Is the used boat market improving?
 

Appears that the used boat market is improving. I have had 3 unknown people track me down and offer significantly more then I paid last year for my boat and have heard similar stories from a few others.

Has the market improved dramatically in the last year? What are others experiencing?

I kind of thought that the used boat market was really peaking the last few years. New boats may be improving right now, they sure weren't a few years ago with the economy taking a crap, just look at all the manufactures that sold or went out of business.

I personally think that for certain brands the number of the used boats have flushed thru the system. I watch particular models and the volume has consistently gone down.

On the flip side I don't believe that the new boat market is that great either. The economy is still in the tank and unless you pay cash - again on some brands-- because of depreciation - you can be upside down within a year.

The bottom line is that the used market will continue and "good" used boats will always be in demand. It made me sick to see the boats that were being offered and how they were kept, treated or maintained. Boats that were only 1 year old look like they went thru World War III yet the owner would claim pristine condition.

my 2 cents

3pointstar

Real Estate is coming back pretty quicky down here. I even talked to a few people that are getting equity lines to do some repairs and pull some cash out! I didnt even know banks would do equity lines anymore - LOL! WOW! Flash back to 2006!

Pretty soon everybody can pull out equity and buy boats again! Yay! (Sarcasm!)

My local boat dealers tell me the Sub 60k market is on fire. Pontoon, runabouts, they have never sold so many.

As far as performance boats go, I am still seeing a decline in pricing as we move forward. One would think the shortage of new boats being produced in the mid premium line the number might have rose, it has not. A major player (key bank) is back in the performance loans market, however many continue to stay away.

I agree Keith, HELOC made 20-25 year old boats worth big bucks in the mid 2000's, those days are over :D

One thing that really has not changed is the premium market. Try to tell OL, Skater, NorTech, Cig that we are in a down economy. Same thing for super yachts

Well you don't see as many derigged boats at National Liquidators.

Other possibility is a negative one- SCAM. Bet if you told them "OK lets do it" that they suddenly have a trade or cashiers check for a higher amount and will need cash back. Hopefully I am wrong and the market is improving.

Nope all three of them were legit and had tracked me down through the manufacturer. I passed because I love the boat and don't want to be boatless. There is not much to choose from that would interest me, again maybe another reason prices seem to be on the rise, lack of quality inventory.

That's funny in the last 2 months I have had 2 people contact me about my 39 Cigarette... both legitimate people, one I knew another through a friend.
I told them both no but throw stupid money at me and I will consider it!!! I told the one guy let me bring it back from Florida (next week) and I will decide then but doubt it season will be here then.

Patrick

IMO the used sportboat market is still weak while the used wakeboard boat market is on fire along with pontoons - new and used pontoons still sell well. Every manu and I mean every boat manu sells center console boats now and for the past 3 years so in about 4 to 7 years that market will be so over saturated with used boats and less buyers. I sell boats going on the past 25 years and this market stinks for I/O rec boats and Sportboats especially compared to 8 years ago and back. .