Used Boat Prices Falling

[Stevo]

2 hours ago, Nick55 said:

You’re right. It probably ended up being a $25k pontoon then.  It was crazy, Spradling Chilltech vinyl, full Fusion audio, RGB in speakers, cupholders, Bimini, and along the hull, and I counted 6 Scanstrut wireless chargers.  

Did a double take here, there was some youth volleyball event at McCormick Place in Chicago in one of the other show floors.   I was thinking, “I didn’t see Bass Pro at the show.”

Yeah I’m in Roseville CA and there is a bass pro a few miles up the road

[Steve B.]

Some of the 'toons are so nice. They pair nicely with a DD ski boat as a floating ski dock for a bigger ski crew.

[Hemmy]

On 1/13/2024 at 6:35 PM, Nick55 said:

One Godfrey 27 toon had two 400 Mercs was knocked down enough that the engines were free with the boat.    

Last I saw, at least a year ago or so, each one of those 400 Merc's were about $75k/each.  I missed the Chicago boat show this year.  I usually go, but the weather was not favorable to make the drive from South Bend this weekend.

[bcoppess23]

1 hour ago, Hemmy said:

Last I saw, at least a year ago or so, each one of those 400 Merc's were about $75k/each.  I missed the Chicago boat show this year.  I usually go, but the weather was not favorable to make the drive from South Bend this weekend.

I know where you can get 3 400's for 110k.

[The Hulk]

On 1/13/2024 at 6:35 PM, Nick55 said:

The two lift manufacturers had NO traffic stopping but they had 45-50% discounts shown on tags.  

zero coincidence... And at least they're in no way related to boat sales haha 

 

 

[asp13]

On 1/13/2024 at 7:19 AM, theloungelife said:

Do you have friends to get out with?  That makes all the difference.

 

On 1/13/2024 at 9:53 AM, granddaddy55 said:

those days of over selling are done, hope you had some water fun these last couple years, i did 750-800 maybe more since you sold 

I get out on my buddies 22 vlx quite often, and also have use of my dads boat/seadoo as well so I haven't missed much water time by not having my own boat. But now that my boys are older it makes sense to start looking again though.

[granddaddy55]

On 1/16/2024 at 10:52 AM, asp13 said:

 

I get out on my buddies 22 vlx quite often, and also have use of my dads boat/seadoo as well so I haven't missed much water time by not having my own boat. But now that my boys are older it makes sense to start looking again though.

if you like 22 footers and considering new,  take a look at the FE 22,  its a 22 foot FI with the RI hull, 140k new nicely appointed 

[asp13]

19 hours ago, granddaddy55 said:

if you like 22 footers and considering new,  take a look at the FE 22,  its a 22 foot FI with the RI hull, 140k new nicely appointed 

Im looking for an early vtx/sunscape/tige 20v etc, I want a boat that can ski well, but still surf/board with a v drive.

Edited January 18 by asp13

[bcoppess23]

31 minutes ago, asp13 said:

Im looking for an early vtx/sunscape/tige 20v etc, I want a boat that can ski well, but still surf/board with a v drive.

Talk with @ahopkins22LSV.  He can lend his experience doing the 3-sport boat and what direction to go. 

[Sixer]

onlyinboards.com just went over 1500 Malibu boats listed for sale.  Granted they aren't all used, but I've never seen the number of bu's for sale hit 1500+.  Something's gotta give.........

[oldjeep]

1 minute ago, Sixer said:

onlyinboards.com just went over 1500 Malibu boats listed for sale.  Granted they aren't all used, but I've never seen the number of bu's for sale hit 1500+.  Something's gotta give.........

I look at the prices on stuff and I am always happy that we stretched on what we were willing to spend 10 years ago.  I could not or would not spend what a new/couple year old inboard costs these days.

[Sixer]

They are very high I agree, but it does seem like there's a pretty significant drop off between buying new and getting into a boat that's 1-3 years old.  There are a few with very low hours starting to pop up at decent prices.  

[rennis]

3 minutes ago, oldjeep said:

I look at the prices on stuff and I am always happy that we stretched on what we were willing to spend 10 years ago.  I could not or would not spend what a new/couple year old inboard costs these days.

I get this but a lot of folks entering the boat market or upgrading their boats over the last few years make a LOT more money now than they did 10 years ago.  Everything is more expensive.  At least with boats the wake technology and hull designs have advanced considerably in that time.  For a lot of other purchases (like a house or even a car) not much has changed unless you're talking about touch screens on your dashboard or kitchen fridge. 

[Pnwrider]

20 minutes ago, rennis said:

For a lot of other purchases (like a house or even a car) not much has changed unless you're talking about touch screens on your dashboard or kitchen fridge. 

I feel for first time home buyers right now. To find anything affordable in our area you have to kill yourself with a commute, or have your kids go to school in an undesirable area/district. A wake boat is a luxury item and if I get priced out, I can still buy an I/O or a pontoon to get the family out on the water. 

[oldjeep]

26 minutes ago, rennis said:

I get this but a lot of folks entering the boat market or upgrading their boats over the last few years make a LOT more money now than they did 10 years ago.  Everything is more expensive.  At least with boats the wake technology and hull designs have advanced considerably in that time.  For a lot of other purchases (like a house or even a car) not much has changed unless you're talking about touch screens on your dashboard or kitchen fridge. 

Now I feel sad   I like to think I make a decent living, but in terms of money over the last 10 years - basically 3-5%/year which barely covers cost of living on normal things, let alone the price of wakeboats.

[shawndoggy]

4 minutes ago, Pnwrider said:

I feel for first time home buyers right now. To find anything affordable in our area you have to kill yourself with a commute, or have your kids go to school in an undesirable area/district. A wake boat is a luxury item and if I get priced out, I can still buy an I/O or a pontoon to get the family out on the water. 

Right.  I look at the salary I earned in my late 20s and the same job pays about double now.  Yay!  But the house we bought on that salary has tripled.  Long commutes are definitely required to get something affordable... but the long commute packs a hidden cost in terms of time, transportation costs, etc.  

Edited January 26 by shawndoggy

[oldjeep]

3 minutes ago, shawndoggy said:

Right.  I look at the salary I earned in my late 20s and the same job pays about double now.  Yay!  But the house I bought on that salary has tripled.  

Kind of depends.  IT - not so much, engineering - yes, teaching - NFW

But yeah the house I bought 26 years ago - pretty good deal

Edited January 26 by oldjeep

[REHinH20]

55 minutes ago, shawndoggy said:

Right.  I look at the salary I earned in my late 20s and the same job pays about double now.  Yay!  But the house we bought on that salary has tripled.  Long commutes are definitely required to get something affordable... but the long commute packs a hidden cost in terms of time, transportation costs, etc.  

I like the idea, but the house hasn't been sitting earning for you like a regular investment.  You've paid taxes, repairs, insurance, interest etc.  Traditionally a home is not as good an investment at most people think because of all of this.  Main thing is that people don't finance investments in the market.  Not saying home ownership is not important, just that people don't usually take all the "other" into consideration when they claim how much it has appreciated.

[Jhucke]

1 hour ago, oldjeep said:

Kind of depends.  IT - not so much, engineering - yes, teaching - NFW

But yeah the house I bought 26 years ago - pretty good deal

Yep, my wife just got out of teaching and much happier. Nice to have any amount of potential at progression in your career, which teaching there is none. Makes zero sense to go to school for and use as a career unless your partner is loaded (I'm not), or you get handed money passed down (we don't & won't) and you don't care and just like to teach.

Edited January 26 by Jhucke

[shawndoggy]

2 hours ago, REHinH20 said:

I like the idea, but the house hasn't been sitting earning for you like a regular investment.  You've paid taxes, repairs, insurance, interest etc.  Traditionally a home is not as good an investment at most people think because of all of this.  Main thing is that people don't finance investments in the market.  Not saying home ownership is not important, just that people don't usually take all the "other" into consideration when they claim how much it has appreciated.

I’m not making that argument at all. Rather, that in my hood at least, housing is less affordable notwithstanding wage growth. 
 

yes taxes and maintenance are costs of ownership. But those same costs are also baked into rents. It’s not like rents haven’t tripled during the same period too.   Simply put, the monthly cost of keeping a roof over head has gone up faster than wages in my area. 

[REHinH20]

Ah, gotcha. Misunderstood your point.  I still stand my a home as a poor investment option.  Just see too many people talking about how much money they have "made" on their home appreciating.  Simply can't agree that works in most cases.

[Stevo]

29 minutes ago, REHinH20 said:

Ah, gotcha. Misunderstood your point.  I still stand my a home as a poor investment option.  Just see too many people talking about how much money they have "made" on their home appreciating.  Simply can't agree that works in most cases.

LOCATION, LOCATION, LOCATION ,

Every home we've purchased has been an "EXCELLENT" investment , even with appreciation minus upgrdes, taxes, insurance etc taken into consideration

[Sparky450]

1 hour ago, REHinH20 said:

Ah, gotcha. Misunderstood your point.  I still stand my a home as a poor investment option.  Just see too many people talking about how much money they have "made" on their home appreciating.  Simply can't agree that works in most cases.

So you would rather throw money away at rent and never see a return. In our area. 
2400.00 for rent never again to be seen. 
or 3600.00 to buy. And get some kind of appreciation. Especially if you buy a pos and put sweat equity into it. Then rent that one out and do it again. 

[REHinH20]

53 minutes ago, Sparky450 said:

So you would rather throw money away at rent and never see a return. In our area. 
2400.00 for rent never again to be seen. 
or 3600.00 to buy. And get some kind of appreciation. Especially if you buy a pos and put sweat equity into it. Then rent that one out and do it again. 

No Rent is worse, I'm simply stating that a home is NOT an INVESTMENT.  The only way it's a good investment is if you can get it for cheap, live where property taxes are low, and don't have to finance it.  I would bet that if most homeowners that have kept track of all expenses (interest, insurance, taxes, maintenance and repairs) they wouldn't be considering it such a good investment.  People only look at what they paid versus what they sold it for.  Even a 15 year mortgage for $300k would pay $127k in interest at 5% (not to mention bank fees).  That's a big hit against appreciation.

 

Sorry Mods, I'll quit commenting on this as it's definitely "off topic"!!

Edited January 26 by REHinH20

[justgary]

I just did a back of the envelope calculation and found that including payments and improvements our house has roughly doubled in value in the 38 years we have owned it.  I did not include taxes and insurance, but I assume I would have similar costs if I had rented the whole time.  So I'm looking at about a 2% return, and that will only get better as time goes on.

My mother's house, on the other hand, is on the water in a prime area and is worth about 20 times what they paid for it back in the mid 1960s.  They don't make land like they used to, so I agree with location, location, location!