Used boat market is sucking wind.

[truckermatt]

Re: Used boat market is sucking wind.

I agree that financing sometimes is foolish.. but sometimes is a risk that youy CHOOSE to take..

I financed my boat... Cost was 5000 and a 3 year term... and on first payment i put 3000 towards it, and i will be paid for by june..

Only will cost 250 in interest when done.

I did it because i liked the boat but didnt have ALL the money needed... Call me a loser or irresponsible. i dont care, i can boat the same places you do and know one seems to care that part of my boat is financed.

 

[270win]

Re: Used boat market is sucking wind.

I agree that financing sometimes is foolish.. but sometimes is a risk that youy CHOOSE to take..

I financed my boat... Cost was 5000 and a 3 year term... and on first payment i put 3000 towards it, and i will be paid for by june..

Only will cost 250 in interest when done.

I did it because i liked the boat but didnt have ALL the money needed... Call me a loser or irresponsible. i dont care, i can boat the same places you do and know one seems to care that part of my boat is financed.

Wow, I hope that's not the message I'm sending...I'm just sharing how I purchase things.

I don't go into debt. Especially for toys. But, I don't look at your example as bad debt, you owe $2K on a boat that is worth more in almost any market. What I can't see is owing $100K on a 4 year old boat that can bought for 1/2 that in this market...

 

[reelfishin]

Re: Used boat market is sucking wind.

......................
Overall, things are a lot more expensive in Canada. We get a lot of US TV channels up here, and we also travel to the US. So we see your low prices on all kinds of things. Prices like turkey at 29 cents a pound, eggs for a buck or less a dozen, cheap milk, and beer at 50 cents a can seem unbelievable to Canadians. Most brands of Canadian beer in Canada cost $20 or more a dozen, depending on the brand. (Except in Alberta where one can buy a can of cheaper brands for a buck.) Up here marketing boards and governments keep the prices of things high. How do American farmers survive with those kinds of prices for their products? Maybe the US taxpayer subsidizes the farmers, and thereby the cost of food, a lot more than up here.

Where are you traveling to in the US to see those prices?
I just paid $2.19 for a dozen large eggs, a whole frozen turkey was $2.49/lb, (it was on sale back around the holidays for $.99/lb.), and the cheapest case of can beer here is $14.99 for the cheapest swill you can find. I paid $22 for Yuengling which is about middle of the road price wise. Are beer is taxed here as well. About a year ago, the state raised the beer tax a nickle a gallon, in turn beer went up $1 per case. They raised it only a few cents last year and it went up a dollar then too. Gone are the days of $6.99 cases of can beer. The cheapest beer that can be had is probably Keystone Light or Pabst in 12 oz. cans. Some times you can find Pabst in a 30pack for $15. Bud, Coors, Miller, etc are all in the $19 range, with imports being even higher.

 

[skargo]

Re: Used boat market is sucking wind.

Where are you traveling to in the US to see those prices?
I just paid $2.19 for a dozen large eggs, a whole frozen turkey was $2.49/lb, (it was on sale back around the holidays for $.99/lb.), and the cheapest case of can beer here is $14.99 for the cheapest swill you can find. I paid $22 for Yuengling which is about middle of the road price wise. Are beer is taxed here as well. About a year ago, the state raised the beer tax a nickle a gallon, in turn beer went up $1 per case. They raised it only a few cents last year and it went up a dollar then too. Gone are the days of $6.99 cases of can beer. The cheapest beer that can be had is probably Keystone Light or Pabst in 12 oz. cans. Some times you can find Pabst in a 30pack for $15. Bud, Coors, Miller, etc are all in the $19 range, with imports being even higher.

I'm thinking the last time he visited the USA was in 1950 with those prices!

 

[joe_nj]

Re: Used boat market is sucking wind.

I've just gotten into boats so I don't have much experience with them but I have a lot of experience with used cars. I bought my boat last year on Craigslist for about 1/3 NADA but it needed work. (What I paid was 1/4 of what the owner paid for 2 years storage to get it out of the marina so I could buy it.) Before that, I made an offer on another boat from a used boat dealer about 25% below NADA low value and he wanted to accept it but I didn't buy it because it wouldn't let me sea test it first. He got mad because I wanted him to put it in the (cold) water.

My family used to be in the car business in a large dealership and they used NADA to price cars but usually paid under the NADA trade-in value when they could then sold a little above the NADA retail value if they could. I would think that boat dealers do about the same. I've never bought anything from a dealer, neither boat nor car since our family got out of the business. I get better deals from private parties and its easier to tell if they're telling the truth.

I have a cobalt. A guy on the cobalt website is begging someone to make him an offer. His asking price is double NADA. No wonder he can't sell it.

With your talk, you're tempting me to consider moving up to a bigger but I've only had the boat I just bought in the water once. My wife will kill me - but it might still be worth it.

I'm interested in getting started in the boat refurbishing business too. Do you have any tips for me? Meanwhile, I'm going to go look for some of these buys you mentioned.

 

[jonesg]

Re: Used boat market is sucking wind.

I find it interesting that a number of those complaining about the unrealistic prices are those looking to buy boats for profit. Obviously the shoe will be on the other foot when it comes time to sell the ?over priced? boat.

That was obvious in the opening post.
Frustration over peoples asking prices, lack of decent photos.
I have all the same thoughts when looking at craigslist myself.
Although I'm not looking to flip what I buy.
Sometimes I just take a look in the mirror and have a good laugh at myself. Ok back to bitchin.

 

[gss036]

Re: Used boat market is sucking wind.

The new boat sales are not much better. I read yesterday that the Everett and Tacoma WA boat shows have both been canceled this year. Article said they were hoping the Seattle Boat Show at the end of January would pick up the slack.

Reading the above articles on prices is interesting, but the lesson there is for one to realize how much our stores are marking up the prices now. Used to be 30-40 % was used for mark-up, now it is more like 200-400 %. How do you think auto dealers can give you $7000 off on the new truck or car.

 

[Mark42]

Re: Used boat market is sucking wind.

Regarding the OP comment about NADA pricing, when I bought the 1985 Bayliner Cuddy, the insurance company only wanted to insure it for the NADA value. I paid more than that, and when I produced two other identical year/model boats for sale on the internet for nearly double what I paid (both at boat dealers), and in much worse condition, they insured the boat for my claimed value with no further need for proof of value.

NADA is just a reference. The actual value of the boat/car is really dependent on the public's perceived value of that specific year/make/model.