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Looking for a new boat? Looks like the market is softening

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I love when we make way past the breakwater at first light and head out, there's nothing better, the whole rest of the world just melts away for me.

(*edited - member formerly known as 'windknot')

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From what a dealer I know tells me, the higher interest rates definitely led to some softening.

 

On the other hand, he supposedly had a good New York boat show.

"I have always believed that outdoor writers who come out against fish and wildlife conservation are in the wrong business. To me, it makes as much sense golf writers coming out against grass.."  --  Ted Williams

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Even at my age, I’m still trying to figure out how it works… 

 

In general with anything, food prices go up, car prices go up, home heating and electricity go up.

 

Gas and real estate prices can fluctuate.

 

Will new boat prices go down?

I love when we make way past the breakwater at first light and head out, there's nothing better, the whole rest of the world just melts away for me.

(*edited - member formerly known as 'windknot')

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18 hours ago, Lagerhead said:

Even at my age, I’m still trying to figure out how it works… 

 

In general with anything, food prices go up, car prices go up, home heating and electricity go up.

 

Gas and real estate prices can fluctuate.

 

Will new boat prices go down?

Boat prices are heavily affected by pertroleum prices as, except for the engine, the wiring, and the various metal fixtures, a boat is essentially made out of petrochemicals.  Heavy demand gives retailers less reason to cut deals and, as we saw at the hight of the 2020 buying frenzy, some less than ethical dealers even priced boats over list, although that's the sort of thing that people remember long after the boom days are gone.  At the peak in 2020, boat manufacturers--at least those that make the quality hulls--wouldn't even ship boats to dealers unless the dealer already had a deposit in hand from a customer, because demand was badly outstripping production.  Supply chain issues also played a role; parts weren't always easy to get.

 

High interest rates and, to a somewhat lesser extent, high fuel prices, push demand down, and dealers are more willing to deal.  They take out loans to finance their floor plans, and boats that don't move cost them money.

 

New boat sales were actually on a slow downward trajectory before COVID caused them to spike again, so it's reasonable to expect that sales will soften again in response to what appears to be a long-term trend of reduced demand.

"I have always believed that outdoor writers who come out against fish and wildlife conservation are in the wrong business. To me, it makes as much sense golf writers coming out against grass.."  --  Ted Williams

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I know its very common, that someone buys a boat. They use it a few times a week the first year. The second year they use it once a week and by the 4th or 5th year it's only used a few times a year. They then debate whether the cost vs usage is worth it and they sell it.

Imo, considering how many first time boaters there were during covid, im thinking very soon many will get out. Especially with dock prices going stupid. This is by my mom. The ground usage cracks me up. Its a parking lot with a bbq.

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the human race has proved darwins theory of evolution wrong. we let the dumb survive. 

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