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Time travel back to 2006 boat prices

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Time travel back to 2006 boat prices

Old 02-27-2019, 05:22 AM
  #21  
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2004 Maycraft 1800 with a Yam 90 and trailer, paid $11k new. Was $1500 for trailer, $5,500 for the Yam, hull $3,500, and some fees, etc. Saw a newer used one listed the other day for close to $30k?!?
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Old 02-27-2019, 05:23 AM
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Like others Iím shopping now and am almost boatless (I have a small 14í). Looking for a 23-25 cc and just can not even come close to justifying these prices. As much as it sucks, the market is getting it. What can you do?

Ive decided that Iíll overpay for a beater now, knowing Iíll take a hit later when the market turns and just try to minimize my loss so I can move up.
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Old 02-27-2019, 05:24 AM
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All this only works if someone is willing to pay. I remember when drooling over a 30K boat. Now you can't repower with newer, NOT NEW used, engines cost more than that.

If they ever take away the write off for boats the bottom falls out and prices will go way way down.

Nobody needs a 4 engine 40 footer to sit on a sand bar. It's a weenie extender. Except she's still gonna laugh at you.
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Old 02-27-2019, 05:31 AM
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I think its not only the boat manufactures that 100% behind the high prices of boats.

Engines have become ridiculously expensive so has electronics. These items have become more sophisticated and with that, price goes up. When I heard the Mercury 350 had an MSRP of $29K and the 400 was $34K. I was like wow.

At the show, I saw an Onslow 27 and asked about starting price. $140K with twin Vrod 350s. Thats $60K in just engines!
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Old 02-27-2019, 05:33 AM
  #25  
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Ive already waited this long so I'm not going to settle into what I think is overpaying. I'll still keep my eyes open for the rare "barn find" like everyone else and hope I'm the first one to the finish line, Ive "lost" a handful of boats by being a day or couple of hours late. So until then the boat fund keeps growing, hoping that combined with a market cool down I end up with a lot more, or newer, or new boat than originally planned.
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Old 02-27-2019, 05:37 AM
  #26  
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Electronics prices are bullshit. Manufacturers jacking up prices by 500 to $2000 just to increase screen size by 3 inches. It's utterly ridiculous. No wonder why garmins stock is going through the roof.
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Old 02-27-2019, 05:41 AM
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I was just at a canadian boat show last weekend and someone i know bought a 19í sea ray for 75k... no trailer, no electronics. Just the engine and boat. Financed for 20 years. Seems like the total price doesnt matter anymore, its just the biweekly payment
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Old 02-27-2019, 05:50 AM
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You guys saying the bubble is going to pop, I just don't see it. I am in SFL and it seems everyone I know is buying a boat. Also the amount of boats that I have seen broke down this year is on the rise lmao.
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Old 02-27-2019, 06:03 AM
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Originally Posted by Kidzdent View Post
Just looked at the original invoice on my 2012 28 Regulator and loaded was 225k....same boat today 340k...
And there is no way that their COGS has gone up that much.
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Old 02-27-2019, 06:04 AM
  #30  
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Even when the economy wasnt great, the prices of new dodnt really go down, maybe the dealer sold it for less bc they wanted out, but im sure the fsctory still charged the same amount. They def
sold less boats but only the used prices actually fell. Things will always keep rising in price as we keep printing money. Its worth less the more they print. I dont think new prices will ever go down. Just like cars. Used can fluctuate though
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Old 02-27-2019, 06:16 AM
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Originally Posted by Cpfitness View Post
Im in the same boat as you, pun intended. Not seeing anything used at a significant discount so why not get new and have full warranties . Only thing appealing about used is that boats can be like houses. New construction houses often have their share of minor quirks and annoyances, sometimes it's nice buying a home that is a couple.years old even if you want brand new because someone else has already fixed those issues.
There are deals just not many.
For example, I rebuilt a 21 foot deep v hull mako. New transom,fuel tank,foam,everything new and a 2016 yamaha with less than 200 hrs. New seastar and garmin. Trailer rebuilt too. motor is mint and has 3 1/2 year warranty left. Iím upsizing to a 25 Iím rebuilding and saving for a 300hp.

Im letting it go for 16000. Go to bass pro and look what the newer crappy 21 goes for. Over 50 grand and NOT a 23 degree deep v!! There ARE deals but not many. Good luck!
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Old 02-27-2019, 06:17 AM
  #32  
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One of the big causes of the price increase and the high price of used boats is the lack of inventory from the recession years.

Dozens of boat builders and dealers went out of business and those that stayed above water built and sold fewer boats.

You have about five years from 2008-2013 that there was little or no production.

Back in the good ole days, prior to the recession, everyone was using the equity in their homes to purchase a boat. Many that got foreclosed on actually made out by buying a boat with home equity because it was a lien free purchase.

Now the trend is to purchase with cheap financing and take a 20 year loan.

Back in the day rates were 7-9 percent for new boat financing, terms were 12 years.
100,000 for 12 years at 8.5% cost you $1100 a month and about $60k in interest

Today
$100,000 for 20 years at 5.5% costs you $690 a month and about $65k in interest
$175,000 for 20 years at 5.5% costs you $1200 a month and about $114,000 in interest!


Auto manufacturers are doing the same thing. Longer loan terms, lower interest rates equal lower payment.

It will come to a crashing end once again, that is a guarantee, then we will start the cycle of recession, then spending party all over again.






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Old 02-27-2019, 06:21 AM
  #33  
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Originally Posted by Kidzdent View Post
Just looked at the original invoice on my 2012 28 Regulator and loaded was 225k....same boat today 340k...
That is one sweet boat no doubt.
I know the comfort, bling, and fit are worth a lot but my mind keeps saying......ITS A BOAT!!!
You never used to hear of boats costing more than houses! People buy them at these prices so why not build them. I love seeing the latest and greatest technology.
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Old 02-27-2019, 06:26 AM
  #34  
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Originally Posted by Tossedabout View Post

That is one sweet boat no doubt.
I know the comfort, bling, and fit are worth a lot but my mind keeps saying......ITS A BOAT!!!
You never used to hear of boats costing more than houses! People buy them at these prices so why not build them. I love seeing the latest and greatest technology.
itís all perspective. The guy that is dropping $340k on a boat certainly does not live in a $300k house.
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Old 02-27-2019, 06:31 AM
  #35  
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Originally Posted by signmansez View Post
One of the big causes of the price increase and the high price of used boats is the lack of inventory from the recession years.

Dozens of boat builders and dealers went out of business and those that stayed above water built and sold fewer boats.

You have about five years from 2008-2013 that there was little or no production.

Back in the good ole days, prior to the recession, everyone was using the equity in their homes to purchase a boat. Many that got foreclosed on actually made out by buying a boat with home equity because it was a lien free purchase.

Now the trend is to purchase with cheap financing and take a 20 year loan.

Back in the day rates were 7-9 percent for new boat financing, terms were 12 years.
100,000 for 12 years at 8.5% cost you $1100 a month and about $60k in interest

Today
$100,000 for 20 years at 5.5% costs you $690 a month and about $65k in interest
$175,000 for 20 years at 5.5% costs you $1200 a month and about $114,000 in interest!


Auto manufacturers are doing the same thing. Longer loan terms, lower interest rates equal lower payment.

It will come to a crashing end once again, that is a guarantee, then we will start the cycle of recession, then spending party all over again.






interest points you bring up here. When I graduated from college I was making like 40k and I desperately needed a new car. The guy at the dealer was pushing for a longer term so I could get a better car. He brought up the point ďdonít you think youíll be making more in 3-4 yearsĒ just pay more on paymentĒ. (I stuck to my guns) I think people feel they will be making more in the future. They think We can pay for this with future dollars.
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Old 02-27-2019, 06:57 AM
  #36  
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Originally Posted by WPBTH View Post
You guys saying the bubble is going to pop, I just don't see it. I am in SFL and it seems everyone I know is buying a boat. Also the amount of boats that I have seen broke down this year is on the rise lmao.
Thats probably what some people were thinking in 07/08 also with the housing market. And people actually need a house/condo/apt to live in. They donít need a boat.

Im also in south Florida Iím on the water 50 hours a week, I work in the marine industry. Just because you see all these new boats behind big fancy houses doesnít mean they also donít have payment plans. Yes there is a lot of wealth in south Florida but donít be fooled into thinking that every nice boat and yacht is owned free and clear.
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Old 02-27-2019, 07:08 AM
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Originally Posted by Cpfitness View Post
Electronics prices are bullshit. Manufacturers jacking up prices by 500 to $2000 just to increase screen size by 3 inches. It's utterly ridiculous. No wonder why garmins stock is going through the roof.
The jump from 12 to 16 is insane.

I'm going to solve part if that problem with my 12 in Simrads. HDMI output. I'm going to make a swing mount for a HUGE screen that swings up when not in use but visible when anchored.

Walmart 28 inch is what $129 bucks? Use it 2 years and toss it.
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Old 02-27-2019, 07:12 AM
  #38  
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Yeah, the post about the "great deal" on a Grady White 271/272 caused me to look at the price of a new one. A buddy of mine bought one brand new, I think in 2009/2010 for around $80K. Now they're pushing $200K. I just don't know how long this can last. If boat companies have wrapped their financial plans around the current pricing environment, the next recession is going to be a doozie. I wonder if folks buying new now, at these prices, are really going to take in on the chin in the next 3-5 years. How can this price environment be sustained over the next 10 years?
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Old 02-27-2019, 07:15 AM
  #39  
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Leveraging purchases, whether it be a car, house, boat or vacation property is not necessarily a bad thing. Buying over your head, listening to the salesman upselling you, or thinking the robust economy will last forever is what gets people in trouble.

Buying a boat is a very exciting and emotional purchase. Shopping at the boat show with all of the shiny new boats puts you in the fog.

$800 a month sounds doable sitting at the closing table in the showroom. You are being sold on that trip to the Bahamas, or taking the kids fishing every weekend.

6 months later, life sets in! Kids have soccer this weekend, brother is getting married next weekend, oh we haven't been up to see the wife's folks in months. Meanwhile your new boat is sitting at the marina unused. You know what still shows up each month...that $800 bill from the finance company!


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Old 02-27-2019, 07:19 AM
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Originally Posted by Commocean View Post
Yeah, the post about the "great deal" on a Grady White 271/272 caused me to look at the price of a new one. A buddy of mine bought one brand new, I think in 2009/2010 for around $80K. Now they're pushing $200K. I just don't know how long this can last. If boat companies have wrapped their financial plans around the current pricing environment, the next recession is going to be a doozie. I wonder if folks buying new now, at these prices, are really going to take in on the chin in the next 3-5 years. How can this price environment be sustained over the next 10 years?
Exactly!

Big problem is going to be trying to finance one of these used, 5 year old $250000 center consoles at higher rate and a shorter term. That is when these original purchasers are going to take it on the chin!
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