Is anything selling or am I wasting my time?
 

I have a '97 Gun in good shape that I just put in the OSO classified's for $90K. Am I wasting my time? Is anything selling these days? What price would it take to move this boat this summer? Any insight from those in the know would be appreciated?
Thanks- MJB

I have a 1994 Cigarette TOP GUN with 600hp 509s with less than 50 hours on them. The boat has always been in Freshwater. Boat is in very good shape. I have had it for sale for 2.5 years. I'm only asking $75,000. I'll sale if for $69,000. I have not had one person look at it. I have had 2 phone calls and 4 emails. That's it. From what I understand, someone will only be able to buy it if they have the cash. Bank loans on an older boat like mine and yours is almost impossible. My boat just went off the market about 2 weeks ago. Don't waste your money trying to sale it. The only way to get rid of it is to sale it CHEAP CHEAP or trade it in for another boat. As long a Oboma is in charge, you might as well keep it, as he ........... no point talking about the obvious.

If you just put it in, give it time.

sold a 99 gun for 100k..... 4 YEARS AGO...

u got a 70k boat... and that has NOTHING to do with Obama

He's right about the price (maybe not about Obama). I sold a 1997 in perfect condition with new power in the spring of 2007 on a trailer for 115k. My perfect condition 2001 tstg sold this spring for not much more than you are asking for a boat 4 years older.

The good news is all things staying equal it will still be a 65k boat in the spring. In answer to your question though, you're probably looking around $70K if you want it gone this summer and at that it still may be a tough sell. With housing off 30% and still not stable, 10% unemployement, very tight financing....it's an up hill market.

Even at 70 it might be a tough sell but at least you would have a chance.

I sold my '02 Top Gun. Took awhile, but it finally sold - and I was getting top dollar for it!

Couldn't agree more. I'm kinda in the same boat! No loans=no sales.

Lots of calls, not one person has come to see it. Few low ball offers that I actually may have entertained if they actually showed up with cash!

All good, guess I'll just have to keep owning my cigarette! Oh well :)

Von Bongo, you took less than $90k for that boat 2001? That rig was gorgeous, especially after you had everything redone.

No, I said not much more than he was asking. It was some more but not enought that I think someone would buy a strait hull boat for what they could (and did) have bought mine for.

Again, when it's time for my boats to go away, they go away.

So all these older cigs for sale would all have to be cash buyers? The banks are not loaning on older boats at all?

You have no idea how many times I wanted to call on your old boat, but I knew it was not the family friendly cockpit I needed at this stage. Still one of my all-time favorites!

"Again, when it's time for my boats to go away, they go away."

Haha, you sound just like my father when it comes to selling something and getting a new toy. It was a beauty. I got some great pictures stalking it at the docks last year at Captain Ron's for the Shootout, haha. Thanks for the info.

Thanks for the input guys. Looks like I need to re evaluate my asking price. :(

So whot if you own an older cig what do you do with it? If no one can get a loan for purchase and a lack of cash buyers as most want something newer I don't know love the old ones but sucks on the loan part.

As people have said, it's a cash market. Period. I'll be looking this winter. Price will be 100ish and it will be in a suitcase :)

Well I guess you win, us poor people still need a loan:lolhit:

Trust me it's been a rough 2 years. Theres mney to be made out there it's just MUCH harder than it was before

I don't believe people can't get financing on the old boats. I had a guy that sells all kinds of stuff on Ebay said he could get financing on my boat. He was offereing his services to market the boat. He said they are really a financing company and finance collectors cars, planes, boats, etc

Not 'reasonable" financing.

I don't know but I would think you could find some financing on the older ones still - if you put some skin in the game yourself, and possibly if you went local and they could put a name with a face.

I feel like trading on the latter helped me out when I bought mine. Several of the guys on here that finance weren't interested in helping me because of my age/lack of history, but I went to a local place and they were great about it.

Thanks for the reply, I am putting what I think is a large amount of money down (the most I have ever put down):lolhit: and I have great credit with great history. But I do not have all the money to pay cash and may never so a loan is what I do because I enjoy boating, but I refuse to marry a loan like so many others I see. I love the boats and admire the guy's that restore them, I want a boat that I will enjoy for a long time and is just sweet. I also am not out to impress anyone so I don't need to upgrade every decade to keep up with the Jones, they beat me already:drink: D

Ding...Ding..Ding...

Solid down payment, local financing, reasonable terms (reasonable is not 20 years on a 15 year old boat), excellent credit and the documentable ability to pay it back...

Seems like old times.

A friend of mine JUST bought a 1996 Top Gun, with nice 600's, Bravo's, a triple axle trailer, & in nice shape, for $65k. The bank he used preapproved him, and he was able to finance it with no problem.

Just fyi purposes :cool:

U got that rite!

Ya just have to work harder & smarter

Steve if GA is still around next month I maytake it off your hands and race it a few times this season

You could have been enjoying it already in Jersey!

Bobby is a good throttleman & has a lot of seat time in GA.

If you buy it & want to race with him I'll chip in some $ for the team.

I know a marina in Jersey that may be a sponsor also

thats true. That would be fun. I'll talk to you about it when your here

So now I'm wondering...are the T/S boats taking the same beating? I knew the flat bottoms are hard to sell. Takes just too much hp to make em go. Prob have my 00 T/S Gun up for sale end of season.
Was hoping to get just over 100k. Less than 200 hours with fresh power.

As far as the financing. Multiple guys in my area have had no problem getting financing on late 90's early 2000's boats with no money down. GE Credit has been awesome to deal with for us. Takes good credit though....

thats what I would be looking for

send me ur email and I can send you some pics

Yep, try credit unions.

I bought a 96 last year, got a fair rate, 0 down on NADA value + a little more for trailer. It took me a ton of looking and rejections, but I had documented income, and great credit. Actually, if I wasn't pushing the edge of debt/income and working in the auto industry it would have been much easier.

People who can't get financing are either credit risks, or not looking/working hard enough to find it.

done

We have as much fun boating in the Sutphen as we did in the Cigarette F-2 @ a FRACTION of the cost.

When I see the market on boats for the last 2 years I'm glad I dumped the Cigartte when I did.
My insurance on it doubled after the last hurricane to over $8,000. In today's market it's probably worth half of what I got for it, & I took a pretty good hit when I sold it back then.

The Sutphen is cheap to keep & keeps on tickin for cheap money. It's a lot of bang for the buck!

Less Buyers more Dreamers

Can't buy new if ya can't sell used.

Yep

Sure you can, thats why people accept trades.

One thing I've noticed is it seems there are a lot of people with big boats that are willing to take on more trades, especially if its a smaller boat with less maintenance.

I notice you have 6 boats in your avatar. So have you ever tried trading a boat for a new one. I have a good idea what I can buy a new boat for if its a cash deal. A trade ends up just playing with numbers and is no where close to a cash deal. Really just common sense.

Maybe if you have a loan and plan on borrowing money, then its "what's my monthly payment going to be". I pay cash.

4 boats, not 6. Yes I have traded a used boat for new one. Makes things very easy. Boat was a POS and they gave me more than a fair trade. The new boat price was not adjusted up. So are we done comparing johnsons? :lolhit::kiss:

Yes :kiss:
Have a good fourth!