Used Boat Market, No Price Reductions

[Mike Boehler]

Just my observation of the used boat market in the last 8 months, NOTHING is really selling. I've saved about 20 or so boats that I've been looking at, most if not all, have been on the market for a year or more.

Some boats have been listed for several years.
But in reality, are these boats truly for sale?
Most asking prices have not moved one cent in 8 months, and not only that, not ONE of the boats that I've been looking at have sold!

I can only imagine that folks are posting their boats for sale with no motivation to sell them, you would think these brokers would qualify the sellers as well as the buyers (they sure try to qualify me!).

Most of these poor ******* brokers are working for nothing if the owners won't do what it takes to sell the boat (lower the price).

Here's a question: When a seller says "I'm motivated to sell" does this mean he's begging for a low ball offer? I could be totally off base here, but I sometimes look at the asking price, and if it isn't in my ballpark, I move on.

Maybe I should become one of the lowball creeps that the brokers talk about.

Its a very confusing market out there if you ask me.

Mike

[hotshot1]

I think most people WANT to sell their boats to move up, but don't have to. I have been in 2 different boat selling situations. The first boat was older and needed too much done to it to keep going safely, that boat I had to sell put a low price on it at my by out and sold it. The other time I wanted to Move up but really didn't have to. I priced the boat where I would get a little money out of it for a down payment. I never dropped the price and didn't sell it. Ended up trading it in at wholesale price. Another factor just as in the home market , boats are financed to the hilt with little downpayment so the price can't be dropped on a 1-5 year old boat. 8 months of payments on a fairly new boat financed at 15 years doesn't lower the payout much

[joeksr]

Just my observation of the used boat market in the last 8 months, NOTHING is really selling. I've saved about 20 or so boats that I've been looking at, most if not all, have been on the market for a year or more.

Some boats have been listed for several years.
But in reality, are these boats truly for sale?
Most asking prices have not moved one cent in 8 months, and not only that, not ONE of the boats that I've been looking at have sold!

I can only imagine that folks are posting their boats for sale with no motivation to sell them, you would think these brokers would qualify the sellers as well as the buyers (they sure try to qualify me!).

Most of these poor ******* brokers are working for nothing if the owners won't do what it takes to sell the boat (lower the price).

Here's a question: When a seller says "I'm motivated to sell" does this mean he's begging for a low ball offer? I could be totally off base here, but I sometimes look at the asking price, and if it isn't in my ballpark, I move on.

Maybe I should become one of the lowball creeps that the brokers talk about.

Its a very confusing market out there if you ask me.

Mike

Hey, guess I'm one of those lowball creeps. I learned a long time ago not to
"fall in love" with a property, boat or whatever. If you like it make an offer. If
your offer is refused move on. Plenty of others out there. Be surprised how well you can do.
Brokers dont like low ball offers because it lowers commision and makes for more work. A full price offer is easy and profitable. If you have a broker that insists on a full price offer you have "a highball creep" one your hands.

Joe

[pitch bait]

Some of those boats you are looking at can be decoys. They are used to draw you to the site or call them on the phone and then they try to sell you something else.

[Mike Boehler]

Hey, guess I'm one of those lowball creeps. I learned a long time ago not to
"fall in love" with a property, boat or whatever. If you like it make an offer. If
your offer is refused move on. Plenty of others out there. Be surprised how well you can do.
Brokers dont like low ball offers because it lowers commision and makes for more work. A full price offer is easy and profitable. If you have a broker that insists on a full price offer you have "a highball creep" one your hands.

Joe

I've never made a full price offer on anything in my life, won't start now, but what is confusing is the brokers are making nothing without selling the boat in the first place and these boats are not selling. they're just eating up bandwidth.

If I'm a boat broker right now, I'd rather make small commission than no commission.

[Mike Boehler]

Some of those boats you are looking at can be decoys. They are used to draw you to the site or call them on the phone and then they try to sell you something else.

I can believe that after my first broker experience some years ago. (not here to bash brokers though)

[joeksr]

I've never made a full price offer on anything in my life, won't start now, but what is confusing is the brokers are making nothing without selling the boat in the first place and these boats are not selling. they're just eating up bandwidth.

If I'm a boat broker right now, I'd rather make small commission than no commission.

Right now a full price offer is crazy, It's a buyers market.
I think what we have to understand is that the broker works for the seller.
If the seller says "dont bring me an offer less than whatever" then thats the game. I've made offers that have brokers shaking their heads. Specially when the offer is accepted. Learn the rules and you can win the game. You can always go up on the offer but you cant go down. If your first offer is accepted, You bid to much.

Joe

[trollman]

go ahead and low ball. i am seeing significant reductions in the used market.

[hotrodmarlin]

Hell at this point I'd be happy with a lowball offer. I wouldn't take it but at least it would tell me somebody's out there looking!

[26pursuit]

I guess I was one of the lucky ones that listed in mid may and sold in mid august, the broker I used said expect sale price at least 10% to 20% less then asking price it ended up being right in the middle

He said it the slowest year he has ever seen in 20 plus years in business, must of the boats he sold were bought from people over seas because of the week american dollar it was cheaper to buy in the states and ship overseas then it was for them to buy local.

I wish I was in the market now there are some great deals now, a few more years when the kids get older and I will be back, till then......