Repos Are Stoping Look Around
 

THE BOOK GOES UP 30% IN 6 MONTHS ..MOST BOATS UNDER $50000.. ARE BRINGING BOOK AT THE AUCTION AND UP ALL WINTER LONG ... LOOK AROUND ?????? WTF ???? :bsflag:

Good!!!!!!!!!! Maybe people who already own decent boats will quit getting bent over on trades or resales.

Repos
 

JUST CALL THE BIG REPO PLACES.. ITS STOP ?????? (ALL THE SO CALLED REPOS IS FROM LAST YEAR):kiss:

Repos
 

ALL THE BIG DUMD ASS WITH ALL THE COOL **** ARE DUMPING THERE **** BECASE THEY WONT A NEW BOAT??????#6 BOATS :kiss:

Can you stop with all caps posting?

I've always considered myself reasonably intelligent but I must be handicapped at the moment because I can't figure out exactly what point Outlaw is trying to get across to us.
Are you saying that Repo's are priced to high because the blue book values are going up?

See ya,
Kelly

Me neither......perhaps drinking and posting?

I'm not sure exactly what he is saying but I'll give it a shot. Repos have been the thorn in this industries side for several years now. Influencing not only the value of used boats but impacting new boat sales/values.

I think the post is saying the repos are drying up and fewer and fewer are coming to market - which is a great thing for the boat industry. As for the book value going up 30% i'm not sure where someone would find such information but great news if it is (and not just speculation). Shows a sign of a strong comeback for the boat market.

Now lets see how close I was to getting it right....

in english please?

:bong:

I'm beginning to think the OP is a crack additic... :bong:


I wouldn't doubt repos are going down, the banks are reporting a decrease in the number of loan defaults across the board... not by a huge margin, but things are showing signs of improvement.

With that said, to suggest used boat sale values and prices are up (and selling for) 30% more than they were 6 months ago is absolutely horse-sh!t!

:bong:

Yes the boat market might be getting a little better, but with gas prices going threw the roof, lets see what happens. The high price of gas can not be good for the boat market.

Known as the next nail in the coffin.

Exactly. I paid $3.29 for diesel yesterday. Two weeks ago I paid $2.89 per gal for diesel at the same station. I still say the chit is going to hit the fan..

+1

The Kelly Blue Book value on some boats has gone up quite a bit in the last 6 months... I have'nt put a pencil to it, But i have noticed an increase.:drink:

I knew it wouldn't be long before the boat salesmen came marching in with info on how the market is taking off and the hurry and buy now retoric... :D

Re read my post... I said nothing about buying boats or selling boats.. I was simply stating a fact... Even know we did sell Three last week.... 2 cigs and a MTI..:drink:

Can't agree on that. I know someone who hasn't made a payment in 20 months or so and the bank hasn't even contacted them yet. The boat is sitting in a storage lot on blocks. Theories??? The loan value is less than 100K, so I think that the banks started with the bigger loans and haven't worked there way down that far yet. I could be wrong....it's happened once or twice. :D:drink:

I do agree that high gas prices will kill any economic "recovery" that may have started.....not just in the marine industry, but everywhere. :(

....and OUTLAW11 must still be slepping it off!! :drink:

And I will back him up as well....we are seeing higher resale $'s for used boats. The book values are going up as well. I am not saying we are on the road to recovery but things are getting a little better.
SS930, I do not know you but if you own a boat you should be happy that used values are on the rise.

:lolhit:
http://i54.tinypic.com/1znaiyd.jpg

Thats good, now mabe somone will make me an offer on my Sutphen.

Car values have never been higher when dealing with used. Its all about supply and demand.

go look at the nada in sep and in january book some **** out from last year .. one of my 28 2008 magic has gone up $25000:kiss:

They have gone up since I last checked in Fall, and now most are one model year older. Not much, 10% on mine, but better than the reverse trend. But new boats have gone up more in the last year than used, much more in many cases.

Better buy my Fountain now before I raise the price to stay with current pricing. That and it being 'Reggie' boat. :)

Ya think the reason that the bank repos are down cause there not lending any money? Try and get a loan on a boat now good luck.

Values might be going up on paper but that does not mean people will pay it!
I Don't believe there is any "magic" thats going to happen any time soon. "they" will always find a new way to make the economy work in the favor of whoever has the most money.
Its either the "fuel prices", oil spill, 9/11, stocks, bail outs, etc. It does not matter we are just along for the ride, and hopefully we will at least get to be in our powerboat!

We are just in a repo lull. It is just a matter of time before the recently purchased repos will once again be repos LOL.

Case in point:
http://www.yachtauctions.com/listing.php?vessel=6282

There is a reason for that....... CMS Magic Company got an investor and bought up all the previous owner repoed Scepters that have been sitting around for the last 3 years. I guess they figured out that while this inventory was still available to the public, they weren't going to make any new Scepter boat sales. Heck, pull the top deck off and replace with a deckboat lid and..... a new 2011 boat......

Now the question is..... Will Magic rebadge these and sell them as new 2011 product????? What would Reggie do?????

sure hope the values rebound.....

You nailed it. Just have as much fun as possible during the ride

boats will only get cheaper, people who have the desire and ability to own a performance boats are dwindling in numbers every day. sad but true.

Repos
 

GO LOOK UP ANY OF THE LAST THREE MONTHS SALES AT ANY REPO BOAT AUCTION.... LEFT TO MID BOOK ????????????? WTF.. SPORT BOATS :kiss:

Magic
 

THATS :bsflag: I BID ON ALL THE BOATSFROM MAGIC AND THE OLD OWNERS HAD THE RIGHTS TO SELL ALL THE OLD STOCK... TO ANYBODY .... WITCH WAS BULL **** ..THEY SOLD THE LAST 10 TO THE NEW MAGIC OWNERS $21000 A BOAT ........ I BOUGHT THE 44 FT CATS KNOW ALL ABOUT THE **** :party-smiley-004:

It seems like all the guys who are boat shopping keep saying that the boat market sucks, is in a free fall, etc, while the guys trying to sell a boat seem to think that the market is on a rebound.

My personal opinion there definitely seem to be less repos on the market, especially the high dollar custom boats. Many of the real nice newer OL, Cig and Nortech repos are gone. Now the repos seem to be older boats, off brand, stuff that needs work, etc. There is not a ton of boats for sale out there right now like there was two years ago. Anybody who doesn't have to give there boat away right now isn't gonna. As inventory constricts prices stabilize and eventually rise. The bottom line for me is this- if you want something nice you gotta pay.

It looks like the classifieds are much smaller than they used to be. I don't know if that's because people are just not listing their boats or they are really selling. I know some boats that I have watched have sold recently. I had several friends with ski boats that they had for sale for a while all of them sold last month for appropriate prices.
I know that new boats will have to go up in cost because production volume is way down. Economy of scale with the boat manufacturers is non existent........
Just maybe we have hit the bottom, I hope so for the dealers, manufacturers and me.

Way to go Carry! Retail activity in general just feels better

Mayby I am wrong, but I think

a) The repos are definately less. And the huge savings on "very expencive" boats is not that easy to find anymore.

b) There have been very little new boat production in 2010. That makes the one able to buy new boats just to buy the repos that were new anyway.

c) The cost of building boats have arisen and that it is not easy to get a new boat build for a "repo price" and they therefor have to cost alot more.

d) The richest who bought the most expencice boats AND had "fast money" were the ones to first struggle with their financing, giving the first repos like the MTI, Nor-Techs Fountains etc. These guys have reach the bottom for a long time ago. But the others with more modest economy might use more time to get in a difficult economic situation, and some of them must give up now. They have the older repos, with huge money spent on repairs etc. And are now finito.

I see the same boats for sale for a while now (06-08, 42 fountains) and they can't sell.I do not see things getting better , and if you have a trade your giving it away.
In my opinion Cash talkes right now, if you are in the market with no trade.