Boat Prices are Insane

[Baxter]

Is it just me or are boat prices insane?

I just bought mine in August. A 2020 model, very low hours, under 10! I thought the price was reasonable, but a tad on the high side. Then last week, I saw basically my identical boat for sale, only 3 years older and with a few hundred hours. Price was nearly $10k more than I paid for mine.

I am not sure if I got a killer deal. If the seller of this other boat is just over-reaching. Or if prices have jumped substantially in the last 3 months.

I love my boat. It was my dream. BUT I am seeing a possible opportunity to sell it for a decent profit! That is just crazy. (I won't sell it, but I can't lie - thought has crossed my mind!)

 

[walleyes]

They are definitely going up seems most things are. Used sleds are crazy around here this winter as well, not sure what it is.

Keep in mind you sell yours you’ll just have to replace it at the current prices. If I were you I would be happy you got in when you did and just sit on it and enjoy.

 

[fishin solo]

Everyone has to stay home now so naturally theyre finding other things to do....such as vacations etc so prices go up with demand. Hard to find a better way to do something fun with the family and still be isolating then on a boat, at a cabin on sleds etc etc. Gotta spend the money somewhere, glad it’s staying in country

 

[RiverBoy]

$10 k isn’t really big profit in the boat price point you have, especially when you factor in taxes etc. your boats a beauty. like was mentioned; the. you’ll be in that crazy market looking again. only i see this making sense is if you have no problem downgrading.

 

[cletus]

You could do the same for houses.But once you sell,try replacing it.

 

[seahorse]

It’s simply called COVID inflation...

 

[zurk]

im getting hits with my ridiculously priced KF at $30K above NEW. no harm putting it on the market for a quick profit. keep it in the bank and buy something else next summer. im always looking for brand new boats to turn into projects anyway.

 

[Rain City]

You can do the same thing with money on a computer screen that doesn't take up space in your home.

 

[zurk]

you cant take money on a computer screen out on the ocean or lake....

 

[Rain City]

you cant take money on a computer screen out on the ocean or lake....

No, no you can not...

 

[ReelSlim]

No, no you can not...

I highly recommend both...lol. At least Covid has been good for one thing.

 

[Rain City]

I highly recommend both...lol. At least Covid has been good for one thing.

God can you believe it?! Time to start a trading thread?? LOL

I swear though it's like someone came and dropped hundreds of thousands of dollars into undeserving businesses laps so they all threw it on black.

And by black I mean Bitcoin and Tesla

 

[wildmanyeah]

my real estate agent told me all his colleagues were taking the covid business loan and buying toys or investing it. 40k load and only 30k is repayable.

 

[Baxter]

$10 k isn’t really big profit in the boat price point you have, especially when you factor in taxes etc. your boats a beauty. like was mentioned; the. you’ll be in that crazy market looking again. only i see this making sense is if you have no problem downgrading.

Don't get me wrong. I am not selling. I love my boat. But the idea of making a profit on a depreciating asset is bonkers.

And $10k profit seems pretty damn good to me after 4 months. To make even $1 profit would be a miracle really - value goes down the moment you sign the papers (usually at least!) I would rather have the boat though!

(Oh, and to clarify, the boat I saw listed was $10k more than I had paid after taxes, so ya, basically $10k profit if I wanted to sell. Crazy.)

 

[Baxter]

You could do the same for houses.But once you sell,try replacing it.

Difference is, houses appreciate and boats depreciate (at least in a normal world).

You are right though, finding another boat at the price I had paid would be near impossible. I would rather have the boat than the profit.

 

[Baxter]

im getting hits with my ridiculously priced KF at $30K above NEW. no harm putting it on the market for a quick profit. keep it in the bank and buy something else next summer. im always looking for brand new boats to turn into projects anyway.

If you do end up selling, I would be curious to know what you actually were able to get (PM is fine!). Again, I don't want to sell, but if the numbers are high enough I feel like I would be a moron not to!

 

[cracked_ribs]

God can you believe it?! Time to start a trading thread?? LOL

I swear though it's like someone came and dropped hundreds of thousands of dollars into undeserving businesses laps so they all threw it on black.

And by black I mean Bitcoin and Tesla

I'm in for a trading thread... this year has been wild.

 

[Fins -n- Skins]

Everything is for sale.. Everything has it price. As they say this won't last forever !! There is always another boat out there or whatever.

 

[seahorse]

I used to think that boats were a depreciating asset until I sold my 2000 542 Campion this spring for more than I paid for it 11 years ago. It’s just simple supply and demand at the moment and I looked after it, stored under cover and kept it mint. I could have sold my new to me Seafarer this summer multiple times for more than I have into it, just Covid inflation.

 

[Enniberg]

At least it makes me feel better about the money spent on owning a boat!
I suspect that the border being closed is probably adding to the upward pressure as there is limited access to east coast bargains.