Boat sales in Orange County boom during pandemic
Tired of hunkering down under the imposed pandemic safety restrictions, people are itching to get outdoors both on land and sea.
Similar to the surge in bicycle purchases, the boating industry has seen a spike in sales especially for first and second time buyers mainly in the 30- to 50-foot range.
Local independent yacht broker Bill Forsythe said the boat business is the best it’s been in years.
“Every day, not just weekends, there’s lots of people on the water, more than I’ve seen in years,” said Forsythe.
Forsythe, originally from Washington state, has lived in and around Newport Beach for 40 years. He has been in the business of selling new and used yachts for 45 years.
He began his career as a police officer in Kirkland, Wash., serving for six years before he moved to Honolulu, Hawaii in search of a warmer climate and a new path selling insurance. During his stretch in Hawaii he lived on a 52-foot sailboat boat in the Ala Wai Harbor and got hooked on the idea of putting people and boats together.
After five years in Honolulu, he was transferred by the insurance firm he worked for to its Southern California office in Arcadia. Once back on the mainland, his interest in yachting intensified.
Eventually getting licensed with Flying Cloud Yacht Sales in Long Beach, Forsythe left the insurance business and moved to Orange County. After working for Mariner’s Yachts in Newport Beach, he opened his own company, Yacht Connection, during the ‘80s.
Forsythe, who sells mostly used boats of all sizes, makes and models, from 20-foot sailboats to 90-foot mega yachts, says he has never seen inventory so low.
“Both new and used can’t keep up with demand,” Forsythe said. “My job is to locate a boat for my client no matter where.”
Yacht broker Paul Enghauser, a business acquaintance of Forsythe who sells brokerage (used) boats for Crow’s Nest in Newport Beach, also scouts the whole country trying to satisfy customer demands.
“We all figured when the Covid-19 struck, business would stop dead, but it went just the opposite and took off,” Enghauser said. “I could hardly keep up with demand, a lot of them sold at full price — definitely a sellers market.”
Despite the high cost of slip rental in Newport Beach, which range from $750-$1,000 for a 20-foot boat, according to some marinas, there is a waiting list to park your boat. Enghauser said it was even crazier in the summer, with what he calls the “feeding frenzy,” but inventory remains low.
He said finding used boats that fill all the wishes of a given client can be a challenge. Currently Enghauser is looking at a boat in Connecticut for a local customer. “A lot of us [brokers] thought the people who bought boats this year would say,’what have I done’ and want to sell, but so far we’ve not seen yet,” he said.
For Richard Ingold, who grew up in Newport Beach and was raised around boats, there’s no chance of buyer’s remorse. He owns a Grand Banks, 1974 45-foot Grand Alaskan cruiser, purchased from Forsythe. It’s self-contained and has the ability to allow him to be gone for months.
“I go to the boat every day to check on it and to kiss it,” Ingold said.
Ingold said the pandemic has altered his adventures. He now vacations closer to home on his boat. He said he feels grateful that the Newport Harbor is set up as a vacation spot with all the yacht clubs, moorings and slips, many of which are city owned.
“Thank God I have a boat,” Ingold said. “I can stay at the Balboa Yacht Club on my boat and be around some wonderful people, or rent a guest slip at Marina Park or anchor off Lido Island.”
Susan Hoffman is a contributor to Times Community News.
All the latest on Orange County from Orange County.
Get our free TimesOC newsletter.
You may occasionally receive promotional content from the Daily Pilot.
