The state of used boat market

dvx216

Well-Known Member
SILVER Sponsor
Feb 1, 2012
2,692
Catawaba Island/Orrville,Oh.
Boat Info
340 Sundancer 2001
Engines
8.1s 370 v drv.
So at 61 yrs. old we're thinking about our last bigger boat. Currently have a 2000 310 Da. that we've had going on six seasons . In this time everything has been updated from electronics , flooring , upholstery and custom wood work nothing to over the top. Hardwood steps and drawer units under the dinette seats to hardwood unit under V birth and a road trailer I had built for the boat. We are interested in moving up to a 1998-2003 340Da. mainly because of the island bed. Right now in the Great Lakes area seems to be slim pickings. What I'm seeing is the ones that are for sale have not been updated and are over priced. Owning a 22 yr. old boat I know everything is showing it's age. I would consider buying a boat that hasn't been updated but not at the prices I'm seeing.
 
You could sell yours now in a high market and wait a year to see if prices come down. Of course timing the market doesn't always work out like you'd hope.
 
Couple of larger Sea Ray in my area listed. I'll keep an eye our for you. What price range were you considering for an stock fitted or custom fitted model?
 
I very much enjoyed my 99 340. They seem to be quite popular for a lot of reasons.

If you can't find a 340 perhaps consider also including the 370? I larger shower might just change your life :)
 
In my opinion, there's a massive recession and property crash coming. Keep your powder dry and be patient.
There will be plenty of boats then at very reasonable prices.
 
As someone who's been looking pre-covid, during covid, and now post-covid, right now the market seems mixed. Yeah, it's slim pickings around the great lakes for good quality boats. Looking at a couple right now. One overpriced, but recently "reduced." Another, a bit high, but been sitting a while. A lot of new listing are at "you must be a sucker" prices -- a few 370 sundancers listed over 100K. Now from speaking with sellers, I don't really get the feeling that boats are moving as quick as they where. Haven't spoke to brokers recently.
 
I'm looking at my local craigslist right now and came across 2 Sea Ray listings listings that I feel are well priced...certainly not extortionate, which has been the norm for the last 2 years. I've mentioned in a previous thread that I'm seeing far less boats on the water this year although the marinas are full. The price of fuel is my suspicion.

https://jerseyshore.craigslist.org/boa/d/lanoka-harbor-searay-sundancer/7502078446.html
https://jerseyshore.craigslist.org/boa/d/lanoka-harbor-sea-ray-250-sundancer/7502226318.html
 
Both are completely out of line. Those are 50,000 to 70,000 boats depending.

You couldn't touch a freshwater 99-03 340 in 2019 for sub $60k (in good shape). $50k was buying a thrashed boat then, and even more so now...
 
I've been shopping since October of 2021 for my 21st boat. Right now everything is 40% overpriced although the junk is starting to see price drops. Owners of nicer boats still think they are sitting on a pot of gold and are holding out for an uneducated buyer with more money than brains.

So far every boat I've looked at in the $150K range also needs at least $15k worth of work even with the overinflated price.

Be patient and ready to buy if/when the right deal comes along.
 
Traffic at boat dealers has already dropped. Check out this article:

https://www.tradeonlytoday.com/post-type-feature/the-other-side-of-the-covid-bubble

One last data point is a discussion I had with a surveyor 2 weeks ago where he said he's gone from one to two surveys scheduled per day to just one or two per week. This tells us the used stuff is slowing down also.

He also mentioned that he's watched a lot of deals (Financed and Cash) unravel because the boat won't appraise near the asking price.
 
If you can.......

buy before you sell, but LIST THE SALE IMMEDIATELY !

That way you won't feel "trapped" into buying something that isn't what you want and at the right price.

When You go to sell yours, the market will be the SAME as when you just bought the replacement.

BEST !

RWS
 
I've been shopping since October of 2021 for my 21st boat. Right now everything is 40% overpriced although the junk is starting to see price drops. Owners of nicer boats still think they are sitting on a pot of gold and are holding out for an uneducated buyer with more money than brains.

So far every boat I've looked at in the $150K range also needs at least $15k worth of work even with the overinflated price.

Be patient and ready to buy if/when the right deal comes along.

To me the uneducated are the ones that hem and haw and proclaim sellers are out of their minds. The market is what the market is. It's not up to individual, overzealous sellers.

If you don't care to be on the water this year, keep waiting for that massive price drop folks have been predicting since...March 2020 :)
 
Not sure what everybody is reading, but first hand from a trusted broker friend, who helped me for over 2 years during Covid, bigger boats are still in high demand. I too started looking pre-covid, and kept listening to everyone, including this broker say "wait, prices will come down and inventory will go up". I think I looked at 25+ boats. Well, that never happened so at 55 years old and who knows how many good/healthy years left in front of me I bought a great boat at the market price. 99-05 340s were selling for mid 50s to mid 60s when I started my search, and upper 90s to low 100s last time I checked.

@dvx216 , you are 61, 6 more than I was; do you really want to wait this out to see what's on the other side? In the meantime wishing you had bought the next boat? You are in a better spot than I was though since you own a boat. I sold my last one about 5 months before the Covid fiasco.
 
To me the uneducated are the ones that hem and haw and proclaim sellers are out of their minds. The market is what the market is. It's not up to individual, overzealous sellers.

If you don't care to be on the water this year, keep waiting for that massive price drop folks have been predicting since...March 2020 :)

It's already happening...Read my followup post #13. Also a review of Boat Trader will show numerous "Price Drops" in the ads which was something unheard of a year ago.

Rising interest rates and fuel cost that has jumped 50% in a little over a year are already affecting the market. More pain is on the way.

The problem here is sellers are trying to get prices above book and above the sold comps. I don't need to be out there that bad. I'll spend the "Premium" elsewhere like growing my businesses.

Everything is cyclical.
 
Not sure what everybody is reading, but first hand from a trusted broker friend, who helped me for over 2 years during Covid, bigger boats are still in high demand. I too started looking pre-covid, and kept listening to everyone, including this broker say "wait, prices will come down and inventory will go up". I think I looked at 25+ boats. Well, that never happened so at 55 years old and who knows how many good/healthy years left in front of me I bought a great boat at the market price. 99-05 340s were selling for mid 50s to mid 60s when I started my search, and upper 90s to low 100s last time I checked.

@dvx216 , you are 61, 6 more than I was; do you really want to wait this out to see what's on the other side? In the meantime wishing you had bought the next boat? You are in a better spot than I was though since you own a boat. I sold my last one about 5 months before the Covid fiasco.
I'm happy with the 310 put would be looking not like going from a 310 to a 340 is that big of a leap.
 

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