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Used boat prices....how they holding up??

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Old 01-15-2008, 04:15 PM
  #31
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It's true that toys are usually the first to go in troubled times, however passion always runs high with these things, and people are always going to have a hard time parting with them. The fuel price issue is going to keep the boat market in turmoil- many people are selling because of this to pursue other interests. Several people I boated with have already sold their boats to buy motorcycles or vintage cars.
It is no doubt a buyers market. There is no reason to give book value for a performance boat in these times. We are currently rethinking our position about purchasing one at all for now; we have a small single-engine cruiser that's good on fuel, plus several other boats for skiing and fishing as well as a few jet skis laying around, and thankfully all are paid for. At this point, getting out on the water is still possible for us without laying out any money for anything BUT fuel.

If I were in the market right now, this is one I'd be hot on- it's going to go in the $25K+ range- someone's going to get a great 28 if they step up.
http://cgi.ebay.com/ebaymotors/ws/eB...MEWA:IT&ih=016
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Old 01-15-2008, 04:25 PM
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Originally Posted by jafo View Post
It's true that toys are usually the first to go in troubled times, however passion always runs high with these things, and people are always going to have a hard time parting with them. The fuel price issue is going to keep the boat market in turmoil- many people are selling because of this to pursue other interests. Several people I boated with have already sold their boats to buy motorcycles or vintage cars.
It is no doubt a buyers market. There is no reason to give book value for a performance boat in these times. We are currently rethinking our position about purchasing one at all for now; we have a small single-engine cruiser that's good on fuel, plus several other boats for skiing and fishing as well as a few jet skis laying around, and thankfully all are paid for. At this point, getting out on the water is still possible for us without laying out any money for anything BUT fuel.

If I were in the market right now, this is one I'd be hot on- it's going to go in the $25K+ range- someone's going to get a great 28 if they step up.
http://cgi.ebay.com/ebaymotors/ws/eB...MEWA:IT&ih=016
me likey that boat.
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Old 01-15-2008, 04:26 PM
  #33
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I am more into the older big offshore market. This is where its is usually interesting in regards to prices. There will be a early 80's scarab 38 listed for 70k, and then another listed next to it for 32k. Then you have things like power packages, overall condition(which varies greatly on a 25yr old rig), etc.

Its hard to talk pricing these days without insulting someone. I think there are many older boat owners out there that are getting up their in age, and have owned these old offshore boats for 15-20 years. Back when they bought the top of line 40ft rig 20 years ago, it was the cats pajamas. That was 20 years ago. Now they are hard to insure, hard to finance, and hard to own/maintain, repair, etc.

The best thing I like is the over inflated HP ratings and speed ratings. My buddy is looking at a old 42 wellcraft eagle. The ad says "fresh 454/540HP engines". My buddy who is somewhat new to the game, calls me and says, "I talked to the broker, he says it has new 540HP 454's!" He emails me the link to the ad, where I look at the pics. Yea, some real HI-PO motors in there with the old merc iron log manifolds, edelbrock carbs, and stock gm intakes.

Brokers and sellers love to up their HP rating as nada shows a huge increase in value sometimes going from 370HP to 500HP, almost 20g or more on some boats.

When I bought my old 40ft Excalibur, it was listed on a brokers site for 59k. I bought it direct from the owner for 25g. Put some money into it and fixed it up a little better, and then could not for the life of me get 20k for it. It was like pulling teeth. Imagine if I woulda paid 59g for it and tried to sell it two years later? Hmm, 50g in the hole equity wise and probably put 10g in the boat in repairs and maintence stuff. I know that is small potaters when we are talking 3-400k boats, but in my world thats a lot!
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Old 01-15-2008, 04:32 PM
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All the time but I use that "work" term very loosely.

Schew, me too. With three 1099's and one W-4 this year I eeked out just enough to surpass the wifes salary, difference is, she actually has a "real" job she has to show up at!
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Old 01-15-2008, 04:40 PM
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Originally Posted by MILD THUNDER View Post
Its hard to talk pricing these days without insulting someone. I think there are many older boat owners out there that are getting up their in age, and have owned these old offshore boats for 15-20 years.
An offer is just an offer. If someone dislikes it, so be it. If they've been sitting on an item for quite some time without any action, that offer may at least get their brain juices flowing and start some further discussion.

I remember something I was told when I was working for PMD and GMAC back in the late 1970's by a salty dog new car salesman-
"Don't ever worry about your offer being an insult- you're not planning on marrying his daughter, are you?"
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Old 01-15-2008, 04:43 PM
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Originally Posted by offshoredrillin View Post
I dont think your off, but remeber listing price and what is sells for are two different animals...if you have your ducks in line, figure out what you want to offer and go for it, worse they can say is no.
I couldn't have said it better myself. When you are selling, it is a lot easier to come down than go up, and you have to start somewhere. What something is advertised for and what it sells for generally are in 2 completely different spectrums.
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Old 01-15-2008, 05:17 PM
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Bongo, I think I mentioned this before in a PM to you but I always seem to have the best luck if I build a bit of a relationship with the seller before I ever talk price. It doesn't matter if it is a boat, a house or a car. Let them start to imagine what it would be like to have it sold before they have any idea where you are at on price. Let them like you as a person than they don't seem to have such a negative reaction to price (and if you are honest with them at that point they will be honest with you). I am a firm believer that most people that are able to take a hit, will if they know that their boat is going to a good home that is going to treat it well. The other thing is let them know that you are ready willing and able (able being the most important). There are a lot of tire kickers out there that have no intentions of ever seeing a sale through.

In the past I used to just shoot offers out there and I didn't get anywhere. Once you offend someone all bets are off period.

I seem to have the best luck via telephone or Email because in person people think I am just some young kid that isn't serious. First impressions are hard to avoid and I would rather let who I am as a person create the impression rather than the fact I look like a little surfer dude.

The best deals are those that each side feels good about. I always approach a deal with that goal in mind.


With all of that said, there are some sellers that you aren't ever going to reason with. And in my case, they will treat you like a dumb kid and not take you seriously. Then you just have to smile and walk on and know that the deal you are looking for will present itself when the time is right.
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Old 01-15-2008, 05:18 PM
  #38
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Originally Posted by Von Bongo View Post
I'll keep shopping. I think NADA just gets you in the ball park and I also compare it to BUC value which is what we used when we loaned on boats. Seemed to have the closest value. Also look to see what the average price is for listings.

Now I can understand asking $250K for a 20 year old apache, there aren't many around. May not get it but would be a lot more likely than a production boat that there are 20 other of the exact same model for sale competing.

I guess I just expected to see prices take about a 20%-25% drop from last years asking on used boats. I figure not including the first year that a boat loses about 8-10% a year from the prior years "values" until the boat gets about 10 years old then levels off. Given the economic state of the union I was figuring another 10% to get something moved or about 20% less than last years asking price. So a boat priced at $150K, that didn't sell at that price last year would need to be around $120K this year to realistically move it.

Again this is on a common boat that at any one time there are 10-20 of the same model for sale for a more limited model I can understand not quite the hit.

Am I way off base on this?????
I think your dead on !

I also no first hand after the one year it took me to sell a rig that I had over 200k in that any real buyers in the pre owned market are paying 20%+ less than 99.9% of the asking price of the boats that I see listed.
If I hadn't held my own Title I would have had to come out of pocket 50k plus.
I have also been looking for a pre owned 40' to 44' Cat Hull with 6 drives to replace my 2003 low hr 37' Talon. The owners want top dollar for theirs and my rig is worth nothing.
Strange market I,m with you they are up side down!
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Old 01-16-2008, 03:39 PM
  #39
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The only salvation for used boat prices (if you're a seller) is that the new prices continue to escalate faster than inflation. I don't think the problem is the asking price for used boats but rather the lack of buyers (if that makes any sense).

Thus the rule of supply vs. demand; right now it's a buyers market and that is why if you want to sell you stand a good chance of being upside down. However everything is cyclical and the low number of new boats being sold today will eventually lead to a shortage of late model used boats down the road...thus a better used boat market.
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Old 01-16-2008, 03:52 PM
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Originally Posted by Donzi 26zx View Post
I wish I could get a good deal on a Apache 28 or a Pantera 28, thier are some good Pantea's out thier bit I think prices are a little high, compared to the market
I've seen a few good deals on some 28 Panteras in the last few months
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