the water quicker this season.


WHAT IS LIKELY TO EFFECT THE VALUE OF MY BOAT AND WHETHER IT HAS GONE UP?
Lots of boats are fetching more than customers paid for them if you bought them pre Covid. I would say that if you bought a motorboat in the period 2016 to Feb 2019 then you will most likely get your money back or sell for a profit. The UK's main brands of Princess, Sunseeker and Fairline are flying and certain models like the Princess V40 are fetching 'overs' for the right specification and condition. If you want to know- then click the valuation button and we will give you an accurate valuation. It may make your day !
 

WILL THE MARKET CONTINUE TO IMPROVE AND IF SO WOULD IT BE BETTER TO WAIT TO SELL?
It's a tough one to call. We do seem to be experiencing an upswing during this period of feel good and optimism as lockdown lifts and the sun comes out - it is sailing season after all -  we're unsure if this is an isolated upsurge and that as we come further out of lockdown people will have more to do, more places to visit, and more to spend their money on - if this is the case it maybe that we will see prices and the value of boats stabilise as the level of demand and supply returns to nearly normal levels.


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