How is the used boat market doing this season?

[McGruff38]

It seems like theres a lack of inventory this year, or maybe im just looking in the wrong places. Anything under $30K is hard to find. Some of the higher proced boats seem to be coming down a little, but not much. Pontoons are even hard to find unless its 3 states away. Whats the market looking like to you guys that have been following it more closely than I have?

 

[Runs2rch]

More ads everyday, prices coming down, quite a few sitting.

 

[ChrisV]

Everything outboard that’s 40k under is getting sold quick imo.

 

[Wheeler]

Big Dollar Schiada's are flying off the shelf!

might need to raise the price on this one.

 

[golakers]

A lot of Wakeboard boats, Magics and Toon sitting on Marketplace. Boats are being added quicker it seems .

 

[SOCALCRICKETT]

With lending tightening up it seems to be the sub 30k stuff sells to cash buyers and the ultra expensive seems to hold its own being that those buyers are in a league of their own

 

[RiverDave]

It seems like theres a lack of inventory this year, or maybe im just looking in the wrong places. Anything under $30K is hard to find. Some of the higher proced boats seem to be coming down a little, but not much. Pontoons are even hard to find unless its 3 states away. Whats the market looking like to you guys that have been following it more closely than I have?

I can’t find shit I like in the 200-250,000 range!!

 

[lbhsbz]

I can’t find shit I like in the 200-250,000 range!!

That's a good problem to have Dave.

 

[brgrcru]

I can’t find shit I like in the 200-250,000 range!!

if that’s your price point
I want a discount on my membership .
Lol

 

[boatnam2]

Still sucks unless your looking for a 1980 something for 20k. I have seen the same stuff for sale for 3 years.

 

[Roosky01]

I have seen the same stuff for sale for 3 years.

If somebody could buy this thing so I didn't have to see it every single time I'm perusing the ads from out there it would really make my day!

Thanks in advance.

 

[Deckin Around]

I can tell you the used off-road toy market has dropped (corrected) 30%+ since prime covid pricing.
i’ve been shopping for an older open bow 18 to 21 foot and my bet is by the end of summer the boat market will have done the same.
Everyone had free time during Covid to go to the desert and the river and now half those people’s kids are back into regular weekend Sports.

 

[ChrisV]

I would say it’s good also cause I posted a boat for sale and it’s basically sold. $5500 bought though.

 

[Roosky01]

Here in WI, some still have their stuff priced higher than giraffe snatch, but the Season hasn't really started yet either. I'm anticipating a pretty good correction as credit is expensive and the disposable income is dropping pretty rapidly around these parts. I have a cash buyer for our boat when it comes time to jump on a good deal....if that time ever comes.

 

[Blue Oval]

Michigan is just getting rolling. Boats are coming out of storage. I always check in on Craigslist. Not much out there.

 

[BlowMe]

Panic mouse at LOTO just came up

https://www.performanceboats.com/threads/blown-fuel-flatbottom.372932/

 

[Orange Juice]

It seems like theres a lack of inventory this year, or maybe im just looking in the wrong places. Anything under $30K is hard to find. Some of the higher proced boats seem to be coming down a little, but not much. Pontoons are even hard to find unless it’s 3 states away. Whats the market looking like to you guys that have been following it more closely than I have?

They’re not making/selling enough new boats anymore to cause a market panic. Same with vehicles less than 4 years old.

Once you find “the one”, price won’t be a problem. If you hesitate for a minute, someone else will jump in front. .

I’ve looked for one of my Eliminator boats I built in the late 1980’s, and it has never been seen since I sold it. I can only assume the next owner didn’t care of it, and it’s sitting in a field, burnt in the sun, and striped, long before it found its final resting spot.

 

[Ace in the Hole]

The only thing this market has made me decide is to be extremely happy with what I have…

 

[JFMFG]

Boats are still moving. Some prices have come down slightly but not much. The boats that have been listed on market place are beaters and that’s why they’re sitting.

 

[OldSchoolBoats]

Boats are still moving. Some prices have come down slightly but not much. The boats that have been listed on market place are beaters and that’s why they’re sitting.

Nailed it.

The condition and motor/drive package is everything. A lot of non merc power stuff is sitting.

Multiple posts this week in the Hallett group from people looking for WTOB 255's and of course 240's.

Boat prices are normalizing, the Covid craze is over. Just saw a nice 26 ICC Daytona for sale today. 496 with CMI's and 500 hours. Guy wants $69k. Seems like a good deal IMO.

 

[JFMFG]

Nailed it.

The condition and motor/drive package is everything. A lot of non merc power stuff is sitting.

Multiple posts this week in the Hallett group from people looking for WTOB 255's and of course 240's.

Boat prices are normalizing, the Covid craze is over. Just saw a nice 26 ICC Daytona for sale today. 496 with CMI's and 500 hours. Guy wants $69k. Seems like a good deal IMO.

Yup everyone is freaking out because prices are coming down from the Covid high and is normalizing.

 

[LargeOrangeFont]

Nailed it.

The condition and motor/drive package is everything. A lot of non merc power stuff is sitting.

Multiple posts this week in the Hallett group from people looking for WTOB 255's and of course 240's.

Boat prices are normalizing, the Covid craze is over. Just saw a nice 26 ICC Daytona for sale today. 496 with CMI's and 500 hours. Guy wants $69k. Seems like a good deal IMO.

This may be just me, but does inventory seem slimmer than pre covid? Prices are getting back to normal a bit though.

 

[OldSchoolBoats]

This may be just me, but does inventory seem slimmer than pre covid? Prices are getting back to normal a bit though.

Oh for sure. There is definitely slim inventory, especially in the mid size to larger v bottom 23 - 28 foot range.

Quite a few Shockwave 22 decks and Magic 28 decks on the market right now, but they still want all the money, so a lot are not moving.

 

[Bajastu]

I've seen boats that sold pre covid back on the market for 30k over what they sold for. The covid pricing was out of control. I'll be glad to see covid and the inflation that came with it disappear.

 

[HB2Havasu]

The only thing this market has made me decide is to be extremely happy with what I have…

^^^ THIS ^^^
Our current boat we purchased in 2017. It's probably gone up 50% in value since then. Crazy Times we live in now!!! I'm expecting a major market swing soon.

 

[gqchris]

I still cant digest the pricing or get used to it. I sold used boats for too long and my brain is just stuck on days of the past. Clapped out 496's with huge hours are not premium anymore. These girls are all aging and we got nothing to replace them with!

 

[Bpracing1127]

I still cant digest the pricing or get used to it. I sold used boats for too long and my brain is just stuck on days of the past. Clapped out 496's with huge hours are not premium anymore. These girls are all aging and we got nothing to replace them with!

You mean a 17 year old 400 hour 496 magic isn’t worth 105k anymore lmao.

I do not get the magic boat pricing. Who would have known they kept or increased value 15-20 years later lol.

You sold them too. Lol

 

[gqchris]

You mean a 17 year old 400 hour 496 magic isn’t worth 105k anymore lmao.

I do not get the magic boat pricing. Who would have known they kept or increased value 15-20 years later lol.

You sold them too. Lol

Its all in their echo chamber swimpstep, Sir! That is a masterpiece design and guys gobble it up!

 

[LargeOrangeFont]

I still cant digest the pricing or get used to it. I sold used boats for too long and my brain is just stuck on days of the past. Clapped out 496's with huge hours are not premium anymore. These girls are all aging and we got nothing to replace them with!

That’s the problem! There is nothing to backfill the gaps in production post 08 recession.

The flip side is you could completely rebuild a 20 year old clapped out boat for significantly less than a new boat if it is decent mechanically.

 

[Tank]

The market im looking at it Seems the high end / newer stuff is selling. There’s still a long wait if you order a performance boat new. Buddy even ordered a coach pontoon a few months ago and is still waiting for delivery.

I have noticed that boats like mine that are for sale (older performance boats) are sitting longer. I believe it’s due to the fact buyers of this type of boat are usually working class dudes. They’d need a loan or access to money since they don’t have it liquid. However, banks usually won’t loan on older boats over 10-15 years old and I think the BIG one is the interest rates are up and people can’t use the equity in their houses.

So, those that have access to funds to buy a 75-100k boat that’s over 15 years old is a very small market and getting smaller as time goes on.

 

[C-Ya]

I can’t find shit I like in the 200-250,000 range!!

Dave, I could see you in this boat. It can take you offshore too.

But just imagine boating Havasu with a windlass anchor, joystick, side door, head, hardtop with extended shade, full electronics.

It’s a very stylish 27……

277 Dorado - Scout Boats

The 277 Dorado raises the bar for a family-friendly coastal fishing vessel. The custom fiberglass built-in hard top adds to the stunning look

scoutboats.com

 

[LargeOrangeFont]

You mean a 17 year old 400 hour 496 magic isn’t worth 105k anymore lmao.

I do not get the magic boat pricing. Who would have known they kept or increased value 15-20 years later lol.

You sold them too. Lol

Looking at all other options I totally get the pricing vs spending $250k today to go the same speed in a twin engine toon as a 20 year old 496HO Magic.

Buying an $80k Magic and spending $50k on it for interior, stereo, general repairs and gel touch up will get you a nice boat for half the cost of a new one.

Or just buy a new Cheetah Wildcat.

 

[Ace in the Hole]

However, banks usually won’t loan on older boats over 10-15 years old and I think the BIG one is the interest rates are up and people can’t use the equity in their houses.

This its the big part of it....interest rates a high, lenders have tightened up significantly on underwriting etc. I'm doing a report today for work about the risk of default by customers due to the spikes in fees/rates that keep coming.

 

[gqchris]

That’s the problem! There is nothing to backfill the gaps in production post 08 recession.

The flip side is you could completely rebuild a 20 year old clapped out boat for significantly less than a new boat if it is decent mechanically.

My taste for rebuilding a boat left the train station after the Baker sold.

And this was Pre Covid. I cant imagine the price of shit now and the shops what they are charging.

I think the key is to still find the Diamond in the Rough. Which takes time, maybe too long for some. Not seeing those diamonds much anymore.

 

[Bpracing1127]

I still cant digest the pricing or get used to it. I sold used boats for too long and my brain is just stuck on days of the past. Clapped out 496's with huge hours are not premium anymore. These girls are all aging and we got nothing to replace them with!

I think the used boat pricing is irrelevant. We should be focused on new boat pricing. New boat pricing is 100% driving used boat pricing.

The days of a avg so cal family buying a new boat are over. Only the tippy top of folks are buying new boats right now.

I would love to see the avg boat sales price for the following boats

Eliminator deck
Howard’s deck
Eliminator smaller cat 27ft max (with an I/O)
Eliminator cat with twins outboards and I/o
Nordic deck
ICB deck
Essex deck
Advantage (all current selling molds)
Cobra (all selling molds)
Shockwave 22 deck

Then once you have those avg prices compare those to RDP income and I bet less than 1% of the board can afford a new boat

Vs 20 years ago that number is much higher

 

[gqchris]

I think the used boat pricing is irrelevant. We should be focused on new boat pricing. New boat pricing is 100% driving used boat pricing.

The days of a avg so cal family buying a new boat are over. Only the tippy top of folks are buying new boats right now.

I would love to see the avg boat sales price for the following boats

Eliminator deck
Howard’s deck
Eliminator smaller cat 27ft max (with an I/O)
Eliminator cat with twins outboards and I/o
Nordic deck
ICB deck
Essex deck
Advantage (all current selling molds)
Cobra (all selling molds)
Shockwave 22 deck

Then once you have those avg prices compare those to RDP income and I bet less than 1% of the board can afford a new boat

Vs 20 years ago that number is much higher

I totally agree with you Sir. The ONLY builder I would even consider new is @Goodtime$
Everyone else has jumped the shark.

Maybe this is why we are seeing the lake and river culture shift so strong.

 

[LargeOrangeFont]

My taste for rebuilding a boat left the train station after the Baker sold.

And this was Pre Covid. I cant imagine the price of shit now and the shops what they are charging.

I think the key is to still find the Diamond in the Rough. Which takes time, maybe too long for some. Not seeing those diamonds much anymore.

Agreed. Buying a nice one up front is a much better proposition. You shoulda mothballed that 240

 

[gqchris]

Agreed. Buying a nice one up front is a much better proposition. You shoulda mothballed that 240

Dont remind me Sir. I got new Dad Jitters! And Im poor and hate to see shit just sit!
On a lighter note leaving for a few days tomorrow to the lake. You guys around?

 

[Waterjunky]

I would love to buy a boat this season but I do not see it happening this year. Things are still stabilizing, I can wait.

I don't want to wait but I can.

 

[LargeOrangeFont]

I think the used boat pricing is irrelevant. We should be focused on new boat pricing. New boat pricing is 100% driving used boat pricing.

The days of a avg so cal family buying a new boat are over. Only the tippy top of folks are buying new boats right now.

I would love to see the avg boat sales price for the following boats

Eliminator deck
Howard’s deck
Eliminator smaller cat 27ft max (with an I/O)
Eliminator cat with twins outboards and I/o
Nordic deck
ICB deck
Essex deck
Advantage (all current selling molds)
Cobra (all selling molds)
Shockwave 22 deck

Then once you have those avg prices compare those to RDP income and I bet less than 1% of the board can afford a new boat

Vs 20 years ago that number is much higher

You already know the answer. New boat prices have doubled for deckboats in the last 8 years That’s how they stay in business - Fewer clients, smaller staff, higher margins.

 

[LargeOrangeFont]

Dont remind me Sir. I got new Dad Jitters! And Im poor and hate to see shit just sit!
On a lighter note leaving for a few days tomorrow to the lake. You guys around?

You’ll get another when the time is right. I can’t make it out this weekend. Was planning to go Mother’s Day weekend.

 

[Bpracing1127]

I’m pretty sure I could re rig, re power, re gel, new interior, new stereo, and redo trailer on my current boat for less than a same brand new boat

23xs lol.

 

[Bpracing1127]

Dont remind me Sir. I got new Dad Jitters! And Im poor and hate to see shit just sit!
On a lighter note leaving for a few days tomorrow to the lake. You guys around?

Not till Memorial Day

 

[gqchris]

Not till Memorial Day

Im an old man, I cant do the holidays anymore!

 

[ChrisV]

Im an old man, I cant do the holidays anymore!

How old are you?

 

[Bpracing1127]

Im an old man, I cant do the holidays anymore!

Rookie. You used to be cool ya know lol.
Holidays are a bit crowded but we stay away and it’s really not bad. Worse part is the early mornings. But I enjoy it

 

[JD D05]

I have my boat listed with Maxed Out for about 2 months now. I think it's very attractive in many ways. But it is older and a big V which definitely isn't popular these days. I haven't had any legitimate interest and at this point I don't expect it to sell.

 

[FlyByWire]

Oh for sure. There is definitely slim inventory, especially in the mid size to larger v bottom 23 - 28 foot range.

Quite a few Shockwave 22 decks and Magic 28 decks on the market right now, but they still want all the money, so a lot are not moving.

It’s insane to me what the used 22 decks are listing for, knowing what I paid brand new to have one built. Mind blowing.

 

[JFMFG]

I have my boat listed with Maxed Out for about 2 months now. I think it's very attractive in many ways. But it is older and a big V which definitely isn't popular these days. I haven't had any legitimate interest and at this point I don't expect it to sell.

Which one is yours the Nordic?

 

[Englewood]

However, banks usually won’t loan on older boats over 10-15 years old

Not entirely true. We can loan on boats as far back as 30 years. Just because the RDP guy can’t, doesn’t mean it can’t be done. This is why people should ALWAYS shop around.

I have 3 sources that can/will do a loan for a 20yr old custom boat. I can even go to 30 years in some cases (rates are not ideal). Production boats are business as usual.

On April 1, Flagstar stopped recreational lending altogether. There are many other sources that still will.

To correct the rumors, you can still get a loan for a custom boat built between 2003-2011. Just last week we funded an 03 Daytona w 525/, 06 Cobra 230 w/496, and 06 Mach 26 w 600hp.

The catch is that you must put a min 10% down, 720+ credit, 10-12yr term (15 on some boats), and rates are gonna be slightly higher.

Magic’s are a different beast altogether. The most you can get financed for is around 50k. Lenders go by NADA values. There is a big delta between NADA and market pricing on Magics. I expect Magic prices to drop quickly as a 100k Magic typically needs 50k down.