Purchasing in this market

[gtochris]

I'm in a real dilemma,
We have wanted to upgrade to a more modern lake boat for a while, we have had our 1999 Wellcraft since 2013. Finally have all the stars lined up and been shopping.
We started looking for a 22-24' Bowrider, then a wake boat, explored a tri-toon, then outboards, and now back to a bowrider.
I'm so conflicted with this pricing and market. Currently we are open to spending up to 50K. We have a friend who spent $45K and got a brand new 23' Chaparral in 2019... and a friend who paid $36K for a Sea Ray Sundeck 22' that was 2 years old.

Last week we took a test drive of a 2014 Sundeck 22', 230 hours, 5.0L MPI, nice trailer... $56K.
I'm having a hard time rationalizing spending 50K on an 8-year-old boat after knowing what this would have sold for 2 years prior.
I'm convinced with inflation and high gas prices something has to give. Do we wait it out a bit more? or do we bit the bullet and take a chance?
-Chris

 

[roscoe]

wait, then wait a little longer.

 

[tpenfield]

Everyone's situation is different, so you have to apply some judgement. Last year folks were predicting a down market, given the huge demand the year prior (2020). It didn't happen and the demand surge seems to be continuing into 2022, although the supply has caught up to some extent. Not sure why, but maybe lots of folks are using the strong market to upgrade, as you are.

You did not mention if you still have to sell the Wellcraft but if sold, then you have a good idea of what you can buy.

In terms of searching for the next boat, cast a wide net. Do a lot of armchair shopping to see what availability and pricing looks like across a wide(er) area. Take note of price reductions (which means the boat was priced too high). Boats that hang out on the market are also priced too high or have issues.

See what $50K buys you. Don't compare pricing to 3 years ago (2019), as everything is a good 30% up from those prices. If/when you find something, be ready to move quickly, as you will be competing with other buyers doing the same.

If you choose to wait, then it is a roll of the dice as to if prices will pull back a bit. You'll have to decide if waiting for an unknown is worth it.

 

[jbcurt00]

It's also boating season, which pushes demand and prices up

 

[gtochris]

You did not mention if you still have to sell the Wellcraft but if sold, then you have a good idea of what you can buy.

In terms of searching for the next boat, cast a wide net. Do a lot of armchair shopping to see what availability and pricing looks like across a wide(er) area. Take note of price reductions (which means the boat was priced too high). Boats that hang out on the market are also priced too high or have issues.

We still have the Wellcraft and are using it. I'm fairly certain with the 5.7L, newer trailer, and that the boat has a good sporty look and is clean I can probably get 12-14K here.

Regarding casting a wide net, unfortunately with my schedule and my partner's business the chances of either of us getting beyond 50-100 miles to look at a boat are slim to none.

 

[southkogs]

A couple of thoughts: If you can make the current boat work for the season, you may find prices come down some at the season end, giving you some better options.

Another option: we have a couple of "boat clubs" in our area. You pay monthly, reserve what you want to use for the weekend, show up and go out. For the first time in a while, I think the numbers start making some sense to look at. It gives you several options, the boats seem well kept, and keeps the maintenance off of you. - may be a way to get into a newer boat, but not have to take the punch of pretty high prices.

 

[briangcc]

I looked into one of those boat clubs once. Laughed when they couldn't answer me what availability they had on other lakes I frequent - I have (2) Great Lakes and all the Finger Lakes readily available.

I'd echo waiting as at some point there's going to be a market correction.

FWIW...my current boat was bought new in '17 for mid-30's. I can't touch a replacement boat for under 50k...most I configure are at the 70k range. (**Full disclaimer - these are 2-3' longer as they don't make a 19' fish & ski any longer). It is what it is right now.

 

[Scott06]

We still have the Wellcraft and are using it. I'm fairly certain with the 5.7L, newer trailer, and that the boat has a good sporty look and is clean I can probably get 12-14K here.

Regarding casting a wide net, unfortunately with my schedule and my partner's business the chances of either of us getting beyond 50-100 miles to look at a boat are slim to none.

All depends on how much of a hole your money is burning in your pocket. If the 'extra' cost to buy now doesn't bother you go ahead enjoy the upgrade. Personally I would wait but I'm a tight azzz... with a kid in college....

 

[Lou C]

I agree about paying that much for an 8 year old boat. Having said that last year a relative of mine bought a 2020 Chapparal 21SSI with the Merc 4.5 200 hp V6. Boat had basically no hours on it & the price was 38k. Wanted him to get an outboard instead due to our boating conditions but that’s what was available & it turned out to be a very nice running boat.
As for me no way am I paying those prices for what’s basically a 5 month season here. I’ll fix what breaks on my 34 year old for now! That money I’ll spend on a modern muscle car instead…

 

[gtochris]

I agree about paying that much for an 8 year old boat. Having said that last year a relative of mine bought a 2020 Chapparal 21SSI with the Merc 4.5 200 hp V6. Boat had basically no hours on it & the price was 38k. Wanted him to get an outboard instead due to our boating conditions but that’s what was available & it turned out to be a very nice running boat.
As for me no way am I paying those prices for what’s basically a 5 month season here. I’ll fix what breaks on my 34 year old for now! That money I’ll spend on a modern muscle car instead

Unfortunately when we bought the Wellcraft, it was already a 14yo boat and quite hammered. My husband and I did a serious amount of wetsanding and buffing, probably 20+ hours. She has a number a battle scars and scratches from the prior owner who didn't care. We did a lot of engine tuning and bought a proper fitting trailer. We made it work. I love the white and simple graphics: Purple, Teal & Black, perfect 90's theme.

We don't have kids nor any other debts. I'd like to get another Camaro or Corvette but we can do that too.

It's been a week, I offered $48K, they countered at $53K. I just can't mentally do that jump or negotiate further on this one consciously.

 

[tpenfield]

Nothing wrong in offering an amount that you are willing to pay. Been there, Done that.

You may not get this boat, but everything happens for a reason, and usually in the end you have what you wanted at the price you were willing to pay.

In my recent boat search, I offered someone 85% of their asking price, because I thought their asking price was high. They declined . . . as far as I know they still have the boat. I ended up offering on another boat of same model/year . . . got what I wanted at a lower price than I offered the first guy.

Both boats were more $$$ than I wanted to spend and both boats needed more work than I was hoping for, but at the end of the day, I am happy that I got the second boat.

 

[FLATHEAD]

That money I’ll spend on a modern muscle car instead…

Your going to pay more for that right now as well. In March I sold a two year old Charger scat pack for 7000$ more than I paid new. It was pristine, but still.
Miss that one, but couldn’t pass up the deal.

 

[Scott06]

Unfortunately when we bought the Wellcraft, it was already a 14yo boat and quite hammered. My husband and I did a serious amount of wetsanding and buffing, probably 20+ hours. She has a number a battle scars and scratches from the prior owner who didn't care. We did a lot of engine tuning and bought a proper fitting trailer. We made it work. I love the white and simple graphics: Purple, Teal & Black, perfect 90's theme.

We don't have kids nor any other debts. I'd like to get another Camaro or Corvette but we can do that too.

It's been a week, I offered $48K, they countered at $53K. I just can't mentally do that jump or negotiate further on this one consciously.

Nice looking boat, I think you did the smart move. I prefer my boats pre scratched anyways....

I assume one of you has a GTO given the user name ? I have a 65

 

[Scode68]

Yeah, I'll echo on the surprise I got while searching for a 18-20' DC. Been looking for about a year and it seams that used boats are being posted at NADA full retail value or higher. Last one I looked at had soft floors and looked like it was beat with a chain (2000 2100 DC Seaswirl, $12K).

 

[Lou C]

Just for laughs I went on the Four Winns website and priced out the modern version of our old boat....$65,000....when it comes time I'll repower....got a spare Cobra drive and transom assembly in the garage....good enough for now....

 

[garbageguy]

Yes, with all the current goings-on, we're gonna run our '98 Wellcraft 240 til it gets beyond our abilities, time, $ - then we'll see. So glad we put fresh power in the Wellcraft a few years ago - and that carb'd GM 350 is something I can work on. The boat isn't perfect, but if she'll continue to get us on the water here safely, we'll run it.
Sound like your stage in life is similar to ours. Interesting how a 1998 boat is "so old" now - I like that, and the Admiral is OK with white teal, and black

I've also decided to buy-out our leased 2019 land-cruiser (station wagon, yes a car), it should carry me most the rest of my days on this planet.

 

[gtochris]

Yes, with all the current goings-on, we're gonna run our '98 Wellcraft 240 til it gets beyond our abilities, time, $ - then we'll see. So glad we put fresh power in the Wellcraft a few years ago - and that carb'd GM 350 is something I can work on. The boat isn't perfect, but if she'll continue to get us on the water here safely, we'll run it.
Sound like your stage in life is similar to ours. Interesting how a 1998 boat is "so old" now - I like that, and the Admiral is OK with white teal, and black

I've also decided to buy-out our leased 2019 land-cruiser (station wagon, yes a car), it should carry me most the rest of my days on this planet.

I'm just going to back off the pressure I've been exerting on wanting an upgrade. We still want to do it but will relax the timeline.

The 2019 Land Cruiser is a legend and definitely a keeper! Great vehicle! Just have stock in a fuel refinery!