Used Boat Market

[BigN8]

When I was down in Kemah, TX for my sailing lesson I was amazed at how big the Marinas are down there. My instructor told me that the area is the 3rd largest sailing community on North America. I made a comment about how many boats seem to just be sitting there and he said you have no idea. It's crazy how many thousands of large sailboats just sit in the marina and never go out. It has me weighing the option of buying a membership to his sailing club. I was messaging @zipper on the side about the value. In order to have access to a 40' brand new sailing Yacht monthly it might not be a bad idea right now.

 

[drewkaree]

Been watching used truck prices as well. They're definitely on the downswing, much closer to what I would expect to see. Haven't seen an MSRP+ used truck in awhile now. Most are getting acceptable pricing for clean used examples.

Doesn't help my trade value though

That trade-in value is what's keeping me from jumping at a 24'. I own mine free and clear, but I've come to the conclusion that I'm perfectly happy with 3' less, both in cost of use, and less people to deal with on the boat. If I had sold last year (which would have been perfect, life-wise) and was boatless, I still might not have moved up beyond a newer 22'.

The best would have been buying the exact same thing for $5k less this year, and putting that savings into materials for more pier space

 

[Jim_in_Delaware]

And how are the prices?

I’ve also seen a boatload (sorry ?) of Yamaha’s listed for sale. I’ve seen some really good offers on AR240/250’s, but not much movement in price on the 19’s recently (despite the fact there are lot of them listed for sale.

My wild guess is that more people may be underwater on the boat loans on the smaller boats, especially since zero down financing was possible.

I bought a sailboat (cash purchase) yesterday and will probably wait another year to get my jet boat.

Jim

 

[2kwik4u]

I have been out now 4 times this year now. Hopefully will go out this weekend but for sure next week to do some more fishing. I don't have a problem with it sitting, knowing it is there for me to use at any time. Of course my purchase point was low and payment on it is in the low $200's., which I can spend on a dinner easily with family and their friends. If I had one of those high loan amounts and payment that was a lot more I may consider differently, some do whom bought and premium pricing and larger/nicer boats.

Also having it sit in my drive forces me to think about going out and relaxing. If it wasn't there I am sure I could spend more time doing things like working, etc, which would create an unbalance.

We're having a "low use year" as well. Reason we sold the camper. I think we've had hte boat out like 10times or something. We're in a similar position though, the payment and insurance is low (we're under $400/mo combined) and it sits in the garage, so I have to look at it every day and it encourages us to use it.

We also love the 190 for the ease and simplicity and low cost of operation. A full weekend of fuel is under $100 for the boat, and about that for the tow vehicle. We tend to eat out less on the boat so food bill goes down a little. Even the grumpiest of kid when we leave the house it turned into smiles and giggles once we're on the water.

We too will be boat owners for life at this point!

 

[Jim_in_Delaware]

When I was down in Kemah, TX for my sailing lesson I was amazed at how big the Marinas are down there. My instructor told me that the area is the 3rd largest sailing community on North America. I made a comment about how many boats seem to just be sitting there and he said you have no idea. It's crazy how many thousands of large sailboats just sit in the marina and never go out. It has me weighing the option of buying a membership to his sailing club. I was messaging @zipper on the side about the value. In order to have access to a 40' brand new sailing Yacht monthly it might not be a bad idea right now.

Galveston Bay is a great place for boating! I took my ASA 101 course there many years ago, on Clear Lake). One could reasonably be on the water 9 months of the year. ?

 

[johhnyboat]

I still see prices for boats across the board still inflated by 25% and not just Jet Boats. Maybe when these glut of boats don't sell for what they are asking they will start dropping.
Happy I purchased my boat when I did and paid cash. I love this little boat.

 

[bubbasuwannee]

I'm seeing quite the drop in used prices and dealers sitting on boats. Plenty of availability, unlike last year or the year prior. The economy is definitely feeling the grip of inflation and things seem to be slowing for the most part. I do live in a weird area though in regards to home prices due to the still never ending influx of folks coming here from other areas.

I'm considering a new position within my company that would require a move to an area with much lower median household income and houses sitting on the market longer. I would have to sell my house here, which isn't an issue at all, but purchasing a home in an area that's so much slower causes me worry. Even with a bump up in pay, I'll be spending more for a home, pay more interest as well as insurance. Truly makes me want to stay where I'm at since it seems more secure. Not to mention employment in that area for my wife might be a challenge.

 

[anmut]

I can verify that used car prices are coming back in line with my expectations - $1/mile for what I'm looking for, it's between $1.25-1.50/mile, where it used to be $2+

I've never read that formula for used cars, can you elaborate? $1 per mile on the vehicle?

 

[anmut]

Many boats, campers, SxS's, snowmobiles, etc available. I still see two issues:

1) Prices aren't in line with inventory yet. Reductions are happening, but they seem to be fairly shallow. The reductions seem very "I guess we have to" both in the private party and dealership model.
2) I'm not a buyer of anything made post-covid even if the prices are at or below 2019 prices. I'll wait for a 2024 model, new or used. Too many issues during the last few years for nearly any make or model in any powersport.

 

[YoDaddy292]

That trade-in value is what's keeping me from jumping at a 24'. I own mine free and clear, but I've come to the conclusion that I'm perfectly happy with 3' less, both in cost of use, and less people to deal with on the boat. If I had sold last year (which would have been perfect, life-wise) and was boatless, I still might not have moved up beyond a newer 22'.

The best would have been buying the exact same thing for $5k less this year, and putting that savings into materials for more pier space

S'funny.......this is the exact realization I just came to. Our boat is nearly paid off and I was really getting the itch for a 250 then it hit me that I really DON'T want more people on the boat and the only nagging issues were fixed with my Ridesteady.

 

[anmut]

S'funny.......this is the exact realization I just came to. Our boat is nearly paid off and I was really getting the itch for a 250 then it hit me that I really DON'T want more people on the boat and the only nagging issues were fixed with my Ridesteady.

I was on a buddy's 242X a few weeks ago and we were trying to wakesurf. He's got the built-in Yamaha speed control in the "e-series." Wtaf is up with that junk?! No on the fly adjustments to speed, you have to put the boat in N to even change the set speed, then save it, then go back to surfing...

My non "X" boat with RideSteady is soooo much better and easier to dial in any wave I want for watersports. For surfing I'll fill up ballast, add the shaper, and then before anyone jumps in the water, do a test run and optimize the wave on the fly. Then when the rider's out on the board I'm still tweaking depending on their weight and style.

 

[BigAbe75]

I was on a buddy's 242X a few weeks ago and we were trying to wakesurf. He's got the built-in Yamaha speed control in the "e-series." Wtaf is up with that junk?! No on the fly adjustments to speed, you have to put the boat in N to even change the set speed, then save it, then go back to surfing...

True - Ridesteady is way better, but that’s not right. You can definitely adjust on the fly. Hit the no wake up/down arrows and it will adjust the set speed by .1.

Also, get the phone out and load a gps speedometer. On my 242x, when surfing the set speed is about 13 something. But gps actually shows a speed of 10.7 or whatever.

So, I use the phone to see the speed and use the up/down arrows to adjust.

 

[drober30]

100% more used boats on market and lots of recent...2021 - 2022 boats listed. There were no boats from 2020 - 2022.

Peoples reasons for selling vary... tired of payment, interest changed, not using it enough, health, relocating... it really don't matter why people are selling, just that more people are selling lately.

I posted my boat as it was looking like I was relocating but that has since changed for now and I immediately took down the post.

It sucks having your boat sit in the driveway but I went out last weekend and I realized it only takes one outing to make it all worth it again!

My plan when I bought the boat was to own it for 2 - 4 years, it was more of a bucket list thing for me but I'm so happy I did buy it because I just love being on it!

As far as used prices dropping, Yamaha is helping to protect against that with their price increases, especially on the 252SD!

 

[Ronnie]

I’m seeing a lot of good deals on used boats here in NCal, still some aren’t selling or selling fast. Seems like people are more reluctant to spend their money even on wha to consider great deals.

there are quite a few dreamers trying to sell their boats at a premium price. I assume that here are newbies that will be rudely awakened when the weather gets colder and the boating season ends. Time to reduce the price to less than they could have gotten when the weather was good and the kids were out of school.

 

[YoDaddy292]

Honestly….anyoneone who was an adult in 2008 could see this coming. We all had the same questions as we did back then…..”How are people able to afford all this?” Well….they couldn’t. Never heard anything more ridonkulus than people putting nothing down on a toy then proclaiming how much “equity” they had in their boat because for two years in the history of the world people made $5k above what they paid for their boat. It’s not a gloat to say that I saw it coming, as I noticed most on here did too, but some normalcy and less greed would be a nice change.

 

[BigAbe75]

No shame in selling if you won't user it for a few years. You can then get back in the game with something else that fits your needs better when you are ready. Specially if it's weathering away.

That’s what me dealer told me too. Said the worst thing for the boat is to not use it. I’m not quite ready for that, yet, though. ?

 

[Jim_in_Delaware]

As far as used prices dropping, Yamaha is helping to protect against that with their price increases, especially on the 252SD!

For most of the line, however, we see very little increase in prices (2%) over 2023. With add-on fees lower than the last year, I’m not really sure the OTD prices are higher than last year.

Jim

 

[HangOutdoors]

For most of the line, however, we see very little increase in prices (2%) over 2023. With add-on fees lower than the last year, I’m not really sure the OTD prices are higher than last year.

Jim

Really they are not higher. I would assume they did the 2% so as not to try and absolutely piss everyone off with the surcharge, and dealers up charging over this last year. If people can buy, OTD, the new model less than the 2023's, it would go bad. Come the dead of winter and 1st quarter of next year, as new inventory stocks up and used boats in like new condition and considerable discounts hit the market, I would anticipate deals, or at the very least the start of deals.

 

[Billtex2000]

Maybe a lot of Covid boats that people are no longer able to use. I see lots of 2019's, 21's and 22's for sale with low hours.

 

[drewkaree]

I've never read that formula for used cars, can you elaborate? $1 per mile on the vehicle?

Not really a formula for a purchase strategy, just what prices were working out to be. Late 2019 I was looking to buy a newer version of my current car, maybe just off lease, and relegate my current car to backup use and boat hauling, and leave it at the lake house.

At the time, prices were about $30k for cars with around 30k miles, and I was looking for something specific that had a few pop around $27k for the same mileage, but were almost instantly snatched up.

I was 2-3 weeks from definitely moving forward to purchase something, even at the $30k price point when covid hit, and prices started climbing at that time as well due to the chip shortages, so I simply waited - best time to buy a car is when you don't need one, so you can easily walk away from a deal you're not in love with, and regret it later.

Prices kept climbing, to the point that it was almost identical to brand new pricing at my target mileage point (30k), and my target price point ($30k) had mileages anywhere from 60k+ up to 100k.

It was just a perfect coincidence in 2019 that my price and mileage preferences came out to be $1/mile for typical offerings, and it's starting to get close to that again. At this point, I'm a cash buyer, so I'm getting even more specific, looking for 3 exterior colors, but it's got to have a black or gray interior, and I won't consider the fully loaded trim package for certain reasons, even though I can more easily match all the other criteria. If the right price/mileage pops up, I may bite.

It's great to be able to get a call from a dealer who's now a friend, knowing he's got something quite close, so it won't be a waste of my time, or theirs