The used boat market

El Capitan said:
What’s going on? What did I miss?
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LOL - you might have missed everything ...

maybe you have heared that mass tourism , cruise holidays etc. this year are a bit more complicated than usual ? this results people concentrate on individual holidays and so no cheap lunch in purchasing a boat or o a motorhome these days .

btw and no personal intention : i still have to laugh about the village idiot vs tinfoil hat comment on another thread ;-))))
 
yobub said:
In my email today:
There is a Boat Buying Frenzy" - https://boattest.com/article/boat-buying-frenzy
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Very interesting. The question then is this a temporary bubble or a longer term change?
Why, w such high unemployment would people go out and make such a major spending decision considering how most finance long term notes for a good boat?
Does this foretell a future glut of inventory from all the new boaters that didn’t realize... well, the realities of owning a boat?

Im fascinated by this stuff.
 
El Capitan said:
Very interesting. The question then is this a temporary bubble or a longer term change?
Why, w such high unemployment would people go out and make such a major spending decision considering how most finance long term notes for a good boat?
Does this foretell a future glut of inventory from all the new boaters that didn’t realize... well, the realities of owning a boat?

Im fascinated by this stuff.
Click to expand...

I think it may be a bubble.
Right now, a lot of unemployed people are collecting money for sitting home and not realizing the gravy train will eventually derail.
The effects of the high unemployment haven’t been fully realized yet. It won’t be long before the $600.00 federal unemployment supplement runs out, along with state benefits, and the impact of a lot of small business not coming back are felt.
 
El Capitan said:
Very interesting. The question then is this a temporary bubble or a longer term change?
Why, w such high unemployment would people go out and make such a major spending decision considering how most finance long term notes for a good boat?
Does this foretell a future glut of inventory from all the new boaters that didn’t realize... well, the realities of owning a boat?

Im fascinated by this stuff.
Click to expand...

I'm calling bubble...
Led by locations that don't have a year round season.
 
Well now after seeing the leading economic indicators out this morning I’m not sure this is a bubble.

We’re now in early V-shaped rebound with jobs added across construction, retail, leisure and travel including hotels.

2.5M new jobs added. The Market surging 650 points in Industrials.

If the White House can get a payroll tax cut through it’ll be like hitting the nitrous jets to the economy.

Im glad I stayed in the market. There was another thread where many posters were bailing which was a big mistake.

The big news? “...it’s the economy stupid...”.

Although many of the 2.5M jobs gained are returners, it was nowhere near the trend the experts were expecting.

I rarely listen to polls or economists. I observe what’s happening on the street.

People are spending.
 
Not arguing re this mornings numbers. though they, like always, are subject to interpretation and revisions.
There is pent up discretionary spending for many. Here in the northeast, for example, there have been a lot of cancelled vacations and cancelled summer camp for children leaving them with money to spend and nothing to do.

I suggest that many will be buying that boat and will look to get out at end of season, with the view that the money lost on the purchase was same +/- of going on that vacation and sending the kids to camp.

Just one mans opinion.... not right nor wrong.
 
El Capitan said:
Well now after seeing the leading economic indicators out this morning I’m not sure this is a bubble.

We’re now in early V-shaped rebound with jobs added across construction, retail, leisure and travel including hotels.

2.5M new jobs added. The Market surging 650 points in Industrials.

If the White House can get a payroll tax cut through it’ll be like hitting the nitrous jets to the economy.

Im glad I stayed in the market. There was another thread where many posters were bailing which was a big mistake.

The big news? “...it’s the economy stupid...”.

Although many of the 2.5M jobs gained are returners, it was nowhere near the trend the experts were expecting.

I rarely listen to polls or economists. I observe what’s happening on the street.

People are spending.
Click to expand...
They were predicting 8m jobs loss and 19.8% unemployment for May. How the hell can these economist be so far off. Is this situation that unique to them. I feel like we’re about to take off and these cities that are slow walking their opening are gonna miss out
 
Boats are not alone here RV’s sales and mostly rentals are skyrocketing also. We heard from a realtor that suburban homes are expected to sell like crazy 2020/21
As people look to escape the city and gain some space. May be a good time to liquidate your home,boat etc and make that move to early retirement if you planned on it in the next 1-2 years. You just might get what you want for them.
 
Great Lakes said:
They were predicting 8m jobs loss and 19.8% unemployment for May. How the hell can these economist be so far off. Is this situation that unique to them. I feel like we’re about to take off and these cities that are slow walking their opening are gonna miss out
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The BLS is assuming +345K jobs return from businesses births (not seasonally adjusted) vs. the -553K last month. This seems like a pretty optimistic narrative. It could certainly be that the BLS is underestimating the degree of business destruction in real time.
 
they forced folks on the water, people went boating some for the 1st time and they were hooked..its a good thing as long as the accidents and poor seamanship stay to a minimum
 
Looks like I might of got lucky. I bought my first boat last month. It was sitting on the lot starting at the end of Feb. I wound up buying it at the first part of May for under low Blue Book from a dealer. It was a used boat. I live in the greater Seattle area.
 
In many areas of the country boating is one of the few recreational activities that is allowed. Theaters, concerts, restaurants, and amusement parks are all closed. People need to do something to maintain their own mental health, especially if they have small children at home. Since boating is allowed, people are boating. It will be interesting to see how many stay with boating once the other things open up.
 
El Capitan said:
Well now after seeing the leading economic indicators out this morning I’m not sure this is a bubble.

We’re now in early V-shaped rebound with jobs added across construction, retail, leisure and travel including hotels.

2.5M new jobs added. The Market surging 650 points in Industrials.

If the White House can get a payroll tax cut through it’ll be like hitting the nitrous jets to the economy.

Im glad I stayed in the market. There was another thread where many posters were bailing which was a big mistake.

The big news? “...it’s the economy stupid...”.

Although many of the 2.5M jobs gained are returners, it was nowhere near the trend the experts were expecting.

I rarely listen to polls or economists. I observe what’s happening on the street.

People are spending.
Click to expand...

As of Friday’s close, I’m actually up for the year.
 
spikedaddy99 said:
Kids have no summer sports, families can't vacation, so people are buying boats to have family time.
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Almost word for word what I got from the guy I sold my Cobalt runabout to on Wednesday.

I got full asking price from the first looker and put it up for a strong price too. It’s a seller’s market.
 
So what are we looking like in 2021. Seems like everything I inquire on has a sale pending. I am beyond confused -- at some point the chit has to hit the fan, no?
 
Golfman25 said:
So what are we looking like in 2021. Seems like everything I inquire on has a sale pending. I am beyond confused -- at some point the chit has to hit the fan, no?
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Well you remember what Obama did to the recreation industry, RVs, boats, and travel in general. He destroyed it. How can you have lockdowns, continued rent & mortgage freezes, increased fuel prices, and business regulations re-added and not see an upcoming disaster for the economy?
 
So one of my boating buddies had a really nice 1991 310DA. He and his wife want to move up to a 1999 to 2002 340 and after seeing boats selling so quickly he decided to list his boat with the idea of shopping between last fall and spring. He sold almost immediately. He has been looking since then. Prices are really high and people are holding firm, even in the dead of winter. Hopefully once COVID is under control prices will normalize, but I think the fact that the new cruiser market is so insanely over priced will hold the used market high for a while. There is no way a new sub 40 ft boat is "worth" more than a decent nice house on the water in Florida.
 
Creekwood said:
So one of my boating buddies had a really nice 1991 310DA. He and his wife want to move up to a 1999 to 2002 340 and after seeing boats selling so quickly he decided to list his boat with the idea of shopping between last fall and spring. He sold almost immediately. He has been looking since then. Prices are really high and people are holding firm, even in the dead of winter. Hopefully once COVID is under control prices will normalize, but I think the fact that the new cruiser market is so insanely over priced will hold the used market high for a while. There is no way a new sub 40 ft boat is "worth" more than a decent nice house on the water in Florida.
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Agreed, no way I payin 200k for a bow rider with outboards, which seems to be the only style they offering. Any well maintained used boats will sell fast and high and don’t see that changing.
 
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El Capitan said:
If the White House can get a payroll tax cut through it’ll be like hitting the nitrous jets to the economy.
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ROFLMAO!!!

That brain dead idiot that got “elected” is not capable of comprehending a tax CUT.

I know in the past I’ve seen speculation about you being a troll, but damn what a way to confirm it.
 
TimW said:
ROFLMAO!!!

That brain dead idiot that got “elected” is not capable of comprehending a tax CUT.

I know in the past I’ve seen speculation about you being a troll, but damn what a way to confirm it.
Click to expand...

Damn, been holding that in for 8 months??
 
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