Thread: Used boat prices, post COVID

Looks like they’re starting to fall, and my prediction is it may be significant.

Spoke to a dealer last week who said he hadn’t sold a +$150k boat for nearly a year. During the lockdown boom, $300k boats were selling like hot cakes.

He’d heard Trev Terry marine were in trouble.

I’m looking for a tidy low hours Buccaneer 635. Prior to COVID they were selling for $45-$55k.
Lockdown boom saw them shoot up to $70- $80k and sell the same week they went on the market.
They’re now not selling even back in the $50’s.

A mate of mine took possession of his brand new 400k boat for game fishing during Xmas holidays.
Obviously it is still alright for some.
I guess it is toward the end of the season, which is always harder to sell boats than in octobre novembre.

My feeling is that prices on second hand boats are falling and prices on new boats are stagnating. Needed to happen, it was getting silly. Kind of sucks for my mate though, he'll shortly be selling a 6.5m hardtop all setup for game fishing.

Trev Terry's is in receivership.

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Originally Posted by BRADS

Trev Terry's is in receivership.

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Most businesses are feeling the pinch I think, selling new houses is hard work, have mate in the business and it’s hand to mouth for him.

Was always going happen, things couldn’t keep going the way they were. Could be a few bargains coming up.

Originally Posted by Lauries Hut

Looks like they’re starting to fall, and my prediction is it may be significant.

Spoke to a dealer last week who said he hadn’t sold a +$150k boat for nearly a year. During the lockdown boom, $300k boats were selling like hot cakes.

He’d heard Trev Terry marine were in trouble.

I’m looking for a tidy low hours Buccaneer 635. Prior to COVID they were selling for $45-$55k.
Lockdown boom saw them shoot up to $70- $80k and sell the same week they went on the market.
They’re now not selling even back in the $50’s.

The 'covid boom was to do with people who would travel , not travelling and having surplus $$$ to blow on a boat. (Surplus what now I hear you ask......- Oh to have that as a problem) Anyway, the current drop off is also priarily due to higher interest rates and it is no longer as cheap to 'chuck it on the mortgage' and sort it out later.....This would compound on top of the travellers travelling again....

Originally Posted by timattalon

The 'covid boom was to do with people who would travel , not travelling and having surplus $$$ to blow on a boat. (Surplus what now I hear you ask......- Oh to have that as a problem) Anyway, the current drop off is also priarily due to higher interest rates and it is no longer as cheap to 'chuck it on the mortgage' and sort it out later.....This would compound on top of the travellers travelling again....

I was talking to a freind who's a financial advisor and he said revolving credit and large credi card limits are unobtaininum now for most people.

Originally Posted by timattalon

The 'covid boom was to do with people who would travel , not travelling and having surplus $$$ to blow on a boat. (Surplus what now I hear you ask......- Oh to have that as a problem) Anyway, the current drop off is also priarily due to higher interest rates and it is no longer as cheap to 'chuck it on the mortgage' and sort it out later.....This would compound on top of the travellers travelling again....

I agree. My inlaws have just been through the house buying thing. I would say that it's a buyer market despite how much the estate agents are talking it up.

Originally Posted by Lauries Hut

Looks like they’re starting to fall, and my prediction is it may be significant.
Spoke to a dealer last week who said he hadn’t sold a +$150k boat for nearly a year. During the lockdown boom, $300k boats were selling like hot cakes.
He’d heard Trev Terry marine were in trouble.

Alloy price was over $11/kg during covid time if you lucky enough to find anyone stock them,
now its $6.80/kg with abundant stock & price keep dropping.

It was Kev & Ian's a couple of weeks ago and now Trev Terry's following their footsteps
Yeah, things are not looking flash around.

I'm surprised it taking this long for the boat price to drop.

Originally Posted by Maca49

Most businesses are feeling the pinch I think, selling new houses is hard work, have mate in the business and it’s hand to mouth for him.

Yes, residential housing is abit slow but not for commercial properties in Auckland thou,
Auckland commercial still selling like hot cakes.

Originally Posted by MB

I agree. My inlaws have just been through the house buying thing. I would say that it's a buyer market despite how much the estate agents are talking it up.

Its a good time to buy and few bargain around if buyer can spot it & service the loan.

Definitely needed to happen, prices were ridiculous and unsustainable especially in the second hand market.

Originally Posted by Snap 4T

Alloy price was over $11/kg during covid time if you lucky enough to find anyone stock them,
now its $6.80/kg with abundant stock & price keep dropping.

It was Kev & Ian's a couple of weeks ago and now Trev Terry's following their footsteps
Yeah, things are not looking flash around.

I'm surprised it taking this long for the boat price to drop.






Yes, residential housing is abit slow but not for commercial properties in Auckland thou,
Auckland commercial still selling like hot cakes.




Its a good time to buy and few bargain around if buyer can spot it & service the loan.

People are trying to hold out for a good price so they aren't left with the big mortgage service costs. Unfortunately assets like that are hard to move when times aren't flash...

Originally Posted by timattalon

The 'covid boom was to do with people who would travel , not travelling and having surplus $$$ to blow on a boat. (Surplus what now I hear you ask......- Oh to have that as a problem) Anyway, the current drop off is also priarily due to higher interest rates and it is no longer as cheap to 'chuck it on the mortgage' and sort it out later.....This would compound on top of the travellers travelling again....

I am told the house renovations were same deal...not traveling overseas plus actually BEING in their own home for any length of time meant "oh I think we should get a new kitchen/bathroom/extension etc etc" with only reply to get a minutes peace being "yes dear" LOL

Yeah if I had bought my boat now I'd save couple grand as to the listed prices. But I've had 1.5years of fun so far with the family in it..for that the cost difference couldn't replace the memories .

I've "made" $15K on my boat