Hopefully Price Bubble is coming

I

Instant Insanity

New Member
Apr 29, 2020
11
Boat Info
1989 340 Sundancer
Engines
Twin 454 Mercruiser
I hope I'm right.... but I think the price bubble is coming. I'm starting to see a lot of new boats listed in last couple weeks with astronomically high asking prices, even for this current insane market. I'm thinking no way these can sell with these super inflated prices. Creating more inventory/competition. Hopefully this drives the prices down a bit. I'm in the market for a new used boat, but just can't pull the trigger on something i feel is so overpriced I'll be upside down on within a few years. I hope I'm right. Certainly tough to be sitting on the sidelines last couple years.
 
Instant Insanity said:
I hope I'm right.... but I think the price bubble is coming. I'm starting to see a lot of new boats listed in last couple weeks with astronomically high asking prices, even for this current insane market. I'm thinking no way these can sell with these super inflated prices. Creating more inventory/competition. Hopefully this drives the prices down a bit. I'm in the market for a new used boat, but just can't pull the trigger on something i feel is so overpriced I'll be upside down on within a few years. I hope I'm right. Certainly tough to be sitting on the sidelines last couple years.
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I am in agreement with you, and I see the same thing happening. We are in the market for a 55 or 58.
 
I just saw a local 2002 410 Sundancer listed for 299k! Beautiful boat and he did a great job updating cockpit etc. But I have a feeling that isn't going anywhere at that price.

I'm in the market for a 2005-2009 38-40 Sundancer and I'm not paying anywhere near that price.
 
Yeah, greed has to be at its max. I have seen 98 370 sundancers just listed at 92,000 and 125,000. Saw a 2000 340 just listed at 119,000. Wells Fargo is closing personal lines of credit. Wonder if other banks will follow and credit will tighten a bit. Foreclosure and eviction moratorium is ending July 31. My gut tells me hang on, it's going to be another wild ride.
 
Instant Insanity said:
I just saw a local 2002 410 Sundancer listed for 299k! Beautiful boat and he did a great job updating cockpit etc. But I have a feeling that isn't going anywhere at that price.

I'm in the market for a 2005-2009 38-40 Sundancer and I'm not paying anywhere near that price.
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We have an 2001 380 Sundancer that we have outgrown. LOVE the 380!!
 
Golfman25 said:
Yeah, greed has to be at its max. I have seen 98 370 sundancers just listed at 92,000 and 125,000. Saw a 2000 340 just listed at 119,000. Wells Fargo is closing personal lines of credit. Wonder if other banks will follow and credit will tighten a bit. Foreclosure and eviction moratorium is ending July 31. My gut tells me hang on, it's going to be another wild ride.
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I don’t wish it upon anyone, but we are waiting for the moment when credit tightens, inflation begins to squeeze, and individuals begin to offload big ticket items.
 
Instant Insanity said:
I just saw a local 2002 410 Sundancer listed for 299k! Beautiful boat and he did a great job updating cockpit etc. But I have a feeling that isn't going anywhere at that price.

I'm in the market for a 2005-2009 38-40 Sundancer and I'm not paying anywhere near that price.
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Lol what?! Alright, I love my boat but if someone wants to pay 299 you can have it right now. I’ll leave the fridge full for you
 
I'm just now in the last couple weeks starting to see alot of severely insane overpriced boats, even for this current crazy market. I think people are seeing these high prices and low inventory and just throwing an insanely high asking price for these boats to see if someone bites. They are hearing all the crazy stories and sell prices and going oh I'll see what I can get. I think it's great. It's going to add more inventory and start driving competition for guys who are serious about selling. I hope this is the start to the bubble burst so I can get back in! Probably a little wishful thinking on my part but a guy can hope right!
 
Good pt. Funny story... I sold my house last summer in June 2020. Got a decent price for it. According to the old neighbors whom I still stay in contact with l, the Buyers relisted their home on the market just a tad over 12 months since they purchased it. They listed it 32% above where I sold it to them!  I will be shocked if they got anywhere near that.
 
Sold my house 7 months ago for $355K....Zillow is currently valuing it at $404!
 
Maggieiscrazy said:
How accurate is Zillow? They say my house is worth $517k. I think they’re about a 100 grand high.
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In many markets Zillow does not have access to the data they need to give accurate values.

It is all about trying to get you to click on their ads. They couldn’t care less if the amount was accurate. In fact, an exaggerated number may get you to come back to their site more often just to gaze at it.
 
Instant Insanity said:
I hope I'm right.... but I think the price bubble is coming. I'm starting to see a lot of new boats listed in last couple weeks with astronomically high asking prices, even for this current insane market. I'm thinking no way these can sell with these super inflated prices. Creating more inventory/competition. Hopefully this drives the prices down a bit. I'm in the market for a new used boat, but just can't pull the trigger on something i feel is so overpriced I'll be upside down on within a few years. I hope I'm right. Certainly tough to be sitting on the sidelines last couple years.
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prices are crazy. Waiting till next year.
 
Haden said:
I don’t wish it upon anyone, but we are waiting for the moment when credit tightens, inflation begins to squeeze, and individuals begin to offload big ticket items.
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Wouldn't an inflation squeeze increase the prices?
 
jmauld said:
Wouldn't an inflation squeeze increase the prices?
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No. When credit tightens, it becomes less available, so fewer people will be able to buy boats. This will reduce demand, and subsequently inflation.
 
RutgersAl said:
No. When credit tightens, it becomes less available, so fewer people will be able to buy boats. This will reduce demand, and subsequently inflation.
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I do believe many live pay check to pay check, have too many bills, etc… This will cause some to scale their lifestyle back, or even unload big ticket items. My wife and I are waiting for the opportunity. I’m shopping and whatever price they are asking, my offer will automatically be $100,000 less. If my plan doesn’t work, we will continue to enjoy our 380.
 
I am lurking out there boat shopping. Every time I see a boat I might be interested in I notice how long it’s been listed.

Listings are aging more and more and I’ve seen “price reduced” ads.

All the newbie COVID boaters will be bailing this winter and when people in the 17 states realize COVID benefits to the lazy are ended lots of stuff will be for sale at bargain.

I’ll swoop in then. :D
 
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