Pricey Used Boats

buckybadger wrote:

came across the same listing and was intrigued until I made it to the price. I couldn’t see myself offering close to that for an aluminum boat that age, regardless of condition. At 38k he’s not interested in throwing in the graph either.

Good to know I haven’t lost it yet lol. Out of curiosity on what a newer version of that boat, here’s an 1875 with a 200 hp Merc for $56k, so probably just over $60k with electronics, title, license etc. So figure the extra 50 hp on the motor is about 5k of the difference, and it’s even more ridiculous in my mind. $45k for a 10 year boat and any unknown problems, or $60k for brand spanking new, reputable dealer backed and a warranty. (using rough #’s obviously)

https://www.rapidmarine.com/inventory/2021-lund-1875-tyee-shakopee-mn-55379-10980165i

FWIW new Impacts start at $42k+ electronics, title, licensing etc. At this point buying new seems like a no-brainer unless you have cash and can find one before it hits the market or the seller finds out what used prices are doing.

Just saw this one pop up, I would think they paid less that boat brand new in 2000.

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You see guys all over pricing their boats to the moon.

I’m not saying there aren’t a lot of overpriced boats out there, but some guys are just out of touch with what used values are these days. Used boats are not as depreciation-prone as they were 10 years ago. In fact, depreciation isn’t a given at all on some models if they are well maintained.

The cost of new boats has skyrocketed and because of cheap and plentiful financing and longer loan terms, there are still plenty of buyers. So many buyers that the shortage of new boats and long lead times have driven up used prices because there is no new option available unless you want to wait until September for delivery.

I hear guys say all the time, “He wants more for that rig than he paid for it new.” Yeah, and what’s your point? A new one is now 2-4 times that. I just sold a 20 year old Lund for more than it cost new, but a new one after tax, fees, dealer rigging, etc is now more than double what I sold it for and that price doesn’t include electronics. Oh, and if you can’t find the boat you want in dealer stock, good luck getting one this summer.

Also, electronics used to be basically a throwaway. You’d get almost nothing more for a boat with a trolling motor and sonar unit than you’d get for one the same condition without electronics. Again, with the cost of fitting a boat with electronics these days easily going into the 2-5k_+++++ range, good electronics now add value even if they are older gen.

What about a snowmobile and a fishhouse? How do you calculate that added value…? 🤣

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TheFamousGrouse wrote:

I’m not saying there aren’t a lot of overpriced boats out there, but some guys are just out of touch with what used values are these days. Used boats are not as depreciation-prone as they were 10 years ago. In fact, depreciation isn’t a given at all on some models if they are well maintained.

The cost of new boats has skyrocketed and because of cheap and plentiful financing and longer loan terms, there are still plenty of buyers. So many buyers that the shortage of new boats and long lead times have driven up used prices because there is no new option available unless you want to wait until September for delivery.

I hear guys say all the time, “He wants more for that rig than he paid for it new.” Yeah, and what’s your point? A new one is now 2-4 times that. I just sold a 20 year old Lund for more than it cost new, but a new one after tax, fees, dealer rigging, etc is now more than double what I sold it for and that price doesn’t include electronics. Oh, and if you can’t find the boat you want in dealer stock, good luck getting one this summer.

Grouse – I agree with most of what you are saying. I can’t blame the guys who are listing them at these prices, I would be doing the same if I was selling. The boat market has just totally changed. When I bought mine 5 years ago everyone was making jokes about how boats lose half their value every 7 years, now they just keep going up (mostly due to price inflation of new ones as you mention).

I used to be a big believer in buying a 8-10 year old boat in good shape with low hours. In this market, give me the brand new Impact for $43,000 over any 15 year old boat for $22,000-$30,000.

Not a boat but it does float however. I was at L&M and saw a Yetti 5 gallon bucket for $40. Heavier and sports a sweet rope handle. I think I’ll stick to the $2 ones.

Mind if I throw in a new Ford Ranger, with a $35K mark-up?

HRG

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Superduty Fords are going for big numbers now. I see 2018’s with 30k miles going for more than I paid new in 2018.

https://minneapolis.craigslist.org/hnp/boa/d/hamel-lund-16-boat-with-spartan-trailer/7318217790.html

All top of the line electronics…from 1984!

Speaking of trucks, my local Ford dealers are adding $3,000 to $6,000 above sticker on new Super Duty trucks. In the fine print it’s a “market adjustment” charge.

I realize everyone’s situations are different. But paying over sticker price for a new vehicle is brutal. I wanted to move into a 3/4 ton diesel but not in the current market. I can wait.

With the states generally opening back up to most activities, I would have to assume the demand is going to taper off this summer as people get back to their regularly scheduled activities and probably be corrected by the end of the year…the supply side should start ticking up too as the US and foreign countries start getting back to normal. I would think if you are going for top dollar, now is the time and it won’t be like this next year…but thats just one guy’s guess.

There’s going to be another year of high demand on all rec toys as buyers who were not able to get what they wanted last year or this year will be back in the market next spring. If you didn’t have a boat ordered in the late winter or early spring, you’re going to have a very tough time getting one before late summer and many buyers will choose to sit on the sideline until next spring rather than take delivery in August-November.

In the auto and light truck markets, supply will be extremely constrained for the next year. Parts and microchip shortages are causing a huge bottleneck and there are way more buyers than there are available vehicles right now. Prices on in-stock vehicles are through the roof. There certainly will be vast numbers of buyers who choose to carry on with their old vehicles rather than pay a massive premium and fight over the limited pickings on dealer lots right now.

Also the auto rental companies sold off huge portions of their rental fleets as both business and leisure travel collapsed during COVID. Now as demand comes back, the fleets can’t be built up due to supply constraints and demand.

Interest rates are forecast to stay very low by historical standards, so as long as easy financing is available the buyers will be there in huge numbers for at least another year.

The construction market is starting to take a hit. Lumber prices are driving buyers out of the marketing and causing the canceling of projects.

I agree that it’s going to be a year before we see things get back to normal. Supply will stay low for a while in between the high demand and the reduced supply. Really tough spot for those who need a new vehicle right now and can’t just wait it out for a couple of years.

The other concerning thing is that auto maker investors may encourage them to keep supply low like this going forward to continue these new profit numbers. Which will keep prices high. Could be a fundamental shift in how cars are produced.

queenswake wrote:

The other concerning thing is that auto maker investors may encourage them to keep supply low like this going forward to continue these new profit numbers. Which will keep prices high. Could be a fundamental shift in how cars are produced.

Keeping supplies low has a trickle down affect as well. Suppliers will cut back their production line and workers (since not needed), raising the price of parts, cutting into the profit margin of cars.

The best thing the auto and boat industry did was advertising the need for a new vehicle/boat every few years.

We are hopefully actually witnessing this right now with lumber. People are maxed out and done with it and prices are dropping (small)…like I said before, everything “should” even out. This isn’t new, it just takes time.

Just need to wait it out…

Giggity…

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Ummmm…

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70k for a 2004!!!!

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MNdrifter wrote:

70k for a 2004!!!!

That might be the new leader in the clubhouse

BigWerm wrote:

<div class=”d4p-bbt-quote-title”>MNdrifter wrote:</div>
70k for a 2004!!!!

That might be the new leader in the clubhouse

Wait! Is that Ralph’s wake boat?
DT

That 2019 competitor 185 is more than what my new 2021 competitor 185 fsx is going to cost me. Same motor and accessories are very comparable price wise.

BigWerm wrote:

<div class=”d4p-bbt-quote-title”>MNdrifter wrote:</div>
70k for a 2004!!!!

That might be the new leader in the clubhouse

It’s not a fishing boat so I’m not too sure what these things go for but I’m kinda embarrassed to say this is actually a friend of mine who is selling it on FB.

deertracker wrote:

Wait! Is that Ralph’s wake boat?

No, I’m a Nautique guy.

Actually, an X-80 is a gigantic boat with twin V8s. That price is probably high, but that’s not your run-of-the-mill wake boat.

I paid $20k for this exact same boat, very similar options, but with a 4-stroke with less than half the hours. $35k – wow!

Wife already said I cannot sell

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Sorry guys, this one might take the cake…

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luttes wrote:

Sorry guys, this one might take the cake…

First sentence says Canadian dollars.

Dutchboy wrote:

<div class=”d4p-bbt-quote-title”>luttes wrote:</div>
Sorry guys, this one might take the cake…

First sentence says Canadian dollars.

Still over $49k US asking price

Dutchboy wrote:

<div class=”d4p-bbt-quote-title”>luttes wrote:</div>
Sorry guys, this one might take the cake…

First sentence says Canadian dollars.

It converts to $49,600. Then how do you pick it up?

Who wants to pay 77k for a 19ft nitro that doesn’t include graphs?

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