Status of boat market

[Michal]

Every so often we see a thread about the current status of the market. Seems like it changes based on so many factors month to month. Wanted to share a video with you all that I found pretty interesting. Fair warning it is a bit long.

 

[Jim_in_Delaware]

Scanned through the video the other day. I seem to remember the data showed the jet boat sales were better than most other groups.

I drove past the boat dealers near Annapolis, yesterday, and there were more boats on the lots than I’ve seen in a long time. A number of boat trailers as well.

I priced out a new sailboat trailer from Triad and the current lead time is 6 - 8 weeks. Seems things are beginning to normalize.

Jim

 

[FSH 210 Sport]

That’s a darn good video.. its very comprehensive and for the most part recognizes the forcers of the price increases in the raw materials and finished products. Yeah its long, but that’s what it takes to tell the story correctly.

 

[Sotally Tober]

I actually watched this a few days ago. Very good breakdown.

I just recently sold my 2019 242SE. Was gone in 12 days with a line 4 deep and received asking price... no haggling. Not sure if my case was an anomaly but I was expecting the boat to be on the market for months or at least until Spring hit. I definitely underestimated the current market. Probably could have asked more for the boat as well.

 

[HangOutdoors]

Prices are coming down on used around here still and there is more used inventory. Dealers are getting Yamaha's in and they are sticking around longer. Been to 3 boat shows this year and all had Yamaha's in stock to purchase and be delivered.

 

[Michal]

I actually watched this a few days ago. Very good breakdown.

I just recently sold my 2019 242SE. Was gone in 12 days with a line 4 deep and received asking price... no haggling. Not sure if my case was an anomaly but I was expecting the boat to be on the market for months or at least until Spring hit. I definitely underestimated the current market. Probably could have asked more for the boat as well.

That's awesome!

 

[Michal]

I hope that in general the economists are wrong in some ways and the economy is starting to turn around and normalize. Want to be optimistic, but preparing for the worst.

 

[FSH 210 Sport]

Another interesting vid

https://boattest.com/article/2023-good-time-buy-boat?utm_medium=email&_hsmi=244953292&_hsenc=p2ANqtz-_4zuRpdb6w3EkttnNmDNDxzOU9scjKPTGkK76vLYaapboawmIP47USxrO5EKKN5pxrn76k9YJ4yQETdrBVs4UOo-MIhQ&utm_content=244953292&utm_source=hs_email

 

[Farny]

I actually watched this a few days ago. Very good breakdown.

I just recently sold my 2019 242SE. Was gone in 12 days with a line 4 deep and received asking price... no haggling. Not sure if my case was an anomaly but I was expecting the boat to be on the market for months or at least until Spring hit. I definitely underestimated the current market. Probably could have asked more for the boat as well.

No brainer for the buyer - they got a boat to go with the stripper pole they bought

 

[Jim_in_Delaware]

Another interesting vid

https://boattest.com/article/2023-good-time-buy-boat?utm_medium=email&_hsmi=244953292&_hsenc=p2ANqtz-_4zuRpdb6w3EkttnNmDNDxzOU9scjKPTGkK76vLYaapboawmIP47USxrO5EKKN5pxrn76k9YJ4yQETdrBVs4UOo-MIhQ&utm_content=244953292&utm_source=hs_email

Good video. I've watched a number of the Len's Cove videos in the past and have found them to be informative.

One observation, however, is that a salesman will ALWAYS tell you its a good time to buy. Real estate adds are a prime example. The Realtor ads will always push the sales of a new home regardless of the economy and if prices are up or down, or mortgage rates are high or low. If folks aren't buying, they aren't making any money.

Jim

 

[FSH 210 Sport]

Good video. I've watched a number of the Len's Cove videos in the past and have found them to be informative.

One observation, however, is that a salesman will ALWAYS tell you its a good time to buy. Real estate adds are a prime example. The Realtor ads will always push the sales of a new home regardless of the economy and if prices are up or down, or mortgage rates are high or low. If folks aren't buying, they aren't making any money.

Jim

Agreed! He’d be a poor salesman otherwise.. but, he does make a good point, waiting another year is just one more year you wouldn’t have a boat and making great memories on the water.

 

[FSH 210 Sport]

Was at the local outdoor show yesterday… plenty of fishing boats and wake boats.. Yamaha’s are pretty scarce around these parts. Even the outboard engines, but have seen a few of the outboard engines with their owners swearing by them and swearing off Merc’s. I’ve seen a couple older bow riders.

Okay To the show.

Talked with a salesman from one of the dealers in a nearby community and he said they have 200 boats on their lot with more new boats on the way. He also said he is seeing more and more covid bought boats coming up for sale on his lot as consignment, not trade ins.

I asked him if thought that over the next year the used boat market would become more saturated with covid bought boats, if the price of new and used boats would be coming down as a result of increased inventory and higher interest rates, and inflation, his response? Absolutely. He went to say that most of the engine manufacturers had caught up, so outboards now are available more or less like they were before, not a 1-2 year wait.




This last Ranger boat is a pretty decent deal… totally set up with two Lowrance MFD’s, lithium trolling motor batteries, and an I pilot equipped Ulterra.. still a lot of coin, but a nice fishing / family fun boat.