Used Boat Prices Falling

[Slayer]

9 hours ago, IXFE said:

 

I'll throw another log on this fire...

The guy who bought my 2021 24 MXZ decided to list it for sale last week, for slightly more than he paid me two years ago.  It sold in ONE day for asking price.  I have to admit, I was shocked.  But you have to realize that the price of these boats puts them in a category that's less likely to be affected by inflation, gas prices, interest rates, and market uncertainty.  

For what it's worth, I'm seeing the same thing in the "toy" car market.  I've been casually shopping for months and I keep thinking it's going to get easier to find and buy something special.  Nope.  If you want something fun and interesting (i.e. not a battery powered appliance), it's like 2021 all over again: constrained supply, long waits, dealer mark ups, yada yada... 

I agree with this.  I've been causally looking for a toy car, as well as another rental house, and I'm seeing the same thing.  

[The Hulk]

I think we're all looking at the wrong indicators We just need look on the other side of the world to see what's coming our way in 12 to 18 months, as it typically always does.. 

[shawndoggy]

7 hours ago, The Hulk said:

I think we're all looking at the wrong indicators We just need look on the other side of the world to see what's coming our way in 12 to 18 months, as it typically always does.. 

@The Hulk wow man, that's quite a bit of specificity for you!  "the other side of the world," and vague indicators, and 12-18 months. 

So let me get this straight: 

• SOMETHING is happening in another hemisphere
• We should look at "indicators" for said SOMETHING
• That SOMETHING "typically always"** will come "our way"
• Timeframe: 12-18 months.

Running to build my doomstead now, while I still can.  By all indications we might have another wave of K-POP coming!

** I think that adding modifier of "typically" to "always"  literally translates as "not always," and is probably meant to mean "sometimes"?

Edited July 6, 2023 by shawndoggy

[Ronnie]

We’ve been hiding a few posts in this thread that are ads for selling boats. Please put your ads in the classsified section.

 

[The Hulk]

On 7/6/2023 at 5:03 PM, shawndoggy said:

@The Hulk wow man, that's quite a bit of specificity for you!  "the other side of the world," and vague indicators, and 12-18 months. 

So let me get this straight: 

• SOMETHING is happening in another hemisphere
• We should look at "indicators" for said SOMETHING
• That SOMETHING "typically always"** will come "our way"
• Timeframe: 12-18 months.

Running to build my doomstead now, while I still can.  By all indications we might have another wave of K-POP coming!

** I think that adding modifier of "typically" to "always"  literally translates as "not always," and is probably meant to mean "sometimes"?

well just about everything it's hard to find anything that doesn't happen there anymore and then come over here a year later or so.. 

that something right now is production of gizmos has come to a halt.. and will soon hit here..

Just watch what happens to the RV, + marine companies possibly this Friday or in the coming week or two, rumors have it for this week but it might be a couple weeks for the mass layoff notice and reduction of 6 days down to 4 days. rumor has it they're may even be a strike as the pay changes from rate to hourly for many in the RV and Marine sector. 

Thor big layoffs coming, Forrest River same, . crazy reaching 35% rejection rate at dealers with warranty work.

dexter axle large layoffs coming as well.. huge indicator for everything recreational basically predicts recession every time before the RV and Marine industry experience it. 

RV dropped down to 2014 levels.. boating expected to follow although interestingly the coastal market is still doing well at boats $1 million plus... This insider basically said everything under a half million is done for right now and the only thing still hot is coastal and expensive. 

70% of RVers expected to jump out of being an RVer.. used inventory expected to surge.. 

interesting that several of my past interviewees have been from these companies expressed what is going on and local shops have all heard the talk as well..

If the marine industry even somewhat follows the RV industry use inventory is going to surge over the next year and cause problem for new.. 

But who knows maybe we'll print trillions more and keep inflating.. 

 

 

 

Edited July 13, 2023 by The Hulk

[spikew919]

16 hours ago, The Hulk said:

well just about everything it's hard to find anything that doesn't happen there anymore and then come over here a year later or so.. 

that something right now is production of gizmos has come to a halt.. and will soon hit here..

Just watch what happens to the RV, + marine companies possibly this Friday or in the coming week or two, rumors have it for this week but it might be a couple weeks for the mass layoff notice and reduction of 6 days down to 4 days. rumor has it they're may even be a strike as the pay changes from rate to hourly for many in the RV and Marine sector. 

Thor big layoffs coming, Forrest River same, . crazy reaching 35% rejection rate at dealers with warranty work.

dexter axle large layoffs coming as well.. huge indicator for everything recreational basically predicts recession every time before the RV and Marine industry experience it. 

RV dropped down to 2014 levels.. boating expected to follow although interestingly the coastal market is still doing well at boats $1 million plus... This insider basically said everything under a half million is done for right now and the only thing still hot is coastal and expensive. 

70% of RVers expected to jump out of being an RVer.. used inventory expected to surge.. 

interesting that several of my past interviewees have been from these companies expressed what is going on and local shops have all heard the talk as well..

If the marine industry even somewhat follows the RV industry use inventory is going to surge over the next year and cause problem for new.. 

But who knows maybe we'll print trillions more and keep inflating.. 

 

 

 

Won’t need to print  as some countries move away from the dollar and those dollars make their way back home. Wonder how many trillions will come back and what that will do to inflation 🤷🏻‍♂️

[PrestigeLakeWide]

Throwing a log on @The Hulk's fire.. This thread has been too entertaining to let die.

[ChadFulton]

Lol - buying our first RV this afternoon. 2015 Winnebago Brave 26a. 8200 miles for $48k. MSRP in 2015 was $98k.

Seems like a screaming post-COVID deal to me, but I'm knew at this so who knows  

[rennis]

I can tell you from shopping for a used truck right now that used truck prices aren't following any potential trends in boats some people here are seeing.

[CaptainMorgan]

There are at least 2 nice, large, late model surf boats in my area that i remember seeing for sale this spring and they have come down significantly -- one was originally listed >$205k and now at $180k, and another was originally $180k and now $149k. 

anecdotal yes...but inventory at local dealer hasn't seemed to move much either (they still have some 2022's that have been listed probably close to a year now).  i suspect a shopper right now won't have much competition and people may finally be willing to deal, but ICBW  

 

[NorCalSurfer]

The Nautique dealer by me has a 2021 GS22 Electric for $130,000. Only 43 hours. They dropped it from $250,000. Even in CA no one wants an E. 

[COOP]

On 7/2/2023 at 6:06 AM, bcoppess23 said:

https://www.wvlt.tv/2023/07/01/employees-say-mastercraft-is-laying-off-dozens/?fbclid=IwAR2Y796P6u5kC2d5qFgatUWG4esN7Ow5fny3UnOUiq2jG9VLCU0Uc4jFzIw_aem_AdnAKgAiS5LHDHG9LM7Yct80eXzEayC0kP8ocwJTtRWOLac5jL982NVfq-MxMGfv7WY#ljlbnmdxft4qhpqzxcg

I heard MC, Centurion, Skiers Choice, all of em laid off half of their work force.

Heard one of them (Tige I think) was building only 1 or two a day.

Edited July 25, 2023 by COOP

[The Hulk]

just the beginning.... 

but ill try to refrain from my "non factual"  info. 

ohh the optimism of CEO propaganda. gotta love cheerleader talk. 

16 hours ago, PrestigeLakeWide said:

Throwing a log on @The Hulk's fire.. This thread has been too entertaining to let die.

haha love it! 

[Hemmy]

https://www.wndu.com/2023/07/25/grand-design-rv-lays-off-over-150-employees/

There have been major layoffs in the RV and marine industry around me.  On top of the layoffs, week to two week long shutdowns are not uncommon.  It is funny though, we are getting hit hard where I am at, but doesn't seem to be hitting the rest of the country the same.  In the past, when the RV industry slowed, the rest of America slowed fairly quickly afterwards.
I think you will start, if you haven't already, seeing some deals on new leftover boats.    

Edited July 26, 2023 by Hemmy

[pauley71]

Malibu typically offers rebates in the Nov/Dec timeframe but now we are seeing them having to offer them to get rid of 2022 (gulp) and 2023's o make room for 2024s.  Its says some models are excluded .. anyone know which ones?

 

[bcoppess23]

15 hours ago, COOP said:

I heard MC, Centurion, Skiers Choice, all of em laid off half of their work force.

Heard one of them (Tige I think) was building only 1 or two a day.

I've heard similar and there is still more inventory sitting on my local dealers showroom than pre-covid - thankfully for them it is only '23 MY.  However, was with another dealer this past week that had '22 Nautiques still available.

[oldjeep]

29 minutes ago, pauley71 said:

Malibu typically offers rebates in the Nov/Dec timeframe but now we are seeing them having to offer them to get rid of 2022 (gulp) and 2023's o make room for 2024s.  Its says some models are excluded .. anyone know which ones?

 

Up to 15K isn't really all that impressive given the price of new boats.  What is that 5-7% on the most expensive ones?

Edited July 26, 2023 by oldjeep

[pauley71]

1 hour ago, oldjeep said:

Up to 15K isn't really all that impressive given the price of new boats.  What is that 5-7% on the most expensive ones?

But a rebate doesn't come out of the dealers pocket so its on top of the discount you can get from the dealer. 

Your example is intended to make the rebate insignificant; however, its really more like 10+% on a 23 LSV (the largest seller where a majority of buyers shop).

[oldjeep]

17 minutes ago, pauley71 said:

But a rebate doesn't come out of the dealers pocket so its on top of the discount you can get from the dealer. 

Your example is intended to make the rebate insignificant; however, its really more like 10+% on a 23 LSV (the largest seller where a majority of buyers shop).

Yeah, but I ASSUME that the 15K max rebate would be on the 200K+ 2022 model boats and a 2023 - 23 LSV would have a rebate far lower than that.

[klntime]

i know a dealer near me is getting more aggressive with pricing.  for example, 2022 23 MXZ ($135K)  2022 23 lsv, very well optioned plus M6 etc (139K).  A good amount of 2023's left on showroom floor.  Certainly seems the tide is turning a bit. 

[Raleigh]

Interesting to see the chart in the attached article. Looks like all recreational sales are down but well above 2019 levels.

"If I was just looking at RV data, I would be screaming recession," said Michael Hicks, an economics professor at Ball State University in Indiana who tracks the industry, adding that pullbacks in RV shipments have signaled every U.S. recession since 1981. But the glut created by a rare event like the pandemic may have skewed the normal picture, he said.

https://www.reuters.com/business/autos-transportation/rv-industry-steers-through-post-pandemic-us-slump-2023-07-25/

[Bozboat]

I could not determine if the $175k was before or after the $52k BSD, so I kept walking.

[redrooster]

I am in an industry that  manufacturing have laid off hundreds last week.  

One laid off 400 the other 350.  Foot traffic at retail stores is down 20-40%.   Its not good. And now we are approaching  the slow part of the season. 

Good friend is in construction supply.  Down 5-10% across the board, and he's one of the better warehouses.  The nice thing is that vacation hot spots have tons of openings for reservations!!! 

[pauley71]

1 hour ago, Bozboat said:

I could not determine if the $175k was before or after the $52k BSD, so I kept walking.

That look like less than 25% which is not a great deal in this market (orig MSRP of 227k).

[The Hulk]

at least we're not in recession 🤣 

 

Edited July 27, 2023 by The Hulk