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Is used market crashing?

Old 06-10-2019, 09:21 AM
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Default Is used market crashing?

I've noticed good (seemingly) boats in this area selling for what appears to be 2/3 what similar boats were listed at, previously. I've also noticed a TON of "reduced price" notices on FB marketplace and Craigslist lately.

Just saw a Grady 257 with twins that was $20k two days ago just get reduced to $13.5k and that's NOT isolated

​​​​​​Market oversaturated?
People tightening up their purse strings?
Cheap financing of new boats?
All of the above?

Or is the market just correcting?
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Old 06-10-2019, 09:30 AM
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Used boat prices are skyrocketing right now. I’ve seen tons of ads for used boats that were close to or even a above cost of a new boat. Maybe we’re looking in two very different places?
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Old 06-10-2019, 09:32 AM
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Originally Posted by speckslayer View Post
Used boat prices are skyrocketing right now. Iíve seen tons of ads for used boats that were close to or even a above cost of a new boat. Maybe weíre looking in two very different places?
I noticed the same thing until a few weeks ago. Seems like they dropping pretty fast in THIS area but I saw a used Pontoon boat up in Tennessee selling for $99k a couple of days ago. It had $50k worth of engines on the back, though.
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Old 06-10-2019, 09:34 AM
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Yup, twins with 2 strokes or twins with older hull that may be approaching a fuel tank are slashing prices far and wide. Seems like everyone wants to be able to trailer their boat, once you start adding more axles, brakes, and 3/4 ton requirement the list of buyers goes wayyyyy down. Guy had 30K, for truck and boat, can put 15K into each and is probably shopping for a 30K boat giving out low balls. Seller says fk it, has to sell it to someone.
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Old 06-10-2019, 10:14 AM
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Go price some mid 2000 Contender 31 opens, 401k pppfftt I should have been buying up used 31s
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Old 06-10-2019, 10:24 AM
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Originally Posted by Kenner21 View Post
Go price some mid 2000 Contender 31 opens, 401k pppfftt I should have been buying up used 31s
Yep, I've noticed that there are a couple of brands that are still commanding stupid big money (IMHO) for the age. I've got Contender-envy for sure, but I doubt there will ever be one in my price range that actually floats.
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Old 06-10-2019, 10:28 AM
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several existing threads on this topic
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Old 06-10-2019, 10:36 AM
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I just looked around this past week trying to decide if I will repower or just sell and buy a newer boat..... I can tell you on any mid-tier premium brand if anything are going up LOL

I couldn't find a pathfinder newer than 2015 with any decent options for less than $65K. while thats about 20% off MSRP of a new rig the used market is far away from "crashing".

More of what I would bet you are seeing is the fact a lot of people went out and bought fancy boats so everyone can see how cool they are and I would bet about 50% of them are one life event away from going into failure to pay. The cold hard truth is there are only so many people who can afford a 50K+ boat then need a truck etc to pull it with. That makes the used market much smaller - not to mention when you are within 20% of a new price at 60K generally speaking if you can spend 60K you can spend 80 and get one made to you.

On the older stuff yes - repowers, gas tanks, etc. will all make most buyers not buy a boat - that combined with inflated thought of what your boat that needs 10-30K in work done to it is worth will result in slashed prices.

Long story short - no the market isn't crashing instead you're seeing the proverbial roosters come home to roost on poor decisions or inflated valuation
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Old 06-10-2019, 10:40 AM
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Originally Posted by mystery View Post
several existing threads on this topic
you donít actually have to open a thread just to say this you can skip it and go about your business. We donít care if there is a duplicate thread.
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Old 06-10-2019, 10:43 AM
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Thanks for the reminder............I need to go bump my add in "Boats for sale"
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Old 06-10-2019, 10:47 AM
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Originally Posted by Jed0012 View Post

you donít actually have to open a thread just to say this you can skip it and go about your business. We donít care if there is a duplicate thread.
Exactly, and since this is a "current affairs" type thread, there's no sense posting on an old one.
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Old 06-10-2019, 10:50 AM
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I don't feel it's crashing, but asking prices are correcting. People were putting stupid high numbers up to see if anyone would bite and people are not biting. My buddy looked at a 2000 27 contender and the asking was $90k. Fast forward 8 months and the boat is at $68k still unsold.


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Old 06-10-2019, 10:53 AM
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Originally Posted by mystery View Post
several existing threads on this topic
And your point is....?
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Old 06-10-2019, 10:54 AM
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Prices fluctuate in my area (NE) seasonally, could account for differences.
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Old 06-10-2019, 10:57 AM
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Originally Posted by backbayguy View Post
Prices fluctuate in my area (NE) seasonally, could account for differences.
Our snowbirds are gone now, so that could definitely be an aspect of what I'm seeing on SWFL.
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Old 06-10-2019, 11:01 AM
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Not seeing the used boat market crashing and I live in the same area. As a matter of fact, the used boat scene with this ridiculous overpriced market is driving new boat sales up. I've sold 3 used boats I bought new and was surprised how strong the used market is.
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Old 06-10-2019, 11:16 AM
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I doubt any prices are correcting sometimes in strong markets people get overly ambitious and think their asset is worth even more than the strong market.

I'd like to see that Grady, for $13.5? maybe they had a buyer do a survey and found some rot?
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Old 06-10-2019, 11:19 AM
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It also depends on the type of boat. Large sportfish have crashed. But CC's and downeast boats are holding value. I'm not sure about smaller express boats, but they are probably ok.
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Old 06-10-2019, 11:21 AM
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There will be an "economic" correction--and probably fairly soon. When that happens, then boat prices will go down. Hopefully it will not be as severe as 2008. However, generally the longer the Bull Market, and strong economy the deeper correction/recession... If you can wait--and have the resources--the toys will be sold off at a far better price than today.
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Old 06-10-2019, 11:28 AM
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the used market crashes every year come June, when everyone realizes their boat hasn't had any bites in 5 months b/c the price is too high, and then they actually get serious about selling.
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