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Why the powerboat industry is sinking.

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Old 07-27-2006, 07:42 PM
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Default Re: Why the powerboat industry is sinking.

I just took this photo 2 days ago.......
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Old 07-27-2006, 07:43 PM
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Default Re: Why the powerboat industry is sinking.

Where was that photo taken?
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Old 07-27-2006, 08:09 PM
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Default Re: Why the powerboat industry is sinking.

Quote:
Originally Posted by pm203
Where was that photo taken?
Massachusetts
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Old 07-27-2006, 08:33 PM
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Default 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

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.
 
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Old 07-27-2006, 08:47 PM
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Default Re: Why the powerboat industry is sinking.

Quote:
Originally Posted by Steve_H
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

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.
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....

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Old 07-27-2006, 09:30 PM
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Default Re: Why the powerboat industry is sinking.

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Let,s hope it stays that way.


Now on to more important matters. Did you see the forecast for the weekend at the lake ? SUNNY !!!!
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.
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Old 07-27-2006, 09:38 PM
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Default Re: Why the powerboat industry is sinking.

Yep.
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Old 07-27-2006, 09:40 PM
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Default Re: Why the powerboat industry is sinking.

Quote:
Originally Posted by sharkeymarine
Massachusetts
What town? I do not know anyone in Ma. asking those prices.
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Old 07-27-2006, 09:49 PM
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Default Re: Why the powerboat industry is sinking.

Ok,
So it was in Martha's Vineyard.....
Still high for the States though...
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Old 07-27-2006, 09:53 PM
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Default Re: Why the powerboat industry is sinking.

That explains it. Thanks.
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