dreamer

they cant process the paper fast enough then the repo yards have no space, time, people....

key shut down boat loans because they have 30,000 loans in default


YES 30,000!!!!!


a LARGE dealer i know of is actually getting in the repo storage and auction biz now because theyre sales r so off...
total change in business model

dhlaw

I have a wholesale brokerage licence for boats in Florida and although there are a lot of repos the banks are still not making super deals. It may take a little longer before the stress sets in.

dreamer

like the TARP thats gonna pass tomorrow..

they will unload all their boats then

bootdaddy

There is little doubt (in my opinion) that this market is heading lower...could be substantially lower. It does take time for paperwork to move through banks and there will be blood flowing in this and many markets...

People argue that a boat is worth what it is worth, but if there are no buyers and huge inventory of supply it's simple econimics...

There are currently 770 houses for sale in Nantucket (one of the richest vacation areas in the country)...Fully 1/3 of the Island is for sale!!! Who is left (still standing) to buy luxury items???

Jupiter Sunsation

That sales strategy is called collecting not selling! You are like the guy that had a house sell on his street three years ago for 1 million dollars and he won't take a nickel less than a million since that was what the market was at one time. Everything has a value and that value will go up and down on a yearly basis (think snowmobiles in July or boats in January). If you had a 200K boat even in good times that boat is going to be worth less over the next year it is called "depreciation" and in case you missed the economics class boats do depreciate (even Cigarettes)

You are comparing a labor rate to a sales price on a boat. That is not an apples to apples comparison. Your labor may be a specialty (only you can do it, quality issues whatever) but a 10 year old production boat is still used fiberglass with many out there similar to it. If everyone who had a 200K boat puts them up for sale for 175K now then your boat for 200K will be collecting dust while the others find new owners.

As said by others in this thread, "The asking price maybe set by the owner but the sale price is set by the market/ buyer!"

Chris Sunkin

At the same time, if you get enough people thinking the same thing, the myth becomes reality. Enough people beating on boat values does cause them to go down. The average person is influenced by what others think, especially when they're at some degree of uncertainty themselves.

The news media does this to the populace every day.

The reality is this- we don't all need to be scared or desperate to dump a boat cheap- all it takes is the least confident amongst us. If a handful of guys bug out and dump some boats cheap, it makes all the rest of our boats worth less. Continuing to scare people with plummeting value threads hurts all of us and the market as a whole.

Chris Sunkin

That's true, but you beating the drum on declining boat prices can and does have a detrimental effect on the market. And that makes you part of the problem.

Jupiter Sunsation

Alright I will do a NoBama here and change positions to even out all boat pricing! These boats are so underpriced, they should be 25% higher! They are such good deals the classifieds will be empty of all inventory by the end of the month!


I think the true value of OSO is the banter back and forth between many people that own all kinds of boats new/old/fast/slow and the opinions that go with the mix of personalities.

Cash Bar

If I remember right, the best deals are when BOTH sides are happy.

Since they say that the two happiest days of a boat owners life are the day you buy and the day you sell, wouldn't that mean that all boat deals are GOOD ONES ??

offshoredrillin

wrong again, you are assuming that I didnt account for depreciation...if a boat is for sale for 200K and thats what I want, nothing less than that's it end of story, you coming on here and bashing it does nothing. except as Chris said, make people start thinking and maybe being influenced by your posts...if you're not buying it or looking at it, then simply shut up...the sale price is NOT set by the market/buyer, to some that are willing to deal, maybe, but the seller has the right to say no, and many on here have said no, and the people come on pissing and moaning, you don't see the majority of the sellers complaining do you? nope, the buyers are whining and looking for someone like you to placate them...

Call Steve Nykamp and make a ridiculous offer for Allez Vite and tell him you're the buyer, your right...then you can watch a gentle giant tell you to go F yourself..