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

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Old 01-14-2008, 05:47 PM
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Default Used boat prices....how they holding up??

Started to look for a boat and have been pretty shocked at the asking prices. The lowest priced one was above NADA Retail and slightly below BUC high retail and it had 385 hours on it.

The rest were $10 to $25K above high retail.

Is the market bouncing back? are these people dreaming or are they so upside down there is no way they can sell it? BTW these are all on Boating or boattrader. Not slamming anyone here.

I personally don't think the used boat market is going to bounce back in the next few years, especially in the $50K range, so I guess they hold onto it for a couple more years and sell it for even less but get some more use out of it?

I don't know what to think. I'm not looking to steal it but to be asking above high retail, when in todays market I'd think you'd be looking closer to low retail or a little above for a clean boat has me a bit dismayed.
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Old 01-14-2008, 06:18 PM
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Many boaters don't visit communities like this. They're blissfully unaware of anthing that's going on beyond the price of fuel at the dock and what their dockage costs. They'll sit on these boats in wonderment of why no one is calling. By the time they figure it out, that scant few real buyers out there will have already picked up their new ride for the season.
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Old 01-14-2008, 06:35 PM
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Nada is just a guide I rarely use it when im apraising used boats. The Market is generally what people are asking for that make size and model.
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Old 01-14-2008, 06:54 PM
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I listed mine recently.....After checking boxes on NADA for the options I have ( but with stock power) I'd be happy to sell mine for TRADE-IN....that doesn't take into account the nearly fresh (35 hrs) 630hp, 700TQ motors and a new trailer (which isn't even accounted for at all on NADA). This boat is clean and my gelcoat guy has been under the boat this week touching up a couple dings that occured over the summer.

BTW: I listed mine BELOW NADA. NADA Retail: 160K, Trade: 144K, actually listed: 140K

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Old 01-14-2008, 06:56 PM
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I think they're dreaming and they owe too much on them. All you have to do is look at what stuff has been really selling for.
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Old 01-14-2008, 07:40 PM
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I am kind of looking and I notice a regional element. The same boat that is 35k in Detroit is 50k in North Carolina.

In general... I am amazed at what you can get for the money right now. Makes me glad that I sold in 2006 instead of holding off. I feel for people who are upside down, but man... what a buyers market right now. Kid in candy store. Wish I had more to spend.
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Old 01-14-2008, 07:56 PM
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I just bought mine and it was a sweet deal......I thought many were dreaming too, but MAKE AN OFFER you might be suprised. Just make sure your financing is in place it helps motivate the seller. The banks are making it a little tougher now with the sub-prime mess. Kyle at NEWCOAST did a terrific job at finding lenders that are still willing to go the extra mile for boaters.
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Old 01-14-2008, 08:03 PM
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Quote:
Originally Posted by Chris Sunkin View Post
Many boaters don't visit communities like this. They're blissfully unaware of anthing that's going on beyond the price of fuel at the dock and what their dockage costs. They'll sit on these boats in wonderment of why no one is calling. By the time they figure it out, that scant few real buyers out there will have already picked up their new ride for the season.
And there I will be with my 5 grand and my wide load permit.
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Old 01-14-2008, 08:06 PM
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Yes I belive the people out there are upside down on there boats, or dont know the real Value, I cant get a deal from anyone, and I am trying, and yes Frank, you got a great deal from me I should have just kept the boat.
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Old 01-14-2008, 08:22 PM
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I laughed at 1 guy who was askin more for his used boat then a new 1
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