Used boat market "Demand Destruction"

[GEEBASS2000]

Since 1996 when I bought my first new bass boat, I have had luck with buying new or demo boats running them for 5 years listing them in September of the fifth year of use and they were gone by October 15th with lots of calls and inquires. This time around I am a hair longer time of ownership "6 years, due to covid low hours" and have not one single call or offer. So I called 5 other guys I know of with boats for sale and they all said the same thing not one single call "all different brands". I know it's not the "best price type thing" because I have my boat down to make offer and the phone still does not ring. I also know it's not a best value thing because I see boats listed on this very sight that I know most people can't by new for less than $125,000 that are 5 months old that are listed for $45,000 less than New!! Basically, what I am saying is it is extremely obvious that the $50,000 to $80,000 used boat market is totally dead. Every site I check has an endless list of $50,000 to $80,000 used boats.

I feel that our market has hit demand destruction, meaning that the used boat buyers can't any longer afford the lightly used boats. I feel that interest rates are not helping as high as they are because I recognize that a lot of used boat buyers are taking out loans. What your opinion on why there is an endless supply of $50,000 to $80,000 like I have never seen before in my close to 30 years of buying and selling bass boats??

[ssmithboats]

there are some buyers left out there most are smart enough not to pay 80k for a bass boat nearly all are smart enough not to pay 80 k an 8.5% interest with great credit there is way more stuff for sale than qualified buyers.

[ThomasD]

I know many clamored about how great Honda outboards are but in reality very few if any want one on a bass boat.

[Rangerdeepv]

The interest rates have really had an effect on boat sales, RV sales any 'don't need' toys needing a loan.

[GEEBASS2000]

I know many clamored about how great Honda outboards are but in reality very few if any want one on a bass boat.

All I can say about that is, You must have missed the part EVERY PERSON I know of that has a boat listed regardless of brand of boat or outboard has zero calls regardless of price. I have since called a dealer I work with, and he told me straight up plenty of buyers for boats over $100,000 new and plenty for below $40,000 however the lightly used market is dead, dealer's words not mine.

As far as the Honda all I can say is I have owned all other major brands of outboards and it's the only one I have owned that did not blow a powerhead, every other brand I have owned regardless of 2 or 4 stroke blew a powerhead. I have never even heard a rumor of a Honda with a powerhead failure. They just don't blow it's a Honda pilot, you don't see too many Pilots on the side of the road.

[sushi520vx]

What your opinion on why there is an endless supply of $50,000 to $80,000 like I have never seen before in my close to 30 years of buying and selling bass boats??[/QUOTE]

People cant afford them so they are trying to sell. They took 20yr notes, the crazy covid boat buying binge, inflation, high interest rates, but the biggest reason is inflation. I live on the coast, lots of boats for sale. Its obvious the ones with loans on them cause they are priced high and just sit there. And the ones without loans are priced low and a lot of those are not selling either. Time of the year has a factor in it as well.

[ThomasD]

All I can say about that is, You must have missed the part EVERY PERSON I know of that has a boat listed regardless of brand of boat or outboard has zero calls regardless of price. I have since called a dealer I work with, and he told me straight up plenty of buyers for boats over $100,000 new and plenty for below $40,000 however the lightly used market is dead, dealer's words not mine.

As far as the Honda all I can say is I have owned all other major brands of outboards and it's the only one I have owned that did not blow a powerhead, every other brand I have owned regardless of 2 or 4 stroke blew a powerhead. I have never even heard a rumor of a Honda with a powerhead failure. They just don't blow it's a Honda pilot, you don't see too many Pilots on the side of the road.

You keep touting what's preventing it from selling. I saw your video and honestly if it had a Merc or SHO on it, it might fetch mid to upper $40's at most. IMHO with that Honda upper $30's would be what its going to take to sell it.

[WildmanWilson]

One big problem is the price of boats have gotten completely stupid. Over 100k for a glass boat and some metal boats 75k plus. Electronics can drive the price of an average boat to crazy levels. As the economy continues to nosedive, people will make choices to put food on the table and keep the lights on rather than these overpriced toys. Many of the used boats are listed at nearly new prices as well. Many have such huge loans they are underwater and cannot dump them without getting hammered.

[BigFishSteve]

You have almost new boats for 5 years and have blown every brand. I’d love to know more. Mercury, OMC, Yamaha, Canada Evnrude, Suzuki. Humm…..your story is very interesting. Never heard of anyone blowing that many motors. Strange pattern.

[GEEBASS2000]

You have almost new boats for 5 years and have blown every brand. I’d love to know more. Mercury, OMC, Yamaha, Canada Evnrude, Suzuki. Humm…..your story is very interesting. Never heard of anyone blowing that many motors. Strange pattern.

Too much to list all but last 4 boats

Merc 250 pro xb 4 drive line issues. broke 3 drive shafts in three years in the 4th year a powerhead

Mercury 250pro xs 2 stroke countless coil failures 3 power heads " 2 done by merc service trailer tech" they were such bad outboards I remember a Costa tournament that the service trailer actually ran out of powerheads at the 1000 islands event

Yamaha 250 SHO 4 stroke had 3 great years then blew one powerhead in year 4 "this was the closest to the Honda quality"

Honda BF 250 Zero power heads Zero lower units. $19 keyway part in water impellor kit only part failure. I went to the Honda to avoid powerhead and lower unit issues and so far it has worked for me. Not bashing any other brand but like I said how often do you see a Honda pilot with a blown engine.

However none of this is the point of my original post. The intent of this is that our sport is at the point that the cost to upgrade has got to the point where we have reached demand destruction, because if the market is truly at the point where guys are paying $100,000 to $120,000 for a true tour grade rig "21 footers with a 250's 5 sonar units and lithium to power it all" and selling them one to five years later for $30,000 to $10,000 per year depreciation depending on how long they keep them our sport is destined to decline or come to an end. Just take one look at the Basscat for sale page on this site there are several rigs on this site that were $115,000 to $125,000 New that are now listed for $20,000 to $30,000 or more less than new that are only a few months or a year old and they still are not selling. Not a good sign for our sport. If $30,000 less than new for a few month old boat won't sell it what will???

[Craigjc00]

Time of year plays a huge roll in the North. Most peoples boats are winterized by now except for the die hard anglers who don't switch completely to deer season. Nobody buys a boat up here cause we can't use it for 5-6 months from now. Buying and selling season starts up here in March. I do know of several people looking to upgrade but not until the spring.

[Rubrail]

Depreciation today is much stronger and more obvious than it was say one year ago or five years ago. Like I stated before, lower the price until you get interest or put it back in the barn and try again later, heck just keep using the boat, you seem very happy with it so dont sell it.

[Javelin389]

For me, I'd have a very tough time handing out $40-$50K+ for a used boat. Regardless of age. You're in that area where another $20K or so can get you a brand new one, but maybe not the one you want. Also struggling with the prices of the mainstream brands fully rigged. Not sure I could bring myself to do that either.

[BMCD]

Boat market in general is tuff. People that could finance some it are not because of other factors. Prices going up, rates up, and consumer confidence seems to be lower. Plenty of boat owners with boats getting older. So the used market inventory will go up.

[Gsmith223]

Its fall, prices always go down. Lots of dealers ordered way to many boats thinking that the demand would never end. Demand has slowed back to pre-covid levels and now they are sitting on a pile. Guys are still thinking used boat prices are at pandemic levels but that is no longer the case. I just bought a 2012 Skeeter and sold a 2002 Ranger. The first person to come look at the Ranger bought it. If the price is right it will sell.

[Mcjenson]

For me, I'd have a very tough time handing out $40-$50K+ for a used boat. Regardless of age. You're in that area where another $20K or so can get you a brand new one, but maybe not the one you want. Also struggling with the prices of the mainstream brands fully rigged. Not sure I could bring myself to do that either.

100%. It sounds dumb, but being able to get the exact color combo along with electronics/accessory packages is a big deal for most.

[ssmithboats]

the main reason a lot of the 50 to 80 k used boats have been on the market so long is because they were bought during covid an the market has adjusted downward an folks dont have the cash to put with them to make them go away.

[FloridaFlyer]

Not a lot of people can afford to buy these boats. It is the buyer's business....not mine ---- but financing a depereciating asset is a very dumb financial move. You are giving money away.

People buying these 75K to 100K boats are going to lose a lot of money. Some people can afford it, some cannot. The prices have gotten laughable. That is the problem. That and the recent interest rates on loans.

[bassfisher444]

What boat are you selling? Very few 6 year old bass boats are worth 50-80K.

[Meleagris1]

I had no problem selling my 2017 - in fact I didn't even get to list it.