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Boat Bubble. Should I sell?

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    #1

    Boat Bubble. Should I sell?

    Looking at used boat prices right now I think we have to be in a boat bubble due to Covid. Here is my thought process and I’m curious what your opinion is. Should I sell now and buy next summer when all the impulse purchases realize a 20 year loan was a bad idea?

    I have a 2017 Z3 and I’m seeing similar Z3’s listing for 90k! There is a 2016 Z3 that just sold in my area for 80k. Boats don’t typically appreciate, yet here we are. I also like the idea of selling now, not dealing with winterization and putting $85k in cash in the bank over the winter.
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    #2
    I think you have to assume this bubble is going to pop hard man. People are spending stupid money on first time boat purchases - In 2 years they wake up and realize they own a 90k Boat anchor...

    You are speculating though. A bird in the hand my man! Is your boat dependable? Were you planning to hold it for 10-20 years or flip it every 2-3? If your the second I'd sell that thing in a heartbeat - you were going to sell it anyways right?

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      #3
      This is my second season on our Z3 and love it. The dealer is not very good but my warranty is up this summer so that’s no longer as big a factor. I was going to keep it another 2-3 years then upgrade. If the bubble pops next season I’m golden. If it pops in two seasons I might take a summer off of boating next year. That’s the risk I see.

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        #4
        Agree. I'm in the same boat... 22VEs in good shape are selling really high now. I think I could make 15-20k. (I scored a smoking deal). Our deal is we LOVE being on the water, and I have to imagine I'm 9 months from getting an ATX built or something like that, and refuse to buy "in the bubble". There is nothing really wrong with my boat, and I think it'll hold a 30k value for a few years.

        I dunno man. Tough call. Post it for 95k and see who bites. If someone grabs it awesome, if not your still on plan.
        • 1 like

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          #5
          I think many are asking the same question as you, and I agree with BrentP. It's situational to each boat owner. I see the temptation, and the reasoning for taking the profit while you can. I also believe the used market a year (or two) out from now is going to be prime picking for the serious boaters. People are going to eventually have kids back in school, sports, etc., and they will have concerts, plays, and vacations to go on. They will realize the hard way the boat purchase was impulsive due to the current circumstances and just unload it. The question I would be asking is more along the lines of "how long will I be without a boat to use in this whole process". If you can wait to boat, and you want to upgrade - seems to me like the time is now.
          • 1 like

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            #6
            its a crapshoot if/when it all ends but when it does there are 2 groups that have the potential to be hit hard. dealers and manufacturers.
            not much manufacturers can do to stem what could be coming other than hope they are the one company to dial back production to keep up with slowing demand and not get "caught with your pants down". my gut is tige and skiers choice will weather this better than some others.

            the other- dealers- can impact this. I see too many comments like utes about crappy dealers and someone else posted a few days ago having 3 appts for a dealer to come out and help a new customer set up the boat. no show all 3 times.
            it's easy to rake in the cash when times are good but how many are cultivating relationships with customers that have them calling the dealership first to dump that paperweight.....
            we shopped several dealers/brands in arizona/idaho before ending up with the boat we have now and only 1 of the 5 dealers we visited reached out to discuss a purchase. I had to initiate all conversations.
            easy to sell when times are good but it'll change,,,, and when it does my gut is I'd rather own onlyinboards than be working at a dealership and that's a situation the salesman/manager could control.
            2012 22ve.. RIP 4/17
            2014 Z3.. Surf away

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              #7
              Ute, I assume you're in Utah and looking on KSL. I was looking at Z3's today and thought the numbers were a bit odd for what is there.

              https://classifieds.ksl.com/listing/60911179

              https://classifieds.ksl.com/listing/60906627

              https://classifieds.ksl.com/listing/60893892

              https://classifieds.ksl.com/listing/60750389

              The first two are pretty realistic. The second two are WAY off. Also, keep in mind these are only asking prices. I imagine the second two are trying to pay off loan amounts.

              I sold my RZX early this year. I did not get my asking price. I went under a few grand. I didn't know what the future would hold and didn't want to stress about food on the table. Turns out this has been my busiest year ever and so far there's been no need to worry. DANG. Well good, but dang. We miss our boat but will likely be in another one in the spring if things go well. It would be real nice to pick up a nice boat someone is trying to dump then.
              Nothing wrong with listing it high and see what happens. In the meantime keep enjoying your boat.

              PS, if you are in Utah, I could sure use a pull.

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                #8
                That third one came from our dealership. Was in our boatshow.

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                  #9
                  I Live in Wisconsin Ive been tossing around the idea of selling my 2021 25zx fully loaded 575 sc, thrusters, power seat ,best stereo you get the drift Boat has 50 hrs on it our season has maybe a month left what do you think I could ask for this boat if I did want to sell and order another for next summer

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                    #10
                    My 2012 Z3 had multiple issues, vinyl, steering cable out, bent axle, tower movement, a couple amps didn't work, so i traded and custom oredered a new zx23. It was a good time to trade, they gave me almost what I paid for it 5 years ago. With the low interest rates it was no brainer to buy new with a 7 year warranty. Its a good time to get your order in.

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                      #11
                      I think you are too late for this thing. Most folks are not under any pressure to buy like they were 6 weeks ago. Lots of people are saying EXACTLY what you posted above and have put their boats up for sale hoping to score big. There aren't a lot of people who feel like they have to buy a boat right now to salvage their summer boating activities.

                      I have been watching KSL.com classifieds pretty close for the last 2 weeks. Now that summer is winding down, the number of boats for sale is escalating pretty fast. 2 weeks ago, there were 884 boats for sale, now it is over 1100. For some reason, they think that now that summer is almost over, they won't miss the boat so much, but that someone else will desperately want it? Doesn't make sense to me.

                      A huge number of the inboard boats for sale are so overpriced, it is ridiculous. They don't need to sell, and are just testing the market. I think most of them will not sell at all this fall unless they drop prices. I am keen on what a lot of those boats sold for when new, and what a new 2021 would cost,and the prices are out of line. The asking prices are not the selling prices at this point. I did very well, but have always considered July 4 to be a significant deadline for selling boats in the summer, and in a traditional marketplace, I still think that is truth. I sold on July 2nd after 2 days online for a very good price

                      Maybe all of that is wishful thinking, but I don't think so, supply and demand will make this a buyer's market soon. Many people who impulsively bought a boat in the spring will realize they have 8-9 months of payments to make before they get to use it again. And that is on top of whatever repairs and expensive maintenance that we all put out during the summer months.

                      Having rambled on about all of that, you could join the party and put up some ads and see if someone bites.
                      Be excellent to one another.
                      • 1 like

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                        #12
                        I agree with talltigeguy
                        The market is now flooded and there aren't enough buyers this late in the season IMO.

                        I sold my tige a month or so ago and I didn't get asking price, i got a good price but nothing nuts.
                        I think a lot of the stuff you see online is people doing exactly what you're doing and listing high hoping for a profit.

                        Mid July things were selling in minutes, now they are sitting a lot longer and there's a lot more inventory to chose from.
                        There's 2 z3's both 2017 that have been for sale near me all summer for ~80k without selling. I offered 75 on one of them and he wouldn't take it. Here we are 2 months later at the end of the season and he's still got it.

                        I ended up buying a 2020 with very low hours, i got a fair price on it but not a smoking deal. IMO it's better in a bubble to buy newer because they have the new boat price to compete with. No one is going to pay 130 for a boat with 50 hours when you can buy a brand new one for 135.

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                          #13
                          sonic and tall are spot on.
                          we sold our z3 in june and didn't have a clue the market was this hot. sold in 2hrs. could have gotten more but overall we and the buyer were happy with the deal so it was good on both sides.

                          we looked around and everyone wanted stupid money for boats. we were going to build and get one over the winter but fell into an r23 that was brand new and cheaper than 3 of the 4 z3's listed from unstuck.
                          and as they point out the market looks to be slowing for the winter.
                          interested to see what next spring brings, especially if the 'rona is stil with us.
                          2012 22ve.. RIP 4/17
                          2014 Z3.. Surf away

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                            #14
                            Thanks for the input. For those that have kids in High school or little league football you know that once it starts boating stops. I have nothing to lose. I’ll put it on and probably ask $80k. If it doesn’t sell, no harm. Unfortunately I left it down at Lake Mead hoping to get another trip or two in but that’s not in the cards. I’m heading down today and hope to have it up for sale by Sunday.

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                              #15
                              Only thing hotter than boat sales is gun sales


                              Sent from my iPhone using Tapatalk

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