Is anything selling now?
10-23-2008, 11:25 AM
#31
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10-23-2008, 11:26 AM
#32
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Racer
10-25-2008, 08:49 AM
#36
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I am in the market to buy and I hate to say it but I am waiting till rock bottom for the best price. I hate to beat up anybody in the boat biz but when the market was good and I would try to get a good deal on a trade and they would offer me 50-60k for a 50 Nortech on trade that needed nothing F U. So now I have cash and good credit so if the boat is listed for 150k I will start off with a 70k offer, somebody will take it and I will get a good deal. If any of the dealers I talked to would have made me a fair deal then I would have done the same.
I just missed a 03 38 ZRC Donzi was listed for 150k sold for 83k.
I just missed a 03 38 ZRC Donzi was listed for 150k sold for 83k.
So let's get out the crystal ball and see what economic conditions might look like look six months from now.
1: Most economist say the downward spiral will continue in real estate as even more homes are forclosed on and credit standards tighten for those who seek to borrow - further shrinking the pool of eligible buyers. Home owners in general will feel, and be, poorer as a result of the lower values of their real estate.
2: The stock market crash (that is still in progress) will continue to have a nasty impact on people's 401K statements. People brave enough to look at their October 401-K statements certainly feel poorer with the Dow at 8300 than they did a year ago when the dow was trading at 14,000. Who knows how bad 401K statements will look 6 months from now.
3: Finally, add into the mix the millions of unfortunate Americans who will be receiving pink slips as business around the world slows due to the recession and co's are forced to cut back. We are in earnings season on Wall St and the common theme for companies giving forward looking guidence is for Layoffs, Layoffs, and more Layoffs.
You can see from the above our economy is not in a wealth creation mode (like it was from 2001 - 2006) but rather it is in a Wealth Destruction mode. As such prices for used luxury goods will continue to plummet as the full force of this nasty recession hits home and makes most Americans even poorer -relative to what they were a few years ago. Most economist feel that the bad situation now will only get worse as companies start to lay workers off.
If you are needing to sell a boat and someone makes anything near a reasonable offer on it, you might be wise to accept it. If you are looking to buy a boat and want to get the best deal possible, be patient and wait at least until spring when the bad job numbers start rolling in. As they say on Wall St., keep your powder dry for when the panic sellers start hitting the market. Your patience will most likely be rewarded as this economy is going to get worse before it gets better. Prices will be even cheaper in the spring - maybe a lot cheaper.
Last edited by Marginmn; 10-25-2008 at 08:52 AM.
10-25-2008, 09:54 AM
#37
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I know it's now the same, but still a luxury item. Any of you see the crazy prices for Lambo's and Ferrari's right now? There is an 06 Gallardo on FChat right now for 100K. That is scary.
10-25-2008, 10:42 AM
#38
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I sold mine back in the summer, took a lot less than I wanted but in the end it's gone and so are the expenses associated with it. I figure I made up for the loss by avoiding the expenses this past summer. It's hard to stomach, but if you're serious about selling you gotta bend over.
10-25-2008, 11:36 AM
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The entire globe is in the midst of an economic meltdown the likes of which we only see about once every 100 years. Economist are forcasting a nasty global recession, probably the worst one we've seen since the 1930's. They are saying that unemployment rates could reach double digits here in the USA.
So let's get out the crystal ball and see what economic conditions might look like look six months from now.
1: Most economist say the downward spiral will continue in real estate as even more homes are forclosed on and credit standards tighten for those who seek to borrow - further shrinking the pool of eligible buyers. Home owners in general will feel, and be, poorer as a result of the lower values of their real estate.
2: The stock market crash (that is still in progress) will continue to have a nasty impact on people's 401K statements. People brave enough to look at their October 401-K statements certainly feel poorer with the Dow at 8300 than they did a year ago when the dow was trading at 14,000. Who knows how bad 401K statements will look 6 months from now.
3: Finally, add into the mix the millions of unfortunate Americans who will be receiving pink slips as business around the world slows due to the recession and co's are forced to cut back. We are in earnings season on Wall St and the common theme for companies giving forward looking guidence is for Layoffs, Layoffs, and more Layoffs.
You can see from the above our economy is not in a wealth creation mode (like it was from 2001 - 2006) but rather it is in a Wealth Destruction mode. As such prices for used luxury goods will continue to plummet as the full force of this nasty recession hits home and makes most Americans even poorer -relative to what they were a few years ago. Most economist feel that the bad situation now will only get worse as companies start to lay workers off.
If you are needing to sell a boat and someone makes anything near a reasonable offer on it, you might be wise to accept it. If you are looking to buy a boat and want to get the best deal possible, be patient and wait at least until spring when the bad job numbers start rolling in. As they say on Wall St., keep your powder dry for when the panic sellers start hitting the market. Your patience will most likely be rewarded as this economy is going to get worse before it gets better. Prices will be even cheaper in the spring - maybe a lot cheaper.
So let's get out the crystal ball and see what economic conditions might look like look six months from now.
1: Most economist say the downward spiral will continue in real estate as even more homes are forclosed on and credit standards tighten for those who seek to borrow - further shrinking the pool of eligible buyers. Home owners in general will feel, and be, poorer as a result of the lower values of their real estate.
2: The stock market crash (that is still in progress) will continue to have a nasty impact on people's 401K statements. People brave enough to look at their October 401-K statements certainly feel poorer with the Dow at 8300 than they did a year ago when the dow was trading at 14,000. Who knows how bad 401K statements will look 6 months from now.
3: Finally, add into the mix the millions of unfortunate Americans who will be receiving pink slips as business around the world slows due to the recession and co's are forced to cut back. We are in earnings season on Wall St and the common theme for companies giving forward looking guidence is for Layoffs, Layoffs, and more Layoffs.
You can see from the above our economy is not in a wealth creation mode (like it was from 2001 - 2006) but rather it is in a Wealth Destruction mode. As such prices for used luxury goods will continue to plummet as the full force of this nasty recession hits home and makes most Americans even poorer -relative to what they were a few years ago. Most economist feel that the bad situation now will only get worse as companies start to lay workers off.
If you are needing to sell a boat and someone makes anything near a reasonable offer on it, you might be wise to accept it. If you are looking to buy a boat and want to get the best deal possible, be patient and wait at least until spring when the bad job numbers start rolling in. As they say on Wall St., keep your powder dry for when the panic sellers start hitting the market. Your patience will most likely be rewarded as this economy is going to get worse before it gets better. Prices will be even cheaper in the spring - maybe a lot cheaper.
Margin- I always enjoy your posts and you make very well thought out points with regards to the market. All very true.
RAF
