Tuesday, November 15, 2011
TORONTO BOAT SHOW CRYSTAL BALL
I’m predicting that the Toronto Boat Show that runs January 14th – 22nd will be a big success for vendors selling boats in the 30’ – 40’ range. Smaller boats have been selling and although larger boat sales are lower volume they have been selling up from previous years. The mid size boats or as some say middle class boat sales have been frozen for the past few years. My prediction is based on pent up demand due to sought after innovations with IPS, fuel economy, large outside/inside living areas for sport yachts and in general the notion that a lot of folks are tired of waiting for the next shoe to drop economically and have come to terms with the concept that things are different than they were three or four years ago ... and they will never be the same again.
People want to have fun and if they are already boating they are ready to trade up. Remember after 9/11 how quickly yacht sales shot up. People wanted their own recreational escape from all the stress and commotion – they wanted to travel in a controlled environment where it was safe and they wouldn’t have to be looking over their shoulder. There are lots of people who feel good about their jobs and have been sitting on the side lines with money at hand. People are not as worried about interest rates going up to finance as they are about boat costs rising as the market takes hold and the affect on US built boat prices if our dollar falls because of gold bugs and other countries flocking to the power and safety of the US dollar.
I’m guessing this will be the best year in the last four years for the mid price range 30’ – 40’ boats like Sea Ray, Regal, Cruisers, Meridian, Rinker etc. Besides the boat industry needs a break and the buyers need some fun. Life has been getting too serious over the last few years.