NHAngler

(Used) Boat prices - put your helmet on…

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Used boats and RV’s… Put your helmet on as prices are falling! If you are buying, pay attention and consider waiting. If you are selling, no your email is working fine, but nobody is interested in overpaying for your 20 yo boat. Time to adjust expectations. 
 

For the dealers that have doubled prices over the past 2 years, I told you I this will end in a game of  rochambeau and I gots my steel toe boots on ready for round 1!

 

 

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I bought a used RV and Boat within the last year and feel I paid a very reasonable amount for each. I was looking at used boats again the other night and saw some overpriced, and some reasonable deals. 

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Posted (edited) · Report post

Not that I am studying the market in every aspect and/or region but I have been looking for 2 boats in particular with a little more than tire kicking prioritization. However, here are some reasons IMO that are and will drive down prices in the use (and eventually new) market:

1. Sharp rise in cost of gas. If the rise in gas were over a longer period, I doubt this would matter much to most, but we are very reactive creatures. Easy reason to list but very much in your face and the bigger the boat, the bigger the bill. If you could afford to fill up and cost you $1K last year, this. year you will pay 2K or simply use your boat less (see reason number 3 for what affects come from this choice). 

2. Rising overall costs of boat ownership. Beyond gas prices, boat slips, moorings, and other services are on the rise. Parts and repair costs have gone up and, in some cases, impossible to get service due to the demand and lack of help. 

3. Loss of use or less use by choice. Boat disabled with lengthy or unknown fix date, or you simply don't want to pay for gas... A sitting asset such as a boat will depreciate. Past couple of years has been an anomaly and boats typically lose value quickly and as they are toys (for most).

4. Pandemic buyers with attention problems are moving on... There are many that bought a boat or RV as there was little else to do and they wanted to spend some $. As this slows / ends there will be a form of reversal and those items will return to the market in a flooding manner. Supply vs demand economics. 

5. Our markets are sucking hard right now. It has been getting worst, rates rising, and home sales down. 

6. Lack of money. Employment seems strong but with the rising costs of everything, we are all making less money. Buying a toy vs paying for food, housing, education, etc... 

 

What will be interesting is the new boat sales. There will always be those that buy new and never buy used. However, I would think that even they will be impacted as demand goes down. Some may have given up and others may have moved on to the used market. I am seeing dealers start to drop their prices a little. As their inventory rises, I expect them to deal with the pain that they have been a part of creating. 

Edited by NHAngler

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7 hours ago, LB said:

ged, has the gas prices bought down the used boat market?

I am not sure.
 

I bought my boat from a friend. He re-powered after he bought it a decade ago and only put 230 hours in the motor. Little 18’ CC I can take out solo with ease. 
 

I am a seasonal camper on the canal. When I looked at new campers this Spring with a bunk house for the kids we were going to pay $50-60K new. I found a used 40’ destination trailer from a guy at work for $26K (probably $80K new) and a 30’ for $13K. The estimated delivery date of the new camper made used the only choice and $13K cash was fair. 
 

When I buy a bigger boat I will probably buy in Florida. Buyers market there. 

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lets be real

 

This econonmy cannot withstand gas prices where they are, and certainly cannot stand diesel prices where it is

 

Just wait till people have to put heating oil in the tank come fall.

 

We are headed to a bad place, and there is no talk of remedial action, just more misguided bullchit.  FJB

 

IMO, the used boat market will be swamped shortly, and prices will change drasticly

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42 mins ago, makorider said:

lets be real

 

This econonmy cannot withstand gas prices where they are, and certainly cannot stand diesel prices where it is

 

Just wait till people have to put heating oil in the tank come fall.

 

We are headed to a bad place, and there is no talk of remedial action, just more misguided bullchit.  FJB

 

IMO, the used boat market will be swamped shortly, and prices will change drasticly

 

That is going to absolutely destroy a lot of families who work hard and have finally grasped and clawed their way from poor to lower middle class (wth the help fo easy money).  

 

A cold fall will be ruinous, and not specific to boating market etc.  

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5 mins ago, 55555s said:

a 17' skiff for a song would be a nice late fathers day present though!

I SECOND THAT THOUGHT.

 

PROBLEM---I can't sing !!!!

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39 mins ago, 55555s said:

 

That is going to absolutely destroy a lot of families who work hard and have finally grasped and clawed their way from poor to lower middle class (wth the help fo easy money).  

 

A cold fall will be ruinous, and not specific to boating market etc.  

And you are right. Nothing being done about it NOW. Administration is both day late and dollar short.... As for the folks who will be upside down in their boats...Eff them. The free money has been a ruinous bandaid that will backfire. I was out of work a year before the pandemic, due to knee replacement. Out a total of 34 months. No PPP or unemployment taken here. Makes me want to puke to see who got what and most have been forgiven... You can look up who took what by town.  Majority of those who filed took advantage of the system, IMO.  I will have no problem sticking it to someone upside down in their boat payment if I have opportunity to go larger.

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I think that the used mid sized twin engine boats will be most affected by economy. New boat customers and small boat owners will be least affected imo. My small CC 18.5 w/ 4 stroke now costs me an extra $25 a trip - not a deal breaker. New boat buyers seem to have the $. I see some boat owners looking for crew to help foot the bill.

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Posted (edited) · Report post

17 hours ago, LB said:

So now you will be a camper on the canal? 

No... I LIVE IN A VAN.... DOWN BY THE RIVER!!!

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Edited by NHAngler

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I've had the same 18' center console for almost a decade. Have wanted to move up to bigger and likely will at some point. However, for fishing 1-3 people, ease of launching/loading, maintenance, trailering, etc, it's a dream boat. I spend 2-3x more in fuel getting to the saltwater than what I do on the water and I put a dozen to 15 miles for most trips. So my real problem is where I live. :) Let's talk housing prices, shall we? ha ha. 

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I'm keeping my powder dry.  I was under agreement on 2 very high end center consoles this spring, full surveys on both.  Both fell apart for different reasons and glad they did.  I realized that my current boat still gets it done.  While I would like to chase tuna, may have to sit out this season on the bigger boat and be ready when a deal comes along.  This is going to be a long winter for those upside down on boats or anyone in the boating space that was getting used the freewheeling days of 2021-2022.

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