Have used boat prices peaked?

[biffdotorg]

A lot of used Yamaha's going on the Market it appears. Prices appear to be going down. More on Facebook Marketplace than I have seen in quite some time.

I'm seeing that here as well. First generation 210/230 models in the low $20's again. About time. Many still feel the 24' boats are made of gold though. But with so many hitting the market in the end of summer now, they will drop if folks are serious about selling them and not storing them.

 

[Taylorman]

None of that is surprising as we have steered ourselves into a recession.

Not the purpose of the this thread and I don’t want to hijack but do want to note that this is very much a subjective statement at this point. Most economic data doesn’t support the theory that we’re currently in a recession. There are economic signs, like an inverted yield curve, that indicate we’re heading toward a recession but if/when we get there is still TBD.

 

[Mesa50]

The real estate market has sure slowed to a screeching halt. People offering 10% over asking price isn’t happening much anymore, and I’m actually starting to see 50k price reductions on lake houses that I’ve been eyeballing. Maybe we’ll see a 2008-2012 bubble pop. I’d hate it for our economy, but wouldn’t mind finding a reasonable deal on a lake house.

 

[BlkGS]

Not the purpose of the this thread and I don’t want to hijack but do want to note that this is very much a subjective statement at this point. Most economic data doesn’t support the theory that we’re currently in a recession. There are economic signs, like an inverted yield curve, that indicate we’re heading toward a recession but if/when we get there is still TBD.

This is factually untrue, and while certain groups want to make a recession a subjective statement, it is not. Per the definition of a recession, we had 2 quarters of falling GDP, thus we are in a recession.

The fact that certain groups are trying to cha get the definition out of (in)convenience is pure spin.

 

[Jim_in_Delaware]

I don't think we will see a bubble pop in real estate. IMHO, it's a different market than 2008-20012 when a lot of people bought houses they couldn't afford. Housing demand is down (not in my locale though) as folks find interest rates rising, thereby driving up that monthly payment.

I'm currently on the fence about buying a used boat. While I have seen more used boats for sale, I can get exactly the boat I want with a pre-order and extra covid fees (at least for some brands) seem to have diminished. Planning to seriously start my boat search next month.

Jim

 

[BlkGS]

The real estate market has sure slowed to a screeching halt. People offering 10% over asking price isn’t happening much anymore, and I’m actually starting to see 50k price reductions on lake houses that I’ve been eyeballing. Maybe we’ll see a 2008-2012 bubble pop. I’d hate it for our economy, but wouldn’t mind finding a reasonable deal on a lake house.

I don't think we will see any bubbles pop, more of a massive slowing of demand, that will be heavily localized. Places growing quickly likely won't see the same drops, but places losing people will see massive losses. In general, the better the weather, the better the real estate market there will do.

A lot of price build up is dollar devaluation. A house is still worth a certain amount based on replacement cost respective to the value of a dollar. So if inflation wipes out 20% of the value of a dollar in 2 years, the prices of the houses will go up by that same amount minimum.

Our house has gone up by 75% in 2 years. Part of that is location, we are in qn awesome.location in a fast growing area in a fast growing state. People are fleeing other states for here in record numbers, that's going to bring prices up. But reality is, a portion of that price growth is above what you'd expect for demand and inflation and will go away. But even after the heat is gone, the house will still be worth more because the dollars are worth less.

 

[Mesa50]

This is factually untrue, and while certain groups want to make a recession a subjective statement, it is not. Per the definition of a recession, we had 2 quarters of falling GDP, thus we are in a recession.

The fact that certain groups are trying to cha get the definition out of (in)convenience is pure spin.

Words matter. A certain group has been trying to change definitions, classifications, and meanings for decades. Instead of “The truth” we now have “My truth, and your truth”. We used to call that a delusion.

 

[Jim_in_Delaware]

Let's please keep this discussion on target.

Thanks,

Jim

 

[AZMark]

Lot of boats going up for sale here and our season is far from over. School is starting though.

Dealer I got my boat from just listed my same year and model for 49k, 1k less than I paid exactly three years ago and it has 200+ hours more than mine did. They wouldn’t negotiate a penny when I bought mine so I feel that they’re confident they’ll get it.

 

[Quad]

Its almost the end of summer, people probably are trying to dump them before having to store thru winter.

That said, I've noticed a lot more price drops in real estate too. Seems like new cars are starting to come down in pricing too. I think the spike in interest rates is having a very damaging effect on sales of these things, because very few people have cash anymore.

None of that is surprising as we have steered ourselves into a recession.

Anyone want to rent mine and take it down south for the winter? Might as well earn some cash instead of paying for storage fees

 

[Bluewater272]

I couldn't buy my boat for the same price (or even $10K more) I paid for it 4 years ago... so the market is still hilarious around here.

 

[Taylorman]

This is factually untrue, and while certain groups want to make a recession a subjective statement, it is not. Per the definition of a recession, we had 2 quarters of falling GDP, thus we are in a recession.

The fact that certain groups are trying to cha get the definition out of (in)convenience is pure spin.

Actually the 2 consecutive quarters of falling GDP is considered a general ‘rule of thumb’ and not the objective measurable. It’s also a myopic way to view the economy but to each their own.

 

[Judge]

I have seen used '21 & '22 275SD's going for anywhere from $15K less than the new '22 275SD that I just purchased to $15K more than what I paid!

I'm sure location has a lot to do it with it was well. Florida and other southern states will still be a hot market but I would think northern states will cool off a little as people decide to sell so as not to hold them through the winter months.

 

[JMSGA]

MSRP keeps going up drastically. That makes a big deal.

 

[Ohio]

I'm looking for a 24' to 28' boat, years from 2016 - 2020, but not a jet boat. I have been looking since spring, and I don't see any real price drop in that segment. Hoping to see it next spring, as I would like to get a bigger boat. New boat prices are likely going to stay high due to shortages from supply chain issues. I'm hoping that the normal number of regretful buyers will surface, along with additional boats from Covid buyers, driving down the prices on used boats.

 

[Taylorman]

There is definitely a recession, just the government and media are covering it up....like other truth they hiding from the people .you should understand why America has 50 pentagram on its flag..no they are not stars.

Sounds like you’ve peaked behind the curtain. Now that you have that knowledge how has it benefited you?

 

[Taylorman]

Well first I left the USA, that is a big help and converted the fake paper money the globalist print without end... for gold and Bitcoin cash

Those are bold moves but props for taking action. I’m curious, what country did you choose and do you feel their government is more truthful with their people?

 

[Jim_in_Delaware]

@YamahaBeach, it you want to talk about conspiracy theories please start your own thread on that topic, this one is to talk about used boat prices.

Thanks,

Jim

 

[BlkGS]

Well first I left the USA, that is a big help and converted the fake paper money the globalist print without end... for gold and Bitcoin cash

Bitcoin is like, the worst possible thing to put money into if you're worried about fake money, lol. It literally has no backing, nothing that gives it value except.for the massive amounts of energy wasted by it.

 

[Jim_in_Delaware]

I responded to his question, sad reality makes you nervous especially since reality and Gods word is on your side... if you would only accept it....
Nothing in my post is a theory
Daniel 12:10
"Many shall be purified, and made white, and tried; but the wicked shall do wickedly: and none of the wicked shall understand; but the wise shall understand."
View attachment 185404

Dude, if you want to take a thread down the toilet, start your own thread, you can put it in the General Off Topic sub-forum.

Jim