Two years ago the price of gas was $4.00/gallon and the market for about everything including boats tanked. New and used boat sales were practically non-existent. People were locking down spending as the media helped fuel hysteria and end of the world type predictions were all over the Internet.
Last year sales reports reflected a severely distressed market so we adjusted values in the ABOS Marine Blue Book accordingly. Beginning this spring we saw the market for used boat sales start to thaw and we have adjusted many boat values upwards for the first time in memory. With many manufacturers going bankrupt and liquidating, new boat production and inventory has dwindled. Supply and demand seem to be more in balance. As the repossessions and bank sales dwindle we seem to be heading for a more normal market. We will continue to monitor the market for boats, motors and trailers and adjust values accordingly.