There are three main issues driving up the cost of new boats. That, in turn, is driving up the cost of used ones.
First, supply chain issues remain a huge problem for pretty well every boat builder on the planet. Semiconductors, aluminum, plywood, stainless steel, resin, gelcoat, foam for seat cushions, and a whole bunch of other parts and pieces remain in tight supply. As a result, the cost of components and raw materials has skyrocketed.
Shipping costs have also increased massively. The cost to ship a container of parts here from China is now 10x what it cost in 2019. Part of that is higher fuel costs, part of it is higher demand, and a big part of it is extra safety protocols to satisfy covid measures in ports, which are all government controlled.
Finally, demand for boats since 2020 has gone through the roof. Dealers have very little inventory, pretty well all boat builders sold out their entire 2022 production runs long ago, and most of them are now well into 2023 meaning if you buy your boat today, it will be some time next summer before you see it. No one wants to wait, so that is driving up the cost of used boats.
I don't see prices coming down. The reality is that we're going to see a lot of new, wealthy buyers coming into the market over the next several years as aging baby boomers die off and leave their assets to their kids. In the US, they're expecting millennials to inherit more than US$68 trillion from their baby boomer parents over the next 20 years. Canada's economy is around 1/10th of the US, so reasonable to think that here we're talking about $6.8 trillion changing hands over the same period. Even if only a fraction of these suddenly wealthy millennials become boat buyers, it's still going to be a huge number, and that will hold prices high.