current used boat prices? Help me understand what I am looking at

[Macintosh]

Hi all,
I have heard many people say that after covid boat prices have gone through the roof. I am wondering if what I am seeing is part of that, or if I'm looking at book values wrong, or what. I'm shopping for a plain, tiller, 16' tin boat--extremely difficult to find near me, everything is either 14' or less, or it's a "finished" boat that is larger and heavier than I am looking for. So this is part of it. However, what I'm seeing is a decent number of used boats from 1980's through mid-2000's vintage where the asking price is 3x or more the average retail book value, often significantly more than the original list price for those items when new. Example, I see a 2008 Lund wc16 on a trailer with a honda tiller 25hp. I see average book value is a bit over $4k, asking price is $9950.
So, am I seeing prices that people are actually thinking they'll get due to a shortage of boats, etc? Or is this just speculative pricing where someone says "if they're stupid enough to pay this, then of course it's for sale"? Or?

Thanks for any thoughts or feedback, I'm just not sure how to make an informed offer or get a sense of what is realistic due to some of this pricing.

 

[poorthang]

thats not a result of da fake rona. thats a result of phishing. PT barnum once said............

 

[MN Fisher]

Before I bought the F-9 - without a motor - from a local, I'd looked at used boats from local marinas

Even they were asking 60%-90% more than the NADA valuation.

 

[Weldorthemagnificent]

Yeah the prices are crazy. They are coming down from the height of craziness I noticed but still quite high. New prices however, have only gone up to reflect materials cost increases. If I was in a position to afford it, I'd buy new. Thankfully I already own an old boat and I'm hanging on to it! Pandemic pricing made all things recreational go through the roof. We all know someone who sold something for way more than it should have gone. I sold my snowmobile for more than I paid. Enough to pay for insurance and trail passes for the 5 years I owned it! Anyway, this causes everyone to think their stuff is gold and used listings reflect that. To establish a true value of what things are going for, I look at asking price vs how long the item has been posted. If you see your coveted wc-16 listed for x dollars and it.sells within a couple days, then x dollars is in the ball park. If the listing is 6 weeks old, then it's likely too high. Quick search here in Ontario Canada turned up a brand new wc-16 on trailer with tohatsu 20 for 13,400. Not sure where you are from, Canadian dollar is generally worth 70-75 cents American.

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[poorthang]

Yeah the prices are crazy. They are coming down from the height of craziness I noticed but still quite high. New prices however, have only gone up to reflect materials cost increases. If I was in a position to afford it, I'd buy new. Thankfully I already own an old boat and I'm hanging on to it! Pandemic pricing made all things recreational go through the roof. We all know someone who sold something for way more than it should have gone. I sold my snowmobile for more than I paid. Enough to pay for insurance and trail passes for the 5 years I owned it! Anyway, this causes everyone to think their stuff is gold and used listings reflect that. To establish a true value of what things are going for, I look at asking price vs how long the item has been posted. If you see your coveted wc-16 listed for x dollars and it.sells within a couple days, then x dollars is in the ball park. If the listing is 6 weeks old, then it's likely too high. Quick search here in Ontario Canada turned up a brand new wc-16 on trailer with tohatsu 20 for 13,400. Not sure where you are from, Canadian dollar is generally worth 70-75 cents American.

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yes, if it has sat for a long while for sale, then they are asking too much! gambling that someone will want it now!! of course, over $1000 a week in unemployment benefits and tripling of food stamps drove that false economy. its over now. prices AND people will return to reality like a boulder off a cliff. it will be a buyers market soon. history repeats

 

[MrGiggles]

Its worth noting that book value was only ever a very rough estimate. And at the end of the day, the value of something is just what somebody is willing to pay for it.

Covid did send boat prices through the roof. Demand went way up as more and more people wanted to get outdoors when everything in the cities was shut down, and they had pockets full of stimulus and unemployment money. Supply was low and still hasn't caught back up. Now we have material prices that are very high and not coming down much. On top of all that inflation makes the dollar worth less.

It wasn't just boats either, RVs, powersports, vehicles, everything was affected.

 

[thill]

FWIW, prices are starting to go down. Lots of people asking huge numbers, but a number of them are back to "normal" prices. You just have to be VERY quick to get one before it's gone. I just bought a 1648 Tracker, a simple, open jon, for less than 2k with a great 30 HP engine. There are others out there, especially now that the weather is getting colder. You just have to keep a sharp lookout and be fast when you see one.

 

[FuzzyGrub]

I have been looking for a used pontoon since mid-summer. Prices I've seen are rediculus, but many sold within a few days of listing. Also have been tracking some old ones that have been sittings at a high price and not willing to budge, months latter. obviously, just trying to be opportunistic. Not sure what I'm going to do yet. Thinkng high interest rates may crash the boat market in the spring.

 

[PGRChaplain]

Keep looking! Marketplace this morning 1984 Sylvan sportster, 35hp Johnson, New Trolling Motor and Trailer, $1000

 

[airshot]

I bought my 16' Sylvan in July, but shopped for two months until I found it. Private owner almost three hours away. Lucky I am retired, so hit the road right after talking to the owner. Lucky for me the owner appeared to be honest and thoughtfull by holding the boat while I made the drive. Yep he had numerous calls according to his wife yet he held it for me. Boat was excellent condition, price was reasonable for the market at that time. Jumped on it with no negotations. Got lucky....real lucky....have to be ready and willing to look outside your area !!! Good Luck !!

 

[poorthang]

FWIW, prices are starting to go down. Lots of people asking huge numbers, but a number of them are back to "normal" prices. You just have to be VERY quick to get one before it's gone. I just bought a 1648 Tracker, a simple, open jon, for less than 2k with a great 30 HP engine. There are others out there, especially now that the weather is getting colder. You just have to keep a sharp lookout and be fast when you see one.

yep, been dropping for a couple months here. same ones that were asking $3500 are now asking less than half. stimulis gone, groceries and utilities are double , gas same. now its thanksgiving and CHRISTmas coming. motorcycles are for a song. crack still in high demand.

 

[Masmas]

Stay on the fence about buying-

Now that layoffs have started plenty of boats will be available at the right price.

 

[eeshaw]

Disposable income is what it's all about. Don't get in a twist looking for anything local, be willing and ready to travel for what you want. I wanted an outboard for a project I have and traveled 4 hours to pick it up. That being said, I had watched for something for months before I found one worth the asking price.

 

[thill]

Right now is always the best time of year to buy. People looking for Christmas money, and they can't use the boat in winter. Marketplace deals are getting better and better. I've bought two 16' v-bottoms for less than half of the one I bought a month ago. I've got my winter projects in the bag.