The Boat Market Bubble is bursting...

[Jim_in_Delaware]

There seems to be some reasonably priced boats on Facebook Marketplace.

Locally, there is a 2020 195 FSH Sport, with an aluminum trailer and only 27 hours, posted for sale for 35K.

Jim

 

[HangOutdoors]

Some on FB Marketplace are a bit high, some are decent and then you can walk into a winner. I will take 2 please, if I could figure out which model it is..... either way still will take 2 at that price

(5) Marketplace - 2022 Yamaha 255XD | Facebook

 

[suke]

Clean out plugs blew out flooded the boat. Bilge pump was junk. Installed a new float activated already. I have not pulled the motor down but it is seized.

You not pull the plugs and try and turn it over? Did you hydrolock it?

 

[Guy in a Boat]

You not pull the plugs and try and turn it over? Did you hydrolock it?

Yes I did all of that, yes it hydrolocked, from the sound it broke a rod or something big.

 

[Drift Away]

I had bought the wooded 1.25 acre lot next to my property for only 20 grand a few years ago and it was on the market for years. In the past few months i have been approached multiple times with offers from 50 to 60 grand. I will never sell my property, its my forever home and i love it. I am into my house and all the 2.5 acres for only 217k since 2016 and its now worth over 350k. I am still working on purchasing another acre on the other side of my property.

Nice lots are hard to find around here. Houses for sale here with 1/4 acre lots are selling in a few days at stupid inflated prices.

I loved living in New Bern. I was stationed there in the Army from 2013-2016. Still got some good friends in Trend Woods and Pollocksville. They own Parker farms out there. I loved the Trent river but never knew how brown that water was until i got here to Tampa.

 

[biffdotorg]

Some on FB Marketplace are a bit high, some are decent and then you can walk into a winner. I will take 2 please, if I could figure out which model it is..... either way still will take 2 at that price

(5) Marketplace - 2022 Yamaha 255XD | Facebook

That is a total bait and switch ad from a dealer. I say bait and switch, as they do not know pricing, colors or details and are just offering up pre order spaces in line with a deposit. Polaris dealers are doing this as well prior to their dealer show on 2022 ATV/SXS.

They are selling you a place in line to place your order. Some dealers are "Guessing" on pricing and colors, as they do not know and anything they say is 100% speculation until the dealer show. Some may actually add 10% and say it's the number knowing they won't get themselves in too much trouble.

 

[HangOutdoors]

@biffdotorg I know. Found the add very humorous Still I would take two either model at that price

 

[biffdotorg]

@biffdotorg I know. Found the add very humorous Still I would take two either model at that price

Amen, very attractive for sure. It gets your attention!

 

[DRAT]

I wish the Californians would stop moving to TX and screwing our market up here. I talked to a CA lady yesterday that paid $50k over for a house she never saw. Just her friend walking around inside as she Facetime'd her. Freakin insane. Then she goes on to tell me her parents just moved here, her sister moved here, and 5 of her friends all moved here from CA within the last 6 Months. That's 8 family units just from talking to one freakin person.

but those new arrivals, wherever they come from, make our economy COOK. DFW is the fastest-growing metro area in the US by far, with 3 of the top 6 fastest-growing counties (dallas, collin, tarrant) in the last census. i know it bugs a lot of longtime residents, but the net result is a market where anyone can succeed. i'm in the flooring business and believe me, if i can make it, anyone can, LOL!!

 

[HangOutdoors]

Wow, boats are being listed on FB Marketplace and Craigs List around here at warp speed. I can tell you at some of the prices they won't be sold at all, especially when they say
"44k firm we owe on it for a 195."
Reason it’s that high is because we did not have to put a down payment on it ."

Some posts look like they smell the writing on the wall and are pricing them more reasonably.

 

[biffdotorg]

I’m seeing plenty that have already been marked down $10K. The dose of reality hit them in the face like a brick wall.. HA!

 

[zipper]

Well this guy does not think so...60mph? LOL.

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[Neutron]

Well this guy does not think so...60mph? LOL.

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And selling an AR without a tower. What a dreamer

 

[Guy in a Boat]

but those new arrivals, wherever they come from, make our economy COOK. DFW is the fastest-growing metro area in the US by far, with 3 of the top 6 fastest-growing counties (dallas, collin, tarrant) in the last census. i know it bugs a lot of longtime residents, but the net result is a market where anyone can succeed. i'm in the flooring business and believe me, if i can make it, anyone can, LOL!!

I graduated from Prosper twenty years ago. Back when it was 1800 population.

 

[biffdotorg]

Well this guy does not think so...60mph? LOL.

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That ad has all sorts of red flags. The interior has been either photoshopped or changed, as the bow seats are stained and the rear seats look painted white. And the side graphics were on with the tower, then off, then on again when the tower was off. The stock photo of the overhead layout is for a newer 230 when they changed them. As the 2005 had deeper swimdeck seats than the overhead view. It just screams scam. Anyone driving any distance is going to be disappointed with that ratted out $17K boat.

 

[zipper]

Well this guy does not think so...60mph? LOL.

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The guy took the ad down after I commented that "there is no way that boat will get anywhere close to 60mph" My avatar on facebook is a picture of our AR230. Obviously a scam.

 

[biffdotorg]

You know the market bubble is starting to burst when the first time Yamaha owners are getting desperate.

I shouldn't say that, as these guys pop up in almost every Yamaha wanted ad. Someone posts, "I'm looking for a 21-24' Yamaha boat near xxx" and the lowly guy in Southern Florida chimes in, "I have an SX190 for sale" Even better, if they say they have an SX190, it's a first year model, and they are asking more than what a good used 242 is worth. And I scroll on, like a well mannered troll (unless it's 11pm and I have a couple Morgan's in me)

 

[BlkGS]

Funny how a few weeks cha ges things huh?

A few weeks ago people thought we were nearly out. I think at this point most would agree we are headed for an about face on the easing of restrictions due to delta. We are seeing the signs of extreme inflation to come. We are seeing a ton of supply shortages across multiple industries getting worse, not better.

I think by the time all the dust settles, this "bubble" won't burst, it will just be the rough price equivalence due to material price increases and the weakening of the dollars value.

 

[HangOutdoors]

As inflation sets in it will be harder for a lot of people who bought boats and rec. vehicles, etc. to pay for them since other things need to come first, or at the very least justify paying for them as well as the increasing gas cost, storage, insurance, etc.. Get rid of the payment and possibly get some of the equity back. Those to the market first will of course get higher sales prices. It will start a sell off over time, how big and how quick are yet to be seen.

 

[BlkGS]

As inflation sets in it will be harder for a lot of people who bought boats and rec. vehicles, etc. to pay for them since other things need to come first, or at the very least justify paying for them as well as the increasing gas cost, storage, insurance, etc.. Get rid of the payment and possibly get some of the equity back. Those to the market first will of course get higher sales prices. It will start a sell off over time, how big and how quick are yet to be seen.

I dunno. As inflation sets in the prices of used boats and RVs become more appealing as new things cost more and more and more. It's not like these were over produced and so there will not be a huge excess supply of them.

If the demand and supply stay pretty close because people want to be doing outside activities vs traveling and going on vacations and production is slow and expensive, then prices won't fall, they may even rise with inflation as the underlying value is still there.

It's worth remembering that there's a lot of people making a lot of money in the stock market, working remotely, etc, and so there is still money in the economy. If that money starts to dry up, that's when the inflation is going to become a real issue.