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Keep in mind due to material shortages everything is inflated. Steel prices are higher. That up charge for the galvanized trailer is probably in line with today’s steel prices.
I agree. Auto and boat dealers are also under supplied. With low inventory, they have to increase prices on the limited supply of vehicles in order to keep the doors open. Some dealers ended up selling fewer autos or boats this year than in 2020 because there was no supply. They aren’t just licking their chops at the opportunity to gouge you, as some have suggested. If you normally sell 10 boats a month, but only receive 4 because of shortages, you absolutely have to charge more than msrp.
It may burst quicker than we thought,
August's existing-home sales posted a 2% decline from July, the biggest monthly decline since April, according to the National Association of Realtors. Sales last month also slid 1.5% from a year earlier, the first year-over-year decrease since June 2020.
I agree. Auto and boat dealers are also under supplied. With low inventory, they have to increase prices on the limited supply of vehicles in order to keep the doors open. Some dealers ended up selling fewer autos or boats this year than in 2020 because there was no supply. They aren’t just licking their chops at the opportunity to gouge you, as some have suggested. If you normally sell 10 boats a month, but only receive 4 because of shortages, you absolutely have to charge more than msrp.
But, what happens when they start delivering the boats that they have already ordered, and they start getting 12 or 15 a month? Couple this with potentially smaller demand (post-Covid) and some folks stop taking delivery on the boats they ordered. If prices drop back to MSRP, the dealers will still be happy. I think next Summer will be interesting. I think prices will get back more to "normal", but we will have to wait and see.
But, what happens when they start delivering the boats that they have already ordered, and they start getting 12 or 15 a month? Couple this with potentially smaller demand (post-Covid) and some folks stop taking delivery on the boats they ordered. If prices drop back to MSRP, the dealers will still be happy. I think next Summer will be interesting. I think prices will get back more to "normal", but we will have to wait and see.
Most new boats have been pre sold. if you see a new boat at the dealership, their pre-order probably fell threw.
And when we are talking MSRP, we are talking new boats. New boats are sold at MSRP, they are not jacking the price, they are adding on the same things they have for years. Dealer prep, doc fees, delivery etc. In the past, the boats may have been discounted slightly, or boat show prices may have cut the prep fees. But the boats are still sold at MSRP.
Keep in mind due to material shortages everything is inflated. Steel prices are higher. That up charge for the galvanized trailer is probably in line with today’s steel prices.
Most new boats have been pre sold. if you see a new boat at the dealership, their pre-order probably fell threw.
And when we are talking MSRP, we are talking new boats. New boats are sold at MSRP, they are not jacking the price, they are adding on the same things they have for years. Dealer prep, doc fees, delivery etc. In the past, the boats may have been discounted slightly, or boat show prices may have cut the prep fees. But the boats are still sold at MSRP.
I bought my boat $5,000 under MSRP, all inclusive OTD from the dealer. Yamaha offers incentives and kickbacks to the dealers so they can sell them under MSRP if the dealer needs to move inventory, of course in the past. No different than a car dealer and Manufacturer. MSRP is not what the dealer is invoiced for on the boat. The spread between what they sell it for and what they are invoiced for less any Yamaha Promotions they are getting plus the fess they slop on is the dealers revenue.
Most new boats have been pre sold. if you see a new boat at the dealership, their pre-order probably fell threw.
And when we are talking MSRP, we are talking new boats. New boats are sold at MSRP, they are not jacking the price, they are adding on the same things they have for years. Dealer prep, doc fees, delivery etc. In the past, the boats may have been discounted slightly, or boat show prices may have cut the prep fees. But the boats are still sold at MSRP.
I think we all understand MSRP. We also understand that, at least for Yamaha, the MSRP is the NAP. Most of us also understand out the door pricing and this is how we compare boat prices. If someone buys a 40K boat (MSRP) + the dealer has added $7K to the price for dealer prep, then the boat minus taxes and doc fees is $47K. During Covid, there is no doubt that many dealers have jacked up dealer prep fees. As demand lessens, one would suspect that these jacked up dealer prep fees will fall to a more 'normal' level, and out the door prices will once again be closer to MSRP.
I think there is a slight “sell-off” going on this fall, as I decided to go ahead and pick up a used boat now instead of taking my chances next spring.
90% of the sellers I talked with on Marketplace had bought either this spring, or last summer. They all were holding pretty firm at their high ask.
I ended up picking up a 2012 Seadoo 210SE with twin 215’s (100hrs) for $28k. He had bought 5 years ago for $32k (2nd owner). I felt like that was a fair price for two reasons: the unknown of going into another hot spring (I do think this will be the last one though), AND I was able to get a 3.74 rate, which IF we do go into an inflationary period, we wont see rates that low on used boats for a long time.
Those other sellers either DID lower their asking price eventually and sold their boats, OR they are still up on Marketplace, unsold at this time.
So I do believe the market is shrinking some as it seems the fall sell-off right now is the newbie crowd that have come to the realization boating isn’t for them (when asking why they are selling almost all of them said they didnt use it as much as they thought they would).
I dont remember the MSRP of the Yamaha 230’s in 2004, but I was living in FL at the time and I do remember a new one was $30k out the door. Ironic as some people are asking $25k+ now……
As demand lessens, one would suspect that these jacked up dealer prep fees will fall to a more 'normal' level, and out the door prices will once again be closer to MSRP.
Gas being high and inflated prices might be keeping some new buyers away. Some hear how boats suck up fuel and might scare them now that its over 3 bucks a gallon at the pump and way over that on the water
After checking our home build in Delaware we drove over to Maryland over the Bay Bridge. Passed quite a few boat dealers. Although I didn't notice any Yamaha dealers, some of the dealers still had pretty empty lots, which others (especially smaller boats) seemed to have a decent (if smaller than normal) inventory of boats for sale. I noticed that the RV dealers seem to also have more RV's in stock than previously. Hopefully, this is a sign is that things may slower be getting back to normal.
Dealer called me on a 2022 that just delivered. It wasn't the boat I had ordered and was waiting for. They offered it to me because they have had several cancellations from those inline for that model and color. They wanted to see if I would be interested.
As orders come in this winter I think dealers will experience a higher number of cancellations. I could tell they were stressed to get me to move my order to this boat and made several offers which tells me there is not a long line of capable and ready buyers at this time or they would have just moved on to the next on the list. I am purely speculating but will be interesting to watch this play out this winter.
