January 20, 2026

The dictionary definition of luxury often includes “owning a yacht” as an example of luxury. It’s not surprising that TV and magazine advertisements for the Lottery show the “lucky couple” on the deck of their big sailboat, the wind in their hair and the sun shine sparkling across the water. Of course, it’s a very compelling picture and for the modest cost of a Lottery ticket, many people buy in.

But for those of us in the business, affordability is a concern. The new boats are invariably bigger and just think about some of the new features they have. We see incredible audio systems, multiple engines, powered tops and shades all the way up to automated docking systems. Those are great luxury features, but each adds cost. Do some of our most dedicated customers feel priced out? This week Canada’s two biggest boat shows are on; the Toronto and Vancouver Boat Shows and there are some very impressive boats on display. The recent end of the luxury tax is reportedly bringing out customers who had refused to buy when the tax was on.

Most Canadians felt they already paid enough in taxes. It’s a relief to hear that buyers are returning to the market but since September 2022 when the tax was introduced, prices have risen.

I think we are fortunate that the remarkable new developments in boats and systems are so significant. These may justify the new prices to the buyers. However, are Canadian families seeing increases in their disposable incomes to afford such luxuries?

StatsCan reports that the average salary in Canada is $67,000 to $70,000 annually. Just 11% of individual Canadians earn over $100,000 annually and 20-25% of Canadian households reach the $100,000 income level.

That defines the mass market which I think, is where the bulk of our customers are. Our customers still want their boats but I’m concerned about rising prices and also, about customer expectations for new boats and for the luxurious experiences the buyers dream of.

Andy Adams – Editor