Hagerty Marine Announces Results of First-Ever Vintage Boat Hobby Survey

 

The first-ever Hagerty Classic Marine Hobby Survey was recently completed by classic boat owners representing over 3,000 vintage vessels with a combined value of more than $94 million.  The questionnaire was developed to discover what owners enjoy most about the classic boating lifestyle, as well as what concerns, motivates and keeps them on board. 

 

“This study proves that classic boat owners are an energetic and enthusiastic group with a true passion for the hobby,” said Carla Gernhofer, Vice President of Hagerty Marine.  “We hope the results of this survey provide insight and a better understanding of the classic boating community as a whole.”

 

The survey was conducted by Avenue ISR, a third-party research company unaffiliated with Hagerty. Participants were recruited through the Antique and Classic Boat Society, the Chris-Craft Club and an online link at woodyboater.com. Hagerty clients were also invited to take part.

Hagerty has reviewed the survey results and compiled the following list of highlights.

 

•           Classic boats rarely sit in showrooms. More than 80% of all classic boat owners put their vessels in the water in 2010, and over 50% had their boats in the water for five months or more – mostly on inland lakes.

 

•           A vast majority of classic boat owners (73%) belong to one or more clubs. In a recent Hagerty-sponsored study focusing on the automobile side of the business, only 50% of classic car owners reported being a member of a club.

 

The most popular classic boating clubs (respondents were asked to report all memberships) are the Antique and Classic Boat Society (70.9%), Chris-Craft Antique Boat Club (26.6%), Century Boat Club (7.1 %) and Lyman Boat Owners Association (2.6%).

 

•           Two-thirds cited one of three reasons for owning their classic boat: visual appeal (“I just like the way these boats look” – 30.8%), personal nostalgia (“It reminds me of/connects me to an important time in my life” – 25.5%) or historical importance (10.6%). Owners don’t use “investment purposes” as a top rationale for purchasing a vintage vessel (0.9%).

 

•           Craigslist and eBay are highly utilized for classic boat purchases.  Craigslist was 2nd on the list at 12.3% while eBay was 5th at 11.7%.  The number one method of purchasing classic boats is direct/word of mouth/private sale at 20.1%. 

 

•           Chris-Craft owners make up 40.2% of classic boats owned – more than the next 10 makes combined. Century is second on the list at 10.2%.

 

•           Many classic boat owners have an affinity for classic cars as well.  More than 35% reported owning at least one classic car.

 

•           Owners feel there is a lack of resources and a major need for a go-to resource center for all things classic boats. Finding parts is a challenge for the vast majority of classic boat owners (83%). 

 

•           The top concern for the classic boat hobby is harmful effects caused by alternative fuels such as ethanol, increased cost of fuel and operating expenses and an aging demographic.

 

•           In a time when many people are adjusting their daily habits due to the struggling economy, more than 60% report that “the economy has had no impact” on their classic boating behavior.

 

•           A large number of classic boat owners use their trailer for storage (34.5%) as opposed to housing it in a marina (23.8%).

 

Hagerty Canada, LLC, offers insurance in Canada for qualifying classic and wooden boats. For more information, visit www.hagerty.ca/marine.