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Time to sell


ThinBuLine

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Hello all,

2000 Malibu Sportster LX -326 hours

we bought our first Malibu in February and it’s been a great first boat! We love everything about it as it’s been well maintained and In near perfect condition here in SoCal. However, the family is growing as the wife is pregnant with #2 and we are looking at getting a newer v-drive to support the growing family. 
 

I know boat prices CRAZY right now which is part of the reason we are looking to sell this one and buy the upgrade in the spring.

 

How much is too much to list it for? I’ve heard of some crazy prices but also heard $27,500 isn’t out of the realm of possibility. 
 

What’s all of your opinions? 
 

https://photos.app.goo.gl/xtWACLXPX2a34J848

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I get that’s what experienced owners like yourselves might buy it for. 
 

I’m not in a hurry to sell it and it still works for our family. Just trying to figure out what’s the most I could get it for in this current crazy market. Don’t want to leave $3,000 on the table if I don’t have to 

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I am not 100% convinced the Covid window has closed just yet, but TallRedRider is certainly right that it will close soon if it hasn't already.  I would get it listed now and see what happens.  

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Yes, anyone that knows anything will immediately skip past it at that price, probably even get a chuckle out of it. If you want it sold, price it above what it would take to make you happy and hold your line. If you want the money, price it where you said and have no expectations on the types of replies you will receive, if any.

We are selling my Dad's fishing boat. We priced it at 9k vs. the regular market value of 7k. We posted it on Sunday at 10:00am, but discovered it had a poor run condition shortly after. Worked on the basics and did some other unrelated things during the day, got it on the trailer around 3:00 (there is cell service at the ramp but not the house) and we had 15 messages on it. We replied to all of them that it had sat for a while and was running poorly so it was going in to get looked at. 3 were still very interested. Couple days later we were water testing it locally and someone at the ramp commented how nice it was. We told him it was for sale and a short time later he handed us a deposit. He picks it up next week. Could we have gotten a little more? Maybe. But it went quick and we got what we thought we should. I will say that there is only one other identical boat that we found for sale anywhere near, it has a couple of torn seats and is priced at 10k. It has been for sale for more than a month.

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12 hours ago, TallRedRider said:

There are some that may disagree with me for good reason, but your ship has sailed.  

Supply and demand are the primary determinants in any sales transaction, and now that we are headed towards late August the demand has dropped precipitously.  This spring, supply was driven by lots of people who could not travel, and needed an outdoor recreational activity.  Boat factories shut down, limiting the supply of new boats coming on the market.  The supply and demand balance tilted heavily to the demand side.  

The majority of this was driven by the virus, and there aren't many people thinking we are going to still be freaking out about the virus next April, so demand will be back pretty close to normal.  Additionally, folks who really aren't die hard boaters are going to look to unload the boats they bought for a premium.  

Many of the boats you see for sale now are people who are hoping to get top dollar, but won't for the reasons described above.  Listed price is not the same as the selling price. 

Having said all that,  it doesn't hurt to join the club and put a boat up for sale.   There is a sucker born every day....

I agree with this.   The time to sell a boat was 2 months ago, families are back focused on how to deal with online school and buckling down for the year.  On top of that a LOT of people the purchased a boat over the last three months are just realizing they have no idea what to do with it in the winter. Their shiny new toy has been sitting in the driveway or out on the street which was manageable but they realize that blocking the garage all winter isn't going to work.  I know some places around the US have cheap easy indoor storage options for boats.... others (like here in the PNW) do not.  So to do expect we will see a few more boats come on the market in the fall then normal.

Boat prices might have been a sellers market but unfortunately that means that people with old boats now think they are worth WAY more then they are.  It isnt THAT much of a sellers market. Yes, you can get top dollar for your boat "in the reasonable price range".. that does not mean you can add 30-50% above that range and expect to get it because you will find some sucker out there desperate for a boat.

Let us know how much you get for it.  I think it is going to be hard with the other LX listed on IBO being 30% less than your boat and fewer hours... and it hasn't sold yet.  Sort of an indicator on pricing.  I'd have something ready to show a buyer on how you ended up with such a high price for this boat.  I don't think "somebody told me it was worth 27.5" is going to work.  Go here https://www.onlyinboards.com/SoldBoats.aspx and select Malibu Sportster to look at sold boat prices and then try to justify $27.5 (that is what a seller is going to do.)   Then look at the other options someone has in that price range and try to justify why they would pick your boat over the other great options: https://www.onlyinboards.com/Used-ski-boats.aspx?PartMakers=true&Distance=100&PriceFrom=20000&PriceTo=30000

This was your opportunity to get a really good price (more than any other year!) for your 20 year old boat but that doesn't mean adding 30-40% to the value.  My suggestion would have been to list it at $18-19k, take somewhere between 17-19k for it and be happy you walked away with that much to put towards your new boat.

 

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I put my boat on my Dealers Lot on Wednesday.  On Friday it had a credit app on it from a prospective buyer with two others interested.  I’m expecting it gone mid week.

Friend of mine sold his last week to, did not list it.  Sold a boat back to him in 2015 and the guy wanted to upgrade this year 

Both 2020’s!!!

I think it has to do with location and economy.  Dallas / Fort is a top major metro economy right now.  Weather still above 90 and lakes full

To say the ship has sailed might be the correct representation in your local market but could also be grossly wrong in others.

 https://www.waterskiamerica.com/default.asp?page=xPreOwnedInventoryDetail&id=9322270&p=1&s=Year&d=D&t=preowned&fr=xPreOwnedInventory

 

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Brand new was 22K ish. But get what you can.

Summer is coming to an end for majority of boaters. Prices probably will be going down as people don't want to store them.

Edited by footndale
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Just now, footndale said:

Brand new was 22K ish. But get what you can.

That’s mind blowing to see that I the depreciation of these boats is so minimal due to inflation and current markets. 
 

thanks everyone for the info. Other then posting it online, does anyone do consignments for more exposure? 

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If you want to sell it list it for a reasonable price and it will be gone quick. If you are ok with keeping it, but would let it go for the right price (which it sounds like you are) list it for that price and stay firm...maybe it goes, maybe it doesn’t.

That’s what we did last month. We loved our 22 VLX but have wanted to get back into a 23 LSV. We finished up our big trips of the year and listed it high. I would have been happy either way. If I got my asking price it was considerably more than I paid for it new and if not I still had a boat I loved. 5 days later it sold for full asking price after turning down multiple offers just under my asking price.

List it and see what happens, but I do agree that demand is coming to an end. In Utah everyone uses KSL.com to sell items instead of Craigslist. Most summers there are 1800 boats for sale. This year it has been sitting at 700 boats because they would sell as soon as they are listed. The site now shows 1200 and growing each day, to me signaling that the demand is dying at least in UT.

Edited by vaporbluebu
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I think for late model boats (2019,2020), there still is some advantage to the seller, but it is also dwindling.  When I asked my dealer when I could get a new boat in posession, they suggested it could be 5-6 months.   I am not sure what the normal is this time of year, but I figured it would be less.  The  factory is still catching up to the backlog created in the spring when they were supposed to be building full speed.  

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31 minutes ago, TallRedRider said:

I think for late model boats (2019,2020), there still is some advantage to the seller, but it is also dwindling.  When I asked my dealer when I could get a new boat in posession, they suggested it could be 5-6 months.   I am not sure what the normal is this time of year, but I figured it would be less.  The  factory is still catching up to the backlog created in the spring when they were supposed to be building full speed.  

The factory shut downs are something that make me question if we'll really see a glut of boats now in the used market.    I'm not sure if the factories caught up or over-produced compared to pre-COVID plans.  If they didn't over-produce this year, I'm not sure why there would be so many more boats on the market.    I guess folks that overpaid and can't stay in them may increase the used inventory, but not due to sheer boat numbers.   

And FWIW, I was with my buddy pricing out a G25 and that particular dealer said he only had 7 build slots left for the 2021 model year.   He may be able to get more and isn't a huge dealer, but I thought that was telling.   I don't think he was just playing the "give me a deposit to hold a limited spot" game either.  

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Paid 13 for mine this summer and it has been pampered its entire 900 hours with tons of service records. I think I underpaid by 6k by what I see sell locally. 

Edited by Mb911
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3 hours ago, Mb911 said:

Paid 13 for mine this summer and it has been pampered its entire 900 hours with tons of service records. I think I underpaid by 6k by what I see sell locally. 

You got a good deal, especially if it has the Monsoon.

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My wife said we could only list ours if I basically ask stupid money.  I want to upgrade, so after our next lake vacation I will be doing just that.  If it sells, great...I can upgrade boats.  If not, no skin off my back. 

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17 minutes ago, Nitrousbird said:

My wife said we could only list ours if I basically ask stupid money.  I want to upgrade, so after our next lake vacation I will be doing just that.  If it sells, great...I can upgrade boats.  If not, no skin off my back. 

I’m in the exact same position.

 

Word for word other then the nice vacation you have coming...

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4 hours ago, Mb911 said:

Paid 13 for mine this summer and it has been pampered its entire 900 hours with tons of service records. I think I underpaid by 6k by what I see sell locally. 

Paid 8K for mine in February, It wasn’t running though but after $1500 to a local boat shop (the crew at Teague Marine in SoCal and I HIGHLY recommend them) and a day of my time cleaning, polishing and scrubbing, looks damn near new. 

 

I also put new tires on the trailer, New bearings, recarpeted the bunks, polished the oxidized chrome rims, and still need a new master cylinder... 

 

All in all, about $10,500 into it and a few days of my labor. A smokin deal if you ask me. 

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1 hour ago, UWSkier said:

You got a good deal, especially if it has the Monsoon.

Yes monsoon 340.. Would post a picture but can't figure out how to. 

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