Boat Price Reckoning

  • AnotherFisherman
    Posts: 609
    #2130461

    I picked up of 2001 Lund Pro Sport 1700 this spring at a price that most here would laugh and point at me for. And I was hesitant myself, but after waiting a few years for my first boat, I have zero regrets!

    I think prices have sort of leveled off, but I’m not sure if prices will drop significantly based on the new boat price increases.

    xplorer
    Cloquet, MN
    Posts: 682
    #2130486

    I picked up of 2001 Lund Pro Sport 1700 this spring at a price that most here would laugh and point at me for. And I was hesitant myself, but after waiting a few years for my first boat, I have zero regrets!

    I think prices have sort of leveled off, but I’m not sure if prices will drop significantly based on the new boat price increases.

    I ran a 2000 1700 ProSport/90 Honda for twelve years before upgrading to a 1850 Tyee. Loved that rig! But needed something just a bit bigger for week-long family camping trips to Rainy/Namakan up in VNP.
    I’d probably still be running the 1700 if it weren’t for the camping trips. There were alot of eyes/smallies/lake trout/salmon that came over the rails of that boat. Enjoy!!

    AK Guy
    Posts: 1390
    #2130523

    Would be nice to be able to get a lightly used 4 yr old fish house for under 10k again

    So true. I’m waiting for the used fish house market to be a buyers market.

    disco bobber
    Posts: 294
    #2130570

    The RV lot near me is stocked better this year. I haven’t been around any boat dealers. I do wonder what effect interest rate increases will have on 12 year financing for toys.

    Not a large sample size, but I have noticed that restaurants don’t seem as busy as they should be.

    Youbetcha
    Anoka County
    Posts: 2851
    #2206330

    Old thread but they are still increasing YOY. They will just produce less if demand slows down.

    fishthumper
    Sartell, MN.
    Posts: 11923
    #2206333

    I don’t think there will be much price effect on new boats anytime soon if ever. I do believe in a few years there is going to be a ton of used ones hit the market. Lots of recent new buyers who will move onto something else shortly. I hope this is the case anyway. I’m hoping to cash in on it when it happens. Score a nice used boat for a lot less than a new one. That’s the plan anyway.

    Ripjiggen
    Posts: 11586
    #2206335

    Old thread but they are still increasing YOY. They will just produce less if demand slows down.

    Yup…

    isu22andy
    Posts: 1739
    #2206339

    Personally I hope to see the little guys building boats that are actually built for a lifetime out compete the Brunswick clowns for 2/3 the price . Ie Kingfisher , Boulton , alumaweld. That said I personally think we are seeing a bit of a price reduction in the used market lately .

    Youbetcha
    Anoka County
    Posts: 2851
    #2206340

    I don’t think there will be much price effect on new boats anytime soon if ever. I do believe in a few years there is going to be a ton of used ones hit the market. Lots of recent new buyers who will move onto something else shortly. I hope this is the case anyway. I’m hoping to cash in on it when it happens. Score a nice used boat for a lot less than a new one. That’s the plan anyway.

    I have the same plan

    buckybadger
    Upper Midwest
    Posts: 8167
    #2206343

    <div class=”d4p-bbt-quote-title”>fishthumper wrote:</div>
    I don’t think there will be much price effect on new boats anytime soon if ever. I do believe in a few years there is going to be a ton of used ones hit the market. Lots of recent new buyers who will move onto something else shortly. I hope this is the case anyway. I’m hoping to cash in on it when it happens. Score a nice used boat for a lot less than a new one. That’s the plan anyway.

    I have the same plan

    There’s plenty of pent up demand to go around in the slightly used market. There are 20 year old “clean” aluminum boats still going for absurd prices.

    “$16k and all it really needs is for the carpet and rotted transom to be replaced, and you’re good to go…if you don’t mind the dock rash and rusted shorelander trailer” jester

    Youbetcha
    Anoka County
    Posts: 2851
    #2206348

    There’s plenty of pent up demand to go around in the slightly used market. There are 20 year old “clean” aluminum boats still going for absurd prices.

    “$16k and all it really needs is for the carpet and rotted transom to be replaced, and you’re good to go…if you don’t mind the dock rash and rusted shorelander trailer” jester

    You forgot about the burned wheel bearings jester

    lindyrig79
    Forest Lake / Lake Mille Lacs
    Posts: 5797
    #2206353

    I was thinking the boat market would be getting soft soon. And maybe it will. But I just sold my 20 year old Crestliner this morning had it posted less than 12 hours and had multiple offers.

    Bearcat89
    North branch, mn
    Posts: 20354
    #2206356

    I have bought and sold 10 boats in the last 2 years. Bought low, cleaned up and sold way higher. The deals are there to be had. Just have to sift through a bunch of junk. But these are all 10k boats and then flipped for 15 to 20. Have to take advantage of a hot market when it’s hot.
    With that said I want a much newer nicer boat as well. But I can’t justify the current costs

    crappie55369
    Mound, MN
    Posts: 5757
    #2206374

    ….I do believe in a few years there is going to be a ton of used ones hit the market. Lots of recent new buyers who will move onto something else shortly. I hope this is the case anyway. I’m hoping to cash in on it when it happens. Score a nice used boat for a lot less than a new one. That’s the plan anyway.

    I feel like I’ve been hearing this is right around the corner for the last 3-4 years now. I hope you’re right but I don’t think it will be happening

    queenswake
    NULL
    Posts: 1148
    #2206388

    I feel like I’ve been hearing this is right around the corner for the last 3-4 years now. I hope you’re right but I don’t think it will be happening

    Right. It would take an enormous market crash in order for a big price reduction in anything. There is definite price softening going on in things like campers right now, but those have always been produced at much higher numbers than boats. There is too much demand out there.

    I think prices will stabilize. The fact that many manufacturers extended the spring rebates this year is very telling that new orders are slowing down. But this just means going back to how it was a few years ago and does not mean price reductions being these rebates.

    KPE
    River Falls, WI
    Posts: 1679
    #2206407

    Personally I hope to see the little guys building boats that are actually built for a lifetime out compete the Brunswick clowns for 2/3 the price . Ie Kingfisher , Boulton , alumaweld. That said I personally think we are seeing a bit of a price reduction in the used market lately .

    Man, I don’t know anything about boulton or alumaweld, but Lund/ crestliner and kingfisher are apples and oranges. Show me a kingfisher for 2/3 the price of a similarly equipped Lund model… No way. I’ve been loosely shopping kingfishers for 3 years now because my goal for next/ final boat is kingfisher, and let’s just say I certainly hope the quality matches the price or I’m in for complete heartbreak. They do everything for 4/3 the price of brunswick so I certainly hope they do it well.

    isu22andy
    Posts: 1739
    #2206408

    <div class=”d4p-bbt-quote-title”>isu22andy wrote:</div>
    Personally I hope to see the little guys building boats that are actually built for a lifetime out compete the Brunswick clowns for 2/3 the price . Ie Kingfisher , Boulton , alumaweld. That said I personally think we are seeing a bit of a price reduction in the used market lately .

    Man, I don’t know anything about boulton or alumaweld, but Lund/ crestliner and kingfisher are apples and oranges. Show me a kingfisher for 2/3 the price of a similarly equipped Lund model… No way. I’ve been loosely shopping kingfishers for 3 years now because my goal for next/ final boat is kingfisher, and let’s just say I certainly hope the quality matches the price or I’m in for complete heartbreak. They do everything for 4/3 the price of brunswick so I certainly hope they do it well.

    Can’t say I’ve honestly priced any of the new ones haha . Definitely wrongly assumed the smaller brands would be cheaper or equal price to the big names . I’m in the 20 year old probably rotted transom group .

    Bearcat89
    North branch, mn
    Posts: 20354
    #2206419

    <div class=”d4p-bbt-quote-title”>isu22andy wrote:</div>
    Personally I hope to see the little guys building boats that are actually built for a lifetime out compete the Brunswick clowns for 2/3 the price . Ie Kingfisher , Boulton , alumaweld. That said I personally think we are seeing a bit of a price reduction in the used market lately .

    Man, I don’t know anything about boulton or alumaweld, but Lund/ crestliner and kingfisher are apples and oranges. Show me a kingfisher for 2/3 the price of a similarly equipped Lund model… No way. I’ve been loosely shopping kingfishers for 3 years now because my goal for next/ final boat is kingfisher, and let’s just say I certainly hope the quality matches the price or I’m in for complete heartbreak. They do everything for 4/3 the price of brunswick so I certainly hope they do it well.

    Ripjiggen
    Posts: 11586
    #2206440

    crappie55369 wrote:
    I feel like I’ve been hearing this is right around the corner for the last 3-4 years now. I hope you’re right but I don’t think it will be happening

    Right. It would take an enormous market crash in order for a big price reduction in anything. There is definite price softening going on in things like campers right now, but those have always been produced at much higher numbers than boats. There is too much demand out there.

    I think prices will stabilize. The fact that many manufacturers extended the spring rebates this year is very telling that new orders are slowing down. But this just means going back to how it was a few years ago and does not mean price reductions being these rebates.

    X2

    ryancs
    Posts: 20
    #2206546

    crappie55369 wrote:
    I feel like I’ve been hearing this is right around the corner for the last 3-4 years now. I hope you’re right but I don’t think it will be happening

    Right. It would take an enormous market crash in order for a big price reduction in anything. There is definite price softening going on in things like campers right now, but those have always been produced at much higher numbers than boats. There is too much demand out there.

    I think prices will stabilize. The fact that many manufacturers extended the spring rebates this year is very telling that new orders are slowing down. But this just means going back to how it was a few years ago and does not mean price reductions being these rebates.

    X2

    Even during the 2008 crash, boat sales in the upper midwest didn’t slow like they did in the rest of the country.

    We won’t see drastic reductions in price anytime soon. If anything, they’ll extend the loan length to make it more “affordable” You can already roll an existing mortgage into a 40 year term, so why not a 20 or 25 year term on your boat LOL

    B-man
    Posts: 5801
    #2206557

    I wouldn’t hold your breath on a crash in toy prices, sure it might slow down, but if you’re thinking you could get a $40,000 boat for $25,000 in the future it likely won’t happen.

    The biggest advantage you can make for yourself is buying with cash (now, tomorrow, or a year from now), and not waiting for an unpredictable and unlikely event.

    With toy loans at 7%+ now (excellent credit), your largest savings will be with money you already have.

    ganderpike
    Alexandria
    Posts: 1095
    #2206558

    Can confirm boat sales have drastically fallen off. Many rebates now are only on 2023 stock/inventory, no one wants to buy a 2023 boat when 2024 mode year boats are a month out. Would be pissing away $5000 essentially. Brunswick or fiberglass manufacturers have no intention of dropping prices soon.

    Come April 2024, boat sales will still be high, and that’s what manufacturers bank on. Never underestimate how many rich farmers there are out there.

    BAR
    Posts: 82
    #2206567

    I have been shopping for awhile, no hurry and am starting to see inventory with new boats stick around. Used is still moving pretty quick.

    tmyboy2001
    Lakeville, MN
    Posts: 282
    #2206615

    Don’t discount the people that are selling their used boats at a significant profit, then buying something used that is also at an inflated price. I just sold my 30 year old pontoon yesterday for a price I never would have dreamed I’d get…more than double what I paid for it 10 years ago, and in much rougher condition. Yes, when I go buy something used but newer that’s also marked up, I’ll be paying more. But a lot of it is proportional. Just my opinion.

    bigcrappie
    Blaine
    Posts: 4330
    #2206620

    If you want the boat buy it, prices are only going up every year. I bought in 2021 and the 2023 model is $12k more this year. My old boat I bought in 2008 for $26k is now selling new for $52k. So waiting is only going to cost you more.

    Youbetcha
    Anoka County
    Posts: 2851
    #2206635

    I would have to imagine the average boat is on some kind of loan. With how the average car payment is around 1k a month i could imagine the slightly used market could get better. But a guy can dream right?

    dirtywater
    Posts: 1537
    #2206641

    I would have to imagine the average boat is on some kind of loan. With how the average car payment is around 1k a month i could imagine the slightly used market could get better. But a guy can dream right?

    That’s a jaw-dropping number to me. Is that really the average car payment? I’ve never had more than a $350 payment for a car. Ive always known I was a bit on the frugal side, but dang. I’d consider paying twice that for a great vehicle but not nearly 3x.

    Youbetcha
    Anoka County
    Posts: 2851
    #2206643

    <div class=”d4p-bbt-quote-title”>Carter Johnson wrote:</div>
    I would have to imagine the average boat is on some kind of loan. With how the average car payment is around 1k a month i could imagine the slightly used market could get better. But a guy can dream right?

    That’s a jaw-dropping number to me. Is that really the average car payment? I’ve never had more than a $350 payment for a car. Ive always known I was a bit on the frugal side, but dang. I’d consider paying twice that for a great vehicle but not nearly 3x.

    I lied a little the average is around $700. But theres a record share of payments over 1,000.

    Gitchi Gummi
    Posts: 3025
    #2206646

    That’s a jaw-dropping number to me. Is that really the average car payment? I’ve never had more than a $350 payment for a car. Ive always known I was a bit on the frugal side, but dang. I’d consider paying twice that for a great vehicle but not nearly 3x.

    Americans love debt financing.

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