Used Boat Prices Falling

[SaskBoater]

Yes more selection in BC,  but not interested in closed bow, and am waiting for older V drive it takes time but a unicorn will appear eventually

[majr808]

NADA Values continue to drop. Base 2015 LSV low retail $71,690 today, was $78,320 back in November and $84,910 in September. Keep seeing more reasonable priced boats in my area. 

[Mb911]

Well I am not seeing price drops in my area. Sold a boat for 5 k more than I paid for it 3 years ago. Paid that same 5k more for the boat I bought to replace the one sold that would have been that 5 k less 3 years ago. Maybe the high end boats are softening as in 5 or so year old max. 
 

was at the local marina yesterday and they mentioned how recently there was a dealer meeting where there was discussion about starting to slow down on all the bells and whistles as they not as in demand as manufacturers thought as most people want to turn the key and the boat to work. The marina owner mentioned a shift from manufactures is coming 

[rennis]

What I've heard on new boat sales is that some manufacturers are encouraging dealers to pass savings from manufacturing on to customers but that many dealers are not and are keeping prices high. And some manufacturers are not too happy about this - and are sternly advising dealers to compete aggressively in their markets, stop pocketing margins that should be transferring as savings to the customer, and fight for market share and customer base.  There isn't much hand-wringing about the economy or financing.  Just good old-fashioned business and sales.  

[kstateskier1]

18 hours ago, shawndoggy said:

2025-2015=9?

(a boat produced in june of 2023 is a year old come september)  Doesn't make a lot of sense, but it's a "last year's boat" at that point. 

Or to say it another way, the 2025 that will be produced in july 2024 is gonna be a 2025, just like the boat produced in June 2025 will be.  Nobody is gonna check the production date when determining how "old" the boat is.  To the market, a "fresh" 2025 is still gonna be the same age as an "old" 2025 10 years from now.

We've spent way too much time on this, but did he not say he was buying a '16?  Do we need the VIN so someone can win the argument on what the build month was?

[smuurph84]

1 hour ago, kstateskier1 said:

We've spent way too much time on this, but did he not say he was buying a '16?  Do we need the VIN so someone can win the argument on what the build month was?

I need to check mine!! I lost a bet to my wife where I promised to keep the boat for 10 years! Fingers crossed I’m about to be paroled a year sooner !  Lol

[shawndoggy]

2 hours ago, kstateskier1 said:

We've spent way too much time on this, but did he not say he was buying a '16?  Do we need the VIN so someone can win the argument on what the build month was?

[sidekicknicholas]

3 hours ago, kstateskier1 said:

We've spent way too much time on this, but did he not say he was buying a '16?  Do we need the VIN so someone can win the argument on what the build month was?

I looked at the HIN.
Boat was built in 2015 but is a 2016....  at its worst you could say its 8 years old, to 99% of the world its 7 years old.  Either way, it isn't 10.

[spikew919]

Not sure some people know when next summer is.  Hmmm. It’s not currently summer. So the next official summer is by definition to begin June 21st 2023 here in the USA. 

[justgary]

1 hour ago, spikew919 said:

Not sure some people know when next summer is.  Hmmm. It’s not currently summer. So the next official summer is by definition to begin June 21st 2023 here in the USA. 

Dang.  It's 80*F here at 6 PM tonight.  It'll be too hot for summer by late June!

[The Hulk]

My feedback from past few weeks.

there was a meeting of a core 20 group of boat dealers that all canceled taking any inventory for their Q1 and on and has spooked several of their brand manufacturers.. 

Many regional banks have stopped financing floor plans for vehicles of all types.. probably doesn't help that every regional bank in the US basically bankrupt on unrealized losses.. I have Not heard of any boat dealers that have been refused yet only reductions.. 

the repo man is back on used vehicles (cars) as well. Boats who knows.. could be great used prices but probably not till next season at soonest or the following season. They have only dropped marginally here from what ive seen But they're ridiculous overpaying has surely stopped. 

 

Boat lift + dock supplies are averaging down 30-55% currently.. pretty good indicator of what boat sales are down if I had to guess..  Boat lift sales are lagging indicators of boat sales (always an afterthought) however, docks and other smaller ticket accessories are not as people tend to buy the cheaper items if they're not buying the more expensive ones.. layoffs have started in Marine supply sector already. Optimism has changed and is changing by the week only going lower.. 

interestingly used boat lifts are getting revamped and some dealers have lower used inventory now as they are significantly cheaper than new..  varies by region for sure but one storyline is the same: Every biz is cash broke and sitting on way to much inventory thats not moving as fast as thry thought even with a downturn. 

Interesting convos with some boat sales folks. "The financing buyers are GONE, ie the majority of (rich) ppl buying wake boats and mid range pontoons while cash buyers (wealthy) are still out there but are being picky.. they want a deal, and are willing to wait." 

as mentioned months ago id bet the boat mfgs will soon be laying off 30% in near future. they always follow thr RV sector which is already being crucified. 

Look to companies that are owned by private equity to make the decisions much faster than privately owned companies over thr next few months.

Talked to friend in semi/tech.. projections went from 1.4B, to 1.1B, to revised 0.8B, they eliminated 10% a few months ago then another 26% staff just now to fall in line with revenue so wall St doesn't punish them.. point is their estimates keep getting revised lower and they no longer see an uptick until later 2024 now.. yikes.

world's largest hardware chain had corporate meeting, they pay big bucks for analysis guru's.. They put in an immediate hiring freeze, and all retirees jobs must be consolidated into an existing position. Their board meeting discussed that nobody is buying Grills or power tools anymore sales dropped off a cliff and consumers are flat out broke. Their analysis said inflation will remain at government 4-5% range for several years which they said means a real 10% inflation rate for the next several years which will result in a depression at lastest by end of this decade but likely sooner.. Creepy they are Planning on it!

i think it will be interesting because if inflation stays that high will used prices actually drop as much as we think in dollar amounts vs the devaluation dollar amount? food for thought.. 

 

 

 

 

 

 

 

[IXFE]

1 hour ago, The Hulk said:

My feedback from past few weeks.

there was a meeting of a core 20 group of boat dealers that all canceled taking any inventory for their Q1 and on and has spooked several of their brand manufacturers.. 

Many regional banks have stopped financing floor plans for vehicles of all types.. probably doesn't help that every regional bank in the US basically bankrupt on unrealized losses.. I have Not heard of any boat dealers that have been refused yet only reductions.. 

the repo man is back on used vehicles (cars) as well. Boats who knows.. could be great used prices but probably not till next season at soonest or the following season. They have only dropped marginally here from what ive seen But they're ridiculous overpaying has surely stopped. 

 

Boat lift + dock supplies are averaging down 30-55% currently.. pretty good indicator of what boat sales are down if I had to guess..  Boat lift sales are lagging indicators of boat sales (always an afterthought) however, docks and other smaller ticket accessories are not as people tend to buy the cheaper items if they're not buying the more expensive ones.. layoffs have started in Marine supply sector already. Optimism has changed and is changing by the week only going lower.. 

interestingly used boat lifts are getting revamped and some dealers have lower used inventory now as they are significantly cheaper than new..  varies by region for sure but one storyline is the same: Every biz is cash broke and sitting on way to much inventory thats not moving as fast as thry thought even with a downturn. 

Interesting convos with some boat sales folks. "The financing buyers are GONE, ie the majority of (rich) ppl buying wake boats and mid range pontoons while cash buyers (wealthy) are still out there but are being picky.. they want a deal, and are willing to wait." 

as mentioned months ago id bet the boat mfgs will soon be laying off 30% in near future. they always follow thr RV sector which is already being crucified. 

Look to companies that are owned by private equity to make the decisions much faster than privately owned companies over thr next few months.

Talked to friend in semi/tech.. projections went from 1.4B, to 1.1B, to revised 0.8B, they eliminated 10% a few months ago then another 26% staff just now to fall in line with revenue so wall St doesn't punish them.. point is their estimates keep getting revised lower and they no longer see an uptick until later 2024 now.. yikes.

world's largest hardware chain had corporate meeting, they pay big bucks for analysis guru's.. They put in an immediate hiring freeze, and all retirees jobs must be consolidated into an existing position. Their board meeting discussed that nobody is buying Grills or power tools anymore sales dropped off a cliff and consumers are flat out broke. Their analysis said inflation will remain at government 4-5% range for several years which they said means a real 10% inflation rate for the next several years which will result in a depression at lastest by end of this decade but likely sooner.. Creepy they are Planning on it!

i think it will be interesting because if inflation stays that high will used prices actually drop as much as we think in dollar amounts vs the devaluation dollar amount? food for thought.. 

 

 

 

 

 

 

 

Click here

[sidekicknicholas]

“

Boat lift + dock supplies are averaging down 30-55% currently.. pretty good indicator of what boat sales are down if I had to guess..  Boat lift sales are lagging indicators of boat sales (always an afterthought) however, docks and other smaller ticket accessories are not as people tend to buy the cheaper items if they're not buying the more expensive ones.. layoffs have started in Marine supply sector already. Optimism has changed and is changing by the week only going lower.. ”

 

 

This doesn’t track with what I’ve heard from my brother who owns a dock/lift company and sells for a few brands.  He has told me that for Floe and Voyager he is sold out for the summer right now besides his display units.  When we spoke over Easter he said any order he gets for the rest of 2023 wont be delivered til 2024.  He did say where in 2021-22 he was getting sticker price for everything, this year he was back to offering 10% off.  

Luckily I bought a lift a few months back assuming I would get a boat.

[The Hulk]

5 hours ago, sidekicknicholas said:

“

Boat lift + dock supplies are averaging down 30-55% currently.. pretty good indicator of what boat sales are down if I had to guess..  Boat lift sales are lagging indicators of boat sales (always an afterthought) however, docks and other smaller ticket accessories are not as people tend to buy the cheaper items if they're not buying the more expensive ones.. layoffs have started in Marine supply sector already. Optimism has changed and is changing by the week only going lower.. ”

 

 

This doesn’t track with what I’ve heard from my brother who owns a dock/lift company and sells for a few brands.  He has told me that for Floe and Voyager he is sold out for the summer right now besides his display units.  When we spoke over Easter he said any order he gets for the rest of 2023 wont be delivered til 2024.  He did say where in 2021-22 he was getting sticker price for everything, this year he was back to offering 10% off.  

Luckily I bought a lift a few months back assuming I would get a boat.

you bring up a a point. i should clarify that mfgs are down more than the dealers are. most dealers had excess inventory left over from last year from over ordering or receiving mfg backlog/back orders late in the season. A lot of backlog was received so late in the season it was put off untill this year for install. ie the mfg booked sale last year and dealer/installers are booking the sale this season. 

either way the trends are down, some are still above pre pandemic and others have dipped below pre pandemic. The cheaper brands are down less % than higher end brands. 

its like a super slow motion train wreck thats taking forever 😂

 

[Ronnie]

18 minutes ago, The Hulk said:

 

its like a super slow motion train wreck thats taking forever 😂

 

Hmmm, this reminds me of a member of this forum… 

[Five Cent Worth]

21 hours ago, rennis said:

What I've heard on new boat sales is that some manufacturers are encouraging dealers to pass savings from manufacturing on to customers but that many dealers are not and are keeping prices high. 

This is true.  If the boat builders are mad, uncertain of this.

[Five Cent Worth]

On 4/18/2023 at 1:34 PM, granddaddy55 said:

pretty accurate generational comment.  so why the eye roll.  my first boat note was 8% in 1985 (ok yes it was only $8000 😂, first car note 11% in 1983) , which made me avoid such non sense in the future. i currently have a boat note at 4.49% but on original loan amount of $102k with 60 down.  luv the boat but i feel foolish even at that rate.  if you really want a used toy its perfect time to negotiate price and accept the rate.  since most currently jettison their notes at ridiculously low rates regularly by selling it shouldn't make a difference except now you lose money on sale. it couldn't last forever these ridiculous rates snd i never buy a boat with the intention of selling it, why buy in the first place, pay your wake buddy to go on his

Just trying to keep in light around here.  Appreciate your advice Grand Daddy.... 

I guess I was saying what normal is to each is different.  Correct, our loans at 4.5 aren't normal but either are rates in the early to mid-80's....

[Jhucke]

14 hours ago, The Hulk said:

My feedback from past few weeks.

there was a meeting of a core 20 group of boat dealers that all canceled taking any inventory for their Q1 and on and has spooked several of their brand manufacturers.. 

Many regional banks have stopped financing floor plans for vehicles of all types.. probably doesn't help that every regional bank in the US basically bankrupt on unrealized losses.. I have Not heard of any boat dealers that have been refused yet only reductions.. 

the repo man is back on used vehicles (cars) as well. Boats who knows.. could be great used prices but probably not till next season at soonest or the following season. They have only dropped marginally here from what ive seen But they're ridiculous overpaying has surely stopped. 

 

Boat lift + dock supplies are averaging down 30-55% currently.. pretty good indicator of what boat sales are down if I had to guess..  Boat lift sales are lagging indicators of boat sales (always an afterthought) however, docks and other smaller ticket accessories are not as people tend to buy the cheaper items if they're not buying the more expensive ones.. layoffs have started in Marine supply sector already. Optimism has changed and is changing by the week only going lower.. 

interestingly used boat lifts are getting revamped and some dealers have lower used inventory now as they are significantly cheaper than new..  varies by region for sure but one storyline is the same: Every biz is cash broke and sitting on way to much inventory thats not moving as fast as thry thought even with a downturn. 

Interesting convos with some boat sales folks. "The financing buyers are GONE, ie the majority of (rich) ppl buying wake boats and mid range pontoons while cash buyers (wealthy) are still out there but are being picky.. they want a deal, and are willing to wait." 

as mentioned months ago id bet the boat mfgs will soon be laying off 30% in near future. they always follow thr RV sector which is already being crucified. 

Look to companies that are owned by private equity to make the decisions much faster than privately owned companies over thr next few months.

Talked to friend in semi/tech.. projections went from 1.4B, to 1.1B, to revised 0.8B, they eliminated 10% a few months ago then another 26% staff just now to fall in line with revenue so wall St doesn't punish them.. point is their estimates keep getting revised lower and they no longer see an uptick until later 2024 now.. yikes.

world's largest hardware chain had corporate meeting, they pay big bucks for analysis guru's.. They put in an immediate hiring freeze, and all retirees jobs must be consolidated into an existing position. Their board meeting discussed that nobody is buying Grills or power tools anymore sales dropped off a cliff and consumers are flat out broke. Their analysis said inflation will remain at government 4-5% range for several years which they said means a real 10% inflation rate for the next several years which will result in a depression at lastest by end of this decade but likely sooner.. Creepy they are Planning on it!

i think it will be interesting because if inflation stays that high will used prices actually drop as much as we think in dollar amounts vs the devaluation dollar amount? food for thought.. 

 

 

 

 

 

 

 

If you ever posted real sources to any of these claims, I would probably be a lot more worried about the future.

[oldjeep]

59 minutes ago, Jhucke said:

If you ever posted real sources to any of these claims, I would probably be a lot more worried about the future.

4chan

[The Hulk]

7 hours ago, Jhucke said:

If you ever posted real sources to any of these claims, I would probably be a lot more worried about the future.

wait im not a real source? 😂

[UWSkier]

One of these days we'll actually see a recession and this thread gonna be like:

[spikew919]

8 hours ago, UWSkier said:

One of these days we'll actually see a recession and this thread gonna be like:

But we will never be in a recession.  We have proven we can just change definition of recession to stop it 🤷🏻‍♂️🤣 

 

 

[sidekicknicholas]

1 hour ago, spikew919 said:

But we will never be in a recession.  We have proven we can just change definition of recession to stop it 🤷🏻‍♂️🤣 

 

 

As long as "Plan B: Print more money" stays an option, the chaos train continues on.

[CDAWake]

If we wait long enough there will eventually be a recession…. Free boats, cats and dogs living together, pure pandemonium 

[shawndoggy]

5 hours ago, sidekicknicholas said:

As long as "Plan B: Print more money" stays an option, the chaos train continues on.

How much money is the exactly right amount of money to be in circulation at any one time?