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Boating Industry Future

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RGrew176
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Re: Boating Industry Future

Postby RGrew176 » July 23rd, 2018, 11:12 pm

An appreciating boat would be a good thing. As long as new boat pricing rises over the inflation rate I think it bodes well for the used boat market.
Rick Grew

2022 Stingray 182 SC

2004 Past Commodore
West River Yacht & Cruising Club

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Midnightsun
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Re: Boating Industry Future

Postby Midnightsun » July 24th, 2018, 5:16 am

My guess is the larger well maintained boats will appreciate as time goes on, especially the fresh water ones. Most manufacturers are no longer producing this size/style boat any longer due to the high costs. Supply and demand has always dictated costs in the past. Regardless, nobody buys a boat thinking it will appreciate however getting a little more $ when its time to sell never hurt anyone. :captain:
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Re: Boating Industry Future

Postby RGrew176 » July 24th, 2018, 11:19 pm

In my case when the time comes to sell if I can break even I would be happy. By breaking even I mean selling for what I purchased it for. I will probably not recoup what I have since put into her but that's OK by me. The fun I have aboard more than makes up for what I spend.
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2022 Stingray 182 SC

2004 Past Commodore
West River Yacht & Cruising Club
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Cooler
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Re: Boating Industry Future

Postby Cooler » October 19th, 2018, 6:13 pm

I am late to this discussion, but here are some thoughts and facts. The manufacturers are caught in an almost unsolvable position. Talk to an honest, transparent boat sales professional. Read who the new blood boat buyers are. I was on a search for a traditional cruiser for 8 months, and I was shocked at how low a twin engine, 32 ft+ is actually selling for. One sales professional disclosed his 12 mo. sales results. Sold a total of 72 boats from Feb '17 to Feb '18. 52 of the boats were pontoon style ( 35 new, 17 used ) 22 of the new pontoons were set up with massive HP, and lights / amenities that made them elaborate party barges. All buyers were age 25 to 35. The next group was cruisers 26 to 30 feet, with single engines. Total sold was 18 units. ( 15 used, 3 new ) Salesman said the buyer is sensitive to maintenance cost compared to twin engines, and trailerable. He sold 2 boats over 30 feet with twin engines, both used, and both selling at depressed prices. The impact of seasonal slip fees, fuel cost, maintenance, and the shrinking mechanic pool is hitting that group really hard. Then, throw on top of that the restored hurricane boats keeping price low, and it is almost impossible for a current owner of a traditional cruiser to move up when new boat prices continue to blow right past the reasonable line in the sand. In our area, marinas that used to have 3 year waiting lists, are at 70% capacity. I realize a lot of this is due to this region, but it is what it is. Yes, there are some wealthy, economically insulated people out there, but not enough to keep the industry from shrinking.
Cooler By The Lake
( All weather people have to say this on air, near lakes )
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Re: Boating Industry Future

Postby RGrew176 » October 21st, 2018, 4:00 am

Unfortunately it seems to me that the cost of new boats has risen much faster than inflation. At least it seems that way to me. Boating is once again, at least as it pertains to new boats, becoming once again the hobby of the well to do. For the rest of us there is the used boat market which still allows the rest of us the opportunity to be in the hobby.

I am on my 10th boat. 6 were purchased new the other 4 used. I am not stating one way is better than the other. Buying new has its advantages as does buying used.
Rick Grew

2022 Stingray 182 SC

2004 Past Commodore
West River Yacht & Cruising Club

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