Welcome to Carver Yachts Owners Forum

We are a boating forum for owners of Carver Yachts to enthusiastically discuss all aspects of Carver Boat ownership. Whether you are looking for your first Carver or currently own one, you are sure to feel at home on CarverYachtOwners.com

You are currently viewing our board as a guest which gives you limited access to view most discussions, articles and access our other FREE features. By joining our free community you will have access to searching the forum topics, post topics, communicate privately with other members (PM), respond to polls, upload your own photos and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

Boating Industry Future

ImageThis forum is for general discussion of all things Boating. If it's boating related and doesn't fit in another forum, post it here!
User avatar

Canada
Lyndon670
Admiral
Admiral
Posts: 643
Joined: July 29th, 2013, 11:35 pm
Vessel Info: 2001 Carver 506
Volvo TAMD74EDC
Location: Georgian Bay
Has thanked: 121 times
Been thanked: 120 times

Re: Boating Industry Future

Postby Lyndon670 » July 4th, 2018, 10:55 pm

Great conversation.

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....
Lyndon,
2001 Carver 506
FOXY JOE
Volvo 7.4TAMD
Queens Cove Marina
Georgian Bay, Ontario


Canada
Viper
CYO Supporter
CYO Supporter
Posts: 2295
Joined: July 10th, 2015, 9:58 pm
Vessel Info: 1989 Carver 3807
Location: Ontario, Canada
Has thanked: 85 times
Been thanked: 447 times

Re: Boating Industry Future

Postby Viper » July 5th, 2018, 6:42 am

I've done that with a few boats, it's a good way to stay busy over the winter. There are several variables dictating the final outcome from a business standpoint such as the economy, the value of the dollar, current trends, etc. The difficult part is come selling time, no matter how much you put into a 30 or more year old vessel, it's still decades old and buyers will consider that a major factor in their decision to buy. There's a fine line in the amount you can invest in the refurbishment and still be within a price point folks are willing to pay for a vessel of that age regardless of the new engines, generator and other major systems.

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.
User avatar

Canada
bud37
Admiral
Admiral
Posts: 1486
Joined: April 23rd, 2015, 10:22 pm
Has thanked: 208 times
Been thanked: 292 times

Re: Boating Industry Future

Postby bud37 » July 5th, 2018, 8:14 am

Yes, I think you would have a tough go of it to refit,( engines, wiring,interior and paint ), a 30 to 40' pleasure boat and make any money at it, there is just too much in the used market. I think you guys have hit upon the reasons for it.
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.
User avatar

United States of America
km1125
Admiral
Admiral
Posts: 664
Joined: February 28th, 2017, 6:04 pm
Been thanked: 156 times

Re: Boating Industry Future

Postby km1125 » July 5th, 2018, 10:16 am

Maybe a better way to approach it is like this: Instead of buying a new or almost-new boat for 300-500K, buy a solid ~~30 year old boat for ~20K and put $100K into it with new engines, electronics, HVAC and $50K of "cool" stuff then plan to ENJOY IT for 10-15 years and consider that money well spent. If you bought a 300-500K boat, the depreciation over those same years would be well more than that $100K you spend customizing a boat to YOUR EXACT needs and wants.

United States of America
tomschauer
CYO Supporter
CYO Supporter
Posts: 956
Joined: March 28th, 2016, 10:52 pm
Vessel Info: 1998 Carver 355
Suspicious Fishes !
1990 Proline 17CC
Location: upper chesapeake bay
Has thanked: 68 times
Been thanked: 194 times

Re: Boating Industry Future

Postby tomschauer » July 13th, 2018, 1:50 pm

Maybe we can get an HGTV special "Float or Flop".
User avatar

United States of America
RGrew176
Admiral
Admiral
Posts: 2297
Joined: August 17th, 2015, 4:07 am
Vessel Info: 1981 Carver 3007 Aft Cabin
Location: Southgate, MI.
Has thanked: 39 times
Been thanked: 173 times

Re: Boating Industry Future

Postby RGrew176 » July 14th, 2018, 5:11 am

tomschauer wrote:Source of the post Maybe we can get an HGTV special "Float or Flop".



I like it. :-P
Rick Grew

1981 Carver 3007 Aft Cabin

2004 Past Commodore
West River Yacht & Cruising Club
www.wrycc.com
User avatar

United States of America
waybomb
CYO Moderator
CYO Moderator
Posts: 1586
Joined: February 5th, 2013, 9:24 pm
Vessel Info: 1987 3697 Carver Mariner
1988 Cougar 46 Kevlar Vee offshore
1969 15' Glaspar / 1969 Johnson Electrmatic 85
1964 Barron Flat bottom drag boat
A couple of dinghies
Location: Saint Joseph and Trenton, MI
Has thanked: 26 times
Been thanked: 189 times

Re: Boating Industry Future

Postby waybomb » July 14th, 2018, 7:01 pm

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.
Thanks
Fred
1964 Barron Flatbottom with BBC Chevy
1969 Glaspar Avalon /1969 Johnson Electromatic 85
1987 Carver Mariner
1988 Cougar Kevlar 46' with triple blown 572s
http://s4.beta.photobucket.com/user/waybomb/library/
Past - 1988 2807, 1989 4207 Aft
User avatar

Canada
bud37
Admiral
Admiral
Posts: 1486
Joined: April 23rd, 2015, 10:22 pm
Has thanked: 208 times
Been thanked: 292 times

Re: Boating Industry Future

Postby bud37 » July 15th, 2018, 10:09 am

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.. :-D .....12k up here with get you a good cut and buff and thats it.. :-O

United States of America
Serendipity
CYO Supporter
CYO Supporter
Posts: 53
Joined: June 28th, 2018, 9:31 am
Vessel Info: 1998 Carver 405
Location: Madison MS
Has thanked: 77 times
Been thanked: 16 times

Re: Boating Industry Future

Postby Serendipity » July 23rd, 2018, 12:48 am

Very interesting posts and having run car dealerships for 25 years, I agree a new vehicle or boat is rarely worth the expense. I have noticed more people seem to be signing up for fractional shares, but that doesn't seem to be affecting the market or the boat makers would still be in business. I would also like to point out management can sink the best of businesses. Just look at the greedy directors for TOYRUS and BABIESRUS. Company is now bankrupt and they pretty much had the toy market cornered until greed took over.
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.

United States of America
tomschauer
CYO Supporter
CYO Supporter
Posts: 956
Joined: March 28th, 2016, 10:52 pm
Vessel Info: 1998 Carver 355
Suspicious Fishes !
1990 Proline 17CC
Location: upper chesapeake bay
Has thanked: 68 times
Been thanked: 194 times

Re: Boating Industry Future

Postby tomschauer » July 23rd, 2018, 4:47 pm

A few years ago when I had my 355 surveyed, they surveyor said that I would most likely start to appreciate fairly significantly over the next several years. I laughed.
Maybe he was correct, I guess we will see.

Return to “General Boating Discussion”



Who is online

Users browsing this forum: No registered users and 1 guest