Accurate and fair assessment. I will add. I just bought a 2016 axis. The used market is tough. Private sellers are pretty high priced and not willing to drop. Dealerships are high yet willing to drop. I’m assuming it’s a case by case basis. BUT I convinced a dealership to drop thousands. When I couldn’t get numerous private sale people to drop a penny. yes. I know. You are thinking dealerships are marking their used boats way up so they can drop thousands. To that I say. Private sellers in my experience were just as high if not higher than that of the dealers (in my area anyway.) interest rates are insane. No question about that.
I believe that all of the manufacturers could see from a mile away that the boat market was going to flip to a buyers market. Thus all the manufacturers have throttled production. The only official news I heard about this was only from mastercraft laying off a bunch of factory staff awhile back. But I'm sure all manufacturers have done this to some extent. I don't believe MSRP's will ever come down. Instead, for the time being, companies will offer rebates. Once interest rates come back down then the rebates will dry up.
I think the used market for 10 to 20 year old boats is relatively good as the latest jump in prices on new boats over the last few years make the 10 year old boats more attractive.
Used boat market is waaay to hit or miss on a case by case basis to make broad sweeping statements. For instance I saw a 2015 moomba for 45k that's in excellent shape, surf system, good ballast and stereo, etc. Then I also see people trying to sell 2005 boats for over 30k, and I think, good luck with that.
I think interest rates and inflation are (or did )also having an impact. Which is weird. 2020, not here but in Golden Co, people were paying cash.. because some were losing out on boats while waiting for financing!!
What about used boat market? I feel like it’s tanked, at least in the east coast. I’m currently having trouble selling my 2022 MasterCraft XT22, it’s been listed since July 2023. It’s one of the best valued priced XT22’s in the country and only has 85hrs. No buyers 😢
Yea, used market has definitely slowed and its likely because of the recent price jump. In the last few years people have been buying their new boats for significantly higher prices but people looking for used boats don't want to pay more while owners don't want to take less.
Accurate and fair assessment. I will add. I just bought a 2016 axis. The used market is tough. Private sellers are pretty high priced and not willing to drop. Dealerships are high yet willing to drop. I’m assuming it’s a case by case basis. BUT I convinced a dealership to drop thousands. When I couldn’t get numerous private sale people to drop a penny. yes. I know. You are thinking dealerships are marking their used boats way up so they can drop thousands. To that I say. Private sellers in my experience were just as high if not higher than that of the dealers (in my area anyway.) interest rates are insane. No question about that.
Good info, thx!
Great update, Tim. I'm still catching up on your episodes after being on the road for 1.5 months.
Thank you! No worries, you are so lucky to be able to travel the world like that.
I believe that all of the manufacturers could see from a mile away that the boat market was going to flip to a buyers market. Thus all the manufacturers have throttled production. The only official news I heard about this was only from mastercraft laying off a bunch of factory staff awhile back. But I'm sure all manufacturers have done this to some extent.
I don't believe MSRP's will ever come down. Instead, for the time being, companies will offer rebates. Once interest rates come back down then the rebates will dry up.
I agree, msrps will not rollback and slow down on production is likely.
Great, can you do analisis on used market for 10, 20 year old boats which consists of iconic boats?
I think the used market for 10 to 20 year old boats is relatively good as the latest jump in prices on new boats over the last few years make the 10 year old boats more attractive.
Used boat market is waaay to hit or miss on a case by case basis to make broad sweeping statements. For instance I saw a 2015 moomba for 45k that's in excellent shape, surf system, good ballast and stereo, etc. Then I also see people trying to sell 2005 boats for over 30k, and I think, good luck with that.
I think interest rates and inflation are (or did )also having an impact. Which is weird.
2020, not here but in Golden Co, people were paying cash.. because some were losing out on boats while waiting for financing!!
What about used boat market? I feel like it’s tanked, at least in the east coast. I’m currently having trouble selling my 2022 MasterCraft XT22, it’s been listed since July 2023. It’s one of the best valued priced XT22’s in the country and only has 85hrs. No buyers 😢
Yea, used market has definitely slowed and its likely because of the recent price jump. In the last few years people have been buying their new boats for significantly higher prices but people looking for used boats don't want to pay more while owners don't want to take less.