what's going on
 

What's going on with boat prices? How can everyone be asking way more than what the book prices are? I have been looking at boats for over a year now, 31-35ft and 99% are them are way over what book is. None of us pay way over book for the cars we drive everyday! I have been looking at scarab's,outlaws,fountains,nordics etc. Dealers/private it doesn't matter,banks are barley giving money out as it is then ask 20k more than book! I don't get it!

I think the selection of clean, used power boats has really dried up since 2008-2009

Agreed. Pier 57 sent me the flyer wanting clean used mercury powered boats a few times this year. Seems like most of the stuff out there is junk and the good ones are bringing decent money. Supply and demand. I think it also has to do with the price of new boats also driving the used prices up. When a new boat that used to cost 200k new now costs 400k, the used boat priced high at 175k now looks like a deal.

Rbesola hit it on the head. Supply and demand dictate price and most people are keeping their "old" boats and updating or repowering vs buying new because of the steep price increases.

AMEN to all of you

I looked for a number of years for a Cobalt- the availability of a clean and gently used boat was VERY rare. All of the boats that I found were a mess. Owners never did any required maintenance, they were not kept clean, scratches in the gelcoat, outdrive and props that have hit everything under the sun. It drove me nuts to see people buy a new boat and then just trash it. The cost of a used boat is going thru the roof- Because there are a few that keep a boat clean, well maintained and used not abused.

3pointstar

I would say that there is a wide range of prices out there and those that are priced decent sell. My 2007 35 Fountain is priced at low NADA on a trailer and is in better condition than 99% of them out there and many people call and say it is overpriced. Considering what others I have seen, it is priced right. If mine doesn't sell, the others out there should not sell either, unless one is not looking for a clean boat.

Three years ago, I looked for 15 months at over 30 boats, and I would say 27 of them I would have rated less than a 5 on a 1-10 scale.

I agree with these sentiments.

Book value for a boat. Ha!

BV for a boat is almost non existent - especially with Performance boats. Way too many variables in particular as a boat ages & there is a diminishing supply. Yeah - a banker has to have something to use as a base or regulators would be all over them. Typically a consumer lender (bank or CU) has zero clue about the boat market or the collateral they are taking if outside of their normal course of business (autos, ATV, Ag Equipment, etc). If a buyer finds a clean boat, well maintained, etc. and seller won't sell at any less than $20K-$30K more than say NADA then the buyer would need to buck up w/the extra $$ down to fall within bank policy if they felt the well conditioned boat was worth it. I'd think it would be something to consider as quality/clean used boats are becoming rare. Buyers/sellers determine the MV. Hard to pin point a BV on Performance Boats. BV just satisfies lenders so they have a documented way to measure LTV with bank policy.

if you look there are some deals out there. just got to find the one for you, some peoples clean is def dif from others,

Agree totally with this and that BV is not market, however there are not many people able to purchase a boat without financing. Those that can, usually are purchasing high dollar boats and not a 31-35 foot boat like this thread referenced. Also, just ask anyone trying to get a loan on a 10+ year old boat. I would think boat repo's would be a tough business to be in.

Book values for most boats and especially custom builder boats, are pretty worthless. They are merely a guide for banks to use.
They do not use actual sales data to determine values.

I have a like brand new cobalt 343 with twin 525's in it. Nicest one you will find! Let me know if your still looking!

Tom

This, especially when Blue Book doesn't even accomodate options past a certain level (like my engine size isn't in Blue Book for example). I still have people that try to low ball you and I'm below Blue Book already in my asking price.

i agree with everyones statements its frustrating. I like most people ( i sssume) cant afford to go out and pay cash for the boat i want! I need to fiannce it. I know there are some out there that will say then " you cant afford it". Every sport cant be a rich mans sport. I have been involved in all sorts of motorsports and everthing takes a ton of money. I'm a working man and my wife,daughter and i love boating. Its really sad that you go look at 04's and up and they are trashed, my 99 looks like it just rolled off the show room floor compared to some of the boats i have looked at. I cant believe that people dont have enough respect for those things to take care of them. I'm tired of the low ball offfers from private and dealers! I NEVER thought upgrading to a bigger boat was going to be this hard!

There does seem to be a void of decently priced performance boats in that 4 to 8 year old range. You've either got over 10 years old and affordable or 4 years or newer and just too much money for the average Joe 6 pack making around 100 grand a year. Every boat I show my wife that we could swing paying cash for is too old for her and every boat she seems to like is more than we could write a check for.
That 5 year period when the lower end boat production came to a virtual halt is really having an impact now on the secondary market. What did Baja make in 2009??? 30 boats maybe when in 99' they probably built well over 500.

I feel your pain bossmjb I want to wait 2 more years before I upgrade... I am really afraid of the hosing i'm going to get...

Hmm. Dealers want good, late models, private guys wants deals, and mine is still up for grabs. 08, 33' Avanti, 525's, Bravo XR's, ITS, Under 200 hours, recent valve job on both. Book price//// LOL Over 200 K. Yours for 135K. With Warranty. :)

Bossmjb

Went through the same deal last couple of years. Flew to look at a couple of "Mint" boats and walked away. Then I found the one I wanted to buy and had to go through crazy amount of paperwork to get the deal done. The bank I finally went through wanted more history on me than the my mortgage company. I just kept my old boat and if it sells it sells. Good luck with your search, the boat/deal you are looking for is out there. Greg

Let's face it the average joe 6-pack doesn't make 100k per year either. The market is the high end, look how well skater, outer limits, etc are doing.

They are not making small 100k. boats either. Just what it is.

I think the combination of less factories out there making boats and the public being more wise about there decisions the second time around is driving the used market up!! A lot of people have stepped down or went back in years to have a boat myself included I no longer will finance anything just pay cash for it!! Speaking of that purchased a different boat to run this year:) I'll let the cat out of the bag soon!!

That's exactly the decision I made this year... Cheaper to Keep her!! :)

Engines out on the way to Potter Performance for fresh up, Paint getting touched up as we speak and new upholstery ... should be good as new when i get it all back together!!

Pat

I was just at Pier57 a few weeks ago. I was having a discusion with if I remember Eric? I told him as a consumer this "used" boat dealer has now become a "new" boat dealer. The simple fact that very few people can afford to purchase a new boat now. The 2004 292 that I just picked up I priced on the Formula site and with the "discounts" is still just shy of $200,000 with out a trailer!!!! I paid less than 1/4 that with a trailer. I like nice things and it took 6 months of hard looking to find one that was taken care of.

They are out there but you need to be willing to travel and walk away from alot that sound good on paper and pictures. I have was in 6 different states looking for the right one. Pier57 is a great place but you are going to pay for the convience of one place to look at several nice boats.

I am looking to move up as well. Even though "BOOK" value is a joke, mine isn't listed. There were only 5 built when the factory was destroyed in a storm, but a lot of people want a brand name. I bought it based on its merits (27 foot, stepped hull ,cabin,, 502mpi) but when I looked at trading, the dealer said "it would be tough to sell"...because there is no way for a bank to value it and most folks finance. He did say it was worth 25, roughly the same as a comparable Fountain but that and a quarter will get you a cup of coffee.... So I am either gonna take a hit if I trade or sell it outright and move up. But then I will need to buy another boat....LOL!

It isn't just convenience either... Think about what it takes to run a business like Pier57 and it is tens of thousands of dollars a month in costs to have the property and employees and transport and insurance and advertising and etc... Boat dealers are in the business to make money and they don't just do it for practice. Anyone who runs a business knows at the end of the day there has to be something left.

I have done business with them and I can say they are honest and fair to the end and that is all you can ask for really because they make an offer that they can live with and if it isn't one you can, walk away! It isn't personal it is just business. Scott and his entire staff are top notch!!

Tell ya the truth I like seeing the older boats come back around kinda brings us back to our younger days!! Plus the projects that have been posted start to finish is really cool to see it gives everybody different ideas

When I bought mine a couple of years ago I had the same issue. NADA or Buck is a joke. I wanted a really nice used boat but the banks would not loan all of the value on a used boat. If a boat is really taken care of then I think it should sell for more than NADA but the bank will not allow that so off I went thinking I would have to save more money or just be happy with what I already had. I found that I could buy new no problem. The bank was happy to lend me on a new boat. In fact the same boat used with 40 hours would cost me more to finance percentage rate and more of a down payment. I ended up buying new in 2010. The banks are really scared of the used boat market especially go fast. They got too many back with no motors or drives. Try and recoupe your money back on a boat that has no motors or drives. It really is the fault of the people that bought too much house and too much boat and now need a bailout.

Don't get me wrong. It would be worth every penny to purchase a boat from them if its the one your looking for. They are putting there name behind every boat they sell. I saw nothing that I would be concerned owning. He was very honest in even showing me the issues with each one.

Having bought a boat from Pier 57/Shogrens, from my experience "honesty" is not a word I would use to describe them. But that is a subject for another thread. Too many people think that they will make money on all the work put into a boat when it comes time to sell. The truth is, they are pleasure boats not investment boats. The true value is in the pleasure you get out of it and the market will determine what it sells for.

I just sold my Velocity 260 for well under book value. There isn't anything my boat needs either. Everything is spotless and mechanically sound. SO there are deals to be had. The guy that bought mine got one hell of a deal.. Me on the other hand, not so much....

I have a close friend selling an absolutely stunning 2003 35 Nordic Flame with fresh 700 HP Injected Pfaff motors and new drives. This boat is beyond clean and well maintained. If interested call Frank at 951 235 5124. Only asking $150,000 and worth every penny. Only used in Fresh water in Havasu.