Have used boat prices peaked?

[biffdotorg]

Yeah Ive seen some fair deals and they are still not selling. I know the sx190 is not super popular but I personally looked at this one and its super clean. Its been for sale for 2 months. at a dealer you are going to be $36k plus and shipping and prep fees.

2021 Yamaha SX 190 - boats - by owner - marine sale

2021 Yamaha Boats SX190 Excellent condition- 2021 SX190 with Bimini top and cover, just de-winterized, runs great, low hours. Easy to own, easy to love. Innovative features and design at an...

eugene.craigslist.org

The facebook group posts of 2012 SX190's asking $26K just make me laugh out loud. I remember when 2012's were selling for $13K as everyone wanted an AR, and they were asking $14K. 19' boats should not be asking more than $20k this time of year. Hey, if they get it, more power to them. I think they will die with them.

 

[BlkGS]

The facebook group posts of 2012 SX190's asking $26K just make me laugh out loud. I remember when 2012's were selling for $13K as everyone wanted an AR, and they were asking $14K. 19' boats should not be asking more than $20k this time of year. Hey, if they get it, more power to them. I think they will die with them.

I don't think we will ever see the prices we used to because of the massive inflation we have seen the past few years. Prices will go down and cool off some... but not back to where they were. Those days are behind us, just as the days of buying a new 69 stingray for 7000 bucks are gone.

 

[HangOutdoors]

You know what makes me laugh? When you see a post on Facebook that starts off by saying "I am thinking about selling my boat, what do you think?" And then they post their boat for $10k-$20k on a used boat over current MSRP and count the full value of all their upgrades..... Kind of like kicking the can around.

 

[Jim_in_Delaware]

You know what makes me laugh? When you see a post on Facebook that starts off by saying "I am thinking about selling my boat, what do you think?" And then they post their boat for $10k-$20k on a used boat over current MSRP and count the full value of all their upgrades..... Kind of like kicking the can around.

LOL, it's like when they put a 15K engine in a 20K boat and now think there boat is worth 35K! ?

Jim

 

[adrianp89]

You know what makes me laugh? When you see a post on Facebook that starts off by saying "I am thinking about selling my boat, what do you think?" And then they post their boat for $10k-$20k on a used boat over current MSRP and count the full value of all their upgrades..... Kind of like kicking the can around.

Just wait until these people lose their jobs and need to start cutting costs.

 

[BlkGS]

Just wait until these people lose their jobs and need to start cutting costs.

Between the inflation and the inevitable downturn, ships gonna get real bad I'm afraid...

 

[Ohio]

According to BoatTest.com

2022 Used Boat Prices Fall 18%

Boats Group, the owner of Yacht World and a couple of other classified boat sites, said recently that unit sales for the period of May and June 2022 were down 17% and average boat prices were down 18% vs. the same period in 2021. The report said that the average price for the period was $174,594 for the boats it tracks.

 

[BlkGS]

According to BoatTest.com

2022 Used Boat Prices Fall 18%

Boats Group, the owner of Yacht World and a couple of other classified boat sites, said recently that unit sales for the period of May and June 2022 were down 17% and average boat prices were down 18% vs. the same period in 2021. The report said that the average price for the period was $174,594 for the boats it tracks.

While it's a data point, I dunno that prices for boats averaging 175k have much in relation to boats that are 25 to 50k, lol.

 

[Neutron]

Even with these new Yamaha boats and prices, if its similar to the past 2 years then it will still be hard to get the boat you want. Or make you wait 6 months to a year to get it, that will drive the used boat market up again.
The new boat inventory still sucks and dont see production getting to the level it was in 2019 any time soon. Still tons of parts on intergalactic backorder holding things up

 

[Ohio]

While it's a data point, I dunno that prices for boats averaging 175k have much in relation to boats that are 25 to 50k, lol.

Well the prices for the range you offered were in fact part of that average. But yeah, more useful data would be broken down into more useful groupings. And anecdotally speaking, I can't say I have seen any reduction in the price range that I have been looking.

 

[BlkGS]

Even with these new Yamaha boats and prices, if its similar to the past 2 years then it will still be hard to get the boat you want. Or make you wait 6 months to a year to get it, that will drive the used boat market up again.
The new boat inventory still sucks and dont see production getting to the level it was in 2019 any time soon. Still tons of parts on intergalactic backorder holding things up

Honestly I think this is the new normal we are settling into. Companies aren't able/willing to pay the money required by inflation and so they just are OK with running short staffed. Their customers have grown accepting of delivery schedules being measured in eons.

My company for instance probably has more openings than filled positions. They claim.to be offering "stupid money" to bring people in, which is terrible for.employee morale and retention by the way, because they didn't do anything for us, but they can't find anyone with the extreme levels of experience they want.

 

[HangOutdoors]

WOW, look at this one. Price is AWESOME. If you want an AR250 you need to look at this.

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[Cambo]

Prices are dropping my thought on what’s happening is that nada follows boat trader for boat listing prices. These prices are inflated causing sellers to post higher unrealistic prices based on info listed on nada. With adds that are free on Facebook owners will also just throw up for sale but again unrealistic . Craig’s list was free now they charge a small fee this has completely eliminated all the fake adds they should have done this years ago. But now the inventory is high and you can see owners dropping price

 

[Epsmith19]

Prices are dropping my thought on what’s happening is that nada follows boat trader for boat listing prices. These prices are inflated causing sellers to post higher unrealistic prices based on info listed on nada. With adds that are free on Facebook owners will also just throw up for sale but again unrealistic . Craig’s list was free now they charge a small fee this has completely eliminated all the fake adds they should have done this years ago. But now the inventory is high and you can see owners dropping price

Didnt know that craigs list now charges

 

[the MfM]

Didnt know that craigs list now charges

Only for some categories in some markets.

 

[biffdotorg]

Prices are dropping my thought on what’s happening is that nada follows boat trader for boat listing prices. These prices are inflated causing sellers to post higher unrealistic prices based on info listed on nada. With adds that are free on Facebook owners will also just throw up for sale but again unrealistic . Craig’s list was free now they charge a small fee this has completely eliminated all the fake adds they should have done this years ago. But now the inventory is high and you can see owners dropping price

This is partially incorrect. NADA is based on actual closing prices, based on the region punched into the tool by zipcode. Yes, there may be some delay, but as COVID hit and the market went up, it went up with it.

That being said, basing any value on asking prices is insane. As every seller has the right to ask what they want, and they do. But NADA was based on actually closing prices. In our region, asking prices are actually dropping, but then again, so are the temps. I woke up to 45 degrees today!

 

[BlkGS]

This is partially incorrect. NADA is based on actual closing prices, based on the region punched into the tool by zipcode. Yes, there may be some delay, but as COVID hit and the market went up, it went up with it.

That being said, basing any value on asking prices is insane. As every seller has the right to ask what they want, and they do. But NADA was based on actually closing prices. In our region, asking prices are actually dropping, but then again, so are the temps. I woke up to 45 degrees today!

And how do you think NADA even gets this information? They send out DMs to sellers on Facebook?

Reality is, all these values are largely based on formulas. There may be some "we base it off transaction prices as well", but the vast majority is it is based off formulas that predict the values.

 

[biffdotorg]

And how do you think NADA even gets this information? They send out DMs to sellers on Facebook?

Reality is, all these values are largely based on formulas. There may be some "we base it off transaction prices as well", but the vast majority is it is based off formulas that predict the values.

Because it's not based on private party sales, except in states where vehicle registrations are public record. For example, in my state, it wouldn't matter at all, as If I buy a used boat, I don't have to pay tax on it, so there is no way to know. It's based on collected tax. That's through dealerships in most states, or private sales where the info is public record.

I'm sure that is special sauce NADA keeps close to the vest, but they have also shared enough of this information to add credibility to their information. It's funny, as the guy who profits from their info will bet the bible on it, and the guy who does not, questions the credibility.

 

[HangOutdoors]

Things are coming down in price. They are popping up here and there.

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[Cambo]

The boat prices are dropping looking for a boat for my brother and there are about 60 in my radius of a possible road trip and price point. Almost half of them have dropped the price by a few thousand but still have not sold most have been up for 1 to 2 months and only one that I know of sold. Lots of inventory and nothing is moving there must be 50 on this site with 2 marked as sold. I think the nada value listing is way off and just not realistic to what someone will pay.

This boat topped the list for complete abuse and neglect