Do you think that used boat prices will come down due to the virus situation - just wonder how many people will need to move the boat rather than wait for things to get better?
Do you think that used boat prices will come down due to the virus situation - just wonder how many people will need to move the boat rather than wait for things to get better?
I hope so prices of used rigs is ridiculous right now.
If we get back to "normal" by summer, no. If this insanity lasts into summer, yes, its going to affect lots of folks that are over extended. My opinion
It’ll start with some ‘must sales’ and they’ll either be part of a ‘Buy high, sell low’ group or they’ll be leaders of a used price decline. Used boats aren’t propped up by dealers. It is purely supply and demand decided by the consumer.
not in texas with all the folks laid off they are at the lake enjoying life .
The loss of jobs and many not being able to pay bills will affect a lot of stuff... I don't see many dealers selling boats, vehicles, campers or much of anything. I know I haven't spent any extra money on anything other then the essentials in the last few weeks. The economy is going to get crushed. There will be those that just sit on their boat and ride it out, and a few others will have to sell to make ends meet. It is what it is, a crappy situation for sure...
I think yes they will come down , especially if people don't get back to work , some may be forced to sell ,
think about it the economy is not going to rebound in weeks , this could take 6 , 9 ,maybe 12 months to get positive again
2009 ELITE 210
There will be more repossessed boats for sale with all the job losses.
Did boat prices slump in 2008???... Nope... And the federal gov't is throwing money at this hand over fist... Dan
Not any time soon. That would require a significant recession or worse. Despite what the talking heads say, we’re not that bad off. So, the virus would have to get much, much worse. It will cause people to pump the brakes on a purchase as they ride out the uncertainty (as I am doing on a new house) but that will be short term. So, only that that absolutely must sell will drop the price. The rest will wait it out for prices to recover so this will not lead to any sort of longer term price reduction.
Bruce
2019 20 TRX Patriot
Mercury 250 ProXS Fourstroke
HDS 12 Live - Console
HDS 9 Live - Bow
Maybe not overall. But people who are in need of cash will list their rigs for quick cash. If you’re in the market for a boat, now is a good time to keep an eye out. Just my opinion anyway.
'13 Triton 19SE 225 Pro XS
'09 Chevy Silverado Z71
Although, dealers of all kinds are closed. You would think they would wheel and deal on everything to get some income. Short of outright losing money on the deal.
2020 Vexus AVX 1880
Evinrude E-Tec 135 HO
Ultrex
Lowrance
Even though people are unemployed, the government is still paying their wages. Most households will have the same amount of income, many even more unless Congress fixes the $600 mistake. I do think in times of uncertainty like we are experiencing, many people will not spend money on unnecessary big ticket items like boats.
I think a lot of people owe too much on their boats to really come down in price much.
I’m glad mine is paid for that’s all I’m gonna say I know a lot of people with stretched out loans and aren’t working right now it will be a struggle for them to hang on to it when it gets really tight,
I would think that finance companies taking any boats due to non payments would gain them nothing in the current trend of things.
They would be better off leaving it with the owner and agreeing to payment as able.
The bank wont be able to sell anything to a public that can't buy.
Used boat prices may come down, but only if the demand for them drop. That could happen if the current crisis continues past June.
2016 BassCat Pantera II
Mercury 200 ProXs
People are actually fishing more during the virus. We have heard several advertising used boats have seen up to a 10 to 20 fold increase, in volume for interest on used boats for some areas. We don’t see used boats sliding in value overall, and we do understand the financial situations will have some get let go because of a quick turn. We feel most mid to upper tier boats will be held as the owners are more secure in their finances.
2008-2010 already repaired a lot of that damage and used boats did not reduce, though increased in value significantly at that time. We feel they will hold solidly at this time and some of that has to do with engines and demand for newer engines from those in the bass segment. Both major engine brands have increased dependability in the recent 5-7 years and later engines are more desired in Yamaha brand, with the last 3 seasons of Mercury product really being in demand.
Reality is I'll just keep my boat longer till I can get a price i need to have when i sell. I was planning on putting my boat on the market, but I see no need to right now.
Bryan McDonough
2023 Nitro Z21 XL
Nitro Team
Recreational toys aren't usually affected. You'll see some stupid deal on vehicles but people are going to buy their toys regardless of what's going on so they don't change prices.
As others have stated the price of used boats won't be impacted much but the price of used accessories will drop like a rock in the event of a recession. This is caused by the price of new items coming down. People hold off on upgrades when things get tight and work with what they have. My opinion.
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