Boat Shows 2024

[mgswake]

I think I posted this in another thread, but not this one.

I tossed around the idea of upgrading to a SL450 mainly because I have a buddy that likes to ride full ballast wakeboarding and the SL400 struggled with full ballast until I repropped the boat (it does well now).

Anyway, my SL400 was MSRP 216K. Obviously, I did not pay that, but the dealer was offering me 140K on trade. I spec'd out a SL450 and added thruster, but no power swim step and the MSRP was around 263k. With the trade and discount I was looking at about 95k to upgrade. (take away ~10k thrusters and ~10k 450, and that's about 75k to upgrade from a 2023 to a 2024).

The dealer even mentioned when I was shopping for my boat that these boats hold value really well and you can upgrade every 2-3 years for very little difference in price. Good thing for me is we love the boat and we are the type of people to hold onto things for awhile (my truck is 2011). I hadn't planned to upgrade, but I did like some of the cool features on the 2024's.

I understand there are new standard features, power seat, new tower, new audio, but when I saw the cost to upgrade I didn't even have to spend more than two seconds on the decision. That was a hard heck no for me.

[Mxmark4]

I think I posted this in another thread, but not this one.

I tossed around the idea of upgrading to a SL450 mainly because I have a buddy that likes to ride full ballast wakeboarding and the SL400 struggled with full ballast until I repropped the boat (it does well now).

Anyway, my SL400 was MSRP 216K. Obviously, I did not pay that, but the dealer was offering me 140K on trade. I spec'd out a SL450 and added thruster, but no power swim step and the MSRP was around 263k. With the trade and discount I was looking at about 95k to upgrade. (take away ~10k thrusters and ~10k 450, and that's about 75k to upgrade from a 2023 to a 2024).

The dealer even mentioned when I was shopping for my boat that these boats hold value really well and you can upgrade every 2-3 years for very little difference in price. Good thing for me is we love the boat and we are the type of people to hold onto things for awhile (my truck is 2011). I hadn't planned to upgrade, but I did like some of the cool features on the 2024's.

I understand there are new standard features, power seat, new tower, new audio, but when I saw the cost to upgrade I didn't even have to spend more than two seconds on the decision. That was a hard heck no for me.

I cant imagine being told that I could upgrade for "very kittle money" and it be a 75k difference.

[mgswake]

I was expecting 5-10k plus 20k for the engine and thrusters. So maybe 30k. The MSRP is only 50k and then figure in a discount. I was a little surprised how little my boat was worth to them after 1 year. Garage/lift 55hrs 2023

[sandm]

I was a little surprised how little my boat was worth to them after 1 year. Garage/lift 55hrs 2023

I would have expected a price more in the 150's based on your numbers but that's still a long way off from what your expectations are.
I believe my cousins 2023 se575 is still sitting at the dealer for consignment sale from last october. in 21 and 22 he went through 3 new boats and sold them in weeks. he's priced WELL below what a similar 2024 will run and only has 65hrs.

your comment on the dealer talking about holding value was completely true from 2020-2023 but in my experience from 2007-2020 these things were a depreciating asset just like a car. we should now be getting back to a more "normal" however imo those that bought in late 2021-2023 are going to feel the pain the most for the next couple of years as the market does return.

[mgswake]

I completely understand and agree boats are depreciating assets, I was just a bit shocked at the amount of depreciation given the increase in new models. I figured the older models would hold a decent value and then you would pay the yearly increase in addition to a small amount of depreciation. However, my quote seemed to me, that it was annual price increase plus large depreciation.

I knew going in this was likely to happen as the market was just insane during covid. I was tracking used G23 since 2017 and they were slowly dropping into the 80-90k range for 2014-2016 model year boats. But then in 2021 those same boats which were 2 years older jumped to 100-110k.

That ridiculous market is why I bought new. I looked at used boats and there was no way I was paying someone more money for their used boat than they paid new. I saw a lot of arguments on FB about how that was or was not going to last. It’s going to be tough for the folks that stretched for a payment only to find out if they want to sell they are going to likely lose a good bit of money.

[KnoxMojo]

I completely understand and agree boats are depreciating assets, I was just a bit shocked at the amount of depreciation given the increase in new models. I figured the older models would hold a decent value and then you would pay the yearly increase in addition to a small amount of depreciation. However, my quote seemed to me, that it was annual price increase plus large depreciation.

I knew going in this was likely to happen as the market was just insane during covid. I was tracking used G23 since 2017 and they were slowly dropping into the 80-90k range for 2014-2016 model year boats. But then in 2021 those same boats which were 2 years older jumped to 100-110k.

That ridiculous market is why I bought new. I looked at used boats and there was no way I was paying someone more money for their used boat than they paid new. I saw a lot of arguments on FB about how that was or was not going to last. It’s going to be tough for the folks that stretched for a payment only to find out if they want to sell they are going to likely lose a good bit of money.

Your boat didn't depreciate that much, it's just what the dealer is offering. Friend of mine got a low trade in offer on his 2 year old G23 for a Paragon. Sold on his own for about 25-30k more.