Price of Used Boats coming down?

[royalpiper]

The chatter at the marina and also anedoctally confirmed by local for sale listings is that it seems that the asking prices of used boats in the NJ shore area are down a bit.
The price of fuel and the end of Covid restrictions are playing into this.
I'm seeing listings for circa 1995 to 2005 Sea Rays at what seem to be fairly reasonable prices.
Are you seeing the same in your area?

 

[Fill Ess]

Overall I see them coming down a bit ... then again I'm only looking at a couple of models about the same age and size (15 yrs old, 34-36 feet long). Now that the season is starting, there are quite a few more on the market than there over the winter. And always a few way over-priced, but the reasonable ones are alaready pending.

 

[Jus Cruisin]

May will be the month to see what's going on with pricing in the Great Lakes area. Still not much new available so the nice used ones will still command top dollar.

 

[Golfman25]

I think the jury is still out. Sellers seem to be asking insane pricing. Buyers seem to be holding off.

 

[Stee6043]

Perhaps what you're seeing is the two boat owners getting a bit desperate as the season is now upon us?

In the 40-48' range on the Great Lakes there is still almost no inventory. Nothing new showing up, ever. There's no reason for prices to relax...

 

[copb8tx]

From a small boat perspective, just this weekend, I just sold my 2011 Four Winns H240 for $7K more than I paid for it less than 2 years ago when there was no inventory back then. Listed last Sunday and had multiple buyers in line at full list price. The winning buyer droving all the way down from St Paul, MN to Dallas to pick it up on Saturday. From what I heard from everyone who contacted me is that availability of good, well maintained boats of that size is minimal.

 

[Joe Zumpf]

Starting to see boats listed for longer, but prices are still pretty high here in the great lakes. I do know fuel prices had quite a few people not splashing their boats at the marina I just moved to, people may be hesitating right now with inflation, interest rates, and fuel prices.

Time will tell.

 

[quality time]

I spoke with a broker this weekend and he doesn't see anything changing for quite awhile until new boat lead times comes down.

 

[TTG]

I spoke with a broker this weekend and he doesn't see anything changing for quite awhile until new boat lead times comes down.

This is also what I’m seeing.

At the marina I’m at (they sell boats too) they’ve basically sold all their used inventory and continue to look for more trades/brokered boats….since many boat builders are way out in terms of leads times…and let’s face it…the price of any new boat is insane. Despite fuel prices that could be propping up used prices.

 

[Fill Ess]

This is also what I’m seeing.

At the marina I’m at (they sell boats too) they’ve basically sold all their used inventory and continue to look for more trades/brokered boats….since many boat builders are way out in terms of leads times…and let’s face it…the price of any new boat is insane. Despite fuel prices that could be propping up used prices.

Also a good point. There's hardly any inventory of slightly used boats either.

 

[Woody]

My insurance company told me boat values have dropped. They lowered my agreed value 32%, I've got to talk to them because I don't agree. Interestingly the premium only dropped 14%.

 

[Jus Cruisin]

My insurance company told me boat values have dropped. They lowered my agreed value 32%, I've got to talk to them because I don't agree. Interestingly the premium only dropped 14%.

Exposure management not values dropping....

 

[Woody]

Exposure management not values dropping....

So what does it mean? Is the insurance company getting out of boat policies?

 

[Blueone]

I was talking to a boat guy yesterday and he said mine was worth $325k. Right or wrong to say such a high price tells me pricing is still whacked

 

[Shenanigans77]

I was talking to a boat guy yesterday and he said mine was worth $325k. Right or wrong to say such a high price tells me pricing is still whacked

No service records. Im only offering 100k. Cash.

 

[Stee6043]

I was talking to a boat guy yesterday and he said mine was worth $325k. Right or wrong to say such a high price tells me pricing is still whacked

You taking beer breaks from your wax job already @Blueone

 

[Blueone]

You taking beer breaks from your wax job already @Blueone

No …. I had a shitty weekend at work… everything kept breaking. So leaving tomorrow morning for the boat

 

[Golfman25]

I was talking to a boat guy yesterday and he said mine was worth $325k. Right or wrong to say such a high price tells me pricing is still whacked

I am thinking a lot of Brokers are playing into the hot market thing to get listings. I have watched one, an older welcraft listed high, now change brokers. New broker is higher than the old one.

 

[Pirate Lady]

My insurance company told me boat values have dropped. They lowered my agreed value 32%, I've got to talk to them because I don't agree. Interestingly the premium only dropped 14%.

How the hell can they drop an “agreed” value without you agreeing to it? That is pure bullshit on their part.

 

[Pirate Lady]

No …. I had a shitty weekend at work… everything kept breaking.

You work on a boat?