292 Fastech resale?
 

Been watching the 292 market for a while now and it looks like they're are selling sloooooow. There are multiple boats out there listed in the 60's and they don't seem to be flying off the market at that price. Bob T's looked really clean from the pictures and it took months to sell at what I thought was a pretty good price. Whats the deal? Is it just a reflection of the market or are people not excited about twin small block boats?

Could be a combination of both:( . I have a 272 SR1 which is just about the same size as a 292 Fastech and I love my big blocks:D

I had an 02 292 and when I traded it to Magicfloat almost 2 years ago and he had it listed for a real fair price on it and it sat for a while before he sold it, and it was an exceptionally clean boat. The boat gave me absolutely no issues the whole time I owned it. Sometimes I wis I still owned it. its a shame that resale is so slow on them,,,its a great mid sized boat, and mine would run an honest 70 on a good day with small blocks,,which is funny considering the 89 272 I had with 420's and headers would only run 70. I guess it just goes to show how much technoligy changes things.
Anyway, to your question, I would say its a combination of both. Just a personal opinion.

Thats what has suprised me, they seem like a great boats. Haven't ridden in one yet but everyone reports 70 mph and a great ride in the rough for a 30' boat. After crawling around in one the only complaint I had was a lack of storage space. A 292 was at the top of my list but now I'm worried that when I go to sell in 2 - 3 years I'll have to give it away.

292 fastech resale
 

Having gone from a small block 272 to a 292 w/6.2's, my opinion is the 292 is significantly faster and better ride and handling. It is truely a performance boat that is challenging to get on plane and remain on plane. After the test ride, I still was not sure I wanted to buy the boat since it is so different from a 272. I really did not have any choice if I wanted to remain a Formula owner.A big block 271 does not have the ride or cabin room and used 312's have big blocks.The biggest issue with the 292 is its inability to cruise under 35 mph and maintaining plane. You have to be in a boating area where you can go in the 40mph and above for most of the time. I am on a lake where the speed varies frequently. I am constantly going from being on plane to going "no wake",what a challenge.To the casual boater,this is not the boat for you.IMHO,this is why 292 boats are sold after a couple of seasons and why they remain a hard sell.

Stays on plane just fine down to 19-20mph, as long as I use some tab and keep the r's around 3200. I do have full size K-Planes, they help. When the kids are driving I keep them 30 mph plus. Definately not a casual boaters boat but I love mine, good size for the family, economic small blocks, nice ride, she'll run hard and is trailerable. I guess when the time come's I'll look to trade instead of taking a bath.

we run on the St. Johns river in Fl. and cruising at 30 to 35 just required a notch of tabs to keep the nose down. But the boat loved 45 to 50 mph cruise.
Like I said, there are some days I regret getting rid of it, and come time to get rid of my 27pc I may very well go back to a 292.

Luckily we don't have speed limits around here yet so unless you get behind a slow boat in a narrow part of the river there isn't much reason to run under 40.

Done a couple of poker runs in a 292. Personally,I like the boat,fun to drive,easy to dock. The slow to plane is an issue, I keep saying that the right props will solve this,just cannot find the time to test,but I bet Maximas will fix the glitch

Bikini Bottom do you run with the drives trimmed fully in when planing at such slow speeds as 19-20 MPH (and tabs down) ?

Would love to see what 5 blades would do for the boat. Keep us updated if you ever get a chance to run them.

You think your gonna lose a lil selling her privately ? Wait til you see the numbers on trade value. Dont go by the inflated numbers...leave your trade out of the equation, get the best possible price on whatever your looking at THEN tell them bout your trade...but hang on to your shorts.
BEEN THERE DONE THAT. HAVE PRIVATELY SOLD EVERYBOAT I'VE OWNED.

if you buy your boats right pricewise, selling them isnt as painful

Part of it is that a new one has a cheaper payment with Formulas low interest rate.It is a nice boat though.I think K planes would help bring it on plane quicker

Sometimes I think I'm the only one that understands that. :D

Problem is that alot(most) people can't afford to be two boat owners while their trying to pedal their old one's and then you have the sales tax on on say 90 grand versus sales tax on the trade difference, plus the general pita of putting up with all the idiots in the world until you find a serious buyer. To some people when you add all of that together, trading doesn't seem so bad.
Just a personal opinion/observation.

I'll second what Slick02 just said. My first "serious" buyer showed up on a Sunday, 2nd week of Feb. Looked over the boat and asked if we could put it in the water. I told him I would, only if he was serious about buying it, which he said he was. 35 degrees outside, we put it in the lake. Eyes watering, nose running, we went right at 72.8 mph on GPS down the lake. Boat ran the fastest I had ever seen and really didn't try that hard to get "optimum" speed as my face and hands were getting numb. We get back and he says he's buying it and will pick it up on Wednesday of that week. I drained the engines and had the engines re-winterized. Calls me monday and says he got a bank check and asks me to get the titles (boat and trailer) all ready for him to just come get the boat, hand me the check and leave. Also wanted Coast Guard sales receipt, since he wanted to document the boat. Tuesday he says he will be here wednesday afternoon. Wednesday afternoon, no one shows up. I call him and he says he changed his mind, but would send a check to cover having the boat re-winterized. Not sure where he sent the check, because I never got it. Check must still be in the mail! :rolleyes: Other person who wanted the boat flew up from FL later the next week, left deposit, and then came to get it last friday. My "selling" experience with this boat rather soured me on Formulas' (nothing against the boat, it was a very nice boat). I didn't overpay for the boat when I bought it (to berns29scarab's point) but I sure didn't get back out of it what I thought I would, given all of the talk about how well they hold their resale value. I didn't completely lose my a$$, but one cheek is gone! :( For those who are trying to get $$$ + out of theirs, I wish them well!

Hey jmeng, got your e-mail and I spoke with the owner he said he seen 70+ on the speedo. Will send photos tomorrow after sales meeting!

Thanks.

Bob,

You would have had a lot less headaches if we would have made it up there before it sold. :D

Phazar, yup all the way in or you'll be off plane in a heartbeat.
No not looking to sell for awhile, gotta buy a new house first...ouch! Let's see house or 382? :rolleyes:

So when will I be able to buy a 2002 292 for $50K?

If gas keeps going up you might get one sooner than you think. It's not just the Formula market but the whole boat market that's down.

There's one in New Jersey advertised for upper 50's right now. I thought hard about calling up with a low ball offer and seeing if they'd take 50K.

We took a bath on our Baja 277. Lost about 24K but I must say as much as it was in the shop and having to take it to other shops and pay out of pocket to fix warranty items it was worth it. People who didn't even know me started asking "why do you pull your boat out of the water every week?" We have a slip at the lake.


Boats are like cars I guess. Bad investments but if they can put a smile on your face and give you some good times to remember that is what is most important.

That boat was sea trialed yesterday morning and sold that day.

Any idea what it finally sold for?

The boat was solid and he stepped to the plate and got a great deal. Boat ran 71 + on gps stock props. I miss my 292:drink: If your out there on the site good luck with your boat!