With the market crashing and the global panic happening, how much do you think the demand and price of recreational toys is going to fall?? (Boats, campers, atvs, motorcycles, etc)
I’m debating on buying a boat to spiff up and flip, but I don’t want to sit on it or break even either. It would be in the $20,000-$25,000 range, so not a super high ticket item, but it would definitely be affected.
How bad is the used toy market going to be in the coming months?
Ha funny you post this. I was just pondering this last night as I was perusing the FB marketplace looking for a boat in the same price range you are. The hysteria is going to have to increase substantially more before people start dumping toys at a steal price imo. Don’t think the hysteria is going to last long enough to get to that point.
If it does you’re priorities will most likely not include a boat.
I wouldn’t bank on it, although it is possible. The markets have tanked, but the economic effects, if any, would lag.
I know that I have put any upgrades or new acquisitions on hold for the time being when it comes to toys. I assure you I am not alone.
I don’t see it greatly impacting prices on new boats and recreational vehicles, but this could impact the used market if more and more people are economically impacted by some “crash” or whatever it is being called. Those with the boat sitting in their garage as a social piece that makes it out a few holiday weekends a year may consider dumping them.
With that said, if you are onto something and the bottom does fall out of the market with people dumping new boats or even dealers wanting to dump inventory…I’ll be watching. I’ve only had my current boat for 2 years but the title is in-hand and upgrades are always intriguing 
Oh private market? That’s a little different. I think Ice Cap has it right.
I’m a multi multi billionaire because my crystal ball allows me to see the economic future and trust me, the opposite is actually going to happen. With everything shutting down, the price of all goods are going to increase dramatically.
The market was supposed to dip but it had been holding off but with this outbreak, who knows whats going to happen…
I was in the market for a new UTV and had pricing down for the model I wanted.
I’m not sure if prices will fall but the dealers have a butt load of new inventory sitting around.
I decided to just hold off for now anyhow. If they don’t fall, they for sure aren’t going up.
I also have some funds available that might be better put in the market when it hits bottom.
In BK’s World…
*Stock Market drops. No on lost any money if they didn’t sell.
*Events and businesses closing. Peoples income/jobs being lost.
*People cut back on 1st world comforts. Cable TV, extra phones, data plans.
*More cutbacks and more people without income/jobs and it will be time to make a decision to tap into retirement funds or sell the big toys.
*It’s at this time most will start selling big toys but everyone else is going to be in the same boat so to speak. They won’t want to take savings to buy a comfort toy and without steady income, loans are going to be tough to qualify for.
Gawd I’m a pessimist today! 
My wife has a friend that works at a bank and she said there is a run at the bank of people rushing to close their accounts and take all their money out.
My wife has a friend that works at a bank and she said there is a run at the bank of people rushing to close their accounts and take all their money out.
If one is of the panicked mindset that there won’t be any more goods on store shelves and you need to self quarantine to avoid getting sick, what good does cash do you? Wouldn’t it be better to keep $ in bank account and purchase via digital means?
My wife has a friend that works at a bank and she said there is a run at the bank of people rushing to close their accounts and take all their money out.
jesus really!! toilet paper is one thing but hiding money in the mattress!? I thought we had moved past that. Sure hope that behavior doesn’t spread or we are in trouble
With the market crashing and the global panic happening, how much do you think the demand and price of recreational toys is going to fall?? (Boats, campers, atvs, motorcycles, etc)
I’m debating on buying a boat to spiff up and flip, but I don’t want to sit on it or break even either. It would be in the $20,000-$25,000 range, so not a super high ticket item, but it would definitely be affected.
How bad is the used toy market going to be in the coming months?
You’d have to find a SCREAMING deal on a used boat to make a decent profit off of it, IMO. I got an older model Tyee a few years ago that I refurbished the interior on. I pondered flipping it after I was done, but in the end it was still a 1994 model boat, with a 1994 motor, and even though the interior was brand new, I doubt I could have made enough of a profit on it to make up for the cost of supplies and especially my time. Took a lot of time to get that project done. Twice the time and twice the budget I had planned for (and I over estimated when I planned the project).
What I’m hoping now is that I may be able to get a little more for it in a few years when I am ready to upgrade then I would have if I hadn’t done the refurb.
My wife has a friend that works at a bank and she said there is a run at the bank of people rushing to close their accounts and take all their money out.
Nothing but pure panic is not helping this.
<div class=”d4p-bbt-quote-title”>SuperDave1959 wrote:</div>
My wife has a friend that works at a bank and she said there is a run at the bank of people rushing to close their accounts and take all their money out.Nothing but pure panic is not helping this.
I’m sure that terrorist have learned a lot from this. People will go bat chit crazy with just a little provoking.
Simplication, lose 200,000, takes 8 years to get it back, you aren’t breaking even ,you just lost 8 years of growth. You took a big hit.
My wife has a friend that works at a bank and she said there is a run at the bank of people rushing to close their accounts and take all their money out.
They must think the price of one square of toilet paper will cost more than a dollar so they are just going to use dollars to save money.
I don’t get it.
With the skyrocketing prices of ebay TP, maybe they figure $1 bills will soon be a cheaper option?…..Hmmmmm…
Back to the original point.
Very few people are sharp enough to make any real money on boats. A couple hundred bucks ya, those are around. However if you are plunking 20-25k to flip a boat you better be willing and able to sit on it until you can make your money. If this money is just sitting around then maybe, if you are borrowing or might need to money in a specific time period I would say no.
If you are one of the sharp ones sell your Grady and wait for that deal to come along.
Back to the original point.
Very few people are sharp enough to make any real money on boats. A couple hundred bucks ya, those are around. However if you are plunking 20-25k to flip a boat you better be willing and able to sit on it until you can make your money. If this money is just sitting around then maybe, if you are borrowing or might need to money in a specific time period I would say no.
If you are one of the sharp ones sell your Grady and wait for that deal to come along.
I guess I’m a sharp one then Dutchy, thanks for the compliment 
In the past 7 years I’ve owned 7 boats (counting the two I have right now). I’m patient and watch the boat market like some guys watch the stock market.
Of those seven, only two were specifically bought to flip (and I made several thousand dollars on each). The other five boats have been “mine.” Broke even on one after two years of running it, and made $500-$3,000 on the others.
It’s all about timing the market and jumping on an opportunity. Six of the seven boats I bought were from November to February. Every winter I’m like a spider in a corner, waiting for an opportunity 
I’d pay cash for the one I have my eye on right now, add some goodies, and (normally) make a $2,000-$4,000 profit in 4-8 weeks.
My hesitation is that this is obviously far from a “normal” spring season so far. I don’t want to have $20k tied up into a boat that might not sell if everyone is investing in their toilet paper portfolio instead 
The Grady isn’t going anywhere anytime soon. She was a unicorn, and I paid a fair price for it (for February). If I sold it in the next couple years I’ll break even on the hull/motor/trailer, but I’m going to lose money on all of the new electronics I bought for it.
In BK’s World…
*Stock Market drops. No on lost any money if they didn’t sell.
*Events and businesses closing. Peoples income/jobs being lost.
*People cut back on 1st world comforts. Cable TV, extra phones, data plans.
*More cutbacks and more people without income/jobs and it will be time to make a decision to tap into retirement funds or sell the big toys.
*It’s at this time most will start selling big toys but everyone else is going to be in the same boat so to speak. They won’t want to take savings to buy a comfort toy and without steady income, loans are going to be tough to qualify for.Gawd I’m a pessimist today!
Unfortunately you are spot on this time.
The best thing about this economic climate is money is cheap. Now is a good time finance or refinance. Refinance a house now or make a big renovation as the cost of capital is down.
My boat is kinda for sale 
if it sells I doubt i’ll run out and replace it. Might take my time and see how things shake out. I’m thinking for a jug of booze or a case of beer Bman might let me tag along and let me score on a deal he passes up. 
I don’t think most people understand just how much money is being lost in Minnesota daily as a result of this scare. Whether the health scare is real or not, the loss of business is real.
Whether the health scare is real or not, the loss of business is real.
I don’t know one person who isn’t concerned about their jobs and financial futures. This isn’t a slow down, these shutdowns are literally shutting $hit down. Our economy is so service based, when there is no services needed, wtf happens?
Your restaurants, motels, car rental companies, Uber, Cabs are all going to take a hit big time.
Your restaurants, motels, car rental companies, Uber, Cabs are all going to take a hit big time.
I don’t disagree but it was standing room only at our local restaurants in south minneapolis tonight. Looked like any other weekend.
I was mainly referencing restaurants dependent on tourism & conventions and product shows. The restaurants around Target Field will be hurt if the Twins don’t play and I’m sure the venues around the Wild and Timberwolves will also suffer.
Ya all better make it quick as I think that the stock market had a decent gainer today!
No I’m not recouping my losses yet but @ least today wasn’t a “Debbie Downer” day!
I was mainly referencing restaurants dependent on tourism & conventions and product shows. The restaurants around Target Field will be hurt if the Twins don’t play and I’m sure the venues around the Wild and Timberwolves will also suffer.
Agreed. The folks that need those jobs supporting the teams are going to be hurting. Sounds like some teams and even players are trying to help.
My wife has a friend that works at a bank and she said there is a run at the bank of people rushing to close their accounts and take all their money out.
No toilet paper and crappy markets there going to use there money to wipe with, hope they took it out in 1 dollar bills LOL
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