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#574074 - 08/08/20 12:15 PM Current used boat market is crazy  
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Waterdog Offline
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Virginia
Well folks, after nearly 9 years of being boatless, we’re looking at boats again. Kids are now 10 and 11. During a recent camping trip to a state park on a lake here in Virginia, we rented a pontoon boat and a wave runner. First time the kids have been on a boat since they were 2 and 1. They loved it. Renting a Larson 248 this coming Monday in order to teach the skids to ski, kneeboard and tube. Trying to further set the hook. (See what I did there? facepalm )

We’ve been RVers for awhile now with several cross country adventures under our belt. But, this year is nuts. With the China virus, camping has become insanely popular. Campgrounds are full, lots of newbies that haven’t a clue (I know you have to start somewhere, but some of these people are dangerous with their new rigs), dealer inventory is nil, service appointments being scheduled 6-8 weeks out, and so on. Thought, well, let’s buy a boat and we can use during the week at one of two lakes (Smith Mountain Lake and Claytor Lake) each just an hour away. Don’t have to worry about campgrounds being full. We looked at lake property, too, but that market is even worse than RVs. Decent lots or houses are going under contract on the day they are listed.

Started looking at boats online. Holy crap, Batman. Prices seem crazy. I think the Covid has infected the boat market, too. For example, we had a 2005 Four Winns 200 Horizon that we sold in 2011 with < 150 hours on it. Saw a listing on boat trader.com for the same year and model but with 460 hours. It was listed for $12,000 more than what we sold it for nine years ago! There also seems to be a trend of many under powered boats. Perhaps that is why they are for sale?

I suspect there will be many barely used RVs on the market next year when people realize camping is more work than they thought. Do you think that will be the case for boats, too? Should we wait until the end of this season or maybe even next year before getting real serious about a boat? Anyone else in the market, and if so, what has your experience been?

Would you be wary of a boat like this?
2009 Sea Ray


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#574075 - 08/08/20 12:36 PM Re: Current used boat market is crazy [Re: Waterdog]  
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Waterdog Offline
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Virginia
Here is an example of what seems to be under powered:
2016 Chap

It is under powered, right? I mean for skiing with 6-7 people on board.


Always remember Rule #6.
#574076 - 08/08/20 02:30 PM Re: Current used boat market is crazy [Re: Waterdog]  
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Justification Offline
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Fruit Heights, Utah
WElcome back to the boating world. Although I still love it our kids now being adults with jobs our excursions have become fewer and further apart.
Loved those family times and hope to get a few more of them soon.

Neither of your links worked for me.

All retail seems to have gotten crazy. Millions of people unemployed, yet Car Lots are empty of trucks, boat inventories are down, RV's seem to be everywhere. I was at the local Lawnmower/snowblower/ small engine repair shop yesterday for parts for my edger, and his/her floor was EMPTY.

Thinking that in six months when the extra $600 per week unemployment checks are ancient memory and the payments are due on all these toys sitting in cold storage, there will be a good amount of barely used inventory for the picking.


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#574077 - 08/08/20 02:38 PM Re: Current used boat market is crazy [Re: Waterdog]  
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Bicycles are not available much either I hear.....


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#574078 - 08/08/20 05:28 PM Re: Current used boat market is crazy [Re: Justification]  
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Waterdog Offline
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Virginia
Originally Posted by Justification


Neither of your links worked for me.

All retail seems to have gotten crazy. Millions of people unemployed, yet Car Lots are empty of trucks, boat inventories are down, RV's seem to be everywhere. I was at the local Lawnmower/snowblower/ small engine repair shop yesterday for parts for my edger, and his/her floor was EMPTY.


Hmmm. Links didn’t work for me either. I’ll try again.

2009 Sea Ray with engine replaced in 2013

Under powered 2016 Chap?

And same thing at our local Stihl dealer. Owner said he has sold more chainsaws in last 2 months than all of last year. Can’t even keep chains in stock.

Our RV dealer sent an email last week to all of their customers that have purchased a fifth wheel or travel trailer in the last year asking if anyone was interested in going to Indiana to pick up trailers that have been ordered and completed. They will pay all expenses plus a daily rate and mileage. Will even set you up with a new hitch. Aren’t enough transport companies to get the already sold inventory to the dealers.


Always remember Rule #6.
#574079 - 08/08/20 05:34 PM Re: Current used boat market is crazy [Re: Waterdog]  
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Waterdog Offline
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Virginia
Oh, and forgot, back in early March, I was looking at trading my F350 SRW for a 2020 F350 DRW or an F450. Was negotiating on several but shutdown came, so we put a pause on it. Started looking again in late May. Haven’t found one with trim level and options I want on a lot within 300 miles of us since then.


Always remember Rule #6.
#574080 - 08/09/20 01:02 AM Re: Current used boat market is crazy [Re: Waterdog]  
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Silverbullet Offline
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Boise, ID
Toys are crazy.

Bought our camper this year. Sold 30 minutes after it was listed. Missed many others.

Have seen huge uptick in new trucks and boats at launch. A bunch of new nautique owners that don't know crap about common courtesy.

Saw a used nautique listed for $175000!!!!!!!

RV dealers are empty

Boat dealers are empty

Fishing gear is empty

Anything remotely tied to the outdoors is gone.

Applications for draw tags through the roof.

ID Non resident hunting tags sold out months before they did last year!

Real Estate is stupid around here. More people coming after the BS of Covid.

Pistol ammo is empty. Need 357 bear rounds for hunting season. Not to be found.

I've thought about selling the boat just because it would fetch top dollar. Than what! I can't afford a new boat at new boat prices!!

Every day I tell myself the bottom will fall out! It just keeps going.


James
2002 Cobalt 226 VP 8.1GIDP
2007 Chevy 2500HD Crew Cab Duramax
1988 Suburban 3/4 Ton
2000 Subaru Forester


#574086 - 08/09/20 01:16 PM Re: Current used boat market is crazy [Re: Waterdog]  
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Jack T Offline
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Southern California
Well, if your RV is worth more or even held its value, that should make a switch to boating more palatable. Have you tried renting lake houses? Out here in SoCal, short term rentals are up by the boatload -- guess that doesn't fit does it?


Have a great day of boating
2012 Monterey 224 FS,
300 HP Volvo Penta with catalytic converters

#574089 - 08/09/20 07:46 PM Re: Current used boat market is crazy [Re: Waterdog]  
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captkevin Online content
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Chicago, IL
My friend sold his 282 Cobalt in less than 24 hours & made a nice profit.


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#574091 - 08/10/20 12:07 PM Re: Current used boat market is crazy [Re: Waterdog]  
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Waterdog Offline
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Virginia
Not sure how this one got into my search results for "bowrider". Perhaps FR can help me figure out how to trailer this thing to our local 4000 ac lake.


Always remember Rule #6.
#574093 - 08/10/20 12:39 PM Re: Current used boat market is crazy [Re: Waterdog]  
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captkevin Online content
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Hard to beat at only $23k per month


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#574094 - 08/10/20 02:05 PM Re: Current used boat market is crazy [Re: Waterdog]  
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On Holiday Offline
Daddy
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Daddy
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PA and Smith Mountain Lake
I have a rental on SML, I was there last week and will be back Labor Day and a few weekends in October. The rental market for lake houses is through the roof, mid May we didn't have one reservation lined up for the entire season and then one Saturday morning I had 5 weeks rented. We reached a reservation level where we were happy with so I raised the rates and soon after those weeks were booked. Basically our mortgage is paid for the entire year through weekly rentals this summer. I wished I had another house to rent. I'm sure I could sell it for a nice profit in just over a year of ownership. I am also seeing used truck lots getting empty with each passing day.


2017 Honda Accord Hybrid
2008 Honda Goldwing Trike
2006 Regal 2400
2004 Dodge Ram 2500
2003 Ford F-150
2002 Harley Davidson Roadking Classic


#574097 - 08/10/20 03:30 PM Re: Current used boat market is crazy [Re: Waterdog]  
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captkevin Online content
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Have been looking at new trucks & can't find anything i'd want in a 200 mile radius. For what they want for them I am not willing to comprise on what i want. Inventory just seems to go down & don't see any new additions.


2004 Rinker 232
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#574099 - 08/10/20 07:09 PM Re: Current used boat market is crazy [Re: Waterdog]  
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Silverbullet Offline
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Boise, ID
Originally Posted by captkevin
Hard to beat at only $23k per month

Originally Posted by Waterdog
Not sure how this one got into my search results for "bowrider". Perhaps FR can help me figure out how to trailer this thing to our local 4000 ac lake.



Underpowered!!!


James
2002 Cobalt 226 VP 8.1GIDP
2007 Chevy 2500HD Crew Cab Duramax
1988 Suburban 3/4 Ton
2000 Subaru Forester


#574103 - 08/11/20 08:40 AM Re: Current used boat market is crazy [Re: Silverbullet]  
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Waterdog Offline
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Virginia
Originally Posted by Silverbullet
Originally Posted by captkevin
Hard to beat at only $23k per month

Originally Posted by Waterdog
Not sure how this one got into my search results for "bowrider". Perhaps FR can help me figure out how to trailer this thing to our local 4000 ac lake.



Underpowered!!!

Yeah. That and no wakeboard tower makes it a “no” for me.


Always remember Rule #6.
#574109 - 08/12/20 07:51 AM Re: Current used boat market is crazy [Re: Waterdog]  
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Cape Cod, MA
Yes, the market for 'toys' is crazy right now. New boats are selling like I've never seen it and the inventory of used boats is probably at an all-time low.

I drive by 2 boat dealers on the way to my summer house . . . a Tidewater dealer and a Boston Whaler/Robalo dealer . . . the Tidewater dealer has been cleaned out of boats for about 2 months now and there are only 2 Robalo's left at the other dealer. BW's are all gone

Lots of short-term thinking going on now. So, what ever you can get in the used boat market is going to be at peak prices. I think there will be a reverse situation in 1-2 years, lots of these toys being unloaded and nobody there to buy them. (Think repossessions and short sales). Boat prices won't come down right away, because sellers typically try to hold out for the high asking prices.

I think your choice is either to be part of the crowd or wait it out. Also, it is getting to be a little late in the boating season, so maybe you might find some daylight in the boat market. Right now beggars can't be choosers, sorry to say. ouch

As far as the 2 boats you posted about . . .

They are both decent boats. The Chappy, having the new in-house designed/built 4.5L from Mercruiser and the SeaRay having the traditional 350 Mag. Not sure how the new 4.5's compare in terms of performance to the traditional GM based engines, but you may be able to find some Boattest.com information to compare performance.

The one advantage of the Chappy is that it is a lot newer and may have some nicer features. Either one is not a bad decision IMO, but if you are going to do skiing with a full load, then you probably want the biggest engine offered in a particular model. If you do have to 'settle' for something with less power, there is always the thought of going down a notch in the prop pitch to gain some water sports performance.

Last edited by tpenfield; 08/12/20 08:27 AM.

Regards, Ted

Formula 330SS

My Boat Web Sites
#574110 - 08/12/20 08:21 AM Re: Current used boat market is crazy [Re: Waterdog]  
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captkevin Online content
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Chicago, IL
Sell now & buy later


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#574111 - 08/12/20 10:45 AM Re: Current used boat market is crazy [Re: Waterdog]  
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captkevin Online content
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Have to admit I am tempted


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#574112 - 08/12/20 11:30 AM Re: Current used boat market is crazy [Re: tpenfield]  
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Waterdog Offline
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Virginia
Originally Posted by tpenfield
Yes, the market for 'toys' is crazy right now. New boats are selling like I've never seen it and the inventory of used boats is probably at an all-time low.

I drive by 2 boat dealers on the way to my summer house . . . a Tidewater dealer and a Boston Whaler/Robalo dealer . . . the Tidewater dealer has been cleaned out of boats for about 2 months now and there are only 2 Robalo's left at the other dealer. BW's are all gone

Lots of short-term thinking going on now. So, what ever you can get in the used boat market is going to be at peak prices. I think there will be a reverse situation in 1-2 years, lots of these toys being unloaded and nobody there to buy them. (Think repossessions and short sales). Boat prices won't come down right away, because sellers typically try to hold out for the high asking prices.

I think your choice is either to be part of the crowd or wait it out. Also, it is getting to be a little late in the boating season, so maybe you might find some daylight in the boat market. Right now beggars can't be choosers, sorry to say. ouch

As far as the 2 boats you posted about . . .

They are both decent boats. The Chappy, having the new in-house designed/built 4.5L from Mercruiser and the SeaRay having the traditional 350 Mag. Not sure how the new 4.5's compare in terms of performance to the traditional GM based engines, but you may be able to find some Boattest.com information to compare performance.

The one advantage of the Chappy is that it is a lot newer and may have some nicer features. Either one is not a bad decision IMO, but if you are going to do skiing with a full load, then you probably want the biggest engine offered in a particular model. If you do have to 'settle' for something with less power, there is always the thought of going down a notch in the prop pitch to gain some water sports performance.


Thanks for your review of those two boats. Based upon the premium prices, we have decided to wait until things shake out over the next 6 months or so. I agree that there will be, just like in the RV market, lots of used boats about this time next year. That is if we are able to return to normal, not a "new normal". I think people will start to realize, wow, this is a lot more work/maintenance than they originally thought, at least for RVs. I don't know what is going to happen with lake properties, but we're sitting on the sidelines now just watching that, too. We have a great RV (2019 Grand Design with bunkhouse for the kids), but due to rapid growth of our kids, we were looking at 2020/2021 rigs with larger bunks back in March. Inventory went to zero in May and dealers were less inclined to discount. So, we put the brakes on that, too. Same with a new tow vehicle - inventory is non-existent in trim level I want.

Our boat rental for Monday of this week fell through, so we didn't get the opportunity to teach the kids to ski. This is the second time our boat rental reservation has been cancelled due to inexperienced operators damaging the boats. The first time was due to someone not tilting/trimming down the outdrive and burning up the lower unit on a Chappy. That boat is still out of commission. This week, the boat we had reserved (Larson 248) was returned on Sunday with a damaged duoprop. They had to limp in to the dock. The props are beyond repair and have to be replaced. Probably some damage to the lower unit, too. Problem is, according to the rental company owner, there are no replacement props available right now. Another boat rental company on a different lake has posted on their website not to call them anymore because they are booked for the remainder of the season, there is no availability and their waiting list is full. We have their only ski boat reserved for Sep 11. We booked that date back in early June. We'll be camping at the state park on the lake that week.

We did take advantage of the craziness in the RV market back in June. We sold a 2013 camper for more than we paid for it. We had bought it for my wife to use since she manages music festivals and needed something smaller to tow behind her Tacoma, but since all festivals were cancelled this year, we decided to sell. Had people calling from as far away as Maine. I am restoring a 1966 Shasta Astroflyte. Wish I could finish that thing soon as we could probably get twice what it would have been worth at this time last year. But, my one year cosmetic restoration has turned into a 5-year and counting, skin-off complete rebuild/restoration. frown


Always remember Rule #6.
#574113 - 08/12/20 12:04 PM Re: Current used boat market is crazy [Re: Waterdog]  
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captkevin Online content
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Chicago, IL
Have been looking at trucks as well. When this started thought it would be a good time to find a deal. Boy was i wrong. In early March there were some decent deals & inventory but as we all know that quickly changed. Doesn't look like they are producing any new trucks as i don't see any of the inventory replenishing. Inventory levels continue to drop.


2004 Rinker 232
2010 Dodge Ram Crew Cab Laramie 4x4
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