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On a brightside.. The way I see it anyone who is selling their boat is going to get the same for it today as they will 2 years from now, so if you are actually wanting to move up, just roll it over! You'll make up for it on the new purchase. Pretty much all on paper. It's the people who don't want to take their loss but expect to get the deal of a lifetime off someone else that will have their same boat two years from now and can't roll it over! Just my humble opinion.
And I wanted to add, as this market gets worse, there will be a ton of deals to be had. If you are fortunate enough to be in the right position, you will see things that won't happen again. Wait until the inventory in the field has to be dumped by floorplan companies, let me tell you, they are not in the boat business so it will be a blood bath!
There are other markets that are easier to sell in now, like Mexico.
Case in point,
Bought a 2002 Cape Horn in Georgia sight unseen for $17,000 in 2004.
Just sold it for $15,000, same equipment. 2 months on the market. And I never liked the boat.
Bought a 2007 Chevy supercab new in Mexico for $21,300. Just sold it for $16,000 in Mexico with 25,000 miles. Can almost buy the same truck new for $17,000 in the states.
Mexican prices on most stuff new is usally a lot higher than in the states (Chey was the exception) and since the buyers have less money, the used boats go for more here than in the states.
The thing is that if someone is upside down in a boat, cannot afford to make the payments (boat, slip etc.) Wouldn't still be better to sell the boat for .60-.70 cents
on the dollar, then risk having it repoed, wholesaled for .30-.40 cents on the dollar. Either way that person is going to owe something, just alot less if the boat is sold.
every thing said here is pretty accurate . most people finance there boats and when your talking 500k plus that is somewhat understandable . most of the guys in my obsevation on tht are people with incomes that can support payments on boats in the 25k to 250k range. with that being said when times are tough , you cant unload your boat at a price that will give you the pay off to the bank and the buyers who have less than a 700 credit rating cant get financed so there is a stalemate going on here for boats as you dont need to have a boat you just want it. I personally dont finance my toys as stated years ago when life was great . will I drop my pants on my existing boat by 20-30% to move up to a boat thats discounted by 50% ---- you bet ! . so the point being is that being in control (no debt and cash ) is king right now. Im not bragging but when times are bad your glad you are where you are finacially. then you get to throw in how secure your job is and the stock market cutting you by 30 to 40 % and your not as comfortable as you were 18 months ago . bottom line is that most people that buy things on discreationary income are scared right now and a boat is not a necessity. Im sniffin around and look at boat sales every day when not tracking the stock market for my clients -just havnt found the right deal and dont care as Im kinda happy with what I have . its nice to hold the title and a few years ago nobody cared
I agree completely with the statistics. I have bought and sold boats in the past 6 months and would have to agree with most of what has been said regarding price reductions. Since I mov ed up I realized cheaper prices on the purchase and sale prices of the boats. I feel like I got a good deal and that the person that bought my former boat also got a good deal. My experience was based on all cash transaction and I am very pleased. I highly recommend moving up in this market. After selling my old boat I have almost the same amount of money in a newer and larger vessel that will do more than the old boat. The market is down but that is not always negative for people with realistic goals and boats that are paid for. Get out there and "stimulate"
I must say that I have enjoyed this post and because of it I have adjusted the price on my ride......
However ,I still have received no realistic offers on my "paid for" clean ride...
Is Maritime not a desireable manufacturer of quality boats????
__________________ "Fishing isn't a matter of life or death, it's more important than that!"
"Interesting, within the last couple weeks I have stopped by and spoken to the local Edgewater and Grady White dealers, different dealers within 5 miles of each other, they both told me the same thing, sales are great, no different than years past for thier respective top line brands, they did say the lesser brands they sell have reduced sales"
If you are talking about the GW and EW dealer north of Boston, I'll bet you lunch that they are full of it. If we are talking about the same GW, I was told a few weeks ago that sales were way off. Also, they seem to be sitting on many used boats that are wayyyyyyyyy over-priced.
"Interesting, within the last couple weeks I have stopped by and spoken to the local Edgewater and Grady White dealers, different dealers within 5 miles of each other, they both told me the same thing, sales are great, no different than years past for thier respective top line brands, they did say the lesser brands they sell have reduced sales"
If you are talking about the GW and EW dealer north of Boston, I'll bet you lunch that they are full of it. If we are talking about the same GW, I was told a few weeks ago that sales were way off. Also, they seem to be sitting on many used boats that are wayyyyyyyyy over-priced.
No one is selling anything like they did in 2004-2005. Period. And unfortunately it is going to get worse. If I did not need to sell a boat I would not in this market. If I had to sell a boat I would take any offer that allowed me to get out from under the boat.
No one is selling anything like they did in 2004-2005. Period. And unfortunately it is going to get worse. If I did not need to sell a boat I would not in this market. If I had to sell a boat I would take any offer that allowed me to get out from under the boat.
Boy, what a drastic standpoint.
Where I come from 30% unemployment and underpayment for services is the rule.
2% more people are now unemployed in the states and everyone is talking like its the end of the world, and oh god, its time for the politicians to come in and save us.
Its time to get a realistic standpoint of how lucky we still are, and to dig in to get ourselves out of the mess we have created.
I know you can't compare cars to boats at all but this is interesting. I read this article a day after I took a beating on a one year old mint Tahoe that lost 50% of it's value in one year. I heard that because the GM truck plants have been idled that the trucks and big SUV are very hard to find even on the used market. That seems unlikely but that's what I heard. Probably no corelation to the used boat market but sooner or later it will turn around
That article is probably at least somewhat right about cars. I bought an almost new Tahoe in October from a friend who manages a dealership and got a steal of a deal. Talked to him last week and he said they aren't seeing deals like that on certain used vehicles right now. One big difference is that gas was $4/gal then and its only $2/gal now.
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Re: Some basic statistics on boat sales 
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