Will people start dumping their toys soon?

There’s definitely some deals out there.

This looks like a nice a affordable rig…..if I were in the market….

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Deuces wrote:

Same ol same, people thinking their 20 yr old boats are worth more than they are

Amen.

I always get a kick out of someone telling me what their boat/truck/trailer/etc that they are selling is “worth” after I make them a cash offer. What that machine is worth to you and what it is worth to me are completely different things. I’m getting to the point where I find more joy in walking away from sales than I do actually purchasing things.

B-man wrote:

There’s definitely some deals out there.

This looks like a nice a affordable rig…..if I were in the market….

I can’t believe that boat hasn’t sold…. smoking deal.

Yep, if I was boat shopping I’d be driving to Wausau right now

But some guys think that boat should be worth $14,000……lol

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Here’s a cheap newer boat (real high hours though, assuming it’s a guide boat?)

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2500 hours ocean guys don’t even run their motors that long.

Ripjiggen wrote:

2500 hours ocean guys don’t even run their motors that long.

Plenty of guys run them more than that (especially guides/commercial/coast guard). You should be able to expect 3,000-4,000+ hours out of a well maintained four-stroke outboard. Seems crazy, but they’re capable of it.

Yamaha uses an example of a pair of f-150’s with 8,700 hours each in some of their ads…..

Yes 2,500 hours is a pile for Minnesota, but the price reflects it. The average Joe here could easily get another decade out of that engine, or have it rebuilt for a few grand now for peace of mind.

That boat is all of $7,000-$12,000 less than a comp, and who knows what he would take….A $20,000 starting offer shouldn’t be a kick in the nuts, and just go from there.

Hope the pontoon market opens up soon.

B-man wrote:

Here’s a cheap newer boat (real high hours though, assuming it’s a guide boat?)

He is a guide on Vermilion. Living Legends Guide Service.

B-man wrote:

There’s definitely some deals out there.

This looks like a nice a affordable rig…..if I were in the market….

Yea, let me run to the atm real quick. What a deal

B-man wrote:

<div class=”d4p-bbt-quote-title”>Ripjiggen wrote:</div>
2500 hours ocean guys don’t even run their motors that long.

Plenty of guys run them more than that. You should be able to expect 3,000-4,000+ hours out of a well maintained four-stroke outboard. Seems crazy, but they’re capable of it.

Yamaha uses an example of a pair of f-150’s with 8,700 hours each in some of their ads…..

Yes 2,500 hours is a pile for Minnesota, but the price reflects it. The average Joe here could easily get another decade out of that engine, or have it rebuilt for a few grand now for peace of mind.

That boat is all of $7,000-$12,000 less than a comp, and who knows what he would take….A $20,000 starting offer shouldn’t be a kick in the nuts, and just go from there.

Here I was thinking 500 hours was a lot… Sweet boat though, hoping my next boat is a Skeeter 1900 with a gray motor on the back.

Dutchboy wrote:

<div class=”d4p-bbt-quote-title”>B-man wrote:</div>
Here’s a cheap newer boat (real high hours though, assuming it’s a guide boat?)

He is a guide on Vermilion. Living Legends Guide Service.

If it’s the same guy I’m thinking of he also had a off grid cabin up there for sale that sat on a couple acres if I remember right. Talked to him on the phone for quite awhile when we were looking for a lake place and he brought this boat up in conversation. I wasn’t quite ready for a off grid experience and neither was the wife but Vermillion area was pretty high on my list.

Finally settled on the place we have now about a hour closer to home. No regrets.

Drizzy Musky wrote:

<div class=”d4p-bbt-quote-title”>B-man wrote:</div>
There’s definitely some deals out there.

This looks like a nice a affordable rig…..if I were in the market….

Yea, let me run to the atm real quick. What a deal

For a newish (2008-2014) 18′ fiberglass boat with a kicker, smooth moves, and nice bowmount…..an asking price of $25,000 in April is a heck of a deal. A new one would be close to twice that….*plus tax

Most like it are $30,000-$35,000 and sell all day in a normal spring.

If you find a better one, please post them here to help out guys that are shopping

I think it’s still too early and I’d imagine a lot of people haven’t gotten their boats out of storage yet. Others haven’t felt the full effects of their new financial situation. I don’t think people fully realize the economic storm that is coming and when that happens, look out.

I feel bad for the dealers who put in orders months ago for their boats on their sales for over the next couple of months. Yikes. Also, how many people who put downpayments on a new boat back in January who are now pulling out of sales. To go from the last few banner years of super expensive boats to a complete halt must be shocking for the entire industry.

B-man wrote:

<div class=”d4p-bbt-quote-title”>Ripjiggen wrote:</div>
2500 hours ocean guys don’t even run their motors that long.

Plenty of guys run them more than that (especially guides/commercial/coast guard). You should be able to expect 3,000-4,000+ hours out of a well maintained four-stroke outboard. Seems crazy, but they’re capable of it.

Yamaha uses an example of a pair of f-150’s with 8,700 hours each in some of their ads…..

Yes 2,500 hours is a pile for Minnesota, but the price reflects it. The average Joe here could easily get another decade out of that engine, or have it rebuilt for a few grand now for peace of mind.

That boat is all of $7,000-$12,000 less than a comp, and who knows what he would take….A $20,000 starting offer shouldn’t be a kick in the nuts, and just go from there.

Don’t disagree B-Man but the reason that one is cheap is because it has a 20-25 years worth of hours in a state like Minnesota. Not because of a pandemic or people dumping their toys.

I’m not really a believer that toys are going to be crazy cheap. Discounted, yes but crazy cheap? I don’t think so. The other thing is if stuff does get real cheap I don’t think there are a lot of people except the super rich who will actually buy. If things get as some predict it will be awfully hard to crack the piggy bank on a luxury item.

But it really doesn’t matter what we think……time will prove this all out one way or another soon enough.

If you think guys overvalue their boats, let me tell you what happens when they want to sell their business. Biggest obstacle is almost always convincing him the business is not worth what he thinks it’s worth.

bumping this thread up. been a month since the last comment. anyone that’s been watching see the prices of toys (new or used) dropping significantly?

crappie55369 wrote:

bumping this thread up. been a month since the last comment. anyone that’s been watching see the prices of toys (new or used) dropping significantly?

Nope, I’ve been watching the slightly used market pretty closely and I’d say the inventory is shrinking. Which I’d guess is due to boating season starting up and free time and money still on boat owners side.

Nothing is crashing yet – but the dealer I talked to said that new boats are not moving. I would expect really good deals now/soon if you are shopping new.

With the super efficient unemployment insurance system, the $600/week bump, and that there is nothing to spend on, I don’t think people are strapped yet. Plus, their “used” toys might be the most used item right now.

If the $600 expires in June and we really start seeing businesses that are permanently closed, or the effects of people holding on to all their money, delaying remodeling or large purchases, etc, things might change.

And anybody on unemployment right now is probably making what they did working with the extra $600 tax free bump they all got. At least that’s the case here in Mn. with some of the highest benefits in the country where Hubert Humphrey still walks the halls of the capital.

I agree. This is a long term play not something that will have a significant impact in weeks. The unemployment boost or whatever it is that has people making more now without working than when they did work will help some hang on to toys. The impact of furloughs hasn’t really been felt yet either as many have only seen changes on at most a few paychecks. If this topic is bumped in October, I’d think there will be more deals to be had. Most people are fairly short-sighted with their finances and the idea of making payments on a toy in storage with depleted savings accounts come Fall may flip the switch.

If it’s paid for why dump it. A loan and job/ financial strain up to the individual.

I don’t see any fantastic deals out there..

I was watching/looking for an older 16 ft. aluminum v with a flat floor in March. Boats that I thought were overpriced were gone in a matter of a couple days. If it was in good shape and less than 12 years old I thought you would be better off buying new. Electronics/trolling motor was outdated and many of the trailers were all rusty. Most wanted 2/3 to 3/4 of new and sold in a day or 2. More power to a guy if he can get it.

on one hand you only live once right but on the other financing depreciating assets is generally a bad idea.

I did some on the side financial help stuff. basically get out of debt planning and based on the messes i saw “you only live once” people got themselves into, i’m typically on the side of not financing in depreciating assets. Sometimes money is cheap to borrow though and while not really prudent, its totally feasible if you are relatively debt free.

re 15 yr vs 30 yr. we refinanced recently into a new 30yr fixed.

however we will be paying it like its a 15 year. it will take just as long to pay off and cost us and additional 2 grand in interest. to me its a $133 dollar yearly fee to be able to back payments down in case of a crisis.

my buddy works for a company that does a ton of small business 401k’s or simple IRA’s. he sits and speaks individually with employees about options. He is simply amazed at the number of people who won’t even do the company match. many have put nothing into retirement. but they drive brand new vehicles.

As i said above i get it. you only live once, nothing is guaranteed but there is such a thing as intelligent risk taking.

3rdtryguy wrote:

nd anybody on unemployment right now is probably making what they did working with the extra $600 tax free bump they all got.

I’d love to know how you came up with this. In MN, unemployment is a percentage of your wage AND that is only up to a maximum of just over $700 a week. Yes, you may be eligible for the additional payment of $600, but that’s a one time deal.

All kinds of urban legends flying around now on Facebook about how some people are “making more on unemployment than they did working”. BS. Not in MN they ain’t.

Grouse

TheFamousGrouse wrote:

All kinds of urban legends flying around now on Facebook about how some people are “making more on unemployment than they did working”. BS. Not in MN they ain’t.

I have a few friends that have sadly lost their jobs and have had to claim unemployment. They are netting more than they made previously. mainly due to the extra $600 a week.

TheFamousGrouse wrote:

All kinds of urban legends flying around now on Facebook about how some people are “making more on unemployment than they did working”. BS. Not in MN they ain’t.

Grouse

Sorry Grouse these aren’t urban legends.

I personally know numerous people making more on unemployment right now. I know a small business owner that lives near me. He can not get people to come back to work. They do not want to risk losing their extra $600 a week. He said he can’t blame them.

I know one guy that used to put in over 70 hours a week. Now he’s putting in 20 and said he’s making more than when he was working 70 hours.

I know another person that isn’t working at all but they’re making double what they used to. Granted they were only working part-time.

I also know of a number of people that were cut back to 32 hours so they could claim partial unemployment and still receive the extra $600. Business owners are doing this intentionally to help out their employees.

This $600 a week bonus was not very well thought out.

For all those majorly affected I hope everything goes back to normal soon.

Hard for the feds to have a blanket number across all the states since the unemployment dollars are very different state to state. Minnesota’s is 3x higher than some states, it is all based on cost of living

Joe Scegura wrote:

<div class=”d4p-bbt-quote-title”>TheFamousGrouse wrote:</div>

Grouse

Sorry Grouse these aren’t urban legends.

I personally know numerous people making more on unemployment right now. I know a small business owner that lives near me. He can not get people to come back to work. They do not want to risk losing their extra $600 a week. He said he can’t blame them.

I didn’t realize this 600 extra was per week. I thought it was a 1 time payment. Now I see what’s going on.

Can I lay myself off?

So you can also refuse a recall and just keep collecting? Nice.

Grouse