A quick market update whist standing in a customer's beautiful Squadron 58!

Hello! Today, I'm coming to you straight from our stunning new Fairline Squadron 58, where we’ve been having some good laughs with our latest customers. Being out on the water with you all, whether we’re celebrating your new purchase or just enjoying the joy of boating, is honestly one of the best parts of the job. But let’s dive into something a bit more serious—an update on the state of the market as we wrap up the year.

The Market in 2023: The Highs and the Lows

Right now, the boating market is in an interesting place. On the whole, things are looking alright—some areas are thriving, while others are struggling to keep up.

Let’s talk about the trickier spots first. Sports boats and jet skis are, unfortunately, taking a hit. Anything below the £100k mark without accommodation is a tough sell. They’re moving at a fraction of their usual pace, and some dealers are finding themselves in a price-chasing game that’s not for the faint-hearted. That said, with recent interest rate reductions, we're seeing the tiniest of sparks in that segment, especially with Parker picking up a bit. And while our Sea Ray sales have been slower than usual, they’re hanging in there. Kawasaki jet skis are still in demand, albeit at a trickle, and Williams… well, they’re basically bulletproof in the market as usual!

Cruisers: The Stars of the Show

On the other hand, cruisers are absolutely smashing it. From £100k up to a luxurious £4m, these boats are sailing off the shelves. We think it’s down to two things: customers are increasingly choosing to invest in enjoying life, and with interest rates looking friendlier, they’re more inclined to spend rather than save. Those with cash on hand are embracing the “why wait?” mentality, while borrowers are finding it easier to make that big boating dream come true. It’s been a win-win for the industry.

Fairline has made a great decision here as well—they’ve aligned production with demand, so dealers aren’t sitting on extra stock, which means pricing remains stable and fair. It’s a smooth supply chain now, and that benefits everyone.

Pre-Owned Gems and Hidden Pitfalls

The used boat market remains a cornerstone for us here at Boats.co.uk. Every month, we’re moving around 10 to 20 used boats. Big-name brands are consistently selling, but a word to the wise: tread carefully with lesser-known brands. We’ve seen that while these boats may initially catch your eye, resale can be tricky.

Home Sweet Home: Our Marina and Beyond

Lastly, a little shout-out to our beloved marina in Essex, just a stone’s throw from London. We’re pleased to be operating at 95% capacity in our 350-berth marina, a testament to the value and popularity of this location. Compared to some South Coast marinas, the pricing here is fantastic, and we’re seeing more customers recognise the benefits of basing their boat here with easy access to explore Europe. Meanwhile, my brother Nick and his team over at our Cala d’Or office are thriving under the Balearic sun - and I’m pretty sure that sunshine has a lot to do with it - that's what I keep telling him anyway!

So, that’s a wrap from here. Whether you’re thinking about dipping your toes in the market, trading up, or are just curious about where things stand, I hope this gives you some insight. There’s always something exciting happening, and I’m looking forward to what’s next for all of us in the Boats.co.uk family!

Until next time, see you on the water!