Boat Prices, spring 2008

[Genesis]

We're nowhere near the end of this folks.

The time to buy will be this coming winter when people have to sell, which will come (but hasn't yet), or perhaps in late '09 and into '10.

The economic damage hasn't even begun to be recognized yet, unfortunately, and all the "wise guys" in DC are doing exactly the wrong thing.

[Funat50]

About the only thing worse than trying to sell your boat right now is being a broker trying to sell a boat right now. Even being a buyer is tough because you're so afraid things are going to get worse and it tends to paralyze the entire market. Economics is like dominos, until one falls there's no mometum to get things going and right now we are dead in the water.

[Genesis]

58YF, in excellent condition, under $100k.

That's my prediction for when we have finally seen something near a bottom.

And yes, I will have cash in hand.

[Passages]

58YF, in excellent condition, under $100k.

You're buying Freebird's boat?

[Capt K]

You're buying Freebird's boat?

EXCELLENT CONDITION......................

[SKYCHENEY]

YF, not TC. Those can be had under 100K right now.

[SeaEric]

About the only thing worse than trying to sell your boat right now is being a broker trying to sell a boat right now. Even being a buyer is tough because you're so afraid things are going to get worse and it tends to paralyze the entire market. Economics is like dominos, until one falls there's no mometum to get things going and right now we are dead in the water.

Its not a good time to be selling any boat that is over priced, for sure. I can tell you all that I'm having a good year and you may not believe me. Go look at my website, click on the inventory and look at all the red SOLD boats.

Aggressivly priced boats in good condition are selling. Specialty and unique boats are selling. If you owe the bank near what she's worth, or more- God bless you. And if your boat needs work- forget about selling it. There is no market AT ALL for any kind of project, unless it is a total give away.

[Genesis]

Yep.

Aggressive price, good condition, it will sell.

But the key here is "aggressive price" and "good condition", both.

Either is missing, she's gonna sit.

[SeaEric]

True Karl, and I will add one more element. Geography. Inventory is best located in the populated, mainstream boat marketplace, not at some out of the way location.

[Funat50]

Location of inventory has become an issue with the cost of getting a boat from point A to Z. I'm in the Southeast so don't even bother to look at boats on the West coast. I found a boat I liked but was in Texas and my broker said it would cost 10k+ just to get it here so that was an added issue.
By the way, did I mention that along with loans being much harder to get (if you don't have a load of cash) insurance is a mjor bear. It is pointless to look for a boat unless you've got your financing in place a resonalble commitment on insurance.