Wow talk about a seller's Market!

Just For Fun said:
My gut feeling is that once the cruise lines and flyaway vacation market pick up (shortly after N. 3rd) we will see a deluge of For Sale signs going up on these RV and boats and motorsport toys. Why? Those who may never have had these toys will realize (or the Significant Other will) that this is NOT what they thought it would be or that they can't do both the toys and the cruise/fly-away vacation at the same time.

Time will tell.
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I marine finance guy I know told me he was financing lots of boats for 1st time owners. One story stuck out to him about people rushing to buy boats.

He financed a 35 ft. Formula for a guy who was a first time boat owner. After closing he asked the new owner - so, you have some boating lessons lined up, right? "Nope, I don't need them." On the first trip, with his family, the owner decided to head to Fire Island. In some heavy wind. Upon arrival he had a lots of trouble docking and did the typical new boater trick of adding more power. He basically pinballed around the dock smashing into boats, and doing a lot of damage to his boat with lots of gouges on the sides. The boat was put up for sale right after that.

I have no way of knowing, but my guess is the boat was the idea of an overconfident tough guy, and after the crash his wife wanted nothing to do with it.
 
b_arrington said:
I marine finance guy I know told me he was financing lots of boats for 1st time owners. One story stuck out to him about people rushing to buy boats.

He financed a 35 ft. Formula for a guy who was a first time boat owner. After closing he asked the new owner - so, you have some boating lessons lined up, right? "Nope, I don't need them." On the first trip, with his family, the owner decided to head to Fire Island. In some heavy wind. Upon arrival he had a lots of trouble docking and did the typical new boater trick of adding more power. He basically pinballed around the dock smashing into boats, and doing a lot of damage to his boat with lots of gouges on the sides. The boat was put up for sale right after that.

I have no way of knowing, but my guess is the boat was the idea of an overconfident tough guy, and after the crash his wife wanted nothing to do with it.
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IIRC, I think this incident happened at Atlantique one weekend we were there. It was not pretty.
 
b_arrington said:
I recently got a call from my broker asking if I wanted to sell my Back Cove. They sold another one in 2 days for full asking price, and the other one listed on LI was in contract.

Unfortunately for him, I was in process of closing a private sale. I sold it for very close to what I paid for it new.

Now that I'm in the market again, the speed at which boats are selling stinks. An example of the model I'm considering one that came on Yachtworld was in contract within a week. It was well equipped and priced well.
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Fear not Brad - when all of this settles down and payments are being missed there will be plenty of great boats hitting the market at budget prices just in time for next summer.
Tom
 
ttmott said:
Fear not Brad - when all of this settles down and payments are being missed there will be plenty of great boats hitting the market at budget prices just in time for next summer.
Tom
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That's actually what I'm counting on Tom, I doubt my wife will be so patient though if a boat in our bracket pops locally, she will likely insist we snap it up regardless of bubble pricing:(
 
Yeah, if you watch around the marinas you quickly notice more newbies. I think people are using debt more and taking advantage of low borrowing costs. Also, anything that looks like a tangible asset is more desirable than holding cash. Then there's the easy fantasy of the boating life. I'm buying a boat from an older couple who had no experience or training. Now the wife is terrified of even stepping onto the boat. Good deals are still out there and likely lots more are coming up.
 
ttmott said:
Fear not Brad - when all of this settles down and payments are being missed there will be plenty of great boats hitting the market at budget prices just in time for next summer.
Tom
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While I'll NEVER wish bad on others, we're in a boat-buying holding pattern anticipating this throughout the country. Hording CASH-IN-THE-BANK until then.
 
Just For Fun said:
While I'll NEVER wish bad on others, we're in a boat-buying holding pattern anticipating this throughout the country. Hording CASH-IN-THE-BANK until then.
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We’re doing the same thing in terms of banking cash. I’m looking, but sort of hoping nothing perfect comes up so we have the winter to just bank cash.

My biggest issue is while looking mainly at the used market, my wife recently said she’d really prefer a new boat ordered from the factory if we can do it.

This is what we’re looking for.

upload_2020-10-2_17-59-41.jpeg
 
b_arrington said:
Nope. Getting the same model either way.
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I meant financially.

Unless your budgeting for a newer boat, buying NEW could be expensive. Speaking for myself only. I'll only pay cash for my toys. NO MORE PAYMENTS!!!!!!!!!!!!!!
 
Lots of folks purchased boats during this bubble. I’ll be there w cash when it pops. :D
 
Just For Fun said:
I meant financially.

Unless your budgeting for a newer boat, buying NEW could be expensive. Speaking for myself only. I'll only pay cash for my toys. NO MORE PAYMENTS!!!!!!!!!!!!!!
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Yes, new boats are expensive. I don’t have payments for anything else so I can afford a toy payment. I decided I’d rather have a liability on a toy instead of in my residence. Plus my market investments deliver greater return than the loan interest. I stay ahead with a loan vs liquidating investments.
 
ttmott said:
Fear not Brad - when all of this settles down and payments are being missed there will be plenty of great boats hitting the market at budget prices just in time for next summer.
Tom
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A broker brother in law who was eventually acquired by MarineMax spent 10 years selling boats to people, and then the next 10 years working with the Repo man taking them back. That's how I got Beach House. I was the repo captain on many a venture.
 
370Dancer said:
A broker brother in law who was eventually acquired by MarineMax spent 10 years selling boats to people, and then the next 10 years working with the Repo man taking them back. That's how I got Beach House. I was the repo captain on many a venture.
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No. That’s not exactly how it works. It makes for good dinner conversation though....LOL....
 
RollerCoastr said:
Are you set on this, or would you be open to a discussion about the 53’s?
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My mind is wide open to discussion. We like the accommodations and styling of the Carver 53 but I'm all ears in getting any info especially from folks with first hand knowledge about the boat. As usual when you talk to Carver folks, they think their boats are the best made, trouble free bots ever made. Talk to a Searay owner and Carvers are junk. We are still in the discovery mode for sure. We also like the later Navigators, Compass, Symbols. One thing I find interesting in terms of pricing is the relatively high value of Bayliners of the same size and vintage. I was always under the impression that they were lower budget boats. We don't actually like the interior materials much so they are not on the radar for us.
Carpe Diem
 
Carpediem44DB said:
My mind is wide open to discussion. We like the accommodations and styling of the Carver 53 but I'm all ears in getting any info especially from folks with first hand knowledge about the boat. As usual when you talk to Carver folks, they think their boats are the best made, trouble free bots ever made. Talk to a Searay owner and Carvers are junk. We are still in the discovery mode for sure. We also like the later Navigators, Compass, Symbols. One thing I find interesting in terms of pricing is the relatively high value of Bayliners of the same size and vintage. I was always under the impression that they were lower budget boats. We don't actually like the interior materials much so they are not on the radar for us.
Carpe Diem
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The large Bayliners (later Meridian) are not anything like the small Bayliners. Thus why they hold their value.

I had an ‘86 4550 pilothouse that was outstanding.

Can’t help on the Carvers. I once owned a ‘85 3670 Carver, and wasn’t impressed at all. The larger and newer Carvers are a different boat.
 
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