Boat Shows 2024

[KnoxMojo]

going to be an interesting spring for boat sales...
don't see the interest rate market changing much until at least mid summer. only inboards is packed with boats and 70% are 2021 and newer.
m/c and 'bu posted quarterly results beginning of this month and both show quarterly sales down 40% YoY and margins are way down indicating they are discounting more than the last few years.

my takeaway... if you are looking to buy skip new as I see some desperate sellers that are upside down in newer boats/holdovers at dealers and if you are looking to sell, those with 2020's and older are still sitting decently but anyone with newer boats are going to see some decent depreciation.

couple holdover 2023 sa's in the 150's and several 2024 sa's all over 210k. granted options can tick up quickly but that's a big spread.

Looking on Only Inboards sold section, there hasn't been much sold the last few months. Prices are dropping like crazy. Saw a 21 SL for 115, 23 23lsv for 145 among others, and they aren't selling. There's a 20 or 21 on Facebook that's going to 108 or so. People are either upgrading or selling to get out, or finally took it on the chin in this economy enough to cut their losses and move on. Deals to be had for all cash buyers. This extended rate hike is catching up to most everyone in some way.

[HFarr]

I have been getting emails all the time recently from Moomba about trading in my 2021.

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[MJHSupra]

I have been getting emails all the time recently from Moomba about trading in my 2021.

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I’ve read several posts on other forums/social media about buyers in the market and ready to buy, but are getting quoted really low trade in offers on their current boats. These were BU and MC models.

Assume a lot of this has to do with the market you are in too.


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[HFarr]

Probably so, but I'm happy with what I have. Don't get me wrong, Im not saying I wouldn't mind something even better. That's probably always true, but I got mine just literally a couple of weeks before the market jumped up. So I am sitting pretty and am not actively looking to upgrade.

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[sandm]

I’ve read several posts on other forums/social media about buyers in the market and ready to buy, but are getting quoted realistic trade in offers on their current boats. These were BU and MC models.

Assume a lot of this has to do with the market you are in too.

fixed it for ya

[HFarr]

LOL! Tell the dealer you read it on the internet so it must be true!

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[MJHSupra]

fixed it for ya

100%

I think that crowd of “my boat is worth XYZ” is starting to get smaller and smaller.


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[larry_arizona]

Reality is boats are going to be a lot like homes, those who own or have a low interest rate are just going to stay in with what they have.

Nobody going to take a negative equity into a new high interest loan scenario.

I don't care what "deals" are out there, that will only benefit cash buyers, interest is still the killer.


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[sandm]

100%

I think that crowd of “my boat is worth XYZ” is starting to get smaller and smaller.

agreed. I think this is going to be a good year to be a buyer and an awful year to be a seller/dealer/builder IF your whip is 2021 or newer but I suspect next year will be back to a more "normal" market with deals, discounts and depreciation.

[j.mo]

Just got back from the boat show.

Tige and Malibu very aggressively trying to move leftover 2023 inventory.

Every other manufacturer apparently believes it is still 2020 and imo will continue to sit on their inventory.

I took a look also at RV’s, and a few dealers are also aggressively trying to move 2023 inventory.

I think the end of the season, September or so might get very interesting as 2025 arrivals begin to show up


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