According to The Advantaged Yacht Charters & Sales, that short-term spike in demand for boats now presents a unique opportunity that makes 2022 the best time to make a purchase.Although the pandemic and subsequent economic conditions caused significant challenges for many industries, the boating market experienced a significant windfall.
According to The Advantaged Yacht Charters & Sales, that short-term spike in demand for boats now presents a unique opportunity that makes 2022 the best time to make a purchase.
Skyrocketing Demand Over the Last Two Years Led to Triple-digit Increases in Sales
Flexible work environments, remote working, social distancing, and more, resulted in increased demand for high-end boats and yachts nationwide. New boat sales rose over 40%, while used boat sales increased by around 45%. Some businesses even saw triple-digit increases in year-over-year sales.
This meant that many of these buyers were new to boating and yachting. They sought out the lifestyle as a means to enjoy time off work, distance safely with friends and family, and explore new and exciting hobbies.
It also meant that many buyers had no idea what they were getting themselves into, or whether or not they’d actually enjoy owning and using a yacht or boat in the first place.
While most people find boating to be a fun adventure, others find out they prefer staying landlocked on the beach or out on the town. According to The Advantaged, with COVID all but tamed and people enjoying land-locked activities again, many of these new buyers are looking to unload their barely-used purchases at a discount. This presents a unique opportunity to acquire high-end yachts and boats in near-new condition at prices that offer a lot of value.
Overproduction to Meet Demand Spikes Equals More Inventory
While several industries are still experiencing supply chain issues and shortages of inventory (i.e. the automotive industry), boats and yachts still remain plentiful. Overreactions to demand spikes throughout the pandemic resulted in manufacturers ramping up production only to see demand eventually taper off back to normal levels.
For buyers, excess inventory (both used and new) has presented buying opportunities for savvy individuals looking to expand their fleet or dip their toes into the boating waters for the first time.
The Economy Has Previous Boat Buyers Tightening Their Belts, Often Looking to Sell their Vessels
For some, the looming economic slowdown and downward trend of the stock market has left newly minted boat owners second-guessing their extravagant purchases. These boat owners are now looking to sell, lease and/or rent their vessels in order to recoup money lost in the market. This is a favorable situation for those in the market for a new vessel.
About The Advantaged
Headquartered in Miami Beach, Florida, The Advantaged ranks among one of the oldest and most well-respected luxury yacht charter companies in the state. Having proudly served the local Miami and Fort Lauderdale community for over a decade, The Advantaged brings together a unique set of experience, talent, and exceptional service to create memorable experiences their charter guests and yacht buyers won’t soon forget.
As an elite charter company, The Advantaged strives to live up to the highest standards in every aspect of its business, providing clients with an unforgettable experience. Their stunning fleet boasts over 30 cruisers, yachts, mega yachts, and sailboats.
Those interested in learning more about purchasing a vessel or booking a charter are encouraged to reach out via their official website or by calling 305-358-0745 today.
Media Contact
Company Name: The Advantaged Yacht Charters & Sales
Contact Person: Nancy Maldonado Yanez
Email: Send Email
Phone: 305-282-4992
Address:1800 Purdy Avenue, Marina Ste 3B
City: Miami Beach
State: Florida
Country: United States
Website: https://theadvantaged.com/
