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Boating Industry Future
- Lyndon670
- Admiral
- Posts: 657
- Joined: July 29th, 2013, 11:35 pm
- Vessel Info: 2000 Carver 506
Volvo TAMD74EDC - Location: Georgian Bay
- Has thanked: 124 times
- Been thanked: 139 times
Re: Boating Industry Future
I wonder that if the new market is dying off, that "should" create a boom in the used market. Now, think for a moment if someone - or a group of someones - were able to buy old tired out boats and rebuild them. Would that be cost effective since the bones (hull, superstructure etc) were in good shape?
I have the original bill of sale for my 506. It was just over 1.1 million Canadian. Now, these same boats are anywhere from 250USD to 400USD. I wonder if my boat was rebuilt with zero hours, fresh gelcoat, off the shelf electronics - would it command $800K US?
In comparison, $800K US does not buy you a 50ft aft cabin motor yacht today.
The business model exits already for mega yachts...perhaps there is a emerging market for what we run...
Just spitballing....
2000 Carver 506
FOXY JOE
Volvo 7.4TAMD
Queens Cove Marina
Georgian Bay, Ontario
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- CYO Supporter
- Posts: 5812
- Joined: July 10th, 2015, 9:58 pm
- Vessel Info: 1989 Carver 3807 Aft Cabin
- Location: Ontario, Canada
- Has thanked: 432 times
- Been thanked: 1588 times
Re: Boating Industry Future
Don't get me wrong, the older builds of some brands are great for such a venture in our class of recreational boats as they have some desirable qualities, in some cases better than modern builds. The hurtle is convincing a potential buyer to consider the older boat in the same light as a newer one, that a refurbished 30 year old boat still has another 50 years in her, and that they'll be able to recover most of their investment when they resell. You also need to convince them that you did a stand-up job and not have cut corners in an effort to make a bigger profit. I've seen some very poor workmanship and ethics on that front which gives the practice yet another perceptual hurtle to overcome.
- bud37
- Admiral
- Posts: 4684
- Joined: April 23rd, 2015, 10:22 pm
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Re: Boating Industry Future
Consider what would happen if you bought one like that and kept it for 5 years, would the used price now be the same as all the others that weren't refit, a good question ? Maybe a trawler style boat might be doable.Not saying this is not possible, my opinion is that if it were feasible there would be companies taking care of this segment of the market as we speak.
As I see it the boat would have to be almost free to start with, unlike the big Sportfish and mid sized big name luxury yachts, as they have a totally different customer base with a different mindset and resources.
- km1125
- Admiral
- Posts: 3348
- Joined: February 28th, 2017, 6:04 pm
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Re: Boating Industry Future
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- CYO Supporter
- Posts: 2291
- Joined: March 28th, 2016, 10:52 pm
- Vessel Info: 1998 Carver 355
Suspicious Fishes !
2022 Kawasaki 310X - Location: upper chesapeake bay
- Has thanked: 314 times
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Re: Boating Industry Future
- RGrew176
- Admiral
- Posts: 6217
- Joined: August 17th, 2015, 4:07 am
- Vessel Info: 2022 Stingray 182 SC
- Location: Southgate, MI.
- Has thanked: 72 times
- Been thanked: 464 times
Re: Boating Industry Future
2022 Stingray 182 SC
2004 Past Commodore
West River Yacht & Cruising Club
- waybomb
- CYO Moderator
- Posts: 2409
- Joined: February 5th, 2013, 9:24 pm
- Vessel Info: 1995 Boston Whaler Rage15
1987 3697 Carver Mariner
1988 Cougar 46 Kevlar Vee offshore
1969 15' Glasspar / 1967 Johnson Electromatic 85
1996 Boston Whaler Rage 15 - Location: Saint Joseph,Mi
- Has thanked: 50 times
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Re: Boating Industry Future
There's a 36 aft by me that's been sitting. I figure since it would be for flip, I'd probably only have to put about 12000 into it. I'll be asking about it in a month or so when winter storage deposits are due.
Fred
1969 Glaspar Avalon /1969 Johnson Electromatic 85
1987 Carver Mariner
1988 Cougar Kevlar 46' with triple blown 572 ci
1995 Boston Whaler Rage
Past - 1988 2807, 1989 4207 Aft
- bud37
- Admiral
- Posts: 4684
- Joined: April 23rd, 2015, 10:22 pm
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Re: Boating Industry Future
waybomb wrote:We picked up our 36 mariner for cheep, have about 21000 in it, surveyed at 45000.
There's a 36 aft by me that's been sitting. I figure since it would be for flip, I'd probably only have to put about 12000 into it. I'll be asking about it in a month or so when winter storage deposits are due.
You should film the redo , you never know.. .....12k up here with get you a good cut and buff and thats it..
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- CYO Supporter
- Posts: 148
- Joined: June 28th, 2018, 9:31 am
- Vessel Info: 1998 Carver 405
- Location: Madison MS
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Re: Boating Industry Future
I started flying airplanes in 97 because Cessna came out with a fuel injected new Cessna 172. You could buy it new for $139k. Now that same airplane is selling for more than it did new 20 years ago new. It is supply and demand and it does seem the boats are increasing in price over these past few years. Pretty much any boat you pick can have 75k-100k worth of add ons currently and it will be almost as good as a new one.
The positive in all of this is we have something I feel our boats will accumulate in value in the coming years kept in decent shape. That cannot be said about the RV market. Now that we are down to Cessna and Cirrus being the main private plane suppliers, prices have skyrocketed. I really expect the same thing to happen in this boat market. 20 year old boats with low hours are going to become like Ferrari's with low miles. Supply and demand if no one is building the certain size boats, it is only a matter of time.
Then again I am the newbie here so lets see what happens in a year or two. I choose Carver because I really did and do feel like someone will always keep it going though.
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- CYO Supporter
- Posts: 2291
- Joined: March 28th, 2016, 10:52 pm
- Vessel Info: 1998 Carver 355
Suspicious Fishes !
2022 Kawasaki 310X - Location: upper chesapeake bay
- Has thanked: 314 times
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Re: Boating Industry Future
Maybe he was correct, I guess we will see.
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