How times change

[bturner]

Amazing how quickly a market can change. I got an Email with this add in it. Sure it's Malibu but those are some serious numbers. I think I missed selling my boat for top dollar. Dang, I guess I'll just have to keep her.....

[MN Ryan]

How much of it is because they've artificially inflated their MSRPs so much?

[vision]

Definitely a little financially reality is hitting the market. 2023 G23s still left over are selling in our market for about 70k below list.


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[bturner]

Yeah, I've seen the correction coming and have posted several times about timing the market and such. The guy I was 10 years ago would have tossed my boat for top dollar last spring and waited for the correction, you just knew it was coming. Fast forward 10 years and I just don't have the time left to play the game anymore. My time on the water with family and friends is worth more to me now than a couple grand sitting in a bank account somewhere.

I think where we're really going to see the pain as reality hits home on these purchases (and not just in the boating market), is in the used market. I've been waiting out the market this year shopping for a new wave runner. The 2023 leftovers I'm looking at are going for about $12K with the manufacture rebates (yeah, now their offering rebates) for just the ski, which is all I need/want. People are trying to sell same 2020 - 2022 skis for $12K - $14K. You just know most were bought for full MRSP plus the crazy $1500 market value line pricing the manufacture was adding and then whatever the local dealer threw on there. Add to all this that most were financed and you have all the makings for a real mess about to be unfolded.

Cars/trucks are going to be even worse and there's going to be a ton of people upside down probably for the next 3 - 5 years. Between sky high leases and car loans that go out 6 plus years there will be pain for many that overextended. Lord help you if you lose your job and need to move some of your toys. Many will be lucky to be able to just walk away from them.

Oh well, enough doom and gloom for the morning..... I think I'll give it a couple more months then hit the dealer to see what their willing to do on that ski before the boat shows start. The market sure did change from a seller's to a buyer's market quickly. Good time to be a cash buyer, that's for sure.

[swatguy]

If my kids weren’t in their prime of leaving being late hs/college age I would’ve dumped my boat at the peak and waited a year or two . However time with them on the water was most important. If I was at a at a different point I would’ve been a boat bum and got rides from buddies while waiting. It’s not just Tommy’s doing the Bu 20k my local Bu just released adds as well. Going to be an interesting time.


I think used boats 10yrs plus will hold strong , but the 1-5yr old market is about to get squirrelly with new boat prices .

[swatguy]

So Texas Malibu just came out wit their latest add.


They’re going to match the factory Malibu discount of 20k and double it to 40k to move boats. Anybody got anything on other MFG ‘s. I mean 40k of a Bu is Epic. I mean we are talking immediate discount , not some &&@& phantom MC rewards rebate that never happened.

[bturner]

Honestly, $40K is getting to where the boats should be priced. No way a straight forward inboard tournament boat should be more than $80K and even that seems strong to me.

[srock]

How much of it is because they've artificially inflated their MSRPs so much?

Also, all those who ask "What's my payment" are impacted by higher interest rates.

[Nautiquehunter]

I am very glad I didn't buy a boat , truck or RV in the past 3 years its going to be painful for those who did.