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It seems the economy has lowered the pricing on real-estate sales as well as the number of sales being made. I was curious to know if anyone has noticed if there has been any lower price differences of used boats, maybe they're not quite holding their value when it comes time to sell/buy them? Anyone noticed or are prices staying steady?
After looking at used boats, using various on-line resources and some print ads, I have come to the conclusion that some people think their hulls must be made of gold. Comparing the book values of the boats and motors to what is being asked, one will find that most asking prices are nowhere near book value. Usually at least $1500-3000 or more higher, and that is when using the highest valued model motor of the year/hp specified. Probably just gonna buy a new one in the next few years. That's what I ended up doing when I bought my current motorcycle. After a while of searching and comparing I decided everyone wanted too much for their used bikes. Went and bought a new one of my own and I am very satisfied with my choice. I know how it has been maintained and ridden from day one and I feel like I got a more than fair deal, especially considering what people around here were asking for their used machines. Just my $.02. Hope you get lucky and find what you are looking for at a fair price.
Used boat seem to be selling pretty quickly for top dollar. Not sure why exactly. Maybe people don't want to spend the money on a new boat? More people in the market for used boats vs new boats. There are still deals to be had, but you better stay on top of your game. I have noticed if a good deal pops up it is gone quickly.
What type of boat are you looking for? I just boat a new to me boat but I always browse for deals.
I think the biggest reason that you still see used boats selling for higher than book prices is not just based on the boat and motor but also the "extras" that the seller has on the boat, ie... trolling motor, electronics, seats, covers, ect. I completely agree that there are great deals still out there, for example i just got a 491 Ranger Comanche for $6000. Just takes some time to do your research.
With a bigger market for used boats now, I've been seeing boats going for higher values.
On the flip side though, I think some people are now upside down in their boat, or upside down in something else, and trying to recover with ridiculous asking prices for their used boat.......these are usually easy to spot and not worth chasing.
I wouldn't pay much more than 20% over average NADA book value, which is a pretty fair price if the condition is good.
As for the comment about extras, some people don't realize that although you may have spent a certain amount for that stuff new, it is now used and most the time obsolete or discontinued (ex: electronics). Same goes for carpet or any upgrades. Putting money into a boat is a horrible investment, because you'll never get it back out....you have to keep the boat long-term and get the use out of it yourself to make the most of it.
Or it could be these guys are buying $45,000 bassboats nothing down financing them for 20 years making for a $40.00 boat payment then losing their jobs needing to sell and the payoff is $47,500 thus asking top dollar.. just a thought.
couldnt have said it any bettr. well put joe.
[QUOTE=stratosjoe;465182]Or it could be these guys are buying $45,000 bassboats nothing down financing them for 20 years making for a $40.00 boat payment then losing their jobs needing to sell and the payoff is $47,500 thus asking top dollar.. just a thought.[/QUOTE]
Yea....I can't believe that you can finance a 45k boat for 20 years. I know folks that barely make 45k and own a 40k bass boat and a 40k truck........HM.
Later,
Geo
I sure do appreciate everyone's input. What everyone mentioned is pretty much what I had been thinking I was seeing The used cars and trucks out there have been going for more money thanks to the Cash-For-Clunkers program, I guess boats are bringing in a decent amount because????? I don't know why, just seems like they are.
With all this being said I'm halfway in the market to sell two boats, and maybe trade the 3rd boat in on a bigger boat.
I haven't checked the values yet but will do so this week. Possibly for sale will be two boats, one is an 80's model 19' Lowe Jon-boat with console and a late 70's model 70hp Evinrude and a 2007 trailmaster trailer (trailer has less than 100 miles). 24 volt, 80+ lb thrust tiller style trolling motor with less than 1/2 hour on it (0.5 hours). A fairly new Depth Finder, nice new seats, nice new butt seats, new 12 gallon gas tank, NO live-well but the boat is big enough you could have a portable livewell with no problem...this boat is 7' wide, DEEP and very VERY stable in the water...I'm 6'2 and weigh 250 lbs and have no problem being in the boat by myself and peeing off the side. Boat also has a cover that's about 5 years old or so.
Second boat for sale is a 1957 Alumacraft with the original Holsclaw break away style trailer (still has original hubcaps) and a late 60's/early 70's model 20 hp Johnson.
I'm definitely not in need of the money, nor am I looking to make any money off of either one...just a fair price for the vessels being sold. I just need to get rid of a few toys is what it all amounts to, wife's been on my ass about them being in the yard, I ain't been using either one, etc. I'll post pictures here when I get all my ducks in a row.