New & Used Boat Prices are Firming

dpmulvey said:
Not a chance. Unemployment up. Housing forclosures continue. No clear evidence of which direction Bush tax cuts are going to go. The final nail in the coffin is E-15.
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Exactly! They must be reading from the "great one'"'s teleprompter! With the unemployment rate climbing and boat loans defaulting, how can they assume used boat sale prices are stabilizing:huh: The same thing is happening in my business. Banks are taking back luxury buses and short selling the crap outta them and it's really killing the value of all the others:smt021
 
NADA raised the value on my boat from the spring time - about 10k. I do see more boats being bought in my marina. Some pretty nice ones.
 
skolbe said:
NADA raised the value on my boat from the spring time - about 10k. I do see more boats being bought in my marina. Some pretty nice ones.
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I noticed the same thing on my which is one year older than yours. "On paper" it's worth more than I paid for it but I didn't have anyone come to the dock and offer me that price!:wink:
 
320Bob said:
I noticed the same thing on my which is one year older than yours. "On paper" it's worth more than I paid for it but I didn't have anyone come to the dock and offer me that price!:wink:
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Hey, we can have fun bragging about our boats going up in value... The 320 must be Sea Ray's best boat ever - because the value is going up..
 
The value is what someone is willing to pay for it and what someone is willing to sell it for.

"firming" prices does not necessarily mean brisk sales. It could mean people are not willing to give boats away. Take a look at the pricing indicated in the Annapolis boat show thread.
 
Nothing changing around here. The only boats that sell are the ones that go at give away prices. Anything else just sits on the market. I know of some boats around here that have been for sale for two seasons now, with a third coming this spring.
 
Most of the boats I looked at last winter are still on the market. they're not coming down in price though. When I was doing research last year, popular models had about 3-4 years of inventory. I'm not sure if it's dropped or increased since last year.
 
At least in my neck of the woods our sales have been within 10% of the asking prices the past 2 months. Owners are not dropping their pants and apparently some buyers are being realistic about a boat that they want.

In my PERSONAL experience all of the nice repos or boats that are still being given away are mostly junk. They have sat so long that when people go look at them they realize for what it would take to bring it back they can buy one thats turn key.
 
If we say it often enough, someone may come to believe it. No way is the economy getting better.

I'm a bankruptcy attorney and I can't count the number of boats we've surrendered to the lenders this year.

Gene
 
I have been in the market for something larger. Some of the brokers are calling me back saying owners (not banks) are getting desperate. One in particular is a 2002 380 I was considering, turn-key in immuculate condition, for right at 100k. Was 125k + when I first looked into, but now owner needs to sell... Not the right time for me, but probably a good deal for someone...

Still think some of the repos can be had for much less than advertised and with a little sweat equity you can get much more foot per dollar... ( Speaking from experience, as I purchased (stole) my 310 with two cracked blocks from a Winter repo job becuase bilge heater does work well when not plugged in to AC. Buddy and I dropped in two new long-blocks for about 1/10 of of what bank had estimated for repairs.
 
I agree, there are some bargains left in the market depending on what boat you're looking for. but the majority of dirt cheap great boats are already gone. what's left is the dregs mostly. Once in awhile I'll see a fantastic boat at a good price (not free).
 
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I was talking the the Grand Banks guys at a boat show last month and they said they finally sold a boat at a boat show. They haven't sold one in 3 years.
 
It seems to me that the prices are firming, but new boat sales are flat. It will be a very long time before we will see new boat sales pick up. I think some of boat boat manufacturers will be going out business soon. As the supply of good used boats drops, the prices will go up. What I don't like, is in 10 years from now when I want to move up to a 2010 or 11 boat, there won't be any to buy...
 
New boat prices are very high. When you read essentially a 280/290 Sundancer new having a list price of $230k (Now called a 310) - Yet you can buy very nice 280's in the 40k to 70k range. It is hard to justify new with the huge price delta's. I understand some Marine Max dealerships are beginning to stock Bayliner.
 
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