Used Boat Prices Falling

[The Hulk]

21 hours ago, shawndoggy said:

Interesting perspectives!  For the grinders out there who do a little better in an up economy and a little worse in a down economy, things aren't looking THAT bad (def not like 08 in my hood, but Nevada was ground zero back then).  However, for the people in my social circles who do VERY VERY well in the up economy and VERY VERY badly in the down economy... blood seems to be in the water.  I'm thinking of residential real estate agents and mortgage brokers mostly.  Ouch, those folks gonna be hurting.  I suppose that the same will be true for folks in @Hulk's circles who did crazy well with RV manufacturing in the past few years and are now seeing that winter has arrived.

Winter is coming! .. no wait.. 

 

[The Hulk]

21 hours ago, oldjeep said:

Pretty much anything associated with the mortgage industry is a problem right now.  I've got a relative who runs a big refi processing group and that will be a source for a lot of job loss.

Also consider all the NON-BANK lenders and the blood bath coming.. rocket/quickin types. 

Those lenders can quickly go bust in such environments. Bail outs here we come.. again..😂

[The Hulk]

16 hours ago, mxmark4 said:

My boat left last night with its new owner. Sold it for more than I paid like one would hope to do. Got a new boat loan ready to go @ 6.99% before fed increased rates again Wednesday. In the event I find another one thats a deal.  But theres no way I am gonna pay the prices folks are asking around here. I live at ground zero for most wake boat manufacturers( knoxville, tn) and theres so much out here that a deal will pop up sooner than later.  Either way my season has wound down, doing a nightshift weekend only contract has taken away all my lake time anyways so Im  gonna hold my cash and see what happens in the next few months. 

Wow you sold high pretty late in this game congrats! Things are falling fast! How long are you locked in?  

IMO Discounts/rebates will start to fly after boat shows turn up dissapointing #s, and spring sales slump "more than expected"..

Or rephrasing in CEO lingo.: " Our strategic moves are paying off as our supply is now in line with demand " 😂

 

[wedge88]

All I know is we ordered our last boat on today's date and when we were at the dealer they had zero boats inside, and 2-3 Malibu/Axis boats on the lot that were already sold.  Right now they have 4 boats inside and probably another 20ish '23 models and a handful of '22 models in stock so as they get aggressive to move them, it will push used prices down but I still don't think it will get back to pre-covid figures for some time.  

[The Hulk]

8 hours ago, wedge88 said:

All I know is we ordered our last boat on today's date and when we were at the dealer they had zero boats inside, and 2-3 Malibu/Axis boats on the lot that were already sold.  Right now they have 4 boats inside and probably another 20ish '23 models and a handful of '22 models in stock so as they get aggressive to move them, it will push used prices down but I still don't think it will get back to pre-covid figures for some time.  

Pre COVID figures?.. sorry nobody will see that on anything.. pricing on everything will eventually settle in around 40% higher than it was pre covid.. Fed printed and diluted everybody's Dollar by about 40% currently... And sadly not all that money has worked its way through the system yet still a lot of pain to be had on increasing especially on necessities... I wager my bet you'll see a minimum 20% food price hike between now and summer as well as natural gas

 

Edited September 23, 2022 by The Hulk

[justgary]

On 9/22/2022 at 7:55 AM, shawndoggy said:

I'm not ready to put all of my assets into bicycle parts and ammo quite yet.

Who needs bicycle parts when they have plenty of ammo?

[shawndoggy]

33 minutes ago, justgary said:

Who needs bicycle parts when they have plenty of ammo?

to barter for goods and services?  You can't shoot everyone.

[justgary]

1 hour ago, shawndoggy said:

to barter for goods and services?  You can't shoot everyone.

I would imagine that you don't need to shoot them if they don't have bullets.

Bullets probably make the best currency anyway if you want to barter.

[Steve B.]

I don't see the value of these boats changing much for a long time. Still amazes me how much they do hold their value over time. Whether you hold on to it for 1, 2, 15 years doesn't matter. The most expensive repair on my boat has been a fuel pump. Unbelievable for a sport/hobby/toy expenditure.

Steve B.

[Badger]

I decided to get out of my car "toys" going into winter for a few reasons:  1. When my daughter left for college, we had 5 cars for 3 drivers. 2. I believe the used car market is about to "crash".  3. My company is going through an ownership change and have already let go a couple of people at my level.  4.) I get bored and will be ready to try something different.

I sold my Miata to Carvana for $5k over (~40%) what I paid for it 2 years ago.  I offered it to my local dealer at the same time and he laughed and told me I should race to Carvana at that price.  I just checked and they currently have it listed for $900 over what they paid me and have 176 Miatas for sale.  That's not going to end well for them.

I also sold my 2022 Bronco to an out of state dealer for ~$9k over MSRP.  They've had it listed for $2,800 more than what they paid me for 3 weeks now.  Again, I don't think this was part of their business plan.

For used cars, I firmly believe the downturn is here.  People who bought luxury or sports cars at or over MSRP are quickly going to be underwater.

[oldjeep]

So what I am hearing is that it is time to start looking more often for that Ducati I have been wanting;)

[The Hulk]

7 hours ago, oldjeep said:

So what I am hearing is that it is time to start looking more often for that Ducati I have been wanting;)

Plenty of deals will be had over the next 2yrs! get the one you want!!! 

[Slayer]

9 hours ago, oldjeep said:

So what I am hearing is that it is time to start looking more often for that Ducati I have been wanting;)

I'm listening....what are you after???  I love my bagger, but can't stop thinking about a sportier bike.  

[oldjeep]

On 9/24/2022 at 4:44 PM, Slayer said:

I'm listening....what are you after???  I love my bagger, but can't stop thinking about a sportier bike.  

Supersport.

Edited September 26, 2022 by oldjeep

[RyanB]

I'm not of "the sky is falling" mindset, but uncertainty at work motivated me to list my 718 Cayman.  Took a deposit today and will sell it for $5k more than I bought it for 2 years ago.

I don't drive it in the winter anyway.  Hopefully I will be back in the market come spring.  

[The Hulk]

Oddly just got word from 2 different folks that one of the worlds largest hardware chains has some odd things on thier forecasting books & planning.. The  board members and economic advisors are estimating a recession over next several few years and are actually planning on a depression starting around 2025/2026 timeframe.

Crazy 😧

[minnmarker]

On 9/24/2022 at 4:44 PM, Slayer said:

I'm listening....what are you after???  I love my bagger, but can't stop thinking about a sportier bike.  

Honda VFR.  Sporty but more comfortable than the 600s and Liter bikes.  I had one for 7 years.

[justgary]

On 9/24/2022 at 7:14 AM, oldjeep said:

So what I am hearing is that it is time to start looking more often for that Ducati I have been wanting;)

This 2023 is cheaper than the used ones I see....

https://www.cycletrader.com/listing/2023-Ducati-SuperSport-950-Ducati-Red-5023219728

[oldjeep]

1 hour ago, justgary said:

This 2023 is cheaper than the used ones I see....

https://www.cycletrader.com/listing/2023-Ducati-SuperSport-950-Ducati-Red-5023219728

The more expensive ones are likely 950 S model - upgraded suspension and a few other goodies.

 

[oldjeep]

12 hours ago, minnmarker said:

Honda VFR.  Sporty but more comfortable than the 600s and Liter bikes.  I had one for 7 years.

Coming from a bagger, lots of stuff will be sportier.  FJR1300 is also a good choice.  Plenty sporty, and very comfortable.

[Slayer]

1 hour ago, oldjeep said:

Coming from a bagger, lots of stuff will be sportier.  FJR1300 is also a good choice.  Plenty sporty, and very comfortable.

My bagger rips.  I've had a bunch of work done on it. I like the FJR, but it's not the bike for me.  The problem with motorcycles is the same with boats.  There's no single one that scratches all the itches.  I have a trail bike in addition to the bagger.  I've been drooling over naked sport bikes lately, but I don't see myself buying one in the near future. 

 

[Ronnie]

You guys should start another thread for your bikes, lets get this one back on topic please.

[oldjeep]

21 minutes ago, Ronnie said:

You guys should start another thread for your bikes, lets get this one back on topic please.

Fair enough

Local dealer still has 14 new 2022s.  Our season here is basically over

https://mninboard.com/new/

Edited September 26, 2022 by oldjeep

[granddaddy55]

13 hours ago, oldjeep said:

Fair enough

Local dealer still has 14 new 2022s.  Our season here is basically over

https://mninboard.com/new/

werent they all in a homecoming parade? 

[The Hulk]

Watch the boat demand start to fall quickly now as gas starts rising to $5+gal. Many folks holding out are going to throw in the towel quickly on such a payments especially over winter. We will approach 6Mbpd shortage in supply and SPR is about out of steam folks.. NOT good!!! 

We're on the verge of another 08 just on vehicle loans/bad debt that nobody is talking about. In 08 the avg home loan was only about double what some avg car loans are today and some household have two car loans! IMO you can bundle boats/RVs into these loans. Lots of over paying and many will be under water very soon and start to dump these luxury items as living costs continue to soar to the moon over next 6-9months.

Inflation still went UP a tad even as gas dropped significantly during last report. Gas starting to climb quickly now, also add in the nat gas increases over this month? Inflation will go significantly higher and fed will have to keep rate hiking higher than expected..

Boat car loans will surely fall off planet earth. Easy to buy a $150-250k boat when interest is free.. when loans approach 8-12% next year what will happen to demand on vehicles let alone new 6-figue boats? I mean you might be able to rent a wake boat cheaper than the interest payments alone 😂

Just got notified our nat gas is going up another 12% .. and most folks don't realize that will happen again very soon.