Used market softness or all market?

[Max20]

https://www.boattrader.com/boat/2019...makai-9016410/

We didn’t use the boat as much as we had hoped the last 2 seasons and have decided to sell. Maybe not the best time of year to sell but I’ve been listed on onlyinboards for 2 weeks and not even 1 inquiry. I just went the boat trader route today.

What do you guys think of the price??

[HFarr]

I can't believe you have not had any calls. Thats a great price I think.

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[mgswake]

Looks like your hours are a little below the other ones on OI. Price is lowest on there as well. Does it need to be gone before winter? If you are able to wait until spring you might have more hits. I personally think with the price of these boats and the increasing interest rates it’s really pricing a lot of folks out. Although a 2-4 year old boat at a fraction of the cost of the new ones would be something I looked into if I was shopping for a Makai.

But, price looks good, boat looks great. Probably a combination of end of season, higher rates, and more options in the used market these days.

[Holdmybeer]

I know for me it is rate increase that stopped my search.

At 3-4% it would have been sold in 24hr. At 5-6% maybe a week. But now perfect credit is 8-9% and below 800 score is 9-10%. It take a $500/month payment and makes it $1000 (exaggerating..but you know)

[smitty75]

Boat sales have definitely slowed down, at least on used boats. It just took me 3 month so sell a pristine Grady White center console that would have sold in a day last summer. Haven’t followed the wake boat market as much since we moved to the beach, but seeing a lot of dealer lots fully stocked lately that were empty last year.


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[Max20]

Thanks for the replies folks. To answer the question if it HAS to be gone before winter the answer is no however doing the math on payments for 6 months or letting it go at a great price, that’s what I tried to do.

I started it at over $90k for a week or so with no interest on OI. I brought it down to $87,500 for another week and still nothing. Today I decided to get it on Boattrader and boats.com to try and cast a wider net and brought it down to $85k which really if it doesn’t go for that price I’ll hold it till spring and re-evaluate.

[Yzfguy06]

I know for me it is rate increase that stopped my search.

At 3-4% it would have been sold in 24hr. At 5-6% maybe a week. But now perfect credit is 8-9% and below 800 score is 9-10%. It take a $500/month payment and makes it $1000 (exaggerating..but you know)

I agree with you. I’ve been watching used supras specifically sa/sl and I’ve seen some of them start to tick down a bit. The there are some that are trying to get what they paid for them. I think the price of your boat is great and it should sell. If I was looking for a makai I’d be calling you.

[sandm]

my opinion...

OI is now higher than pre-pandemic levels and back then, there were a ton of boats that had been sold and never deleted. covid cleaned up the listings and the 5200 currently are likely all still for sale. that's been increasing every week for the last 2 months and a big jump from 2019 levels comparing actual boats for sale.
as Hfarr mentions, interest rates are a big driver currently in a lot of markets.

personally, if we were in the market, we would be sitting on the sidelines until next spring waiting to see what the pricing market does rather than carrying $4.5k in note over the next 6 months of layup unless the boat is an absolute fire sale. I suspect others are doing the same.

good luck and all it takes is 1 buyer...

[larry_arizona]

Interest rates are the killer and only going up.

OEM prices are going up so rapidly, many are out priced in combination with high interest rates. Buyers are now shopping used and are trying to offset that huge interest payment and expecting the seller to reduce the price to help them. It takes a lot of price reduction to offset 7% interest.

Not sure how many sellers will choose to eat negative equity.

Rates will need to get back near 5% to keep used boat prices above water. Regardless it will hurt the industry as nobody is buying a new boat after eating $20k in negative equity.

Inflation is slowing, but the last few years of high inflation is permenant damage. Even if we get back to 1-2% inflation, the last couple years of 7+% will not be reset.


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[brad460]

Your asking more than the boat could have been purchased new in 2019, so I wouldn’t feel too bad about the situation..Plus you used the boat 192 hours..

I do think it’s good the market is cooling as prices got out of hand. Seeing big discounts on new boats too..So why over-pay for a 5 year old boat- knowing prices will continue to slide.