CAPITAL REGION – If you were hoping to get a custom motorboat for sailing this summer, you are out of luck.
A few problems in the powerboat market mean that if you don’t buy them off the lot, you may not be buying them at all.
However, if you are looking for a smaller boat that is more like a canoe or kayak, you will most likely find what you are looking for.
While the boat market has not been immune to inflation or production problems, none of this has stopped people from buying boats and setting sail.
“Boating in general started to take off when COVID hit and it didn’t slow down,” said Chris Rapp, owner of CR Marine Services in Rotterdam.
But while yachting was gaining momentum, the industry slowed down a bit.
“We were lucky because I pre-ordered the boats,” Rapp said.
He also ordered more boats in anticipation of people who still want to buy them.
“I sell a lot more to first time buyers,” he said.
What he doesn’t really see is that a lot of people are looking to replace their used boats with something newer – partly because the used boat market has exploded and some people are heading to places where they can get 10-15 % over book value.
However, if you want something ready this summer in your favorite color with different settings, it won’t happen, he said.
Rapp said this is because manufacturers are having trouble getting certain parts, including computer chips, a supply issue very similar to what happened to the car market during the pandemic.
Supply chain problems also mean that some boats ordered last year have yet to be delivered to customers.
In addition to supply chain issues, prices for new boats have risen by about 20%, Rapp said. Usually it increases from 3 to 5% from year to year, but the cost of parts has increased, so the total cost has increased. Add to that the fact that interest rates have now gone up, and that creates an interesting selling market, Rapp said.
But on the other hand, while people can pay more for boats, they get a more reliable engine and fuel economy, which could come in handy given gasoline prices, which have hit record highs in recent months.
If you’re looking for something a little smaller, without the hassle of filling it up before taking it out on the water, you should look into the canoe and kayak market.
CANOEES AND KAYAKS
Stock is plentiful at the Adirondack Kayak warehouse in Amsterdam, according to owner Joe Giardino.
“We have a full warehouse,” he said.
He said last year was a great year for the store and he hopes this year will be the same. However, he said, “I do think the economy is putting pressure on people.”
Inflation is currently at an all-time high and boats can cost anywhere from $299 to $5,000 depending on what you buy.
However, according to him, the increase in prices was insignificant. Now it’s about getting people to buy a boat. He said kayaking is very…