Boat Prices: Has the world changed????

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I got a very amusing email from BoatTest.com this morning. The subject line:

"Breaking News: Used Boats Are Becoming Available/Pricing More Flexible"

:lol::rofl::lol::rofl::lol::rofl:
 
This was one of the headlines in a BoatTest email update I received today:

2022 Used Boat Prices Fall 18%

Boats Group, the owner of Yacht World and a couple of other classified boat sites, said recently that unit sales for the period of May and June 2022 were down 17% and average boat prices were down 18% vs. the same period in 2021. The report said that the average price for the period was $174,594 for the boats it tracks.

Purely anecdotally, just based on my own continued perusals of yachtworld (even though I have a new boat on order) and the calls/emails I'm getting from brokers, the market seems to have definitely softened somewhat. Over the past couple of months I've seen a substantial increase in the number of used boats being listed (at least with the parameters I used to search for). Over the past two years I only saw two of one of the models I was previously searching for appear for sale used (they both sold for over asking). Now there are 8 that have come on the market just within the past month.

The times, they are a changing...
 
I've always found it's not so much general market conditions as it is the cleanliness, condition and long-term quality of a boat's brand that makes the sale. But, of course... in a really down economy sale price and time to get a sale can be affected. As well... in really up economy selling a boat is usually easier. Still... a boat's cleanliness, condition and long-term quality of boat brand rules the roost!! :speed boat: :dance: :thumb:
 
Art said:
I've always found it's not so much general market conditions as it is the cleanliness, condition and long-term quality of a boat's brand that makes the sale. But, of course... in a really down economy sale price and time to get a sale can be affected. As well... in really up economy selling a boat is usually easier. Still... a boat's cleanliness, condition and long-term quality of boat brand rules the roost!! :speed boat: :dance: :thumb:
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Art, you're absolutely right.

Despite the searing white-hot seller's market, one boat I looked at was on the market for over two years. It looked nice in the yachtworld pics (funny how most things look great on line), but in person it needed (IMHO, of course) extensive restoration, despite only being 15 years old.

Price had a lot to do with it as well. It was originally listed at $899k, the last time I heard from the broker it was reduced to $300k (don't know what it finally sold for).

On the other hand, I noticed last week a Helmsman 38E listed in Washington, and less than a week later, the listing shows as 'pending.'
 
Nick14 said:
Art, you're absolutely right.

Despite the searing white-hot seller's market, one boat I looked at was on the market for over two years. It looked nice in the yachtworld pics (funny how most things look great on line), but in person it needed (IMHO, of course) extensive restoration, despite only being 15 years old.

Price had a lot to do with it as well. It was originally listed at $899k, the last time I heard from the broker it was reduced to $300k (don't know what it finally sold for).

On the other hand, I noticed last week a Helmsman 38E listed in Washington, and less than a week later, the listing shows as 'pending.'
Click to expand...

Nick

Recently:

- About a year ago I sold our immaculate condition 1988 BlueWater ski boat and its original dual axel trailer at top price.

- About a month ago I sold our 1996 Tiffin Allegro Class A Motorhome for a top price... it was in immaculate condition.

- Last week I sold our 1975 tow behind Crestliner runabout with 50 hp Johnson o/b and newer galvanized trailer; each being in top condition... at top price.

- About a month plus ago... I placed our top condition 1977 34' tri cabin Tollycraft for sale at top price. Calls are coming in!

I don't use brokers and write my own simple yet thorough "As Is - Where Is" sales contracts with pink slip transfer at point of $$$ transfer for a closed sale.

You may notice by what I ul'd, bolded and italicized in the sales bullets' above [as well as the quality product builder names mentioned] taint the market as much as the product and its condition that makes the sale!

We're down sizing our toys due to explosive "Climate Friendly" business endeavor I'm about to get funded. Figure three to five years of big growth. Then... we'll see what's available for new fun adventures! :D:D
 
FWIW, one of the last used boats I called about a few months ago before I ordered a new Helmsman was listed at a price I thought was about 20% higher than what I believed it was worth (and what I was willing to offer). I called the broker and was told, tersely and brusquely, that the 'price was very firm' and the seller 'was not open to offers unless they were over the asking price.'

It's still listed on yachtworld, now at a price 16% below what it was listed for a few months ago. I'm also getting a number of emails with 'bring all offers' messages.
 
Nick14 said:
FWIW, one of the last used boats I called about a few months ago before I ordered a new Helmsman was listed at a price I thought was about 20% higher than what I believed it was worth (and what I was willing to offer). I called the broker and was told, tersely and brusquely, that the 'price was very firm' and the seller 'was not open to offers unless they were over the asking price.'

It's still listed on yachtworld, now at a price 16% below what it was listed for a few months ago. I'm also getting a number of emails with 'bring all offers' messages.
Click to expand...

That’s driven buy the owner I would think. Two weeks ago a bought I know went into contract same day full price and closed a few days ago. I imagine it all depends on the realistic news of the offering price.
 
I see that RT Fireflys boat that was quickly purchased and relisted at a hefty premium remains on the market. Breaks my heart to see a greedy flipper sitting on it. The only thing that would make me smile more is to see it go pending, then back for sale (meaning a buyer rejected it).

As the saying goes: "Pigs get fat. Hogs get slaughtered."

https://www.yachtworld.com/yacht/1979-cheoy-lee-trawler-8358773/

Sorry for the scornful post. But I'm sure I'm not alone

Peter
 
mvweebles said:
As the saying goes: "Pigs get fat. Hogs get slaughtered."

Sorry for the scornful post. But I'm sure I'm not alone

Peter
Click to expand...

You are most certainly not alone (as some might have sensed from my many mocking and contemptuous posts on the subject, after my 2 1/2 years of delightful and inspiring experiences trying to buy a used boat).

bowball said:
That’s driven buy the owner I would think. Two weeks ago a bought I know went into contract same day full price and closed a few days ago. I imagine it all depends on the realistic news of the offering price.
Click to expand...

You're absolutely right. There still seems to be more than enough buying interest that boats in decent condition, priced fairly, sell fast. Imagine that, the possibility of getting back to more normal market conditions. But there also still seem to be plenty of sellers who don't want to acknowledge that the market might be changing, and are still looking for a sucker with more money than common sense.

The great craigslist post has been deleted (apparently some seller with dollar signs in their eyes was offended by it).
 
What was the essence of the craigslist post? Something like a $1M row boat?
 
backinblue said:
What was the essence of the craigslist post? Something like a $1M row boat?
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An ancient PoS wood fishing boat marooned and in the weeds of dry land. Asking price was $350k

Poster quickly states "now that I have your attention....." then goes on to admonish seller's seeking ridiculous prices. Was a good ad.

Peter
 
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I don't really understand why people are upset with sellers asking higher prices than you think they should. It's always the case that things will sell at whatever the market will bear. Doesn't matter if it's a buyers or sellers market. Eco 101, supply and demand sets the price. You can complain about having to spend more than you want to or more than you think is fair, but what is fair is determined by the market. An old saying is something like "the best deal is when the buyer and seller both think they got a good price"
 
It was a good cheeky advertisement, but I get your point.

Back in the old Trawlers & Trawlering forum days, there was a guy who apparently didn't like his boss at work, so he posted his boss "for sale" on Craigslist with a bunch of snarky comments. He got fired for it, which was fine by him. His skillset in tech was in demand.

Peter
 
mvweebles said:
I see that RT Fireflys boat that was quickly purchased and relisted at a hefty premium remains on the market. Breaks my heart to see a greedy flipper sitting on it. The only thing that would make me smile more is to see it go pending, then back for sale (meaning a buyer rejected it).

As the saying goes: "Pigs get fat. Hogs get slaughtered."

https://www.yachtworld.com/yacht/1979-cheoy-lee-trawler-8358773/

Sorry for the scornful post. But I'm sure I'm not alone

Peter
Click to expand...


Interesting to see that the YW ad states the hull material is "Hypalon" . . . . Either that, or it's a 46' dingy they're selling . . . :nonono:
 
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backinblue said:
I don't really understand why people are upset with sellers asking higher prices than you think they should. It's always the case that things will sell at whatever the market will bear. Doesn't matter if it's a buyers or sellers market. Eco 101, supply and demand sets the price. You can complain about having to spend more than you want to or more than you think is fair, but what is fair is determined by the market. An old saying is something like "the best deal is when the buyer and seller both think they got a good price"
Click to expand...

As Gordon Gekko famously said.... "greed is good"......
 
When I buy or sell anything but RE... it always seems to be without a broker on either side. Now that I think of it - Did purchase sizable house and property in late 70's without a broker.

Couple months ago I sold our 1996 Class A Motor Home at top market price. In great vintage condition.

Then I sold our 1975 Crestliner tow-behind runabout with original o/b at top market price. Fine classic tender, sport about tender.

Now for a couple months I've had our Tollycraft listed at top market price. Several inquiries... no big bites yet. Beautiful condition cruiser boat.

Real secret of selling [or buying for that matter] is simple honesty, and, products in good condition. Both sides need to spread all their cards on the table when closing a win-win on any deal. Buyer especially needs to have a keen eye and be ready to walk away at any moment for whatever it is that makes them feel uneasy.

:speed boat: When I punch em in the photos straightem - Best Luck!
 

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psneeld said:
As Gordon Gekko famously said.... "greed is good"......
Click to expand...

It's a shame that's the only thing most people remember about the movie 'Wall Street.' After having worked with Wall Street for most of my 35 year career, venture capitalists, hedge fund managers, private equity, etc., I don't think greed is 'good.'

Transparent and efficient financial markets, companies acting in the best interests of not only shareholders but society in general, of course. But unchecked greed usually leads to illicit, unethical, and often illegal behavior in pursuit of profits. That most perpetrators get away with it doesn't make it good.

Besides, at the end of the movie 'Wall Street', Gordon Gekko is arrested by the SEC.
 
I know greed isn't good....anyone that knows me absolutely knows that isn't me at all.

I also do remember more about the movie. My post was in reference to the embedded quote....and only that.
 
I don't see how greed relates to my quote. The quote means that a fair deal is when both buyer and seller walk away satisfied with the final agreed price. How is that greedy?
 
Steppe said:
Saw this the other day. Seems a bit overpriced for a five year old boat. $750,000 is probably what she sold for new in 2017.

https://www.seattleyachts.com/used-yachts-for-sale/nordic-tugs-2017-auntie-em/2792056_1
Click to expand...

Ah, the name and size game. The boat was sold as the Nordic 37 for many years. Then American Tug introduced their AT39, and the Nordic 37 became the Nordic 39. Then magically grew to the Nordic 40 to outdo it by a foot.

3 feet of growth in just a few years! Must be really good vitamins!
 
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