Shogren on Used Boats: "Be prepared for reality."
#11
Lakeside Restorations.com
Commercial Member
You may want to check out what I do...
Sorry for being a smart azz.. lol
Jamie / Lakeside Restorations
__________________
www.LakesideRestorations.com 570-639-2628
We Make Fast Toys Faster, Cool Toys Cooler and Old Toys New!.. Performance, Custom & OEM Parts & much MORE![/CENTER]
www.LakesideRestorations.com 570-639-2628
We Make Fast Toys Faster, Cool Toys Cooler and Old Toys New!.. Performance, Custom & OEM Parts & much MORE![/CENTER]
#12
Banned
#13
Registered
VIP Member
Join Date: Dec 2010
Location: McHenry, Il
Posts: 56
Likes: 0
Received 0 Likes
on
0 Posts
"Sellers need to list the price". I totally agree! I have to admit, if your to lazy to list the price, I'm too lazy to call.
#14
Ideally buy someone else's restored boat!
#15
Supply ----- Demand
That's all it is in a free (relatively) market such as ours.
Prices "too high" or "too low" is all BS.
The market or approprite price for ANY item of any type at any given time does not care AT ALL about production cost, carrying or holding cost, or too much about your emotions. It is, simply,
"What a willing buyer pays a willing seller".
So if a business cannot turn a profit, they go out of business or change their methods, as the case may be. Since boat production is complex and expensive, many companies have gone out of business, downsized or merged. And when demand increases again some day, as it most certainly will, a lot of new companies, and maybe some familiar older names, will appear/reappear like magic.
That's all it is in a free (relatively) market such as ours.
Prices "too high" or "too low" is all BS.
The market or approprite price for ANY item of any type at any given time does not care AT ALL about production cost, carrying or holding cost, or too much about your emotions. It is, simply,
"What a willing buyer pays a willing seller".
So if a business cannot turn a profit, they go out of business or change their methods, as the case may be. Since boat production is complex and expensive, many companies have gone out of business, downsized or merged. And when demand increases again some day, as it most certainly will, a lot of new companies, and maybe some familiar older names, will appear/reappear like magic.
#16
Suppy and demand is a good argument but also note that demand is also "financed demand" so if there is no financing then that side of the equation is significantly reduced. I read another one of Shogren's blogs and he mentioned 97% of the deals he is doing are cash sales.
So the buyer sitting on a pile of cash is clearly in the driver's seat! It is not only the performance boat market, my brother in law is in the yacht business and the only deals getting done are cash deals. On a 4MM boat banks want 50% down with flawless credit AND solid annual income. If you have 5MM in the bank, 2MM to put down but no job you won't get financed. If you have 500K to put down, 2MM in annual income you won't get financed (on a 4MM boat). It really takes the wind out of the "sales" after the hoopla surrounding a boat show dies down.
So the buyer sitting on a pile of cash is clearly in the driver's seat! It is not only the performance boat market, my brother in law is in the yacht business and the only deals getting done are cash deals. On a 4MM boat banks want 50% down with flawless credit AND solid annual income. If you have 5MM in the bank, 2MM to put down but no job you won't get financed. If you have 500K to put down, 2MM in annual income you won't get financed (on a 4MM boat). It really takes the wind out of the "sales" after the hoopla surrounding a boat show dies down.
#17
Lakeside Restorations.com
Commercial Member
Kristin said thanks..
Hope all is well with you & Pinky... J
.
__________________
www.LakesideRestorations.com 570-639-2628
We Make Fast Toys Faster, Cool Toys Cooler and Old Toys New!.. Performance, Custom & OEM Parts & much MORE![/CENTER]
www.LakesideRestorations.com 570-639-2628
We Make Fast Toys Faster, Cool Toys Cooler and Old Toys New!.. Performance, Custom & OEM Parts & much MORE![/CENTER]
#18
No question used boats are going cheap if they go at all, except if bought from the dealer himself. I think most boat owners are fully aware that their values have been cut dramatically the last two years. But as new boat prices surged forward, I don't see anyone offering new boats at wholesale prices, not this year at least.
Bottom line is this. If you currently have a boat and need to sell it, you'll not get what you wish for. But if you go looking for used boats at a dealer, They will tell you all about NADA values and how much more a new one costs. One of the few times where supply of new boats has shrunk, the supply of used boats is plentiful, and the only real loser is the person that already has a a boat and wanted to sell.
The only trouble with the current market, is how to come up with new boaters that can afford to lose money in a sinking ship. No pun intended.
Bottom line is this. If you currently have a boat and need to sell it, you'll not get what you wish for. But if you go looking for used boats at a dealer, They will tell you all about NADA values and how much more a new one costs. One of the few times where supply of new boats has shrunk, the supply of used boats is plentiful, and the only real loser is the person that already has a a boat and wanted to sell.
The only trouble with the current market, is how to come up with new boaters that can afford to lose money in a sinking ship. No pun intended.
#19
This is true. How many of us would love to buy a new boat but really just cannot. What helped build America, gentlemen, was INSTALLMENT BUYING. As long as loans will be difficult to get, boats will be difficult to buy. The last three boats I bought I financed myself against my own stock holdings. But how many others out there can do that? Loans were how the average guy was able to get a decent house, car, boat etc. for decades. But now its not just the "economy" but life in general that has changed radically. How many people today keep the SAME job for 5 years? My father worked for the same company for 30 years. Most of the older oil men and many other "company men" did the same. As on another thread regarding the health of print media, life is changing fast and it is not just economy related. We have an enormous number of undocumented people streaming into this country from many different countries and I don't see the banking industry loaning much money anytime soon to people who cannot be assured of the same or similiar job or address in 5 years or who don't have much personal collateral.
#20
Registered
Join Date: Feb 2002
Location: Lake Michigan
Posts: 6,627
Likes: 0
Received 0 Likes
on
0 Posts
"With that said Scott probably needs to take some of his advice I check his website regularly and some of that stuff has been on there for years"
Those are brokerage boats...And yes the owners need to come to reality if they want them sold.
He won't let his inventory turn stagnant. Thats why you see ebay auctions from time to time.
Those are brokerage boats...And yes the owners need to come to reality if they want them sold.
He won't let his inventory turn stagnant. Thats why you see ebay auctions from time to time.