Used Boat Prices

[HangOutdoors]

Seeing a lot of used boat prices coming down 10% or more around here locally right now. There are a few holdouts for ridiculous prices but the majority are moving much lower. Not sure if it will trend that way into the spring, but this is great for those looking to buy a used boat as well perhaps softening dealer prices as well. Dealer near me is listing some inventory in stock that they have as well.

 

[biffdotorg]

Very much so, especially for those of us with frozen water.

And when I see a beautiful 242LS over priced by over $10,000 since September, I think that is a hint to the buyer that it's either a POS or over priced. I doubt it's in bad shape at all, but folks are getting wise and new boats are shipping more often.

Someone on Facebook was advertising a 4 year old AR190 for $10K more than it's factory new price! That is flat out greed on an entry level boat where there is no real shortage of. I asked him for pics of the AR240 he had for sale. He said, sorry, I don't have an AR240 for sale, just this AR190. And I responded "exactly"

 

[Jim_in_Delaware]

While I think the downward pricing is good, I would like to see them drop another 10%. When I look at the smaller Yamaha's, I see 2019 AR190's now starting around 32K, which is what the price was when new (minus the shipping and dealer prep.)

Jim

 

[haknslash]

Prices always drop in winter. I expect the used market will explode again once the season nears and new supply will be scarce just like last season, if not worse. Boat dealers are still taking in orders for 2023 models since all 2022 are spoken for, well in the wake boat market at least, I can't speak for jet boats. A lot of wake boat manufacturer's are planning to do yet another price increase due to foreign raw materials prices and a supply chain that is still hemorrhaging. With all the price increases ranging from 15-30% (and people will pay it) IMO this will help heat up the used market values once again. Best time to buy a boat if used is in the winter and if new during the boat shows.

 

[Dixemon]

There not projecting inflation to taper of until 4th quarter of 2023. I doubt the used market is going to get stale in the next year.

 

[JetBoatingUpstateNY]

Someone on Facebook was advertising a 4 year old AR190 for $10K more than it's factory new price! That is flat out greed on an entry level boat where there is no real shortage of. I asked him for pics of the AR240 he had for sale. He said, sorry, I don't have an AR240 for sale, just this AR190. And I responded "exactly"

Sounds like he's just listing the price he would be willing to accept for his boat. not sure how this is greed, or why you felt the need to waste his time by replying to his ad like that

 

[haknslash]

If the market allows for it I say kudos to the 4 year old 190 seller if he could have pulled in that money. Look back on any of the many posts and threads on here from disgruntled people waiting for their 2021 boat after being strung along by their dealers wayyyyyy past when they expected the receive their boats. Had people driving all across the country to go find any boat instead of waiting for their original boat to come in. Those people probably paid more than what they would have paid if they were patient enough to wait it out on their original boat. In the end they didn’t care because they got in a boat and not sitting on the dock wishing they had a boat. I don’t think it has as much to do with greed but rather the power of supply and demand IMO.

 

[Jim_in_Delaware]

If we are talking about $40K for a 4 year old AR190, then anyone buying at this price is paying too much money. Used AR190 are selling at or slightly higher than MSRP at this point. There are several 2019/2020 AR190's currently on the market for $32 - $36K. Personally, while I think there will be a good demand for boats next Summer, I don't think it will be anywhere near the level of demand for 2020/2021.

Jim

 

[haknslash]

I see nothing on the wake boat boards and social media sites that indicates there will be a lower demand for boats next season. My dealer sold out of their 2022 build early summer last year and were taking in 2023 orders by September. Maybe it will be different for jet boats as they don’t have major changes every few years as often as other boats but based on my discussions with my dealer and what I’ve seen posted it looks like it will be a hot market once again. I welcome it as it does nothing but increase or help hold the depreciation value of my boat. Not that I’m planning to sell or anything lol but I’ll take a hot used market over a cold one any day of the week.

 

[Jim_in_Delaware]

I think a lot of 2020/2021 demand was stimulated by first time boat buyers who were looking for something to do with their families. Looking at my cracked crystal ball, I don't see that level of demand being sustained as folks can now do other things with their families. While many manufacturers pre-sold their 2022 boats, not everyone is taking delivery on these boats and we are seeing many dealers having a small inventory of new boats for sale. Many niche categories of boats, including wake boats, may continue to see very strong demand as many buyers are not likely first time boat buyers. I think, however, this may not be true of the general small boat market. If new boats become available at dealers, this should drive down the value of some of the used boats

Jim

 

[biffdotorg]

Sounds like he's just listing the price he would be willing to accept for his boat. not sure how this is greed, or why you felt the need to waste his time by replying to his ad like that

Felt the need as I’m shopping for buddies that would love an entry level Yamaha.. You are right, it was not really greed, it was flat out stupidity in knowing boat values. $10K higher than new on a 4 year old boat in the end of December is someone not in touch with the market.

There is no real shortage on 190’s. There are plenty out there. What is even more funny, is when someone posted a want ad for a 21-24’ model and someone with a 19’ chimes in with what they have for a similar price of a 24’ boat. That’s when you giggle and realize it’s two 19’ boat owners butting heads. One is looking to upgrade, and the other is looking to get out of his 19’. Time to sit back and laugh.

 

[biffdotorg]

If we are talking about $40K for a 4 year old AR190, then anyone buying at this price is paying too much money.

That’s exactly what they were asking. Amazing. The first year 190’s are the ones that really get me. With minimal change to the 190 series “visually” most consider them unchanged. I remember when you could buy an AR190 for $13,000. That is no lie, another buddy passed on a couple on a few seasons ago to find a 210

 

[FSH 210 Sport]

I still think used market is going to drop price wise. People make poor financial decisions, a lot of them. Those that have non firm interest rates on stuff are going to be desperate to shed financial load when the fed raises interest rates and these non firm interest rates go up accordingly.

Reality is also going to pay a visit in other ways when the FOMO wears off and just making ends meet in a double digit inflation economy, that is what is going to hit the firm interest rate people.

 

[BlkGS]

The issue that people are having is not recognizing that the value of the dollar is dropping dramatically due to inflation. When you have high inflation, depreciation will slow because the intrinsic value of the item is going up. That 40k 4 years ago is like 50k plus in today's money. So it's going to depreciate in today's dollars, not 4 years ago dollars.

All that to say, used prices won't go down more than seasonal variation. Maybe the guys who really missed the market will drop prices, but just like cars, there is huge demand, not a lot of supply, and cheap financing. There are tons of 1 to 3 year old used cars selling for over msrp. I've seen kia Telluride that are a couple years old listed for 20% over msrp, and selling quick.

Our leadership has gotten us into quite the the mess economically since covid hit.

 

[Jim_in_Delaware]

Inflation has been estimated at 6.8%, which although is high, to me is not totally unexpected given the global pandemic and the actions taken by various governments. For the last 4 years, inflation has been 6.8, 1.2, 1.8, and 2.4% for a total of 12.2%, so that 40K is 44K in today's money. IMHO, inflation is going to happen irrespective of whom is in leadership. Many prices for commodities, such as oil, are based on world demand/supply for that item.

I would offer, the car and boat market, while both have covid pricing, will normalize at different times. I see cars as something that are essential as most of us NEED a car, why most of us WANT a boat. A lot of first time boat buyers purchased their boats as something for the family to do. Some folks will keep their boats, but I think others will sell their boats on not get into boating as there are other options with the family fun monies (ie, trips to Disney, etc.)

Jim

 

[BlkGS]

Inflation has been estimated at 6.8%, which although is high, to me is not totally unexpected given the global pandemic and the actions taken by various governments. For the last 4 years, inflation has been 6.8, 1.2, 1.8, and 2.4% for a total of 12.2%, so that 40K is 44K in today's money. IMHO, inflation is going to happen irrespective of whom is in leadership. Many prices for commodities, such as oil, are based on world demand/supply for that item.

I would offer, the car and boat market, while both have covid pricing, will normalize at different times. I see cars as something that are essential as most of us NEED a car, why most of us WANT a boat. A lot of first time boat buyers purchased their boats as something for the family to do. Some folks will keep their boats, but I think others will sell their boats on not get into boating as there are other options with the family fun monies (ie, trips to Disney, etc.)

Jim

I feel like government estimates of inflation are always very low, because it makes them look better. You would be hard pressed to find anything that has only gone up byb12% in 4 years, and while supply and demand does play a role, buying power plays an even larger one, because if it was truly a supply issue, we would see more production of things like steel, aluminum, etc. In the US vs it all being in China.

While I agree that inflation will happen regardless of who is in power, there's no denying that the response to covid over the last 18ish months has spiked it. Poor fiscal policy from both leaders we had, just that one guy looks to want to continue that streak.

Personally, I think our whole economy needs a revamp. We need a return to Exceedingly high interest rates, which will drive money out of false drivers like the stock market and venture capital, and encourage Americans to be more fiscally responsible.

It'd also likely crater the US economy, world economy, housing market, car industry, stock market (meaning most retirement accounts), but it'd be a long term healthier state for the economy IMO.

 

[ripler]

With dealerships gouging buyers with inflated prep fees and other BS, what's wrong with someone selling their boat for outrageous prices? If someone is willing to buy a 4 year old boat for over MSRP of a new one, that's not the seller's problem.

 

[Stevepro172]

Gas prices for summer 2022 are predicted to be around $4.50 gal for gas. that has to play a part of boat prices!

 

[Neutron]

My next mod is a mast and sail, to save gas!

 

[BlkGS]

Gonna be honest, people spending in the tens of thousands for a boat are not likely to be in the same financial position as those deeply hurt by gas prices. I doubt it'll make much of a difference, except on the very cheapest end of boats.

And at the risk of wading into the political pee pool too far, you gotta believe the Dems have all their people, the best, the worst, the ones on their first day, all of them working on how to not have gas prices rise at all and how to reverse inflation, because both things are likely to mean a swift death to their control of the legislative branch, and like a lot of governer mansions.