Boat prices coming down? looks like it.

Boat market varies on geography. In Florida boating is year round so not as seasonal as in Midwest.

I stole my boat last winter. Drove from Florida to Wisconsin this spring to tow her down.

New boat purchases will slow w interest rates climbing. This will increase inventory and thus soften prices.

Supply n demand + cost of money.
 
One thing that I have noticed, the boat dealer's showrooms are not full of inventory to sell. New and or used. Like years past you could trade your boat in on one in inventory. Everything seems to be transactional, some brokers show they have 10 to 20 listings and when you call on them they are under contract or pending. IMO Prices should remain stable (not off the charts) through 2023/2024. Most new boats are not even produced until there are potential buyers. Gone are the days of dealers ordering 3-5 of every new model and carrying millions of dollars of inventory so people can walk around and browse.
3 Great Lakes Area brokers that I have spoken to in the last month tell me the last 10-12 closings they have had were pocket listings that they had 2 or 3 buyers for before it ever hit the market as a live listing. When the marinas are emptying out and slips are not getting filled, I would start to worry about where the boating world is heading. I read a report that the average owner's age of a vessel over 30 feet is 50 years old. If that holds true, people in that age group tend to be more financially stable, soon-to-be empty-nesters, and not dumping their boats because they are scared and creating a fire sale causing the prices and values to plummet..... Once again, just my opinion. Happy and safe boating.
 
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I just listed my boat for sale last week and find there are a ton more of these models on the market now, than there were when I purchased it last year, although not much in the tri-state/area here in the North East.
As a boater in this area for nearly 40-years, I typically see an increase in inventory at the end of the season because it's a good time to transition into a different boat, or out of boating before incurring winter lay up expenses. This year, I believe the cost of fuel and the uncertainty in the economy is also a big driver in the inventory increase.
We love the 44DA, but now want our next boat to be a coupe with a galley up and one that has a hydraulic platform.
 
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Seems like a lot of people are saying if I can sell. I will. And then find what I want - assuming the market is going to be down for a bit. Supply chain is a mess. I just got my Garmin VHF I ordered in February. I am a cyclist and the bike market is crazy as well. Frame prices are up - but components are through the roof.
 
I am not seeing a change in the Virginia/MD area. Made a broker friend while looking for the 380DA, bought it in March, says I can sell it for same or more now.
 
It is still a sellers market. As for a buyers market good clean boats in the 34 to 50 range are still hard to find on the west coast. Not much inventory at all.
 
Captsteve427 said:
I just listed my boat for sale last week and find there are a ton more of these models on the market now, than there were when I purchased it last year, although not much in the tri-state/area here in the North East.
As a boater in this area for nearly 40-years, I typically see an increase in inventory at the end of the season because it's a good time to transition into a different boat, or out of boating before incurring winter lay up expenses. This year, I believe the cost of fuel and the uncertainty in the economy is also a big driver in the inventory increase.
We love the 44DA, but now want our next boat to be a coupe with a galley up and one that has a hydraulic platform.
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What sort of interest are you seeing in your listing?
 
I received a couple of calls, but just people fishing for a deal. I'm higher in price due to the engine work and the amount of upgrades that I've invested in the boat since purchased. I agree with Joint Custody, who said that there's still a market for good clean boats like mine in the 34'-50' range and especially if they're v-powered. We'll see.
 
Captsteve427 said:
I received a couple of calls, but just people fishing for a deal. I'm higher in price due to the engine work and the amount of upgrades that I've invested in the boat since purchased. I agree with Joint Custody, who said that there's still a market for good clean boats like mine in the 34'-50' range and especially if they're v-powered. We'll see.
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Good luck with it.
 
I know of two big boats that sold this weekend without even hitting the market and were sold to friends. Fresh water boats are still selling for a premium. Albeit not stupid stupid pricing like in spring…. Just stupid pricing….. well above what they are worth….. I am not sure …but I don’t think that means the market is softening
 
The guy a bought from priced his right and was willing to negotiate for the quick sale. He had brokers telling him to ask a lot more. Well those boats are sitting at their “stupid” prices. His is sold and he bot his new one.
 
A friend of mine just sold his 2002 340 cruser inc fresh water for $110k to the first person that looked at it... no survey and a gen that didn't run. It had lots of upgrades however I wouldnt of thought he would get it sold at that price.
What is crazy usually a boat is really only worth what the bank will loan for it and then maybe the buyer brings 10k to 20k on top of the loan for a super clean boat. In this case the buyer had to bring 50k on top of what the bank would loan.

Now that is crazy!
 
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I originally priced mine 10k more than I wanted to (based on advice from friends). After two weeks of limited interest, I dropped it 10k and it was under contract in a week.

He said he saw it at the original price but didn't consider it until I dropped it...
 
If your going to sell, sell it now. If your going to buy, next year will be a better buying opportunity. Of course if you find the perfect for you boat, then buy it. Everything is all relative unless you are getting out of boating all together.
 
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