Boat Pricing Forecast 2023 by boat test

[FSH 210 Sport]

Here’s the link to the article.

https://boattest.com/article/where-are-new-boat-prices-going-2023?utm_medium=email&_hsmi=242553492&_hsenc=p2ANqtz-90WOIRNtQ-Elo9ilntH95Qoj-G9wf5EbP-f7PqSh20fKKKUO-EmQ_6YxtFJFI6LfJilSVCdaEEsKjDD5nlBZ6HE2Vfsg&utm_content=242553492&utm_source=hs_email

Other than the glaring omission of the main cause of oil pricing rise in the U.S. and laying oil pricing rise solely at the feet of the Russian instigated war in the Ukraine it’s not a bad article. If Russian oil goes off line, forecasters think oil will go to $200-$285 a barrel.

There are several geo political analysts that think the global trade system is going the way of the DoDo bird… party like its 1999 baby!!

A friend of mine texted me yesterday from a boat show in So Cal…. If you thought $3000 freight charges were high.


I’m sticking with my original prediction that the bottom of the used boat market is going to drop out, this is already happening in the used car / light truck market. Sadly a lot of people are going to have to choose between buying food, staying warm or cool, and driving to work or keep paying for a boat that they cannot afford to put fuel in. I also think, that like the RV market boom which has turned around now and there is a huge inventory of used RV’s, so too will all the panic buying of boats over the last couple of years result in a large inventory of boats as people return to their annual trip to sandals in Cancun.

 

[Sidarousmg]

I agree that boat prices peaked last summer, BUT....I think there is still enough demand from people who didn't buy during the past couple of years that will prevent the prices from spiraling downward too much. not to mention, the first time boat owners who over paid for boats during COVID may be too "under-water" on their loans to be able to sell at "normal" non-inflated prices. of course, I hope I'm wrong, since I sold my boat last summer and have been anxiously waiting for prices to come down so that I can buy the next boat.

 

[Jim_in_Delaware]

The article that you linked was an interesting read.

Personally, I don’t see Russian oil going off-line, as there will always be a market for cheaper oil, namely China and India.

You are spot-on about the RV market. I’ve been watching new/used travel trailers, and there are currently some great prices on 2 and 3 year old RV’s. I though about buying one, but the wife always dreamed of an extended trip to Europe, so that is what we are doing.

Jim

 

[FSH 210 Sport]

Currently Russia is having to work around he insurance issue since none of the rest of the world will insure them. And the insurance is required to navigate most waters. So Russia has self insured, the loss of one ship will break them.

Also, Russia s currently having to use small tankers to transfer the oil from the docks out to several super tankers that are rafted up in the ocean. That is precarious at best. Its not about who will buy the oil per se’ it’s getting it there.

I hope there won’t be a disruption..

 

[GTBRMC]

I like Boat Test a lot, read it at least weekly, if not more often. However, always remember they play in the advertorial space. In other words, the bulk of their revenue comes from manufacturers. That definitely colors their perspective at times.

 

[FSH 210 Sport]

I like Boat Test a lot, read it at least weekly, if not more often. However, always remember they play in the advertorial space. In other words, the bulk of their revenue comes from manufacturers. That definitely colors their perspective at times.

Agreed! Along with some of their other view points.

It was Capt Steve’s review that helped me make the decision on my boat. I was unsure about the CC thing, but after watching that I was sold, basically bought my boat sight unseen.

https://boattest.com/boats/yamaha/210-fsh-sport-2019

 

[mycall9523]

So does the mindset still hold on used boat prices... on the fence for a used Yamaha jet boat. My thought is prices are about to come down (as referenced) back to exotic vacations like Cancun vs local lake. However, I can see others in my place ready to buy which will not reduce as much as I expect.

 

[Jim_in_Delaware]

My opinion is that given the amount of used inventory currently for sale, used Yamaha’s are still priced too high (although I have seen some decent pricing on a couple AR240’s). I would guess that even more used boats will come on the market in the next couple of weeks as folks make the decision to sell now or carry the boat to the spring. As 2024 prices for most boats are in-line with 2023 pricing and the availability of new boats rises, I think this will decrease the value of newer used boats.

Jim

 

[BigN8]

All I gained from that article is, it sucks to work in a boat factory, cause you could be out of a job at anytime, and this was a fluff piece to push people on the fence over the edge to buy a new boat buy using the whole "what is a season or 2 missing out on fun on the water worth". They failed to mention the biggest concern right now in the economy and that is the amount of savings people have compared to coming out of the recession. Savings have dwindled, credit card balances are at an all time high, so the music is not only slowing but getting ready to stop. The smart buyer would hold his powder and buy used, never new!!

 

[drober30]

Oil prices.... LOL... they can pick any reason out of a hat.

The best deals on used boats/RVs will always come from those desperate to sell, thats were someone can get a great deal.

The market has shifted, dealers have left over 2023 boats they are trying to sell, that is a shift from the last few years where inventory was non existent. It seems the days of massive fees and surcharges are gone for now, except when it's already built into the price... 2024 252SD

For those not desperate to sell, the increase in MSRP each year helps the used market some.

Being in Michigan, it's staggering the amount of boats that are owned and just how many are big $$$ cabin cruisers!

 

[jocolo21]

People are gonna buy what they are gonna buy regarless

 

[jocolo21]

Hold on to your boats , price might go back up as new mandates might come into effect, my copilot mentioned it yesterday today ive seen to articles about it.

 

[jocolo21]

https://www.google.com/url?sa=t&sou...4QFnoECBIQAQ&usg=AOvVaw2BV7U0mOmoyK-gwJm9vyPw

[/URL]

 

[Jim_in_Delaware]

https://www.google.com/url?sa=t&sou...4QFnoECBIQAQ&usg=AOvVaw2BV7U0mOmoyK-gwJm9vyPw

[/URL]

Link doesn’t work. What mandates are you talking about?

Jim

 

[jocolo21]

Link doesn’t work. What mandates are you talking about?

Jim

yes new mandate for mask an covig 19