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I see a lot of 2007 and 2008 and even some 2006 boats for sale by the original dealers so they are all technically new or at least unused. How do you value what price reduction is appropriate? For example, I'm looking at a 34' Stamas with twin suzuki 250's but its an 06 but not used. Dealer just dropped the price to $125k which seems like a great deal but I'm concerned that its 3 years old already but the 09's to my knowledge are well over $200k..... Help!
I have been wondering the same thing.
As I see it, the day you buy a 2009 model it is one-day old; the day you buy a 2008 model it is one year old; 2007 = 2 yrs old; etc.
Leftovers are new in that they come with full warranties (although this is not always the case, always read the fine print.)
But when you go to sell the boat later nobody will care that you bought it as a leftover.
Example, you buy a 2006 lefotver boat now and decide to sell it 2 years from now -- good luck convincing a buyer it is 2 years old at that point.
Based on what I've seen, most dealers are still trying to turn a decent profit on 2008s (as well they should), and most are just trying to get rid of 2007 inventory.
So, as a rule I believe prices you see on 2007s are very close to dealer cost.
That still doesn't necessarily mean they are a great deal (in my opinion) becasue the boat has depreciated as it has sat on the lot (and if it has sat in the sun and salt air the boat has weathered as well.) But chances are the deal will be close to fair.
Once you start to get older than that the dealer really has nowhere to go. They can't discount their 2006 leftovers below what they paid for them (or at least they won't) even if the boat has depreciated beyond that level.
To me it seems like 2007's and 2008's represent the best values.
You will pay more for a 2008 but recoup more at resale time (unless you keep it for 10+ years, at which point condition trumps age).
With the older leftovers it seems harder to strike a deal. You want a price that reflects depreciation but the dealer wants to recover as much cash as possible. Neither side willing to budge so deal is hard to come by.
I've been watching very intensely as I am a buyer and just waiting for the right opportunity.
This is what I have deduced, although I'm sure others will weigh in.
Good luck either way.
Usually on a two year old "new" boat still in inventory, the dealer more than likely owns it outright, or at least has had to pay down the flooring amount considerably.
Banks (flooring companies) don't like to be upside down in their collateral.
Once a boat becomes a non-current, the invoice should be thrown out the window. The dealer had his chance to make his money, now he needs to get rid of it.
If Olympic would have followed that advice (instead of trying to hit a homerun on old inventory) they would more than likely still be in business today...
I'll tell you how to value that one..... A 34 Stamas at that price? You buy it before the market notices that oil is now 58 bucks a barrel. While it is true that boats sell based on the year, they also sell a lot on condition. If you keep the boat decent, your resale value will probably be higher in five years than a 3 year old 2009 that has not been cared for.
I almost bought an 06 32 Stamas last year for 199K and that was a steal. If you have the means to buy this boat for 125K, grab it before someone else does.
__________________
2007 310 (Now called 330) Sea Ray Sundancer
6.2 V-drives
I went through the same thing in 2006. I bought my Hydra Sports in Nov 06. It was a 2005 left over. The going price for the same boat titled as a 2007 was $160k with 250 ETEC's (the day I found my boat I had been to the FS Boat Show and looked at the "Boat Show Specials"). I made a deal with the Yamaha's on it for $106k. Boat, Engines, Trailer,,,,, Warranted as new and 6 years on the engines.
I plan on keeping the boat for quite awhile and figure the dealer took the depreciation hit for me. If I decide to sell it I can prove it has 2 years less use than the comparable boats with the sales receipt. It might not command a much higher price but it will help it sell faster. Which would you buy? A 2005 that has been used and run for 4 years or a 2005 that only has 2 years on it? Wouldn't you be willing to pay a little more for it? Not to mention the warranty will still have a much longer time left than the competition.
The boat should have full factory warranty ,also check the value of the exact boat used ,on the nada online service . This should help you make the decission.
ReelDreams1 - 11/13/2008 5:14 PM I went through the same thing in 2006. I bought my Hydra Sports in Nov 06. It was a 2005 left over. The going price for the same boat titled as a 2007 was $160k with 250 ETEC's (the day I found my boat I had been to the FS Boat Show and looked at the "Boat Show Specials". I made a deal with the Yamaha's on it for $106k. Boat, Engines, Trailer,,,,, Warranted as new and 6 years on the engines. I plan on keeping the boat for quite awhile and figure the dealer took the depreciation hit for me. If I decide to sell it I can prove it has 2 years less use than the comparable boats with the sales receipt. It might not command a much higher price but it will help it sell faster. Which would you buy? A 2005 that has been used and run for 4 years or a 2005 that only has 2 years on it? Wouldn't you be willing to pay a little more for it? Not to mention the warranty will still have a much longer time left than the competition.
The nicer boat will comand a higher price. There are boats in my marina that have little or no hours that are true POS's. Many boats are fished quite frequently, but are cared for and look like new. Forget about the purchase agreement, and keep the chamois and polish handy.
__________________ Mark Lacovara
Update your outriggers with www.reelnfree.com
Iwould value a 2 or 3 year old leftover like I would a used one of the same vintage in excellent condition, cuz the instant you turn the key on it that is what you have.
As I re-read the initial post, I also pondered the 250's. I had a air of Honda 225's on 29 Tarpon and they were ideal. But the 34 is a lot more boat and I wondered if it may need 300's, not 250's. But, a sea trial will tell for sure. I personally am running a pair of Yamaha 208's on a Venture 34 and find the performance is satisfactory. The lower deadrise on the Stamas and the extra horsepower may just make it work. Stamas makes an efficient hull. But you also need to consider if it will be bottom painted. If so, there is a loss of performance.
I would see what the most you could get out of a used 2006 which is what you will own once you sign the papers. You should probably add some for the fact you get a full factory warranty but you will still own a 3 year old used boat this spring. Also you should ask your insurance agent what they will give you if something bad happens at least then you will know how far upside down you are or aren't. Well just jumped over to NADA and they list it as between 149k and 179k for used value so that may not be a issue.
I worked for Stamas from '00 to Feb. '06, so I may have built that boat. We probably built no more than a dozen 34s in that time frame. I started on Hull #001, did all the cabin mechanical/electrical/plumbing. Originally, the 34 was supposed to be an inboard only, like the 37. But eventually Johnny Stamas decided she could be an outboard. Perfect platform for triple 250s, but he was too "fuddy-duddy" to go to triples. Now, one of the biggest issues we had with the 34 O/B was the fit of the Armstrong bracket to the transom. Each had totally different radii, so when you got the outboard ends tight, there was about a 1 1/2" gap at the center. So we would close it up by going back and forth across the top row of bolts, and eventually the stringers would rip away from the transom, because something had to give, and it certainly wasn't going to be that big old bracket! Then they would glass over the gaps between stringers and transom, but still a structural issue there, if you ask me.
Now, assuming the boat has a hardtop, A/C, water heater, genset, $125K is DIRT cheap for this boat. I remember when hull #002 went up to Island Yacht on the western shore of Maryland, twin 340 Yanmars but no top, and the sale price was $315K. Now, granted, add $50K for the diesels, but still almost $150K over what you're looking at if you add in the top.
Would I buy it, '06 or not? I don't know, I'm probably a little prejudiced against the company, but she's got a ton of room and the ride is good. Almost has a genuine "hold" where the inboards would live. But I tell you what, should those electric rams ever fail, good luck getting that big old engine room hatch open!
I worked for Stamas from '00 to Feb. '06, so I may have built that boat. We probably built no more than a dozen 34s in that time frame. I started on Hull #001, did all the cabin mechanical/electrical/plumbing. Originally, the 34 was supposed to be an inboard only, like the 37. But eventually Johnny Stamas decided she could be an outboard. Perfect platform for triple 250s, but he was too "fuddy-duddy" to go to triples. Now, one of the biggest issues we had with the 34 O/B was the fit of the Armstrong bracket to the transom. Each had totally different radii, so when you got the outboard ends tight, there was about a 1 1/2" gap at the center. So we would close it up by going back and forth across the top row of bolts, and eventually the stringers would rip away from the transom, because something had to give, and it certainly wasn't going to be that big old bracket! Then they would glass over the gaps between stringers and transom, but still a structural issue there, if you ask me.
Now, assuming the boat has a hardtop, A/C, water heater, genset, $125K is DIRT cheap for this boat. I remember when hull #002 went up to Island Yacht on the western shore of Maryland, twin 340 Yanmars but no top, and the sale price was $315K. Now, granted, add $50K for the diesels, but still almost $150K over what you're looking at if you add in the top.
Would I buy it, '06 or not? I don't know, I'm probably a little prejudiced against the company, but she's got a ton of room and the ride is good. Almost has a genuine "hold" where the inboards would live. But I tell you what, should those electric rams ever fail, good luck getting that big old engine room hatch open!
Take the above story to a surveyor and have him check the boat. IF he finds that this story represents that boat.... RUN AWAY!
I myself would pay more for a new 2006 than a used one in excellent shape. A used 06 will have two years of warranty already used up, and it could very conceiveably have 300 - 400 hours on it. Not nearly the same thing as an 06 coming off the showroom floor with full factory warranties.
B-Faithful - 11/14/2008 7:24 AM Regarding a left over.... The day you take ownership of it, it is an used 2006 stamas with no more value than the other 06's on the market in great shape.
If this was true then an hour meter on a boat means nothing. Are you going to pay the same for a boat with 1000 hours as one that has 10?It will never bring current new 2009 price but it will out perform most if not all 2006's. If you keep the 2006 long enough it won't matter because you are going on condition of the boat not the year. Very short term ownership your statement is correct only if he paid full retail.
How do you value leftovers 
. I made a deal with the Yamaha's on it for $106k. Boat, Engines, Trailer,,,,, Warranted as new and 6 years on the engines. I plan on keeping the boat for quite awhile and figure the dealer took the depreciation hit for me. If I decide to sell it I can prove it has 2 years less use than the comparable boats with the sales receipt. It might not command a much higher price but it will help it sell faster. Which would you buy? A 2005 that has been used and run for 4 years or a 2005 that only has 2 years on it? Wouldn't you be willing to pay a little more for it? Not to mention the warranty will still have a much longer time left than the competition.
