Boating a popular activity in South Florida.

Used boat prices still high as boating becomes an ever increasing popular activity

Boat prices in May 2022 were still very high and they will likely come down in the future. It could be six months, a year, two years, we don’t know but boat prices will go down because the demand from 2020 was so high because of the pandemic and a lot of people have moved to boating or RVing as these outdoor activities really went up during Covid. 

But there’s a lot of maintenance involved in these boats and a lot of people that had bought boat, and don’t know anything about it have to pay a marine dealer to do this, and this is very costly and they’re getting right now to that point that they need to do maintenance to their boat and it costs thousands of dollars for a boat they’re not even using that much. 

There’s noticeable rise in demand for used boats, and for people looking to make a profit from their past vessels, there’s no better time than now to strike a terrific deal. But in October 2022, people that want to buy find a lot of options out there but prices are still inflated. 

Thorough research and wait are your friend as a boat buyer at the end of 2022. The market is picking up production but inflation and the lack of parts have made that task a little daunting.

Here we paddle through Whiskey Creek in Dania Beach, South Florida.

Understanding the origins of the high prices for used boats

For new boat users to understand, book values are notoriously inaccurate on boats. They can’t keep up with what the local market is doing. Sometimes (like now) boats sell for way more than book. The only true indicator of boat pricing is how much they’re selling for on your local market. So your local Facebook marketplace is likely your best research tool. To a lesser extent, But Facebook has far more boats and more buyers looking for boats so it tends to be the best indicator of the market for used boats. 

As the supply chain issues from Covid get resolved, we will see a shorter wait time for new boats, and as more parts become available fixing boats will be faster and cheaper, so prices may go down at about Fall 2023.

A lot of people that never owned a boat, purchased a boat and right now it’s coming to the point that they need to do this maintenance to these boats a lot of people went back to work

A boat repair bill shows 15 hours to diagnose the issue with the spark plugs.
A boat repair bill shows 15 hours to diagnose the issue with the spark plugs.

uh went back to cruising on cruise ships and they forgot about their boats so these boats have been sitting in lots, boat lifts or boat yards getting sun, getting a lot of wear on it they don’t cover it. And in several years that will eat the Gel coat and do some serious damage to their boats.

For these boats it’s coming to the point right now, that they need to do some maintenance to them, they have to start changing parts, the water impeller which is 500 bucks. And if a boat has two three motors, it could be several thousand Dollars.

Boating still a popular activity but so are jetskis and kayaks

Boat sales of all sizes are sensitive to every ripple in the economy. A stock-market plunge, an oil-supply disruption, excessive inflation, an interest rate hike, a luxury tax or a war somewhere can all reduce consumer confidence and cause a sales drop.  

An estimated 142 million Americans (adults and children under the age of 18) went boating in 2020 – 36 percent of U.S. households – according to the Recreational Boating Participation Study, released today by the National Marine Manufacturers Association (NMMA), Recreational Boating and Fishing Foundation (RBFF) and Discover Boating

Of the 142 million individuals, 17 million individuals were first-time participants, and half of these first-time participants were children under age 18. Of those Americans who went boating, those who spent the most hours on the water or engaged in fishing and water sports were more likely to consider purchasing a boat.

Boats weren’t the only form of recreational transport to spike starting in 2020: Bicycles, RVs, and electric scooters all sold like hotcakes.

But boats in particular seemed to benefit from a perfect storm of more flexible remote work schedules, travel restrictions, and timing (boating “season” is generally considered to run from April to October, which coincided with 2020 lockdowns).

Jetskier cruising at speed.
Jetskier cruising at speed.

Jetskis, kayaks or paddleboards: a more affordable alternative for people that want to be on the water

Some may prefer jetskiing over boating as jetskis, and even kayaks are way more affordable and practical activities.

The costs are obviously the larger difference, but when it comes to

Jetski is not only an exciting water sport but also an exercise to train all the muscles of the body. This is a great exercise because it works multiple muscle groups and strengthens the body. 

But jet skiing, kayaking or any other form of outdoor exercise is a fun way to keep your body and mind healthy more so. 

During jetskiing the muscles of the arms and legs are intensively trained from the vibration of the vessel. When kayaking, the arms are used to steer the boat while the legs are used to keep the boat steady and steady on the water. 

When you’re navigating rough waters maintaining your balance and staying aboard can be a challenging task. With continued effort your body will learn to balance itself better with the help of strengthened core muscles a flat spine and better overall posture and helps burn calories. 

Psychological benefits of outdoor activities for stress relief

Being on the water itself is a relaxing activity and when you enjoy a fun sport like jetskiing you will surely feel better and forget your daily worries.

Physical activity can completely relieve stress and anxiety because exercise increases dopamine and endorphin levels in the brain and body. This in turn improves mood and improves mental health significantly.

Exercise not only boosts your mood but also boosts your self-esteem. Jetskiing and kayaking are a more enjoyable form of exercise than exhausting. As a more affordable activity, it will keep you Regular aquatic exercises will relax you and help you gain the confidence you need when learning a new sport and adding other skills to your growing inventory. 

As your body and mind in general improve you may feel more confident and better about yourself.

Max Francisco