Hot market?

[Misfitts]

Hello, everyone.

We've continued to do our due diligence and make sure we are making the right choice in vessel. While it's been difficult to overcome the FOMO, we've walked away from several deals because they weren't right for us. Admittedly, our goals have changed a bit too.

The question I have is: is the market still considered "hot"? We've only tracked the market for the last 16 months or so. I see boats listings lasting longer but prices haven't dropped much.

Those of you who have been watching for 3-4 years, what's the % in overall pricing have you seen? (Let's just ignore inflation for the moment).

Thanks, all!

[more]

Originally Posted by Misfitts

Hello, everyone.

We've continued to do our due diligence and make sure we are making the right choice in vessel. While it's been difficult to overcome the FOMO, we've walked away from several deals because they weren't right for us. Admittedly, our goals have changed a bit too.

The question I have is: is the market still considered "hot"? We've only tracked the market for the last 16 months or so. I see boats listings lasting longer but prices haven't dropped much.

Those of you who have been watching for 3-4 years, what's the % in overall pricing have you seen? (Let's just ignore inflation for the moment).

Thanks, all!

Market is so hot next Saturday i go to sea couple boat 45 ft from 2017,2018,2019 if boat is not hit keel to hard, have devastated interior i make offer for one. delivery is after charter seson october. No survey, not nothing fast look and offer as is.

[alctel]

It's been bonkers for the last couple of years, but the last month or two it seems to have actually started slowing slightly.

[mvweebles]

Market is changing - FOMO is now sellers looking to cash out at premium price so price drops will lag. Dust will settle in 6-months or so.

[chrisr]

where are you located please ? makes quite a difference you know...

we have just done very well selling a boat in australia, and buying in french polynesia

market has (imho) just about peaked in australia. we sold for 50% more than we paid 4 years previously...

cheers,

[Lake-Effect]

Originally Posted by mvweebles

Market is changing - FOMO is now sellers looking to cash out at premium price so price drops will lag. Dust will settle in 6-months or so.

US stock market has now dipped into bear territory. That plus inflation, gas, etc... the next year should be interesting. I wouldn't be buying a larger boat now, til we see how things go in the next half year.

[more]

Originally Posted by Lake-Effect

That plus inflation, gas, etc... the next year should be interesting. I wouldn't be buying a larger boat now, til we see how things go in the next half year.

tik-tok-tik-tok-tik-tok and clock ticking to date my,your everbody time of death.

time passing you don't have new boat and you die with hill of money on account. and somebody receive your money and celebrate this with big party.

[smac999]

Fuel prices are through the roof. Boating will be dead this summer. Power boats will be given away for free in 1-2 years. Because Nobody can afford to fill them up.

I predict boating will go away for 10 years untill electric ones become feasable.

[Lake-Effect]

Originally Posted by more

tik-tok-tik-tok-tik-tok and clock ticking to date my,your everbody time of death.

time passing you don't have new boat and you die with hill of money on account. and somebody receive your money and celebrate this with big party.

Well, of course time is more precious than money, and of course, if you want a big boat now and you can afford current prices, then you shouldn't hesitate.

But as always, the secret to happiness is not getting what you want, but being happy with what you have. You don't need a big newer boat to cruise; if prices have made that goal elusive, go cheap, go small, go now. And get your larger boat later, when the prices drop.

[boatman61]

Words of wisdom..

[pcmm]

Originally Posted by smac999

Fuel prices are through the roof. Boating will be dead this summer. Power boats will be given away for free in 1-2 years. Because Nobody can afford to fill them up.

I predict boating will go away for 10 years untill electric ones become feasable.

A lot of that will really depend on power or sail. Were I am, the majority of boats are sail so fuel prices will likely have much less of an impact on actually going out.

Well aside from those small fishing boats and damned jetskis! But them going out less is safer for the rest of us!

[Danm1]

I just went into contract on a boat I consider fairly priced "today." In other words, probably what it was worth in 2019-20 pre-covid. Most listings still are asking and holding out for a covid premium, but I think that will change soon because a) the economy, b) covid buyers are quickly learning true costs, and c) prime selling/buying season in Northeast and Florida is ending and yet, from my unofficial observation, more boats have been hitting the market in the past couple of weeks.

[ohdrinkboy]

I'm 3.5 to 4 years out from buying. I think the market has peaked in the USA. We are about to see a steep drop. I'm already seeing the effects of fuel prices on the lake where I currently sail. Boat traffic is way down.

[pcmm]

Originally Posted by Danm1

I just went into contract on a boat I consider fairly priced "today." In other words, probably what it was worth in 2019-20 pre-covid. Most listings still are asking and holding out for a covid premium, but I think that will change soon because a) the economy, b) covid buyers are quickly learning true costs, and c) prime selling/buying season in Northeast and Florida is ending and yet, from my unofficial observation, more boats have been hitting the market in the past couple of weeks.

Don't forget: d) interest rates have had 3 rate increases already and the next predicted one is expect to be the biggest jump yet!

Interest rate changes are already having a cooling effect

[danstanford]

Originally Posted by pcmm

Don't forget: d) interest rates have had 3 rate increases already and the next predicted one is expect to be the biggest jump yet!

Interest rate changes are already having a cooling effect

Very accurate observation and it identifies a real causal effect. Many people, lulled into a sense of complacency by a steady interest rate world have maintained variable mortgages and each jump in rate raises their cost of living. Even if they aren't in line to buy a boat they are a part of the economy that becomes bearish.