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Center Console Boat Bubble

Old 06-13-2019, 09:06 AM
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Default Center Console Boat Bubble

Can anyone explain to me why the center console market is so insane? How can this market sustain itself? These boats cost more than a lot of homes and I do not understand how people can pay these prices.
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Old 06-13-2019, 09:32 AM
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Simple economics Billy. Supply and demand.
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Old 06-13-2019, 09:45 AM
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.

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Old 06-13-2019, 09:51 AM
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I am not comparing to houses, just the fact that they cost as much as a house. I'm debating about buying a boat now, just trying to see other guys opinions out there.
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Old 06-13-2019, 10:10 AM
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Its nuts.... don't try and understand it.

And how people afford it, they don't. But the banks spread payments out over 30 yrs so they think they can afford it.
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Old 06-13-2019, 11:52 AM
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Originally Posted by Billyj1624 View Post
Can anyone explain to me why the center console market is so insane? How can this market sustain itself? These boats cost more than a lot of homes and I do not understand how people can pay these prices.
There are a lot of wealthy folks in S FL. The others are most likely taking out a long term loan. Doesn't make sense when the purchase depreciates. Keeping up with "The Jonses"?
Wait for a good deal on a used boat with engine warranties.
Building boats takes a ton of labor and costly materials. They don't use robots and automated machinery, like automobiles. Boat manufacturers are currently enjoying an era of high profitability, especially with the 40' plus
center consoles. As long as people overpay, the manufacturers will continue to produce.
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Old 06-13-2019, 02:57 PM
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Most of them cost a lot more than my house nowadays!
I'm always blown away by the shear number of these massive cc's and bowriders. Amazing how many people have that kind of money. And most sit at the dock 99% of the time.
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Old 06-13-2019, 03:01 PM
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Now is not a good time to buy, save your cash and buy when rates go up .
When I bought my first boat in 2000 boat loan rates were 9%+ and home loans were 8% +
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Old 06-13-2019, 04:14 PM
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The cray prices on new/newer hulls is the reason I decided to re-power my 20 year-old boat. My dad always told me buy an older boat and with a newer motor and you are good. I did that when bought ours 15 years ago and just re-powered 3 years ago.
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Old 06-13-2019, 04:39 PM
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Originally Posted by Billyj1624 View Post
Can anyone explain to me why the center console market is so insane? How can this market sustain itself? These boats cost more than a lot of homes and I do not understand how people can pay these prices.
Then add a trailer, storage, maintenance, electronics, and gas..... I have no idea Mister. I own a 38í Boat and looking at the 60+ sportyís shaking my head. But I stay within my means and suspect a lot of people don't. Fortunately this is Murica so we can all have what we want. Like the poster above, I will repower/update/modernize way before I buy a new boat.....
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Old 06-14-2019, 03:46 AM
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Cost of materials hasn’t gone up in line with CC prices. That is the BS manufactures feed you. No different than cost to build a new house in Miami versus mid west. Wood and brick is wood and brick yet our cost are 2-4 times. I just did a total renovation and flooring,cabinets,appliances ,windows,roofing,electrical and plumbing hasn’t gone up much from 10 years ago. Carlos and manny put out A+ products which I would say are on par if not better than some CCs 2-3 more expensive and they still make a profit. All the owners of the major CC brands live on mansions on the water and have private planes. I’m ok with intrepid and YF prices because that is the nature of economics. But when you see these Mickey Mouse belzona and seahunts entering intrepid money u deserve to lose ur ass if you buy one. That is the bubble.
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Old 06-14-2019, 05:19 AM
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The increase in boat prices over the past 10 years has far exceed inflation and the cost of materials.
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Old 06-14-2019, 06:13 AM
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I see where Billyj is coming from. I myself run a 29ft diesel powered BlackFin and am simply amazed at how many $200 to $400 cc's I see on the water. No judgement on my part . It is a great country !!
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Old 06-14-2019, 06:40 AM
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^^^^^^ x a million
I too am rebuilding a 18í flats boat and the matierals are insanely expensive. Resin and glass arenít cheap, electronics are down right stupid spendy, and forget about it what a new motor cost!!!

The paint job in awlgrip for a two tone boat was $900 in marietals alone.

These boat builders have to have the tooling made, industrial space and employees. The margins have to be razor thin.

Originally Posted by sailphish View Post
Expensive does not necessarily mean bubble.

As someone currently building a small boat, materials are EXPENSIVE. Motors are EXPENSIVE. Parts, fittings, electronics... etc are EXPENSIVE. Then add in tons of labor and custom work, overhead of maintaining a large industrial space (often on or near the water for boat launching ability as many larger boats arenít trailerable), overhead related to dealerships (large expensive properties in commercial zones) and it adds up real quick. It isnít as if everything is cheap, and manufacturers are the only ones marking things up. There are significant expenses at every step.

I donít think houses are necessarily a good comparison. Cars might be better. Think of the cost of a vehicle if it was 2-4 times bigger than your current car, made in very low numbers possibly on a semi custom basis, nearly entirely hand built, and had two high performance engines that were packaged in a saltwater proof housing along with all the other drive components. When people are driving F150s off the lot costing 80k (yes, I think this is ridiculous), the current cost of boats doesnít seem so out of line. I would agree that they are very expensive, and certainly a luxury item, but donít think this is necessarily a bubble. I do find it amusing how people go crazy when they see a Ferrari or similar driving down the street, but nobody bats an eye at a 35-40ft fishing boat that probably cost similar.

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Old 06-14-2019, 07:56 AM
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Cost of labor has gone up, I know I'm paying my guys more money than 10 yrs ago. Also paying more in comp & various other insurance, OSHA compliance is another factor. Then add in the cost of motors, electronics & all of those new fancy bells & whistles that were not standard 10+ years ago. I'm not saying manufacturers aren't taking advantage of what people are willing to pay but there are at least some justifiable reasons for increased pricing.

As far as the builders themselves living in mansions, they are running multi million dollar companies. Should they apologize for being successful, it's not as easy as cranking out high priced boats and raking in the cash. Just look at what happened to Barker.
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