Recreational Boat Sales Are On The Rise
by Laura Monteverdi, Reporter
March 03, 2013 6:14 PM
The Sioux Falls Arena and Convention Center may be a strange place to harbor a boat, but it’s a place where boat vendors are sure to make a sale.
“We are seeing an increase over last year so we're really excited about how things are turning," said Barry Cenaiko, manager of the Annual Sportsmen's Show.
On Saturday, vendors at the 46th Annual Sioux Falls Sportsmen's Show said they've seen a recent boost in recreational boat sales, mostly due to the economy.
“The recovery rate from the recession in the Midwest has been overwhelmingly fast so I think there is a lot of demand in the private sector for new boats," said Shane Kendall, owner of Great Lakes Marine Service in Iowa.
Not only that, but many people are just tired of waiting around for the right time to buy.
“I think people can only hold out for so long and if you're a fisherman or you have your family you may have held out for another 5 or 6 years to buy or trade in your boat and at some point you just have to do it,” said Cenaiko.
Boat salesmen at the show said if you are looking to purchase a boat, the timing couldn't be better.
“If you are thinking about buying a new boat, by all means now is the time because you will see a shortage of product and we're not talking a 30,60 or 90 day shortage. You're going to see it going out to 6-8 months,” said Kendall.
What's causing the shortage?
Many people's boats were damaged and even destroyed, but once they receive their insurance checks, many will be looking to cash them in on a new one.
“As soon as those companies get caught up and get those checks issued you're going to see a huge push of product going to the East coast,” explained Kendall.
One boat vendor at the show said his business is already feeling the effects by not being able to get some products until June.