2022 price increase for Q4 build slots just hit

[RiggerJon]

I signed what I thought was a contract for a 2022 GS22 in October and got a call today regarding the 10% increase. Dealer is willing to split the percentage which is great, but still hurts. I traded my current boat in so I wouldn't have to pay for storage this winter. They haven't tried to sell it yet, but it will sell quickly when they do. Its a Q4 boat, so I'm also concerned about the delivery date eating into the summer. I either roll the dice on the price increase and delivery date, or try to get my trade in back.... My trade in has to be worth more due to this price increase, but the original price they gave me was more than fair. (At the time) Any thoughts?

Look at the agreement. Is there a provision for price changes or termination? If not, just let them know it's not legal. Be happy to help if needed.

[RiggerJon]

Update. Sounds like my dealer is going to stick me with the full 10% increase. Not sure if they are just trying to increase their margins since they have sold through most of their build slots for the rest of this year or if it is coming from Nautique. Haven't decided what to do yet but definitely frustrating to get this slapped on you when you already agreed to a price and made a deposit. Leaves a bitter taste for sure and will definitely look at other brands on my next boat.

Man, look at your agreement. My dealer changed their mind (quickly) once they realized it wasn't legal. I'm happy to help if needed.

[mooneywa]

I know it was purely coincidence, but about about an hour or so after my post on this thread I got an email from Nautique soliciting feedback about future boat purchase. Interesting the things they were asking: does the stock market affect your desire to buy another Nautique? Inflation? Pricing? It was far more direct than the usual surveys I'd get that asked more about lifestyle or design wishes that were all very vague. I'd imagine they aren't completely out of touch thinking that this ride will last forever.

While I disagree with how Nautique (and their dealers) went about trying to recoup the 10% extra, I'm surprised it's *only* 10%. Just look at transporting the boat. Fuel is up 250%, new trucks are nearly impossible to get and parts for current trucks, especially sensors and the like, are nearly impossible to get. I'd imagine all the fancy controllers, sensors, and chipsets for these boats are up way more than 10%.

Really don't know where we go from here.

[mooneywa]

Update: Our dealer's initial response was they were passing the total 10% retail price hike on to us - this included a few thousand extra bucks they were to make on the transaction. Once it was brought to their attention that, 1) I was pissed, and 2) made aware the change was illegal, things turned around. They said to forget about the previous emails about the increase.

Seriously folks, look at your agreements. Legally binding agreements don't require a signature - just a mutual agreement. It can even be verbal. Furthermore, if you paid a deposit, this clearly demonstrates the offer was accepted by both parties. If you don't specifically have an escalation or at-will termination clause in the agreement, the dealer CAN NOT change the agreement.

Now for the next boat, guess I'll need to buy a property in a different market.

I'm guessing you're an attorney. Most folks I don't think would know those contract stipulations, although for $26k, you'd think they'd consider hiring an attorney to review the contract.

[RiggerJon]

I'm guessing you're an attorney. Most folks I don't think would know those contract stipulations, although for $26k, you'd think they'd consider hiring an attorney to review the contract.

I'm not an attorney, but my wife is. Anyone that wants help, just DM me - happy to steer you in the right direction. Maybe buy me a beer one day.

[RDT-G23]

Hind sight is 20-20, for sure. I was one of the first to order and take delivery of a P23-(in the first 80 units) I got (in the context of sticker price at the time) a pretty good deal-at that time; after all, I jumped in early to an un-proven design-and an expensive one. I look at what is being asked today, what is being paid today, crazy. Cars, watches, these boats. Nuts. Not profound, I know - but this is just stupid - today.

[Vavdos]

I had ordered a G23 2021 model in March 2021 and paid my deposit in April 21. I took a usd5000 increase to go to 22 model because nautique had delivery issues, no fault of mine.
My boat should ship out as 23 model and now I have a new increase of another usd30k???
I have a contract without termination clauses. I am based in Dubai, and my dealer in Lebanon. I cant reach Nautique.

I have paid the full amount now of which I paid 66% of the purchase price direct to nautique, less USD30k that they want and waiting to see if it will ship.

.....

[bturner]

It'll be interesting to see where all this goes. My dealer still has a couple boats in stock this fall, last year they didn't. Last year there were not nearly the number of 1 and 2 year old boats for sale on onlyinboards. I'm also seeing a bunch of newer boats on FBMP. I realize many of the people buying the new boats are set cash wise and don't really care about the market but with boating if you can't move the used boats the resale values will fall pretty quickly. I've noticed that while the used market seems to be still holding prices higher than pre-covid pricing the insane asking seems to have moderated to really strong asking prices.