Yup... calling it right now All boat companies will fail in the upcoming 5 years. This will cause the cost of used boats to skyrocket until the point they are no longer a viable option. AT that point they will all be taken to a recycling plant and ground into pulp No more bass boats.
Called it.
There will always be higher end items that are out of reach for the average consumer. Rolls Royce has broken all time sales number three years running. The luxury items market has exploded over the last few years.
No - But Yes! Everyone agrees that a new boat is expensive. But threads like this one have been going on in here since the beginning. I saw one from 2004 on the Champion forum saying new boat sales will slow because 40K is too much for a new Champion 210. Yet here we are in 2024. It is a recurring theme, along with the fact that the industry has a big misconception in regards to how much margin a company has on each bass boat. It is much smaller than it is preconceived to be. Bass boat companies are not increasing their margin 10% per year. Boat building is expensive.Originally Posted by cwenbass
The market determines the price, but that's not exactly relevant on boat manufacturers. It would be the main factor in things like the housing market (not new builds, but older homes). Those prices will be determined by the consumers. In the case of boat manufacturers the price is less determined by the consumers, but more reflective of the cost of goods. Fiberglass costs aren't going to go down, neither is the cost of carpet, vinyl, motors, electronics, etc. Nor will the cost of labor to manufacture those things decrease.
I don't see the market drying up, but I don't think we'll see sales anything near like we did in the past few years either. At least for a considerable amount of time. If anything, I think it might hurt the dealers more than anyone because they might have to adjust their bargaining power just to move new boats off the lot.
Having said that, I'm very glad I pulled the trigger on my 2022 Skeeter when I did. I got a super low rate, will have it paid for in a couple years, and the cost of that same model went up 10% in 18 months. This makes me think that the used market might be tough for consumers as well, because why is anyone who bought a boat a few years ago that has a low rate or owns the boat sell it to go overpay for a new one. I was planning on keeping my boat for a long time anyways, but if I wasn't....this factor alone would make me want to hold on to it.
2022 Skeeter ZXR20
Yamaha 250 SHO
One data point, but a buddy of mine was at the Milwaukee boat show this past Saturday from 1-5pm and said it was dead. Very easy to look at whatever they wanted to due to no crowds. The salesman said it was slow because the Packers were playing Saturday. Hmmm....this was between 1 and 5 and the game wasn't until 7Have to believe there are still those who can well afford to buy no matter the state of the economy but a large population of potential new boat buyers have been weeded out with economy uncertainty and high interest rates. Couple that with over the last 3 years any one who had thought about buying a new boat bought and that market base is saturated. Will be interesting to watch
2019 Ranger Z520C DC / 250 Pro XS 4 Stroke
It might slow down but it isn’t going to stop. Too many people willing to take that 15-20 year loan. Just look at the saltwater boat market. Makes the prices on bass boats look like nothing and they have no problems selling. Also, rates are going to coming down and that will drive more sales again.
2009 Triton 18x3 Pro
Been buying boats for 50 years. Never have new ones gone down in price. Used boat market is still highly overinflated. Never in 50 years of owning boats has my used boat gone up as much as current pricing.
Only bought one new one.
I think you delegitimize the comment when you throw the greed accusation in. Companies price products to make a profit and stay in business. Plenty of boats out there in every price range. Everybody wants to use the 20 foot 250 HP rig loaded with 5 graphs and all the other stuff as the bench mark for pricing and griping…Same with aluminum…nobody has to spend 60k on an aluminum boat…There are 30k or less aluminum boats that will catch fish. I don’t think the market will dry up…it will adjust and long term financing with larger payments for those that can afford will become the norm.
When you buy a hamburger from a fast food chain for $5 and the worker there is making over 20 an hour, I feel the boat market will survive.
If banks and other lending institutions decide that they will no longer offer 15-20 year loans and instead will only offer a max 5 or 6 years on a boat, then I do believe the new boat market will take a major step back. But as long as they continue to offer long term loans, there are just too many people who will simply look at the monthly payment and not care how much the boat actually costs.
Good comment, and bears the truth when you look at the "1st boat" threads to see where my generation started (60+ years old) vs 30 year olds who likely started with a 1st boat that's nicer than my current old rig. They still make Jon boats with tiller steer motors but I rarely see them at the ramp.
I honestly think the market is in a better place than it had been during peak covid stupidity. Some manufacturers might go under, but for the consumer being able to get some factory rebates and used boats not being priced the same as new boats is great.
2020 Nitro Z20 Pro Package
That is some outstanding original commentary on the Subject of this Thread you spoofed the Naysayers and got the attention of the Non Believers on here as well.
That takes talent and we’ll have to wait five years before totally disputing it as you could turn out to be the Nostradamus of the BBC
No.
I see way more $80K boats now, than I did $20k boats 30 years ago. Boats are cheap now. 30 years from now, people will say dang 30 years ago, you could get a nice boat for $80, now they're $160K.
Thank you. So is my wife and our daughter. On the plus side, once you retire, if you choose to go the private school route...you can negotiate your salary and raises.
2016 Nitro Z21
"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." Benjamin Franklin
Surprised somebody hasn’t jumped in yet complaining that new boats cost more than their first house.
A loaded Ikon costs more than the house im in !!!!! HAHAHAH
No, as a bass boat is the true definition of a luxury item. Any wise manufacturer will push the price boundary to what the market will bear, and then some. It's also important for manufacturers to incentivize their "patch pirate pros" to push the products as aggressively as possible to ensure increasing revenue. From an operations standpoint, I'm quite impressed how the bass boat / marine industry has convinced so many people that you can't catch a fish without a top of the line boat, 5+ graphs, multiple transducers, power poles, etc., on your boat. The marine industry has definitely improved their marketing game.
+1. And social media has a lot to do with that concept. That's why people like Zach Birge get on my nerves. Every social media post he makes is about how "ballin or blingin" his new boat is, along with the matching truck and 20" rims on his boat trailer. It sets a bad precedence for a lot of younger anglers who are trying to get into bass fishing.
2022 Skeeter ZXR20
Yamaha 250 SHO
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