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I'm baaaaack...
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Discussion Starter · #1 ·
This isn't meant as spam, but a story/question, and I have no reward if the boat were to sell.

Yesterday I was at Advantage to get a new gas cap to replace the one we left on the fender at Campbell's. On the way to the stock room to see what was available, we walked past a 34 Offshore with twins and a custom cabin cover. Bill described the boat in detail - two 625 Ilmors (the Viper V-10 motor), the drives had Teague labeling on them, there's an A/C system, flat screen, boat has 15 hours, motors have 50 hours, it's a just plain gorgeous boat. The trailer cost 65K, LEDs, and has landing lights down the middle. The boat cost about $450k new.

$139,000 and it's yours. Assuming this boat sells, and becomes the new "price standard", what does that do to the value of the boats that sold for 139 when this boat sold for 450? I'd love to have a twin engine 34 X-Flight, even if the motors were smaller than the 600 I have now. I think the extra size and the maneuverability around the docks would be awesome.

BUT, if my boat has lost 75% of its value, there's not much chance of trading up in the future. My wife has already decided that this is our last boat, our "retirement boat", and was even talking yesterday about how much she liked the Cheetah because of its smaller size.

Anyway, the question/observation is in boat values; have they dropped that much more than normal depreciation? Are those who are selling finding they are getting low offers? Are those who are buying go for super low purchases?
 

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I would think this is the same as housing prices. Those that bought when the market was over valued are now screwed. At close to 1/2 million, that boat had a great deal of pure profit. At 135,000 it's probably a lot closer to cost of building. Lots of great deals on all kinds of stuff if you have money to spend.
 

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mach26 300's
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1,216 Posts
In my opinion every boat that is being sold right now is having to go for a dam near fire sale price. i would love to sell my boat as well and move up, but i can't forsee getting what i want out of it to move up so i don't even bother. In answer to the question boats have definitely dropped way more in normal depreciation than anything else, its a total luxury to have a high performance boat with all the maintance and cost of use.
 

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AKA Blownjet 468
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1,205 Posts
I know what you mean- after seeing hullshot's friends' boat in the spam section,
selling for a measly 25g- being only 2 yrs older than mine, and having WAY MORE high
dollar items than mine, I'm kinda shocked that I wouldn't be able to get 40g out of it:mad:
GOOD THING I DON't plan on selling it-EVER!
 

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1,564 Posts
Price on boats just got really high in price in the past 10-12 years.Alot of dough to spend for something that will also sit alot.Recreational toys have never been and investment but usually lost money.

reality is just starting to settle in and most cannot afford to spend thousands of dollars on them.

Even if i could afford to spend 60k for a 150k boat i probably wouldnt do it myself.
 

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Whats worse, at $139,000 it's still available. Just like real estate, we still searching for a bottom. Custom boats by far, have taken the worst hit. Tournament boats on the other hand, are very strong on the market. Even at auction, a clean 4 or 5 year old 21' v-drive (malibu /mastercraft/ correct craft) sill brings upwards of 40K wholesale, and quite a bit more on the retail market.
 

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08 Lighting Custom Boat
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869 Posts
This isn't meant as spam, but a story/question, and I have no reward if the boat were to sell.

Yesterday I was at Advantage to get a new gas cap to replace the one we left on the fender at Campbell's. On the way to the stock room to see what was available, we walked past a 34 Offshore with twins and a custom cabin cover. Bill described the boat in detail - two 625 Ilmors (the Viper V-10 motor), the drives had Teague labeling on them, there's an A/C system, flat screen, boat has 15 hours, motors have 50 hours, it's a just plain gorgeous boat. The trailer cost 65K, LEDs, and has landing lights down the middle. The boat cost about $450k new.

$139,000 and it's yours. Assuming this boat sells, and becomes the new "price
standard", what does that do to the value of the boats that sold for 139 when this boat sold for 450? I'd love to have a twin engine 34 X-Flight, even if the motors were smaller than the 600 I have now. I think the extra size and the maneuverability around the docks would be awesome.

BUT, if my boat has lost 75% of its value, there's not much chance of trading up in the future. My wife has already decided that this is our last boat, our "retirement boat", and was even talking yesterday about how much she liked the Cheetah because of its smaller size.

Anyway, the question/observation is in boat values; have they dropped that much more
than normal depreciation? Are those who are selling finding they are getting low offers? Are those who are buying go for super low purchases?
That is am really nice boat, but not for $450000. For that kind of money they could have bought a DCB, MTI, Skater which would have held it's value better. There are some great deals out there now, but still $140000 is alot to swing and I don't really see a bank lending that kind on money right now.
 

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Premium Member
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4,194 Posts
i see some good prices and some that are still up there...in fact i went and booked my boat out this morning and it shows to be about 20k less then i want to sell it for, i am itchin to move up, although i will not give my boat away, i have done the two boat thing before and its just to much work....i could trade it in on a new boat and take my beating, when looking at used boats i will have to sell myself..
 

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Boatless Member :(
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3,006 Posts
So if the boat you want to move up to is less than "normal", and your boat is worth less than you want for it, or the "normal".

Why do you think your losing out in the deal?

25k for what you think is a 40k boat.
When moving up to a 80k boat that used to be 150k...

I really don't see the problem.
 

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Premium Member
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4,194 Posts
So if the boat you want to move up to is less than "normal", and your boat is worth less than you want for it, or the "normal".

Why do you think your losing out in the deal?

25k for what you think is a 40k boat.
When moving up to a 80k boat that used to be 150k...

I really don't see the problem.
if this is directed at me, you wouldnt see a problem cause it aint your money, right:D i didnt buy my boat brand new in 07 for an investment thats for sure, i just think that the value its at right now is not worth the hit to sell it..i understand taking a hit, jus not that big..and the boats i am wanting to move up to really are not going down in value with the comparision to my boat, cause i am buying a better brand and bigger boat..:)devil
 

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the longer you own your boat the more it will lose.They dont appreciate just depreciate with every day.

If alot of boats were as good deals as people claim they wouldnt be on the market for months but gone in days.
 

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Can't re-Member
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1,990 Posts
Anyone who buy's a Boat with the idea that it could be considered an appreciable asset probably should re-think their investment strategy. A boat is a toy, and should be monitarily considered as such :)bulb
 

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08 Lighting Custom Boat
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869 Posts
the longer you own your boat the more it will lose.They dont appreciate just depreciate with every day.

If alot of boats were as good deals as people claim they wouldnt be on the market for months but gone in days.
There are alot of great deals out there right now. There are tons of boats out there that are 1/2 or 3/4 the price they were brand new, but if you don't have the cash in your pocket there aren't many banks that are going to give you that big of a loan for a toy that will be the first thing alot of people will stop paying on first.
 

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Premium Member
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262 Posts
I would think this is the same as housing prices. Those that bought when the market was over valued are now screwed. At close to 1/2 million, that boat had a great deal of pure profit. At 135,000 it's probably a lot closer to cost of building. Lots of great deals on all kinds of stuff if you have money to spend.
So do we think that people are going to start walking away from his or her boat loan?
 

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Premium Member
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4,194 Posts
So do we think that people are going to start walking away from his or her boat loan?
god i hope not...you signed the papers you pay the bill,:|err isnt that is part of why we are having this discussion about boat and toy prices???:D not to start or get off topic here.. my point is it is what it is. there is nothing really right now that is a good investment..:mad:
 

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Premium Member
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You can buy a house with 20% down and rent it out with instant positive cashflow in today's high renter market.
i did buy a house or should i say i stole some poor saps house that didnt want to make the payment anymore.. which is another home to own, and i like it so much i decided to live in it.....i didnt even put 20% down, i did 100% down....:)
 

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Huntington Beach Havasu
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2,092 Posts
Boats are toys and today toys are not the most important thing. I think boats in general will continue to slip in prices because a lot of people are out of the market. Many people lost big time and will not be back for some time looking for expensive toys. There were a lot of boats bought with home equity loans and now that is also gone.

Boat will be soft for years.
 

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08 Lighting Custom Boat
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869 Posts
Boats are toys and today toys are not the most important thing. I think boats in general will continue to slip in prices because a lot of people are out of the market. Many people lost big time and will not be back for some time looking for expensive toys. There were a lot of boats bought with home equity loans and now that is also gone.

Boat will be soft for years.
X2, Then they walked away from the house and kept all the toys that were paid for
 
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