Used Boat Prices - High?

[BubbaB]

@wellpastcold

Even trucks and snow machines nowadays I only buy new for the same reason.

Two winters ago we got back into snowmobiling. Brand new off-trail utility snowmobile is roughly $10k, and all the 3-4 year old used ones were like $8,500 or $9,000. Are you kidding me? Sure they only had a couple thousand miles or less, but there's just no way I'm going to buy used for a 10% difference.

Twenty five years ago you used to be able to buy a nice loaded 1/2 ton truck that was 3-4 years old, maybe 40,000 miles, for 50% of brand new price. You could run it for another 3 years and sell it for almost what you paid - I did it a number of times. The big depreciation was all in the first 3-4 years. Today, at least in my area, I find the depreciation is almost even every year from year 1 until 7-8 years, then anything older than that is almost worthless. So unless you really want (or can only afford) a 10 year old vehicle, there's no point buying anything except brand new in my opinion. You'll lose the same amount on depreciation during the first 3 or 4 years as you will during the subsequent 3 or 4 years.

[BubbaB]

The who? LOL.

[goat704]

That goal was all the way in

[That Minnesota guy]

Originally Posted by BubbaB

@skeeter012
EXACTLY. x2.

@3m ta3
Thanks man! I'll keep an eye out for it.

@minnesota guy
I don't know what set you off, but whatever...

Didn't know anything set me off. Of the million or so things that could have the Wild certainly aren't in that count.

[Jtracc]

Originally Posted by BubbaB

Started shopping for a used boat recently. Fishing boat (maybe tow the kids on wakeboard 4 or 5 times a year) on a variety of smaller and bigger Northen Ontario lakes, tiller, 16-18 foot, ideally 60-90 hp. Looking for 2010 or newer, probably Lund Fury XL, Rebel XL, maybe an Outiftter or Alaskan. Ideally I'd love a brand new Lund Pro Guide 1875 with a 115 on it, but that's just a ridiculous amount of money for the amount of time I actually get out fishing.

Has anyone else noticed the high prices for these types of used boats?

I can go on the LundBoats.com website and "build" any current model, brand new boat exactly as I want it and see the price. Someimes including a factory discount for certain motors. Then I add estimated freight & PDI, and deduct 10-15% for dealer discount and I know exactly what I would probably pay. Then I search for used boats in various places online and I see the same boat 5 years old with average use and the guy wants 80-90% of new value. Many boats 10 years old and they still want 70% or more of new value. What the heck?

Ten years ago I really didn't care how old the boat was (motor yes), but today with substantial improvements to motor technology, storage and layout, and hull design, 10 years makes a big difference. And at that age chances are you're going to inherit someone else's problems with rotting floors, worn out carpet - not to mention motor maintenance.

Sure, sometimes it has a trolling motor and fish finder and some extras on it, but usually these are outdated and really don't add to the value in my mind.

Whatever happened to "as soon as you drive it off the lot you just lost 40-50% of the new price?

If your Canadian like me, then yes the prices of boats have gone up big time. Used boats even more so. With the high cost of new boats, for example a Lund 1650 rebel with a 60 hp and basic electronics after tax will run over $30 grand. I'd say $29-$33 grand depending on add ons. Because of these rediculas prices shoppers are opting to not buy new or keep their current boat. So there is no used inventory, driving the prices up. Now I have seen a used 2012 rebel with a 75 merc localy the guy wants $25 grand. I have a 2012 1750 fish hawk new in water 2013 and I have been offered $25 grand and I prob could have asked $28. Boat is loaded. Only issue is a new rig let's say similar rig new 18 ft with 150 is gonna run me $50 grand. So I will not be selling. This is the reason for high prices.

[Slim03]

Yes used prices are high but still a lot less than new. If you are willing to wait and shop around you will find what you want at a decent price but you maybe have to be willing to move on it site unseen. That is what I did on mine that I just bought. Spent 2 years shopping for the models and options that I wanted and finally found a good deal 6 hours away. Pulled the trigger on it even though I had not seen it in person and had not water tested. Couldn't have been more pleased and could easily sell the boat for more than what I had purchased for. Just takes a lot of time and watching and what you are looking for will show up at a fair price. Need to look at fall and winter time for the best prices, also helps keeps the emotions out of it because you know you can's use it right away.

[CKM]

this is the silly season. wait till Nov/Dec to buy a used one.

[Thumpr50]

Used boat pricing is primarily a product of new boat pricing. I am not currently buying or selling so my view is not swayed one way or another although I keep an eye on it as I will likely be looking in the next 2-3 years. Particularly with the type of boat you are looking for demand is high and it is definitely a sellers market in my opinion. With new boat pricing continuing to move upward, the pricing on used follows along. I agree if you are patient some buys can be had, if you find what you feel is a good buy move quickly, it won't last long.

[Black98TransAM]

I sold a 20 year old alumacraft this year for 6500 dollars. 70 evinrude (rebuilt powerhead 1 year old), 2 Elite 5 HDI's, Powerdrive V2 55# with I pilot.

Guy was just on a facebook group asking about a 1994 Alumacraft Competitor, 97 115 ELPTO, 70# powerdrive, 2 graphs (1 with GPS). Guy was asking for 6K and the majority of people agreed that was a fair deal.

I check craigslist 4-5 times a week for boats just because I like to see whats out there and torture myself every now and again when a great deal pops up. Fall is the best time to buy. If a good deal pops up it will not be there for long.

[MadMan]

When I was looking at buying a "New to me Rig", there were 4 y/o models with less HP and options for about the same price that I paid for new.
$2K savings is not going to sway me to buy used.....

Now maybe asking price and what these boats actually sell for is something different, but I don't think so.

And as BubbaB said above, there is even a bigger disconnect in Sleds.
I buy 2 new ones every other year. It's not even worth my time to check craigslist, etc...