Interesting article on boat sales

[JLD]

Interesting article on the CNBC website today regarding boat sales.


Jim

 

[Nomad Willy]

Interesting but dosn’t say much about used.
It did say used boat sales were up 45%.

Maybe I could sell Willy and only take 30 days to do it instead of the usual “years”.

 

[firehoser75]

Just for a case in point. I just sold my Nordic Tug (it was the only NT 37 for sale on the West Coast of NA) privately with only "advertising" here and on 2 Nordic Tug owner's Associations websites. It sold in 5 days and I received a large number of inquiries and had 3 showings (the showings were in the first 7 days after which I stopped).
Yes, Eric, you probably could sell Willy in a much shorter time than would normally be expected.

 

[slowgoesit]

Interesting but dosn’t say much about used.
It did say used boat sales were up 45%.

Maybe I could sell Willy and only take 30 days to do it instead of the usual “years”.

But if you sold her, THEN where would you be?!? . . . . I hate to say it . . . . Must FORCE myself . . . . you'd be . . . . . BOATLESS! There, I said the dreaded word. . .

 

[Seevee]

Yes, boat sales are booming.



However, when you have a rapid increase in something it doesn't last forever... and often not long.


I could argue it will last pretty much thru the Covid issue, as are RVs and aircraft. (Aircraft, not so much, but prices are UP).


I'll bet that when this is over there will be a lot of folks dumping their boats because they "didn't like it that much", or "just don't use it", or whatever, and it will cause a buyers market.



Same with real estate, which has ALWAYS had these fluctuations.


However, I'd bet the trawler market will have more stability that the smaller boats.... just guessing....

 

[Njlarry]

But if you sold her, THEN where would you be?!? . . . . I hate to say it . . . . Must FORCE myself . . . . you'd be . . . . . BOATLESS! There, I said the dreaded word. . .

Please! This is a family site!

 

[Glastron CVX20]

There is a lot of cheap money available for folks to buys toys at the moment.


I think as interest rates rise and inflation sets in(you can't just keep printing trillions of dollars) we are going to hit some tough economic times.


I have a feeling(just like I did in 2006) that things are going to hit the fan sometime in the next 24 months.


I have 42 building lots under contract, several other parcels for sale. In 2006 we couldn't sell all our property fast enough to get out before the crash. I'm hoping things work out better this time around.


When it crashes you won't be able to give boats, RV, equipment and real estate away.

 

[gt7834a]

I lived through the last crash, and still have the scars, so I understand where you’re coming from. But that was a once in a lifetime event. We usually have economic slowdown’s not crashes. Could it happen? Of course. Do I think it’s likely, no..
I do agree that the frenzy in boats, real estate, etc. is going to slow down and may even see prices drop in the near future, but I doubt they’ll be a crash. Unlike last time, an awful lot of this is being done with cash.

 

[Arc]

Right now it’s a windfall for boat manufacturers. Cheap rates, stimulus checks, PPP , shutdown of vacations, cheap fuel for now. This will all change soon. Families will want that cruise or Disney vacation, and fuel is creeping up every day.
Then there is the issue with the buyers. Most of us are ‘ Boaters’ we know the deal, families accept the lifestyle , and the usual expenses are budgeted. The new ‘1st time ‘ buyers have no clue. Kids will get seasick, wife wants hotel vacation, the owner will crash a few times, the winter lay up will make their head spin. Reality of boating will set in . They are not true boaters , they were just people with some money to spend and thought they had a great idea. Usually it takes a few seasons. Then that’s it. Lots of used boats on the market and it becomes a buyers paradise.