Are we delusional on our boat's values?

[Mandelon]

I see so many boats in the spam section, and not much seems to be selling. Even the ones we all "know" are total bargains. Are they????
I know its not the season, but I will be curious to see if they start moving in the spring.
I have to imagine a new boat is going to take a 20% hit as soon as it leaves the dealer's....new boats are so pricey.....Hmmmmmmm:supp:
All the DCB ballers don't seem to worry about paying over a thousand dollars an hour to run their boats, but I see lots of small flatties, old style jets and circle type boats for sale, and don't see many SOLD notices.
Your take?

[Brian]

I am quite sure that I would lose my arse if I had to sell the Magic right now. I'd say definitely a buyer's market.
:cry:

[wsuwrhr]

Kinda like houses.
Except the houses I try and buy.
Brian

[whiteworks]

you bet your ass were delusional on our boat values. The fact is there is somthing magical about boats that make a wise man spend like a drunken sailor. We see the shiny stuff and loose all rational thought "kinda like woman and diamonds". when I look at my boat I remind myself of Homer Simpson looking at a doughnut. lets face it boats are a shitty investment, do we care hell no. everyone is entitled to make bad financial choices and I for one think that buying my boat was the best worst decision I ever made.

[OutCole'd]

I'm doing OK I think. I have a buddy looking for a boat similar to mine. He got a quote from Magic on a used boat same year as mine with the same power. 2k less than what I paid for mine.
I know I would loose something, but I doubt it would be a lot.

[Havasu_Dreamin]

First off, no one should be buying a boat as an investment in anything other than good times. Also, some boats will hold their values very well because of the builder, quality of construction and some just on name alone.

[NashvilleBound]

you bet your ass were delusional on our boat values. The fact is there is somthing magical about boats that make a wise man spend like a drunken sailor. We see the shiny stuff and loose all rational thought "kinda like woman and diamonds". when I look at my boat I remind myself of Homer Simpson looking at a doughnut. lets face it boats are a shitty investment, do we care hell no. everyone is entitled to make bad financial choices and I for one think that buying my boat was the best worst decision I ever made.
I have to agree with Havasu Dreamin...did I just say that out loud??????.:rolleyes:.. anyways, You should never buy a boat as a monitary investment. Its an investment into your recreation, relaxation, parties...whatever your gig is. And this woman and diamonds talk.....hmmmm.... I might not be too sharp on the woman stuff but the diamonds are given allot of thought before investing. Its too bad you feel your boat was the worst decision you ever made. Do you not have a good time on it? Relax on it? Party???? When i hit the lake and come back exhausted I feel its worth every penny. :D :D :D

[JPA]

I noticed in this months issue of ***boat the 28 Boss from Group1 was priced at 83,955 with a 496. That sounds like a good deal compared to some of the other prices. The 24 ft HTM with 600 hp is priced at 95k for what a 4 ft smaller boat and 200 more hp. 165K for the Lavey WOW. I see used 03 and 04 26 ft DCB's for sale with twin 300 X's and single 525's that I am sure had to have an original cost of 125 to 150k or more that are for sale for 75 to 90 k. Now maybe in the boating world thats considered holding its value but not in the real world.
These boats are all beautiful and I know the builders spend a lot on the labor alone not including the motor drive package trailer etc to make them look like they do when they roll them out of there shops. One day I'll step up and get one.
Just my .02:)

[Havasu_Dreamin]

I have to agree with Havasu Dreamin...did I just say that out loud??????.:rolleyes:..
Aw, c'mon, I'm not THAT clueless.....well maybe.....:p

[eliminatedsprinter]

I see so many boats in the spam section, and not much seems to be selling. Even the ones we all "know" are total bargains. Are they????
I know its not the season, but I will be curious to see if they start moving in the spring.
I have to imagine a new boat is going to take a 20% hit as soon as it leaves the dealer's....new boats are so pricey.....Hmmmmmmm:supp:
All the DCB ballers don't seem to worry about paying over a thousand dollars an hour to run their boats, but I see lots of small flatties, old style jets and circle type boats for sale, and don't see many SOLD notices.
Your take?
The rule of thumb I learned is that a new boat loses 1/3 of it's value when it leaves the showroom. The only exceptions I have ever seen to that rule are high end yachts and wooden classics, like an old Gar Wood or their Mahogony Chris Craft knock offs etc......

[djunkie]

Within the last year I've had 2 different people offer to buy my boat for $2k more than I payed for it 6 years ago. I should have sold it.

[Mandelon]

Yeah, more billet for the Rhino.... :hammerhea :D

[Kilrtoy]

Within the last year I've had 2 different people offer to buy my boat for $2k more than I payed for it 6 years ago. I should have sold it.
Now they are truely delusional people or just high on drugs...
but then again didnt you steal that thing

[Kilrtoy]

And to answer mandy's question, yes almost all boat owners who are selling are on crack, even thou I would not tell them that

[whiteworks]

I have to agree with Havasu Dreamin...did I just say that out loud??????.:rolleyes:.. anyways, You should never buy a boat as a monitary investment. Its an investment into your recreation, relaxation, parties...whatever your gig is. And this woman and diamonds talk.....hmmmm.... I might not be too sharp on the woman stuff but the diamonds are given allot of thought before investing. Its too bad you feel your boat was the worst decision you ever made. Do you not have a good time on it? Relax on it? Party???? When i hit the lake and come back exhausted I feel its worth every penny. :D :D :D
I guess that my post was not clearly written. I do not feel my boat was the worst decision I ever made. I love my boat and enjoy every minute I get on it. I did not buy it as a monatary investment. I bought a brand new boat because I wanted to spend my weekends at the river on the water, thats exactly what I got. Was it worth it? you bet your ass:)

[NashvilleBound]

I guess that my post was not clearly written. I do not feel my boat was the worst decision I ever made. I love my boat and enjoy every minute I get on it. I did not buy it as a monatary investment. I bought a brand new boat because I wanted to spend my weekends at the river on the water, thats exactly what I got. Was it worth it? you bet your ass:)
Muchos Betterass ;)

[djunkie]

but then again didnt you steal that thing
No, I paid for it. :D

[Mandelon]

No doubt we did not buy to make money, although it has happened. But usually only because the buyer got a really good deal.
Looking at how slow the market is, it makes me wonder if we all haven't got wacked by 50%......I am really curious as to how the west coast builders are going to do over the next couple of years......
Spam section sure has a lot of stuff in it....

[jbtrailerjim]

I'm waiting until spring and then I'll decide if I really want to sell my boat or not. If the used boat market is still slow and people are having to drop their prices a lot to move them; I'll just hang on to mine and enjoy it.
The boat builders will have a big affect on the values of our boats. If they are not selling, I'd expect to see a lot of builders lowering the price of a new boat. IMO..I think new boat prices are ridiculous.

[Havasu_Dreamin]

I am really curious as to how the west coast builders are going to do over the next couple of years......
Some will be ok, others not so ok.....Glad we already sold ours.....

[BILLY.B]

Yeah, more billet for the Rhino.... :hammerhea :D And you guys think that boat prices are over the top. Rhino's are absurd!!!!

[SHOTKALLIN]

The boat builders will have a big affect on the values of our boats. If they are not selling, I'd expect to see a lot of builders lowering the price of a new boat. IMO..I think new boat prices are ridiculous.
As long as they don't lower the quality.

[Essex502]

I think all of the builders - West as well as East Coast - are going to feel the drying-up of the "equity bank" that folks have been tapping to buy these over priced toys. Don't get me wrong...I enjoy them too...but the prices are getting so far from the reality of the average boater that sales will suffer. I am sure that many, many people on this and the other boating boards have tapped that equity to purchase their toys and that surely will change as the housing prices drop and equity disappears.
Boats as investments...not in any way shape of form. They are pricey toys. Toys are disgarded when we are done playing with them. If we get something back when we disgard them that is purely a gift. Resale value is only valid when there are buyers.

[Trailer Park Casanova]

you bet your ass were delusional on our boat values. The fact is there is somthing magical about boats that make a wise man spend like a drunken sailor. We see the shiny stuff and loose all rational thought "kinda like woman and diamonds". when I look at my boat I remind myself of Homer Simpson looking at a doughnut. lets face it boats are a shitty investment, do we care hell no. everyone is entitled to make bad financial choices and I for one think that buying my boat was the best worst decision I ever made.
Good take.
This summer '07 will be the eye opener.
I think they've been overpriced as it was.
Perhaps a big correction?

[hotlavey]

I think all of the builders - West as well as East Coast - are going to feel the drying-up of the "equity bank" that folks have been tapping to buy these over priced toys. Don't get me wrong...I enjoy them too...but the prices are getting so far from the reality of the average boater that sales will suffer. I am sure that many, many people on this and the other boating boards have tapped that equity to purchase their toys and that surely will change as the housing prices drop and equity disappears.
Boats as investments...not in any way shape of form. They are pricey toys. Toys are disgarded when we are done playing with them. If we get something back when we disgard them that is purely a gift. Resale value is only valid when there are buyers.
I believe the boat bubble burst happened before the housing bubble burst, but I assume they are related.

[Mandelon]

I love my ride, but I don't like to think about the difference between how much I think its worth, compared to what I could really sell it for.........:sqeyes:

[cyclone]

its not the boats themselves that are out of line as far as pricing, its the propulsion packages in new boats you have to choose from. biggest rip off i've ever seen.

[MikeF]

its not the boats themselves that are out of line as far as pricing, its the propulsion packages in new boats you have to choose from. biggest rip off i've ever seen.
137,000 for an "upgrade"...........:devil:
Maybe I should become an engine vendor.

[HocusPocus]

just going by the the old boat traders i found in my garage, there are approx twice as many boats for sale this winter than in the previous 2 winters. also in the previous years traders you would find very few newer boats, now there are a couple pages of them, even same model year boats. im sure the housing market and the "free" equity many people cashed out on to buy these toys with are now feeling the pinch. i have a feeling that this spring the used boat market will be flooded even more as many are waiting for the weather to warm up hoping to get more for their boats. there are several really nice deals on boats in the traders and the spam section with very few selling even as the prices are dropped. just as homes are staying on the market longer in many areas, so it seems to go for the custom boats. with so many folks in situations where they have to sell their boats, its going to make it tough for those wanting to sell their boats to get the most $$ out of them.
but i could be wrong. :)

[bigq]

just going by the the old boat traders i found in my garage, there are approx twice as many boats for sale this winter than in the previous 2 winters. also in the previous years traders you would find very few newer boats, now there are a couple pages of them, even same model year boats. im sure the housing market and the "free" equity many people cashed out on to buy these toys with are now feeling the pinch. i have a feeling that this spring the used boat market will be flooded even more as many are waiting for the weather to warm up hoping to get more for their boats. there are several really nice deals on boats in the traders and the spam section with very few selling even as the prices are dropped. just as homes are staying on the market longer in many areas, so it seems to go for the custom boats. with so many folks in situations where they have to sell their boats, its going to make it tough for those wanting to sell their boats to get the most $$ out of them.
but i could be wrong. :)
That is a scary thought...not the boats on the market longer, but that you keep boat traders for years..http://www.planetsmilies.com/smilies/rolleye/rolleye0002.gif
If yor right I wonder if new builders will need to drop prices in order to move boats. That will really kill the used market.

[HocusPocus]

That is a scary thought...not the boats on the market longer, but that you keep boat traders for years..http://www.planetsmilies.com/smilies/rolleye/rolleye0002.gif
If yor right I wonder if new builders will need to drop prices in order to move boats. That will really kill the used market.
they could be collectors items some day :D
my wifes picks me up a boat trader once a month when she is at the store, the old ones get tossed in a bin in the garage and eventually get recycled. I would love to go back 5 years and see how many customs were listed then.

[Ivan Dan]

The rule of thumb I learned is that a new boat loses 1/3 of it's value when it leaves the showroom. The only exceptions I have ever seen to that rule are high end yachts and wooden classics, like an old Gar Wood or their Mahogony Chris Craft knock offs etc......
I bought an 04 Magic Deckboat in November of 03 took posession in January of 04. Paid $80k for it and sold it in July of 2005 with 55 hours on it for $81,500. I know this definitely isn't the norm though.

[rrrr]

I know "cookie cutter" boats don't count......:D
But our Chapparal 256 seems to be holding value OK according to NADA. I think we paid $56K for it in February '04. Typical boat show price was $63K. We did a little better because the dealership is owned by family friends.
So according to the guide, average retail is almost $52K. I'd be surprised to get that much, I've seen 'em on boattrader.com in the mid 40's. But I spent $4K on the stereo, and we all know you get your money back for stuff like that....;)
But my wife and I have never considered a boat an investment, just a payment for fun and entertainment. Paying around four hundy a month for a big roomy bowrider with a 496 and a sit-down enclosed head for the girls is a good deal IMO.
Who's gonna keep a boat until it's paid off? Not many people, I'd think.

[My Man's Sportin' Wood]

We flew over your house last week. Did you see me wave???? :D

[rrrr]

We flew over your house last week. Did you see me wave???? :D
LOL!! We thought that was you.... :D :D

[eliminatedsprinter]

I've put about a bizzilion dollers (give or take) into mine and I'd guess it's worth about a chicken sandwich and an order of fries.;) But it's money spent on fun on the water, not an investment.:)

[RT21]

I am not sure which is a worse investment, my boat? or my Enron stock.

[Da Twins]

If you use your boat & have fun
whatever you paid for it is money well spent
Dan

[Havasu Carrera]

My dad bought our 74 Kona for 3600 or 3200 in 1976 and sold it 25 years later for 3200 replaced carpet and rebuilt motor once. Used it thousands of hours. Fun figure??

[scooooter7]

More boaters equals more boats on the water.
More boats on the water equals more boats for sale so they can buy a new one.