Why This Explosion in New Boat Prices…
The most important factor behind the increase in prices is that fiberglass and gelcoat are both made, in part, from petroleum-based products. It is therefore easy to understand how the repercussions of the conflict in Iran and the disruption of shipping through the Strait of Hormuz are partly responsible. We are talking about an increase of nearly 25% in the cost of these materials.
In addition, the cost of shipping components by container has risen by nearly 25% over the past year. It is also important to remember that boats are primarily shipped from Europe by cargo vessel, which further increases costs. On top of that, the price of components imported from China has increased significantly, with additional tariffs applied depending on the situation.
To this, we must add the import tariffs on boats entering the United States introduced by the White House, with a minimum tariff of 10%.
When you add all these factors together, it is easy to conclude that a boat that cost USD $1 million last year now costs close to USD $1.3 million this year.
This is why exploring the pre-owned boat market has become an essential option.
The U.S. dollar has also strengthened, which further increases the final price—especially because of the rise of the USD against the CAD.
For example, at the time of writing this article (June 29, 2026):
For new boats built in Europe within the eurozone (France, Italy, Spain, Poland, etc.), including brands such as Azimut, Ferretti, Riva, Pershing, Beneteau, Jeanneau, Prestige, Absolute, Axopar, Saxdor, Sanlorenzo, and Sunreef:
€1 = USD $1.14
For boats built in the United Kingdom (Princess, Sunseeker, Fairline, Sealine):
£1 = USD $1.32
It is therefore understandable that prices have increased significantly.
Fortunately, this does not affect recent and nearly new pre-owned boats, as they were purchased before 2026.
Contact a broker at Ita Yachts Canada and its ProprioBateau division to better understand the market and identify the best opportunities.
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