2022: the used boat market at its peak, what trend for 2023?

Each year the French administration communicates the registration statistics for new boats (“New Registrations”) and second-hand boats (“Changes in ownership”). The 2022 statistics have not yet been communicated. However, it is clear that 2022 was another exceptional year for the used boat market, in line with the years 2020 and 2021, and that 2023 should confirm a structural trend in the used boat market: more transactions and higher average price.

As a reminder, against all expectations considering the sanitary situation, the second-hand boat market had experienced an exceptional year in 2020, 79,677 boats changed hands, an increase of 31% compared to the year 2019 (61172 sales). All sales records have been broken. In 2021, we thought that the market would return to its 2019 cruising speed… but the market has again experienced exceptional growth: 115,895 boats have been sold ! It is therefore a market that has doubled in number of transactions compared to 2019.

The 2022 figures are expected in the coming weeks, but it is very likely that the number of transactions should be around 100,000 units sold, which would once again be exceptional. The main reason for this enthusiasm for second-hand boats : the possibility of spending holidays in France and enjoy a hobby that has not really been impacted by health restrictions. Secondhand boats are available straight away, which is not the case for new boats for which you sometimes have to wait several months.

As a direct consequence for 2022 and 2023, the “available” fleet of boats has been considerably reduced and there are currently few offers on the market meanwhile the demand is still very strong. The segments most in demand are the sailing boats between 10 and 14 m, less than 15 years old and main stream brands such as Bénéteau, Jeanneau, Dufour, HANSE, Bavaria, for budgets ranging from 50,000 to 300,000 €.

The number of transactions has increased…. As has the prices: in the early 2010s, a 5 year old second hand boat was selling 50% below its original purchase price, which was abnormally low. The value of the second-hand boats was “crushed” by the various tax advantages linked to new boats, via the possibility of reduced VAT leasing. Since 2021, there has been a significant increase on the average selling prices of second-hand boats, 2022 has confirmed this trend.

To be noted, this market growth and this increase in selling prices is not limited to the French market: the second-hand boat market is a global market and the growth is very strong everywhere. The demand for used boats has exploded all over the world. For your information, 31 % of the boats sold by ANTIPODE are sold for export, mainly in Europe, and for the 5 boats in 2022, in America (USA, Canada, Chile). For all professionals in the boating industry, this enthusiasm is very reassuring for the future: 10 years ago, our industry was predicted to evolve from an “owner” market to a “user” market: shared ownership would come to modify the habits and provoke a progressive erosion of the market... we experienced the exact opposite, boating is a leisure that attracts more and more people, as owners or for charter.