Valuing a used boat?

[AKRISONER]

12 hours ago, 410001661 said:

Toronto condo market is down 20% YTD.  I fully expect that 1-2 years post COVID there will be an over supply of boats, motorcycles, cottages, & ATV's on the market as people return to their regular pattern of life - city living, European vacations, and Florida winter homes.  

That’s going to grow. From my agent who works toronto, last October 4200 units moved in October, this year 200 total...

 

the market has already collapsed entirely 

[Hack_Fisherman]

It was nearly impossible to buy a used 60 or 70hp 2stroke motors this year. Or at least older, usable ones. There was literally nothing out there

[410001661]

On 11/26/2020 at 6:28 PM, Hack_Fisherman said:

It was nearly impossible to buy a used 60 or 70hp 2stroke motors this year. Or at least older, usable ones. There was literally nothing out there

I was thinking about upgrading the 40Hp Merc EFI on my Sylvan Explorer 1600 and found Dundas Marine had some new 60Hp Etec's......and a couple of 75Hp as well.  I prices up a new 75Hp and by the time I swapped the controls and installed the motor it would cost me about $12k.  I do not know what the value of a lightly used mint 40Hp EFI but I decided to just buy a new boat all together.  I bought a mint 2017 Renegade with a 90Hp Etec and sold my Explorer 1600.

Just do not see the value in swapping motors unless you LOVE your existing boat.

[Hack_Fisherman]

On 12/1/2020 at 10:38 AM, 410001661 said:

I was thinking about upgrading the 40Hp Merc EFI on my Sylvan Explorer 1600 and found Dundas Marine had some new 60Hp Etec's......and a couple of 75Hp as well.  I prices up a new 75Hp and by the time I swapped the controls and installed the motor it would cost me about $12k.  I do not know what the value of a lightly used mint 40Hp EFI but I decided to just buy a new boat all together.  I bought a mint 2017 Renegade with a 90Hp Etec and sold my Explorer 1600.

Just do not see the value in swapping motors unless you LOVE your existing boat.

I buy everything for cash. Buying a brand new boat for me is not in the cards. No payments, no interest. I move up by buying and selling, upgrading etc.

Edited December 28, 2020 by Hack_Fisherman

[410001661]

On 12/28/2020 at 11:43 AM, Hack_Fisherman said:

I buy everything for cash. Buying a brand new boat for me is not in the cards. No payments, no interest. I move up by buying and selling, upgrading etc.

We are one and the same.  I paid cash for the boat as well, I am not one to finance toys.  I do think that there will be a healthy used boat market in the next 2-3 years.  

[AKRISONER]

2 hours ago, 410001661 said:

We are one and the same.  I paid cash for the boat as well, I am not one to finance toys.  I do think that there will be a healthy used boat market in the next 2-3 years.  

this may be the day that I end up pulling the trigger to get into a full sized bass boat...going to be tough to do though after all of the bloody work ive put into this boat...seems ridiculous to throw away that work to fix someone else's problems lol. 

[410001661]

Like always I think this spring will be a great time to buy not not a great time to sell 🤑

[Tjames09]

Well I was never able to find anything lol. Now I wait until spring and hope for the best. 

[Hack_Fisherman]

2 hours ago, Tjames09 said:

Well I was never able to find anything lol. Now I wait until spring and hope for the best. 

This was the year to sell. EVERYONE wanted to get out on the water after being under lockdown. Many Marinas sold out on a lot and were actively looking to buy up good used to re-sell. Some were advertising to buy. It was tough to find any deals out there. 

I saw a few good ones come up but they immediately sold in a day or two before I could get there. 

[BillM]

Going to be slim pickings come spring.  Gotta be ready with cash in hand and willing to drive. 

[AKRISONER]

Yup...this pandemic ain’t over...not even close. In reality we’re not even half way done yet if you can believe that. This spring you are going to be seeing even more people that felt bored or hesitant last year not knowing what the spring/summer held. Now we know for certain we’re in it for the long haul with fall being the optimistic end to this nightmare. As such people will be making plans to create their own fun for summer. 
 

in the United States every bass boat manufacturer was basically sold out entirely. I heard of some guys just getting their boats delivered now and they bought them back in February and March!

[Nycflyangler]

On 11/17/2020 at 10:58 AM, Tjames09 said:

Actually it makes perfect sense.

Not everyone is in a profession that's negatively affected by COVID. If you can work from home, drawing your normal salary, you can't spend disposable income on things like movies, theater, dining out or travel. 

They have a lot of unused money. Which afford them the ability to acquire items like boats and cars, that people whose job is affected, can no longer afford. 

 

Tjames09 wrote:

Makes no sense. How did covid allow people MORe money to buy things lol? How is a 40-50k boat all of a sudden now in people’s budget. 
 

 

[Gravyboat]

I have a 2015 Lund SSV16 with a 30Etec. I bought it new in 2016 for $11,200.  I see those boats now are around $14-16k new with 30-40hp. 

I got a new boat coming and could probably sell the SSV for 10k.  The Lund dealer told me he's trying to order new Lunds in but they won't arrive until July. 

 

[AKRISONER]

a dealer on the bass boat central forums just posted that in an average year he acquires approximately 40 used boats during the winterization period that people get rid of for one reason or another. 

He said that this year he only has 7 used boats to sell for next year....ouch