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Are used boat prices falling back to normal?


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22 hours ago, porkpie said:

I think they are starting to dip.  I’ve had my eye on a particular model of Starcraft tiller boat, and I saw my first dealer reduction in pricing on an in stock new boat today.  I’ve also noticed Corona boats aren’t selling and I’ve marked a number of rigs on kijiji and almost all of them have had price reductions unless they where a smoking deal already. Facts are facts, and people are starting to notice they have less disposable income, and rates rising means a lot of people are less inclined to slap a boat on their HELOC or other credit vehicle.  I wouldn’t either, as a matter of fact if I had any debt other than a mortgage or car payment I’d be looking to clean it up ASAP. There is an air of hesitation from a lot of people, many wondering what their finances will look like in the next couple of years.  

Bang on. FED teasing 0.75% rate hikes... inflation STILL persisting. Housing market will flip within 2 years, toys even faster. Every producer on the planet is making efforts to crank production 110%... the pendulum is bound to swing eventually.

Revisit this thread in 1-3 years, I bet we'll be in the following situation:

  1. High interest rates. 
  2. Housing market down ~15-25%, owners stuck in sky-high mortgages.
  3. Used boats flooding the market.
  4. Raw material glut, supply chain issues resolved, new builds also flooding the market.

Wouldn't buy ANY toys now, and in fact would consider selling my house if I didn't have hatchlings under its roof.

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Things aren't as bad as they seem:

Today it takes the average Canadian worker 4 minutes to earn enough to buy a litre of gas. 30 years ago it took 5 minutes. 

Immigration is set to average 250,000 annually over the next 5 years. We can't build new housing fast enough to keep up. Supply and demand will keep the price of housing high. 

Productivity has been increasing at an average of 4 % a year due to technology...we're working smarter. The average Canadian family has 30 % more disposable income than they did 30 years ago. Hence, all the households with multiple cars and high priced toys (boats,  ATV's, snow machines, etc). Vacation travel has also tripled in 30 years. There aren't many families now that can't afford a yearly winter vacation to Cuba.

As Mr. Ritchie stated there's an unprecedented amount of generational wealth to be transferred in the next 20 years.

Stocks are on sale right now...great time to buy.

Edited by CrowMan
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Mortgage rates will continue to rise until inflation slows, by then we will likely be in a full blown recession.. toy prices will go down but if it was bought new during the pandemic then it may not go down as much as they should unless the seller is desperate. I think the best value will be the ones that are around 10 years old.. 

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1 hour ago, CrowMan said:

That may be what the US press is saying, but I’ve been closely watching our local markets for months now as I’m interested in a specific boat and there is a noticeable trend in price reductions, including a couple of quite recent dealer reductions.  Things aren’t all rosy.  I am quite certain that once I’ve bought what I want, I will be getting considerably less for my used boat than I would have last year.  I’m also pretty certain I’m going to pay less for the one I want so as usual things work out.  Your mileage may vary, but in my small town, houses aren’t selling overnight anymore and prices are dropping on luxury items.  Some of us saw it coming, and some are still in denial!

Edited by porkpie
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I have been watching used boats (specifically 16 foot tillers) for about 3 years now via Facebook and kijiji alerts.  I am in the it’s mixed group.   Some fair to good deals out there but also a lot of over priced models as well.  Part of it I’m sure is listings are free or very cheap.  Put it up for what you paid and see what happens.  I also think that sooner rather than later it will fully correct.  At some point supply will outpace demand and prices will need to get cut. 
Sidebar I am always amazed at how many boats are sold under power.   My gut says 60% of the boats I see listed are under the max.   Assuming it’s is or was to keep price point at a certain spot
cheers

Andrew 

Edited by gordy28
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A friend of mine imports boats from the USA. He still gets great deals on used boats he buys in the southern US but shipping them to Canada has gone from $700 to $2000. He always has to recondition the boats he sells and not only is that more expensive it's also unbelievably time consuming. Marine mechanics and all of the people that can actually do reconditioning are rare  skilled tradesmen and if qualified to do the work properly, they are booked to the max. As has  always been the case boats are a hole to pour money into. That said my neighbor's in laws just won two salmon derbies and gleaned  aprox $9k worth of prizes. That would make going out worth it. Another interesting tidbit for salmon anglers. A guy i know has been having success jigging salmon at the Niagara Bar. I know mooching was at one time common in BC but I have never seen guys doing it with success here.

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4 hours ago, Dara said:

Hey Drifter, hows things

Never mind the price but 300 on an 20' aluminum doesn't seem right.

Is he scared to run it more than 34 hours.

Thats prop tips to east arm

Maybe it's repowered? Wonder what kind of top end he gets 

 

Edit: I checked and that Lund is rated for it (figured as much since it's at the dealer)

Edited by Sterling
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10 minutes ago, Sterling said:

Maybe it's repowered? Wonder what kind of top end he gets 

 

Edit: I checked and that Lund is rated for it (figured as much since it's at the dealer)

Guys are running 400’s on 21 foot boats. That whole “max horsepower” rating thing is basically out the window these days. You can effectively strap whatever the hell you want onto big boats now.

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1 hour ago, Dara said:

A friend had a Lund 219 glass boat with a 250 Verado on it. Had plenty of power and hit 57 mph.

I can't imagine how an aluminum with a 300 would dangle

they actually kind of reach the top of the curve, those hulls can only go so quick. Hole shot gets better, but not different than with bassboats how a ranger with a 250 will only do 70's while a gambler will approach do in the 80's and a bullet will get close to 100.

ive driven a boat 70 now...ive been in a boat that did 74...its fast enough. The idea of driving one of those big hulls into the high 60's terrifies me, they arent designed for stability at really high speeds.

Edited by AKRISONER
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9 hours ago, AKRISONER said:

they actually kind of reach the top of the curve, those hulls can only go so quick. Hole shot gets better, but not different than with bassboats how a ranger with a 250 will only do 70's while a gambler will approach do in the 80's and a bullet will get close to 100.

ive driven a boat 70 now...ive been in a boat that did 74...its fast enough. The idea of driving one of those big hulls into the high 60's terrifies me, they arent designed for stability at really high speeds.

I run my sled about 60-80 and burp to a tad over 100 and feel comfortable but yeah, over 60 in a boat, yikes.

Oh well, I wish the seller luck, and the buyer.

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