Boat Price Reckoning

gimruis wrote:

<div class=”d4p-bbt-quote-title”>Jake D wrote:</div>
Id text the dealer back and tell him 30

I have a feeling that if its still available towards the end of this year when they need to make room for 2024 stock he might make an offer that they’ll accept.

Not sure that’s the case. I dropped into the local Lund dealer to grab a couple parts earlier this summer. He had one new boat and 6 used ones on the showroom floor. Said most new units coming in were presold. Prepped and delivered, never seeing the showroom floor. My guess a dealer would be happy to hit a boat show in January with a last year model in hand to sell. Think the desperation with dealers is still getting boats, not getting stuck with them.

I’m hoping to be in the market to upgrade in the next year or two so I’m checking the usual online ads on a pretty regular basis. Prices do seem to be relaxing overall, but yes there are still people trying to hit a homerun. The bigger dealers of all the major brands seem to have way more inventory than they had a year ago. And you’re seeing a lot more incentives and rebate offers from the factories. If I was a betting man, I’d wager that the average price paid for new and used has been dropping over last couple months. Not only because of time of year, but also that the supply/demand equation is shifting.

Joe Jarl wrote:

I’m hoping to be in the market to upgrade in the next year or two so I’m checking the usual online ads on a pretty regular basis. Prices do seem to be relaxing overall, but yes there are still people trying to hit a homerun. The bigger dealers of all the major brands seem to have way more inventory than they had a year ago. And you’re seeing a lot more incentives and rebate offers from the factories. If I was a betting man, I’d wager that the average price paid for new and used has been dropping over last couple months. Not only because of time of year, but also that the supply/demand equation is shifting.

Yep, I’ve been seeing the same thing. I just talked to the local Warrior Dealer and they were/are offering a $5K rebate on their 2023 boats. But, per-standard, they low balled me on my rig and were still 6 figures for a their boat, a 20′ tiller. It’s hard to justify that cost difference. We’ll see where it goes next year I guess.

I have been seeing new boats still
Dropping which is great. I did see an article recently that alumacraft is doing layoffs. Id imagine other manufactures will too.

Youbetcha wrote:

I did see an article recently that alumacraft is doing layoffs.

I heard that on the radio too. They are laying off 68 workers from their St Peter, MN plant due to declining sales.

I swear I just saw an ad for Lund boats offering up to $34k off a new boat. I dont know what model, but that is a ton of money off a new boat.

As for the Alumacraft layoffs, I’m wondering if that number matches the number of people they have hired since the pandemic. They were on a hiring spree as they tried to keep up with demand. So now they are back to their normal staffing.

CaptainMusky wrote:

I swear I just saw an ad for Lund boats offering up to $34k off a new boat. I dont know what model, but that is a ton of money off a new boat.

And I still wouldn’t buy one.
Sorry Lund guys I couldn’t resist.

The boat market was never going to tank. But demand has gone way, way down over pandemic levels and IMO, I think prices and demand are now lower and heading downward.

The demand for recreational toys is not infinite. A lot of people took the opportunity to scratch that itch during the pandemic on both new and used toys. Many of the ones who stuck with it now have the toys they want, so they aren’t heading back to the dealer or Marketplace anytime soon to stoke more demand.

And the ones who didn’t stick with it are flooding the market with both 2-3-year-old toys and even older units that pandemic buyers rushed out to buy and that they discovered they no longer have the time to use or ended up not wanting as badly as they thought. This is pushing down the used side of the equation.

It’s very noticeable on the used side of the market right now. Rigs that I KNOW would have been snapped up in days have been sitting on the classifieds sites for months. Some buyers are slowly cutting prices, but others are trying to hold on to get high prices, probably to cover loans.

Traditionally, October has been a terrific time to buy and a terrible time to sell, but on the seller side of the equation, this year is looking even slower than normal because the demand is just not there.

The guys who are really going to make out well this year are the guys renting storage. I can see a LOT of sellers out there being forced to pay for storage this winter in hope of better prices in the spring.

gimruis wrote:

<div class=”d4p-bbt-quote-title”>Carter Johnson wrote:</div>
I did see an article recently that alumacraft is doing layoffs.

I heard that on the radio too. They are laying off 68 workers from their St Peter, MN plant due to declining sales.

And Lund is still hiring. Or at least that’s what the billboard by my house has been saying for a year now.

Maybe if they were not the highest priced 21 foot glass boat on the market they wouldn’t have to offer the steep discounts.

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Ripjiggen wrote:

Maybe if they were not the highest priced 21 foot glass boat on the market they wouldn’t have to offer the steep discounts

Well I see it’s in stock right down the highway from me, at that discount I can’t afford not to go buy it, right?

Ripjiggen wrote:

Maybe if they were not the highest priced 21 foot glass boat on the market they wouldn’t have to offer the steep discounts.

Sheesh, that is insane!

I don’t do math in public but that Lund would end up costing around $209,176! But it is on sale.

I know Lund’s hold their resale value…but including the interest paid?

For the gamblers out there….you could buy my 2016 Lund 202GL with a 300 hp Verado today for $55,000 or…..you can wait until spring and see if I raise the price or if the interest rates are higher.

I bet it has low hours.
J/K

Alumacraft – are they or are they not moving some production down to Mexico?

Lund – Look at the price for a aluminum ProV 20 + feet and and who would buy without a $30,000 discount? Surely not worth the premium price that they think that they are worth….. And this is from some one that had owned Lunds for over 30 years.

Rip

Lunds are expensive but all the big glass boats are. A Vexus 20 footer is 100k.

MX1825 wrote:

Rip

Lunds are expensive but all the big glass boats are. A Vexus 20 footer is 100k.

Just a few years ago a Triton Allure 186 with a merc 150 was being advertised at their no haggle price of like 39K. Now it’s 52K. I once thought of buying one of those new but now I don’t think I’d really ever consider it.

TheFamousGrouse wrote:

The boat market was never going to tank. But demand has gone way, way down over pandemic levels and IMO, I think prices and demand are now lower and heading downward.

The demand for recreational toys is not infinite. A lot of people took the opportunity to scratch that itch during the pandemic on both new and used toys. Many of the ones who stuck with it now have the toys they want, so they aren’t heading back to the dealer or Marketplace anytime soon to stoke more demand.

And the ones who didn’t stick with it are flooding the market with both 2-3-year-old toys and even older units that pandemic buyers rushed out to buy and that they discovered they no longer have the time to use or ended up not wanting as badly as they thought. This is pushing down the used side of the equation.

It’s very noticeable on the used side of the market right now. Rigs that I KNOW would have been snapped up in days have been sitting on the classifieds sites for months. Some buyers are slowly cutting prices, but others are trying to hold on to get high prices, probably to cover loans.

Traditionally, October has been a terrific time to buy and a terrible time to sell, but on the seller side of the equation, this year is looking even slower than normal because the demand is just not there.

The guys who are really going to make out well this year are the guys renting storage. I can see a LOT of sellers out there being forced to pay for storage this winter in hope of better prices in the spring.

I look at the used market every day. 00-04 ranger 620s are selling for 8-10k less than they were last year already. They also sit a lot longer than they used to.

Brian Klawitter wrote:

I don’t do math in public

Omg, Brian, you just made my day with that line right there!!!

Speaking of resale value, I wonder what used late-model Toyota boats are going for these days?

MX1825 wrote:

A Vexus 20 footer is 100k.

And have the worst layout of any boat I have seen. Front deck is too high, seats in the back hit when you swivel them, no storage under console to name just a few.

CaptainMusky wrote:

<div class=”d4p-bbt-quote-title”>MX1825 wrote:</div>
A Vexus 20 footer is 100k.

And have the worst layout of any boat I have seen. Front deck is too high, seats in the back hit when you swivel them, no storage under console to name just a few.

Complete side track, but I agree.

I crawled around in one at a sports show a few years ago – not as a customer but just to see what the hype was about. The boat sure was pretty, and the fit/finish seemed nice. The layout was atrocious though.

MX1825 wrote:

Rip

Lunds are expensive but all the big glass boats are. A Vexus 20 footer is 100k.

Oh well aware.
I would not put Lund at the cream of the crop when it comes to glass however. Right now that is where they are priced which was my original point.

Back on topic market is slowing obviously. Time of year, inflation, non Covid time etc etc. Supply coming back to more normal is probably the biggest factor. Deep discounts on new have always happened this time of year. There wasn’t that option the last 5 or so years. New prices have now been set however IMO.

I have a buddy who has a nice ranger and he said the Lund is a much better boat. I didnt really ask for him to elaborate, but it sort of surprised me, but I will take his word for it.

The Lunds were made in the Sea Ray plant, i don’t know if they still are.

Cappy
I never said I liked a Vexus.
I was just saying a 20 footer was about the same price as a Lund 21 footer.

MX1825 wrote:

Cappy
I never said I liked a Vexus.
I was just saying a 20 footer was about the same price as a Lund 21 footer.

Oh, I know you didnt I just for some reason to point that out.

MX1825 wrote:

Cappy
I never said I liked a Vexus.
I was just saying a 20 footer was about the same price as a Lund 21 footer.

Well same price after it’s discounted 40k.

Ripjiggen wrote:

Well same price after it’s discounted 40k.

Just shows how inflated the pricing is on the lund. No doubt they are still making a ton of money on them at 100k.