Brokers, State of the Boat Market?

G

Golfman25

Well-Known Member
Sep 12, 2009
7,699
IL
Boat Info
1998 370 Sundancer
Engines
7.4 MPI
Any brokers care to comment on the state of the used boat market these days? I am hearing things about cars and RVs but not much about boats. Seen some listed boats have recent price reductions. But still a lot of find me a "sucker" pricing. With the stock market in a nose dive, fuel going to the moon, what's going on out there on the front lines?
 
The rate of sales of previously owned homes fell in April, the third straight month of declining sales, even while prices climbed to a new record.
Rates have continued to climb, putting houses even more out of reach for many who would like to buy a home. The rate on the thirty-year fixed mortgage was around 3.75 percent at the start of March. It is now around 5.25 percent.
Those quotes taken from Breitbart Today!
Bad things are on the way? A long financial winter is coming? JC
 
I spoke with a broker last Saturday for a few minutes. A friend of a friend, no direct connection.

He said things have only gotten worse on the Great Lakes in the last 6 months since we're now getting into boating season again. He seemed to suggest there were fewer "big boats" available now than this time last year. We didn't really talk about runabouts and ski boats so perhaps that's a different market.

I told him I've always wanted a 480 and he quickly showed me the five for sale...in the entire country. ha. He also told me he could get stupid money for my boat, sell it without listing it, in 3 days or less. But he's also a broker so...you know.
 
I've been to that dealer for a test ride on a trade-in they listed, before I bought my 200OV. Electrical and various issues they weren't willing to negotiate being fixed as term of sale, but low value boat compared to cruisers so I don't blame them. Nice place, friendly staff, but experience is years ago. On a separate note, Alexandria Bay and the St Lawrence is a great place to cruise and shop. Quite a few dealers in the area and lots of water related activities so a visit for a boat inspection is never a wasted trip.
 
Also no skin in the game.

I've been to that dealer for a test ride on a trade-in they listed, before I bought my 200OV. Electrical and various issues they weren't willing to negotiate being fixed as term of sale, but low value boat compared to cruisers so I don't blame them. Nice place, friendly staff, but experience is years ago. On a separate note, Alexandria Bay and the St Lawrence is a great place to cruise and shop. Quite a few dealers in the area and lots of water related activities so a visit for a boat inspection is never a wasted trip. AND, you could visit Timeflys :)
 
Captsteve427 said:
It's going to be interesting to see how the boat market is effected by the recent change in fuel prices & interest rates.
I'm not selling unless I can get a really good deal on a non-POD 48DA.

I saw this boat on line and thought it was priced really well:

https://www.yachtworld.com/yacht/2004-sea-ray-680-sun-sport-8006288/
Click to expand...

If you believe what people share online - 98% of the people around here pay cash for their boats. Neither interest rates nor fuel prices will impact anything...:):)
 
I sold my Cobia in the dead of winter. Paid in full the week I was able to get it in the water. No water test or anything. The buyer sold his smaller center console the week before he picked up mine. He said buyers were fighting for his.
 
Jus Cruisin said:
I sold my Cobia in the dead of winter. Paid in full the week I was able to get it in the water. No water test or anything. The buyer sold his smaller center console the week before he picked up mine. He said buyers were fighting for his.
Click to expand...

I can relate.... the only reason I got my boat last July was because it was being marketed by the owner, I was the first to see it, made an all cash offer and told him I could do the boat & engine survey the following week, since I already had them set up for a deal I had on another boat that fell through. The used boat market will calm down when the supply chain issues go away and manufacturers get back up to speed on the production of new boats.
 
Listed my 10 meter mid January, sold in early May, on the market just under 4 months.

Less leads the last month than the month before.

I believe I got a fair price and given the current picture, am very, VERY fortunate the deal is now closed.

RWS
 
For those of you that predicted that recent new COVID purchases would soon end up back on the market, I give you this 15 hour beauty listed 5 hours ago...
upload_2022-5-20_12-3-29.png
 
Your curiosity about the state of the used boat market is quite valid, and it's interesting to see how different markets are being impacted in these times. It seems like the boat market might be following a similar pattern as cars and RVs with some price reductions. The term "sucker" pricing does raise a red flag – it's crucial for buyers to be cautious and well-informed. Considering the volatile stock market and rising fuel costs, it's understandable to wonder about the front-line dynamics.
Also, have you thought about engaging with a mortgage broker in Ipswich for financial insights? Although their focus is on mortgages, they could potentially shed light on broader market trends, which might help in decision-making.
 
RyanMatthew said:
Your curiosity about the state of the used boat market is quite valid, and it's interesting to see how different markets are being impacted in these times. It seems like the boat market might be following a similar pattern as cars and RVs with some price reductions. The term "sucker" pricing does raise a red flag – it's crucial for buyers to be cautious and well-informed.
Click to expand...
You are replying to a thread more than a year old.
 
The long and short of it is simply if you have a clean boat and it's priced in the market the phone will ring. As an example, I just listed a clean 2008 47 SB at 450k within the first 36 hours I already have 5 showings lined up for next week. Recently I had the owner of 2010 500 Sundancer with Zues pods tell me he would be a seller at 485k which I communicated to him was overpriced which he didn't want to hear and wished him the best of luck.
 
I’ve been shopping for an easier to maintain smaller center console since June of last year after selling my big boat due to back problem. The market was absolutely nuts for center consoles. Hard to find good clean ones. In the rare instances where I did come across what I felt was a nice boat it was priced as high as it was when new. Things appear to be different this Fall. I’m starting to see a little more realistic pricing from a few private sellers on used center consoles, and dealers are more flexible. I don’t think a lot of private sellers are ready to embrace the reality of a changing market yet, but things do appear to be changing.
 
I talked to a broker about listing mine a few weeks ago. Per him, boats are still selling, selling prices are still good, it's slowed down though. He showed me the sold boat #'s for mine, I was surprised at how many have sold and the strong prices.

I am seeing the same in the 2nd home waterfront properly market. Sellers are more willing to negotiate though from what the broker tells me, and prices are decreasing on listings.
 
mrsrobinson said:
I talked to a broker about listing mine a few weeks ago. Per him, boats are still selling, selling prices are still good, it's slowed down though. He showed me the sold boat #'s for mine, I was surprised at how many have sold and the strong prices.

I am seeing the same in the 2nd home waterfront properly market. Sellers are more willing to negotiate though from what the broker tells me, and prices are decreasing on listings.
Click to expand...
Did you end up listing it?
 
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