Great time to sell a used boat.

[DeepCMark58A]

Listing 2 boats next week one fishing boat and one vintage Alumacraft. Should sell fast and for a premium based on craigslist trends. I have never seen such a lack of listings available on Minneapolis craigs list.

 

[DeepCMark58A]

Sold my Mr. Pike for twice what I paid for it to the first guy that came to look at it. I have not actually listed the vintage Alumacraft yet, next week.

 

[Scott Danforth]

unless you have your replacement boat, you may have an issue finding on to get back onto the water.

 

[racerone]

The pandemic has changed the way folks think.------I hear that a house sold in a town near me ----18 offers on it and sold for way over asking price.-----Unheard of 2 years ago here.----Good used boats are also hard to f8ind.

 

[Scott Danforth]

just look at the newbies coming here with their 45 year old OMC powered boats asking for help...... and they paid more money for those boats that were sitting in a field 2 years ago than I did for my Rogue.

boats are selling, and way too many unsuspecting folks are paying.

 

[DeepCMark58A]

unless you have your replacement boat, you may have an issue finding on to get back onto the water.

Scott come on man do you think I would sell my boat without another lined up? I have a larger one with a bigger motor that I will be paying cash for. Nothing better than a boat you don't have payments on.

 

[JimS123]

Personally, I think now is the WORST time to sell a used boat. If you're so inclined to buy used, most of what's for sale is junk. And most of the new models are sold out.

So, you get a lot for the old one, but the new one costs more. It all balances out. I like it better when you can place an order and have it built and delivered within 3-4 months.

 

[dingbat]

The pandemic has changed the way folks think.------I hear that a house sold in a town near me ----18 offers on it and sold for way over asking price.----

Nothing to do with the way people think. It’s all about supply and demand.

Around here, (MD\NOVA\DC area) new housing starts are non-existent and existing housing inventories are at record lows. The homes that are on the market are selling in no time at all with huge premiums.

Buyers need to be pre-approved with cash in hand to even be considered. Someone with a contingency (home to sale first) need not bother to bid.

Been browsing water front homes in multiple areas of Tide Water Va. in anticipation of retirement for a couple of years now. Asking prices have gone up 25-30% since last Spring. Actual sell prices have surpass that figure.

Toying with the idea of selling this place, retiring early, and living in a rental for a few years if we have to.

 

[matt167]

I have toyed with the idea of selling my big boat, knowing I probably won't use it this year and I can make a little money on it, but I'll keep it for now.

I did overspend on my 14' SC Holiday, giving $1,600 for it when I know a year or 2 ago it would have been a $500 boat. I still spent about $2k in repairs making it really water ready and un doing many fisherman fixes with the biggest expense being a brand new trailer

 

[lrdchaos]

It will be interesting to see what happens in the next couple of years. Will the market support these prices or will people that are paying premiums for houses and boats start dumping them into foreclosure since no one wants to pay that much?

 

[Captain Caveman]

We bought our 1950s rambler in 2009 when the market bottomed out for $175k, it had been originally listed for $240k pre-Great Recession. My wife has "the bug" again and we just looked at a 1970s house in a nice neighborhood. We figured it was in the $400k-$500k range. Nope, she hasn't even listed (family friend) but has already gotten bids for $655k - and the house definitely needs $50-$100k of work. Prices are insane. I will wait until things are more reasonable.

 

[tpenfield]

Definitely craziness in the market place for boats, RV's, even houses.

I am thinking of selling my boat over the summer, but the problem may be finding another one at a 'reasonable' price, as Scott mentioned.

I have never seen the used boat market so depleted of inventory . . . and the new market is not any better. Boat dealers near me are finally getting inventory on their lots. We shall see if it disappears by June like it did last year.

 

[DeepCMark58A]

Personally, I think now is the WORST time to sell a used boat. If you're so inclined to buy used, most of what's for sale is junk. And most of the new models are sold out.

So, you get a lot for the old one, but the new one costs more. It all balances out. I like it better when you can place an order and have it built and delivered within 3-4 months.

The boat I am buying is owned by a friend I have ridden in the boat it is in very good condition, I typically do my own service and repair so I am not held hostage by a dealer. There is no way I am buying a new boat that will do nothing but depreciate, I am not out to impress anybody on the water.

 

[lrdchaos]

The boat I am buying is owned by a friend I have ridden in the boat it is in very good condition, I typically do my own service and repair so I am not held hostage by a dealer. There is no way I am buying a new boat that will do nothing but depreciate, I am not out to impress anybody on the water.

We were in the same boat so to speak. Bought a used boat that was 5 years old that was less than half a new boat. I wanted new, but couldn’t justify the depreciation. The one we found was towards the top of book value, but still within book and seems to be in good shape.

 

[tpenfield]

And the beat goes on . . . The market still seems to be moving at a fast pace, maybe faster than it was moving last year.

I have been casually looking at Ad listings for my 'next' boat (used). Back in January/February, there were about 5-6 boats listed in each of the brands/models that I am interested in. Now . . . there are hardly any and it seems like the ones that come on the market are going quickly.

Crazy times. . .

 

[Scott Danforth]

new boat builds have supply chain issues as well.

• resin on allocation
• seat foam and vinyl on allocation
• plastics on allocation
• hardware on allocation
• terminals for wiring harnesses on allocation
• cost of a 20' ISO container shot up from $2500 to well over $7000
• incoming tariffs on parts from BRIC countries
• some idiot ran a big boat aground in a ditch disrupting merchandise for 2 weeks.

 

[tpenfield]

I guess the real challenge would be to know when to sell and then have the market tumble so you can buy at a much better price. Might be waiting a while for that process to play out though . . .

 

[lrdchaos]

If I didn’t plan on keeping my boat for the next 8-10 years I would sell now. My guess is that within the next year to a year and a half the market will be flooded with boats people can’t get rid of.

 

[dingbat]

It will be interesting to see what happens in the next couple of years. Will the market support these prices or will people that are paying premiums for houses and boats start dumping them into foreclosure since no one wants to pay that much?

People typically buy home on loan payments, not price.

If the bottom where to fall out of the market tomorrow, they may loose some equity but their payments will go unchanged.

 

[lrdchaos]

People typically buy home on loan payments, not price.

If the bottom where to fall out of the market tomorrow, they may loose some equity but their payments will go unchanged.

If the bottom falls out, that likely means jobs as well. So the payments they can make now they may not be able to make. Then they will either have to try and sell their house at what they owe, which will likely be more than it’s worth, or lose any equity they have and turn it over to foreclosure. I guess I’m probably different than a lot people though. Everything I buy I always ask myself, if I have to sell it can I get out with minimal loss? And I have always bought my homes on price....what will it cost me in the long run with interest and such.