Has the tide turned?

[seasick]

After several years of above average increasing demand, inventory challenges, and inflated pricing, I think I am now seeing changes in the boat market. I usually judge by the amount of asking price decreases and those seem to be increasing.
There are a few shows coming up over the next several months and I am curious in how the new models are being priced and if there are attractive discounts. Yes it wasn't that long ago when there were no discounts and the used market was insane.
Do you have the same thoughts?

 

[McBobKC]

Yup

 

[Mustang65fbk]

It's all about supply and demand. I remember a few years ago back in 2020 when "normal" items went up like crazy in price because everything else was shut down. Anything outdoors especially... from bicycles to kayaks, canoes, workout gear, weights and weightlifting equipment, etc. The same thing was/is true for boats, cars, RV's/trailers and so forth. I built a small home gym in one of my spare bedrooms because my gym had closed down almost the entire second half of the 2020 year. Before, you could buy weights/plates for around $.50/lb and then it went up to over $2-$3/lb for certain items. I bought 520 lbs worth of weights and paid $1.50/lb for them when a few months to a year before that, they would've been half the price, maybe even less. All in all, a little bit frustrating that I built a small home gym when everyone else wanted to do the same thing and paid a premium for the weights. That being said, I was spending over $30 a month for my gym membership, which I haven't had now for over 4 years now, so I'm definitely money ahead. It was also very much worth the money to help keep my sanity, or what little is left of it, and to be able to stay healthy/relieve stress in a healthy manner.

 

[PointedRose]

What I am seeing is that there are more boats listed, priced still higher than I would expect, but they are not selling when listed high and no adjustment to pricing. As soon as the price drops a bit closer to reality, the posting is gone. When something is priced reasonably there are still buyers out there. What this tells me is that people are trying to recoup what they paid during expensive times.

I think the best deal to be had is a late 2010s or newer model. Not that many people can afford $30k $40k $50k etc boats, so I think the ones that bought a few years ago, and have sat without much use, are coming back to market.

I was just looking at a posting for an early 2000s regulator with a brand new engine 50 hours. It seems too good to be true, maybe so.

I’m padding the boat fund and hoping stock market keeps running up, and boat prices drop. Expanding family may delay my plan. Will be interesting to see how the next 6-12 months go for the boating market. I’m finding better availability in SoCal than Bay Area in the west - got my eye on one for a potential road trip if the stars align and if it doesn’t sell for a while. I keep an eye on the northeast as well, especially this time of year.