Re: Why the powerboat industry is sinking.
 

I just took this photo 2 days ago....... :( :( :(

Re: Why the powerboat industry is sinking.
 

Where was that photo taken?

Re: Why the powerboat industry is sinking.
 

Massachusetts

Re: Why the powerboat industry is sinking.
 

theres alot of sellers out there that are either not in touch with the current market or owe more then its worth today. so what choices do they have? hold out for that one guy that just has to have that particular boat which may never happen or dump it for what they can get? ive seen the same boats for sale for well over 3 years. you would think they would eventualy figure out its overpriced :rolleyes:

i also sympathize with the sellers. i put a 2000 30 spectre on the market 1-1-06 for a what i considered a steal at 59k and it still took over 3 months to sell. finally got 56k for it after dealing with no less then 40 prop kickers and extreme low ballers. i would hate to be in a position where i "had to sell" right now because buyers are few and far between. :(

Re: Why the powerboat industry is sinking.
 

it will get worse before it gets better..... guys do not realize values are falling, for years the secondary market has been strong as the economy has grown (i know the "sky is falling" guys say it is bad, but we have had 16 months of positive GDP growth, low inflation, low unemployment, all that stuff). The positive economy has put excess money in peoples pockets and make performance boats accessable to more and more people. Now it is going back to average, where boats depreceate faster tha nthey have been. Guys with boats for sale do not realize the need to sell quickly, instead holding out for top dollar. A year ago that was a good plan, but now, it is not. As said before, many bought boats with financing and now have big notes based on inflated surveys and can not get out of them. It is almost like the housing market....

Re: Why the powerboat industry is sinking.
 

88 and sunny saturday, 79 and sunny sunday.. i usualy dont feel that great by sunday anyway. Is that your cig in your avitar. I think ive seen it in Glendale.
:drink:

Re: Why the powerboat industry is sinking.
 

Yep.

Re: Why the powerboat industry is sinking.
 

What town? I do not know anyone in Ma. asking those prices.

Re: Why the powerboat industry is sinking.
 

Ok,
So it was in Martha's Vineyard..... :drink:
Still high for the States though... ;)

Re: Why the powerboat industry is sinking.
 

That explains it. Thanks.

Re: Why the powerboat industry is sinking.
 

it didnt sell without me taking a hit but the fun factor was well worth it :cool:

i guess thats what it all boils down to. the cost of that commodity called fun and the freedom of being on the water. a lot of people including myself will just have to scale it back a bit.

Re: Why the powerboat industry is sinking.
 

I was wondering about that gestation period myself.

Re: Why the powerboat industry is sinking.
 

I was boating on the St. Lawrence over the July 15th weekend and Friday night at 5:00 pm I pulled into a Marina in A-Bay to fuel up. The attendant told me I was the 8th customer all day and that included 2 walk ups with gas cans. The number of boats in A-Bay is down significantly. Gas prices then weren't bad $2.39/gal. Ken

Re: Why the powerboat industry is sinking.
 

Pleasure-boat sales have been "off" before, and they will be again. Every time the economy re-organizes, or re-distributes due to interest rates, fuel prices, real estate market etc., someone(unfortunately) is gonna' fall out of the "I can afford to go boating" mix. I remember back in the '70's(yeah, I said it), manufacturers actually built sailboats out of ferro-cement, because it was so inexpensive in comparison to resin. AND PEOPLE BOUGHT THEM!!! I've been through two periods when boat loan rates were this high or higher. It's not all doom & gloom; boat manafacturers and dealerships that aren't financially healthy will go by the wayside, and folks that could just barely afford to go boating last year at the entry-level will not do so this year. But they'll all be back in one form or another.
Hugh

Re: Why the powerboat industry is sinking.
 

Perhaps, diesel engines will offer some degree of encouragement. A new fuel system will debut in 2007,allowing lighter engines,better fuel economy,longer life expectancy and reasonable power. Predictably,a diesel package may be an economical choice for repower.

Historically,diesel fuel has been less expensive than 87 octane,though it is not presently.

Noise laws,effecting diesels,would be much easier to comply with.

Ethanol and it's effects are eliminated.

The finance lender and insurance company should be more comfortable, because,the engine life expectancy is much greater. In fact, an extended warranty structured into a given package would provide further assurance for everyone.

In summary,I predict,the next generation of diesel power will be a strong,viable option. The amortized, hourly cost of operation will go down dramatically. Especially,when compared to high horsepower, big block gas engines.

Re: Why the powerboat industry is sinking.
 

Not sure how things are in other parts of the country but I wouldn't go so far as to say the whole industry is in peril. Nor would I say real estate and gas prices have the economy doomed. In our area there are more boats on the water than ever before. Boat dealers are moving inventory well and there are lines at the marinas of boats waiting to take on fuel. Real estate has softened a bit but houses, condos, townhomes are still selling very well and folks are building like crazy.

As with any commodity or industry there are market corrections from time to time. Sounds like there are going to be some great deals for some folks in the near future. Or now even.

Re: Why the powerboat industry is sinking.
 

I have to agree that everything runs in cycles. Althou sometimes more extreem than others. My wife and I still spend as much time boating as any year before but less time on the sticks. I still cuss those PWC"s but have to admit I bought one recently. We usually take them both out and use the boat for a dock to switch out riders.

As far as for those selling performance boats I feel for them. I think they know all to well what they will have to do to make the sell. It's very hard to bite that big of a bullet especially when the owner is way upside down which is the case many times.

I tend to be more of an optimist and beleive better times will return. Not allot I can do anyway. I just choose not to live gloom and doom.

I work in the automotive industry. Actually a dealership mechanic. Our work has changed dramaticaly. We still make repairs but have had to become much more focused on maintenance to stay busy. Most industries will adapt. We have to.

Sorry for straying from the original thread.

Happy and safe boating to those still finding a way to enjoy it.

Jerry.

Re: Why the powerboat industry is sinking.
 

With all the doom and gloom in this thread I should be able to keep my current ride, and pick up a Top Gun for pennies on the dollar in a year or two. Jeeeez. Parts of the country (ie Michigan) are in bad shape, but GM, Ford and the UAW made their own beds. Meanwhile other parts of the country are booming.

The boating industry has never been a fabulous business unless you can carve out a niche, and provide excellent customer service. Hell the owner of Cobalt boats just built a multi million dollar lake home right up the cove from me so he must be doing something right. Gas prices go up and down. Eventually they will go back down. Economics demand it. In the mean time I'll keep the throttles pinned when I'm running..... ;) :)

Re: Why the powerboat industry is sinking.
 

Or it was a horrible, short sided mistake.
Or his grandfather left him money.
Or he has other means of income.
Or he won the lotto.
Or he has 5 years to live and doesn't mind the debt.

WE DON'T KNOW.

But one can't assume because someone is spending money that they are wealthy and/or have a lock on future earnings.

"A therefore B" is not a logical equation in this case.

In fact, it is usually the folks who do these builds, often on a speculative basis, that end up over their head in a year.

Re: Why the powerboat industry is sinking.
 

I wouldn't expect them to go down too far. Our gas prices have been out of line with the rest of the world for a while. When I sold my Pantera to a guy in England two years ago, he said that he was paying the equivalent of $7/gal.

Re: Why the powerboat industry is sinking.
 

Ive seen a few Rags to Riches and back to Rags stories in my lifetime
"A fool and his money soon part"

Re: Why the powerboat industry is sinking.
 

Just received anohter email reply about an insurance quote that they can not write insurance in Florida anymore.

There are going to be some sweet go-fast boats for sale very very soon...with some low prices.

Re: Why the powerboat industry is sinking.
 

Quite the cynical bunch aren't we?

Something tells me that I could give you 100 feel good stories and it wouldn't change your mind. I'll just say this. As long as there are lakes in the midwest there will be powerboaters...... cause that's how we roll. :D

Re: Why the powerboat industry is sinking.
 

Yes. WAY too much inventory out there and you can't insure them.

But there is hope... someone will buy them.
And they will make great decorations chopped up and mounted in sports bars.

I am looking forward to having a drink at a bar made from a 42 outerlimits down at the local Bennigan's.

Another great idea would be to gut them all of power and mechanicals and place them on a rack launch. Run some steps up to each one and call it a "Rack and Lunch."

Or a "Berth and Breakfast."

See.... there will be uses for these boats.

Re: Why the powerboat industry is sinking.
 

Dont be a hater just cuz you dont have a boat anymore :D :evilb: :D :evilb:

Re: Why the powerboat industry is sinking.
 

I'd hate to see what some of the posters on this thread would do if we ever have to live through another depression if you think the current state of our economy is bad. Imagine if you couldn't even afford to eat. Most of us have it so good in this country, we don't even know what average is, let alone bad.

Re: Why the powerboat industry is sinking.
 

Don't think that I am happy that it is what it is.
It's actually a huge bummer because my original plan for retirement was to cruise. Summers in the great lakes, winters down the ICW to SC and GA/FL.

Will never stop loving powerboats. But...
I am just seeing the situation for what it is.

Part of the reason I sold my boat is because I still COULD.

I would advise anyone who is considering getting out to do so before all of the people with their head in the sand trying to convince themselves that everything is peachy start figuring out later this year that they might be stuck with their boats forever.

The gao released some new info about the economy today which confirms that the economy is not so rosey and inflation is taking off. I don't feel like cutting and pasting.

Unfortunately energy costs are just part of the bleak picture.

The boat business is going under because the supply exceeds the demand, prices have become prohibitive, service is non existant and once you buy one you can't insure it.

Last year at this time boattrader had 90,000 boats for sale.

This year they have like 115,000 for sale.

When the number rises to 230,000 boats for sale maybe I will buy a Top Gun for a garden planter.

Re: Why the powerboat industry is sinking.
 

You must travel in a very well-off group.
"most of us" in this country have slipped from middle class to lower middle class in the last decade.

It sounds like some of the posters on this thread are not waiting for the impending depression to be declared to start protecting themselves and their families.

I know all kinds of people who can't afford to eat.
We have a full emergency room with them using it as their doctor's office because they are uninsured. I brought in a big bag of clothes for some of them yesterday who have no clothes. My closets needing cleaning anyway.

Maybe it would be good for some of our members to be exposed to all sides of life once in awhile.

I will admit that it is good for the industry that many people are not willing to see the writing on the wall. That will delay the inevitable mass sell-off. This is a good thing. It will create a small window of opportunity for realists to stop the insanity and dump their liabilities.

Re: Why the powerboat industry is sinking.
 

Thanks for being real ....
After reading this thread, you would begin to believe that real power boating must be done at 100mph, in at least a $100M vessel.

It's just heartbreaking to see those fools in their little Bayliners having such a wonderful time boating with their families every weekend while we "power" boaters are under such duress.

Re: Why the powerboat industry is sinking.
 

Cat? Cat? Is that you?

Re: Why the powerboat industry is sinking.
 

You can actually own a go fast and not have the throttle pinned all the time..it aint easy, but weve managed to cut our fuel bill way down.. Pack more samiches, cold ones , change of clothes etc.. We take a nice run to our favorite spot then sit all day, swim , snorkle, abuse the liver etc.. Then take a nice cruise home. The boat stays in so no gas for the truck. Only accesory i put on her this year was one new starter. Id say my total boating expense for the year so far is around $2500 .. So far I can deal.
The sky realy isnt falling and if it does who cares about money, its only paper :drink:

Re: Why the powerboat industry is sinking.
 

Amen.

The media can whip up the sheeps in a frenzy...

Re: Why the powerboat industry is sinking.
 

I use about 2000 gallons a year for the boat so gas at $6 a gallon would be $6,000 more a year from $3 a gallon...

Adding insurance, docking, mechanical fixes, mechanical maintenance, Trick Marine, trailer maintenance, dually expense, food, liquid refreshments, mufflers and whatever else is involved in boating $6k is not a deal-breaker...

If you've experienced it you know it's worth every penny...
http://media.putfile.com/Cigarette-12
...if not wait till you do, it brings out the entrepreneurship in you!http://www.almotmaiz.net/vb/images/i...0_2%5b1%5d.gif

Re: Why the powerboat industry is sinking.
 

Perf boaters shouldn't complain about gas prices anyway, considering their mass consumption of gas for recreational purposes increases the demand, the price, and our dependence on foreign oil.

Would be hypocritical.

Re: Why the powerboat industry is sinking.
 

You should see the Exxon earns $10.36 billion from Apr-Jun thread!

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I heard this morning on the radio that the Oil companies reported $10 billion in 3rd qtr profits...boat manufacturers might want to add these guys to their mailing list :eek: These guys can buy'em and fuel'em :D

What will they do when Duffy makes a 100mph boat :D

Jimbo :cool:

Re: Why the powerboat industry is sinking.
 

Heck, I live in Michigan. You would think I'd be beating my drum and marching right next to you. Things are not as good as they were 7-10 years ago. Does that mean these times are bad or does it just mean that those times were exceptional? I'm only 35 years old. My life as a working adult consists of the last 14 years. The first half was easy, the last half has taken more brains, more work and sacrifice. I am not fearful of a depression nor do I feel we will every see a period quite like the 90s. I have learned to deal with it. This country wasn't built on a foundation of fear. What the media would like us to believe is not necessarily what is actually going on.

Re: Why the powerboat industry is sinking.
 

I'm 40. Perhaps that 5 extra years of perspective is the difference. It makes me a late baby boomer and you a gen x'r.

I'm not beating a drum or marching.

I'm just not someone who can rationalize 12 grand a year on boat gas alone and be glad about it.

I'm not fearful of a depression either. I learned from my parents (who DID live through a depression... I'm the youngest) that tough times bring out the best in tough people.

My theory that the power boat industry is in it's waning days is not based on fear. It's based on observations.

Again... it's great that some of you have the kind of disposable income that allows you to shrug off the crazy price of gas and the rapid depreciation of your asset.
Congrats.

Re: Why the powerboat industry is sinking.
 

You save money or reduce your loss on the purchase side of a depreciating asset, not the sale side. I would be the second one out behind you if I had to spend 12k on fuel in a year, believe me.

Re: Why the powerboat industry is sinking.
 

I agree totally with what you posted. Although I do think the $12K for fuel is a little high, but nevertheless, it's still alot of money for fuel even if it's $6K.