What's happening with used performance boats?
 

When I first began hanging out here 3 or 4 years ago (trying to educate myself as best I could about performance boats) there was, on any given month, 1100+ boats for sale in the classifieds of this website. And this has been pretty consistent although there were times that it might have dropped to 900 or so. But in the past 8 months there's been this steady decline to today's number of around 680.

Are folks advertising some place else? Are owners just hanging on to their boats? I'm sure it's a given that this economy is affecting this one way or another.

I notice that last night. The economy supposedly stinks but a lot of boats are gone. Weather or not they sold or people removed them is the question... Personally, I think they sold.

Way fewer boats are changing hands, since new boat sales are minimal at best. Most people are stretching the life of their existing boats, others have had to postpone their plans to move up, and those that needed to bail out of a boat they could not afford have done so.

I, however, am willing to consider any extravagant offers on either of my boats.... ;)

my thought was alot of the cases,,,,,,,if the value is below the loan amount,,,, why list it

either stuck with it for now, or it gets repoed

Times have changed, i would like to sell my Formula 400SS. I had it listed for about 6 months last year
Even though i had a couple people that were interested they could not get financing. So i just gave up and decided to keep it. Sure if i drop the price enough it will sell but in this market who knows what price you have to go down to in order to sell.

The hoops that i had to go thru to purchase my Cigarette last month was amazing. I have bought houses in the past that were less hassle than this loan was.
But on the good side i got the Cig for a great price so i'm happy and nothing wrong with having a Cruiser and a performance boat

Fewer boats are changing hands and I beleive its three basic things.

1. People want to much for their boats and just dont sell so they keep them.

2. People arent looking to buy new boats because of the economy thus you dont see more for sale.

3. People would like to sell their boat but know they cant because they owe to much and would lose their ace in a sale, or simply would lose their ace because boats are not commanding the money they used to.

boats like these are probably some of the highest risk due to the fact that they cost a lot of money and if the bank gets them back they arent going to have an easy time getting rid of them. Also these boats all to often are beat and you find listed on repo auctions with missing engines, drives, interior parts etc.

While most of the theories are possible. Does OSO have data from when the posts come down? I thought they were "post till sale" ads. Over the last 3-4 months I think the used boat and repo boat market is going crazy. There are a lot of great deals out there and I think a lot are selling.

Some folks don't sell them in a crappy market, but redo their boats completely so it is BETTER than a factory new boat. :drink::drink::drink::drink:

:drink:

I did that to BOTH of my boats even before the market went crappy. Go figure. :confused:

The new boat market stinks. It's going to remain this way until the prices level out.

It's pretty darn tough to pull the trigger on a new boat when you can get a used one, in near perfect condition, for literally half price. It's always been drive it off the lot, lost a bunch of $$$ deal with new boats but right now it's beyond excessive.

With that said, 2 things are happening.... current owners aren't upgrading and potential buyers aren't buying new anyway.

In the end this will level the price out. As the supply decreases, prices will go up to a more reasonable level, and then new boats will become attractive again

That actually makes sense. Good call.

Maybe YOU started this whole situation then!!! :D :drink:

x2 :drink:

I will give you a full case of Guinness and two bags of jalepeno Doritos for the Big Boat, and half a case of warm Bud Light Limes and most of a WalMart chicken for the small one!:coolcowboy:

Let me know when i can pick them up!!:party-smiley-004: