used boat prices

[sweeney]

Seems like used boat prices are falling in line with ammo. I can't believe all the 20+ year old glass boats that guys are asking over 20K for, granted most of them don't seem to be selling. The dealers aren't far behind, no real discounts on any holdovers, due to inventory shortages i guess. If there is something decent it is gone within hours or it is literally thousands of miles away from here. The only decent deals seem to be on boats with 700+ hours or they have evinrudes on them.:;:smokin

 

[FlatTopPete]

I agree. I sold my boat in May of 2020 thinking I would easily be able to find an upgrade in my price range. Nope.

Everything seems to have taken a giant jump in price and if you find something you like you better be there with cash in hand or it’s gone a day or two later.

I mean 2-5 year old used 20’ glass boats are bringing well over $55k and that’s with a couple hundred hours on them. Or more.

Who the hell can afford a boat in the $60-90k range?! Disclaimer: I’m old school Dave Ramsey- if you can’t pay cash for it you can’t afford it.

 

[SLE]

Well boys, that's a combination of high demand and ridiculous inflation. And as long our treasury department keeps printing money like drunken sailors and giving it away for free with interest basically at 0% outa the federal reserve, it's not gonna get any better. Unfortunately, sticking to the Ramsey's cash idea isn't quite as stellar when the you can borrow for almost nothing an pull in 8-12% in the market without even trying. Hence the inflation flying through the roof. Lots of factors, but the reason those 20 year old boats are $20k is because the new ones are $120k. Its all relative. There are lots of guys that bought new boats, ran them for 3-5 years and were able to sell them close to what they paid new, I'm one of those guys. However, the flip side of that was that same boat to buy new had increased $20k over that 3-5 year period. At the end of the day, your gonna pay to play no matter, so pick the poison that fits your budget!

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Just for reference, from personal experience, I get a new truck about every 5 years and every time I do it, the new one ends up being about $10k more than the last one and that's buying the same brand, style, and trim level each time. That's averaging about 4% inflation year over year. With that said, each one has had more standard features than the last and each one has gotten increasingly nicer.

One side note however is I would honestly wager that a new 2021 F150 XLT with a leather upgrade is nicer than a 2011 F150 Lariat. This is just the same as my new Lariat having more features and being nicer than the higher trim Limited's, King Ranch's, and Platinum's of 5 years ago. If you take that into account, and actually stuck with option for option equivalents, I'd be willing to bet you could get the inflation down closer to 2%. boats are the same thing. 20 years ago, a 20 footer with a 225 was king of the water. now it takes 22ft, 10k worth of electronics and 400hp to claim the same title. food for thought.

 

[Allen]

Let's remember, those 2-3 yr old 20 ft glass boats were $75-90k new. Hell, they're above $100k nowadays.

That being said, I too would like a new floater (at least, new to me). I've had my 2004 Fisherman with the Yamaha 115 4S since 2006, and while it's been a GREAT boat/motor combo, the itch has been there for a couple years. Right up until I see the sticker price on new and realize I STILL have a great boat.

Pretty sure it would cost me a lot less to have to eventually replace the transom (no sign of issues yet though) and the motor.

 

[Bfishn]

Yeah its ridiculous, but with new boat prices continuing to rise it just props up the used boat prices more and more. Rather than buy a new boat, use it as an excuse to just update all your electronics. Makes an older boat feel new

 

[701FishSlayer]

You should see what some of the used boats on Facebook are selling for. Astronomical prices on boats all the way 20 years old. Look up walleye boats for sale. Not much has changed basically in the newer rig of mine other than a 10k+ jump for a new 1. Barf.

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On the up and up, if you're in the market and looking to trade, I'm guessing now is the time to get max value as long as you don't let em steal it.

 

[628977]

At this rate I should be able to sell my 2018 in 8 years for the same price I payed for it.

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I agree. I sold my boat in May of 2020 thinking I would easily be able to find an upgrade in my price range. Nope.

Everything seems to have taken a giant jump in price and if you find something you like you better be there with cash in hand or it’s gone a day or two later.

I mean 2-5 year old used 20’ glass boats are bringing well over $55k and that’s with a couple hundred hours on them. Or more.

Who the hell can afford a boat in the $60-90k range?! Disclaimer: I’m old school Dave Ramsey- if you can’t pay cash for it you can’t afford it.

Your right about everything but Dave Ramsey. His plan is to live off scraps, invest, and save for retirement. Not everyone lives to be that old. Even if you do get to retirement age you just gave up your youth by living by his philosophy.

 

[Migrator Man]

Seems like used boat prices are falling in line with ammo. I can't believe all the 20+ year old glass boats that guys are asking over 20K for, granted most of them don't seem to be selling. The dealers aren't far behind, no real discounts on any holdovers, due to inventory shortages i guess. If there is something decent it is gone within hours or it is literally thousands of miles away from here. The only decent deals seem to be on boats with 700+ hours or they have evinrudes on them.:;:smokin

People need to quit paying crazy prices for used boats and maybe the prices would come down. There is no reason a depreciating asset like a boat should increase in value 5 years later.....

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Let's remember, those 2-3 yr old 20 ft glass boats were $75-90k new. Hell, they're above $100k nowadays.

That being said, I too would like a new floater (at least, new to me). I've had my 2004 Fisherman with the Yamaha 115 4S since 2006, and while it's been a GREAT boat/motor combo, the itch has been there for a couple years. Right up until I see the sticker price on new and realize I STILL have a great boat.

Pretty sure it would cost me a lot less to have to eventually replace the transom (no sign of issues yet though) and the motor.

Your boat is worth well over 20k so now may be the time to upgrade and cash in on these resale prices!

I cringe when I see Lund boats around 2000 age when they are going for close to or over 20k, if a transom issue comes up after buying one of those a guy is screwed. I guess that’s why they say Bust Out Another Thousand!

 

[sweeney]

I almost wonder if the prices are so inflated because they give out 10-20 year loans on boats and people only pay off 5-10K in principal in the first few years of the loan. So they need to get 75K for their 80K boat. I know i was dealing on a 2018 and the guy told me what he owed on it still, i couldn't believe it. I could buy a brand new 2021 for 4K more than he owed. There are definitely a lot of things that have drove boat prices up. Electronics can really add up, had a guy tell me he had 8K in graphs on his boat, only bad part about that is they are already 3-4 generations old and not worth 2500 anymore. Just got to pay to play or wait for the recession #$%^&>!

 

[duckman1302]

Unfortunately the prices aren't ridiculous as long as people keep paying it.

 

[ndlongshot]

You should see what some of the used boats on Facebook are selling for. Astronomical prices on boats all the way 20 years old. Look up walleye boats for sale. Not much has changed basically in the newer rig of mine other than a 10k+ jump for a new 1. Barf.

Best part is all the comments on outrageous priced boats. "Smoking deal!" Ha. gtfo. although makes me think I should list mine for sale???

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People need to quit paying crazy prices for used boats and maybe the prices would come down. There is no reason a depreciating asset like a boat should increase in value 5 years later.....

I guess they aren't depreciating anymore then, huh?! Time to invest in boats! "Hunnie, i swear, this is an investment in our family!"

 

[wjschmaltz]

Your right about everything but Dave Ramsey. His plan is to live off scraps, invest, and save for retirement. Not everyone lives to be that old. Even if you do get to retirement age you just gave up your youth by living by his philosophy.

That’s way off. His plan is to live off scraps for a few months to a few years and pay off all your debt which eliminates a significant amount of risk and uncertainty in life. He only suggests investing 10% after that. With no payments, you have A LOT of money leftover to live. We’re 34 and financially free to do whatever we wish with not a single payment. We get to do a couple “once in a lifetime” hunting and fishing trips a year because of his plan. I’ve just spent the last few weeks navigating an unspeakable tragedy and I’m so incredibly thankful we followed Dave Ramsey’s plan. Our lives are extremely uncertain right now, but I can’t imagine if we had to be forced back to work or be worried about money and vehicle/student loan payments. I can’t recommend it enough after seeing the “why” behind his plan truly play out.

 

[Bfishn]

I almost wonder if the prices are so inflated because they give out 10-20 year loans on boats

This combined with low interest rates have allowed these manufactures to raise prices while technically not raising monthly payments much. They know most people don't care about total cost, just the monthly payment. Rather than a 30k-50k boat for 5-10 years now its a 50k-100k boat for 15-20 years, and people fall for it hook, line, and sinker.

 

[Duckslayer100]

There's going to be a HUGE bubble burst with the recreational vehicle market when Rona hangover is over and people are back to work.

Then again, maybe they'll keep the market the way it is -- only supply a little bit to keep prices sky high.

I guess if people are stupid enough to pay six figures for something they can only use 3 months out of the year, more power to the manufacturers.

 

[SLE]

I guess if people are stupid enough to pay six figures for something they can only use 3 months out of the year, more power to the manufacturers.

I don't know where you fish but last time I checked my boat always hits the water in May, sometimes in April, and I usually fish till sometime in November. That's eight months when I count on my fingers, lol. If you want to nitpick, how about $60k+ for a snobear when in ND there's no guarantee you'll be able to use it more than a month!................................. or the 4 snowmobiles that never left my trailer at my house this year (we did make one trip outside of the state fwiw), lol. Or how about the guy that likes to go to Vegas and gamble, or just vacation throughout the country and or world, not gonna get any return on that investment! Oh yeh, none of these are investments and they're things that bring a person life experiences and self gratitude. I have more of those on the sleds and boat with my family and firends than almost any other thing we do together! Can't say I'd trade those experiences, smiles, and time for more money in the bank.........................to each their own

 

[tikkalover]

Sooooooo, what’s a 1991 17.7 Warrior with a 1991 75 hp tiller in good condition going for nowadays? ;:;popcorn Asking for a friend.

Or a better question is, what is someone willing to pay.

 

[3Roosters]

This combined with low interest rates have allowed these manufactures to raise prices while technically not raising monthly payments much. They know most people don't care about total cost, just the monthly payment. Rather than a 30k-50k boat for 5-10 years now its a 50k-100k boat for 15-20 years, and people fall for it hook, line, and sinker.

THIS times 10!! It just doesnt make much sense to take out a 10-15-20yr loan on a boat or camper or some other depreciating asset. It will take years to get above water on the loan.

 

[Rowdie]

I bought an 620 Ranger 2003 3 years ago this July. I got it paid off last year at this time. Paid $26500 for it with a kicker. I had to loan half of it, and pulled the trigger BECAUSE they hold their value so well.

 

[shorthairsrus]

its a buzz kill

 

[johnr]

I purchased my 2007 ProV in 2007, took a 4 year loan, had a trade for a down payment. I have had all my kids spend time fishing and tubing with it, Mrs johnr and I have spend many a day enjoying our lives together in this boat. If I would have waited until I could pay cash out right for it at that time, I would now just be buying a boat, and my family would have missed this excellent time in our lives.
I would never change a thing about the sometimes foolish way I have spent my money when it comes to these things.
Life is really short, in the blink of an eye I am already 10 years from retirement, enjoy your youth.
We could afford the payment, and still have bait and beer money, it was a no brainer.

Now that I have 10X's the buying ability, I would never buy 10X's the boat, but for certain will upgrade in the near future as I will need something to carry me through the retirement years.