I hope so. Prices of new boats have gone crazy.

.... First I need to purchase the +75K $$$ truck to tow the boat ... then I need another 50-100K to buy a nice used outboard ... and note I do own a house w/ enough property to store the boat at already ...

It's not just the boat market, it's the car, truck, r v and motor home market that's in trouble.

The recession hasn't even hit yet.

Seeing reasonably priced used boats but they don't seem to be moving as quickly. Everything points to the interest rates. 8% new and 10-12% on used is holding people off from buying. If boats were still 30-50k it wouldn't be a big deal, but when you're looking at 100+ and financing for 10-20 years, that 100k boat becomes 200k. Not worth it for a lot of folks.

I want to move up to a 25' CC. But I'm not paying 200k for a 25' boat.

Boat market on the Nature Coast of Florida has been stagnant for a year, new and used and were a year round boating paradise.

New boats are such a rip-off

friendly advice, and I mean this will good intentions, the Fed dropping rates doesn't mean anything for the interest rates we will pay on money for boats. It is up to the commercial banks on what risk they are willing to take on these loans. The reason the Fed will drop rates is that the economy is suffering (at the same time inflation says higher), therefore the banks will be seeing these loans are riskier, therefore the spread between the 2 year short term risk-free, which the Fed can "control" and the risk rate we pay will widen.

Saw this coming a mile away!!! I was building speed boats for a west coast brand 2 yrs ago and best thing I could've done was switch over to HVAC. The owner and sales manager seemed like they just wanted to scheme as much money out of suckerz before the bubble burst.

great video, i am in the banking industry. loan demand has really dropped

Awesome update! I live is SE Florida and am still seeing people asking what seems like 20-30% or more above JD Power retail (for what that's worth). I and many savvy buyers are not dumb enough to pay original list on a 10-15 year old boat which is still a depreciating asset last time I checked! Car and boat insurance premiums are up double digits, especially in hurricane markets which will weigh on the market. Maintenance cost and wait times is up a lot (not likely to drop back due to labor/parts cost and availability) and the stock/home market is due for a big correction. Continue to hold dry powder for the sale of a century unless something great comes along in line with "normal" pricing. 😏

The market is crashing. I work on boats for a living and its getting really hard to get jobs. People can't afford it anymore and they're either trying to get out of it or trying to fix it themselves. The biggest issue is the cost of living has destroyed this market. The only people who make money of boat work now is detailers or hull cleaners it seems.

I have 1975 Boston Whaler Sport. Looks like new. Fresh water use. At almost 50 years old, this great little craft still does all it was made to do. Bought it with trailer and 70hp outboard for $2500. Today, these same 15 footers with motor and trailer will set you back close to 50 grand, and mine has gorgeous mahogany seats and trim. Ridiculous. The price of fun is stupid.

Prices are staying the same that’s it I’ve watched boats become unattainable and it’s not going to change anytime soon

I always enjoy your insightful perspective on the boat market. I don't know anyone that does it better. I'm not in the market currently but I enjoy understanding what the market is doing. I am always happy when I see that my 2018 Boston Whaler 170 Montauk is still worth about what I paid for it 😁 . You have business savvy!

The used boat market is definitely coming down. Some sellers are in denial but I’m seeing boats that were $28k 2 years ago going for $14k now. If interest rates would drop I would buy

I'm looking forward to an update on this video. I'm watching Cobalt and Regal, and in addition to the advertised OEM money, some dealers are getting aggressive. I'm looking forward to prices in Q4 2024. Lots of layoffs in the industry and lots of new inventory out there. I'm a cash buyer looking for a serious deal. Weren't there yet.

Manufacturers will keep the prices high and pocket the additional profit from the cheaper materials..once they know we will spend x amount on y product, it never goes below that figure again

Absolutely! My brother got a 2023 New never titled and fully loaded Cobia 320 for $260k out the door. I think it was $340k previously.

I work in the industry and layoffs have started happening with BIG production builders. Things have gotten out of hand and it’s time for a big correction.

Love your channel. Will be buying used this year and paying cash. It seems crazy to get a 15 year loan for a depreciating asset.

i work in the custom boat industry in lake havasu az, and yes, huge slowdown.....went from a 3 year backlog in 2020, to no sales, stock boats on hand.........bidenomics

great video i am a marine tech pushing 40 years in this industry

During Covid, people bought boats not even knowing what they were getting into. Now that the payments and maintenance is getting old for these people, they have to unload them. I've had boats for the last 55 years. Buying a boat is not a picnic if you don't know how to take care of them.

really great analysis. love the way you pieced together data to support your views in a market that's not so easy to get numbers for

I just bought a brand new 2023 Starcraft for about $15k off retail.

Boat prices are absolutely insane so hopefully so

Stavros in Florida caught your video and enjoyed it, I recently sold my177kw, I will look to purchase another boat possibly this November depending if sellers are motivated, I hope to find a good 5 to 7 year boat. Again thank you for the video, Stavros.

I have a Wellcraft 26 Excel Express Cruiser on South Florida craigslist $14.500 in very good condition.

I wish you were right but not what I’m seeing where I live.Ive been in the market for a boat the last 2 years but I refuse to get a loan for 50k for a boat that’s 15 years old and the new models are 100k when I know damn well in my head that’s a 50k boat…Prices are so ridiculous I don’t see how anyone can afford these boats..Went to a local boat show and 40-50 boats that were over 90k had sold stickers on them I couldn’t believe it..Maybe I’m just getting old

end of 2024 market will be when these greedy dealers and manufactures take the biggest hit. like I said on your last video... local dealers are refusing deliveries on 2024 stock with rebates. Went to a boat show a year ago. I told the sales man straight up it wont be long before the manufacturer has to issue rebates for boats sittings. I just looked at a 23 parker the boat looked like it had been sitting on the lot for years with all the dirt and scum all over this new boat. and it was a left over 2023! I have no sympathy for these clowns. they were first to gouge customers now they can sit on their inventory till its pennies on the dollar then Ill pay cash! and if you buy right now I got some land to sell you in the Everglades

a contender 24s just 3 years ago was 100k its 150k right now come on this dude isn't close to reality the boat vendors are planing on pricing themself out of the market none is signing up to pay 150k for a basic boat @ 11 %

Just bought a used Tritoon for such a deal, that even if the boat market does crash, I'm still gonna make money on the boat years from now.

Definitely best ever made keeps getting better. Crazy high fuel costs and a ton of innovation definitely pressuring the Industry excepting Boston Whaler and Sea Ray which never really seem to go down in value. Great report.

I have owned eight boats and I will never buy another.

Boat prices haven't changed at all. I look everyday . Click bait here.

With the interest rates on boats being so high, something has to give. Many boat manufacturers have laid-off staff, that can't be good.

One has to think that there was a huge influx of new boaters and a lot of people stretched themselves as well and will not be able to stomach those big payments much longer. It’s going to crash hard…

so producer price index has dropped to before covid level...yet the boats remain 60k plus more then precovid level!.. please make this make sense!

Hey thanks for the video. Reference 16:50 used boats for sale. I also thought boat trader was where to go and we are dead wrong! I went to market place and the inventory is getting huge for average runabouts.... You might want to do an update.

Evinrude-large manufacturer of boat motors-just laid off 350 workers.

If boats are in a recession then why did the average price for a 1st generation Hinckley 36 picnic go from $200K 5 years ago to $300K now. They are only 5 years older and 50% higher with more hours on the engines. Doesn’t make sense to me, I believe a price reset is coming.

Bought a boat on marketplace for 400 bucks a year ago about to have a turnkey brand new 1970 speed boat with most of the tricks from 2024 including a new motor. I’ll be in the boat for 10 grand by the time I’m done and I’ve had offers for 25 grand. My boat will do nothing but make me money.

Boat interest rate too high 7% to 8% Dealers need to come up with dealer financing to 2% to 3%

Compare average income increase over the last 25 years to average boat and truck prices. Way higher increases in truck and boat prices than in income increases.

I just sold my hatteras for 98k more than I paid for it. We closed last October. Now I just purchased a cirrus vision jet new for a broke back mountain price!

I sold mine last year.. I'm just gonna party on my friends boat.

It's gotta be.... motorcycle market crashed already.

Yes

Most boats are bought by people with household incomes of around 79k a year. These people love debt, it's a bankers racket.

On the crystal coast (north Carolina) there are more used boats for sale than there are used cars.

Good info, thanks. Maybe you can talk about real interest rates on new and used boats. Ex: What would the lender loan on a 5 year old boat? Are rebates possible from manufacturers? Also, JD Power bought NADA and Kelly BB? How does a boat seller value new and used boats? Lots of moving parts...

Stavros in Florida add on to last comment I believe in September a lot more used boats will be offered for sale...

It needs to crash and reset in realistic ranges just like the truck marked. Greed has lead to these enormous prices and they started way before COVID hit.

I am Looking for 2 new boats and i have went to almost all the boat yards in my area, and the yards are runneth over with supply. and to have a boat built is just a few months from most of them.

I don’t think there is a boat crash and I’ll tell you why. I found a 2009 Monterey 234 FS bow rider on FB Marketplace for 23k, including trailer. Instead of this being a private party, potential purchase, it was a broker representing this vessel. Right off the bat, she tells me that their is a pending offer that came in Sunday. The idea from this broker came up that if I pay full listing, it might become available as no deposit from the first bidder arrived. I agreed, willing to pay if no deposit from first bidder. A day or so goes by to check to see if I could see this vessel….yes, maybe because they are going to bring boat and trailer to their store. Another day goes by, and the trailer needs 3k worth of repair, for an additional 1500, they can get me a new trailer. That was certainly a goal post moving moment and I backed out right away. Original offer 23k that would entail plus-plus-plus would nudge me past 25k according to my calculations. So right now, boat less for the time being and steering clear of the sales folks. Why, I used to be a car salesperson right after the Navy back in the days 😃

Prices are getting out of site !It's crazy!people are trying to get rich quick!

Wealth effect meet inverted curve

Nope, it heating up!!

I’m now seeing a lot of used boats coming on the market down here in the upper Florida Keys. A lot of them are clearly FSBOs.

I would love to see a recap on this data…January is not a great month to build a trend.

Just getting around to your channel but appreciate the knowledge. I am looking to buy in a few months and will be using it around the space coast in FL. Was looking into Key West 203fs or 219fs. Are these good options for that area? Will be my first boat. I fish a lot! Ha

When mass produced SeaRays are more expensive than custom built boats the manufacturers have over stepped the price. Add in interest rates making money more expensive yeah drops are coming

Boat prices are out of control. Small runabouts are almost 30k. No thanks

Would love to trade or sell my 2011 Blue Wave 2400pb for an newer model Key West 250br or an Everglades 243 but rates and prices are just insane. I’m not taking a 20 year loan and paying double the sales price in interest.

😂😂😂 INFLATION BABY! 😂😂😂 Blame it on the WAR! 😂😂😂

Bought a new 2022 wakeboat at dealer cost, close to 100k off from msrp

Bottom Line... The chickens have come home to roost at most boat Stealerships!!!...😂😂😂... Everything I said that was going to happen at the beginning of covid has happened😊... It ain't rocket science. Dwight Bernheimer Good Seamaritan Rescue since 1958😊 If you find a dealer that treats you fairly... Hold on to that dealer for dear life😂

Yeah with 10.5% and 14% interest rates thats with a 750 credit score

It’s impossible to have net profit decrease greater than 100%….lol…

didn't the consumer price index chart show down?

I work at a dealership and boats are selling and so are motors

If you have to finance a boat, you should not do it. With gas possibly going up this year due to current world events, it’s wise to keep your household ahead of the infatuation

is it worth it to wait on buying a Wakeboarding/surf boat then? Looking at Malibu or Tige but have a hard time justifying 150k or more for a new one and I just don't trust many people selling their used ones for 90-100k+.

in l;ast 3 years iv watched the boat american beauty two on craigslist from a price of 56 thousand dollar to present price of 20 grand,,lol i got my eye on a 110 grand boat.. waiting for same shit to happen to its price for next year or two.. boats in florida are not selling...last year all off grid sailboat 35 thousand , now just a year later 15 thousand price tag.. for a tatin 30ish .. nice solar but all held up by nasty ass plumbers galvanized pipe.. it be rusted thru in 3 more years.. thats my experience in watching boat prices drop

There's a lot of people doing very well for them selves especially people with government jobs guaranteed wages prices went up during the pandemic because of supply and demand and they blamed it on the cost of everything clearly it was gouging and the price never came down from that point they kept blaming it on material cost as an excuse anybody that brought a boat then Lost a fortune On d valuation it's a depreciating asset just like a car or a motorhome

I live in Oklahoma. I hear Blue Wave boats may went bankrupt. Sad

If you think this is bad look at the lumber market. It has dumped.

Hopefully not.. closing on a boat this week.. 2019 Crest ii 240 Cpt Dlx with 200 merc. 42k.... hope that's safe..

I'm working for a dealer that expanded too quickly and to 4 locations that is about to go out of business. I'm in West Florida

Just stumbled on this channel. I had no idea that people were paying such insane money for a money incinerator but I guess the same morons that buy 100k f150s are also buying boats😂 I bought a very nice 21ft open bow with a cracked block. I’m in the middle of stuffing a 5.3 in it and when I’m done I’ll have a boat for about 3k that people are apparently paying 70-90 for. Unreal.

This channel always spins info to make the boat market sound better than it is. Used Boats are selling for half of what they are listed at.

What type of discount (percentage off) would be reasonable for a 2022 new/non current model? Looking at 17’ aluminum fish/ski models.

I missed a deal on a brand new 2023 cobia 220 cc with a price drop of 31k 😢

Used boats are still Way overpriced.

It's just a slow down. Election year BS. I got a boat for sale. 2021 Blazer Bay. Tricked out

High prices will just make a market for Japanese and Chinese competition. And they'll do it better.

The new boat market should have crashed a long time ago.

Roflmao…. Only wealthy people buy boats? So I assume they all pay cash? Wealthy people don’t take out 30 year loans on a $50k boat. Boats are going to sink faster than RVs and Motorcycles as the recession and financial crash happens.

Greed is sending us right into a depression! It's on it's way!

The stimulus well is running dry....and recreational spending which spiked during the plandemic lockdowns is reversing. Remember when you couldn't find a boat to buy (reasonably priced)???? All those buyers are ready to sell. Same w/ Real Estate, RV's, bikes, motorcycles, golf clubs, et al. Gonna be great for anyone able to retire and ready to buy going into 2025... This downturn will last 15 to 20 years or until the last Boomer is 80.

Customers screw themselves…🙄

Talk about first world problems.

Biden did that 😂 2:00

What’s the sales by age? That will tell a lot. Boomers are all about toys right now.

I think the biggest crash is going to be the dude bro CC with 5 engines strapped on the back will see the biggest crash. Never seen such flexing, ever...look at me america! Lol

Bidenomics...

Manufacturers will keep the prices high and pocket the additional profit from the cheaper materials..once they know we will spend x amount on y product, it never goes below that figure again