Is it still a Buyer's Market?

[ty.gregory]

Seems the US economy is getting a bit better. Are prices for used boats going higher?

[offline]

No... Lack of "Easy Credit" and a glut of boats are keeping prices down unless you are in the mega yacht markets.

[Cheechako]

havent seen it much. Sellers may be getting a little more optimistic in their bottom line.... not sure though.

[sailvayu]

I think we have about hit bottom, I am seeing some types of boats start to go up. largely depends on brand and model but the really good deals are getting harder to find. Mid range power boats are still down boat sailboats are going back up some.

[Kenomac]

Yes, it's still a buyers market, especially above the $125k threshold. Unless you plan on paying with cash, purchases above $125k or thereabouts, lenders in the US were requiring a 1:1 loan amount to liquidity ratio just a few months ago on used boats. I don't know about new boats.

[letsgetsailing3]

Still looks like a buyers market. Lots of boats available where the owner is interested in moving on, but can't quite face the reality of today's market.

Boats priced to sell still move fast.

[barnakiel]

It is still in the EU.

b

[Nicholson58]

Originally Posted by sailvayu

I think we have about hit bottom, I am seeing some types of boats start to go up. largely depends on brand and model but the really good deals are getting harder to find. Mid range power boats are still down boat sailboats are going back up some.

Agree & add location and price range. There are probably around 50 boats in the brokerage at Torresens in Muskegon. Many boats have not been in the water for several years. This is common around the Great Lakes.

[Palarran]

IMO the bottom was two years ago and the prices are rising. It isn't so much the asking price, it's the discount off the asking price that has been reduced. In 2009-10 you could count on a good 30% drop from asking to selling price, now, I'd guess it's more like 15%. Not nearly as many are desperate to sell anymore.

[endoftheroad]

Originally Posted by Palarran

IMO the bottom was two years ago and the prices are rising. It isn't so much the asking price, it's the discount off the asking price that has been reduced. In 2009-10 you could count on a good 30% drop from asking to selling price, now, I'd guess it's more like 15%. Not nearly as many are desperate to sell anymore.

Agree.

[letsgetsailing3]

Originally Posted by Palarran

IMO the bottom was two years ago and the prices are rising. It isn't so much the asking price, it's the discount off the asking price that has been reduced. In 2009-10 you could count on a good 30% drop from asking to selling price, now, I'd guess it's more like 15%. Not nearly as many are desperate to sell anymore.

There are plenty of desperate sellers.

The asking prices aren't dropping, but there are a lot of boats on the market for a long time.

Let's just say that I'd rather be a buyer than a seller.

[boatsail]

Originally Posted by Palarran

IMO the bottom was two years ago and the prices are rising. It isn't so much the asking price, it's the discount off the asking price that has been reduced. In 2009-10 you could count on a good 30% drop from asking to selling price, now, I'd guess it's more like 15%. Not nearly as many are desperate to sell anymore.

This sounds opposite of housing if you are saying the market has gone up.

I sell houses for a living and never quote anything without providing stats. Can you provide any solid statistics from a 3rd party showing listing and sold prices and volumes of sales?

[letsgetsailing3]

Originally Posted by Palarran

IMO the bottom was two years ago and the prices are rising. It isn't so much the asking price, it's the discount off the asking price that has been reduced. In 2009-10 you could count on a good 30% drop from asking to selling price, now, I'd guess it's more like 15%. Not nearly as many are desperate to sell anymore.

... but I'd love it if the asking and paid prices were posted for the public.

[boatsail]

Originally Posted by letsgetsailing3

... but I'd love it if the asking and paid prices were posted for the public.

people selling homes tell me this all the time and when i pull the actual numbers, i see the opposite. i only listen to the numbers because they have no emotion attached.

[letsgetsailing3]

Originally Posted by boatsail

This sounds opposite of housing if you are saying the market has gone up.

I sell houses for a living and never quote anything without providing stats. Can you provide any solid statistics from a 3rd party showing listing and sold prices and volumes of sales?

One would think that they would have somewhat the same trend.

Although a problem with boats is the difficult time people have getting loans for 30+ year old boats.