High Prices of used boats and the future? Bubble or not?

[hostage]

Was looking at upgrading my 19ft cuddy to a 21-23ft open bow as I have a family now and my cuddy is feeling a bit cramped as of late. I know demand is high from people wanting to get out from covid. It feels like runabouts have seen a 2 fold increase in price. Even my cuddy value has gone up a lot according to the market and what a marina said they could mark it on cosigment. I know there are a lot less boats manufactured from the housing crisis that created a dip in supply of boats.

I am wondering if we are seeing a temporary bubble in the prices of used boats due to the lack of inventory combined with the popularity of outdoor activity during covid or is this more permament from inflation and lack of inventory in general?

What are your guy's thoughts?

 

[briangcc]

Supply chain is doing crazy, crazy stuff with all sorts of things - gas, trucks/cars, boats, travel trailers, you name it. Project boats going for 500-1000 are now going 2-3x that price if you're lucky. New...you're ordering for NEXT summer in most cases that I've seen....and you may be looking at a hefty price tag.

For me, replacing my Chap which is only 5 years old, requires me to bump up 2' and pay about a 20k premium over what I paid on mine. Sure some of that is switch to outboard or cats but still that's only over the past 5 years - nuts.

Heck, my 2021 Ram which I bought new last Sept, now costs another 16k to get a comparable 2022 model.

Until that changes things are only going to get more expensive.

 

[dingbat]

Was looking at upgrading my 19ft cuddy to a 21-23ft open bow as I have a family now and my cuddy is feeling a bit cramped as of late. I know demand is high from people wanting to get out from covid. It feels like runabouts have seen a 2 fold increase in price. Even my cuddy value has gone up a lot according to the market and what a marina said they could mark it on cosigment. I know there are a lot less boats manufactured from the housing crisis that created a dip in supply of boats.

I am wondering if we are seeing a temporary bubble in the prices of used boats due to the lack of inventory combined with the popularity of outdoor activity during covid or is this more permament from inflation and lack of inventory in general?

What are your guy's thoughts?

Once prices rise and are accepted by the market, prices never go back down very far, if at all.....

Having said that, I'm already starting to see the Great ($5 a Gallon) Sell off of 2022 under way.

Prices are starting to retreat a bit in the last couple of weeks. May be able to pickup a fairly decent bargain at the end of the year if gas prices don't drop significantly between now and then.

I went from 20' to 22' the last time this happened. Bought a 4 yro boat for ~50 cents on the dollar. Owner couldn't afford a new boat payment and the $425 to fill up the tank.

 

[hostage]

Once prices rise and are accepted by the market, prices never go back down very far, if at all.....

Having said that, I'm already starting to see the Great ($5 a Gallon) Sell off of 2022 under way.

Prices are starting to retreat a bit in the last couple of weeks. May be able to pickup a fairly decent bargain at the end of the year if gas prices don't drop significantly between now and then.

I went from 20' to 22' the last time this happened. Bought a 4 yro boat for ~50 cents on the dollar. Owner couldn't afford a new boat payment and the $425 to fill up the tank.

This is what I am hoping and thinking. Also maybe the novality of boating has worn off as well? With a wife who likes to chill and not ride around, I have enough issues going threw a whole tank, I even got a solar panel to help keep the battery up.

 

[dingbat]

With a wife who likes to chill and not ride around, I have enough issues going threw a whole tank,...

That may change.......with a larger boat comes an increase in opportunities to boat (weather) as well as a more comfortable ride.

I'm fortunate that my wife gets sea sick looking at the boat, but I have no problem picking up and running 15-20 miles down Bay to hit a "hot bite". At 1.9 MPG, it adds up quickly......

 

[hostage]

That may change.......with a larger boat comes an increase in opportunities to boat (weather) as well as a more comfortable ride.

I'm fortunate that my wife gets sea sick looking at the boat, but I have no problem picking up and running 15-20 miles down Bay to hit a "hot bite". At 1.9 MPG, it adds up quickly......

I could only wish. The deep vhull cuddy that I own has pretty good sea keep. I don't know if another 2 feet will help especially as I am looking at deckboats. ><

That being said my wife is a bit extreme when it comes to her limits in boating. First time out on my boat she was crying at idle speed. Didn't know if I had to get rid of the boat or the gf at the time. She has warmed up a bit, but not by a lot.

 

[dingbat]

I could only wish. The deep vhull cuddy that I own has pretty good sea keep. I don't know if another 2 feet will help especially as I am looking at deckboats.

Two feet makes a huge difference with any hull design because of the increased displacement.

Let me pass on a valuable lesson with girl friends and boats….boating is a life style.

If she is whining about the boat now, it will be the first point of grievance once you put a ring on her finger. Choose wisely

 

[hostage]

Two feet makes a huge difference with any hull design because of the increased displacement.

Let me pass on a valuable lesson with girl friends and boats….boating is a life style.

If she is whining about the boat now, it will be the first point of grievance once you put a ring on her finger. Choose wisely

Already made the choice about 9 years ago.

 

[Scott Danforth]

We are going to see a market correction shortly. similar to the 2005-2007 price correction that happened in 2008-2010. may not be as drastic, however there will be a slight correction.

RV market prices have started falling. When the lots were empty, RV dealers were charging higher prices. as the lots started filling up..... deals to be had

Same with boat dealers. 6 months ago, their lots were empty. now they are full.

$5/gallon prices of fuel will help the car/boat market this winter.

 

[hostage]

We are going to see a market correction shortly. similar to the 2005-2007 price correction that happened in 2008-2010. may not be as drastic, however there will be a slight correction.

RV market prices have started falling. When the lots were empty, RV dealers were charging higher prices. as the lots started filling up..... deals to be had

Same with boat dealers. 6 months ago, their lots were empty. now they are full.

$5/gallon prices of fuel will help the car/boat market this winter.

Yeah, wondering if I should wait or not. Two way street as I own a 19ft cuddy.