Dropping Boat Values with High Gas Prices and a Tanking Economy

[jamesladd]

With the rising price of gas and the tanking economy, what can we expect used boat values to do? I am looking at a 92 38' Sea Ray with twin 502s. I would think that eventually gas prices will make these things obsolete. Does anybody have any insight on where used boat powerboat prices are heading?

 

[ziggy]

Re: Dropping Boat Values with High Gas Prices and a Tanking Economy

don't know the answer to yer question man, but i'd think that anyone who can afford a 38' boat with twin 502's probably don't care one way or the other about fuel prices...... in other words, the haves (vs the havenots) ain't the ones that are gonna be hurt by fuel prices.... i think there will still be a market for them.....

 

[donnymac]

Re: Dropping Boat Values with High Gas Prices and a Tanking Economy

me thinks you're right Ziggy. I'm stuck in the middle with a middle sized boat
(19'). If I spent $500 last year, looks like this year I'll spend $625. The price of fuel makes the cost of boat ownership unfeasible to those who might have been thinking about it. If I had bought a large boat 4 or 5 years ago in the
30'+ range I know I'd be selling today. I have noticed locally that the price of larger(30+) boats has dropped.

 

[bhammer]

Re: Dropping Boat Values with High Gas Prices and a Tanking Economy

I'm in the corporate aviation biz where fuel is anywhere from 5 to 8 a gallon and fuel prices haven't done anything and I'd guess there will be some people who stay off the lake with the higher fuel prices. I was out all day today and there were plenty of boats out. But I agree with what other's have said... If you can afford a big boat like that, fuel probably isn't that much of an issue.

With the economy slower than it has been in some time, I'd imagine that some boat markets will soften a bit.

 

[ksubigbuck]

Re: Dropping Boat Values with High Gas Prices and a Tanking Economy

Who says we are in a recession? We have had like 6 straight years of economic growth for pete's sake! 95% employment rate is pretty darn good too! Yes, gas prices have gone up...and you are going to feel it in your wallet. But, you can buy houses/real estate for dirt cheap right now. Don't believe everything you hear on CNN. Fear = higher ratings to the media. The sky is not falling.

 

[SS MAYFLOAT]

Re: Dropping Boat Values with High Gas Prices and a Tanking Economy

All motorized recreation vehicles that consume large amounts of fuel is being hit hard right now. Figures show this area is down 20% in sales.

I didn't boat last year due to gas prices & a honey do list. If others with big boats like myself, they will be spending more time hooked up to the shore power in their slip. I'll still be on the water, enjoying relaxation, and not spending much on fuel this year.

 

[tommays]

Re: Dropping Boat Values with High Gas Prices and a Tanking Economy

You can not take everything at face value as it very common for people to have toys to impress that are right at the edge of there means

I have seen the same cycle happen many times when there is a bump in the road and it always works it self out

[FONT=&quot]Personally because of the way my parents raised me I have always kept the cost it takes to have a day?s fun in mind when I have bought different toys and tryed to stay well back from the edge
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