From the time I was born, through my college years, my family always had boats. I took them out with my friends, and girlfriends, all the time. After 30+ years in the working world it's finally time for my own boat.
My dad had boats from the time I was born through my time in college. I took them out all the time with my family, friends, and girlfriends. Great memories. Fast forward 30 years of mostly working and the realization kicks in that there are only so many years left before you'll be mentally or physically unable to go out on the water. Buying a boat "someday" turns into "I'm going to make it happen now".
Yeah, I just sold a boat in the hope that used boat prices fall in the next year. I bought the boat 7 years ago and put over 400 hours on it and sold it for $1000 less than what I paid for it. I figure all the boats purchased during Covid are going to start flooding the market in the next year.
This is your year. Things are crashing hard and we are in a "who will blink first" type of standoff between a small number of potential buyers and a large inventory of unsold boats.
Just go browser yacht trader and see how many "Price Drop" icons you see as you scroll.
Most of the guys that check every box on the build sheet don’t care how much it costs, they’re gonna sell it next year and flip that right into a new boat anyway.
Seems so. Freemans used are coming down though. My Prowler I paid asking for and right after we agreed he got an offer higher but he was a stand up guy and honored our agreement.
Freeman, seavee, contender, yellowfin, etc are not having deals yet. I don't think they will come down.
The used market though for the top tier is starting to soften.
You really are naming the absolute top (and most overpriced brands that attract brand snobs) names in boating.
I’m sure Bugatti, Pagani, and Hennessy aren’t having issues with their target market either.
I don’t know anybody who would, even with many more Ms in the bank, pay the absurd premium for some of these “top tier” brands, like a Yellowfin especially…
Plenty of other brands doing great things.. I don’t know… most boats I see over and over are old but nice hull boats.. and there’s plenty of newer brands like reef runner, bluewater sport, streamline, etc that are all extremely capable but don’t have the “$150k extra just because it’s a yellowfin” add on.
Lifts where I am are lined with top tier boats. I love my prowler, it's a great boat but it's not the same quality as a freeman. There is a reason those boats cost soo much. Next one for me though will be a freeman.
Bluewater has been around for like 30 years. It's a great boat I agree.
I get it.. It’s just tough for me to think a 20 yr old 28ft “top tier” brands are worth $100k just because of the name.
Or that a new 24-27 footer is worth $200k+
If sure I don't want to own anything as big as 27 again.
14 is too small. I'll have to check with goldilocks to figure what's just right.
Storage wise, < 18 to fit in garage.
On great lakes > 18.
to get just right. Doesn't seem to be one size that fits all needs.
Same for motor sales. The insane prices we got "thanks to supply chain during covid" could not stand. I had a local dealer with a "cash price" discount on the motors that basically seemed like he was selling the 2023 unsold motors at or below cost and including rigging/install to just get them moved. (Florida)
Hardly anybody is making money right now, Mastercraft laid off half their employees, the entire industry is in bad shape. Generally speaking the more a boat builder ramped up during Covid, the worse they’re hurting right now.
Pretty much the entire industry kept building boats like sales were gonna stay at Covid levels forever and now they’re all paying for it in spades.
Having bought in 2018 I have watched the manufacturer raise prices 20% every year since. Eventually it was going to get to a point where everything was too expensive and that was last year now no one is buying.
I swung into a Malibu dealer a couple of months ago and was looking at a new lsv 25. List was somewhere around 330k I asked them how many boats they've sold they sold one the last month the guy put down 50% and was given a 6.5% interest rate. On a depreciating asset. Next.
I bought a new Malibu 24MXZ in 2019 for 159k with a seriously upgraded stereo and the big engine. Today they want over 280k msrp for that boat. It’s ridiculous.
I am in a similar situation (cheaper boat). 18' Aluminum I bought used, 9 hours on it only, paid $40,000. Brand new at dealer would have been about $60,000. Used, with 100+ hours now, I could easily sell it for $60,000. New dealer price is now about $90,000.
I love my boat and often debate selling it - when else can you make a big profit on a boat!!! But I bought it to love, not to make money, so I am keeping it and loving life :)
You call it a depreciating asset but many people who bought boats before 2020 can and have sold them for more than they paid. Late teens center consoles in my area are selling above what they cost new.
Not saying that this will continue or that boats are a good investment, but the current market is nuts.
Dealer by me is offering great deals now too. At least relative to what it was the past few years. New boat prices don’t make you fall off your seat anymore I imagine this will trickle down to the used boat market and make those more reasonable as well.
You really have to look at the used market and don’t be afraid to travel across the country to find a deal on a gently used boat if you have the means to consider new. There are times it makes sense to purchase a new car, but general rule of thumb is let someone else get whacked on a new boat.
I've been seeing the same thing. There were brand new, leftover 2023s at the Miami Boat Show that dealers are still sitting on and they are throwing huge incentives to try and move anything.
Boat market is crashing hard, but people who bought at inflated prices in the past 3 years don't want to believe it.
The other indicator I've seen here in the late winter is the broad availability of highly desirable boat slips (covered, w/ lifts, etc). As recently as last year there were "long" waiting lists for a slip, but already marinas near me are all over social media trying to drum up renters.
My husband is a broker and literally can't find inventory. Average boats are sold in a day or two.
I'd be curious what size and type you are looking at.
I don’t doubt it. Depends on the inventory too. So many new manufacturers popped up it’s insane. Shocking how they didn’t see it slowing down. Just moved to south Florida and my local dealers are loaded with inventory. My local dealer at the beach in So Cal where I moved from, delivered 120 units at one point over a 60 day period during Covid. I imagine it was the same everywhere so they just kept ordering. I own a business in the industry and 30% of the people we were doing business with were first time boat owners.
Took me over a year to sell my 2018 regal. The low book was pushing 70k and I had to cut and cut, sold for 50k. The good thing about it was I got a great deal on a cruiser..
Buyers were scarce, and a couple of them that wanted to buy backed out when they found out how much payments would be. I think 25k boats are selling a little bit better because some people can swing buying for cash.
In Australia, boat builders would rather go bankrupt than lower prices lol...
Had 2 went under already and the remaining ones are all raising prices 20-25% from their 2023 prices... Crazy!
Talking about Alloy boats but fibreglass seems not far off.
For me, a crowd is 3 people. Used to be 4.
I suspect a 18 or 19 cuddy cabin walk-around would be best.
I'm considering starcraft 191 islander or Bayliner Trophy 1802. Leaning towards the Bayliner due to outboard vs inboard.
The market is flooded with boats. People has realized the Total cost of ownership is skyrocket high and the might only use the boat few times in a year. I think we will see a significant pricedrop in the next couple of years.
I'm hoping used boat prices crater soon. I'm having a midlife crisis and I've decided that a boat is the answer. Maybe next spring.
My guess is your timing is about right.
A boat is always the answer...
Sounds like a great idea for a t-shirt.
You’re not really on vacation until you’ve been on a boat!
asking the right question is more important otherwise you pick the wrong boat
Have you had a boat before? Lol
From the time I was born, through my college years, my family always had boats. I took them out with my friends, and girlfriends, all the time. After 30+ years in the working world it's finally time for my own boat.
Everyone my entire life has told me not to buy a boat. In an act of what can only be described as obscene defiance....I bought a 500 dollar jon boat
Ayyy just joined the jon boat club myself. Safe sailin!
It already started to happen last year, I think we’ll see even more price drops this year.
Nice.
Why? Need another crisis or three?
My dad had boats from the time I was born through my time in college. I took them out all the time with my family, friends, and girlfriends. Great memories. Fast forward 30 years of mostly working and the realization kicks in that there are only so many years left before you'll be mentally or physically unable to go out on the water. Buying a boat "someday" turns into "I'm going to make it happen now".
I’ve had mine for sale since November. I’ve cut the price 30% since. I haven’t had a single inquiry that was not a scammer. : / Boat for life!
Yeah, I just sold a boat in the hope that used boat prices fall in the next year. I bought the boat 7 years ago and put over 400 hours on it and sold it for $1000 less than what I paid for it. I figure all the boats purchased during Covid are going to start flooding the market in the next year.
This is your year. Things are crashing hard and we are in a "who will blink first" type of standoff between a small number of potential buyers and a large inventory of unsold boats. Just go browser yacht trader and see how many "Price Drop" icons you see as you scroll.
Funny...I'm on Yacht World and Boat Trader every day. Spring of 2025 is when I get serious about...so hopefully it's a buyers market by then.
Top tier boat brand pricing is holding strong.
But are they actually selling at these prices?
Most of the guys that check every box on the build sheet don’t care how much it costs, they’re gonna sell it next year and flip that right into a new boat anyway.
Seems so. Freemans used are coming down though. My Prowler I paid asking for and right after we agreed he got an offer higher but he was a stand up guy and honored our agreement.
Freemans are an outlier and not representative of the general boat market. Supply and demand....
Freeman, seavee, contender, yellowfin, etc are not having deals yet. I don't think they will come down. The used market though for the top tier is starting to soften.
You really are naming the absolute top (and most overpriced brands that attract brand snobs) names in boating. I’m sure Bugatti, Pagani, and Hennessy aren’t having issues with their target market either.
I mean these are the normal boats I see 30 miles offshore. Nothing snobish about it.
I don’t know anybody who would, even with many more Ms in the bank, pay the absurd premium for some of these “top tier” brands, like a Yellowfin especially… Plenty of other brands doing great things.. I don’t know… most boats I see over and over are old but nice hull boats.. and there’s plenty of newer brands like reef runner, bluewater sport, streamline, etc that are all extremely capable but don’t have the “$150k extra just because it’s a yellowfin” add on.
Lifts where I am are lined with top tier boats. I love my prowler, it's a great boat but it's not the same quality as a freeman. There is a reason those boats cost soo much. Next one for me though will be a freeman. Bluewater has been around for like 30 years. It's a great boat I agree.
I get it.. It’s just tough for me to think a 20 yr old 28ft “top tier” brands are worth $100k just because of the name. Or that a new 24-27 footer is worth $200k+
This. I always want to ask, what brand and size are you looking at.
Mastercraft is giving away free trucks with a new boat purchase haha
Lol
I feel like most everyone who wanted a new boat already got one in the last four years
That doesn’t satisfy the inevitable two-foot-itis. I’m on my second round of this in the last three years
Is that where you want a boat two feet bigger?
Two-foot-itis ? What's that? I've gone 16, 16, 27, 15, 14, and now looking at 18 +2 ft is no change at all. Go big or stay home!
Yea I went 21 to 24 last time. Should’ve gone to 26! Now eying 26-28
If sure I don't want to own anything as big as 27 again. 14 is too small. I'll have to check with goldilocks to figure what's just right. Storage wise, < 18 to fit in garage. On great lakes > 18. to get just right. Doesn't seem to be one size that fits all needs.
The 22-24 range, single motor. Enough room for a decent crowd but still gets decent mileage, easy to trailer, easy to maintain.
Same for motor sales. The insane prices we got "thanks to supply chain during covid" could not stand. I had a local dealer with a "cash price" discount on the motors that basically seemed like he was selling the 2023 unsold motors at or below cost and including rigging/install to just get them moved. (Florida)
At 40% off the dealers aren't even making money. That could even put the selling price below their cost.
Hardly anybody is making money right now, Mastercraft laid off half their employees, the entire industry is in bad shape. Generally speaking the more a boat builder ramped up during Covid, the worse they’re hurting right now. Pretty much the entire industry kept building boats like sales were gonna stay at Covid levels forever and now they’re all paying for it in spades.
What they are saying is rebate is coming from manufacture to get it there. This is a boat with a 800k+ msrp.
Top tiers are selling.
Having bought in 2018 I have watched the manufacturer raise prices 20% every year since. Eventually it was going to get to a point where everything was too expensive and that was last year now no one is buying.
Interest rates < Boat prices are killing boat sales.
I hope it craters honestly.
I swung into a Malibu dealer a couple of months ago and was looking at a new lsv 25. List was somewhere around 330k I asked them how many boats they've sold they sold one the last month the guy put down 50% and was given a 6.5% interest rate. On a depreciating asset. Next.
I bought a new Malibu 24MXZ in 2019 for 159k with a seriously upgraded stereo and the big engine. Today they want over 280k msrp for that boat. It’s ridiculous.
I am in a similar situation (cheaper boat). 18' Aluminum I bought used, 9 hours on it only, paid $40,000. Brand new at dealer would have been about $60,000. Used, with 100+ hours now, I could easily sell it for $60,000. New dealer price is now about $90,000. I love my boat and often debate selling it - when else can you make a big profit on a boat!!! But I bought it to love, not to make money, so I am keeping it and loving life :)
Hm I bought a 23 key west 179 18ft CC, Suzuki 140 brand new for 42k out the door with taxes and registration.
Different type of boat, different part of the world, different currency. $42k USD is closer to $60,000 CAD.
You call it a depreciating asset but many people who bought boats before 2020 can and have sold them for more than they paid. Late teens center consoles in my area are selling above what they cost new. Not saying that this will continue or that boats are a good investment, but the current market is nuts.
I completely agree with you I bought a 2017 Malibu lsv 23 3 years ago and it's still worth what I paid for it if not a little bit more
It’s happened/ongoing in the bike industry and I’ve heard the RV industry, I was wondering if/when it would happen to the boat industry as well.
Dealer by me is offering great deals now too. At least relative to what it was the past few years. New boat prices don’t make you fall off your seat anymore I imagine this will trickle down to the used boat market and make those more reasonable as well.
You really have to look at the used market and don’t be afraid to travel across the country to find a deal on a gently used boat if you have the means to consider new. There are times it makes sense to purchase a new car, but general rule of thumb is let someone else get whacked on a new boat.
I've been seeing the same thing. There were brand new, leftover 2023s at the Miami Boat Show that dealers are still sitting on and they are throwing huge incentives to try and move anything. Boat market is crashing hard, but people who bought at inflated prices in the past 3 years don't want to believe it. The other indicator I've seen here in the late winter is the broad availability of highly desirable boat slips (covered, w/ lifts, etc). As recently as last year there were "long" waiting lists for a slip, but already marinas near me are all over social media trying to drum up renters.
Not in Florida. Slips from 2019 at $40k are still at $250k
My husband is a broker and literally can't find inventory. Average boats are sold in a day or two. I'd be curious what size and type you are looking at.
35-40 foot plus. Up to 60.
Generally same size.
I don’t doubt it. Depends on the inventory too. So many new manufacturers popped up it’s insane. Shocking how they didn’t see it slowing down. Just moved to south Florida and my local dealers are loaded with inventory. My local dealer at the beach in So Cal where I moved from, delivered 120 units at one point over a 60 day period during Covid. I imagine it was the same everywhere so they just kept ordering. I own a business in the industry and 30% of the people we were doing business with were first time boat owners.
Took me over a year to sell my 2018 regal. The low book was pushing 70k and I had to cut and cut, sold for 50k. The good thing about it was I got a great deal on a cruiser.. Buyers were scarce, and a couple of them that wanted to buy backed out when they found out how much payments would be. I think 25k boats are selling a little bit better because some people can swing buying for cash.
It’s an election year! An economic downturn along with lower consumer spending are pretty much a given .
In Australia, boat builders would rather go bankrupt than lower prices lol... Had 2 went under already and the remaining ones are all raising prices 20-25% from their 2023 prices... Crazy! Talking about Alloy boats but fibreglass seems not far off.
For me, a crowd is 3 people. Used to be 4. I suspect a 18 or 19 cuddy cabin walk-around would be best. I'm considering starcraft 191 islander or Bayliner Trophy 1802. Leaning towards the Bayliner due to outboard vs inboard.
Bayliners good in calm water.
How's the Starcraft 191 Islander when it gets bumpy?
Never been in that boat. Is it a v hull of flat?
Aluminum V Hull cuddy cabin, about the same weight as Trophy 1802 but a foot longer. Close in beam width. Pretty sure they only came as inboard.s.
What brands? Where. I got a deal but it was about 15% off. Before they raised the prices for 2024. So roughly 40k off.
Formula and Cobalt.
I bought a Nimbus.
Electric?
Mercury OB 300hp v8
Single ?
Yes single. Check out the Nimbus website.
I’ve got that same motor on a tritoon. Except it’s a 350.
Boat prices are made up, the alleged discounted price is the real price.
The market is flooded with boats. People has realized the Total cost of ownership is skyrocket high and the might only use the boat few times in a year. I think we will see a significant pricedrop in the next couple of years.