Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

[KFS]

This is a s/o of another thread where the buyer's experience mirrored mine. We are trying to exercise at least some modicum of due diligence: See the boat, like the boat, arrange test drive/inspection of said boat - even within hours of seeing boat - and we are basically sold out from under by buyers who swoop in and apparently buy boats straight out driveways?

Heck, if I were a seller I'd go with the easy sale too but it's so frustrating! I had no idea boats were such a rare commodity

I'm not going to be pushed and realize it's going to be a while because basically, at least in our market (NE Ohio) boats are basically selling almost the minute the ad hits the web -- and being bought (it seems) by people who just show up and shove a wad of money at the seller.

Wish I had about ten boats to sell

Is this a normal seasonal thing or is this year particularly strange?

 

[Home Cookin']

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

I'm sure a large part of it is the time of the season. People who naively thought buying a boat was like buying a car--go out one Saturday, find it, pick it up, on the road that day--is not how boats work. Mama and the babies are crying, when are we getting on the lake? it's mid July already!
So the buyer throws caution to the wind and grabs any turn-key deal he finds. I bet the project boats aren't moving.

Meanwhile the sellers are nervous--need to get this thing sold now so I don't get stuck holding it until next year. In your area (north) and your kind of boat (lake/trailer) no one is buying in August to use a boat 2 weeks and put it away until May. So they price them to sell.

I tell boat shoppers to allow at least 4 weeks from purchase to maiden voyage, and 6-8 weeks to find a deal, which means start shopping in March to boat in May.

 

[tpenfield]

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

It is the time of year . . The days are getting shorter so anyone wanting a boat for this summer has no time to waste. Many of them may be posting here soon about unknown issues they find in the boats that they just bought.

Just understand it is the time of year and I would bet that you are looking in a popular size/price range. A month from now may be a different story. You just need to decide if you want to buy with the crowd or wait until you are one of the few looking.

 

[KFS]

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

It is the time of year . . The days are getting shorter so anyone wanting a boat for this summer has no time to waste. Many of them may be posting here soon about unknown issues they find in the boats that they just bought.

Just understand it is the time of year and I would bet that you are looking in a popular size/price range. A month from now may be a different story. You just need to decide if you want to buy with the crowd or wait until you are one of the few looking.

I vote the latter!

I think we are looking in a common/popular price range ($7-$10k) it's enough to think you can find a clean, quality boat but not so much $$$ that you have to live on it.

 

[tpenfield]

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

Yup, anything decent in the price range that you are looking is going to disappear before your eyes. People will pick those up without much diligence. Many will not do any survey or inspections for a boat under $10K.

 

[jigngrub]

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

Go boat shopping when there's 6 inches of snow on the ground, not too many people out buying boats then... you can get a good price too.

 

[acarter92]

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

Right towards the end of the boating season is the best. They decide they are done with it and don't want to have to winterize and store for the winter and the close it gets to freezing temps the better the deals get, and not too many people want to buy a boat just to look at it for 4 or 5 months. I picked up a jet ski last fall for $1,000, was in pretty good shape for the price. This spring I said the heck with the jet ski and bought my boat. I sold the jet ski for $1,500 pretty quickly.

Austin

 

[emoney]

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

Your choices are either to wait until winter, or change you buying tendencies. And the latter probably needs more focus than the former. Truth is, most boats I've seen for sale have been priced right, and in that price range, they won't sit for very long. Right now, I'd be rather concerned if the boat was still for sale after 2 weeks. I just sold a sailboat and closed the deal 3 days after I listed it on Craigslist. Had 5 people physically come look at the boat (not even mentioning the emails/phone calls). There's not a huge inventory, as the bottom already hit and now we're back on the uptick. If you look at a boat that seems to work for you, make an offer contingent on it checking out while you're there.

 

[doyall]

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

My story: I bought another boat early in the season and wanted to get rid of the existing one quick as it was all in the way. Posted to Craig's List one night, priced it right and sold it sight unseen the next morning based on pictures and description. Could have probably sold it three times notwithstanding that we got 2.8 inches of rain that day. I was pleased.

 

[KFS]

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

Go boat shopping when there's 6 inches of snow on the ground, not too many people out buying boats then... you can get a good price too.

Hope you're right. I know my tendency would be to just store it until the "Silly Season" comes back around again if I were a seller.

Your choices are either to wait until winter, or change you buying tendencies. And the latter probably needs more focus than the former. Truth is, most boats I've seen for sale have been priced right, and in that price range, they won't sit for very long. ... If you look at a boat that seems to work for you, make an offer contingent on it checking out while you're there.

Trying that and sellers will STILL sell right out from under you (apologetically) to the guy who just wants to take it away that day no questions asked.

 

[tpenfield]

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

Unless you have an accepted offer and given deposit money, you are just another 'looker' in the seller's mind. So, without that, if someone else shows up with cash in hand, the deal will be done right there. From the seller's perspective, 'payment on the spot' is better than a 'potential offer'.

 

[KFS]

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

Unless you have an accepted offer and given deposit money, you are just another 'looker' in the seller's mind. So, without that, if someone else shows up with cash in hand, the deal will be done right there. From the seller's perspective, 'payment on the spot' is better than a 'potential offer'.

Understandable. What we ran into was she wouldn't even accept a deposit (paying asking) and arrange check/test. She had a buyer coming the next morning who wanted to get out on the lake within days and basically extracted a promise to not sell to anyone else. She suggested that we come back and get into a bidding war with him based on driveway inspection only. We passed

This is apparently how sales of 18'-20' bow riders in the $8-$12k range are going in NE right now. It's so tight that "want to buy" ads are common.

Fortunately soccer season is in full swing so we can easily wait and keep our eyes peeled. Also happy for the sellers. Must be nice to know you can get it gone!

 

[DB Cooper]

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

I am in the same situation as you, same size and price range. Here in the southeast the pickens are thin for good boats. The best time to shop was in late March and then again in June. My problem has been the boats are always a drive so I cannot get there until the weekend, by that time they are gone. The most frustrating part of it are the people who leave their add on CL after it has sold, and then do not even reply with a "its sold" email and do not return calls.

This time of year is definitely a sellers market, buyers market only for junk. The size and price range we are in is always a sellers market, it is the most popular for people wanting to enter the sport. I have seen far less candidates this year on the market than last season, shows a strengthening economy I suppose.

BTW, I observed last year that after labor Day, new boat listings all but dried up until March. The only boats for sale were the same ones that couldn't sell all summer. Best to wait till Spring and have the cash in hand and ready to react. Most people know that selling off season brings less money and once they have paid to winterize it might as well wait until Spring.

 

[KFS]

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

I am in the same situation as you, same size and price range. Here in the southeast the pickens are thin for good boats. The best time to shop was in late March and then again in June. My problem has been the boats are always a drive so I cannot get there until the weekend, by that time they are gone. The most frustrating part of it are the people who leave their add on CL after it has sold, and then do not even reply with a "its sold" email and do not return calls.

This time of year is definitely a sellers market, buyers market only for junk. The size and price range we are in is always a sellers market, it is the most popular for people wanting to enter the sport. I have seen far less candidates this year on the market than last season, shows a strengthening economy I suppose.

BTW, I observed last year that after labor Day, new boat listings all but dried up until March. The only boats for sale were the same ones that couldn't sell all summer. Best to wait till Spring and have the cash in hand and ready to react. Most people know that selling off season brings less money and once they have paid to winterize it might as well wait until Spring.

I'm sure you are right. Agree on CL frustration. How about failure to respond to email and then relist the ad just hours ago? Apparently they want to advertise but never actually respond or sell?

 

[JimKW]

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

Wow I just tried to do some searching for what you are looking for and there really is some slim pickens. I could not find anything even worth looking at on Craigslist in Columbus. Then I went to boattrader, several local dealers and some other online listing and found next to nothing. Good luck!

 

[Cheetah 210es]

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

http://www.golsn.com/listings/recreational_vehicles/boats-water_crafts/2894434.html


1986 24ft taylor craft 225 johnson center console this is a nice boat. great boat for ski or pulling tube. new bikini top new seats new LED lights mounted down low to light up floor new glove box new lids on battery boxes new Sony CD player sounds great very loud new running lights.the boat runs great. Its like a pontoon with lots of room that goes very fast.I use it with my family pulling a tube.come see this boat you will like it. call or text only DOUG I have a lot more in this boat than i am asking. reduced to 3500.00 firm look at my other ads for more pitchers. i can send more pitchers on my phone only

I like the look of this one.

 

[KFS]

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

Wow I just tried to do some searching for what you are looking for and there really is some slim pickens. I could not find anything even worth looking at on Craigslist in Columbus. Then I went to boattrader, several local dealers and some other online listing and found next to nothing. Good luck!

Right?

The only reason I'm obsessing is because we missed out on a good one at a great price because we didn't know to throw our bodies across it screaming "mine!"

 

[acarter92]

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

One thing I've found with craigslist (when I'm the seller) is if they don't call me, they usually aren't serious. I always list my phone or they can contact through the craigslist email system. I've sold many many things on craigslist from boats to trucks tractors, and I don't think I've even sold something to someone who has made first contact by email. When I don't feel like dealing with the BS emails I sometimes put DON'T EMAIL in the add.

My point is, if the add has a number listed (some sellers only list email) then call it.

Austin

 

[KFS]

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

One thing I've found with craigslist (when I'm the seller) is if they don't call me, they usually aren't serious. I always list my phone or they can contact through the craigslist email system. I've sold many many things on craigslist from boats to trucks tractors, and I don't think I've even sold something to someone who has made first contact by email. When I don't feel like dealing with the BS emails I sometimes put DON'T EMAIL in the add.

My point is, if the add has a number listed (some sellers only list email) then call it.

Austin

Agree completely and always do.

If email is the only contact given I am careful to say more than "is this still available?" That seems to be the chosen line of scammers.

 

[MCFreshWes]

Re: Buying Used: It's Crazy Out there - will the Seller's Market Swing Back?

Go boat shopping when there's 6 inches of snow on the ground, not too many people out buying boats then... you can get a good price too.

Im looking for my first boat in Omaha, NE. How do I wait for a good price and test drive in 6 inches of snow?