A couple of days ago I was searching through YouTube, where brokers film boats for sale and I came across a boat I looked at 4 yrs ago.
It was a Sealine S28 1997 and was advertised at £59,995, needless to say I fell off my chair because in 2017 the owner had it on Apollo Duck for £45,000 and would have taken £39k. We looked at it then and were impressed, but walked away on the advice of a well respected Volvo Engineer due to the engine modifications. Turns out it had had new Turbo's and extensive engine work.
Being as this was a '97 I took a look at a few more and there was another at £62k.
I did some further searches of similar boats and the surge continued, for example a Fairline Targa 29, 4 yrs ago at £45k now is £60k.
Now obviously in the wonderful world of hindsight we should have just bought anything, but who would have known Covid would happen and the rise in boat prices too as 4 years ago prices were fairly static.
This surge in boat prices is also going on in the US, but how long will it last but more importantly how as it happened? It is undoubtedly due to the Coronavirus with more people not going abroad or not buying houses abroad but having staycations, but I do wonder where the money is coming from in such great numbers, especially when people have lost jobs and companies have folded.
Back in March/April last year at the start of the pandemic and then lockdown, there were lots of articles from boat owners suggesting a drop in the economy would affect luxury items and of course luxury items are the first to go and this has bee true throughout my lifetime. However when a boat has gone on the market
both last year and this, it sells for silly money almost immediately. Again I would ask where is this money coming from in such great numbers especially when businesses have been closed and people are losing there jobs?
If anyone has any thoughts on this I would love to hear.