Used Boat Prices

[deubank1776]

Well that is good news.

 

[Stevepro172]

@Stevepro172

Amazon.com: ARES 70039-3/8-Inch Drive by 7/8-Inch (22mm) Offset Oxygen Sensor Socket - Wire Gate Accesses Sensor from Side, Preventing Damage to Wires: Automotive

You can probably get it at local auto store. I have two now..... smh

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.

I mostly agree however as we have seen of the rise of "non Boaters" the last 2 years. At least in the north east where I live if you buy a boat you get the slip for the 1st year free. I can't tell you how many people are complaining or planning to sell their boat because of the cost of the slip alone (around $2k for April-Oct). if they complain about that I just assume $225 for a tank of gas won't fly! (50 Gal tank *4.50)

 

[HangOutdoors]

Used Boat Prices are starting to climb around here a bit quick. With Ice Out 2 months or less season is getting here.

 

[JetBoatingUpstateNY]

I noticed that too. Wife & I might be moving to a more rural area with smaller/sketchier/weedier bodies of water, so we might downsize from the 24' down to something more appropriate. The NADA value on it is insane. Not to hijack the thread but I'd appreciate any real input on what you might think my boat is worth!

 

[HangOutdoors]

I would do a boat trader and facebook marketplace search for your boat in the area. That will give you a pretty good idea of the zone and what is going on. Start from there.

 

[FSH 210 Sport]

So despite the best efforts of some to conceal Inflation, the cpi is now reported at a little over 7%, highest in 40 years. this number does not include fuel and other energy sources which masks real inflation which is now in the mid 20% range. The average price of regular gasoline was forecast, based on the bogus cpi forecast, to be in the $4 dollar range.

The fed reserve is going to be making adjustments to the prime rate in Q1 through Q4, those adjustments are going to be much more than people would have you think. This is just one aspect of the high cost of inflation, money is not going to be so cheap anymore, this combined with the other aspects is going to create a contraction and a lot of people are not going to be able to afford a “luxury“ item like a boat let alone to put gas in it. People are going to be pressed to cover the high cost of food and energy for daily life.

 

[HangOutdoors]

So despite the best efforts of some to conceal Inflation, the cpi is now reported at a little over 7%, highest in 40 years. this number does not include fuel and other energy sources which masks real inflation which is now in the mid 20% range. The average price of regular gasoline was forecast, based on the bogus cpi forecast, to be in the $4 dollar range.

The fed reserve is going to be making adjustments to the prime rate in Q1 through Q4, those adjustments are going to be much more than people would have you think. This is just one aspect of the high cost of inflation, money is not going to be so cheap anymore, this combined with the other aspects is going to create a contraction and a lot of people are not going to be able to afford a “luxury“ item like a boat let alone to put gas in it. People are going to be pressed to cover the high cost of food and energy for daily life.

Totally agree. I think a lot of the sales being posted and they have almost tripled around here in the last week or two, are people seeing the writing on the wall and hoping to get as much as they can out of their boat before it all hits the fan and sellers will have to start coming down on their prices, which I would assume will put some under water.

I see posts here as well as other places in all markets indicating supply shortage and prices going up. That is fine and dandy, but if people don't buy your products, you will have to figure out how to offer them for less or shave your margins. I would assume a lot of small businesses, especially those in luxury markets, such as boating suppliers, will have some rough times and may not make it.

 

[JetBoatingUpstateNY]

Yep, there's a lot of macroeconomic factors that will drive many folks away from boats, especially on the lower price point. To me though, manufacturing delays combined with pent up demand, and the S&P500 still doing ok despite the recent dip, means many folks are still out there with cash to burn, whether they're recently retired or whatever. I don't see used boat prices leveling out until 2023 or so, just my 2 cents though

 

[FSH 210 Sport]

Totally agree. I think a lot of the sales being posted and they have almost tripled around here in the last week or two, are people seeing the writing on the wall and hoping to get as much as they can out of their boat before it all hits the fan and sellers will have to start coming down on their prices, which I would assume will put some under water.

Wow! Tripled!!!!!!

As I mentioned in another post, my friend is selling his 2019 240 for more than he paid for it and is upgrading to a 255 XD. I’ve toyed with idea of doing the same and upgrading to a 255 or 252 FSH. But the extra ton of weight, doubled fuel usage, and main usage of my boat are factors against it. If I was always taking a larger crew out regularly or was going to be in bigger water regularly then that upgrade would make more sense. That doesn’t mean I don’t lust after that sexy beast! I’m currently spending that extra cash on mods and upgrades to make my little 210 work better than it already does.

 

[HangOutdoors]

Wow! Tripled!!!!!!

As I mentioned in another post, my friend is selling his 2019 240 for more than he paid for it and is upgrading to a 255 XD. I’ve toyed with idea of doing the same and upgrading to a 255 or 252 FSH. But the extra ton of weight, doubled fuel usage, and main usage of my boat are factors against it. If I was always taking a larger crew out regularly or was going to be in bigger water regularly then that upgrade would make more sense. That doesn’t mean I don’t lust after that sexy beast! I’m currently spending that extra cash on mods and upgrades to make my little 210 work better than it already does.

YEah, Facebook Marketplace around here is on fire for Yamaha Boats, every day more used are posted. I comb through them just for kicks. Some are ridiculous, like a 2020 sx210 for 54,000..... lmao. I figure with what I am seeing is that buyers went low down or zero down and want to get out. "Roll it all In".....

Also seeing interest rates on Boats and Recreational rising locally as well.

 

[FSH 210 Sport]

YEah, Facebook Marketplace around here is on fire for Yamaha Boats, every day more used are posted. I comb through them just for kicks. Some are ridiculous, like a 2020 sx210 for 54,000..... lmao. I figure with what I am seeing is that buyers went low down or zero down and want to get out. "Roll it all In".....

Also seeing interest rates on Boats and Recreational rising locally as well.

Agreed, I think this is another sign of people getting out due to the reasons I’ve given before, and the reason you just listed, I had not thought about the zero down crowd… they have only profit dollar wise to look at, very low entrance cost for them, and they way they see it they will have gotten paid X amount for owning the boat. As the market place fills up with used inventory the age old rule of supply and demand is going to take effect and prices will fall. The fly by nighter boaters will start to panic and sell their boats for what they owe initially, then will start taking a loss to get out from under that monthly payment for a toy they can no longer afford to operate.

 

[Jim_in_Delaware]

While I spend a lot of time on-line looking at jet boats, I also spend a lot of time looking at other types of boats for sale. I am seeing more cruisers on the market now than I have seen the last two years, and at more normal prices. Circling back to Yamaha, a couple of days ago, there was a 2019 SX190 on the facebook site, for $28,500 (which was a very reasonable price). Interestingly, though, I have seen some three year old boats priced at (or over) MSRP, with notes that the owners can't accept less as this is the balance on the bank loan.

Jim

 

[HangOutdoors]

If things tip right there could be some darn good deals in the near future for buyers.

 

[crains]

My neighbor is trying to sell his '19 242X with 218 hours for $87K!!
Absolutely INSANE!

 

[Sidarousmg]

If things tip right there could be some darn good deals in the near future for buyers.

the way i see it, high prices were caused by 2 reasons, increased demand (when everyone was locked down and you couldn't go anywhere) and decreased supply (manufacturers couldn't produce enough). i think the demand part is/will be gone by this summer, i don't see any more lockdowns, people have had enough and it shows everywhere. so most will go back to their normal summer activities of going on vacations and hanging out with friends. supply part of the equation is a little iffy, there is some supply from people who bought in the last 2 years who have decided owning a boat is not for them, but most of them over paid for their boats, so they're trying to recoup as much back as possible and listing their boats for ridiculous prices. then there is new supply, which is anyone's guess if manufacturers will meet or exceed the number of pre-sold boats. if they do, then i think used prices will come down dramatically.

 

[HangOutdoors]

the way i see it, high prices were caused by 2 reasons, increased demand (when everyone was locked down and you couldn't go anywhere) and decreased supply (manufacturers couldn't produce enough). i think the demand part is/will be gone by this summer, i don't see any more lockdowns, people have had enough and it shows everywhere. so most will go back to their normal summer activities of going on vacations and hanging out with friends. supply part of the equation is a little iffy, there is some supply from people who bought in the last 2 years who have decided owning a boat is not for them, but most of them over paid for their boats, so they're trying to recoup as much back as possible and listing their boats for ridiculous prices. then there is new supply, which is anyone's guess if manufacturers will meet or exceed the number of pre-sold boats. if they do, then i think used prices will come down dramatically.

Also one of the major factors in buying boats was cheap money. Big difference between 2% circa and 7-9%. As the cost to borrow goes up, it will drive prices down.

 

[NewBoater]

My neighbor is trying to sell his '19 242X with 218 hours for $87K!!
Absolutely INSANE!

Let me know how much he sells it for. Thanks!

 

[mwalker4]

If people are underwater on their boats (I make me laugh), then it will take a while for them to get on the market at a reasonable price. First they have give up, the bank needs to take it, then the bank needs to get it to a dealer. Prices will drop causing more desperate sales. Downward it goes. AKA 2008.

 

[HangOutdoors]

If people are underwater on their boats (I make me laugh), then it will take a while for them to get on the market at a reasonable price. First they have give up, the bank needs to take it, then the bank needs to get it to a dealer. Prices will drop causing more desperate sales. Downward it goes. AKA 2008.

People could fork out a couple few grand or so to cover the difference, I would assume most are close even with minimal down. If they aren't going to use the boat and they can get top dollar, it makes sense to come up with the difference if feasible and move on. I have done that with vehicles in the past.

 

[FSH 210 Sport]

My neighbor is trying to sell his '19 242X with 218 hours for $87K!!
Absolutely INSANE!

That’s funny! He wants the same as a brand new 255 fsh sport E.

But you never know there is an ass for every seat!