Thread by @latimes

Before COVID-19, it was typical for yacht broker Trenton Carroll to have up to $10 million worth of inventory at any given time.

Now he rarely has anything in stock.

@byandreachang reports on the booming demand for yachts: latimes.com/business/story…

“We can’t get boats fast enough,” said Carroll, who has been in the business for two decades.

“I’ve got boats sold out to 2023...people are willing to wait because they know there’s nothing else around.” latimes.com/business/story…

When the first wave of COVID-19 lockdowns went into effect, the yacht business tanked for a few weeks but quickly rebounded as Americans turned to all manner of outdoor activities to pass the time. latimes.com/business/story…

Another factor? The stock market rebound disproportionately benefited those with huge reserves of money.

Now, many are rushing to buy boats.

“The filthy rich got filthier richer,” one yacht broker said. latimes.com/business/story…

Many of the same factors that led to runs on houses, cars and luxury retail goods during the pandemic are also at play.

Yacht availability is being constrained by supply chain disruptions for boat-building materials including fiberglass and resin. latimes.com/business/story…

The number of new boats sold in the U.S. hit a 13-year high in 2020, up 13% to nearly 320,000 vessels compared with the year before, according to the National Marine Manufacturers Assn. latimes.com/business/story…

The new crop of boat owners skews younger, and some prefer to keep their fancy toys close to shore.

“They’ll have friends on the dock...they’ll sit around and brag about how great they are and how they’re legends in their own mind,” one broker said. latimes.com/business/story…

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