How do you check completed auctions that have not sold? Thanks
Can someone explain blue book values?
- Thread starter RLWsnook
- Start date
How do you check completed auctions that have not sold? Thanks
Figured it out... do a search for a sea ray on ebay motors.. anything really, then go down on the left hand side to search options... in there is a box which says completed auctions.
Click that. Not sure how far back it goes.. and it doesn't go back very far I don't think... But you can find them that way as well..
Click that. Not sure how far back it goes.. and it doesn't go back very far I don't think... But you can find them that way as well..
IMHO - Value and worth are two very different things when it comes to boats.
Value may be set by what the bank is willing to loan on it and worth (to you) is set by what you are willing to pay for it. Like somebody else said cost has got nothing to do with it. If the dealer paid 10K and can sell it for 20K that is capitalism at its best. An interesting comment you said about over supply is already being addressed by Sea Ray. They been shutting down the plants that build them. IMHO - When this recession ends there is going to be a shortage of good used boats available.
You can whine about prices all you want, but in the end it is not going to mater or you can find the boat be it a Sea Ray or not and start enjoying it.:grin:
Carver370
Well-Known Member
- Mar 30, 2007
- 1,928
- Boat Info
- 2000 Sea Ray 400 Sundancer - Diesel
- Engines
- T-3116 CAT - 350 HP
As far as waiting for inventory to dry up, well what about this curveball.
If banks were lending to people who probably shouldn't have been buying in the first place, how are these boats going to ever sell? I feel there are simply not enough buyers out there that can afford to buy cash or even get financed now to buy another boat. Yes there are plenty but I can honestly say that I think there are more boats for sale than people who can afford to buy them, or at least want that particular boat and afford to buy it.
If banks were lending to people who probably shouldn't have been buying in the first place, how are these boats going to ever sell? I feel there are simply not enough buyers out there that can afford to buy cash or even get financed now to buy another boat. Yes there are plenty but I can honestly say that I think there are more boats for sale than people who can afford to buy them, or at least want that particular boat and afford to buy it.
Chuck1,
Ha I'm not whining about prices, more so trying to understand how to get the best value. Nothing wrong with that is there? I gotta figure it out what boat i'm getting, but Lake Erie is 100% frozen over right now so it doesn't look like even if I get the boat tmr that I'd be able to go out on it any time too soon.
Carver370,
I don't think banks are gonna lend to people any longer that they shouldn't have in terms of boats at least... I haven't tried to but I'm guessing you have to have great credit to get a boat loan right now...
As terms of used if there are too many boats, the price will continue to go down until people are willing to buy them.
Banks aren't used boat collectors... they are gonna sell them and take the loss and move on.
As for individuals who have to sell, it's sorta the same thing they have to sell take their losses as well.
There is a price for everything. People will always buy things they think they are going to get a deal on... and deals will continue to take place while the excess inventory is worked off. I'm not saying it will happen over night... but it will happen..
Ha I'm not whining about prices, more so trying to understand how to get the best value. Nothing wrong with that is there? I gotta figure it out what boat i'm getting, but Lake Erie is 100% frozen over right now so it doesn't look like even if I get the boat tmr that I'd be able to go out on it any time too soon.
Carver370,
I don't think banks are gonna lend to people any longer that they shouldn't have in terms of boats at least... I haven't tried to but I'm guessing you have to have great credit to get a boat loan right now...
As terms of used if there are too many boats, the price will continue to go down until people are willing to buy them.
Banks aren't used boat collectors... they are gonna sell them and take the loss and move on.
As for individuals who have to sell, it's sorta the same thing they have to sell take their losses as well.
There is a price for everything. People will always buy things they think they are going to get a deal on... and deals will continue to take place while the excess inventory is worked off. I'm not saying it will happen over night... but it will happen..
keokie
Well-Known Member
- Dec 27, 2006
- 1,486
- Boat Info
- 2002 310 Sundancer, Westerbeke 4.5 Genset
- Engines
- 496's, Bravo III's, 2.2:1 Gears
To me, boats are always a buyer's market. But right now is the best buyer's market I have seen. I just found a very nice '99 Formula 31 PC twin 454's, 400hrs, gen, air, windlass, etc. that I mentioned to a friend. We talked about how to pursue it. He bought it for 24K. Listed at 37K, it was the lowest priced one we could find in the country at the time. They chuckled at the offer.... then accepted it about a month later.
Whining may have been a bad word. I guess what I'm saying is the price is what the price at this time. I you are finding them all listed XX% over the blue book value in your area then that is what the price is in your area. As to the banks lending to people that should have not purchased hine sight is 20/20. So many have lost their jobs and/or reduction income it is a joke.
Chuck1,
Ha no worries. But as many have said the price is what is offered and accepted. That listed price and blue book doesn't matter at that point. its the deal that is made btw the buyer and seller. and based off of different circumstances it might sell for more or less.
Now as for banks and lending and people who they were lending to that they shouldn't have. You have to remember lending for boats is highly lucrative. Boat loans have what like 10% interest? For example someone who takes out an 100k loan and pays it back in 10 years is going to end up paying $158,580 .
Unlike home loans the banks weren't forced to loan to people they weren't suppose to for boat loans. Now that being said, they might have gone too far. However not nearly as far as with home loans. Also you have to factor in, that even if 1\3rd of these loans fail they are still making money... (and that's factoring in that they get 0 dollars for the boat that they got back in the repo)
unfortunately for many people, they have lost their job and haven't been able to keep up with their boat payments on top of everything else. It will likely be a lesson for some people to build an emergency fund.
